HODL! U.S. debt Alarm - page 3. | Bitcointalksearch.org

mu_enrico

copper member

Activity: 2324

Merit: 2142

Slots Enthusiast & Expert

Quote

DT: Well, I would say over a period of eight years. And I’ll tell you why.

BW: Would you ever be open to tax increases as part of that, to solve the problem?

DT: I don’t think I’ll need to. The power is trade. Our deals are so bad.

BW: That would be $2 trillion a year.

DT: No, but I’m renegotiating all of our deals, Bob. The big trade deals that we’re doing so badly on. With China, $505 billion this year in trade. We’re losing with everybody. And a lot of those deals — a lot of people say, how could the politicians be so stupid? It’s not that they’re stupid. It’s that they’re controlled by lobbyists and special interests who want those deals to be made.

Source: https://www.washingtonpost.com/news/post-politics/wp/2016/04/02/transcript-donald-trump-interview-with-bob-woodward-and-robert-costa/

So he wanted to solve the trade deficit by renegotiating trade deals. However, the US had both trade and federal deficits AFAIK. IMO solving trade only addresses part of the problems. Hence, the US should reap the investment (profit) from all these years deficits/investments, e.g., cutting subsidies, raising interest, and more production/fewer consumption.

Alternatively, threatening to nuke the rest of the world to give them money.

PS: he might have different ideas in 2019 since the interview was in 2016.

pugman

legendary

Activity: 2383

Merit: 1551

dogs are cute.

There's no fucking way Trump clears out the entire US debt, I'd be surprised if he manages to wipe out 1% of it, and as small as the 1% may genuinely sound, realistically that's a fuckton of money, and that is 220,000,000,000$ aka 220 Billion.

Here's how I see it: Trump mines out all the fucking oil from these Middle-eastern and other oil rich countries, disintegrate all of those fucking countries so they dont fight back, and he makes US even more rich, prints out more money, and gives out more fucking loans,because they still need more money and it wont be enough to avert Global crisis.

HODL bitcoin or not, the recession that's at our necks is gonna fuck us all, and we can do literally nothing about it.

leftgirly

jr. member

Activity: 132

Merit: 3

All over the world, almost every country is in debt. That is how the world and the financial sector is moving in this century. The more responsibilities you put on yourself, the more you are likely to be in debt. Part of the annual budget of the US government are used in military operations and taking care of many deprived areas of the world. It is not surprising to see such financial reports on the United States.

jossiel

hero member

Activity: 2842

Merit: 625

Can somebody tell me if this website[1] for the monitoring of US debt is viable and somehow accurate?

[1] https://www.usdebtclock.org/

Quote from: yesyes18 on August 20, 2019, 03:38:56 PM

Bitcoin is indeed a safe haven.

Yes, definitely but until now many US citizens still doesn't consider and know it.

yesyes18

member

Activity: 546

Merit: 12

And I'm not surprised at all. The kinda way the USA builds their economy will basically result in such. Printing money anyhow is one of the reasons and also that their undue economic supremacy they try to portray all the time. I learnt they're now considering a tax cut which will eventually lure people into keeping more at the banks lol. Bitcoin is indeed a safe haven.

stompix

legendary

Activity: 2912

Merit: 6403

Blackjack.fun

Quote from: Febo on August 20, 2019, 12:37:58 PM

Do you have link to source of that promise. Sounds a dumb promise. Thx in advance.

https://www.washingtonpost.com/news/post-politics/wp/2016/04/02/transcript-donald-trump-interview-with-bob-woodward-and-robert-costa/
It's behind a paywall so here is the part:

Quote

DT We’re a debtor nation. We’ve got to get rid of — I talked about bubble. We’ve got to get rid of the $19 trillion in debt.
BW: How long would that take?
DT: I think I could do it fairly quickly, because of the fact the numbers . . . .
BW: What’s fairly quickly?
DT: Well, I would say over a period of eight years.

Anyhow, Trump said a lot of stupid things....no point even counting them.
As for the debt itself, it has reached a point where it doesn't even matter how big it is and how much is growing.

Febo

legendary

Activity: 2730

Merit: 1288

Quote from: hugeblack on August 20, 2019, 10:04:27 AM

After his election, Trump promised to wipe out the US national debt,

Do you have link to source of that promise. Sounds a dumb promise. Thx in advance.

Wilhelm

legendary

Activity: 1652

Merit: 1265

The US monetary system is made to allow for an ever increasing debt.

hugeblack

legendary

Activity: 2506

Merit: 3645

After his election, Trump promised to wipe out the US national debt, but the national debt has already grown at a rapid rate and exceeded $ 22 trillion for the first time in February.
As experts say, this will be a concern because over time it can raise interest rates for consumers, which means higher rates of mortgages and other types of loans.

For more ---> Debt and deficits are skyrocketing. How does it affect you?
Source ---> 'Self-inflicted wound': Donald Trump signs budget bill as
experts warn he's on track to add trillions to U.S. debt

Trump wrote:

Quote

Budget Deal is phenomenal for our Great Military, our Vets, and Jobs, Jobs, Jobs! Two year deal gets us past the Election. Go for it Republicans, there is always plenty of time to CUT!

Topic: HODL! U.S. debt Alarm - page 3. (Read 555 times)