When This Is Over

[Smyrna]

When this is over, I don’t believe anybody knows what shape this country will be in. Logically, I’d love to raise taxes and pay off this debt. IYO…will the country be ready for that? If not, when will it? How damaged is our economy and the country?

On another note, I can see that your intentions are righteous so let me know when you’ve sent a check for any stimulus you received and I’ll do the same?

[Toll_Collector]

@Smyrna

On another note, I can see that your intentions are righteous so let me know when you’ve sent a check for any stimulus you received and I’ll do the same?

From my experience those that suggest raising taxes rarely include themselves as participants.

[Smyrna]

@Toll_Collector

From my experience those that suggest raising taxes rarely include themselves as participants.

You noticed that too, eh?

[Paul_Thomson]

Dedicated the cost of CV clean up from any debt owed to China. Exit and stop funding the UN that runs interference for China.

[ImRightYoureWrong]

I don’t think that would be good for the dollar, if the US government decides to intentionally default on our debt obligations

[Paul_Thomson]

@ImRightYoureWrong

I don’t think that would be good for the dollar, if the US government decides to intentionally default on our debt obligations

What about China defaulting on it’s debt to the world of nations?

[ImRightYoureWrong]

What about it? I’m talking about US policy. If we decide to default on our debt for political purposes that would not be good for the dollar or our finances going forward. I’m not saying China should be without punishment, even monetarily, but we shouldn’t ■■■■ with our debt repayments

[highroller]

I don’t think the US government will intentionally default on their debt obligations, but we are never going to pay off this debt. It’s just too much. But we could keep going another 10 or 20 years. It just depends on the the debt buyers.

[Jezcoe]

@Safiel

@ImRightYoureWrong

@Safiel

If the system collapses in the United States, it will take the entire world with it, including China, the world’s economies are incredibly interlinked and interdependent. The monetary and banking systems of other countries will not survive the collapse of the Federal Reserve.

Wouldn’t that structural foundation just further cement the value of the dollar? Why would the whole world do that to itself?

The thing is the “dollar” has NO fundamental value. Neither does any other fiat currency. They have apparent value in relation to each other, but in the end, all are backed by debt. There is no such thing as too big to fail. If the economy can’t support all the debt that is issued to back those dollars, then eventually they will catastrophically degrade in subjective value. It happened in Germany and it happened recently in Venezuela. Because of Venezuela’s relative lack of significance in the world economy, it didn’t greatly impact the United States.

As for the whole world doing it to themselves.

It is more each individual nation doing it to themselves. Not deliberately.

Rather, simply by not realizing that while inflation does allow for a constant supply of credit, there IS a hard limit to how much debt a nation can saturate itself with.

The Federal Reserve has worked in the United States from 1913 to 2020 because, even with excessive spending and debt accumulation, the combined debt of the government and the private sector was within the ability of the productive capacity of the United States to support. However, we are reaching a point where we are taking on more debt than we can handle. At some point, you have to keep a leash on the debt.

Inflation is an incredible credit tap for the government to draw on. But it simply is possible to go too far.

Hopefully the United States can step back from the precipice.

Wiemar Germany and Venezuela has absolutely zero relation to the US situation.

Until England insists on us paying war reparations in all gold or we use the government (not private industry) to import basically everything, then we can talk.

Until then the comparisons are silly.

[Paul_Thomson]

If you owe me $100, 000 and you get drunk and smash my $10,000 car with a sledgehammer, are you saying I am not entitled to claim that $10,000 from you, and if you refuse to pay up, I am not entitled to writer off 10,000 of my debt to you?

[Jezcoe]

Wait… people are seriously saying that the US should default on it’s debt?

Holy ■■■■ that is stupid.

[ImRightYoureWrong]

@Paul_Thomson

If you owe me $100, 000 and you get drunk and smash my $10,000 car with a sledgehammer, are you saying I am not entitled to claim that $10,000 from you, and if you refuse to pay up, I am not entitled to writer off 10,000 of my debt to you?

We aren’t talking about getting drunk and smashing cars. This is international. If the Federal Government declares a debt void, it will hurt the dollar and begin eroding the historical “safety” of a US treasury. I’m not even sure it would be legal.

[ImRightYoureWrong]

@Jezcoe

Wait… people are seriously saying that the US should default on it’s debt?

Holy ■■■■ that is stupid.

Somehow that’s a good punishment for China. For us to default

[highroller]

I think a lot of them really want to live in Somalia.

[Paul_Thomson]

I guess some Dems are so used to leftists breaking laws and not suffering consequences that it now seems stupid to them to impose consequences on leftists for breaking laws. Consciences deleted with a hot iron.

[ImRightYoureWrong]

@Paul_Thomson

I guess some Dems are so used to leftists breaking laws and not suffering consequences that it now seems stupid to them to impose consequences on leftists for breaking laws. Consciences deleted with a hot iron.

What law that the US has authority over did China break?

[Jezcoe]

@Paul_Thomson

I guess some Dems are so used to leftists breaking laws and not suffering consequences that it now seems stupid to them to impose consequences on leftists for breaking laws. Consciences deleted with a hot iron.

Have you ever asked yourself why people, companies, and countries are willing to loan the US Government money for near zero interest for ten years at a time?

[Paul_Thomson]

@ImRightYoureWrong

@Jezcoe

Wait… people are seriously saying that the US should default on it’s debt?

Holy ■■■■ that is stupid.

Somehow that’s a good punishment for China. For us to default

Every nation adversely affected by China’s cover-up and lies should exact recompense. What would happen to the US currency if every affected nation did that. Africans might get their resources back from Chinese control.

[Paul_Thomson]

@Jezcoe

Have you ever asked yourself why people, companies, and countries are willing to loan the US Government money for near zero interest for ten years at a time?

No. I haven’t

[Jezcoe]

@Paul_Thomson

@Jezcoe

Have you ever asked yourself why people, companies, and countries are willing to loan the US Government money for near zero interest for ten years at a time?

No. I haven’t

You should.

It will answer why it would be idiotic for the US to default.