Posted on 03/05/2021 8:42:09 AM PST by Kaslin
For later.
L
I stopped worrying about the debt when I realized it wasn’t going to be our country much longer.
Anyone believe that the national debt will ever be paid? Or even the interest? Maybe pedo joe’s pals the ccp can bail us out.
Just WIPE the debt.
Problem solved.
This is all true. However, all Western industrialized countries are in the same boat — which is what is saving our bacon. Japan is worse than we are. Germany is probably in the best shape.
Like with a cloth.....?
If the U.S. goes bankrupt, won’t China go bankrupt?
The communist takeover of America is trivial?
Anyone believe that the national debt will ever be paid? Or even the interest? Maybe pedo joe’s pals the ccp can bail us out.
Yeah.... if you have loaned a lot of money to someone, the last thing you want is for them to go bankrupt.
I agree.
On the one hand, there is no way we can pay off the debt.
On the other hand, there is “no way” we would ever just default on our debt.
We have to choose between those two and I think the choice is pretty obvious.
Defaulting on the debt will cause pain, but mostly pain for bankers. And they deserve the pain.
We need an Article V convention and we need a balanced budget amendment. Then wipe the debt.
“Wipe the debt”
And with it, banks fail, insurance companies fail, pension funds fail, all kinds of companies fail, mutual funds are massacred, and that is just a start.
Hard to comprehend all that would happen.
What, there is a downside to spending two trillion dollars a year in imaginary money?
“The debt” and the “dafficit”. I’ve been hearing the doom and gloom predictions for DECADES!
What economic disaster has befallen us? NONE!
Inflation (near zero). Interest rates (near zero or negative)
Stocks, 401Ks soaring during a pandemic.
“THE SKY IS FALLING, THE SKY IS FALLING!”
Still waiting, Chicken Little.
No. If we could fast forward 100 years, I think the debt will be a million quadrillion bitcoin.
comparing debt to gdp is nonsensical.
tax revenue v debt: debt is 7x tax revenue
Not all will be paid. The Fed will keep printing money to pay it until there is hyperinflation.
Time to Start Talking About America’s Coming Bankruptcy
The writing was on the wall in Spring of 2008 when they started QE. We’ve been living on borrowed time ever since.
And this ain’t just the US. It’s the entire world’s economy that is on the brink. It just needs that one event to reach critical mass. We won’t know it ‘till we see it.
Frankly, the lockdown may have been it. This hints at the reason for my tag line.
That depends on which side of the "debt" you hold. If you owe, you're happy to have the debt wiped. If your "owed" i.e. the creditor, wiping the debt is stealing your asset. Do you have mortgage debt? The collateral for the debt is the land and property. Wipe the mortgage and expect instant eviction from the collateral. Debt and equity erased along with instant homelessness.
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