thedeadwalking4242 comments on Mamdani balanced the NYC budget

[–] thedeadwalking4242@lemmy.world 18 points 6 months ago (9 children)

The public sector should be constrainted by funding and that funding should be remediated via taxes.

Money isn't supposed to be infinate. The system as is requires uncapped spending.

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[–] AppleTea@lemmy.zip 4 points 5 months ago (1 child)

How do you account for growth in the real economy, then? Spain invaded and obliterated the cultures of a whole continent in part because they didn't have enough silver to match their accounting books.

I get that we have a problem with venture capital and defense contractors having access to the federal money spigot, but putting an arbitrary cap on the monetary supply will just impose a new set of problems.

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[–] thedeadwalking4242@lemmy.world 2 points 5 months ago

Unlike gold and silver our token based monetary system allows you to split money into increasingly small units.

So as the economy improves the currency would deflate. That's becomes an entire separate discussion.

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[+] Riverside@reddthat.com -4 points 5 months ago (6 children)

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[–] Mulligrubs@lemmy.world 5 points 5 months ago* (1 child)

Just make more money! Who would have thought of that? Your educated opinion is quite impressive.

p.s. the US government doesn't issue their own currency, that's the Fed.

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[–] thedeadwalking4242@lemmy.world 1 point 5 months ago (3 children)

The ability to create infinate money IS the problem. Also I said "The system as is" there is no contradiction in my statement.

It shouldn't be that way.

I did argue from knowledge I know exactly that idea your stating. It's a artifact of our current debt = new money system.

Also why are you so aggressive? Are you ok???

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[+] Riverside@reddthat.com 1 point 5 months ago (2 children)

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[–] thedeadwalking4242@lemmy.world 1 point 5 months ago (1 child)

You haven't said anything empirically you've just stated your case as fact ( just as I have but at least I'm not pretending to have presented it hard cold logic instead )

Anyway, the problem is being able to make the money. Your right at some point having to much money is good and sometimes having too much money is bad if your trying to manually control the economy . But doing that at all can be bad. It gives a few an immense power over the many. It's best to limit it entirely rather then leave anyone's thumbs on the scale.

Youre entirely right that it will have adverse consequences at times, but that's kinda the point. You make a healthy economy by having healthy economic trade.