Economy White House warns of economic collapse if debt isn't fixed.

[ElKarlo]

I think it actually works in their favor. China's biggest challenge right now is its demographics, and Chinese couples don't tend to have kids until they can secure housing. I worked in China for 6 months in 2014, and let me tell you good luck finding a chick for a serious relationship if you're renting. CCP's been trying to cool the real estate market for a decade without success, and it's gotten to a point where a large segment of their population is now pissed off. That's why Beijing is going to allow Evergrande to fail.

Social stability is more important to CCP than economic growth or real state market.

I mean it could It depend son how they handle it

if they give out subsidized loans to the lower class they might be able to at the same time stop the market from sliding too much and allowing the poor a chance to own.
As much as I dislike China they do have good polices now and again. Making industry worried about wielding too much lower is def a good thing. You don’t need another Ah lusan rebellion aka the Tang

 

[ElKarlo]

Lol This is problematic cause we have a Democrat as President so that means debt matters to the Republicans again. Nothing brings out the fiscal conservatives in Congress like a Democrat in the White House.

No man. I’ve been mad about debt and have been saying the spending needs to be decreased by 50 billion a year, for years and years now

 

[burningspear]

More excuses for austerity, doesnt anyone ever wonder why someone like pelosi is worth 200 mil? Its a fucking comedy.

 

[Clifford_Harris]

No man. I’ve been mad about debt and have been saying the spending needs to be decreased by 50 billion a year, for years and years now

Not talking about regular citizens, I'm talking about Congress that had to vote on budgets and the debt ceiling.

 

[ElKarlo]

Not talking about regular citizens, I'm talking about Congress that had to vote on budgets and the debt ceiling.

Ok then yes. I agree. The Republican Party has been bad with this. For basically two good decades now. Def high level hypocrisy here

 

[MMA Time Soldier]

It’s all falling apart for White Privilege Monster President Joe Biden. He’s wrecked the US and the world. And is only been 7 months.

 

[blaseblah]

Obama actually moved things in the right direction until Trump's tax cuts blew the needle.

Lol no. Obama continued the Bush era tax cuts, bailed out the banks, and continued all of Bush's wars while starting several new ones.

 

[kenetics]

That's only because there is no government sanctioned digital currency available yet .

Once that happens bitcoin and other non sanctioned digital currency will be outlawed and the government will spin it that bitcoin is only used by criminals anyway and its unsafe .

The government will not tolerate a competing digital currency if they don't have too. Most people will opt to use the "safe" and "dependable" government digital currency when its available.

Once currency is completely digitized its over and the government can manipulate wealth as it sees fit without any consequences for them

Wait. You don't know who owns the government decisions ? You're whole argument falls apart if you don't believe central banks decide what happens in the government lol.

 

[giusti825]

White House warns of economic catastrophe without action on debt limit (yahoo.com)

Meanwhile Bidens total cost for his bills is around SIX TRILLION. What kind of clown world are we living in?

Easy fix. Get out of the current invasions, stop the illegal drone strikes, cut the pentagon budget in half (that would save over 5 trillion alone. Then we can tax the remainder from corporations who pay zero in taxes and by imposing a wealth tax.

This has a two-fold benefit: No more illegally attacking countries that arent a threat to us, creating more terrorists. And two, reducing the continuing shift of the tax burden to the poor and the middle class.

 

[12ga.]

Zero debt - My house is paid for just keep sending my retirement checks. Minnows are cheap. Keep up the good work - I'm depending on y'all.

 

[ElKarlo]

@Orgasmo


A 84 million dollar, USA dollar based bond is due. So it’s def going to impact US or foreign banks soon.
As Bloomberg said. Will it be systemic?

 

[Blayt7hh]

It’s all falling apart for White Privilege Monster President Joe Biden. He’s wrecked the US and the world. And is only been 7 months.

Uh, do you think Joe Biden is the one who racked up this debt?

 

[Beechwood]

From what I read the democrats can raise the debt ceiling on their own, without GOP help. Hope the Democrats get that done soon, or there will be a government shut down.

 

[PrinceOfPain]

That's their not-so-subtle way of telling you to bend over and brace yourselves.
One way or the other, they're going in raw.

 

[Pride23]

@Orgasmo


A 84 million dollar, USA dollar based bond is due. So it’s def going to impact US or foreign banks soon.
As Bloomberg said. Will it be systemic?

It's not just Evergrande, that whole market is a house of cards.

 

[12ga.]

That's their not-so-subtle way of telling you to bend over and brace yourselves.
One way or the other, they're going in raw.

Not if they want to get elected again. There is a book I read as a young man abt 30 years ago called "Democracy - the god that failed", that essentially says all will fail because we can vote the purse - or rather vote for those who open the purse. Many problems democracies face are impossible to solve because of democracy. Global warming, providing Welfare to MIC and other gov contractors, pensions sucking up 70-50% of state/city budgets while providing no services - hell I don't even spend my money where I get my pension from city of Las Vegas - whereas I live in Florida - Some guys I know don't even spend their retirement in the country but in Philippines!

Anyway - everyone has their hands in the pot and will never vote it away. And they damn sure dont want new taxes to pay for these services.. This is why also as a young person debt was only .9 trillion now its like 30 trillion and growing. Biden will probably leave at 40 trillion. At some point interest will exceed ability to pay and we collapse.

Then we'll get something along the lines of China model or other fascism or the bankers run your country like Greece. Hopefully I'm dead by then. In meantime it's party time.

 

[PrinceOfPain]

Not if they want to get elected again. There is a book I read as a young man abt 30 years ago called "Democracy - the god that failed", that essentially says all will fail because we can vote the purse - or rather vote for those who open the purse. Many problems democracies face are impossible to solve because of democracy. Global warming, providing Welfare to MIC and other gov contractors, pensions sucking up 70-50% of state/city budgets while providing no services - hell I don't even spend my money where I get my pension from city of Las Vegas - whereas I live in Florida - Anyway - everyone has their hands in the pot and will never vote it away. This is why also as a young person debt was only .9 trillion now its like 30 trillion and growing. Biden will probably leave at 40 trillion. At some point interest will exceed ability to pay and we collapse.

That's why marketing exists.
People will buy what you're selling, because that's what's for sale. Your only job is to try and make them feel like they made the a choice, and that it was the right one.

Democracy's a doomed long-term prospect. Which is why it barely even exists. The idea that people can vote for whoever'll loosen the purse strings assumes that people actually have a choice about who they vote for.
The fact that America ended up with the Harris-Biden administration is evidence that they don't (< and I don't mean that as an allusion to voter rigging or fraud).

 

[WTF2008]

Let's just keep printing money and sending it to everyone. That will probably help.

Why not? Seriously why not?
We do it for the military.
Why not do it to help people?

 

[Fanu]

western countries only care about debt when its a poor country owing money (for example Argentina, which defaulted 2 times in last 20 years?)

but shit is finally to hit the fan
I mean, it was about time USA got dethroned as worlds n1 economic superpower due to out of control debt caused by wasting trillions projecting power to goat people in middle east and out of control corruption (tax evasions by largest companies in the world backed by massive lobbying efforts)

 

[WTF2008]

If the US government was a person, they would be in jail for how much debt they’re in and can’t account for.

Have killed more civilians in the name of “freedom” than any foreign government.

The US government is way worse than Hitler ever was.