US Debt at $19,959,943,400,000 will $20 trillion make the news? - page 4.

Victorycoin

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Quote from: Sithara007 on January 28, 2017, 01:17:06 PM

Quote from: BillyBobZorton on January 27, 2017, 06:37:04 PM

Quote from: Kevin77 on January 27, 2017, 12:46:39 PM

If $20 trillion makes any panic among investors then that would be really a nice news for alternate investment opportunities. Gold and bitcoin will start flying from that for sure. But as per past histories, US government is known for bailing out themselves by simply printing the required amount of new currencies. So, personally I do not expect any big impact out of it.

We have already crossed $20 trillion dollar mark and the markets have not reacted yet:

http://www.usdebtclock.org/

It's ridiculous. No matter how high it goes, markets don't react to the insane debt, this means that it's going to explode all of a sudden, so let's see what happens during Trumps firs term.

Edit: Somehow we are back at $19.6 trillion

Right now, the debt is not exerting much pressure on the American economy. This is mainly due to two factors. First, the interest paid on this debt is very low, ranging from 0.7% to 3.0%. And secondly, a large part of the debt is owned by the American citizens and corporations.

There is not going to be any impact, the vicious circle would simply continue because the hell of global financial system was designed to create debts that would never be paid off. As a matter of fact, printing money from thin air have always been the name of the game, money backed by nothingness - where would the money to repay it be coming from? Not too long, it would be $30 trillion because Trump is just about to turn America into an island with far more enemies than he met.

Pab

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China doesnt need USA USA need China.Trump is destroying reletionship with latin america countrys,instead of usa cars there will produce chinise volvo. Build bridges instead walls.Trump can enter USA in isolation,prices will ncrease and can be high infation.Importent is that USA is Russia enemy nr 1.Make Russia great again,main Russia target is to rebuild USSR,thay are very succesfoul ,agreement between Turkey ,Iran Russa has been signed
And initial military agreement between China and Russia.All his antiabortion and torturing talks,calling EU nations to exit EU etc.Sorry but nobody will see USA like responsible patner
It doesnt looks good to me

South Park

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Quote from: Bit-coin-expert on January 17, 2017, 12:25:46 PM

Have you guys been too www.usdebtclock.org recently? We are fastly approaching the the $20 Trillion in debt mark. 2 questions; will this information make the news and at what point does the dollar actually crash? Its been common knowledge that the dollar has lost 96% of its value since 1919 but what is it at right now 98% maybe 99% value gone? Just wanted to get your take.

please visit my blog bit-coin-expert.com

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"I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated Governments in the civilized world no longer a Government by free opinion, no longer a Government by conviction and the vote of the majority, but a Government by the opinion and duress of a small group of dominant men." -Woodrow Wilson

It will hit the news but the problem is no reaction is going to take place and I think this is because people have been hearing about this astronomical number for some time and nothing has happen that they have been conditioned to think the amount of debt does not matter, until it does, of course.

Sithara007

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Quote from: BillyBobZorton on January 27, 2017, 06:37:04 PM

Quote from: Kevin77 on January 27, 2017, 12:46:39 PM

If $20 trillion makes any panic among investors then that would be really a nice news for alternate investment opportunities. Gold and bitcoin will start flying from that for sure. But as per past histories, US government is known for bailing out themselves by simply printing the required amount of new currencies. So, personally I do not expect any big impact out of it.

We have already crossed $20 trillion dollar mark and the markets have not reacted yet:

http://www.usdebtclock.org/

It's ridiculous. No matter how high it goes, markets don't react to the insane debt, this means that it's going to explode all of a sudden, so let's see what happens during Trumps firs term.

Edit: Somehow we are back at $19.6 trillion

Right now, the debt is not exerting much pressure on the American economy. This is mainly due to two factors. First, the interest paid on this debt is very low, ranging from 0.7% to 3.0%. And secondly, a large part of the debt is owned by the American citizens and corporations.

criptix

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Quote from: neochiny on January 27, 2017, 07:06:43 PM

Quote from: Victorycoin on January 27, 2017, 03:13:17 PM

Quote from: Sithara007 on January 27, 2017, 12:50:33 PM

If there is a tariff on the Chinese goods, then either the people will purchase more American made goods, or they will continue to buy the Chinese goods (at an increased price). In both the cases, the US treasury is going to gain.

The thing to effectively resolve all that is to get the cost of production cheaper and I don't see the possibility of that. China parades cheap labour as well as cheaper electricity and then a devalued Yuan, all that culminates in making their exports quite attractive. Besides the best way to make indigenous companies more efficient is not by protecting them from external competitors, but by getting them to be more competitive.

Yep. I don't see any way Americans could make the cost of production cheaper than the Chinese.
Can't even imagine them working for the same wages that Chinese labor do. Shocked

How could the locals compete with the cheap imports? Quality isn't enough. Bank on the buyer's patriotism? Also not enough.

Like how all the trump supporters bought chinese/asian made "make america great again" cappies for 10$ instead of the american made one for 30$ on/for his inauguration day.

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Quote from: Victorycoin on January 27, 2017, 03:13:17 PM

Quote from: Sithara007 on January 27, 2017, 12:50:33 PM

If there is a tariff on the Chinese goods, then either the people will purchase more American made goods, or they will continue to buy the Chinese goods (at an increased price). In both the cases, the US treasury is going to gain.

The thing to effectively resolve all that is to get the cost of production cheaper and I don't see the possibility of that. China parades cheap labour as well as cheaper electricity and then a devalued Yuan, all that culminates in making their exports quite attractive. Besides the best way to make indigenous companies more efficient is not by protecting them from external competitors, but by getting them to be more competitive.

Yep. I don't see any way Americans could make the cost of production cheaper than the Chinese.
Can't even imagine them working for the same wages that Chinese labor do. Shocked

How could the locals compete with the cheap imports? Quality isn't enough. Bank on the buyer's patriotism? Also not enough.

BillyBobZorton

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Quote from: Kevin77 on January 27, 2017, 12:46:39 PM

If $20 trillion makes any panic among investors then that would be really a nice news for alternate investment opportunities. Gold and bitcoin will start flying from that for sure. But as per past histories, US government is known for bailing out themselves by simply printing the required amount of new currencies. So, personally I do not expect any big impact out of it.

We have already crossed $20 trillion dollar mark and the markets have not reacted yet:

http://www.usdebtclock.org/

It's ridiculous. No matter how high it goes, markets don't react to the insane debt, this means that it's going to explode all of a sudden, so let's see what happens during Trumps firs term.

Edit: Somehow we are back at $19.6 trillion

Victorycoin

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Quote from: Sithara007 on January 27, 2017, 12:50:33 PM

Quote from: Kakmakr on January 27, 2017, 01:21:57 AM

In theory, if the US economy improves and the salaries and wages for the locals increase, people will have enough disposable cash to buy better products. They currently buy cheap Chinese imports, because they cannot afford the better products.

Do not underestimate patriotism in the USA, people will pay $1 extra for something that has been manufactured locally. If imports of these goods are stopped, people will have no other option than buying the goods that are on offer.

Local manufactured goods, increase job opportunities and this puts more money into people's hands.

If there is a tariff on the Chinese goods, then either the people will purchase more American made goods, or they will continue to buy the Chinese goods (at an increased price). In both the cases, the US treasury is going to gain.

The thing to effectively resolve all that is to get the cost of production cheaper and I don't see the possibility of that. China parades cheap labour as well as cheaper electricity and then a devalued Yuan, all that culminates in making their exports quite attractive. Besides the best way to make indigenous companies more efficient is not by protecting them from external competitors, but by getting them to be more competitive.

thepo1m

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Quote from: Kakmakr on January 25, 2017, 01:33:47 AM

Trump already made some crucial moves to strengthen the US economy. He wants to depreciate the dollar and also reduce the dependency on exports for products and services that can be produced and rendered locally. We might see some drastic and controversial changes during his 4 years.

In his mind, the US subsidized and supported other countries and neglected their own country. He might create more jobs this way, and this might reduce debt. That is to say, if the consumers use this extra income to pay the debt, and not to spend more on fast food and cheap consumer goods.

I agree with you that US has been Big brothers to many counties at the expense of her own citizen but this is the work of the Globalist but I think reducing imported goods is going to make Dollar stronger.

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Quote from: BillyBobZorton on January 25, 2017, 07:16:37 AM

Quote from: Kakmakr on January 25, 2017, 01:33:47 AM

Trump already made some crucial moves to strengthen the US economy. He wants to depreciate the dollar and also reduce the dependency on exports for products and services that can be produced and rendered locally. We might see some drastic and controversial changes during his 4 years.

In his mind, the US subsidized and supported other countries and neglected their own country. He might create more jobs this way, and this might reduce debt. That is to say, if the consumers use this extra income to pay the debt, and not to spend more on fast food and cheap consumer goods.

It's not as easy as it seems. Sometimes you want to do something with good intentions and you end up delivering a big mess. Trump thinks reducing chinese impact on the economy is nothing but positives, but in a global market is not as easy.

Unfortunately in this system shitty mass produced crap like what the chinese does... sells very well and its hard to compete. I dont see how he can compete with US produced goods unless he start cutting US workers wages.

Globalization made Chinese a manufacturing powerhouse they are today. USA is to blame here, they wanted to to have the cheapest possible products and as result their economy is suffering today and debt is skyrocketing.
Trump is totally right, America needs to restore their local factories, businesses and industry first. Then try to halt debt progression, and maybe they will manage to slowly regress it then.

Sithara007

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Quote from: Kakmakr on January 27, 2017, 01:21:57 AM

In theory, if the US economy improves and the salaries and wages for the locals increase, people will have enough disposable cash to buy better products. They currently buy cheap Chinese imports, because they cannot afford the better products.

Do not underestimate patriotism in the USA, people will pay $1 extra for something that has been manufactured locally. If imports of these goods are stopped, people will have no other option than buying the goods that are on offer.

Local manufactured goods, increase job opportunities and this puts more money into people's hands.

If there is a tariff on the Chinese goods, then either the people will purchase more American made goods, or they will continue to buy the Chinese goods (at an increased price). In both the cases, the US treasury is going to gain.

Mandy420

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I own aproximatelly 168k to people I don't know Undecided

It really seems akward if you see it this way lol

Kevin77

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If $20 trillion makes any panic among investors then that would be really a nice news for alternate investment opportunities. Gold and bitcoin will start flying from that for sure. But as per past histories, US government is known for bailing out themselves by simply printing the required amount of new currencies. So, personally I do not expect any big impact out of it.

Victorycoin

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Quote from: BillyBobZorton on January 17, 2017, 01:10:08 PM

Quote from: p2607 on January 17, 2017, 01:06:40 PM

It has a high probability it will hit the news, this is a "milestone". Wink

It will hit the news, but nothing will be getting done about it. It will just hit the news and people will forget about it until 30 trillion dollars is reached, then they'll get it on the news again, they will forget, they will bring it back for 40 trillion dollars... and so on ad infinitum. There is nothing that's going to change. I wonder if the system can work as it is now under any amount of debt. People just seem to not give a fuck about it. Everyone acts as if there will never be any consequences.

Well the only change to expect is an increase in the size of the debt this time, four years because the so called civilization was built on a web of credit and that will never be fully settled. It is not something that is peculiar to America, but rather a global myriad of money creation out of thin air. To the community and the cryptoworld at large, that should be good news as that is actually one of the ills Bitcoin came to address in the first place. Much more persons are going to lose faith in their local currencies and come running to embrace Bitcoin and some altcoins and that would further boost the value of Bitcoin.

valta4065

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Quote from: Kakmakr on January 25, 2017, 01:33:47 AM

Trump already made some crucial moves to strengthen the US economy. He wants to depreciate the dollar and also reduce the dependency on exports for products and services that can be produced and rendered locally. We might see some drastic and controversial changes during his 4 years.

Gne? What had he done yet?

Quote

In his mind, the US subsidized and supported other countries and neglected their own country. He might create more jobs this way, and this might reduce debt. That is to say, if the consumers use this extra income to pay the debt, and not to spend more on fast food and cheap consumer goods.

Oh you mean how he destroyed thousands of jobs in a very immediate way by censuring scientific labs?
Yeah granted it was an immediate and radical change.
Not sure it was for the better though...

Kakmakr

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Quote from: BillyBobZorton on January 25, 2017, 07:16:37 AM

Quote from: Kakmakr on January 25, 2017, 01:33:47 AM

Trump already made some crucial moves to strengthen the US economy. He wants to depreciate the dollar and also reduce the dependency on exports for products and services that can be produced and rendered locally. We might see some drastic and controversial changes during his 4 years.

In his mind, the US subsidized and supported other countries and neglected their own country. He might create more jobs this way, and this might reduce debt. That is to say, if the consumers use this extra income to pay the debt, and not to spend more on fast food and cheap consumer goods.

It's not as easy as it seems. Sometimes you want to do something with good intentions and you end up delivering a big mess. Trump thinks reducing chinese impact on the economy is nothing but positives, but in a global market is not as easy.

Unfortunately in this system shitty mass produced crap like what the chinese does... sells very well and its hard to compete. I dont see how he can compete with US produced goods unless he start cutting US workers wages.

In theory, if the US economy improves and the salaries and wages for the locals increase, people will have enough disposable cash to buy better products. They currently buy cheap Chinese imports, because they cannot afford the better products.

Do not underestimate patriotism in the USA, people will pay $1 extra for something that has been manufactured locally. If imports of these goods are stopped, people will have no other option than buying the goods that are on offer.

Local manufactured goods, increase job opportunities and this puts more money into people's hands.

bryant.coleman

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Quote from: Kakmakr on January 25, 2017, 01:33:47 AM

Trump already made some crucial moves to strengthen the US economy. He wants to depreciate the dollar and also reduce the dependency on exports for products and services that can be produced and rendered locally. We might see some drastic and controversial changes during his 4 years.

In his mind, the US subsidized and supported other countries and neglected their own country. He might create more jobs this way, and this might reduce debt. That is to say, if the consumers use this extra income to pay the debt, and not to spend more on fast food and cheap consumer goods.

If he devalues the currency, then I don't think that it will go well with the creditors. Actually this is a strategy sometimes used by certain less reliable nations to reduce their total debt. First they will sell their debt in the national currency, and a few months later, the currency will undergo devaluation. The creditors will receive a negative ROI as a result of this.

BillyBobZorton

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Quote from: Kakmakr on January 25, 2017, 01:33:47 AM

Trump already made some crucial moves to strengthen the US economy. He wants to depreciate the dollar and also reduce the dependency on exports for products and services that can be produced and rendered locally. We might see some drastic and controversial changes during his 4 years.

In his mind, the US subsidized and supported other countries and neglected their own country. He might create more jobs this way, and this might reduce debt. That is to say, if the consumers use this extra income to pay the debt, and not to spend more on fast food and cheap consumer goods.

It's not as easy as it seems. Sometimes you want to do something with good intentions and you end up delivering a big mess. Trump thinks reducing chinese impact on the economy is nothing but positives, but in a global market is not as easy.

Unfortunately in this system shitty mass produced crap like what the chinese does... sells very well and its hard to compete. I dont see how he can compete with US produced goods unless he start cutting US workers wages.

Kakmakr

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Trump already made some crucial moves to strengthen the US economy. He wants to depreciate the dollar and also reduce the dependency on exports for products and services that can be produced and rendered locally. We might see some drastic and controversial changes during his 4 years.

In his mind, the US subsidized and supported other countries and neglected their own country. He might create more jobs this way, and this might reduce debt. That is to say, if the consumers use this extra income to pay the debt, and not to spend more on fast food and cheap consumer goods.

Sithara007

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Quote from: bitbunnny on January 24, 2017, 01:04:17 PM

USA will not default and their economy will not crash, politics just wouldn't allow that. But I don't think they will ever repay that debt either

The first part and second part of your post is contradictory to each other. If you don't repay your debt, it is called "default". The United States of America has never defaulted on loan repayments anytime in the recorded history.

Topic: US Debt at $19,959,943,400,000 will $20 trillion make the news? - page 4. (Read 4617 times)