Let's be objective about "shit-hole" countries, shall we? No nation on this planet has more phucking debt than the USA; it makes the USA ... the most disgraceful, shit-hole country on the planet throughout mankind's known history.
Let's be objective about "shit-hole" countries, shall we? No nation on this planet has more phucking debt than the USA; it makes the USA ... the most disgraceful, shit-hole country on the planet throughout mankind's known history.
This merely demonstrates how dumb you are.
We have made ourselves the indispensable country that is Too Big To Fail. At least, during the present balance of power within the international community and competing economies. We maintain trade routes and safe sea lanes. We make world commerce possible. We are its biggest markets. We have keystone economic and diplomatic relations with every major country. And we have few rivals of any significance. We are the world's only real military superpower. We are the biggest energy producers in the world. The list is quite long.
In short, we are the Indispensable Country on planet Earth. I never like the claims of American exceptionalism as such talk always smacks a bit of the old manifest destiny doctrine.
We are pretty determined and pretty well-positioned to maintain our position as the Indispensable Country. And we're better at it than the British Empire ever was. They made a lot of mistakes.
We are, as we have always been, eager to diminish debt through inflation, primarily to benefit businesses large and small but also generally to the benefit of homeowners and those with considerable consumer debt.
So, don't worry quite so much about American debt.
America's run as the dominant world empire will continue for decades, perhaps even a century more. In the end, it is more likely that we will simply tire of empire rather than any other country taking the central role from us. I could imagine America retreating somewhat from the world around 2040-2050 and China becoming a dominant world empire to take up the slack. I don't really see Russia having the capacity to overcome its internal problems, let alone become a true global power again.
Anyway, I enjoyed PJW's little rant. He was having some fun dishing it out, especially on the Xlinton's robbery of Haiti. They really do hate the Xlintons down there.
Don't toot your all-mighty dollar to me, that makes America GREAT. It is collapsing world-wide.
In your dreams.
Always remember: we don't have to be all that good. We just have to be better than any likely coalition of our rivals. By that measure, America is very strong.
But you have to ask yourself, "why?" Why do otherwise rational people invest thousands upon thousands of dollars in crypto-currencies? I think the answer is staring us in the face: the US dollar is about to tank, particularly because the US federal debt continues to rise unsustainably while China rises with economic wealth already transferred into their coffers.
All around the world, there just isn't much faith in the good ol' USA anymore.
US federal debt continues to rise unsustainably while China rises with economic wealth already transferred into their coffers.
China has huge amounts of US treasuries and currency in its coffers. They send us stuff. We send them dollars that we print. If the dollar goes up, we have the stuff, they have worthless paper, and they have nowhere to sell their stuff. We go, they go. The reverse is not true.
US federal debt continues to rise unsustainably -------
China has huge amounts of US treasuries and currency in its coffers. They send us stuff. We send them dollars that we print. If the dollar goes up, we have the stuff, they have worthless paper, ----
;The question remains, -- how long can the US federal debt continue to rise unsustainably?
How long can we continue to print paper money without the rise of hyperinflation?
;The question remains, -- how long can the US federal debt continue to rise unsustainably?
How long can we continue to print paper money without the rise of hyperinflation?
The question that has to be answered to answer those questions is: "What is sustainable?"
The current deficit is probably sustainable on a permanent basis.
We start to get into dishonest rhetoric when we speak about these things, akin to the liars who claim that "50% of the people pay no taxes", pretending that the only taxes are the federal income tax. That is so far from the truth as to damage the integrity of the person asserting it.
There are not all that many people who really want to have an objective conversation about economics. Those who do, recognize that running a deficit, even forever, is not a dire thing if that deficit is within certain parameters.
