With stupid being indicated by the fact that the public bought it.
Maestro
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Originally Posted By: digitalSniperX1
Make no mistake, being part of such a system places the national debt on the people. And in varying ways.
And I don't see a growth curve that'll allow such debts to be sustained. Unless we're talking an inflation curve.
Again, make no mistake. A country which devalues its currency to enhance its balance sheet has in theory defaulted on its debt.
That's what was Sooooo obvious nearly 2 years ago...there was never any intent to pay the debt off...there couldn't be due to the curve that was being tracked.
It was always intended to either default, or default via inflation.
Make no mistake, being part of such a system places the national debt on the people. And in varying ways.
And I don't see a growth curve that'll allow such debts to be sustained. Unless we're talking an inflation curve.
Again, make no mistake. A country which devalues its currency to enhance its balance sheet has in theory defaulted on its debt.
That's what was Sooooo obvious nearly 2 years ago...there was never any intent to pay the debt off...there couldn't be due to the curve that was being tracked.
It was always intended to either default, or default via inflation.
Well, US govt. debt was 200 billion if I recall (FY '07).
This year, 10x that.
Not sure what's changed in 2 years other than the economic climate and 10x the debt.
This year, 10x that.
Not sure what's changed in 2 years other than the economic climate and 10x the debt.
Well, I think 2008's is still being tabulated and I think it's well beyond 455.
The debt is constantly being paid as treasuries are bought and sold continually. There was no hint at prescribed currency devaluation 2 years ago.
The debt to GDP ratio has been expected to decline as the dollar naturally weakened (you know, free marketstyle with no Chinese/ US govt manipulation) and US trade deficits declined. A 200 billion dollar debt increase in an 14 trillion dollar economy growing at 3% annually combined with a declining US dollar tends to support the expected debt ratio decline.
All bets are off for the time being on that now. Especially with a president making statements of trillion dollar debts into the forseeable future (someone told him that's not sustainable, on the job training is tough, and he's backed off that one).
We'll wait to see.
The debt is constantly being paid as treasuries are bought and sold continually. There was no hint at prescribed currency devaluation 2 years ago.
The debt to GDP ratio has been expected to decline as the dollar naturally weakened (you know, free marketstyle with no Chinese/ US govt manipulation) and US trade deficits declined. A 200 billion dollar debt increase in an 14 trillion dollar economy growing at 3% annually combined with a declining US dollar tends to support the expected debt ratio decline.
All bets are off for the time being on that now. Especially with a president making statements of trillion dollar debts into the forseeable future (someone told him that's not sustainable, on the job training is tough, and he's backed off that one).
We'll wait to see.
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