Do you believe that there is any way that the US can or will EVER pay off the major portion of that debt?
Nope.
Should they?
Nope. The economy tanks without debt. How do we pay for major infrastructure projects without debt? Do you understand anything about economics? All this debt hew and cry is just to get you rubes riled up. Do you have a clue what govt debt really is? Do you know who holds the vast majority of US debt? It ain't China. Do you understand how govt debt even works?
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens
Facts don't lie or have an agenda. Facts are just facts
"God did it" is not an argument. It is an excuse for intellectual laziness.
If your viewpoint has merits and facts to back it up why would you have to lie?
Nothing he has ever posted demonstrates understanding government debt or even general economics.
Stop Tzar Vladimir the Condemned!
What if Eleanor Roosevelt had wings? -- Monty Python
One important characteristic of a theory is that is has survived repeated attempts to falsify it. Contrary to your understanding, all available evidence confirms it. --Subbie
If evolution is shown to be false, it will be at the hands of things that are true, not made up. --percy
The reason that we have the scientific method is because common sense isn't reliable. -- Taq
Do you know who holds the vast majority of US debt?
Yes. the Federal Reserve itself.
Krugman is a modern monetary theorist, which is not the final word.
The problem with you liberals is that you want the government to control the flow(and value) of money rather than the free market. Im not going to argue with you guys. We disagree. You think i'm stupid. I think you are all deluded.
Of course I'm no financial genius, but all I have to do is to read more than you do.
Most experts don't see it happening overnight or within the next year, but if you look 5 years ahead, you will see a dramatically different situation.
quote:The US is severely dependent on currency printing. Every issue they encounter will always be solved by printing dollars and pouring them on top of it.
You work. I assume you save and invest. Do you hold 1 oz krugerrands in your mattress?
If we're 5 years from currency apocalypse, I assume you don't keep soon-to-be worthless, fictional paper in banks or investment funds.
When I cruise right wing media (usually Sunday morning, when my small village's serene blend of sanctimony and hangover keep me calm), I see lots of gold: doomsayers saying it, show hosts hawking it, print ads for it sandwiched with survivalist gear.
Are you a gold bug, Phat? Is that where you place your faith?
I only want to see an economic collapse to see the look on the faces of the goldbugs when they realize they have no access to the precious metals they supposedly own and that the gold, silver and platinum they do possess is worthless in acquiring food and shelter.
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens
Facts don't lie or have an agenda. Facts are just facts
"God did it" is not an argument. It is an excuse for intellectual laziness.
If your viewpoint has merits and facts to back it up why would you have to lie?
You work. I assume you save and invest. Do you hold 1 oz krugerrands in your mattress?
I can't afford to buy gold. I have very little, but I do not keep it around the house, despite living in a relatively safe neighborhood.
If we're 5 years from currency apocalypse, I assume you don't keep soon-to-be worthless, fictional paper in banks or investment funds.
Most sources whom I trust say that it wont likely be an outright collapse but, rather, a hyperinflationary (or perhaps even deflationary) scenario. The US dollar, despite its problems, remains the primary global reserve currency and is far ahead of its rivals. The entire issue is one of trust. If the world-at-large loses faith that the debt that they hold in treasuries and other assets cannot be repaid, the result will be a collective dumping of inflated US dollars back on our country.
Omni writes:
When I cruise right wing media (usually Sunday morning, when my small village's serene blend of sanctimony and hangover keep me calm), I see lots of gold: doomsayers saying it, show hosts hawking it, print ads for it sandwiched with survivalist gear.
Granted the idea takes on a conspiracy theorist fringe element, and my critics are right in that many shysters profit off of fear. That being said...
Patrick Bet David (himself worth 200 million...look it up) sums the situation up in this short video.
And just so you know, these videos are well made and explain the situation as well as any economics professor could. I know many will disagree, but the information is out there.
I only want to see an economic collapse to see the look on the faces of the goldbugs when they realize they have no access to the precious metals they supposedly own and that the gold, silver and platinum they do possess is worthless in acquiring food and shelter.
If that day ever comes, I would like to see the look on the face of progressives when they realize how much of an idiot Joe Biden was (36% approval rating and dropping) when he spent all of this money on green new deals,shut down the US petroleum industry, and sanctioned Russia by using the US dollar as a weapon. You may even find Jesus during such a time.
Irrelevant. Many people that know little about the economy and international finance have lots of money. What are his credentials? Does he have any degrees? Why should I trust him more than Paul Krugman, who does not put out sensationalistic videos? Tell us what he claims. We are not going to watch his video. You realize that is how he gets paid?
And just so you know, these videos are well made and explain the situation as well as any economics professor could.
Well-made is irrelevant and actually a red flag. No, they cannot explain it better than an economics professor. They are feeding your biases.
What can be asserted without evidence can also be dismissed without evidence. -Christopher Hitchens
Facts don't lie or have an agenda. Facts are just facts
"God did it" is not an argument. It is an excuse for intellectual laziness.
If your viewpoint has merits and facts to back it up why would you have to lie?
The entire issue is one of trust. If the world-at-large loses faith that the debt that they hold in treasuries and other assets cannot be repaid, the result will be a collective dumping of inflated US dollars back on our country.
OK, so by "collective dumping of inflated US dollars back on our country" do you mean they are buying something from us "with inflated US dollars" or do you mean they are sending shiploads of U.S. currency and dumping it in our harbors kind of Boston tea party style? Can you clarify?
Most sources whom I trust say that it wont likely be an outright collapse but, rather, a hyperinflationary (or perhaps even deflationary) scenario.
Nice prediction covering all your bases...according to Phat sooner or later there is going to be some kind of economic disaster.
I would say the most likely event will be directly caused by those fucking idiot GOP in the U.S. House of Representatives that are going to intentionally cause the United States to default on its debt for the very first time ever.
Stop Tzar Vladimir the Condemned!
What if Eleanor Roosevelt had wings? -- Monty Python
One important characteristic of a theory is that is has survived repeated attempts to falsify it. Contrary to your understanding, all available evidence confirms it. --Subbie
If evolution is shown to be false, it will be at the hands of things that are true, not made up. --percy
The reason that we have the scientific method is because common sense isn't reliable. -- Taq
If that day ever comes, I would like to see the look on the face of progressives when they realize how much of an idiot Joe Biden was (36% approval rating and dropping) when he spent all of this money on green new deals,shut down the US petroleum industry, and sanctioned Russia by using the US dollar as a weapon. You may even find Jesus during such a time.
I remain baffled that you're still such a rube for slick videos, that you think insults convey any useful information, and that you can't get basic facts straight. There's no point in engaging with you because the flow of nonsense is unending. There's no point in providing accurate information because you'll either ignore it, not understand it, or forget it by tomorrow.
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