You said it with facts. Great job. See my 2 post above.
“You said it with facts. Great job. See my 2 post above.”
But don’t get me wrong. We’re adding a trillion dollars plus to our debt every year - at some point (sooner, rather than later), we MUST crash. Just like any person, city, state, or company doing the same.
My point is that it won’t be gradual decay. In fact a gradual decay is what should have been allowed to happen, starting in 2000. Instead we printed money to delay the day of reckoning (and make it far, far, worse). No, instead, the crash will be sudden, as in minutes and hours. One day we will wake up and find ourselves having a bank holiday, which means you cannot cash checks, you cannot use ATM cards, you cannot use debit or credit cards. It’s anyone’s guess how long the holiday lasts. For a short time, cash will be the only thing of value. For a very short time, those that have cash will be able to buy gasoline, food, and other supplies. Others will be out of luck. Then cash will quickly lose its value once people realize that the root cause of our collapse is that the dollar is worthless. At that point everyone is frozen in with what they have on hand (or maybe what they can barter for, but that’s more fantasy than reality). Eventually, we adjust to our much, much, poorer country, just as happened in Argentina.
Sorry to be so depressing, but this country is nowhere near ready to address our structural deficit. Even half of the old people on this site will not give up a penny of their Social Security. One can only imagine the luck we’ll have trying to get the more liberal 90% of the country to do the same.