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US National Debt Surpasses GDP

thehill.com

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Re: US National Debt Surpasses GDP

#11

Post by sosodev »

kjellsbells wrote: post #8
OsrsNeedsf2P wrote: post #2

Are folks really optimistic about the US in the long term? Like obviously right now it's one of the best places to be for career growth and income, but do people really imagine staying here for the next 20, 30 years, or do they just not think about it?

Yes I am, but it might not be very comforting, since a 20 year horizon is a long time to endure before you get to the sunlit uplands. The US periodically goes through periods of intense corruption, political instability and inequality. It seems like this era is worse because we are living through it right now, but talk to people who were young adults in, say, 1960 to 1975 and they will tell you that between avoiding…

Well put. I too am optimistic that, in the long term, good will prevail and we'll be stronger because of the suffering. I also agree that there's happiness and meaning to be found in presence and local life. However, it feels quite hard to let it wash over me when I spend so much time at work. The hippie lifestyle is very tempting, but I want stability and a family.

Re: US National Debt Surpasses GDP

#12

Post by Wowfunhappy »

OsrsNeedsf2P wrote: post #2

Are folks really optimistic about the US in the long term? Like obviously right now it's one of the best places to be for career growth and income, but do people really imagine staying here for the next 20, 30 years, or do they just not think about it?

The US still has a highly educated population and lots of high value industries. It's geographically well positioned and large.

I think if we can get even semi-competent people running the government again, we'll be fine.

Re: US National Debt Surpasses GDP

#13

Post by 2OEH8eoCRo0 »

kjellsbells wrote: post #8
OsrsNeedsf2P wrote: post #2

Are folks really optimistic about the US in the long term? Like obviously right now it's one of the best places to be for career growth and income, but do people really imagine staying here for the next 20, 30 years, or do they just not think about it?

Yes I am, but it might not be very comforting, since a 20 year horizon is a long time to endure before you get to the sunlit uplands. The US periodically goes through periods of intense corruption, political instability and inequality. It seems like this era is worse because we are living through it right now, but talk to people who were young adults in, say, 1960 to 1975 and they will tell you that between avoiding…

The Ken Burns Vietnam War doc was eye opening as a 30-something whipper snapper. The 60s were nuts.

Re: US National Debt Surpasses GDP

#14

Post by kilroy123 »

OsrsNeedsf2P wrote: post #2

Are folks really optimistic about the US in the long term? Like obviously right now it's one of the best places to be for career growth and income, but do people really imagine staying here for the next 20, 30 years, or do they just not think about it?

I left the US over 10 years ago. Not for any political reasons, but because I just wanted to live abroad all my life. This has given me an interesting perspective.

I think the World is in a major transitional period. The next 5 years will be very rough for most regular Americans. Kind of like in 1939-40. It's going to be bad for a little while and then get better once a new world order is established.

Re: US National Debt Surpasses GDP

#15

Post by 2ndorderthought »

Wowfunhappy wrote: post #12
OsrsNeedsf2P wrote: post #2

Are folks really optimistic about the US in the long term? Like obviously right now it's one of the best places to be for career growth and income, but do people really imagine staying here for the next 20, 30 years, or do they just not think about it?

The US still has a highly educated population and lots of high value industries. It's geographically well positioned and large. I think if we can get even semi-competent people running the government again, we'll be fine.

The damage that's been done over the last year and will continue for the next 3 will take decades to recover from. Thats under ideal conditions where all future leadership has some semblance of an interest in fixing the mess we are all in.

Re: US National Debt Surpasses GDP

#16

Post by dlivingston »

kilroy123 wrote: post #14
OsrsNeedsf2P wrote: post #2

Are folks really optimistic about the US in the long term? Like obviously right now it's one of the best places to be for career growth and income, but do people really imagine staying here for the next 20, 30 years, or do they just not think about it?

I left the US over 10 years ago. Not for any political reasons, but because I just wanted to live abroad all my life. This has given me an interesting perspective. I think the World is in a major transitional period. The next 5 years will be very rough for most regular Americans. Kind of like in 1939-40. It's going to be bad for a little while and then get better once a new world order is established.

Can you say more about the transitional period (the why and how)?

I agree completely we are going through one.

Re: US National Debt Surpasses GDP

#18

Post by prepend »

OsrsNeedsf2P wrote: post #2

Are folks really optimistic about the US in the long term? Like obviously right now it's one of the best places to be for career growth and income, but do people really imagine staying here for the next 20, 30 years, or do they just not think about it?

One thing my economics professor taught me is that it’s about relative position across alternatives.

The reason the US continues to grow and thrive despite insane debt is that other countries are worse. Try investing $100B in other markets stably. Now do that 100 times and the chaos of the US is preferred due to the massive debt of other countries, corruption, etc

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