CDZ Is the U.S. like Germany in 1928?

Discussion in 'Clean Debate Zone' started by jwoodie, Aug 12, 2019.

  1. gipper
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    gipper Libertarian/Anarchist

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    Okay.

    IMO our federal government and big corporations are one. They work together to advance their common interests, which is enriching themselves. Government protects big business and big business makes the payoffs to government. It’s a protection racket the Mafia can only dream of.

    Is this not a soft form of fascism?
     
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  2. Correll
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    Correll Diamond Member

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    I said what I said. THe only reason for you to "restate" what I said, before you respond, is because you ar are to much of a pussy to address what I actually said.


    As to your strawman, it has nothing to do with me. SO fuck off.
     
  3. jwoodie
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    jwoodie Gold Member Supporting Member

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    Devaluing the debt effectively raises the interest rates paid to replace it. We have been avoiding the consequences of our massive debt because of historically low interest rates. A rise to 5% on our $20 trillion debt would cost us $1 trillion a year in interest payments alone.
     
  4. xyz
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    xyz Gold Member

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    Yeah, pretty much, private jails come to mind but there are many things.

    However, that's just corrupt capitalism. In fascism, the government controls the corporations, not the other way around.

    Examples of where the state can shut down businesses whenever it wants and make them do what it wants would be Nazi Germany, modern China and to some extent modern Russia.

    In a real communist country, all the businesses are nationalized.
     
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  5. Staidhup
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    Staidhup Gold Member Supporting Member

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    If China were to unload their US debt securities their currency would tank, interest rates would rise, discounts from par would be overwhelming. The stock market would experience a massive flight from equities to fixed income. In short China would be the loser.
     
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  6. jwoodie
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    jwoodie Gold Member Supporting Member

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    What if China simply stopped buying
    new U.S. debt instruments?
     
  7. xyz
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    xyz Gold Member

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    I'm not sure how much the US could be like Germany in 1928. The US hasn't lost a world war and territory. Foreign interference in the elections is not really comparable..
     
  8. jwoodie
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    jwoodie Gold Member Supporting Member

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    The question is whether the U.S. could be facing a situation, like Germany was facing in 1928, wherein massive foreign debt could suddenly dry up overnight. Could we handle the fallout without serious damage to our political institutions?
     
  9. M14 Shooter
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    M14 Shooter The Light of Truth

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    Yes.
    >2/3 of federal spending is by choice, not necessity; the choice can be made to not spend it.
     
  10. jwoodie
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    jwoodie Gold Member Supporting Member

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    And this could be done without serious repercussions?
     

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