U.S. Treasury will have to borrow $2T this year just to continue functioning
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Re: U.S. Treasury will have to borrow $2T this year just to continue functioning
#2At what point will the house of cards come crashing down?
Re: U.S. Treasury will have to borrow $2T this year just to continue functioning
#3At what point will the house of cards come crashing down?
I hope soon
Re: U.S. Treasury will have to borrow $2T this year just to continue functioning
#4At what point will the house of cards come crashing down?
Never.
The people accountable didn't get punished last time and they won't this time. You & I will pay for it.
Imo, the flaw is with our species itself, we never evolved to live in such large complex societies. And that's why it's trivial to distract a drooling sugar & dopamine addicted voterbase with issues like which bathroom people should be allowed to use, whilst billionaires become trillionaires and the planet slowly cooks despite token initiatives.
Re: U.S. Treasury will have to borrow $2T this year just to continue functioning
#5At what point will the house of cards come crashing down?
A few people started putting dates on this. Jamie Dimon said before 2035, Ray Dalio said around 2030.
Warren Buffet did not put a date on it (smart as usual) but he also said the current fiscal situation is not sustainable.
Re: U.S. Treasury will have to borrow $2T this year just to continue functioning
#6At what point will the house of cards come crashing down?
When US currency stops being backed by huge amounts of petrochemicals and the largest economy in the world. Or when China stops accepting dollars for stuff maybe? Who knows when it comes to macroeconomics. It's a bit like predicting weather.
Re: U.S. Treasury will have to borrow $2T this year just to continue functioning
#7At what point will the house of cards come crashing down?
If/when it does, it will likely be because of erratic behavior on the part of the government (especially the executive branch), rather than the absolute magnitude of the debt itself.
Which is certainly high, especially given that the current administration made a hatchet job of cuts and yet increased total spending. But the country is still very productive, and has more than sufficient GDP to cover the interest. Which is all that's really required; the principal of the loan can roll over indefinitely.
That said... current total revenue is about $5.5 trillion. Taking out $2 trillion off the top begins to put a strain on the ability to pay for everything else.
So the house of cards is not on the verge of crashing down. But the government could well knock it over.
Re: U.S. Treasury will have to borrow $2T this year just to continue functioning
#8At what point will the house of cards come crashing down?
A few people started putting dates on this. Jamie Dimon said before 2035, Ray Dalio said around 2030. Warren Buffet did not put a date on it (smart as usual) but he also said the current fiscal situation is not sustainable.
Warren Buffet, the guy that told people to stay away from Bitcoin for the past decade and to stick to stocks which average 8-10% and barely outpace inflation while Bitcoin has literally given 10,000% return in the past decade?
Yes, very smart play to keep people dependant on him and his investment company.
Re: U.S. Treasury will have to borrow $2T this year just to continue functioning
#9Earlier quoted context omitted.
A few people started putting dates on this. Jamie Dimon said before 2035, Ray Dalio said around 2030. Warren Buffet did not put a date on it (smart as usual) but he also said the current fiscal situation is not sustainable.
Warren Buffet, the guy that told people to stay away from Bitcoin for the past decade and to stick to stocks which average 8-10% and barely outpace inflation while Bitcoin has literally given 10,000% return in the past decade? Yes, very smart play to keep people dependant on him and his investment company.
I am glad if Bitcoin worked so well for you.
Conceptually though, Warren Buffet is right - Bitcoin has no intrinsic value. Besides scammers and criminals almost nobody uses Bitcoin for transactions. Nobody buys a car, a slice of pizza, a box of nails, a glass vase, an AirBnB rental using Bitcoin.
Re: U.S. Treasury will have to borrow $2T this year just to continue functioning
#10Earlier quoted context omitted.
Warren Buffet, the guy that told people to stay away from Bitcoin for the past decade and to stick to stocks which average 8-10% and barely outpace inflation while Bitcoin has literally given 10,000% return in the past decade? Yes, very smart play to keep people dependant on him and his investment company.
I am glad if Bitcoin worked so well for you. Conceptually though, Warren Buffet is right - Bitcoin has no intrinsic value. Besides scammers and criminals almost nobody uses Bitcoin for transactions. Nobody buys a car, a slice of pizza, a box of nails, a glass vase, an AirBnB rental using Bitcoin.
Nobody buys a car or slice of pizza or a glass vase using stocks, gold, silver, or Pokémon cards either and they have no intrinsic value yet they're worth hundreds of dollars. The value of an item is what people believe it is.
The US dollar is the predominant currency used by scammers and criminals, by far.