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rriley

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Discussion starter · #1 ·
The country's debt cannot continue increasing forever. At some point it has to be drastically reduced or eliminated.

The politicians talk about spending less and taxing more but that hasn't happened yet and won't happen in the future.

I think that you will eventually see the dollar devalued sharply simply by printing more money and using the new money to pay all of the national debt. That will have the effect of increasing all of the prices that we pay for things and this is the price that we will pay for electing incompetent and crooked elected officials.
 
#2 · (Edited)
The three biggest political issues for me have been the 2nd Amendment, government overreach and the national debt For as long as I can remember. The last time the national debt was even somewhat under control was during the Clinton years when it was in the consistently 4-5 trillion range. It nearly doubled under Bush To about 10 trillion. It nearly double again during the Obama years to almost 20 trillion. 4 years of Trump took it to almost 27 trillion and Biden is not the man to get things under control.

It use to be that the Republican party was seen as the fiscally responsible party but it does not seem that there are enough votes with that philosophy.

The numbers are so huge now that I can’t comprehend the numbers. ever time they come out with a new trillion dollar plan it’s like America has already forgotten about the last trillion plus dollar plan. I don’t get it.

If i run up to much debt in my life I can lose everything and am held responsible. For some reason we accept less from politicians than we do from ourselves. Eventually it will lead to a major implosion. It will not be pretty when it happens.
 
#3 ·
We are way past the point of no return. The only thing politicians can do is kick the can are far down the road as possible and hope they are no longer in office when it all unravels. We cannot repay the debt, even cutting costs drastically won't pay off the debt for decades. The only ending is default or debt forgiveness.
 
#4 · (Edited)
rriley said:
The country's debt cannot continue increasing forever. At some point it has to be drastically reduced or eliminated.
Click to expand...
Maybe. History says you are correct but that might not make it true.
The dollar would likely have already collapsed except for the fact that all other currencies are in the exact same boat as America's Dollar. Rampant printing of non-backed currencies is and has been happening around the globe. So there is nothing else available to replace the Dollar, hence it is still strong.
For the Dollar to collapse the whole world must also collapse. Will this happen? Who knows.
 
#5 ·
Hence, The Great Reset. Globally, a bail in happens, the elites get a better deal than the mass of plebs. Globally, the masses get skinned for 80-90% of thier non-physical assets and thr bbn meter is set back to 1970 when the USD was worth .70 on the 1.00

Th er lure id allegedly that that 10-30% goes as far as before but taxes, gees, etc will stay higher.....like FDR's gold swindle back in the 1930s. The govt maked a ptofit even as taxes in the new re-issued currency are 30% higher overall. Its another swindle and govt overreach. Magically, the elites and thier fluffers in Congress will b er living well, like a wealthy stalist socialist fraud who flaps hid gums endlessly.
 
#6 ·
rriley said:
I think that you will eventually see the dollar devalued sharply simply by printing more money and using the new money to pay all of the national debt.
Click to expand...
I agree with the rest of your post. However dollar valuation is based on confidence of other currencies. Some could make a reasonable argument to include crypto currencies. Even if relative devaluation is not sharp without that we could still have inflation.

With global population increasing, migration legal and illegal out of control and even 3rd world countries' standards of living increasing we will have inflation.
 
Discussion starter · #7 ·
PalmettoTree said:
I agree with the rest of your post. However dollar valuation is based on confidence of other currencies. Some could make a reasonable argument to include crypto currencies. Even if relative devaluation is not sharp without that we could still have inflation.

With global population increasing, migration legal and illegal out of control and even 3rd world countries' standards of living increasing we will have inflation.
Click to expand...
The "Solution" I described doesn't have anything to do with confidence of other currencies.

The liberals could simply have the dollars "Printed" and use them to pay off the "Government Debt". No other currencies or Crypto required.

Of course this additional dilution would mean that goods would cost more...........
 
#8 ·
It's currently ~$29 trillion as I type this. I am bluntly surprised we have not had a collapse yet, which I expected at $20 trillion. I think TBTB have managed to prop the house of cards up considerably for a decade but having said that, the cracks in the system are becoming undeniable; shortages, hoarding, inflation, the failures of JIT, housing shortages, soaring prices of goods on top of the inflation, the dishonest and inept leadership of public officials and corporate leaders, and so forth.

Every day I expect to wake up to disasterous news.
 
#9 ·
When the National Debt was in the low $20 trillions and the 10 year treasury was about 1%, interest on the ND was about 10 or 11% of ALL government spending. With the ND pushing $30 T and the 10 year is at 1.6% and rising I think we are screwed. The main weapons the Fed has are controlling the money supply and adjusting interest rates. They announced they will soon “taper” the $120 billion per month bond buy back so expansion of the money supply will slow its 10 year expansion. This could have the effect of having bond prices decline and yields raise. Increasing the national debt and deficit spending. If the forecasts of rising inflation are correct, the Fed historically raises interest rates. We‘ll be like the snake that ate itself. Our future looks very very bad.
 
#10 ·
Rural Buckeye Guy said:
Hence, The Great Reset. Globally, a bail in happens, the elites get a better deal than the mass of plebs. Globally, the masses get skinned for 80-90% of thier non-physical assets and thr bbn meter is set back to 1970 when the USD was worth .70 on the 1.00

Th er lure id allegedly that that 10-30% goes as far as before but taxes, gees, etc will stay higher.....like FDR's gold swindle back in the 1930s. The govt maked a ptofit even as taxes in the new re-issued currency are 30% higher overall. Its another swindle and govt overreach. Magically, the elites and thier fluffers in Congress will b er living well, like a wealthy stalist socialist fraud who flaps hid gums endlessly.
Click to expand...
I don’t think one’s physical assets will be very safe, either.

“Why do you and your wife need sixty acres? You have to give forty to these new refugees.”
 
#11 ·
rriley said:
The country's debt cannot continue increasing forever. At some point it has to be drastically reduced or eliminated.

The politicians talk about spending less and taxing more but that hasn't happened yet and won't happen in the future.

I think that you will eventually see the dollar devalued sharply simply by printing more money and using the new money to pay all of the national debt. That will have the effect of increasing all of the prices that we pay for things and this is the price that we will pay for electing incompetent and crooked elected officials.
Click to expand...
The National Debt is beyond the ability of men to fix it, TPTB know this and will use the crisis/collapse to strengthen their authoritarian grip on the world and us... Look at what they've done in respect to the covid19 propaganda and control of commerce... Resist now Vax no Vax doesn't matter, Resist the push to divide us now or lose liberty property and security.
 
#13 ·
it is a permanent debt, and the notion of it ever being paid off is nonsense really. think of it this way, the debt is proportional to inflation etc. In 1920, 1950, 1980, 2000, and 2020 ... how much did an average American hold for mortgage on their first home? Did it actually cost more in 2020 than 1920 - or over time, does our perception make it seem like more than it really is?

I think there is a point, like in 2007 - where the corrupt people pulling the strings create a global financial crisis worse than anyone has ever seen - sure, but the amount of dept we carry is unlikely to ever become smaller. Both parties have played up the same fallacy as long as I can remember - back to the 80s. The difference was Reagain increased the debt, but also increased the nations total wealth by Trilliosn and Trillions. The notion that debt is bad is a fools notion. You think people gettin rich on real estate - actually own any of those properties?

If you earn more per $ in your IRA than the interst charged in your mortgage. Say it is an exact equal amount. If you paid cash for your house, you would lose money in the long run, the debt actually earns you your retirement. Well, most people who own homes and are just regual middle class folks.
 
#14 ·
rriley said:
The "Solution" I described doesn't have anything to do with confidence of other currencies.

The liberals could simply have the dollars "Printed" and use them to pay off the "Government Debt". No other currencies or Crypto required.

Of course this additional dilution would mean that goods would cost more...........
Click to expand...
If you look at the US Dollar index it is measured against other global group currencies. Therefore the strength of the US Dollar is dependant on the confidence in the US Dollar vs. that basket of currencies.

The US Dollar Index can be weak or strong and still have inflation. Inflation occurs when too many dollars are trying to buy too few goods. The fed is printing money and we have supply chain problems therefore we have inflation regardless of how the US Dollar compares to other global currencies.

Cyber currencies are going to play a part in all this mess. As yet it is unclear.
 
#17 · (Edited)
Our government can pay off the debt at any time by minting as many one trillion dollar platinum coins as they want.
I do think the whole house of cards will fall but I am the worst person in the world as far as guessing the timing of the collapse. Let's just say I'm thankful that LTS food as a very long shelf life :)
 
#19 · (Edited)
Pretty much this entire thread is corroborated with biblical prophecy. There WILL be a one world government. As the lone capitalist super power that perpetuated independence, liberty,and prosperity, the US had to be neutered in order for the globalists to take control. We were the last obstacle. Our compounding debt is impossible to pay off precisely as planned decades ago. Get right with Christ folks. Things aren’t falling apart, they are falling into place.
 
#20 ·
blacklab said:
The three biggest political issues for me have been the 2nd Amendment, government overreach and the national debt For as long as I can remember. The last time the national debt was even somewhat under control was during the Clinton years when it was in the consistently 4-5 trillion range. It nearly doubled under Bush To about 10 trillion. It nearly double again during the Obama years to almost 20 trillion. 4 years of Trump took it to almost 27 trillion and Biden is not the man to get things under control.

It use to be that the Republican party was seen as the fiscally responsible party but it does not seem that there are enough votes with that philosophy.

The numbers are so huge now that I can’t comprehend the numbers. ever time they come out with a new trillion dollar plan it’s like America has already forgotten about the last trillion plus dollar plan. I don’t get it.

If i run up to much debt in my life I can lose everything and am held responsible. For some reason we accept less from politicians than we do from ourselves. Eventually it will lead to a major implosion. It will not be pretty when it happens.
Click to expand...
the way I remember it the debt was $29 Trillion in Obama’s last term. There was some ‘creative accounting’ done that brought it down and then It went to the $27Trillion you listed for Trump…

With derivatives, it essentially makes it IMPOSSIBLE to pay off the debt. So we can:
1. expect it to grow
2. we will never be out of debt in our lifetime Going forward.

what we CAN do, is get our representatives to say NO to any new debt ceiling And do their job on balancing the budget. Raising it a trillion here and a trillion there is only kicking the can down the road and not solving the problem.

WHY the US government agreed to debt with derivatives is beyond me. Clearly anyone who has access to finance experts would know this is a BAD thing for the American People.

I believe the dollar will collapse in my lifetime once countries around the world stop paying for oil in USD. Which at the rate things are going, doesn‘t look good.

if countries start paying for oil in Bitcoin, that would be interesting…
 
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