Is It Time To DEFAULT On the DEBT And Start Over?

[Tom Horn]

We can rid ourselves and our kids of this debt and not skip a beat.

you mean other than a huge and protracted Depression!!

Ridiculous! No reason the wabbits on Wall Street will panic for more than a couple days, a week tops. Think about the ramifications of having ZERO debt and a clean slate....investment capital will FLY into this country....where else can the world go....China? nigga please....

 

[Toddsterpatriot]

if default was on the horizon the UST would be worthless.

China sold a record $510 billion of FX reserves last year to counter the damaging impact on an already decelerating economy from the surge of capital fleeing the country...not because of pending UST default .

Treasuries already are worthless as an investment....it's a place you park money for safety. As long as we have our Military and hundreds of ICBMs it will be. But the Military is already in sequester and the weakest it's been since the end of WW2. We can rid ourselves and our kids of this debt and not skip a beat other than putting up with a lot of bitching from people who already hate us.

Treasuries already are worthless as an investment....it's a place you park money for safety.

Yeah, lots of worthless investments are ultra safe. Durr.

 

[Tom Horn]

Treasuries already are worthless as an investment....it's a place you park money for safety.

Yeah, lots of worthless investments are ultra safe. Durr.

As profit-making investments yes....you don't know anything about any of this do you?

 

[EdwardBaiamonte]

No reason the wabbits on Wall Street will panic for more than a couple days, a week tops. .

dear, tiny housing crisis has lasted to this day. Great Depression lasted for 16 years. Japan has had 25 years with no growth. You are a child!

 

[Tom Horn]

dear, tiny housing crisis has lasted to this day. Great Depression lasted for 16 years. Japan has had 25 years with no growth. You are a child!

"dear"? When we gave our manufacturing base to China, housing is what our economy was built on before it turned into a ponzi-scheme and crashed. The Great Depression was a stock market crash not a debt crash. Japan has kept their economy in "recession" so as not to have to honor trade deals with us. You're the child here, "dear".

 

[C_Clayton_Jones]

We can rid ourselves and our kids of this debt and not skip a beat.

you mean other than a huge and protracted Depression!!

Ridiculous! No reason the wabbits on Wall Street will panic for more than a couple days, a week tops. Think about the ramifications of having ZERO debt and a clean slate....investment capital will FLY into this country....where else can the world go....China? nigga please....

Conservatism is as ridiculous as it is delusional.

 

[Toddsterpatriot]

Treasuries already are worthless as an investment....it's a place you park money for safety.

Yeah, lots of worthless investments are ultra safe. Durr.

As profit-making investments yes....you don't know anything about any of this do you?

As profit-making investments yes....

You didn't mean worthless, you meant low yields?

you don't know anything about any of this do you?

Based on this thread, more than you. Low bar, I know.

 

[EdwardBaiamonte]

When we gave our manufacturing base to China,.

We didn't give it. Liberals did with their unions, taxes, regulations, and to a lesser extent, their failed families and schools.

 

[EdwardBaiamonte]

, housing is what our economy was built".

actually is was only 17-18% about like health care so sadly for you not what our economy was built on. Do you understand?

 

[Tom Horn]

actually is was only 17-18% about like health care so sadly for you not what our economy was built on. Do you understand?

Horseshit....factor in all the trades and materials involved and it WAS the economy...that's why the banksters went looking for the subprime mortgage packages...they weren't making money anyplace else.

 

[EdwardBaiamonte]

The Great Depression was a stock market crash not a debt crash. .

you mean in it started as a stock market crash and spread through the entire economy until it ended 16 years later. In retrospect we know it was primarily a monetary collapse of 33% and many liberal socialist policies from FDR the prolonged it for 16 years. A debt default depression as you want would likely last as long since the govt could not be trusted to intervene in any way. Do you understand?

 

[EdwardBaiamonte]

Japan has kept their economy in "recession" so as not to have to honor trade deals with us. .

totally stupid!! Japan is in recession because they believe Keynesian policies will work. Show evidence it is from trade deal or admit to being a silly liar

 

[EdwardBaiamonte]

Conservatism is as ridiculous as it is delusional.

yes to a liberal freedom is ridiculous!! This is why liberals spied for Stalin and support Sanders an open communist.

 

[EdwardBaiamonte]

actually is was only 17-18% about like health care so sadly for you not what our economy was built on. Do you understand?

Horseshit....factor in all the trades and materials involved and it WAS the economy...that's why the banksters went looking for the subprime mortgage packages...they weren't making money anyplace else.

Sorry to rock your ignorant world:
Historically, residential investment has averaged roughly 5% of GDP while housing services have averaged between 12% and 13%, for a combined 17% to 18% of GDP. These shares tend to vary over the business cycle.

 

[mudwhistle]

We're currently at $19.3T under water with no end in sight. Some say the tipping point is $22T which should occur sometime in 2018. What would happen if we just said "screw it" and defaulted? For one thing, anybody holding Treasuries would be SOL...that includes our biggest debtor nation, China. China has been divesting itself of USTs in the last year knowing a default is on the horizon. And it is. At $22T we can no longer field an effective Military. At $22T the interest payment on the debt will swallow most of the funds used by various federal agencies, leaving us like Greece. So why wait until the magic number is reached?

What happens if the United States does not pay its public (national) debt of 18 trillion dollars? - Quora

Go for it.

I expected this from Congress long ago.

Just run for Congress on the "Forget The Debt" platform. If you survive maybe you can tell stories about the ponzie scheme you pulled over on America and had to leave the country.

 

[hadit]

It depends what you mean by "default and start over."

If the US delayed an interest payment - which is a default - stocks would fall 20% and we might have a recession. But we might not.

If the US repudiated its debt, stocks would fall 80% or more and the world would be plunged into the worst economic crisis since the Great Depression.

Those are the two extremes.

Neither are good.

We have sufficient revenue that we need not ever default, if we make some very hard decisions about spending.

 

[hadit]

We can rid ourselves and our kids of this debt and not skip a beat.

you mean other than a huge and protracted Depression!!

Ridiculous! No reason the wabbits on Wall Street will panic for more than a couple days, a week tops. Think about the ramifications of having ZERO debt and a clean slate....investment capital will FLY into this country....where else can the world go....China? nigga please....

Conservatism is as ridiculous as it is delusional.

Says the fever swamp.

 

[jillian]

We're currently at $19.3T under water with no end in sight. Some say the tipping point is $22T which should occur sometime in 2018. What would happen if we just said "screw it" and defaulted? For one thing, anybody holding Treasuries would be SOL...that includes our biggest debtor nation, China. China has been divesting itself of USTs in the last year knowing a default is on the horizon. And it is. At $22T we can no longer field an effective Military. At $22T the interest payment on the debt will swallow most of the funds used by various federal agencies, leaving us like Greece. So why wait until the magic number is reached?

What happens if the United States does not pay its public (national) debt of 18 trillion dollars? - Quora

if you send the US into default, you crash our economy, idiot.

 

[jillian]

It depends what you mean by "default and start over."

If the US delayed an interest payment - which is a default - stocks would fall 20% and we might have a recession. But we might not.

If the US repudiated its debt, stocks would fall 80% or more and the world would be plunged into the worst economic crisis since the Great Depression.

Those are the two extremes.

Neither are good.

We have sufficient revenue that we need not ever default, if we make some very hard decisions about spending.

we also need to make hard decisions about not giving corporate welfare and about making sure that corporations pay their taxes.

then all is beautiful

 

[Tom Horn]

if you send the US into default, you crash our economy, idiot.

It's the only way to survive what's coming at us...idiot. Every baby born today is already $59K in debt!


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