$34 Trillion National Debt is a Ponzi Scheme
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The $34 TRILLION U.S. debt is nothing other than a stupendously gigantic Ponzi scheme
all other Ponzi schemes will eventually have to collapse
but not this one
because lenders know that the U.S. Government will always be able to borrow more money to pay them back
it's really kinna comical when you think about it
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I wonder how long I could do a personal Ponzi scheme
how long could I keep borrowing money, buying more and more, and paying off only the smallish monthly bills with money I borrowed_________?
I think I could do it for a very, very long time
my credit score would be A1 - I'm always paying my bills on time
eventually when I owe maybe half a million $ they're going to say no more
oh, my, my my - that's going to be really bad
Oh, no, I'll have to declare bankruptcy
and it's going to be really, really hard
because then I can only buy with cash for 7 years__________right__________?_____________poor, poor little me
and as far as I know I get to keep all of that luxurious merchandise I bought__________right__________?
sounds like a pretty good deal_____________________(-:/
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and as far as I know I get to keep all of that luxurious merchandise I bought__________right__________?
You'd have to hide it to keep it. If you bought houses, cars and other such items, they're going to be pretty hard to hide. The bankruptcy trustee will liquidate whatever assets they can find to repay your creditors.
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I'm unhappy with my OP because I didn't really make it clear why the National Debt is a Ponzi scheme
each and every year the Feds borrow gigantic sums of money
they then use the money they just borrowed to pay off creditors
that is exactly how a typical Ponzi scheme operates
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This is laughably oversimplifying one part a complex issue and interpretating in a way as if its the entire purpose to make a greater point. The nat debt also gives leverage for the govt to fund much needed programs, short term like emergencies and longer term programs like UBI when the robots do all the work.
Also the total debt to US equity is lower than it's been since 2008 and I would assume that if we had more money now to pay off the debt than in the previous 15 years, that would think that it be a good thing?
We could pay off the entire debt right now if we wanted to, but doing so would ut an end to a lot of the reasons why having debt can be helpful. Which is why we don't because we acutally have smart people who understand how this stuff works.
So I'm wrong??? Well, I guess there's a first for everything.
This is laughably oversimplifying one part a complex issue and interpretating in a way as if its the entire purpose to make a greater point. The nat debt also gives leverage for the govt to fund much needed programs, short term like emergencies and longer term programs like UBI when the robots do all the work.
Also the total debt to US equity is lower than it's been since 2008 and I would assume that if we had more money now to pay off the debt than in the previous 15 years, that would think t
so I think you're saying that a $34 trillion national debt is a good thing
that it's a proper way to manage money
that there's no negative side to it
so, how about if the debt goes up to $99 trillion in 5 years - is that okay too________?
how about $930 trillion if 15 years
how do you determine when there is too much debt_______?
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so I think you're saying that a $34 trillion national debt is a good thing
that it's a proper way to manage money
that there's no negative side to it
so, how about if the debt goes up to $99 trillion in 5 years - is that okay too________?
how about $930 trillion if 15 years
how do you determine when there is too much debt_______?
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Where does he say that ?
Inflation .
Low gdp growth
High interest rates are symptoms of it .
Doesn’t mean those factors are from only high government debts but it’s a result of it in many cases .
Tax cuts
so I think you're saying that a $34 trillion national debt is a good thing
that it's a proper way to manage money
that there's no negative side to it
so, how about if the debt goes up to $99 trillion in 5 years - is that okay too________?
how about $930 trillion if 15 years
how do you determine when there is too much debt_______?
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Jumper, I don't know what level your on or if this is in good faith but if I owe someone $34 and I have $100, am I worse off than if I owed that person $340 but had $1000?
If you want to make the claim, for example, that a lower debt/lower GDP economy would be better, maybe in the belief that saving on interest payments and increasing stability and limiting access to capital would be a good thing for the economy, and the country, and the world, then argue something specific like that.
Because arguing one line on a balance sheet while ignoring everything else simply doesn't make any sense. But it makes for a great talking point for people who aren't familiarized with how things work.
