We have warned the millennials that 5% of their paycheck is dedicated to federal debt service. This is before they get any benefits from the debt at all.
AOC is still voting yes to ding her constituents, all of the millennials with this interest cost. Ask her, specifically, why no consistently vote no on the deficit? Once we get the view of her millennial voters we will have answers to the puzzle.
Was it the Bernanke tax trick?
Quantitative easing was the father of millennial socialism
Was it the Bernanke tax trick?
Quantitative easing was the father of millennial socialism
As long a the Fed continues QE, is the claim, the defaults can be forestalled. This is the Bernanke equivalent of MMT.
But this misses the point about spiral. QE is a tax on the bond industry, which passes the tax down the chain as a regressive ATM fee. So for a socialist, this is a miracle, an automatic regressive communist tax.
Except it does not last, a tax is a tax is a tax, and eventually the deposit banks simply increase the excess reserves, liquidity taken from the millennials and given to government. It is soon that millennials find themselves mired in private sector poverty.
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