20 trillion in debt

[Nesikep]

How are you going to call the insurance company with no phone?

I do agree that peoples priorities are screwy, but the insurance companies certainly try to find any way out of paying too

 

[Anonymous]

https://youtu.be/Tym9AhMNcP0 That doesn't even take into account the unfunded liabilities that stand at $890,000 per taxpayer. The 20 trillion will never be paid back. It might could be brought under control but Americans don't have the stomach for the sacrifices it would take. Congress cant even balance a budget for one year so paying down the debt wont ever happen. It will just keep on piling up and adding more digits and devaluing the dollars in circulation until.............the U.S. Dollar is no longer the World currency. That has been happening already. http://www.zerohedge.com/news/2017-04-0 ... d-standard
Dollars are not backed by gold or any other asset. No one even knows how much gold reserves the U.S. holds. Congress will not vote to audit the Federal Reserve Bank. Who knows how all this will play out.

 

[Nesikep]

One more thing about insurance, they force you into stupid crap... Like.. we can't have liability insurance because we have to insure our house against fire to do that, and to do that, we need to have a CSA/UL approved wood stove... So we can't have liability insurance because our house has a wood stove? What kind of crap is that?

 

[Stocker Steve]

Who knows how all this will play out.

Lots of history on how it will end.
Question is when?

 

[Anonymous]

Who knows how all this will play out.

Lots of history on how it will end.
Question is when?

"If there must be trouble, let it be in my day, that my child may have peace." Thomas Pain

 

[farmguy]

Highpoint wrote "With lower taxes regan brought down debt and increased monies for the government thru growth. The growth jump went to 7 and if we even were close to that the debt would drop fast. We have been at 1 or below. It is always better to get tax money from wages of millions more people than just a few."

I vote GOP but this is the truth. Largest increase in national debt since FDR and the depression.

https://www.thebalance.com/us-debt-by-p ... nt-3306296

Ronald Reagen Added $1.86 trillion, a 186 percent increase from the $998 billion debt at the end of Carter's last budget, FY 1981.

 

[Ryder]

https://youtu.be/Tym9AhMNcP0 That doesn't even take into account the unfunded liabilities that stand at $890,000 per taxpayer. The 20 trillion will never be paid back. It might could be brought under control but Americans don't have the stomach for the sacrifices it would take. Congress cant even balance a budget for one year so paying down the debt wont ever happen. It will just keep on piling up and adding more digits and devaluing the dollars in circulation until.............the U.S. Dollar is no longer the World currency. That has been happening already. http://www.zerohedge.com/news/2017-04-0 ... d-standard
Dollars are not backed by gold or any other asset. No one even knows how much gold reserves the U.S. holds. Congress will not vote to audit the Federal Reserve Bank. Who knows how all this will play out.

Going off the gold standard ushered in worthless money

 

[BK9954]

We will print our way out of it, hyperinflation will hit, everyone who holds a dollar will be screwed, and we will collapse. It will be Venezuela. No one wants a worthless watered down currency. There is no way to pay back the debt with our spending habits and future liabilities.

 

[Nesikep]

I think we can all agree that something is going to happen sometime... this just can't keep going..

The trillion dollar question is WHEN! One major flaw in the way everyone looks at inflation is to look at other currencies.. All of which are doing the same thing! My cousin bought a house 5 years ago and sold it recently, more than doubling their money... THAT is more like the real inflation rate, to heck with what the central banks say about 1.5% yearly inflation, it's far far higher than that.

 

[BK9954]

Who knows how all this will play out.

Lots of history on how it will end.
Question is when?

It's coming when the other countries are ready and set up for it. It will impact everyone worldwide, but it will be strategic. When we outlive our usefulness or become too much of a liability to China or the other currency holders they will call in the debts. Who knows, when we pizz them off enough, go to war with N. Korea, A nuke here would wipe our economy out. It could happen a lot of ways. Just be ready, I have been ready for the last 12 years, saw the 2008 crash coming and started then. My brother majored in Business Economics and said get ready, a crisis is inevitable. Just waiting for the next one. The stock market is arificially inflated right now, just like right before the huge crash in the great depression. If you have money to invest you can get rich if you know when to pull out. Too many people I have talked with are oblivious that another crash will happen, but it will.

 

[Son of Butch]

Check this out... http://www.usdebtclock.org/

How is it debt per citizen is remaining 100% constant?

 

[Anonymous]

Check this out... http://www.usdebtclock.org/

How is it debt per citizen is remaining 100% constant?

It doesn't remain constant. Top right hand corner is a link to the past and future debt clock. The debt per citizen has well over doubled since 04. According to the chart, In 2021 every taxpayer will be responsible for almost $1,000,000 in unfunded liabilities. Most taxpayers do not have a net worth of $1 million. We will not continue indefinitely down this path.

 

[Bright Raven]

Check this out... http://www.usdebtclock.org/

How is it debt per citizen is remaining 100% constant?

It doesn't remain constant. Top right hand corner is a link to the past and future debt clock. The debt per citizen has well over doubled since 04. According to the chart, In 2021 every taxpayer will be responsible for almost $1,000,000 in unfunded liabilities. Most taxpayers do not have a net worth of $1 million. We will not continue indefinitely down this path.

Nothing is permanent. Not even the solar system! I realize that is not what you meant but it is a waste of time to worry about a system of governance that is destined to fail. That applies broadly. It may sound crass but John Candy nailed it.

Go with the flow, like a twig on the shoulders of a mighty stream.

 

[Stocker Steve]

Because he government has propped up so many markets for so long, it will be a huge bust when it occurs.
Could be decades before it happens. Could be soon...
Just have to invest some time and money is what your family needs, even though it will not return 10% annually.

 

[Sterlingacres]

Compound interest is sinful and dangerous.

Sodomites and usurers rule too much of earth.

 

[BrangusUSA]

Our politicians are mortgaging our children and grandchildrens future. I believe it is wrong and a sin. Americans as a whole have embraced the buy now and pay later culture. Many Americans are in debt up to their a$$ so they don't consider it an anathema when politicians do the same to our country.
My goal is to be as self sufficient as possible but I haven't gotten there yet. Plus, I am not sure anyone can plan for the hyper-inflation that will be coming.

 

[BK9954]

Our politicians are mortgaging our children and grandchildrens future. I believe it is wrong and a sin. Americans as a whole have embraced the buy now and pay later culture. Many Americans are in debt up to their a$$ so they don't consider it an anathema when politicians do the same to our country.
My goal is to be as self sufficient as possible but I haven't gotten there yet. Plus, I am not sure anyone can plan for the hyper-inflation that will be coming.

Look at what you buy now and what you could survive without buying. Fuel would be it, and paying property taxes are the ones that I need money for. For whatever jobs that would last through that crash hopefully the salaries would adjust quickly enough to the inflation rate, if you could find a job. If that happens, it will be worse then the depression, the mob mentality of the country has changed from the 1930's and our cream puff offended youth aren't prepared at all.

 

[Anonymous]

Go with the flow, like a twig on the shoulders of a mighty stream.

Isn't that the exact attitude that brought about the financial mess the country is in at present? Someone sure needs to buck the current.

 

[Bright Raven]

Isn't that the exact attitude that brought about the financial mess the country is in at present? Someone sure needs to buck the current.

Not going to happen. The Government giveth, but never taketh away.

But you already said that!!! So why are we having this discussion?

 

[Anonymous]

Isn't that the exact attitude that brought about the financial mess the country is in at present? Someone sure needs to buck the current.

Not going to happen. The Government giveth, but never taketh away.

But you already said that!!! So why are we having this discussion?

Maybe for nothing else than to get people to think a little bit. Critical thinking seems to be lacking by today's populace. Im reminded of this quote. "It does not take a majority to prevail... but rather an irate, tireless minority, keen on setting brushfires of freedom in the minds of men." Samuel Adams