The dangers of debt

[Bob]

I paid my fair share of the debt in taxes this year. F-em.

You are far from done.

[Peter1469]

You are far from done.

Yes, I will pay another outrageous amount next year. But when the clowns crash the economy and government, then no more taxes. At least for a while until grown ups can patch things up.

[Bob]

Yes, I will pay another outrageous amount next year. But when the clowns crash the economy and government, then no more taxes. At least for a while until grown ups can patch things up.

I wish I could say you are wrong. Honestly, I do wish you were wrong.

[Peter1469]

I wish I could say you are wrong. Honestly, I do wish you were wrong.

Me too. But numbers don't lie.

The only reason the US has gotten away with its level of debt is because the USD is the world reserve currency. That is changing. Once the USD is no longer the world currency (20-30 yrs IMO) think Wiemar Republic. And that assumes that we don't break the economy prior to that.

[Bob]

Me too. But numbers don't lie.

The only reason the US has gotten away with its level of debt is because the USD is the world reserve currency. That is changing. Once the USD is no longer the world currency (20-30 yrs IMO) think Wiemar Republic. And that assumes that we don't break the economy prior to that.

We are headed off the currency being the reserve. There are factors other than that which might cause our downfall. China is advancing very rapidly as we speak. The good thing is China still needs our market.

[Peter1469]

We are headed off the currency being the reserve. There are factors other than that which might cause our downfall. China is advancing very rapidly as we speak. The good thing is China still needs our market.

China is not an issue. They have plenty of problems of their own.