Posted on 01/23/2023 6:14:17 AM PST by Red Badger
Sorry, but the US is not insolvent. This kind of nonsense has deluded conservatives for too long. It’s gotta stop. There are bigger issues than this stuff. There are so many other issues that deserve center stage other than this phony, Chamber of Commerce “issue”.
The best advice anyone ever gave me was, “Avoid debt”. Sometimes I think I live like a miser, but I am both personally frugal and generous to family.
But what a hell of a toboggan ride to the bottom!
“Our leaders in Washington could try to reverse course by balancing the budget, but that would lead to a short-term economic disaster.
Just think about it. What do you think would happen if a couple trillion dollars of government spending was suddenly sucked out of the economy?
We would immediately plunge into a horrifying economic depression.”
At least he is honest about what a balanced budget would do in the short term.
“CEO Sundar Pichai”
“Google’s search boss Prabhakar Raghavan”
Making room for more fellow countrymen?
Neither a borrower nor a lender be...........Shakespeare.............
It’s not just the us. It is civilization as we know it.
The US government borrows money from the Federal Reserve, which has computers that conjure it up.
The real impact is on the inflation they are generating. They are trying to minimize the burden of 3% debt by creating 7% to 10% inflation.
Anybody that has money in a CD or savings account is getting cheated out the value of their savings.
The main alternative is to buy stock in companies, most of which are still overvalued.
Are these people really that good at their jobs? Seems like just about every CEO, COO, Cxx is from the subcontinent or at least has that name.
I sort of get depressed every time a store raises a price.
Every person with dollar-based financial accounts in the USA is going through a depression in the value of their money.
In other breaking news: Sun unexpectedly rises in the East.
Some of them are actually smart.
However if a company is laying off 10,000 people it is an indication that lots of bad hiring decisions were made. It is also a sign that other bad decisions were made.
Join the club U.S........... Thanks pols.
In the words of George Reisman, the author of "Capitalism", "A large national debt is a burden on the economy that can lead to inflation, decreased standard of living, and a lack of foreign investment. It also puts a strain on the government's ability to fund necessary programs and can lead to higher interest rates for both the government and private citizens."
Nothin’ a little WW3 won’t take care of
Like me.......................
I surveyed a number of definitions of "insolvency," and think your assertion is essentially false. While one "pays bills" with adding to the aggregate debt is "paying bills" today, it is also amassing ever larger bills to pay tomorrow.
So if one wishes to play with definitions per se, it would be better to say that the federal government is involved in a massive and now multi-generaitonal "check kiting" scheme.
No matter how one makes prose -- language to replace numbers and graphs -- the prose cannot wipe away some simple observations. The largest of these is the well-tested "extend the curve" in terms of the graphs posted by Red Badger.
How does Bishop Malachi extend that graph into the future? With a leveling off? Or a downturn? Or with a continual upward rise soon to become catastrophic?
The normal definition of a Ponzi scheme aka "snowball scheme" and other such fiscal games is to take now and the "last rube in" is stuck with the bill (loss). Insolvency comes at the end of the check kiting or Ponzi scheme, but it comes.
But since everyone else is in hock up their eyeballs like us, that doesn't happen.
I’m typing on a google chromebook because my hand-me-down Mac and Windows 10 machine won’t use USB tethering, but this 10-year-old chromebook does.
This chromebook doesn’t waste half an hour of my time almost every day updating itself unlike some other machine.
This chromebook does have a back menu that appears when I attempt to use the right hand slider bar. It also doesn’t show the slider bars all the time, an annoyance I know how to avoid on my Mac.
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