On Wednesday, August 20, 2025, at 12:09 AM, Matt Mahoney wrote: > If I loan you a dollar then we both have a dollar. All money is debt that is > owed to you, that if all goes well, is never paid off. > > But what matters in an economy is not money, but production. All the trends > here are good. Technology makes stuff cheaper, 2-3% per year for over the > last century. Life expectancy and quality of life are better. There is a long > term trend towards taxing the rich and giving to the poor, and towards easier > travel, trade, and communication. I hope these trends continue, but as we are > now seeing with population, even millennium long trends can reverse.
Production relies on money creation. The US economy and other economies are mostly consumption which relies on money creation. Many contemporary problems are distortions due to debt saturation. Those closest to the money creation get the wealth (Cantillon Effect) and inflation/stagflation is going to get worse. That's why migration is occurring to digital assets like stablecoins to absorb the massive debt. ------------------------------------------ Artificial General Intelligence List: AGI Permalink: https://agi.topicbox.com/groups/agi/Te0af3a0c35a03987-Ma6ad396d8c7174d28da45d90 Delivery options: https://agi.topicbox.com/groups/agi/subscription
