The US's national debt spiked $1 trillion in less than 6 months

Rea reply to: Kandinsky

I think the petro dollar might be the main issue near or long term, but it’s the system in general too. I don’t think globalism is about bringing 3rd world countries out of poverty despite that claim, in practice it seems to be more about taking advantage of cheap labour wherever it can be found in the world. Doing away with regulations and all that...It’s probably great if you’re super rich though.

For example I keep hearing about how protectionism is such a bad thing, but Otto Von Bismarck's Prussia flourished under that policy, so how can that be?

originally posted by: pavil
a reply to: Southern Guardian

Are you turning fiscally conservative? Great!

We do need to figure out our National priorities in regards to what we can afford. We can't do everything want to do with the money we have.

We can either bicker with each other from both sides Of the aisle and get nothing accomplished or we can have an actual discussion of what priorities should be in regards to our budget.

The deficit was projected to grow in the years following the Obama Administration. Trump's tax cuts definitely don't help the deficits as less money will be collected. So we have to determine what's most important as a Nation.

What's your number one budget priority Southern Guardian? Where's your place we will cut the budget?

It's time both parties take a centerist approach to the budget. I would have wished for more Democrats involvement with the new Tax Plan but that didn't work out on either side.

As I read this thread, it became very clear that everyone was taking a left or right position. Pavil said it perfectly. It happens on both sides of the aisle. What matters is that we figure out a away to get out of this mess. There is no discipline in government, no accountability and they're all overpaid. That goes for both parties. Everything in congress is done based on an agenda for the sole purpose of towing the party line and getting reelected. Shame on them all.

So how is this going to get fixed? If we had leadership that could show concern and commitment equally across party lines, then we could accept a leader asking all Americans to do their part in getting out of debt. If the feds could prove they won't spend our money like it's endless, I would take part of my 401K to pay my portion of the debt. If everyone, including politicians did that, our kids would get a fare shake.

originally posted by: LogicalGraphitti
So how is this going to get fixed? If we had leadership that could show concern and commitment equally across party lines, then we could accept a leader asking all Americans to do their part in getting out of debt. If the feds could prove they won't spend our money like it's endless, I would take part of my 401K to pay my portion of the debt. If everyone, including politicians did that, our kids would get a fare shake.

Maybe we could elect one powerful person to be in charge and get rid of all the pseudo-partisan shenanigans while organizing committees that keep a stern but fair oversight on all the various components of government to ensure that taxes are used for the benefit of citizens and not squandered on foolishness or lining the pockets of the cronies of whatever administration is in power.

Japan keeps most of their debt in house on their own books.

www.nationaldebtclocks.org...

The debt that should concern us is debt issues such as bonds that are held by investors.
If the US defaults on bond issues that other countries such as China bought we lose our world credit rating.
A lot of other countries are in the same high debt situation so indicators like currency value can remain fairly stable even in high debt situations.
No one on ATS has the inside knowledge for the method or timing of a solution to the global debt problem.

why do you suddenly care now?

a reply to: Cauliflower


At some stage the debt has to be paid, their is only one way to do it. That is to print it away.

originally posted by: anonentity
a reply to: Cauliflower


At some stage the debt has to be paid, their is only one way to do it. That is to print it away.

I wish we could just print it for ever and nothing bad happened to the economy. I suspect I will not get my wish.

I think we are all sitting on a house of cards in every country that doesn't have natural resources in quantities to provide for themselves. Places with limited resources and or large populations will have to do something to sustain themselves That usually involves war.

a reply to: anonentity

If a government just prints money and stores it in a closed room it doesn't effect anything.
A country like Japan that has a lot of government debt accumulating in another room that was purchased by the money printers instead of marketed to investors might be able to zero the books that way.
The amount of circulating currency hasn't changed much in that scenario.

Problem in that case is the "balance of trade" with other countries is going to become lopsided.
If Japan were to finance an expensive infrastructure upgrade buying steel and oil from foreign countries printing play money to pay for it that would end up rather badly for them.

The relative strength of currencies is probably a better indicator of economic health (although that could be choreographed and manipulated).

a reply to: Southern Guardian

can you show me any threads you did during the Obama administration when his debt was skyrocketing? I just want to be sure you aren't just being a partisan hack.

Jerome Hayden Powell (born February 4, 1953) is an American former investment banker, who is the current Chair of the Federal Reserve. He was nominated to the position by President Donald Trump, and confirmed by the United States Senate.

www.latimes.com...

Powell indicated the forecast for rate hikes this year might increase when the policy making Federal Open Market Committee meets on March 20 and 21.

Us dollar index rebounded above 90 today, perhaps signaling the bottom of the recent decline of the US dollars value against the other world currencies.

Sounds like a very responsible announcement, but might shift some of the investors out of stocks and into interest bearing instruments.

doesn't matter

stop making payments and write it off, implement a new form of currency and force the world to convert with zero debt

a reply to: Cauliflower


The problem with rate hikes is, that it has been shown to crash a badly performing economy. All the mortgages that have been borrowed, will have a hard time being serviced if the rates go up. New home loans have fallen of a cliff, because of the prospect of a rate hike. Printing money and locking it in a room, doesn't help the real economy, as shown at the moment the actual velocity of money flowing around in the economy is as low as its ever been.
Trump says that the economy is doing "fantastically well" it is if you are the one percent. Printing money then locking it in a room, stops it from causing hyperinflation, which preserves the wealth of the one percent, but does very little for the real economy. The problems are now compounding, as returning bonds are being bought by the Fed, because their is no one else to buy them, the cheap money was used by the big companies to buy back shares, which keeps the share market propped up. If the central Banks loose control, over the suppression of the price of Precious metals, the whole shebang gets dicey. The dollar as the reserve currency is in its last days, as Russia will be dealing oil to China and getting paid in Gold backed Yuan. This will either mean a war, or American Hyperinflation. Who really knows but its best to take your own measures to minimize its effect.
The East has been buying gold for many years, so they aren't worried if Gold and Silver get revalued, since the Wests supplies must be low because of this. I can see the price of an ounce of the golden stuff going up quite a bit.

Yeah where is the Tea party? Oh that's right, they were lying, they only Protested because the President was black.

originally posted by: CB328
Yeah where is the Tea party? Oh that's right, they were lying, they only Protested because the President was black.

originally posted by: CB328
Yeah where is the Tea party? Oh that's right, they were lying, they only Protested because the President was black.

Just when I think all the stupid comments were used up, along comes a post like this. Taxed Enough Already Party, while full of old folks is full of White, Black, Hispanic and Asian old people. I know I went to a rally, as a Libertarian wanting to encourage them to vote OTHER than R or D. I found all races in representative amounts for who lived there, but mostly they were older people.

a reply to: Southern Guardian

Yeah, the federal reserve is a bitch huh.

Fiat money is toilet paper.

Are you new?

originally posted by: anonentity
a reply to: Cauliflower


At some stage the debt has to be paid, their is only one way to do it. That is to print it away.

Not true. The debt is repaid and new debt issued on a continual basis.

There is no future point when all the debt needs paid.

originally posted by: toysforadults
doesn't matter

stop making payments and write it off, implement a new form of currency and force the world to convert with zero debt

Would be the most disastrous and unnecessary economic policy ever pursued.

There is no future point when all the debt needs paid.

Only when everyone else stops buying it.

So, how come everyone is scared of an infinitely increasing money supply, but no ones scared of infinitely increasing human population?

Even though that is what necessitates increasing the money supply and countless other problems?