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Is it naive to be concerned about the national debt?
Posted on 4/3/20 at 5:53 pm
Posted on 4/3/20 at 5:53 pm
No one in power seems to be, outside of a small handful of senators and representatives. And even their concern appears minor at best.
No president, treasury secretary, Fed chairman, or other similarly situated person seems to think it’s a big deal at all.
I used to think it was a big deal. I kind of still do. But it seems a bit “get off my yard” - ish.
Muh debt. Muh deficit.
Tell me why this matters?
No president, treasury secretary, Fed chairman, or other similarly situated person seems to think it’s a big deal at all.
I used to think it was a big deal. I kind of still do. But it seems a bit “get off my yard” - ish.
Muh debt. Muh deficit.
Tell me why this matters?
20
Posted on 4/3/20 at 5:55 pm to Bjorn Cyborg
This is awesome. We can print money to fix all our problems. Why didn’t we figure this out earlier?
Posted on 4/3/20 at 5:56 pm to Bjorn Cyborg
Nothing has been done about it for so long and we passed the rubicon quite a while back
Might as well just drive her off the cliff to get it over with
Might as well just drive her off the cliff to get it over with
Posted on 4/3/20 at 5:56 pm to Redleg Guy
I agree with you. It’s ridiculous. But no one cares.
Posted on 4/3/20 at 5:57 pm to Bjorn Cyborg
Haha. Money printer go brrrrrr
Posted on 4/3/20 at 5:58 pm to Bjorn Cyborg
quote:
Is it naive to be concerned about the national debt?
Nope. Like Dan Bongino says regularly,” All debts will be paid one way or another.”
This post was edited on 4/3/20 at 5:58 pm
Posted on 4/3/20 at 6:10 pm to Bjorn Cyborg
It’s too late. Default and inflation are inevitable. The only question is who that default is against.
Posted on 4/3/20 at 6:10 pm to Bjorn Cyborg
The only people in Congress who give a rat's arse about the debt are regularly trashed on this site by people who claim to be conservatives.
Posted on 4/3/20 at 6:12 pm to Boatshoes
China comes to mind. Phuckk off China.
Posted on 4/3/20 at 6:31 pm to Bjorn Cyborg
Naive? No. Out of touch apparently? Yes.
I don’t get it. Trillions of dollars being thrown around like we have a big old money tree.
I don’t get it. Trillions of dollars being thrown around like we have a big old money tree.
Posted on 4/3/20 at 6:33 pm to Bjorn Cyborg
No. And multiple trillion dollars stimulus packages just might push this country over the edge. Especially, coinciding with a lengthy economic collapse/ depression
Posted on 4/3/20 at 6:34 pm to Bjorn Cyborg
The US is too big to fail. Massive debts are irrelevant now.
Posted on 4/3/20 at 6:35 pm to Bjorn Cyborg
Seems like a debt only matters when it comes time to collect
Posted on 4/3/20 at 6:36 pm to Bjorn Cyborg
quote:
Also, my very limited macro finance brain has always comforted myself regarding the US debt situation with the principle of “if you owe the bank $1 million, they own you, but if you owe the bank $1 billion then you own them.” Coupled with the most dominant military force ever, am I an idiot in thinking we should not look at national debt like consumer debt where the bigger the number the worse it it but rather in relative terms to the rest of the world and their capacity to call said debt in without triggering economic mutually assured destruction due to the intertwining of the world economy ?
Your personal, household debt matters because creditors can call it in within a defined system with absolute, concrete consequences for you and minimal damage to them.
National debt is not like that and too many people look at national debt like household debt.
Who calls in the US debt and by what mechanism? Especially with the US military as a backstop and mutually assured economic destruction should the US economy crater?
It really is good being the hegemon of the world
This post was edited on 4/3/20 at 6:45 pm
Posted on 4/3/20 at 6:36 pm to Bjorn Cyborg
quote:
No one in power seems to be, outside of a small handful of senators and representatives. And even their concern appears minor at best.
No president, treasury secretary, Fed chairman, or other similarly situated person seems to think it’s a big deal at all.
Of course not, they don't have to pay for it.
Posted on 4/3/20 at 6:36 pm to Bjorn Cyborg
I’m not sure how many other countries are in the green, particularly after this pandemic.
Posted on 4/3/20 at 6:36 pm to Toddy
quote:which would essentially make "essential workers"; ie, anyone with a guaranteed government job, a quasi privileged class
Especially, coinciding with a lengthy economic collapse/ depression
Posted on 4/3/20 at 6:36 pm to Bjorn Cyborg
The National debt is a weird thing.
We owe around 70% of it to ourselves.
We owe to ourselves and we will have to pay it to ourselves.
Of course 80%+. of Americans shouldn't worry since they barely pay any income tax anyway.
Upper 15% pays 85% of all taxes.
We owe around 70% of it to ourselves.
We owe to ourselves and we will have to pay it to ourselves.
Of course 80%+. of Americans shouldn't worry since they barely pay any income tax anyway.
Upper 15% pays 85% of all taxes.
Posted on 4/3/20 at 6:38 pm to Bjorn Cyborg
Seems like we are essentially borrowing against inflation of the US Dollar. The amount of money involved in various stimulus packages right now is absolutely staggering.
Posted on 4/3/20 at 6:38 pm to Bjorn Cyborg
Name one major country that isn't built on a financial house of cards.
Name one major country in the throes of this health crisis that isn't printing a GDP-sized bandaid to paper over the social measures they're taking as a preventative action.
Name one country that can challenge the US military response to an aggrieved creditor.
Name one major country in the throes of this health crisis that isn't printing a GDP-sized bandaid to paper over the social measures they're taking as a preventative action.
Name one country that can challenge the US military response to an aggrieved creditor.
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