Posted on 09/22/2024 5:40:43 AM PDT by ChicagoConservative27
Bridgewater Associates founder Ray Dalio says America’s $35.327646622839 trillion national debt will continue to grow no matter who wins the race for the White House.
In a new interview with Bloomberg at the Milken Institute Asia Summit 2024, Dalio says the fast-approaching November election represents a crossroads for a number of critical issues including taxation and the reach of the federal government.
The billionaire believes the national debt is bound to be ignored while the government uses inflationary policies to reduce the real burden of its debt.
“We have an enormous amount of debt, and it’s going to keep increasing. And one man’s debts are another man’s liabilities… Nobody’s going to deal with the debt policy. That’s going to end up being monetized down the path.”"
(Excerpt) Read more at dailyhodl.com ...
We can at least thank Ronald Reagan for indexing our Social Security and income taxes to inflation.
Well, ya think.
The point isn't (at this point at least) to stop the debt from growing but to slow its growth.
Kamala doesn't even understand what the National Debt is or where it comes from.
When will we need a wheelbarrow full of money to buy a loaf of bread like we heard in Germany in the 1930’s. The 1940’s were the result.
Yeah, but if those do nothing billionaires would just get taxed their fair share.............
Stop the bleeding and balance the budget. That would be the first step.
Yes she does but she has been instructed by the Politboro to not say a word about it. It is part of their plan to “fundamentally change America..” You know, a “New Way Forward” and all of that.
Baseline budgeting is the problem. If we spent 1 billion last year, we must have a baseline at least 50 percent more next year.
They’ll monetize at first, then there is no option but to repudiate it.
And your existing dollars will be exchanged for a New Dollar at some large discount.
Likely 50%.
And the entire world will burn.
An Overview of Perpetual Bonds
Some "perpetual bonds" were used to finance the 20th century wars, and of course today's reality is the financing of these last decades of war and more war.
This is why the text of our founding documents is so important. "We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty and the pursuit of Happiness.--That to secure these rights, Governments are instituted among Men, deriving their just powers from the consent of the governed, --That whenever any Form of Government becomes destructive of these ends, it is the Right of the People to alter or to abolish it, and to institute new Government, laying its foundation on such principles and organizing its powers in such form, as to them shall seem most likely to effect their Safety and Happiness."
from the Declaration of Independence
One watches the American Left and RINOs defend corruption and perpetual debt, such that it will become the "duty" -- as the Declaration" states is ours -- "when a long train of abuses and usurpations, pursuing invariably the same Object evinces a design to reduce them under absolute Despotism, it is their right, it is their duty, to throw off such Government, and to provide new Guards for their future security."
This predicts a time when "throwing off" will come. With it will also come the abrogation of the debt, as has happened in governments of all sorts in past centuries. Who will cry out in anger? Those receiving the "rent" on the perpetual bonds. They were and will always be a small group. Degrow government.
What an astute observation! No wonder he has billions of dollars!
National debt = $ 220 Trillion. = US federal debt plus the states and local debt .
https://freerepublic.com/focus/f-news/4258075/posts
Bring back these.
Pay off the National Debt in hyper inflated Federal Reserve Notes.
Do I have to tell these guys how to do everything?
And AOC has a degree in economics and doesn't know the law of supply and demand!
If someone could cut, slash, and hack at all the waste, there might be progress.
MANY programs and pet projects would need to be gutted thought.
Starting with the DoE and welfare type subsidies, especially to non-citizens, would go a long way.
thanks for sharing!
And Kamala’s father was a Marxist economist at Stanford. I think Marxist economist is an oxymoron.
Oh, we’re never paying that off. Even if there was an earnest effort to do so where all parties were on board, that’s an immense task. Now, throw in political division and stupid democrat/leftist fiscal policy along with the fed’s misguided monetary policy.
Yeah, it’s a matter of when, not if, something catastrophic occurs.
The only thing preventing the dollar collapse is the lack of an alternative. The yuan is a joke (and proof the Chinese are a confucian joke on themselves). Currently the only alternative flight is gold, but which is hard to spend, and thus is almost always converted in and out of dollars. #facepalm
Crypto is also almost always resolved in dollars, even when it is used to purchase goods (or Democrats, SBF-style), but if someone made a stable crypto that was fractionable into a useful daily currency that Joe Sixpack and Manual Laborez could use, and accept as payment (avoiding taxation), and spend thusly in the same manner, watch out.
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