

If you have 20 minutes to spare this video really helped clear it up for me.
It might seem unrelated at first, but bonds will be discussed approx. 5 minutes in, and the preceding parts helps lay the groundwork.
I’d later come to understand this is called Modern monetary theory.
A bit meta: That people who were wrong or mistaken about something just needed it explaining more clearly, and then they would stop saying things which are wrong or mistaken.
I wasted far too many years of my life trying to convince father-in-law of so many things, only to realize there is nothing that can be said to disabuse him. The problem wasn’t the lack of facts or clarity of explanation, it’s that he is fundamentally incapable of acquiring new information if it’s inconsistent with his prior understanding or belief.
Moreover I realized that where I am ashamed of being inaccurate or uneducated about something (and so am keen to correct myself), for him it’s always the case that I must be wrong or mistaken, because he can never be wrong or mistaken.