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Message
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 8:59 pm to SlidellCajun
quote:
In my life, only time we reduced our deficit was under a democrat president- Clinton
how does a president reduce a deficit?
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 9:04 pm to jamiegla1
quote:
quote:
In my life, only time we reduced our deficit was under a democrat president- Clinton
how does a president reduce a deficit?
He didn't say Clinton did it. He said it was under Clinton. And peeling the onion, it was a combination of pretty decent fiscal management from Congress combined with a bubble that ended up bursting but created a surplus before it did.
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 4/28/24 at 11:55 pm to TigerFanatic99
2025 and their solution is to usher in a global CBDC.
All intentional too.
All intentional too.
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 5:55 am to Cosmo
quote:
As soon as a currency more stable than the US dollar comes along then it will collapse
The rapidly increasing debt load strips a little more of that stability each day. Regardless of what other currencies are doing, unless something changes within the next decade we're going to see the USD crash due to not enough investors being willing to invest in US debt regardless of the returns.
It's like the skinniest kid at fat camp eating at the buffet table, eventually he's not going to be the skinniest kid any longer.
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 6:16 am to Penrod
quote:
2. Almost everyone who gets all of the data realizes that supporting Ukraine and Israel is vital.
If this rampant overspending leads to fiscal collapse, and it will, then Ukraine and Israel will be the least of our worries. And when WE call THEM for help, there'll be no one there to take the call.
We. Are. Broke. Every conversation about printing money to cover overspending should start there.
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