Poster Comment:
If we had a non-interest bearing currency like Lincoln's Greenbacks, there would be no $22 trillion debt and no interest of $535 billion a year on that debt. Notice that even without the Trump tax cuts, we were headed that way anyway. Our problem is the total amount of debt.
#1: Prefrontal Vortex To: Horse (#0)
Prefrontal Vortex posted on 2019-07-23 22:31:34 Reply Private Reply
#2: ghostdogtxn To: Prefrontal Vortex (#1)
ghostdogtxn posted on 2019-07-24 10:42:09 Reply Private Reply
#3: BTP Holdings To: ghostdogtxn (#2)
CONgress has the power to cancel the debt by minting a coin with a face value that equals the debt. But they would never do it. ;)
BTP Holdings posted on 2019-07-24 11:08:20 Reply Private Reply
#4: Cynicom To: ghostdogtxn (#2)
Realist...The national debt CANNOT be repaid, will NEVER be paid.
As a realist, starting with that admission and acceptance, there are but two possible days of reckoning.
Cynicom posted on 2019-07-24 11:15:49 Reply Private Reply
#5: BTP Holdings To: Cynicom (#4)
China has already started selling it U.S. debt into the secondary markets. When those chickens come home to roost it will cause massive inflation.
Even though Xi has called Trump and wants to make a deal, I do not believe that will happen.
Businesses in China have already started to flee the country for other areas such as Malaysia and Vietnam. They have said the cost of opening a manufacturing facility in the U.S. is prohibitive. ;)
BTP Holdings posted on 2019-07-24 11:28:11 Reply Private Reply