How and when is this going to end? Somehow the economy grows enough to support the debt? Or at some point creditors get the shaft, either to their face (only get some % of their principal), or behind they back by the government just printing $$$ left and right to pay back the debt with a currency that is now greatly inflated? Its go to somewhere. Your thoughts?
then there would be the day when Uncle Sam won't send out the SS checks anymore or gradually phased out. SS program still exists but in name only (like it occurred in some country) probably, politicians want it or not eventually payroll taxes would be raised to keep the program going.
It does not end well.... During the 2009 Russian appraoched China about flooding the market with US Treasuries, which would have had devistating results. China did not support this decision so the bills where never flooded the market . Either the above scenario happens in a future economic downturn or the US eventually says "fuck you" to it's creditos and all hell breaks loose . I have 0 faith in the US Congress to reign in spending to reduce the deficit or believe there is a tax policy that could pay down the debt.
The USDs are created from debt. Therefore there is no end game per se. This structure is supported by the productivity and the political structure and military might. This will not change in the foreseeable future.That's why all the gold/silver/btc pushers knowingly scare the public to think that USD will collapse, and the general public gets fooled and buy into this needless worry. So what if other countries don't buy our treasuries... our missiles and carriers will shove it down their throat.... it's called 'protection fee'. Why are people so blind. We are not Venezuela or Argentina.
Yup. Indeed. If the banking system were to dissolve and the central bank were to disappear, there would be no credit. Put that into real life... Want to buy a car, hand over your cash. Need a place to live, hand over your cash. New flatscreen, new vacuum cleaner, a night out, hand over your cash. Oh yea... those local/state/federal taxes require cash too. Do you think increased property taxes could cause the next round of walk-away? A simple limit in the 2018 tax bill has a few thinking. Without credit, crypto is the answer. Duh.
They'll burn the dollar, that's the only way out. It's time to relearn all the old lessons again, as happens every few generations.
Government debt is a never ending cycle although we all didn't believe Russia would default so maybe the US will also then go back and take on more debt sadly our country runs on credit
see the USD-collapse worriers never see the difference.. Russia defaulted because they don't have the aircraft carriers and no longer have enough missiles to shove their currency down other countries' throat. Of course the gold/silver/btc pushers know this, but the general public with the 100 IQ or lower cannot see the difference. Theories aside, people also don't see real facts. in 2008 the US created the whole crisis, but who end up eating most of the losses? The Chinese, the europeans etc... China is now in a debt crisis of its own, contained only by its non-free-flowing currency and hard working population. Europe still has not fully recovered. That is called shoveling something down others' throat. In the past 100 years or so, look at the Gold performance in crisis' - 1929 flat, 1987 down, 2000 down, 2008 down.... whenever there is a flight to safety, where do the entire world run? the US Dollar - that is the true gold. And again, if gold cannot save you from a crisis - and people are now putting their hope on some digital puff of thin air, created by a nameless faceless Satoshi, a puff of air that can only be obtained by Proof of (MEANINGLESS) Work, which is no different from digging a hole in the ground and filling it up. People are so blind it's unreal.
the us has more aircraft carriers then the rest of the world together but do you think being a bully or playing world police will be best in the end