![]() ![]() The one most discussed is income inequality: rich Chinese individuals (like rich Americans) retain a disproportionately high share of household income. China suffers from two forms of income distortions that limit demand for Chinese businesses. The same is true of China, but for slightly different reasons. That is because high levels of income inequality, as I explain below, force a contraction in sustainable demand in the U.S. ![]() trade deficit-that automatically reduce the demand available for American businesses. In the United States, rising debt is how the economy balances the impact of conditions-including most importantly high levels of income inequality and the large U.S. ![]() and Chinese economies, with similar causes for rising debt and mirror images in the ways in which rising debt occurs. Rising debt, in other words, is baked into the current structures of both the U.S. Even with the strictest controls, until more fundamental changes are made to the two economies, either debt must continue to rise or growth must slow to politically unacceptable levels-levels that cause unemployment to rise. While it is indeed likely that part of the debt in both countries is due to profligacy, irresponsible behavior, and even fraud, these do not explain the bulk of the increase in debt. In the United States and China, rising debt is structural, and necessary to the way in which their economies currently operate. The press is full of stories about regulators attempting to clamp down on hidden local government debt and fraudulent borrowing practices, suggesting that once the regulators impose borrowing discipline on local governments and state-owned enterprises, rising debt will no longer be a problem.īut in both cases, this is confused thinking. There is a similar debate within China about the surge over the past ten to fifteen years in local government debt. The purpose of the debt ceiling, by this logic, is to impose discipline on lawmakers. government implicitly (and sometimes quite explicitly) assumed that rising debt is a measure of Washington’s profligacy, and that if only policymakers were a little more frugal or a little less irresponsible, the American debt burden would stop rising. In March 2021, the rant became the subject of several remixes and edits that used it as an exploitable, later spawning Stop Posting About X edit format.The urgent debate earlier this year about the establishment of a binding debt ceiling for the U.S. Stop Posting About Among Us refers to a viral rant about an overabundance of Among Us memes recorded by TikTok user biggayrapper. Related Memes Stop Posting About Among Us On May 21st, YouTuber Tokplugg posted a compilation of videos using the sound, gaining over 900 views in a day (shown below). On May 20th, TikToker posted an animation using the sound, gaining over 4.7 million views in three days (shown below, right). For example, on May 18th, TikToker posted a video using the sound, gaining over 2.2 million views in five days (shown below, left). The sound became popularized in May in a series of ironic lip-dub videos where users mistake the lyrics with "I found Among Us," inspiring over 14,000 videos by the 23rd. On April 6th, 2022, TikToker posted a video set to a clip of the song giving users a set of rules to follow, gaining over 1.4 million views in a month. The video gained over 853,000 views in seven months. On October 18th, 2021, YouTuber Memnicus posted a remix of DVRST's song "Close Eyes," replacing the lyrics with the repeated phrase "Stop posting about Among Us" from the viral video of the same name (shown below). ![]()
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