this post was submitted on 27 Nov 2024
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It wasn't paying off the debt that caused the depression, that's deliberate misinformation to make you think debt is good, take out a lifestyle loan, don't think about it! What's a forever war or two paid paid for on credit, anyways?
What caused the depression was how he paid off the debt, namely by crashing the real estate market selling off stolen native land for cheap.
Government debt is in no way comparable to personal debt. You are spreading misconceptions and misunderstanding of high finance, if not outright lies.
Paying off all American debt is directly what caused the depression, since we were founded as a nation of traders. Pay off all the debt, and we don't have any currency that is useful to other countries, and all our trade agreements died up.
Now how much debt is too much for the US to carry, is another discussion altogether
Okay buddy, keep on sucking on that hyperinflation and asking daddy for more👍
It's not like the same people telling you debt is good are out to "Starve the Beast" or America doesn't have comparatively more debt than it ended Fucking World War 2 with.
The hyperinflation that has been going on in Japan for the last 30 years while they have had the money hose on? Oh, wait that's right. They're barely staying off deflation. Or maybe there was some hyperinflation here in the US? No? Not since the Great Depression? Huh. Strange that.
You're just showing that you know nothing about either modern economics or monetary theory.
Bruh, you're bare assed trying to compare Jacksonian policy to modern deficit spending, like they weren't on the GOLD FUCKING STANDARD, lmao.
Dudes with one college econ class acting like experts, I swear.
Historically the US has been loath to use our gold stockpiles to buy anything. Even when we were on the gold standard, we didn't trade with it. It is historical fact that our trade agreements collapsed and that caused the longest and deepest depression in US history.
Just because you happen to be fiscally conservative, doesn't mean that is a good way to run a government, and history has shown this time and again. Conservatives wreck the economy, liberals attempt to fix it, and the one time in history that we started to look at progressive policy, in 2020, it caused such a massive economic surplus that the rich freaked out and imposed artificial austerity.
Yes, and that's one of the reasons why it's ridiculous to compare the two situations. Jackson might have been able to spend his way out of the depression the market collapse caused but it wasn't paying off a debt that caused it.
Anarchist btw.
If you think that history is divided into discrete events, which you seem to do, you will never be able to parse what was going on.
It isn't surprising, since you openly claim to be a conservative, but the problem with most anarchists is that they are conservatives at heart and want to divide history into discrete moments in which a single great figure managed to change things.
From here is what I have heard from the mouths of multiple "anarchists" in 49/50 states, IRL. These are the people you are aligned with. : You are actively opposed to democracy, which means that you are actively opposed to the US Constitution. You don't believe in corporations, which I wouldn't have an issue with, but you are also opposed to nationalized co-ops. You want to keep money, but you want to somehow get rid of capitalism? None of this shit works in the real world, which just underscores your complete lack of ability to take a look at multiple variables at once. In case you didn't know, Jackson policies created Keynsean economic theory, and the lack of the gold standard. Do try to keep up.
Comparing the two situations is perfectly logical once you realize that one literally created the other in the case of the US.