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Do you believe government financial collapse is inevitable?
Posted on 4/28/24 at 8:42 pm
Posted on 4/28/24 at 8:42 pm
A couple years ago I foolishly believed that if Republicans could take the House then we could start to get spending under control. Joke's on us, debt has gone up 3 trillion since they took power in Nov 2022.
They kicked out McCarthy who betrayed the trust and replaced him with trustworthy Mike Johnson who immediately betrayed the trust. 95 billion sent overseas at first opportunity.
Clearly both sides cooperate and it doesn't matter who's in power, the debt is just going to keep going up. It won't be long until interest payments on debt consume all tax revenue. There's only so much tax revenue you can squeeze out of people before they give up.
At our current rate we'll be at 40 trillion by probably 2030. No side ever cares about decreasing it. So either money isn't real and they can borrow to infinity/print 40 trillion to pay it off or the system is going to collapse in a magnificent way and we're going to face two decades of pain.
They kicked out McCarthy who betrayed the trust and replaced him with trustworthy Mike Johnson who immediately betrayed the trust. 95 billion sent overseas at first opportunity.
Clearly both sides cooperate and it doesn't matter who's in power, the debt is just going to keep going up. It won't be long until interest payments on debt consume all tax revenue. There's only so much tax revenue you can squeeze out of people before they give up.
At our current rate we'll be at 40 trillion by probably 2030. No side ever cares about decreasing it. So either money isn't real and they can borrow to infinity/print 40 trillion to pay it off or the system is going to collapse in a magnificent way and we're going to face two decades of pain.
21
Posted on 4/28/24 at 8:44 pm to Thundercles
quote:
Joke's on us, debt has gone up 3 trillion since they took power in Nov 2022.
It was Jan 2023, and with a slim majority. Also I take it you think the GOP actually gives a damn about fiscal responsibility.
Posted on 4/28/24 at 8:44 pm to Thundercles
As soon as a currency more stable than the US dollar comes along then it will collapse
The thing is that every other country in the world is also doing stupid shite with their currency
The thing is that every other country in the world is also doing stupid shite with their currency
This post was edited on 4/28/24 at 8:45 pm
Posted on 4/28/24 at 8:46 pm to Thundercles
To paraphrase some alt media guy I read about 15 years ago, the U.S. monetary system is a debt-based, fractional reserve banking, infinite growth pyramid scheme.
This post was edited on 4/28/24 at 8:48 pm
Posted on 4/28/24 at 8:46 pm to Thundercles
quote:
government financial collapse i
Your premise is flawed. Govt only uses taxpayer funding. They are currently bleeding taxpayers dry. Wake up.
Posted on 4/28/24 at 8:47 pm to Thundercles
In my life, only time we reduced our deficit was under a democrat president- Clinton.
Since then, both sides have shown little restraint in the ability to cut spending. Lots of talk but no action.
I’m not sure anyone can get elected in our system by telling their constituents that they’ll bring less money back home. ??
Since then, both sides have shown little restraint in the ability to cut spending. Lots of talk but no action.
I’m not sure anyone can get elected in our system by telling their constituents that they’ll bring less money back home. ??
Posted on 4/28/24 at 9:04 pm to Thundercles
quote:
At our current rate we'll be at 40 trillion by probably 2030.
It won't take that long.
Posted on 4/28/24 at 9:08 pm to Thundercles
quote:
Do you believe government financial collapse is inevitable?
If they don't get the spending under control, yes.
Posted on 4/28/24 at 9:08 pm to Thundercles
If something doesn't change in the next few years, yes.
Posted on 4/28/24 at 9:14 pm to Thundercles
quote:
Do you believe government financial collapse is inevitable?
Collapse? I'm not sure. I do know, though, that "getting it under control" and "paying it down" is impossible. Politicians do not have the spine and the public would not bear the pain that even balancing the budget would require.
MMT and how societies at a global level view, debate, and manage public debt is going to be the great test of the 21st century when it is all said and done.
Posted on 4/29/24 at 12:20 am to Thundercles
Hey, America is exporting inflationary dollars to the world. That isn't going to work for ever.
Posted on 4/29/24 at 12:33 am to Thundercles
It already has. We are a slave state to the rest of the world, or at the very best, just another cog in the wheel. We exist to put money (and protection behind that money) into their nations. They leverage our research and development, leverage our armed services, leverage our "elected officials", all paid for with our labor. We've definitely committed the next 100 years of Americans to indentured servitude. Short of something wild happening of course.
Not sure what you call it, but it doesn't seem like we're in charge of shite anymore.
Not sure what you call it, but it doesn't seem like we're in charge of shite anymore.
This post was edited on 4/29/24 at 12:38 am
Posted on 4/29/24 at 5:56 am to Thundercles
quote:
So either money isn't real and they can borrow to infinity/print 40 trillion to pay it off or the system is going to collapse in a magnificent way and we're going to face two decades of pain.
Money is real, but it’s value isn’t static. They CAN and ARE printing any amount they wish.
You answered your own question, the only intrigue is how this is going to look, and what form your wealth is held in, and how you, personally, defend it.
Posted on 4/29/24 at 6:11 am to Thundercles
quote:
They kicked out McCarthy who betrayed the trust and replaced him with trustworthy Mike Johnson who immediately betrayed the trust. 95 billion sent overseas at first opportunity.
There are two likely explanations for this.
1. They are all part of the uniparty, and it’s a conspiracy. If you believe this then Trump is clearly part of it as well, because he blessed this latest deal.
2. Almost everyone who gets all of the data realizes that supporting Ukraine and Israel is vital.
I believe #2. I know that’s not popular on here, but I’ve travelled extensively in that area, I’ve read tomes and tomes of history, and I’ve been following foreign policy for 45 years.
Posted on 4/29/24 at 6:12 am to Thundercles
The Government will and is collapsing the USD in order to implement “fundamental change) via “the great reset “. All formerly private assets will go into the (new) ‘Government’ kitty for DEI disbursement. This is inevitable given the massive wave of needy immigrants that will wreck the Nation if they are targeted with deportation. This ship has sailed.
Posted on 4/29/24 at 6:54 am to Thundercles
Unfortunately, the candidate(s) that runs on a fiscally conservative platform who actually discusses cutting our deficit in hopes of whittling down our debt is never going to win public office. In the unlikely event said candidate does win office, they learn quickly that Americans have little palate, if any, for making the sacrifices it would require.
Yes, I’ve major issue with Johnson sending billions in aid abroad, but Americans act like it’s Monopoly money anyway.
Yes, I’ve major issue with Johnson sending billions in aid abroad, but Americans act like it’s Monopoly money anyway.
Posted on 4/29/24 at 7:43 am to Thundercles
In order to achieve one world order and digital currency, the U.S. and the dollar have to fail. After that happens, the remaining countries in the world will fall like dominoes.
The mega rich and the super powerful will control the world and we will lose complete control over all of our freedoms. Prices will skyrocket, wages will fall. personal ownership will be diminished and the government. will be in total control of every facet of our lives.
Look around, its already started. The conflicts we are facing are financed by the rich. Our government is complicit because their pockets are being lined by the mega rich.
Its part of the master plan, Its just a matter of time.
The mega rich and the super powerful will control the world and we will lose complete control over all of our freedoms. Prices will skyrocket, wages will fall. personal ownership will be diminished and the government. will be in total control of every facet of our lives.
Look around, its already started. The conflicts we are facing are financed by the rich. Our government is complicit because their pockets are being lined by the mega rich.
Its part of the master plan, Its just a matter of time.
Posted on 4/29/24 at 8:04 am to Thundercles
Yep,
Just a matter of whether we run in the ground or a disaster strikes first.
Just a matter of whether we run in the ground or a disaster strikes first.
Posted on 4/29/24 at 8:44 am to Thundercles
quote:
At our current rate we'll be at 40 trillion by probably 2030
It's going to happen way before 2030.
Posted on 4/29/24 at 8:49 am to Thundercles
quote:
At our current rate we'll be at 40 trillion by probably 2030. No side ever cares about decreasing it. So either money isn't real and they can borrow to infinity/print 40 trillion
The spending problem starts with Congress with the purse is controlled by the House. The problem extends to voters who will not prioritize fiscal responsibility when elections roll around.
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