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Should we start learning to speak Japanese (they are the biggest holders of our debt, according to this article)?

https://www.wlbt.com/2021/03/01/so-just ... lion-debt/


I guess Pearl Harbor taught us nothing.

Japan is too old to do anything. Half of their working population is caring for the aged. Since the war only a small percentage are having children.

A trillion here a trillion there, eventually you are talking real money. . . but we have the Modern Monetary Theory to print our way out of debt.

I have a Zimbabwe $1 hundred trillion dollar note. It reads like many others. ". . . Will pay the bearer on demand $1 hundred trillion dollars."

We're now nearing $29 TT, with $216BB now owed to India.

The US as a whole (and most of western world) is in denial, having heard the debt "sky is falling" mantra for too many years, and yet not seeing a penalty for the greed - thus the genesis of "modern monetary theory" which aims to prove without a doubt that one can print money to infinity without consequence.

Unfortunately they eventually will be found to be wrong in their theory, but by then (and we are already in that corner now, actually) there won't be anyway out of the "coffin corner" (to use test pilot vernacular from days gone by) except to cancel all debt and start over. Those holding the bag will be left penniless.

Wasn't long ago at all that fiscal conservatives were aghast at reaching $10T in debt. Then we blew by $20T, then $20T, and like you say are about to hit $30T. It will continue - until it can't.

Why have a debt ceiling at all? They never stick to it anyway. Let's just make it unlimited. Whether our debt is 30 trillion or 60 trillion it really doesn't make any difference. The only was we are getting out of this mess is with a reset so we can start over.

The more I think about this country, the more I think the founding fathers were wrong in drafting up the rules (US Constitution).
Notice there is no consequences for violating any of the rules. We just had Biden ignore a Supreme Court ruling on evictions and property owner's rights with no accountability.
We have representatives that don't give a damn what their constituents want, and vote in their own best interest.
We have let non elected entities create laws and rules, that ONLY elected officials should be making.
The founding fathers believed that people had morals, convictions and loyalty to this country and would be faithful to their allegiance and oath they took.
The USA is on the decline, "bread and circuses" seem to be in fashion. Greed is what drives most people, get the most for the least effort
A good read is the current best seller "American Marxism" by Mark Levin . Tells how we got to this point and if things do not change, we will soon be just another failed socialist country.
We all see what is happening and I have a feeling the vast majority is against it, but have been disenfranchised so unable to do much to stop it. I can only imagine what kind of country my grandchildren will live in. So very sad.

NDFarmer wrote:Why have a debt ceiling at all? They never stick to it anyway. Let's just make it unlimited. Whether our debt is 30 trillion or 60 trillion it really doesn't make any difference. The only was we are getting out of this mess is with a reset so we can start over.

Have to agree. I can only assume it had some merit (a debt ceiling) back at some point in time. A "check and balance" sometime before I was born or when I was little maybe. Its just been a lame bartering chip since I ever followed politics. Theoretically we could fix this issue but the population was conditioned to not understand its even a possibility of being an issue. My youngest brother moved up to run a bank or banking group I guess? He has many under his purview. Talked to him before and after trump. Even though every metric I had brought up with him that trump focused on moved the way trump thought it would and against what the "experts" told us, he had a whole reality built out of half truths and feelings to support how trump was still wrong. Low wage exploitable brown people make the country stronger and if you disagree about our NEED to exploit the lessers you ARE RACIST!!!!!!

As far as japan or china or others owning trillions of our debt. I think this matters less then it ever did. I dont track this stat or anything but by faint memory I think in nominal dollars they have owned similar amounts for decades now. Which is a drastically lower % of the total of debt we now have.

I dont see how it ends any other way than either us inflating out of the issue (which obviously has its own issues) or just crashing it all and starting over. Im kinda surprised it lasted as long as it has. We had our triple AAA credit rating called into question years ago. With media and politicians running defense and insisting this was in error and it was eventually reversed I guess since I never heard of it since. Im not going to assume how long tptb can keep it going though. Might be a good while especially since we are somehow the worlds reserve currency. A position we havent deserved for a good while imo since we lived on debt for so long, and heck in the 90s they spent most of the SS funds on top of it and pretended they balanced the budget lol. Both parties bragged about balancing the budget back then but it literally came nowhere close to happening. Any of you planning to rely on SS or even a retirement based on the markets should think of new income streams imo.

Treetop wrote: Any of you planning to rely on SS or even a retirement based on the markets should think of new income streams imo.

In addition to no SS payments after that goes bankrupt in just a few years there will also be no Medicare. So you should be prepared to pay the huge health insurance premium that you are paying now for the rest of your life.

Americans defending liberty and freedom with guns are not terrorists. Any person, government entity, or organization that disagrees is a terrorist.

They have already predefined "terrorist" to include all those Americans who would defend liberty. All they have done is ensure civil war.