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re: Elon Musk is very concerned about the US going bankrupt
Posted on 12/3/24 at 11:38 pm to John Barron
Posted on 12/3/24 at 11:38 pm to John Barron
Someone should explain to Elon the brilliance that is modern monetary theory, and that debt doesn’t matter.
0
Posted on 12/4/24 at 12:45 am to Thecoz
quote:
Appears it does not matter which party is in anymore
The momentum of spending/entitlement isn’t going to be stopped by anyone at this point. It’s just a matter of time.
Posted on 12/4/24 at 2:14 am to John Barron
Greatest waste of wealth. This country could be a pristine example of how to nation build and create smart beautiful well working infrastructure. Instead we have spent trillions of tax payer money to fund wars that would make billions of dollars for the well connected 1%.
Posted on 12/4/24 at 2:37 am to John Barron
quote:Only if it guts SS and Medicare (and it won’t).
Hopefully DOGE can prevent this.
Posted on 12/4/24 at 2:38 am to momentoftruth87
quote:Show us what you think will be so easy to cut.
Pretty easy fix in my opinion
Posted on 12/4/24 at 2:41 am to momentoftruth87
quote:
Yes we should be negotiating global debt owed.
what could possibly go wrong? FWIW China owns only about 2.6% of the federal debt. Outright default won’t even make a dent. Posted on 12/4/24 at 2:54 am to momentoftruth87
quote:
Stop giving away money
That alone would do it
Posted on 12/4/24 at 2:57 am to 10thyrsr
quote:
The reason he says this is because money is bullshite as long as the FED is around. Remember, we aren't on the gold standard. We print money to keep us out of debt (frick the Americans who work and get their dollar devalued every time they do). And the best part is, nobody can say boo as long as we are the strongest militaries out there. Our fighting force is our gold standard. That is why it is so important to them that Ukraine "wins" with our backing. If Ukraine loses with our backing it will weaken the dollar because our might vs BRICS would be diminished.
If we go bankrupt our military strength will too. Then the whole world order caves in. L
Posted on 12/4/24 at 3:16 am to wdhalgren
quote:
We are already bankrupt. Both morally and financially.
There is no such thing as moral bankupcy.
Show me a court ruling where someone has been shown to be bankrupt with a lot of money in the bank but due to "morals".
Moral bankrupcy is just a cut way to say "we do not live a moral Christian life" - the way I see it being correctly lived.
Okay, that said, go ahead and impose it. Want a non morally bankrupt America, fine, outlaw DraftKings and other gambling and shut down Atlantic City and Las Vegas and all the Casino boats in Mississippi. And ban porn on cable tv and shut down porn sites on the internet. That will improve morals. And have people monitor sites like tigerdroppings.com and have the ability to delete posts that are "too risque". While at it, ban all gay and lesbian things, including websites that feature it (which are - basically all websites - especially hetero male one's - they all live off of lesbi sex scenes) and ban alcohol, the devils brew after all.
See how popular you are fighting this moral bankrupcy.
This post was edited on 12/4/24 at 3:23 am
Posted on 12/4/24 at 3:51 am to idlewatcher
quote:
The ironic thing here is we’ve elected the very people who shouldn’t be anywhere around our tax money.
Not sure what you mean here. If you are talking about the Dems in 12 of the past 16 years, I agree.
Posted on 12/4/24 at 6:01 am to theunknownknight
quote:
The momentum of spending/entitlement isn’t going to be stopped by anyone at this point.
I’m going to disagree, not because I think you’re wrong but because I hope you are. And I think there is a solid shot we get control of this.
There is quietly a very strong agreement, across the political aisle, that we need to pivot to deficit control. Biden would not do it, because he was in the grips of his leftmost stalwarts. I think DOGE will find a compliant Congress in 2025.
Posted on 12/4/24 at 6:09 am to SlowFlowPro
quote:
quote:
Hopefully DOGE can prevent this
It cannot. Not enough meat on the bone
Give it time. Let's see what happens the next 4 years. There's definitely change in the air, that's why Trump won.
Posted on 12/4/24 at 6:10 am to Mandtgr47
quote:
Not sure what you mean here. If you are talking about the Dems in 12 of the past 16 years, I agree.
And let's not forget the Rinos elected that haven't stood against it.
Posted on 12/4/24 at 6:11 am to lake chuck fan
I’m for each citizen paying $120,000 to wipe out the debt IF we can start from scratch. Wipe out every agency and start over.
Posted on 12/4/24 at 6:34 am to Rebel
quote:
We are already bankrupt.
Both morally and financially.
One begats the other
Posted on 12/4/24 at 6:34 am to 10thyrsr
quote:
And the best part is, nobody can say boo as long as we are the strongest militaries out there. Our fighting force is our gold standard. That is why it is so important to them that Ukraine "wins" with our backing. If Ukraine loses with our backing it will weaken the dollar because our might vs BRICS would be diminished.
This works when your debt to GDP is below 80. Our debt to GDP is well above 80, and turning logrythmic. It can no longer be ignored without fiscal collapse, and not ignoring only means one thing: cut spending until you don’t have to print money
Posted on 12/4/24 at 6:50 am to John Barron
How are we going to buy Greenland with cash flow like this?
Posted on 12/4/24 at 6:58 am to John Barron
I don’t even have any debt and I get 3-4 calls a week from debt relief companies. Sounds like ‘merica needs to answer when they call. We could pay pennies on the $ to get that pesky debt taken care of.
Posted on 12/4/24 at 6:58 am to Thecoz
You can say yes that debt went up and yes it hurts the argument against him but understanding why is also needed. It was the virus and the bs behind it that caused most of it wits ending of mankind freak out happening. Was he correct in going along? Obviously not but the timing on this was specific towards his not getting re-elected. This time around Trump ain’t playing ball with those bastards
Posted on 12/4/24 at 7:01 am to momentoftruth87
quote:
Stop giving away money, negotiate debt and pay the people. Pretty easy fix in my opinion
If you call a knife fight in a phone booth “easy” you must be one bad mofo.
The parasites aren’t giving up their host without a life-threatening ordeal.
There are TRILLIONS at stake ….
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