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Ok so we're 18 trillion dollars in debt most of which is owed to china. So with the situation in Greece whats going to happen when we can't pay back that debt? I know we are a much bigger country and have a higher GDP but we spend and owe so much money that not even the billions of dollars the government collects in tax is enough , so we end up borrowing more and printing more money which is decreasing the value of the dollar if I'm not wrong. So my question is whats going to happen when we cant borrow anymore money, is the economy going to tank?
ps
What i meant about china is that out of all the countries we owe them the most most money I know that most of our debt is owed to ourselves and how come they say that the coming economic collapse is gonna be 10x worse than the great depression
most of which is owed to china.
Unique definition of most.
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Actually China has a larger economy than the US nowadays
No they don't.
Obama has really screwed up this country. We use to be number one. Now we aren't thanks to his stupid idea of taking money from the people that earned it and giving it away to the people that didn't earn it. Of course all his stupid regulations didn't help much either.
China Just Overtook The US As The World's Largest Economy
Read more: China Overtakes US As World s Largest Economy - Business Insider
Since you ignored the the other reference I will post another one. I can post many more if you want. Thanks a lot Obama. Your stupid idea of redistribution of wealth kinda backfired, didn't it?
http://www.newsweek.com/chinas-economy-overtakes-us-worlds-largest-276104
China’s Economy Overtakes the U.S. as World’s Largest
I ignored your reference.......by posting the chart from your reference.
Thanks, that gave me a laugh.
You can either ignore or deny anything you want.
An unreferenced chart doesn't mean jackshit, by the way.
China surpasses U.S. as world s largest economy - Videos - CBS News
China surpasses U.S. as world’s largest economy
Ok so we're 18 trillion dollars in debt most of which is owed to china. So with the situation in Greece whats going to happen when we can't pay back that debt? I know we are a much bigger country and have a higher GDP but we spend and owe so much money that not even the billions of dollars the government collects in tax is enough , so we end up borrowing more and printing more money which is decreasing the value of the dollar if I'm not wrong. So my question is whats going to happen when we cant borrow anymore money, is the economy going to tank?
ps
What i meant about china is that out of all the countries we owe them the most most money I know that most of our debt is owed to ourselves and how come they say that the coming economic collapse is gonna be 10x worse than the great depression
most of which is owed to china.
Unique definition of most.
If you discount the money we "owe to ourselves" yeah, then he's right. Money we owe to ourselves causes inflation. I'm sure you've seen a graph of the purchasing value of the dollar from 1789 to 1913, then 1913 to 2015.
I'm sure you know what happened in 1913.
Inflation is the best way to hide the cost of the Welfare State and Overseas Wars.
