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re: A visual representation of the staggering amount of our national debt
Posted on 2/23/23 at 9:46 pm to diat150
Posted on 2/23/23 at 9:46 pm to diat150
quote:
we will never pay that off
We don't have to. The entire world is a house of cards. We owe everyone, but we have the most guns. We also buy the most shite. We have debt, but other countries are dependent on us to buy their shite and keep their countries afloat. Call in that unfathomable debt. What happens?
At a certain point, it doesn't matter. A trillion? A hundred trillion? What comes after a trillion? We may find out, but it won't matter. We will just print more money and keep rolling. Numbers like that, at this point, mean nothing.
3
Posted on 2/23/23 at 9:48 pm to LegendInMyMind
quote:
At a certain point, it doesn't matter. A trillion? A hundred trillion? What comes after a trillion? We may find out, but it won't matter. We will just print more money and keep rolling. Numbers like that, at this point, mean nothing.
Until the yen supplants the dollar and our treasury can no longer pay its debts.
Posted on 2/23/23 at 9:49 pm to LegendInMyMind
quote:
We don't have to
This.
We will only run in to problems when countries no longer want to hold their assets or trade in dollars. Only something like a global conflict in which we try to exclude major players from the board could move the needle enough for all the small baws to think that doing business with DC might work against them. That'll never happen.
Posted on 2/24/23 at 8:32 am to LegendInMyMind
Yes, the world is a shared fiscal house of cards, but even so it will all have to reset in our lifetimes because it’s becoming hopelessly unstable.
There is no private finance structure that isn’t entirely dependent on cheap or free money being printed by the fed. Without overnight lending by the fed for example there isn’t a single major us bank who would be able to cover its exposure per federal guidelines come Monday. Not one.
As mentioned earlier, they’ve already raided social security which will be unable to meet its requirements within a decade and the debt service alone will be our #1 spend item within a similar time period.
The only question is whether we can reestablish dollar hegemony through implied or direct violence and what follows the reset.
There is no private finance structure that isn’t entirely dependent on cheap or free money being printed by the fed. Without overnight lending by the fed for example there isn’t a single major us bank who would be able to cover its exposure per federal guidelines come Monday. Not one.
As mentioned earlier, they’ve already raided social security which will be unable to meet its requirements within a decade and the debt service alone will be our #1 spend item within a similar time period.
The only question is whether we can reestablish dollar hegemony through implied or direct violence and what follows the reset.
This post was edited on 2/24/23 at 8:39 am
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