Seems like the US consumer is stuck between a government with drunk spending, and a ton of debt. Next to a corporation who's squeezed every last penny out of people between wages and costs of goods and services. If GDP is to increase enough to pay off the debt, how does that happen? The only GDP growth comes from sucking up wages and monopolizing, and good old government spending.
the US consumer is stuck between a government with drunk spending, and a ton of debt
don't forget... bilionaires play for free.
Just wait until people stop lending money to the US.
that's the day when they stop trading with us, and mango seems to be working hard on bringing that day.
So does the national debt matter or does it not?
Kind of. The US won't collapse due to its debt, but the dollar will be devalued as money is being printed to pay it back.
This is why Democrats love deficit spending. They get to obscure the true cost of social welfare programs and ensure that workers foot the bill instead of the people making everything so expensive.
Democrats love deficit spending, which is why Republicans historically are the ones that increase the deficit more.
WE. DECLARE. BANKRUPTCY.
I am out of work but old. I have savings that has gotten me by but it will run out. As incredibly bad and stupid as it would be I kinda hope trump does something to allow people to pull from retirement accounts before retirement without getting fees. Its the kind of relief he would do where it helps for the short term and completely fucks you for the long. When it comes to a roof over you head having it today is more useful than ten years from now. It will let some skate for awhile. Maybe I can get a 40 year mortgage.
Hopefully the social security kicks in soon, or you're not that old! If you're looking to buy a house I think there are some tax loopholes for using retirement savings. I'm sure trump and his cronies would also love to relieve you of your retirement in some diabolical way. So I'm guessing your job market is fucked too?
yeah and unfortunately im not that old. just into my 50's so to far from retirement but definately a minus when job hunting along with being unemployed for over a year now. its like two strikes. I mean they won't say that outright. honestly like anything when you look at how fucked so many people are I know im not getting the worst of it.
Its almost like this Trump chap doesn't pay any attention to due debts.
Caaaaaaaarrrrrl
Mods don't want us discussing what our back up plans are for job loss. But if you lost your job today, what job would you apply to on indeed, and would there be enough money from that job to pay your current bills? Do you think there is security in your job market if you lose your job?
Mods also don’t want us talking about assassinating the entire Trump administration
Lmao is that what got removed from my last post? Im trying to gauge sentiment here and this is a reading.
I don’t know about your post history. But the mods on .world are very pro-government.
I mean im pro government too. Order is one of the bonuses of living in a society.
So, which government do you like?
I sure do enjoy a democracy even if I have to vote with glass lickers.
So do you want to answer the question or just avoid it? Specifically, which government do you simp for…. Like the mods…
So do you like the genocide party of the genocide+ party?
I voted for killer Kamala but she was not blood thirsty enough 😩
I was a fan of Biden actually, I know that’s a controversial take on here. I thought he was a good US president. A lot of people don’t think he was a good president because they don’t understand that a president doesn’t make laws.
But a president can bypass laws to ship arms to a country committing genocide!
No… congress made the laws to ship the bombs. They created the money to facilitate the transfer.
Remember when all us kind people wanted to send F-16s to Ukraine and it never happened. Your congressman loves sending guns to Israel. I bet you won’t vote them out this year. I bet you’re too dumb.
False.
Going around Congress, the Biden administration said Saturday it has approved the emergency sale to Israel of nearly 14,000 rounds of tank ammunition worth more than $106 million as Israel intensifies its military operations in the southern Gaza Strip.
For the second time this month the Biden administration is bypassing Congress to approve an emergency weapons sale to Israel as Israel continues to prosecute its war against Hamas in Gaza under increasing international criticism.
I stand corrected! Now remind me; was Hamas holding a bunch of American hostages when that was written?
Irrelevant goal post moving.
The reason stated by the Biden administration was "The United States is committed to the security of Israel, and it is vital to US national interests to ensure Israel is able to defend itself against the threats it faces" it was to protect Israel, nothing to do with American hostages.
Some Democratic lawmakers have spoken of making the proposed $14.3 billion in American assistance to its Mideast ally contingent on concrete steps by Israeli Prime Minister Benjamin Netanyahu’s government to reduce civilian casualties in Gaza during the war with Hamas.
Congress was going to ask Israel to maybe do a little bit less genocide. Biden said fuck that and went around them to do as he pleases.
Biden was a genocide enabling president and that makes Biden a bad president.
So stop issuing bonds. They’re unnecessary in a fiat currency.
Other states have been dumping bonds at unprecedented levels and investing in BRICS.
Okay. And?
China was among them.
China is investing in China?
And?
You want the government to stop issuing bonds. If states are dumping them, there's an inference there, somewhere.
I don't really care about the national debt. The OP is worried about national debt. One way to fix that (if it bothers you) is to stop issuing debt. As bonds mature and aren't replaced, no more debt.
What does it matter if "states" are dumping bonds? Who does it hurt if they sell bonds at a loss? Or a profit? What's the inference?
If the USA can't pay it's debts, we can't trade. Everyone should care about the national debt. It's not coming out of the billionaires' bank accounts, and multinational corporations will simply do business elsewhere. We don't have the infrastructure to produce internally, and if our credit score degrades enough, we won't be able to build it, either.
Yeah, you don’t understand money.
Then explain it to me.
You’re the one who said “if we can’t pay our debts we can’t trade.” That’s nonsense on its face. You need to explain that to me.
Meanwhile, I’ll waste cycles attempting to explain modern monetary theory on a phone keyboard.
Fiat currency is just numbers. Ones and zeros. The Fed(eral Reserve) can simply type these numbers into existence. That’s where the currency comes from. China can buy treasuries, but in a fiat system it’s unnecessary. Money comes from The Fed. The government could close the bond window tomorrow and it would just mean China would put its money in a bank account. Or, you know, spend it on things sold in dollars. Which is what currency issuance for.
Treasuries are a relic of the gold standard when currency was federally required to be tied to some quantity of shiny rocks. It was discarded because it artificially constrained monetary policy. E.g. during wars, the government couldn’t legally print currency, which is why there were all those silly war bonds.
Now the only constraint on issuing currency (really) is inflation. As we are about to find out, inflation is more than just currency issuance. Oil shocks, pandemic-induced supply chain crunches, and avian influenza outbreaks can raise inflation without any change in currency supply.
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