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Old 05-29-2022, 07:23 AM
 
Location: Free State of Florida
25,268 posts, read 12,399,568 times
Reputation: 18889

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Quote:
Originally Posted by trobesmom View Post
Loved by both parties. This isn't just the Democrats' fault. We've been going further and further into debt for years.
1930 seems to be the year it took off:

https://en.wikipedia.org/wiki/Govern...ending_GDP.png

And, yes, its BOTH political parties, not just the Democrats. The Dems might be bigger spenders than the Pubs, but that doesn't mean the Pubs are not bad too...because they are.

I don't see any way that the over-spending ends well. I think only a total economic collapse will bring change. After the collapse, Libertarians will emerge from the ashs.

Rand Paul/Thomas Massie 2024 (or just let American continue to drown in debt until the collapse)
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Old 05-29-2022, 07:38 AM
 
Location: Free State of Florida
25,268 posts, read 12,399,568 times
Reputation: 18889
Quote:
Originally Posted by richardstarkey View Post
Lol.
The US is already toast. There’s no going back. This country is shot! The damage is irreversible.
I agree because I have no confidence in voters to turn it around, until after the collapse and millions die.

"When" the collapse occurs is foggy...I think we have 12 years...just after the next Republican 10-year run.

I don't think the Republicans will take the required steps to turn things around in their 10 years of control, they'll just maintain the status quo. The continuing resolutions will continue, & no responsibe budget process will ever return...until AFTER the collapse.

Most of those who will die will be the bottom 40%, just like how Covid took the elderly, obese, & sickly...natural selection will take over.

The size of gov't must be cut by 1/2 or more to avoid collapse, & the parasites in DC will not allow that to happpen. Gov't consuming ~50% of GDP is unsustainable, as we are now seeing...we're now at the ledge, w/ this inflation, & glaring down into the abyss.
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Old 05-29-2022, 08:56 AM
 
5,913 posts, read 3,163,547 times
Reputation: 4397
Quote:
Originally Posted by Enough_Already View Post
The article reveals the hopelessness of the current situation, I posted how we got to this point.


https://www.city-data.com/forum/63521173-post23.html
You did? It was one line about Democrats spending recklessly, taxes, and regulations. Sorry, but my point still stands.
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Old 05-29-2022, 09:01 AM
 
18,805 posts, read 27,246,954 times
Reputation: 20170
Quote:
Originally Posted by Enough_Already View Post
There are problems with both parties but the debt is primarily a democrat created problem. The difference in ideology between the two parties is huge especially related to the debt and the economy. They are mutually exclusive.

Oh, ppplease...
Since 1974, when golden standard was removed and dollar became fiat paper.
When shift was done into stimulating consumption and global economy shifted into finacial speculations, instead of industrial development.
That's the fruits, you are about to eat now. Dems or reps, no matter. Both are greed oriented and puppets on the money bags strings and mind only their OWN benefit.
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Old 05-29-2022, 09:02 AM
 
Location: In the middle of nowhere... and enjoying it
1,854 posts, read 769,808 times
Reputation: 1717
We've been carrying a large debt at a low interest rate. The government pays $400 Billion in interest every year at today's low interest rates. If that rate climbs to levels not seen since the late 70's early 80's we are in deep dodo.
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Old 05-29-2022, 09:08 AM
 
Location: Flyover part of Virginia
4,231 posts, read 2,424,383 times
Reputation: 5058
Quote:
Originally Posted by ukrkoz View Post
Oh, ppplease...
Since 1974, when golden standard was removed and dollar became fiat paper.
When shift was done into stimulating consumption and global economy shifted into finacial speculations, instead of industrial development.
That's the fruits, you are about to eat now. Dems or reps, no matter. Both are greed oriented and puppets on the money bags strings and mind only their OWN benefit.
In 1973, when the US went off the last vestiges of a pseudo gold standard, was when the world became a financial and monetary free-for-all.
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Old 05-29-2022, 10:03 AM
 
4,197 posts, read 1,585,199 times
Reputation: 2183
Quote:
Originally Posted by ukrkoz View Post
Oh, ppplease...
Since 1974, when golden standard was removed and dollar became fiat paper.
When shift was done into stimulating consumption and global economy shifted into finacial speculations, instead of industrial development.
That's the fruits, you are about to eat now. Dems or reps, no matter. Both are greed oriented and puppets on the money bags strings and mind only their OWN benefit.

i agree, i even have a tendency to think everything is already in the toilet and only peoples "confidence" in our funny money keeps it limping along....
an interesting idea i have seen floated is this Mussolini described fascism as the government working WITH business in cooperation, as our revolving door lobbyist/government officials are doing right now
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Old 05-29-2022, 10:18 AM
 
Location: Free State of Florida
25,268 posts, read 12,399,568 times
Reputation: 18889
Quote:
Originally Posted by formerlynorthofnowhere View Post
We've been carrying a large debt at a low interest rate. The government pays $400 Billion in interest every year at today's low interest rates. If that rate climbs to levels not seen since the late 70's early 80's we are in deep dodo.
Imagine your mortgage tripling over the next 10 years. That's what is facing us...U.S. Fed Gov't interest rate costs are projected to triple:

https://www.pgpf.org/blog/2021/07/in...he-next-decade

In this link, at the bottom of the 2nd paragraph, it reads "inadequate revenue systems". What does that mean? #1 they cannot possibly increase taxes enough to pay it w/o collapsing the economy, AND since gov't is consuming 50% of GDP, there's not enough capital left for the private sector to grow to generate more tax revenues. That means cost reductions must occur to avoid collapse.

ALERT! The above estimates were done in '21 BEFORE inflation rose, & the fed had to raise interest rates more than previosuly expected.

We now pay $330B in interest, & in ~8 years, well be paying ~$990B.

So, where will the $660B come from?

It MUST come from defense and entitlements. No other area is large enough to make a dent in these future interest payments.

So, how to cut defense & entitlements That will be the #1 story in the 2024 campaigns because it can't wait any longer.
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Old 05-29-2022, 10:34 AM
 
18,740 posts, read 8,354,532 times
Reputation: 4117
Quote:
Originally Posted by Enough_Already View Post
Because that debt has to be paid at some point. The current amount of debt is not sustainable.
One major difference between sovereign and personal debt, is that it is NEVER paid off. In 10 and 100 years our national debt will be progressively larger, assuming no loss of a world war or asteroid hit.
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Old 05-29-2022, 10:36 AM
 
9,339 posts, read 6,884,607 times
Reputation: 14744
Eventually all debts must be covered... You either default, increase taxes, or print money and all will have devastating impacts to our country. Once people love faith in the currency they will cease working and look to make a move.
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