First off: I agree with your thoughts.
Apparently you do not have to pay back anything if you are the government.
You just print more money and away you go.
I would have thought the debt would have been so overwhelming we would crash but no....we print more digital money. We are not borrowing it we just make it. Foreign investors such as China and Japan only hold about 1/3 of our debt. The government and the people hold a whole dang bunch. Thats that printing money thing: just iou’s.
I do not believe you can cut enough spending to make a difference. Not saying we shouldn’t try but where do you do it: military? Domestic spending? Every year? The numbers seem miniscule compared to the massive debt we incur.
We want to strive for a merely balanced budget but you do not do that if you are paying 850b per year in interest.
In the end, you just print more money and everyone winks that its wealth.
Everyone does it. The Germans, the Chinese, the Japanese. So long as you piously make payments on the “debt” everyone goes along. When you miss them, SHTF as in Greece and Venezuela. Now Greece is “restructured” and properly penitent and they still go on.
So I do not know what the answers are. We still think that the govt. is run like our homes: you incur debt, you pay off the debt. You live within your means. But they have not done that for a century now. They pay lip service to the idea but they just make more money out of nothing.
When I hold that twenty in my hand, thats real money. But its not: Its just a piece of paper with some rag threads in it. Its only backed by my belief that its real and your belief that is real when I give it to you as payment. As long as we believe that fairy tale, we go on, none the wiser.
I’ve found the popular prediction that we’ll follow the Zimbabwean dollar model to be interesting. We have no choice but to share the declining wealth with some 40 million employees of the various levels of government instead of cutting spending and raising taxes or paying our dues for a bond collapse.
We will continue to be mesmerized and allowing nominations of the equivalents of Hillary, until the last of the opioid-addicted child descendants of tradesmen are clutching the latest smartphone while attempting to dig further into landfills for food and finally starving to death. Looks like the part about nominations is out the window for now.
Meanwhile, in the forming narrative, the fittest of socially adept, technically retarded, uncoordinated former government employees shall come out of their luxury bunkers full of gold and weapons in triumph, proving themselves to be Darwin’s fittest after all.
It’s quite a show indeed, as shown in media, entertainment and politics.
But it’s time now, to go out and finish a repair before cleaning up and giving thanks at dinner. ;-)
...and then maybe later, to check on some of the latest crop of highly pedigreed, philanthropic interns, as they continue to talk about starting a robotic, SHTF dream farm for the more equal folks.
Getting Trump elected was quite the slick but civil effort to begin to do things the right way. Hopefully, rudeness won’t be required to reverse the trend into hard socialism through incremental violations of the law of our land. Folks can take men out of machine shops in a country, but they can’t take the ingenuity out of men and women descended from northwestern Europe after Anatolia after Assyria after...
Yeah, there are puzzles here. Let those who’ve studied much history sort them out.