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by toomuchtodo 425 days ago
No one wants to pay the true cost of civilization, because it is expensive and humans are cheap and short term driven.

The amount of debt, both on the books (~$36T US federal debt alone) and off books (~$9T for US infra refresh alone, climate, etc) is near $100T, if not more. Everyone's equity would be wiped out if we had to pay up. "Extend and pretend."

Financial Times: Why governments are 'addicted' to debt - https://www.youtube.com/watch?v=n1jhoU9Mp_U