US Debt Has Exploded - page 12. | Bitcointalksearch.org

Yakamoto

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Quote from: virtualx on December 11, 2015, 03:06:18 PM

Quote from: tyz on December 11, 2015, 02:49:18 PM

Not only the debt of the United States. Look around the world. The debts are exploding everywhere. Europe, China, Japan, Russia, Latin America, even in the Arabic states like Saudi Arabia.
There is no way out of this development.

Debts everywhere. Sustainable or house of cards?

House of cards.

Unless you are interested in having a cup of coffee costing $30 in the future and realizing that any pay you get now will have very little value in the future, there is no way that countries can maintain a level of sustainable debt.

There is no way it can continue to be propped up for lengthy periods of time.

When a piece of paper has given value that only shrinks over time, there will eventually be many people who will question why it is worth doing anything now.

virtualx

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LOTEO

Quote from: tyz on December 11, 2015, 02:49:18 PM

Not only the debt of the United States. Look around the world. The debts are exploding everywhere. Europe, China, Japan, Russia, Latin America, even in the Arabic states like Saudi Arabia.
There is no way out of this development.

Debts everywhere. Sustainable or house of cards?

OROBTC

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...

jaysabi

And those debt numbers are JUST the officially acknowledged US National Debt. Depending on whose numbers you believe, those debts (inc. unfunded liabilities) could be from $80 trillion to $220 trillion.

If the FED raises rates this month, the interest rates will cause our debts to rise even faster. Ugh.

* * *

callynyan

I don't about non-holders of BTC and gold becoming GHOULS, but point taken.

Both BTC and gold are excellent diversification vs. .gov malfeasance.

EDIT: You got it spazzdla, they are coming for whatever "Easy Money" they can steal. I cashed in my IRA (a USA pension scheme) in 2008.

spazzdla

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Quote from: callynyan on December 11, 2015, 02:53:02 PM

Buy bitcoin and gold.
They are the best vaults to survive the fallout.
People that did not buy bitcoin or gold will turn into ghouls!

The pigs will come for your money, hide it.

callynyan

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Buy bitcoin and gold.
They are the best vaults to survive the fallout.
People that did not buy bitcoin or gold will turn into ghouls!

tyz

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Not only the debt of the United States. Look around the world. The debts are exploding everywhere. Europe, China, Japan, Russia, Latin America, even in the Arabic states like Saudi Arabia.
There is no way out of this development.

Amph

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Activity: 3248

Merit: 1070

this should encourage more, the people to invest in bitcoin, and help growing an alternative way to the plague that was/still is our conventional money system

trusting fiat at present is more dangerous than investing in bitcoin, numerous case of money lost due to banks playing with people money

there was a case of a bank(here) suggesting to an old man to invest in a low risk investment that then is become a heavy risk one, and he lost 100k in euro, he commited suicide by hanging

jaysabi

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★777Coin.com★ Fun BTC Casino!

First 224 years of existence: 5.674 trillion dollars
Next 8 Bush years: 4.350 trillion dollars
Next 7 Obama years: 8.126 trillion dollars

Compare what we've done in the last 15 years to what we did in the first 224 years. We've more than tripled in the last 15 years what it took 224 years to accumulate in debt.

To be lazy and use stereotypes, democrats spend too much and republicans tax too little. The truth is that both parties spend too much and tax too little. The current war spending is not sustainable. The current tax rates are not sustainable. Social Security and Medicaid are about to explode in expenditures. You simply cannot cut this level of debt by only cutting spending or only raising taxes. It will take substantial efforts on both ends to put things in order, and then it will take disciplined restraint and political will to stay on course over several decades to begin to fix this process.

Frankly, our politicians are not up to the challenge. Their incentive is re-election every 2 or 4 years, and this type of outlook is incompatible with the long-term approach necessary to fix what an utter mess the national finances have become.

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