When will America go bust?

[sparky]

Would you support that?

i dunno Truly ........didn't Venezuela go down that road ???

~S~

 

[JWBooth]

Well, the US national debt continues to go North. Musk tried to help but government said, "Screw you". I thought Trump was the guy to reduce debt, he's as much use as tits on a fish.

So it's heading towards, "When will the US go bust?"

Time to quit this American dream fallacy and try to grasp reality.

When people, even the world, come to understand.

 

[Captain Caveman]

How about "never"? The U.S. has the largest economy in the world, and much of it was developed by going into debt.

A better question would be "When will the rest of the deadbeat world repay America for everything we've done for them?"

The Uk has. Did America put in repayment terms with others?

 

[g5000]

If it was only Trump since 09' everything would be fixed by now

Trump set about doubling the defict as soon as he took office in 2017.

If he had taken office in 2009, we'd already be in default.

.

 

[g5000]

Theres too many balls on the pool table to know for sure....but if there is such a thing as "too big to fail" in terms of companies, it would stand to reason that in geopolitics, world finances, and entangled alliances, there would be "too big to fail" in terms of nations. We may be that nation that is indispensable to the health and welfare of the world.

On the other hand, I remember a line from a movie..."the graveyards are full of indispensable men".

I've been saying for some time now that there will not be "Too Big Too Fail" banks. They have only grown larger since our government did not allow them to fail and created an even bigger moral hazard.

The banks are now Too Big To Save, and they will take us all down if they **** up again.

.

 

[g5000]

.

I warned in 2016 that Donald Trump would take his followers to the far left, and he has. Morally, politically, and economically.

Seeing how his cult accepted his far left politicies, grifting, and corruption to this point, Trump has decided he can now nationalize our corporations and seize the means of production.

And they haven't even noticed!

Even though I predicted far left limousing liberal New York Democrat Donald Trump would take the country to the far left, I had NO IDEA it would get this bad.

.

 

[g5000]

Well, the US national debt continues to go North. Musk tried to help but government said, "Screw you". I thought Trump was the guy to reduce debt, he's as much use as tits on a fish.

So it's heading towards, "When will the US go bust?"

Time to quit this American dream fallacy and try to grasp reality.

.
I will tell you when America will go bust.

America will go bust when the entities who buy our debt (sovereigns, foreign countries, banks, mutual funds, trusts, etc.) lose confidence they will be paid back. At that point, they will demand higher interest on our debt, and then we're done.

The only reason we have not defaulted already is because we are the world's reserve currency. Something Trump does not understand is that our trade imbalance actually helps to preserve our status as the world's reserve currency.

China recently did a small test of our financial strength and found we are on very, very thin ice.


There are six ways for a country to handle unmanageable debt.

1. Default. See: Argentina. Not an option for the US. We'd lose our status as the world's reserve currency and bond vigilantes would increase interest rates through the roof.

2. Renegotiate the terms of the debt. This is something Trump stupidly bleevs we can do, like he did with his failed casinos.

3. Internal devaluation. See: Spain. Suppress wages to make your production costs competitive with other countries. American wages have been suppressed for decades, helping to forestall a default. But nowhere near enough.

4. External devaluation. This is also a kind of default. Make your money lose its value. This is the dirty little secret politicians prefer. The most common way to achieve this is through inflation, but you can also de-peg your currency from a fixed exchange rate and just declare its new value.

5. Raise taxes/cut spending. Not happening. In fact, Trump just re-upped his tax cuts and increased the debt, DOGE or no DOGE.

6. Economic growth. A growing economy means increased revenues. Simple enough. This is obviously the best option. However, GDP growth in the US has been steadily declining for decades, thanks in large part to our public and private debt overhang. We are in a doom loop.

.

 

[YoursTruly]

i dunno Truly ........didn't Venezuela go down that road ???

~S~

It doesn't matter what road VE went down. Would you support Trump nationalizing our oil industry?

 

[g5000]

It doesn't matter what road VE went down. Would you support Trump nationalizing our oil industry?

Socialist Donald Trump has been nationalizing our chip industry, our steel industry, our rare earth industry, our nuclear power industry.

And his cult has not even noticed.

 

[MisterBeale]

Ive never understood why when our nation needs more oil, we drill more, and ship alot of it away.

There are different grades of oil, and thus, those different grades require different refining.

Our refining capacity is set up to refine a lot of the type of oil which isn't the most plentiful here currently. It used to be, but we have moved to the other type that we extract now.



We import the oil that our refineries use, and export the type of oil that we don't have capacity to refine.

 

[Stryder50]

Well, the US national debt continues to go North. Musk tried to help but government said, "Screw you". I thought Trump was the guy to reduce debt, he's as much use as tits on a fish.

So it's heading towards, "When will the US go bust?"

Time to quit this American dream fallacy and try to grasp reality.

Pot calling kettle black.

You Limeys might check your own national debt/deficits, the UK being more than twice that of the USA;

https://www.usdebtclock.org/world-debt-clock.html

 

[Stryder50]

And Trump failed bigly at handling Covid. He spent way too much on a flu shot. And didn't do a damn thing to Fauci. Except give him a presidential commendation.

Covid is just another excuse the Trump tribe uses to keep from having to hold Trump accountable for anything.


It was ONLY trump from 2017 to 2021. $8 trillion worth of Trump. And how many trillions so far? Including this latest BS CR.

That's all you Trumpbots have, are excuses.

Actually it's you Dem(ocrat)bots, or is that Dimbots, who run on excuses and spending other peoples money while racking up Deficits and Debt.
This site has a "time machine" function and it shows real numbers;

https://www.usdebtclock.org/

On this date in 2016 US Debt was @ $20.1 trillion U.S. National Debt Clock 2016
On this date in 2020 US Debt was @ $27.1 trillion U.S. National Debt Clock 2020
Currently it is at @ $38.2 trillion https://www.usdebtclock.org/index.html

The majority of that, four years prior to recent 10 months, would be Biden and the Dems "watch"(doing).

 

[g5000]

Ive never understood why when our nation needs more oil, we drill more, and ship alot of it away.

.
Because oil is fungible and goes where the money is.

Basic supply and demand fundamentals.

.

 

[sparky]

Socialist Donald Trump has been nationalizing our chip industry, our steel industry, our rare earth industry, our nuclear power industry.

And his cult has not even noticed.

how so G5?

~S~

 

[leftwinger]

Trump set about doubling the defict as soon as he took office in 2017.

If he had taken office in 2009, we'd already be in default.

.

Lying Stain. Deficit only dropped Obama last 2 years because budget was fixed at 2009 or 2010 on CR.

They could get no more money to steal or waste. Tax revenue had gone up with population growth or Normal GDP gains. Not rocket science. Slush money ran lower.

 

[leftwinger]

Debt was ~9.5T in 08' they charged Obiden first stimulus into 08'spending to muddy GWB reality. Oh yes, I remember it well.

Always dishonest DEM & Media playing funny accounting games.

Obiden 1.0 was $11.5T added. Then FLU + Stolen 2020. Now all is messed up.

Bottom line: $29T since the muzzlim opened up the floodgates and broke the GOVT. USAID went to leftist in Media or unions. Fact.

 

[BothWings]

I think with the NWO Globalists, it's "you're either with us or you are against us." Trump hates them, but almost all other politicians will serve them with no problem. Bush Sr., Clinton, Bush Jr., and Obama were slaves to them. Biden's inner circle were all NWO Globalist insiders. The entire democrap party today is owned by the globalists. I don't think they can be beaten because most people are so easily corruptible. Even Bernie Sanders has finally been corrupted by them.

I think you're right and I actually said that in another post about a month ago. The Bushs pretty much publicized the NWO platform for all to see. Interestingly the Zionists seem to have the same posture. If you don't support Israel's politically motivated actions youre "anti-Semitic".

 

[candycorn]

I've been saying for some time now that there will not be "Too Big Too Fail" banks. They have only grown larger since our government did not allow them to fail and created an even bigger moral hazard.

The banks are now Too Big To Save, and they will take us all down if they **** up again.

.

Yep. Obama and Biden both failed in that regard. Nobody expected the blob to do anything about it.

 

[Invisibleflash]

Well, the US national debt continues to go North. Musk tried to help but government said, "Screw you". I thought Trump was the guy to reduce debt, he's as much use as tits on a fish.

So it's heading towards, "When will the US go bust?"

Time to quit this American dream fallacy and try to grasp reality.

 

[YoursTruly]

Debt was ~9.5T in 08' they charged Obiden first stimulus into 08'spending to muddy GWB reality. Oh yes, I remember it well.

Always dishonest DEM & Media playing funny accounting games.

Obiden 1.0 was $11.5T added. Then FLU + Stolen 2020. Now all is messed up.

Bottom line: $29T since the muzzlim opened up the floodgates and broke the GOVT. USAID went to leftist in Media or unions. Fact.

8 years of Obama and 4 of Biden. 12yrs total.
vs 4.8 years of Trump.

Trump still spent more than Biden in those 4 years. And averaged almost double what Obama spent.
Obama spent $8 trillion in 8 years. Trump spent $8 trillion in just 4 years.