Seattle Socialists Strangle Golden Goose

[Zlaxer]

$29trillion in debt can support a lot of otherwise unviable "families".

Not when that 29 Trillion is not worth the paper it's printed on.

Dollars still being accepted everywhere I shop.
Seems like oil is still priced with them.
/shrug

Yeah, but for how long DB? 20 years at best IMHO - probably will collapse sooner.

[TheOneX]

Not when that 29 Trillion is not worth the paper it's printed on.

Dollars still being accepted everywhere I shop.
Seems like oil is still priced with them.
/shrug

Yeah, but for how long DB? 20 years at best IMHO - probably will collapse sooner.

Only an internal collapse of the US will cause the dollar to collapse. As long as we are able to hold things together internally, the dollar will still be used. Economically and politically China is peaking, if they are not able to change things now, they will not be able to within my lifetime. The only entity with the economic and political influence to push that kind of change is the EU, and they do not have the political willpower.

[Smitty-48]

Not when that 29 Trillion is not worth the paper it's printed on.

Dollars still being accepted everywhere I shop.
Seems like oil is still priced with them.
/shrug

Yeah, but for how long DB? 20 years at best IMHO - probably will collapse sooner.

the dollar is just an IOU to spend in the US economy

saying that the dollar is going to collapse means you think the US economy is going to collapse

as if America is Zimbabwe

the danger in America is more like interest rates rising sharply because the bond markets demand more

from perhaps an inflation crisis similar to the 1970s, inducing a severe recession

but total collapse of the US economy into a black hole in less than twenty years ?

seems a bit overly pessimistic

[Zlaxer]

Dollars still being accepted everywhere I shop.
Seems like oil is still priced with them.
/shrug

Yeah, but for how long DB? 20 years at best IMHO - probably will collapse sooner.

the dollar is just an IOU to spend in the US economy

saying that the dollar is going to collapse means you think the US economy is going to collapse

as if America is Zimbabwe

the danger in America is more like interest rates rising sharply because the bond markets demand more

from perhaps an inflation crisis similar to the 1970s, inducing a severe recession

but total collapse of the US economy into a black hole in less than twenty years ?

seems a bit overly pessimistic

So you're saying the Fed Gov can pay it's interest on the debt if interest rates go up? Tell me more.

[Haumana]

Yeah, but for how long DB? 20 years at best IMHO - probably will collapse sooner.

the dollar is just an IOU to spend in the US economy

saying that the dollar is going to collapse means you think the US economy is going to collapse

as if America is Zimbabwe

the danger in America is more like interest rates rising sharply because the bond markets demand more

from perhaps an inflation crisis similar to the 1970s, inducing a severe recession

but total collapse of the US economy into a black hole in less than twenty years ?

seems a bit overly pessimistic

So you're saying the Fed Gov can pay it's interest on the debt if interest rates go up? Tell me more.

Pay to whom? Who is coming to collect?

[Smitty-48]

So you're saying the Fed Gov can pay it's interest on the debt if interest rates go up? Tell me more.

ah, but the bond markets would not stop buying American debt

the bond markets will just charge more interest

then that will be passed through to you, the American people, primarily in your mortgages

now, that would probably cause some shit to fly

but not like Mad Max world, it would just be a brutal recession

that might actually be a good thing, since the politics would get more serious as a result

so long as you in the current free money party, it's gonna be silly season like the Woke n' shit

[Smitty-48]

Pay to whom? Who is coming to collect?

these America disappearing into a black hole scenarios are not that realistic

America has a vastly greater chance of being obliterated in an accidental nuclear war

in terms of financial & economic crises, you're really just looking at a reckoning

America can't afford to pay for everything America promised to pay for, so America has to break the promises

so like Social Security for example, that might have to go away

the government would have to make big cuts to spending across the board

it's not so much that the debt has to be paid back all at once

it's more that the capacity to borrow at the current rate would hit a hard ceiling

now that would cause a severe shock to the current regime, probably cause some big changes

but it would sort itself out over time, America would not disappear into a black hole

[Haumana]

Pay to whom? Who is coming to collect?

these America disappearing into a black hole scenarios are not that realistic

America has a vastly greater chance of being obliterated in an accidental nuclear war

in terms of financial & economic crises, you're really just looking at a reckoning

America can't afford to pay for everything America promised to pay for, so America has to break the promises

so like Social Security for example, that might have to go away

the government would have to make big cuts to spending across the board

it's not so much that the debt has to be paid back all at once

it's more that the capacity to borrow at the current rate would hit a hard ceiling

now that would cause a severe shock to the current regime, probably cause some big changes

but it would sort itself out over time, America would not disappear into a black hole

It won't be any particular thing. It is gonna be US slowly severing off parts of Paul to pay Peter who all really only exist in some club that we have no privy to. They ain't in my hood. That much I know for certain.

[Smitty-48]

Pay to whom? Who is coming to collect?

these America disappearing into a black hole scenarios are not that realistic

America has a vastly greater chance of being obliterated in an accidental nuclear war

in terms of financial & economic crises, you're really just looking at a reckoning

America can't afford to pay for everything America promised to pay for, so America has to break the promises

so like Social Security for example, that might have to go away

the government would have to make big cuts to spending across the board

it's not so much that the debt has to be paid back all at once

it's more that the capacity to borrow at the current rate would hit a hard ceiling

now that would cause a severe shock to the current regime, probably cause some big changes

but it would sort itself out over time, America would not disappear into a black hole

It won't be any particular thing.

well, in terms of an existential threat, I think it would be

the only existential threat to America remains at 15 minutes notice to launch on warning, DEFCON 1

otherwise I would expect America to remain a large and powerful economy into the distant future

I don't foresee a collapse, just a reckoning, the end of the free money, the return of expensive money

[Haumana]

these America disappearing into a black hole scenarios are not that realistic

America has a vastly greater chance of being obliterated in an accidental nuclear war

in terms of financial & economic crises, you're really just looking at a reckoning

America can't afford to pay for everything America promised to pay for, so America has to break the promises

so like Social Security for example, that might have to go away

the government would have to make big cuts to spending across the board

it's not so much that the debt has to be paid back all at once

it's more that the capacity to borrow at the current rate would hit a hard ceiling

now that would cause a severe shock to the current regime, probably cause some big changes

but it would sort itself out over time, America would not disappear into a black hole

It won't be any particular thing.

well, in terms of an existential threat, I think it would be

the only existential threat to America remains at 15 minutes notice to launch on warning, DEFCON 1

otherwise I would expect America to remain a large and powerful economy into the distant future

I don't foresee a collapse, just a reckoning, the end of the free money, the return of expensive money

That is the crux of my question. Who really wants to come and take the big boy global pants? Who is gonna be HNIC and take all the arrows that come with that? I don't see anyone busting down the doors anytime soon either.

I welcome the reckoning by the way. Bitches been getting lazy and too demanding. Time they remember the hard times.