You are not signed on; if you are a visitor please register for a free account!
|The Market Ticker Single Post Display (Show in context)||
User: Not logged on
|User Info||No, GDP Did *NOT* Advance; entered at 2018-10-07 10:41:54|
Registered: 2014-05-19 Chic
when you point out that the US never pays off the debt, a phrase was coined back in the 2008 crisis that covers that:|
extend and pretend
between new debt and rollovers its one hell of a load.
Thankfully our creditors are more than happy to cover us, err, do they really?
when our debt increase just at federal level passes 2 trillion perhaps someone in the spotlight will pose the question of just who is capable, even if they wanted to, to fund our debt increases.
How would you like to be the auctioneer to sell the US property such as Grand Canyon?
Or the US can take over farmland and use that as collateral. The US does purportedly have 350 billion of gold at current prices.
Remember pre 1971 when trade deficits were settled in gold? Thts when Nixon stiffed France. With a $750 billion trade deficit we would need 16000 tons of gold at current price just to settle one annual trade deficit.
If I ran my household budget like the US runs its budget...rememebr the movie 'Dave" where "Murray the Accountant" was called in to help balance the budget. Now recall how McCabe formerly FBI bought at 70k conference room table.
We need a turnaround "artist".