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Message
1
Posted on 6/4/25 at 6:20 am to Bengalbio
quote:
The ruling political class will never make the right moves to cut spending because it would be political suicide.
So the “political ruling class” can survive inflation, massive price increases in housing, higher interest rates, etc???? Because that is what happens when you increase the money supply beyond the economic growth of the county.
Posted on 6/4/25 at 6:37 am to Ten Bears
quote:
So the “political ruling class” can survive inflation, massive price increases in housing, higher interest rates, etc????
Haven’t they always?
Posted on 6/4/25 at 7:25 am to Tarps99
quote:
The debt is so large at this point. The only way to balance it and make a meaningful impact would be to pare down the government to bare bones including military spending. The cuts would be so drastic that it would put the economy in the crapper. One way out would be to repatriate overseas manufacturing and domestic mineral extraction. If we could expand America’s manufacturing base and cement America’s place in mineral mining and energy production, we can grow GDP and make the debt smalller as a percentage of GDP and increase tax revenues with a stronger economy with more workers in the workforce. That is a lot of Orange Koolaid to swallow, but that seems to be the plan.
I agree.
Develops AI to the max and increase new forms of energy. It’s a gamble.
Posted on 6/4/25 at 7:48 am to lotik
quote:
If we don't have any idea what the debt should be, why are people freaking out over it? At what number would they stop?
The bond market is the entity where the U.S. government goes into debt. They literally sell debt instruments, bill, notes and bonds, on the bond market to refinance existing debt and finance new debt that cannot be paid with with tax existing revenue.
Again, if debt is so bad the U.S. Treasury could simply stop selling it and going into more debt.
I've already had long threads on this but there is a constitutional way out of U.S. debt without refinancing old debt or financing new debt when there is insufficient tax revenue.
There are two forms of legal tender in the U.S.:
1. U.S. Treasury Notes, and
2. Federal Reserve Notes.
The U.S. Treasury, through the Bureau of Engraving and Printing, has not printed U.S. Treasury Notes as a form of paper currency (distinct from Federal Reserve Notes) since 1969, but both remain legal tender for all goods and services today.
The fundamental difference between the two is one comes with debt and the other does not. One attaches American productivity through the 16th Amendment (income taxes) to government debt and the other does not.
Both have the same massive moral hazard, print too much to solve immediate concerns (leverage the Cantillon effect) to only discover the insidious hidden tax of inflation.
Not to ramble on too much but the OP is essentially right, debt under the current fiscal and monetary system coupled with American productivity through the 16th amendment is a feature of the current system, not a flaw.
They way to escape is own assets like land, businesses, commodities, etc. up to your personal risk tolerances and own less Federal Reserve Notes. Just use Federal Reserve Notes as a medium to exchange assets. Don't hold on to them for an extended period of time.
Posted on 6/4/25 at 7:50 am to GumboPot
That's a really long way of saying we don't really know what the debt should be. We may think it is too high, but where do we need to bring it down to?
Posted on 6/4/25 at 7:57 am to lotik
quote:
That's a really long way of saying we don't really know what the debt should be.
quote:
We may think it is too high, but where do we need to bring it down to?
There is no set number. It's just a number that can be managed and managed to the point that inflation is kept low enough that the people don't notice and are not compelled to march up to DC and breakout the guillotines.
Posted on 6/4/25 at 7:58 am to The Egg
quote:that's diffe(R)ent
So why were we worried about it under Biden
Posted on 6/4/25 at 8:00 am to Bengalbio
quote:so continue to do what got us in this mess in the first place? Just stop worrying and start spending?
Stop worrying about the debt
the frick you talkin about man?
Posted on 6/4/25 at 8:02 am to Bengalbio
Ruling class wants the system to crash so they can install digital currency and tie everything you do to it.
Posted on 6/4/25 at 8:32 am to Night Vision
Maybe so.....I sure seem to care less now that I own bitcoin.
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