The national debt is over 21 TRILLION dollars. Does this scare anyone?

[frye666]

doesnt matter how much is it, it coul be 400 quadrillion and nobody would give a fuck because the US has a competitive advantage that nobody can surpass, they print the world currency, the US dollar and its interest rates and most of the planet has their debt in dollars, as long as that is in place nothing will happen

As best as I understand things, this is pretty right.

 

[Grassshoppa]

It's a completely fictitious number. It means nothing. It could double every year and it wouldn't change a thing.

 

[Urban Youth]

...yo other countries are moving away from USD as the world reserve currency. Belt road initiative in China is poised to shift hegemonic power to Asia. They're working closely with Russia, who're making connections in the Middle East as well. They already formed BRICS bank in opposition to the world bank.

 

[MusterX]

No. Our economy is the standard of the the world. And as long as our GDP outpaces our interest and spending increases it’s a non issue.

I’d like to see the number go backwards for once though.

The bigger question is why are we paying interest on money that is ours to begin with?

 

[Brom Bones]

Yep. It'll start being an issue when the people/banks/countries lending us money start doubting our ability to pay it back, and refuse. Then we have a financing problem.

Of course, a small budget cut and a raise in tax revenue could pay that off in a reasonable amount of time, should the need ever arise.

Yeah, that ain't gonna happen, bro.

 

[Jack Reacheround]

Bubbles happen when a certain commodity is overvalued. The 2008 crisis mostly happened because we overvalued real estate, and a lot of bank assets were tied up in mortgages

Perfect answer. Flawless victory.

That’s such a simple question that I had no idea how to answer. And I majored in economics. But that really isn’t something that was ever covered even though I was going to school during the financial crisis. They don’t teach you current events and shit like that. They teach you the models, and the math behind the models, and a shitload of statistics, then basically say “figure it out for yourself,” which I guess I didn’t do in this case.

 

[Jack Reacheround]

It's a completely fictitious number. It means nothing. It could double every year and it wouldn't change a thing.

This is partially true. The problem is that credit it the new gold standard. If we show that we are unlikely to pay off our debt, that makes lending to us less desirable and therefore gives us less money to play with. But in theory the national debt can be rolled over indefinitely.

 

[HunterSdVa29]

for other countries, it would present a problem (defaulting on their credit rating for instance)

but for US? the by far Military power in the world? who's going to enforce anything against us?
China? hahahahahah

we're fine

 

[BudKing8806]

Can you eat or defend yourself with precious metals?

Yes

 

[osudude]

Yes

Man you must've figured out some new biology.

 

[BudKing8806]

Man you must've figured out some new biology.

Figuratively speaking. Not literally, fool.

 

[osudude]

Figuratively speaking. Not literally, fool.

So, what exactly are you going to do with your gold bars in the apocalypse?

 

[Goon Dog]

It's only debt if we pay it back. I say fuck 'em. Honor the domestic debt and tell the others to come try to take it. I'm only partially kidding.

 

[IloveTHIS]

It doesn't matter if that number 10x in the next 10 years.

Why? Because this is America. We are the big kid on the playground. We will always make the rules because we sit in the throne at the cool kids table. That will never change. At least not in my lifetime