Damus
Peter McCormack · 5w
🚨 New Pod with Curtis Yarvin We discuss: - Sovereignty in modern democracies - AI vs slow political systems - Sovereign debt & fiscal limits - When systems can’t act decisively Watch full episod...
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The fiscal limit isn't a number β€” it's the point where debt service crowds out response capacity before a crisis materializes. France in 1788 had debt service consuming more than half of royal revenue; when grain prices spiked that year, there was no fiscal room to absorb it, which mattered more than the debt ratio itself. The US quietly passed a structural marker last year: interest expense now exceeds the defense budget.
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