National Debt Hits $30T

#27
#27
Rasputin_Vol said:
Well, the UK didn't start going broke until WWI and after WWII, they were replaced by the US. So within one generation of them going broke, they lost their position at the top.
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Pax Britannica was a remarkable feat for such a tiny island(s). Just think India, SE Asia, Australia, NA, ME, Southern Africa .....not sure how they pulled it off. Obviously naval and controlled global shipping lanes.
 
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#29
#29
VOLS INC. said:
The OP is right in that this is not a time to point fingers.
Neither party wants to address this. Neither party actually cares.
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What gets me is the differentiation of public vs private fed debt. Such a scam and Ron Paul wanted to audit the feds.

What is interesting according to this article is the Fed debt increased $3.6T in last 2 years. Obviously somebody is purchasing these securities> Hope they are fixed...if not whoa daddy.

The Federal Reserve Holds More Treasury Notes and Bonds than Ever Before

Why the Fed's balance sheet is expected to top $9 trillion after it starts reducing its monthly asset purchases

I will leave it up to more expert opinions here on financials and such
 
#33
#33
VolStrom said:
Why not, but you won't be able to buy gasoline for it.
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It’ll also be a racist symbol of white supremacy in 20 years or so. They will move them all into a museum.

Just seems like that’s where we are heading with all the other ridiculousness, so why not.
 
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#35
#35
n_huffhines said:
First, I'd like to thank the people who refuse to stop voting Republican and/or Democrat.

I'd like to thank Trump for adding $8T of that debt in just 4 years. I didn't think that level of spending was going to be possible for at least another decade. Masterful work there, old chap. He signed off on over a 1/4 of our national debt in 1 term. Let that sink in.

I'd like to thank Biden for saying "hold my beer."

I'd like to thank all the presidents in my lifetime. Basically everybody in congress. The special interest groups. The media. The educational system. And so on.

National debt surpasses $30 trillion due to COVID, government spending
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No one cares about our kids/ younger people's future. Both this and the way COVID has been handled has made that crystal clear.

It's only a matter of time before it all collapses in Venezuela-like fashion.
 
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#36
#36
Rasputin_Vol said:
Well, the UK didn't start going broke until WWI and after WWII, they were replaced by the US. So within one generation of them going broke, they lost their position at the top.
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The UK was “broke” in a debt/deficit sense long before WWI and WWII. Just like the US is and has been for a while. They did not lose their spot at the top until a plausible replacement (the US) had emerged. We aren’t there yet in terms of a plausible replacement. I know all y’all here will say “China!” but they aren’t even close to assuming that role within the next several decades. They are also in terminal demographic decline.

And when a plausible replacement emerges, it doesn’t necessarily have to be a dramatic fall from grace. The UK is still a prosperous country that plays a role on the world stage. It isn’t like they blew up spectacularly and turned into a third world country. The US could have a similar fate when it happens.
OHvol40 said:
We don’t make anything anymore, our place at the top isn’t long for this world either… I guess that’s why we spend so much on military.
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All the high end R&D and intellectual content is still here. We have the rest of the world follow the directions and assemble it because Americans want stuff cheap.

You aren’t screwed until you cease being an innovator, and a huge amount of technological innovation occurs in the United States. China and a lot of the rest of the world, even Western Europe, doesn’t really innovate anything.
 
#38
#38
n_huffhines said:
First, I'd like to thank the people who refuse to stop voting Republican and/or Democrat.

I'd like to thank Trump for adding $8T of that debt in just 4 years. I didn't think that level of spending was going to be possible for at least another decade. Masterful work there, old chap. He signed off on over a 1/4 of our national debt in 1 term. Let that sink in.

I'd like to thank Biden for saying "hold my beer."

I'd like to thank all the presidents in my lifetime. Basically everybody in congress. The special interest groups. The media. The educational system. And so on.

National debt surpasses $30 trillion due to COVID, government spending
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Boomer here. I officially joined the “I got mine” club over 7 years ago and don’t care!
 
#40
#40
Vol737 said:
It’s gotta happen.
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Yes sir...Gotta happen...the artificial political manipulation of markets to avoid inconvenience leads to great pain. Recessions are actually healthy...depressions as occurrence of gov interference not, with elections around the corner. Nobody wants to be GW Bushed. A way for the socialists and communist to say that capitalism is a failure when boom goes the dynamite

I said it before and it is corny as hell. Small forest fires kill off old growth and new sprouts begin with recessionary pain. We are sure burning the whole forest down.
 
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#47
#47
05_never_again said:
What generation has been in control of government during that time?
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This is a rabbit hole. Pols by their very nature are going to be older at office, hence boomers. Ascribing where we are to some generational classification is just wrong and right. I would surmise that each generation bears responsibility in letting things progress to where they are, and the latest is full pedal.
 
#49
#49
Orangeburst said:
This is a rabbit hole. Pols by their very nature are going to be older at office, hence boomers. Ascribing where we are to some generational classification is just wrong and right. I would surmise that each generation bears responsibility in letting things progress to where they are, and the latest is full pedal.
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Yeah, the question was which generation did the most. The Boomers are the largest generation, so sheer numbers would suggest they’d have the biggest impact regardless.
 
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#50
#50
05_never_again said:
Yeah, the question was which generation did the most. The Boomers are the largest generation, so sheer numbers would suggest they’d have the biggest impact regardless.
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So there were and are no fiscal conservatives in the Boomer era? Basically what you are saying with the generalization.
 
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