US debt is now $37trn – should we be worried?
US debt is now $37trn – should we be worried?
www.bbc.com
US debt is now $37trn – should we be worried?
24 comments
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Yes.
Edit: Replaced USD to EUR with USD Index for clarification
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United States doesn’t buy USD using Euro, they do it with adding account balances on computers.
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90% of the strength of the USD comes from global savings and investments.
When national debt increases, the bond market is incentivized. The bond and stock markets have an inverse relationship, creating a bear market for investors, and deflating the USD internationally.
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Republicans hold power, of course we're not worried. The abacus only gets broken out when Democrats are in office you silly goose
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I remember when japan went over 100% gdp and everyone held their breath. Its amazing how well this house of cards keeps on holding up despite it getting bigger and bigger. No one wants any of the others to fall because they know what will happens once the first domino falls.
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Just tax the poor more. 🤦♂️
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These poor guys can still afford iphones. Clearly there is more to tax.
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Borrowing in an asset that you create at any desired amount (and allowed private entities to do so as well) seems fairly safe. Sleep safe, United Statians.
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That's the thing though--if they can create more at any time, why bother "borrowing" in the first place? Because of the debt, the government pays over a billion dollars every day on the interest on that loan.
It's not the economy I'm concerned about, it's channeling billions into the pockets of the wealthy through interest payments--billions that are paid by the working class.
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it's channeling billions into the pockets of the wealthy through interest payments
System is working as intended and the only solution is to quit being poor 🤡
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That's the thing though--if they can create more at any time, why bother "borrowing" in the first place?
Tying up economies of debt issuer and debt holder seems to be the reason for the US. For debt holder it’s a fairly safe way to park money but also exert some power over US if they’re big enough. Realistically what Ben Bernake is saying in that interview is that you could replace one with the other depending on circumstances but that actually threatens capital holders hence why it’s not done like that.
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We aren't going to be a nation for much longer so it doesn't matter that much
24 comments
$37TRILLION BEFORE or AFTER Trump's BIG BEAUTIFUL BILL THAT ADDS TRILLIONS TO OUR DEBT WHILE ELIMINATING MEDICAID AND MEDICARE!