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Posted on 9/20/17 at 4:16 pm to fareplay
quote:
We should just not pay and tell the other countries to deal with it
just as students should not repay their student loans and tell the government to deal with it
Except that the majority of the debt is held in the Mutual Funds and other large pooled small investor funds, it's NOT majority owed to nations.
Go ahead, tell the govt. to stuff their loan guarantees. When you get out of the debt from penalties, interest, fees and everything else the full weight and force of the economic giant throws at ya, you can tell our grandkids how that worked out. The IRS will come after you for it and the IRS has no 25% garnishment limits, no need to obtain a court judgement to lien everything you own either. (I had a defaulted loan customer once who the IRS allowed a flat $150/month for the couple to exist on including food, clothing, medicines, and housing. Yep, ended up writing that loan off.)
Posted on 9/20/17 at 5:34 pm to fareplay
quote:
We should just not pay and tell the other countries to deal with it
Only a small portion of the debt is owed to other countries.
Posted on 9/20/17 at 6:10 pm to fareplay
quote:
We should just not pay and tell the other countries to deal with it
And this is what will eventually happen in all reality. It's why no one in the government is actually paying any attention to the debt. It's hard for a debt collector to be very successful at collecting when you have the US military guarding your door. We will continue to accumulate debt at very low interest rates, pay the interest, and no other country is going to ever legitimately demand that we start paying principle. Where it will be a problem is when no one will loan us any more money.
Posted on 9/20/17 at 7:39 pm to fareplay
quote:
We should just not pay and tell them to deal with it.
If that happened what would they do? Are "they" (whoever "they" are) going to repo our jets, air craft carriers, tanks, and nukes? Are a bunch of curly headed Jew boys in suits going to yell at us? Are they going to break our legs? What exactly are they going to do? I'm seriously asking here.
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