ITEOTWAWKI
This boggles my mind, how this all stays together, so far anyway. Personally believe in being debt-free, although there are those in the camp of being totally in debt when it all goes down. My bet on the future currency is; silver, lead, and chickens.
Yes there is. For thousands of years, GOLD has been, and will continue to be, the only REAL currency accepted world-wide.
This is why I moved from Seattle in 2011 to rural Kentucky and 32 acres. I’ve seen the writing on the wall for a while now. A lot of people have. In fact, many experts are flabbergasted that they’ve been able to kick the can down the road for so long. The collapse should have been years ago.
But one thing that can not be overemphasized: As the US goes, so goes the world. I’m reminded of a line in the book of revelation and I paraphrase, “The merchant ships sit off shore and watch the country burn and say, ‘the great country has been wiped out in an hour. Now who’s gonna buy all our stuff?’” Revelation 18: 10-11
These guys nailed it way back in 2013 (it’s also hilarious):
https://www.youtube.com/watch?v=TlN28DoL5qA
BTW, when did trillion become the new billion?
If people didn’t care then Hillary would probably be president.
All of these problems are avoidable. If America were to steadily reduce its debt, the world would likely stick with the U.S. dollar for the foreseeable future; if it ain’t broke, don’t “fix” it, as they say. The only way for this to occur, however, is for politicians in Washington, DC to get their act together and move away from our currently unsustainable policies. That doesn’t appear to be happening on either side of the aisle, and the results could eventually be far-reaching and monumental.
The problem isn’t the politicians. The problem is the voters. We’re riding this thing all the way down to the rocks below.
As I’ve said before. The reason that no one cares is because the bill has not come yet.
I do believe Trump is trying to do something about the national debt. The Tax Cuts are spurring the economy and as Tax Receipts increase, the federal deficit spending should go down.
It’s rather unreasoned to state that nobody seems to care. We talk about it. We observe what Trump is doing.
What really causes me to wonder what is going on, is that during Obama’s time in office, only our side talked about the need to get the deficit under control. Hardly anyone else did.
Now that Trump is in power, all of a sudden it’s something, “...nobody cares about, and nobody is doing anything...”
Well yes, we do care. And yes, someone is doing something.
Doesn’t a faster growing economy help in any way, one that produces more jobs? This gloomy article seems to dismiss that possibility.
Solution: Reduce benefits or raise taxes or some combination thereof.
Either that, or they're really just hoping they check out before the **** hits the fan, which is quite selfish.
So, we can’t tax higher without killing the economy, I agree.
But we can cut spending.
When there is no other choice it will happen, and not until then.
They’ll just print money by the trillions as the debt comes due in the coming decades.
“foreign investors would buy up whatever stable assets they could, most likely real estate”
That’s what they are doing.
However, there is no safety. New cities can be built for far less. Farmland can be taxed and expensive farm labor required. The EU has fined Google 5 billion Euros.
Wealth really can’t be stored up in a world that is 70% leftist.
Even all existing gold might be made nearly worthless by one large asteroid brought to Earth.
Live the best you can today because ten years from now might be very bad.
The Chinese have a low trust factor.
The Europeans tend to have arrogant elites that make stupid decisions.
That leaves mainly the USA and its dollars.
So embracing socialism and more debt isn’t such a good idea?
When we lose the World’s Largest Economy title?
It is estimated that the US has over 200 trillion in assets vs 20+ as the National Debt.
Inflation is generally a function of the changes in the money supply. What has been amazing for the last 10 years is that a huge increase in the money supply produced no inflation.
It should also be considered that about 1/3 of the interest on the debt is payed to the Federal Reserve. Its profits are paid into the national treasury so we are paying that to ourselves.
This has been my greatest complaint of the last three Republican presidents, let alone the Democratic ones.
Budgets. Why can’t we have balanced budgets?
I’m investing in a new Company that Manufactures Cans that are specifically designed to be kicked down the Road.
Off to Shark Tank I go.