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Maybe the debt will be paid off by illegal immigrants, technology, a zero percent tax rate, or magic fairy dust, but the reality is that the US debt is increasing constantly, no one cares, and spending more money to reduce the debt will only lead to disaster.
Debt didn’t work out too well for Rome, Germany, Japan, Greece, or Zimbabwe.
Those who fail to learn from history are doomed to repeat it.
http://www.campidiot.com/ci/viewforum.php?id=28
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Cut off one arm of a starfish, and each arm cut off regenerates into a new starfish hungry for shellfish.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.
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(06-09-2019, 08:14 PM)twnz Wrote: Maybe the elites are planning to print so much money that they just inflate the debt away.
What will you do when your $1 million retirement savings only buys a loaf of bread?
https://www.businessinsider.com/worst-hy...ory-2013-9
For most of human history, the economic elites have preferred to get most people heavily in debt, start deflation, and make debt more of a burden to helpless people who had to borrow to stay alive. The debtors usually find themselves constricted severely in means of meeting their obligations, and those means get increasingly difficult. In the end the personal debt becomes impossible to meet and the debtor is effectively enslaved.
Hyperinflation is hard to identify by a position on the political spectrum. It can be done by left-wing dictators like Robert Mugabe or by right-wing dictators. The idea is to steal savings, and when the savings are gone so is the capital.
America's economic elites have typically liked 'solid money' to thwart competition and to make debt sting.
The ideal subject of totalitarian rule is not the convinced Nazi or the dedicated Communist but instead the people for whom the distinction between fact and fiction, true and false, no longer exists -- Hannah Arendt.
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I expect to see trade wars, foreign policy disasters, a few race riots, a decrease in personal liberty, higher taxes, higher inflation and probably, economic collapse. The silver lining is, secession will probably become more feasible.
http://bunkerchan.xyz/dprk/
