Topic: When will the USA pay their debts, if ever? (Read 20979 times)

I think we`ve all had pretty crazy presidents in the past, we dont need another one.

Will never happen I think what will happen is one big massive bail out to fix things and sort problems out. But even then I doubt it will ever happen. It will be a state that is so bad in debt will never abale to right its self and right now its not going to happen. Only time when debit will get fixed if prices come down on 90% of everything in US and people get to pay their debit off as they have money to do so. If the US had free health cover like in UK and Canada and a few other areas of the world it would make a massive impact as I know people had to have operations or stuff done at A&E and pay for their medical bill couldn't afford it and had to iver increase their mortgage or to even take a loan out to cover the medical bill and pay later.

Vote for me and ill guarantee to reduce everything to make your lives a lot simpler to live and be less costly. And as an added bonus I will make Bitcoin 100% legal and have debit cards as a standard for everone and to have ATM machines to cash out your Bitcoin or buy. Vote Crazy for President xD

It has tanked in 2014 but it could go up or down in 2015, likely up amha.

If US defaults on its government bonds, your pensioners have more than their pension to worry about: America, as they know it, is no moar



Protip for Bob:  Don't expose your retirement savings to high-yield (aka "JUNK") bonds, and stay away from bitcoin - it's tanking, bro.

No because average people also hold debt, look at the bond markets. Any household could buy bonds, retirement plans have bonds in the portfolio, and other types of investment funds (including corporations those shares are traded) invest in bonds.

If the debt market collapses, the bond market will also collapse, and average Bob will lose his pension, his investment, his house, his car, and his job( if the company that Bob was working at, has invested too much in those "low risk" bonds will go bankrupt).

Yes that is the reality my friend , every single person is exposed to the bond market, even the homeless guys on the street!

According to your friend, the other learned economist, the world owes its debt to central bankers.
You seem to disagree, suggesting that the world owes money to the world, and the world will stop lending the world money if the world doesn't pay its debt.
So why don't you explain to me how this is gonna work, and why Bob is going to foot the bill?
Who should the world pay its debt to?

If a country doesn't pay its debt, it get shut off from international debt markets. Since these countries anyway have a fiscal deficit, they have to raise taxes to pay for their expenditure. So I guess common Bob will be left holding the bill.

If Keynesianism worked how it is suppose to work then additional government spending would cause debt levels (in terms of percentage of GDP) to fall because the economy would grow at a faster pace (resulting in higher tax collections) then the amount of additional government spending

It doesn't inspire confidence in your argument that you provide no data to bolster your opinions and your counterargument to data presented against it is "global conspiracy" and "brainwashing." I'm sorry you mistook my critique of your argument for a defense of Keynesian economics. That's really unfortunate for you, since it isn't at all the case. You having a weak point doesn't make anyone who calls you out on it a Keynesian, but it was a valiant effort at misdirection.

lol - by your own map, the B in BRICS (Brazil) has almost as much debt (percentage) as the United States.  

(and I (India) is a very light green moving toward tan) 

So if the world owes money to [assorted central banks], and, according to the rocket surgeons here, this debt can never be paid, why is it that [assorted central banks] keep lending the world money?
Are they just real nice guys?
What happens if the world doesn't pay its debt?  Do the [assorted central banks] foreclose, shut off the lights sun, and the world ends?
Do you think [assorted central banks] will hire Dog the Bounty Hunter to collect this debt, or will they just keep letting the world slide?
Help me out here.

Man in what pink universe you live ?

Have you ever heard of fractional reserve banking? 0% Margin requirements? Your CB prints out money from thin air.

The reserve requirement in your own country is 0%, do you even grasp what this means?

http://www.federalreserve.gov/monetarypolicy/reservereq.htm

To whom well: mostly FED, IMF, World Bank, ECB, BOJ,RBNZ,RBA ..etc

They all hold huge amounts of debt, from across the world.

Most indebted countries, check
http://www.economicshelp.org/blog/774/economics/list-of-national-debt-by-country/

Public debt across the world (well well well BRICS has hardly any debt while the western world is crumbling)
http://upload.wikimedia.org/wikipedia/commons/thumb/3/35/Public_debt_percent_gdp_world_map.PNG/1280px-Public_debt_percent_gdp_world_map.PNG

"The world is in huge debt"?  May I ask to whom?  Or don't you think to ask stuff like that?

Ok i`m from Romania, actually if you`d go to my profile you`d actually see.

Well Keynesianism is more like a cult between central bankers rather than a sound monetary policy.

It only grows debt bubbles which pop out at every single crisis. Yes you could argue that stable prices and low price volatility might be improved by keynesianism, but overally its much worse, because now the world is in huge debt.
I think it's about 180 trillion $ global debt, i`m not sure about that number but its around that.

Ist that a sound policy to endebt everyone? Debt is the 21st century form of slavery, a house mortgage makes you only the bitch of your bank, but a national debt makes you the bitch of your government, see?

And of course any progress that has been made in the 0% interest booming era, will be wiped out in the depression era.

So in this way you have to restart the economy from square 1 after every single recession. The only thing that survives each depression is technology, other than that everything starts again from 0.

That is not a good economic policy, its the worst one in existence, i dont know what kind of special retard Keynes was, but I dont think he even grasped his own theory, how much damage can it cause throughout the world.

Brah, what country are you from?
I don't know what you mean by Keynesian propaganda, or if you have actually bothered to study economics, but if you think that USA is somehow more "Keynesian" than China, please explain WTF you're talking about.

Be specific

I like my country in general its a nice place in terms of natural beauty,good tourist place and nice women and pretty friendy people too, but the government is just evil and full of bandits and they increase taxes every quarter, so i`m really ashamed that i have a tyrant government.



Look here, The BRICS is having a booming economy weather you like it or not, they had and still have 3-8% gdp growth /year. Especially before the crisis.

China become from a 3rd world country the top 1 economy on the world (yes it surpassed the USA).

And i`m not a BRICS fanboy, to be clear, i`m just stating the facts here, so obviously the Keynesian propaganda with all these debt bubbles and low interest is not going to work out well in the world.

All BRICS nations will increase the interest rates, Russia just now increased it to 17%, man if the USA had to increase it to 17% they'd go bankrupt the minute after.

So of course hawkish good old Austrian economy works with gold-backed currency, only propagandists dont like to advertise it, even if the BRICS uses it, and gets good results with it, EU ,USA and other brainwashed countries and unions will just never learn.

Its funny as the USA had really good growth in the 50-70 with its gold standard, so why did they left it? Well, because the banks didnt made enough money.

It's just pure propaganda, and now the whole world will pay for it, because the next crisis will be devastating as back in 1929.

And the facts would be the inanity posted at mises.org, zerohedge, and stormfront, and other reputable sources?

So you know nothing about starting a business in USA or Somalia.  Protip:  Don't talk about shit you know nothing about.


Bro, you're not likely to fare well in a seedy neighborhood, forget about some lawless Wild West fantasy where they'd as soon shoot you as say howdy.


What godforsaken hellhole do you live in bro, and why are you so embarrassed to name it?   Are you having a hard time getting an exit visa?

Have you ever considered that that data was manipulated to brainwash people. After all it was given out by the world bank who has a really good record of manipulating people.

In India you have the soundest monetary policy in whole Asia, they have high interest rates, and keep inflation in check, they are not running a 0% interest rate 0% margin requirement franctional reserve ponzi scheme.

http://www.tradingeconomics.com/india/indicators

In Russia its a bit more complicated, but atleast they have small taxes.

I think you should check your facts friend because you have been really brainwashed by the Keynesian propaganda machine.

I`m in my late 20's and i`m from east europe. Is that an insult or what?

I dont know about your economic views but i know what is to live under a tyrranic regime, so i`m definitely agains these regulations and stupid propaganda manipulation tools.

I`ve never seen any economic boom in my life, mainly because statist regulation and tyrrany , so i`d much rather live under a regime that is totally free than to be enslaved by massive taxation.

In my country you pay ~80% taxes, and i definitely not like it. Do you wanna live in this kind of conditions? I dont think so?