Posted on 02/12/2024 5:29:56 AM PST by george76
U.S. economy is resting atop a public debt exceeding $34 trillion, with its debt-to-GDP ratio sitting at around 120%. Perhaps not the blessing the Founding Fathers had once envisioned.
Now, alarm bells are beginning to ring with increasing frequency and volume.
Jamie Dimon says Washington is facing a global market "rebellion" because of the tab it is racking up, while Bank of America CEO Brian Moynihan believes it's time to stop admiring the problem and instead do something about it..
The Black Swan author Nassim Taleb says the economy is in a "death spiral", while Fed chairman Jerome Powell says it's past time to have an "adult conversation" about fiscal responsibility.
...
Last year Pew Research found that 'reducing government debt' was a key concern for 57% of the 5,152 people surveyed—up from 45% just a year prior.
...
More than a decade ago when national debt sat at a measly $19 trillion, America's former joint chiefs of staff chairman Admiral Michael Mullen said debt was the top threat to national security.
Fourteen years on, former Speaker Ryan told the Bipartisan Policy Centre in January that before long the government will be spending more on servicing its debt than it is on investing in the Pentagon.
Dimon added: “This is about the security of the world. We need a stronger military, we need a stronger America. We need it now. So I put this as a risky thing for all of us.”
...
The moment the government in any country realizes that it cannot sell $1.7 trillion in [annual] debt anymore, you will have to impose major cuts on some programs. That opens a Pandora's box of social unrest that I don't think anybody wants to think about."
(Excerpt) Read more at finance.yahoo.com ...
Dimon is a POS. He and his buddies purposely pushed the country/world into this.
The arsonist calls the fire department…
Forget the lawyers, send guns, money & ammo.
“while Fed chairman Jerome Powell says it’s past time to have an “adult conversation” about fiscal responsibility”
Not with this bunch in charge.
L
Meanwhile Yahoo wants to spend more money to make World War III happen
Jubilee.
We cannot pay $34T in debt.
We cannot default on the debt.
Only one of those statements is really true.
It’s my habit to ask myself, “why do they want me to believe this, now?”
Not that it’s a falsehood, necessarily, but that the media never does anything without a self-serving motive.
$95 billion passed during the Super Bowl.
To be a King required a Prince to be schooled.
The Debt 101 course included major lessons in how to deal with unmanageable national debt. The two tried and two solutions are devaluation and war. American currency was devalued to zero long ago as gold and silver was cast aside. The best way to devalue now is via inflation.
There was another course Revolution 300 that taught the dangers to Rulers should inflation and war not be properly conducted.
We could monetize the debt. Jamie and his friends could make another $3.4 T or so in fees for processing the transactions. Maybe more in buying up worthless paper and then selling it to themselves at a “reasonable” fraction of face value with the $34 T in printed money to monetize the debt.
How about American just worry about the security of Americans for a change.
All part of the UN agenda 2030.
The last 5 years proved that betting that "experts" are usually wrong is a fairly safe bet.
All about bringing on “The Great Reset”, all debts forgiven.
Figures - they know how to do it
Somehow the Globalists are going to get their New World Order - and their Antichrist with it - it will be a short but terrible reign
Daniel 7:23
King James Version
23 Thus he said, The fourth beast shall be the fourth kingdom upon eyarth, which shall be diverse from all kingdoms, and shall devour the whole earth, and shall tread it down, and break it in pieces.
https://www.biblegateway.com/passage/?search=Daniel%207%3A23&version=KJV
(”Experts say”...)
Yahoo did this exact thing with taking Social Security money early
34 trillion dollars is the national debt. To put that in perspective, 34 trillion seconds is 10,600 CENTURIES. There are only three ways to discharge this debt.
1) repudiate the debt destroying the US credit rating and kicking off a world wide depression.
2) stop borrowing snd maintain the current tax revenues (somehow) and direct half that revenue to,paying off the debt at the expense of other federal programs. In 100-125 years we will be debt free.
3) inflate the currency wildly so that $34trillion is next to nothing. Right now about $2000 buys an ounce of gold. In flats the currency do it takes $200,000,000 to buy an ounce of gold snd then discharging $34trillion is simply a print order at the mint. This would destroy most Americans economically leaving us much like Venezuela.
Guess which one the government will do.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.