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Abyss of economics

The world today is 281 trillion in debt to itself. There is no science more mysterious than that of money.

What drives my enthusiasm for finance is its underlying devotion to mathematics, just like most of the pure sciences. This pride in being extremely logical and putting rationality before empirical bias is what makes it worthy of a Nobel (though not the original one). But its influence on daily life is enormous, a genuinely distinct feat in pure sciences. So let's delve into the unapparent philosophical side of the currency.

281 trillion is a significant amount. If everyone called on their cards, we would have a lost game of poker. In fact, we have such a bluff on the table that we can't risk calling it. It is horrifying that this accounting deficit makes no difference to the world. Has there ever been a scam this benign?
Or do we need a piece of the puzzle?

The latter seems rational. The reason for this debt is simple, sovereigns have printed more and more money over the years. Every time in stress, that's what countries do. But, our economic knowledge says that printing more money should effectively devalue the currency. However, nations (with some exceptions ) have successfully mitigated this devaluation. In fact, the dollar has remained strong all this year, even with an enormous debt. Our trust in them explains this apathy for the country's debt honour.

The question remains: How are the creditors not claiming back the credit?
How are we sustaining this cycle of massive debts? The answer is more socio-political than mathematical. Because our currencies are no longer backed by a tangible resource (gold reserve for a long time), we have lost the real sense of money. Even if one pursued the most lavish life, he would not be able to use up a multi-billionaire value. Thus most of our money is kept away from us, with the confidence that it is secure. And most don't actually call this bluff.

In fact, this mathematical probability that all would not cash their balances at once gives room for creating an inflated economy. But in the more philosophical sense, it reminds us of the excess wealth we are generating, a wealth we have no means of using. And that some country in distress is making use of this former trust to spend this extra wealth. it (looks like capitalism paid its regards to Marx)

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