i thought we were going to doge that bullet
Eh the media is already pretending Trump’s Biggest Tax In History will be turned into a cash funnel to pay down the debt. When in reality not a single dollar will flow there. The media is back to being totally complicit.
You did … by leaning into it and letting it hit you square in the chest … don’t worry the internal bleeding is slow, you’ll just slowly fall asleep and never wake up again.
Pun is warranted and acceptable. Thank you
The secret is Trump will debase our currency to the point where a hotdog stand charges a million dollars for a can of soda. Then our debt will be relatively meaningless and easy to pay off.
“300 buys you a sandwich.”
Quite possibly a view into our future. Let’s hope the end of Nick Offerman’s performance is prescient.
Then our debt will be relatively meaningless and easy to pay off.
Not that we would.
all this really benefits putin, if usa is weakened economically, and constantly infighting, they wont have a chance of defending russians goals of expansions.
Not if he keeps massively increasing the deficit it won’t be.
I really hate that so much in US politics right now reminds me of 1930’s Germany
it also originated in america too. before nazi was the kkk, and the nazis used our segregation laws to implement thier own.
It doesn’t even mean anything, it’s never being paid back.
That’s what a conman as leader of your country will get you. Fired half the government workforce, still spent more money than the last guy and he’s only been in office for 6 months. It only goes down from here folks, hope you enjoyed the ride. This is your last stop.
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WE’RE NUMBER ONE! (…in debt).
USA UsA usaUAS … were the greatest!
So far…
I still waiting for the damn “trickle down economics“ that Reagan PROMISED!
If America paid attention to its own history Reagan would be remembered as the worst president
Second worst now, imo
Maybe third, Jackson was really fucking bad
An America that learns from Reagan would never have elected Trump
Yes, no argument here. I know Reagan holds a lot of responsibility for the prep, but i think trump is still worse
There is really a lot of competition for that spot.
It was ruled in court to be illegal in 1919 in the Dodge vs Ford lawsuit.
At the time, Ford himself wanted to: “My ambition is to employ still more men, to spread the benefits of this industrial system to the greatest possible number, to help them build up their lives and their homes. To do this we are putting the greatest share of our profits back in the business.”
But shareholders (both Dodge brothers of the Dodge car company) sued against this and in the end the judge declared that: “A business corporation is organized and carried on primarily for the profit of the stockholders. The powers of the directors are to be employed for that end. The discretion of directors is to be exercised in the choice of means to attain that end and does not extend to a change in the end itself, to the reduction of profits or to the nondistribution of profits among stockholders in order to devote them to other purposes.”
Basically, if you attempted trickle down economics, you’d be “stealing” from the shareholders. Extra money is to be given to shareholders as dividends, not for boosting the pay of your employees if it doesn’t involve adding more profits to the bottom line.
literally meaningless to me. i couldn’t care less. money is fake and nobody is ever going to do shit about the debt. who? tell me who is going to do what and without any devastating worldwide consequence?
we can owe $6 quintillion and it won’t mean shit we will print and print and borrow and borrow and so will every other country.
Having large debt matters for how expensive access to cash is. No matter how “fake” it is, the financial system puts a premium on how long it takes to get their lent money back. The longer it’s stuck, the worse the reputation of getting it back, or simply the higher the demand — the higher the premium.
And as you need cash to make payments for goods and services (as opposed to tax rebates) that has the effect that US tax dollars and investments have lower rate of return as sufficient cash gets more expensive.
Another part is that the debt will be taken out in some form, e.g. foreign currency, making that currency more available for cash transactions (while at the same time making yours’ less available due to being locked into what you needed it for). This shifts trade away from USD, which makes it much harder to influence/control what it’s used for, how much it’s worth, and harder to make people care how much of it there is.
As the world trades in something besides USD and/or avoids investing in the US due to high costs/volatility, the US gets less relevant/influential in global policy, diplomacy, business, investments and even domestic policy.
It’s possible that other countries might start calling us on the debt, if we borrow faster than we lend, or faster than inflation.
Countries don’t have credit ratings in the same way Americans do, but they still have ratings on their bonds. If those ratings get downgraded, people stop lending us money, and then everything crashes and burns.
Most of our debt is domestically owned, though.
The same process still applies, though. Domestic lenders can also drive the rates up by refusing to lend.
Our ratings HAVE been downgraded, and it’s only going to get worse
i mean “it’s possible” and likely are two separate things. we all owe each other money. who is collecting from whom that doesn’t owe some other nation?
It’s a modern day religion … it’s a faith based system
It works and functions and is all powerful because enough people believe in it and hold all their faith in it … it’s faith and belief that make it work
But it’s also the Achilles heel of the whole system … if enough people in the whole system stop believing in it … it all collapses in on itself and it is destroyed and evaporates instantly.
This analogy is very apt. I stopped giving money (and wealth in general) power over my emotional state. I only care about making rent and many of my recent luxuries are buying independent art like games and music as well as local shops.
Turns out, if you stop wanting all the time, you also stop consuming.
Calm down there Siddhartha… /s
It was my introduction to Taoism that helped.
I had to consciously do this as well. It’s one of those journeys that makes me want to annoy people by talking in circular little one-liners like a monk or Yoda. It also revealed to me just how much my more conservative family members obsess over the money or the stuff that other people have.
It also turns out, similar to what you said, is that the way to get enough “stuff” in your life is not to acquire all the stuff. That will never work. The way to get enough stuff in your life is to simply stop caring about getting more stuff.
And make no mistake, I DO like my stuff! I have actually spent a considerable amount of money on material possessions in the past month. I have also been daydreaming about what kind of car I’ll get next. (disclaimer for my c/fuckcars friends, I live in low density suburban USA bordering rural areas; I’m gonna have a car forever)
But, they aren’t mindless consumption. The purchases are to support my hobbies that make my life/brain/health better. I have been building my collection of high quality tools because one major hobby of mine that required some construction has inspired an offshoot hobby of woodworking. The dopamine hit from buying something new and shiny is still there, but with my learning and planning coupled with the positive effect of having something to look forward to, not to mention it gets me outside and moving heavy stuff around, I have had no regrets and am getting the desired benefit.
I mentioned the car because, like the tools, it is a catalyst to enhance something I enjoy. It is not a status symbol or collectible. In my case, I have always enjoyed the dynamics of driving and I had manual transmissions in my first three cars which I do not have now. And my drive to work is a couple miles of twisty semi-rural road. I think I want a roadster.
… it’s faith and belief that make it work
But it’s also the Achilles heel of the whole system … if enough people in the whole system stop believing in it … it all collapses in on itself and it is destroyed and evaporates instantly.
Just like the US Constitution.
So is the rest of our consensus reality…
“Conservative” fiscal “responsibility”
I don’t know who was expecting it to take a trillion years, you can go 37$ in debt at the Taco Bell drive through
You fat bro.
A single combo is nearly $20.
…at Taco Bell? Nah
Order a number 6, but you better be packing a Jefferson.
As long as you’re out can you get me a beef and bean burrito?
Who is upvoting this? Taco Bell is the only fast food place left where this isn’t true.
Your comment is also not true.
Jesus wept. Those are prices for a modest sit-down restaurant meal.
Yeah. I’m not saying they’re good prices. It is definitely why one should skip and just go to a sit down restaurant OR just cook your own stuff.
The euro, pound, and Swiss franc are each worth more than a US dollar.
Fucking Democracts not paying the debt down.
- Republicans
Witnessing the supreme white economy before your very eyes
Solution: sacrifice the richest people until their wealth adds up to $37 trillion and maybe a few more rich people just for extra security
Just for fun I did the math on this and if the total net worth of the US is about $120 trillion, you’d have to erase anyone with more than about $12 million in assets to pay off the national debt.
Doesn’t sound so bad
The solution is to stop trading oil in USD then nobody will want it anymore
the title from Newsweek is so poorly written
The debt didn’t reach $37 just a trillion years early?
I initially parsed it as “the US reached 37 billion years before…” like it was a sci-fi apocalyptic piece set in the far future
He is a smart business man, that is impossible
