Government Content To Let The Debt Keep On Growing
The United States is trillions of dollars in debt and some mainstream economists say that it's something we shouldn't be worried about.
Just spend more they say, because the balance sheet doesn't matter.
That debt will eventually need to be paid back.
Or Will It?...
As well, the more pieces of paper that they print, the more they will dilute the value of those which are already circulating. If they print us into oblivion then this will only create the illusion of prosperity; the paper money will be continually worthless.
Ignoring the debt isn't a coherent solution to the problem.
What they need to do is drastically cut spending but there are no signs that this is going to take place anytime soon. We have seen what bad economic policies can do to a nation and it wouldn't be impossible for hyperinflation to potentially hit the U.S.
Some have insisted that maintaining 0% interest rates is the long-term solution to this mess, but all of that cheap money is what has continued to contribute to the problem. If you give people access to cheap money then you can bet that many of them are going to do foolish things with it and they most certainly have, prolonging this narrative is a death wish.
Through its policies the Federal Reserve manipulates and distorts the market, it isn't within the best interest of the people to advocate for more of that manipulation.
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@doitvoluntarily I am 50 years old and since I can always think so at least here in my country Argentina, they do not care about anything, total are those who have less those who suffer the consequences.
thank you very much dear friend for sharing this news
I wish you a great day
Infinite economic growth!
We need more money?
Debt = new money!
Hf
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😄😄 just keep printing
Nothing ever changed with fiat money. Just print more
it'll work..THIS time..😄
I used to agree... but i no longer agree with the assumptions.
With a fractional reserve lending system, the debt HAS TO grow by more than the principal and interest of last year.
Currently The US national debt is larger than M1, the amount of federal reserve notes in circulation. If we took all the money, and gave it to the FED, they would say thanks, now give us more. BUT there is no more, we gave it all.
And since we are speaking about all the debts, not just the national one, all the debt has to grow faster than interest and principal paid last year. And, american consumers are not keeping up with creation of more debt, so govern-cement has to pick up the slack.
I believe govern-cement should run on a voluntary basis through donations.
Or, at the very least, our 1040 should have a form that states exactly which departments get our money. And if any department doesn't get enough money, it gets closed down immediately.
So, govern-cements should never go into debt, and always balance their budgets.
They're addicted to the heroine. A fish rots first at the head so too the government. Thanks for sharing
It is much like it is, or really was, here on Steemit. Inflation destroyed the value of a currancy.
This topic always makes me tear at the seams. Simply need to end the Fed and start again with gold.
But i know easier said than done.
Anyone put up on television is 98% of the time going to run along with the narrative of "pro-establishment" and pro debt based society.
So much of our government funding is wasted on absolutely senseless shit.
we need currency competition... aka freedom 👍
How predictable....:)...