Mark Moss argues the $37 trillion debt isn't the real problem; paying it off would cause deflation by shrinking the money supply. In a debt-based system where banks create money through lending, the debt itself fuels wealth creation, not savings alone.
How concerned are you? Because I hear these doomsayers on X, they're like, oh my God, we have too much debt. I'm like, bro, that's been said for 60 years.
Yeah. The, the nation has what, $37 trillion of debt today? Is that a bad thing? Well, I could argue that if they pay that debt off, it's probably much worse cuz that would cause massive deflation if you destroy that debt, right? The money supply always has to continue to grow. So the problem really comes down to how manageable is that debt, right? You use a lot of debt. Is it bad? Well, not if I can manage it properly. And so you have to understand, when I was a kid growing up, my parents would be like, hey, it's not like we have a money tree. Well, we do. We all have a money tree. It's called the bank. Exactly. They'll give us money whenever we want. And so because we're in a debt-based monetary system, not a gold equity system, the way to build wealth is with debt. That's the way to do it. Now you can be Dave Ramsey and you can save your way, but you won't save your way to wealth because we're not in an equity system.
