Posted on 02/03/2024 8:06:32 AM PST by Angelino97
“This is selfish, but I’m glad to be an older man with not much time left. Our children and grandkids however will be in for a horror story.“
Same. I truly feel for the young. Sincerely. I can’t imagine their world. Or perhaps I can
“Don’t many investors roll over maturing notes and bills, rather than cashing out?”
Correct.
The problem is that (for example) an old five year T bill is now paying 1%.
It “rolls over” at 5%.
If you take the total national debt and multiply it by 5% a year you have a stunning disaster on your hands.
Round numbers—a twenty trillion dollar national debt would mean one trillion a year in interest.
It is on the way to becoming a doom loop—the event horizon around a Black Hole.
That means everybody can talk talk talk and maneuver around here and there but at the end of the day the interest will exceed tax revenues and it is over.
But the peons just don't appreciate how good they have it with BIDENOMICS!
199 billion added in one month; we hit $34 trillion some time in December. Amazing.
We should have listened to Ross Perot when we had the time.
Biblical times are about to be repeated again, and again and again and again and again....so many refuse to know their maker and honor biblical teachings and history. SO, let’s just see what repeat gets us.
“So instead of paying anyone back, they just borrow new money to repay the old money.”
... at higher interest rates which just increases the interest on the debt even more. The increasing interest on the debt will eventually consume the budget.
Even more so, we have a debt limit uniparty congress problem. Which means we have a voter problem. Take about 20 trillion bucks of debt and divide it out to our entire population (87,000 new IRS agents could do it) of anyone over 18. Do this every three months except congress as they would get triple the bill, that would get their attention. Pure fantasy but fun typing it out.
Good point and I agree.
Pols have ever been the same as now...it just looked a bit different across the decades.
Press-releases, as they feather their own nests, fund pet projects, pass vote-buying legislation, crow about their “show votes” where they vote the “right way” knowing the issue won’t pass, have publicized play fights while making Uni-party deals taking care of their contributors as they sell out Amaeica...
A more recent critical component in our circling the drain is the main media. Historically of a progessive bent, post Watergate they drifted ever more and ever more openly to align solidly with the lib/prog trending of the Uni-party.
They were always the reluctant watchdogs, excepting vis-a-vis conservative, America-first issues - then they’d rip someone good. Now they are rampant cheerleaders openly lying in our face to spam fake news and hide anything not pushing Marxism.
The Fourth Estate totally abandoned their historical responsibility for responsible journalism, even to the partial degree as it was in the, say, 60s.
“If my grocer would just stop profiteering on food, we could kill inflation.”
Heh, heh! Yeah! It’s that corporate greed killing us!
Quit spending money!
Don’t give any money away!
No foreign aid! No benefits for illegal aliens!
Do away with welfare!
” I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents.” — James Madison
* As of February 1, 2024, the U.S. Treasury’s official figure for the debt of the federal government is $34.2 trillion, or more precisely, $34,155,015,629,669.[9] This equates to:
$101,651 for every person living in the U.S.[10]
$259,864 for every household in the U.S.[11]
I never thought I would wish I was older than I am.
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