ngl, I just saw a video on the Greek debt crisis and...

[Ezra]

Countries want to hold USD because this nation is seen as safe, strong and economically vibrant. The US has never defaulted on a payment and the consumer base is strong. However, the use of the USD is also because there are no better alternatives. If and once a better alternative comes out, then there is no business case for a foreign nation to hold USD anymore. That money will come back if countries cut their holdings dramatically.

That money is held in bonds. It's not like foreign nations are just gonna empty their piggy bank and buy shyt in our economy artificially increasing the money supply.

There implications if the Yen becomes the reserve currency, but it's not going to be an influx of US dollars in this country resulting in inflation.

 

[GnauzBookOfRhymes]

most of these dudes just want to be able to cheerlead the far left printing a bunch of free stuff, in the moment. so they lie to themselves that the US can just do this forever even though it cannot. our national debt is a fukkin ponzi scheme

it's all gonna collapse on someone's grandkids i give it about 80 years. but i only need about 40

not really creh

you know me, i have no problem calling the left out. but this is in fact just a silly scare tactic.

we are inexorably on a path towards a more social market style of capitalism. it's for the best. income taxes rates must be raised, tax evasion dealt with more seriously and social security/medicare taxes applied to income up to 1 million. That's all that's necessary.

 

[the cac mamba]

not really creh

you know me, i have no problem calling the left out. but this is in fact just a silly scare tactic.

we are inexorably on a path towards a more social market style of capitalism. it's for the best. income taxes rates must be raised, tax evasion dealt with more seriously and social security/medicare taxes applied to income up to 1 million. That's all that's necessary.

im just joking about the left. leave the politics out if it, or blame it on the republicans

but this monetary system/debt WILL collapse some day this is just basic human history. every empire fails. this country hasn't even been the top dog for 100 years

we'll get ours at some point but i highly doubt any of us wil be around to see it

 

[GnauzBookOfRhymes]

im just joking about the left. leave the politics out if it, or blame it on the republicans

but this monetary system/debt WILL collapse some day this is just basic human history. every empire fails. this country hasn't even been the top dog for 100 years

we'll get ours at some point but i highly doubt any of us wil be around to see it

As crazy as things seem, it's actually infinitely more "stable" than even in recent past. WW2 showed nations that total war just doesn't make sense. And our interdependence makes it so that the rest of the world is also invested in preventing catastrophic collapses in major nations. Think about it. If tomorrow we found out that everything we thought we knew about the German economy was fake, it's not like the rest of the world is going to be like "fuk em" and just let it disintegrate. We will figure some shyt out. The shyt that actually worries me are INTERNAL social/cultural/political issues. Debt doesn't mean shyt when it comes to debtors like the US govt.

Remember.

If you owe a bank 1,000 dollars, the bank owns you.

If you owe a bank 1,000,000, you own the bank.

 

[☑︎#VoteDemocrat]

most of these dudes just want to be able to cheerlead the far left printing a bunch of free stuff, in the moment. so they lie to themselves that the US can just do this forever even though it cannot. our national debt is a fukkin ponzi scheme

it's all gonna collapse on someone's grandkids i give it about 80 years. but i only need about 40

says the guy who supported Bernie Sanders.

 

[mykey]

"Everybody has a great plan till they get punched in the mouth"-Iron Mike Tyson.

This is the progression of the German Reichsmark from the end of WW1...

To 1923, when people needed wheelbarrows of money to buy a loaf of bread. The worthless currency was used as fuel for their stoves, wallpaper and toilet roll.

Can someone logically tell me what would happen when the world loses confidence in the unsustainable US debt and stops trading in US $??

Don't forget unfunded liabilities (pensions, social security, sub-national debt, etc) are a staggering $300 TRILLION.

Don't forget, the Saudis will soon start trading their oil in PetroYuan. Will Saudi Arabia Ditch The U.S. For Russia And China? | OilPrice.com

If things don't change, these will be the scenes in the streets of New York City..

 

[Ezra]

"Everybody has a great plan till they get punched in the mouth"-Iron Mike Tyson.

This is the progression of the German Reichsmark from the end of WW1...

To 1923, when people needed wheelbarrows of money to buy a loaf of bread. The worthless currency was used as fuel for their stoves, wallpaper and toilet roll.

Can someone logically tell me what would happen when the world loses confidence in the unsustainable US debt and stops trading in US $??

Don't forget unfunded liabilities (pensions, social security, sub-national debt, etc) are a staggering $300 TRILLION.

Don't forget, the Saudis will soon start trading their oil in PetroYuan. Will Saudi Arabia Ditch The U.S. For Russia And China? | OilPrice.com

If things don't change, these will be the scenes in the streets of New York City..

.



If anyone tries to compare Greece's situation to the US or the Weimar Republic, a popular one for the libertarian types, you can go ahead and stop paying attention to them. They dont know what they're talking about.

)

 

[the cac mamba]

says the guy who supported Bernie Sanders.

that's what happens when one candidate buys off a primary, 8 years in advance. and what should be a standard 20-choice primary, is really a predetermined farce where there are only two "choices"

hopefully not a mistake that will be repeated by the DNC in 24

 

[88m3]

can't themselves

 

[Ezra]

that's what happens when one candidate buys off a primary, 8 years in advance. and what should be a standard 20-choice primary, is really a predetermined farce where there are only two "choices"

hopefully not a mistake that will be repeated by the DNC in 24

A 20 person primary would be awful. Having someone win w 28% of the vote is not the way to go. We need rank choice voting.

 

[the cac mamba]

A 20 person primary would be awful. Having someone win w 28% of the vote is not the way to go. We need rank choice voting.

that's what we have every year besides 2016. we just had 20 people run in 2020. im sure it was similar in 08 and 04

i mean i agree with you, im all for maxing it out at 10 or something. it obviously doesnt help anyone. except i guess kamala got VP off her 2 percent