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Is the US heading for bankruptcy?

Discussion in 'TUG Lounge' started by Fredflintstone, May 16, 2019 at 12:22 AM.

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  1. Fredflintstone

    Fredflintstone TUG Member

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    [​IMG]

    The deficits are racking up.

    Some experts estimate the entire debt in the US is 100 trillion.

    Many argue that the US cannot go broke because they are the international currency. They can simply print off the money and pay the debt.

    Some also argue that much of this debt is internal so it’s not a problem. For example, the fed lends to the treasury.

    Currently the deficit is around 1 trillion a year.

    Is this sustainable? Can the US go bankrupt? Which future generation will pay the price once the money tap runs out if ever?

    Do you see hyperinflation from all this debt and money flow in the system?

    Or, this is no problem. The US can run up debts because all they have to do is add numbers and pay it all off?

    What are your thoughts?


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    Last edited: May 16, 2019 at 12:28 AM
  2. VacationForever

    VacationForever Tug Review Crew: Rookie TUG Member

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    No good thing can become of the deficit, and this thread will soon be closed as it will quickly spiral into a political discussion.
     
    Last edited: May 16, 2019 at 1:17 AM
    klpca and Fredflintstone like this.
  3. Fredflintstone

    Fredflintstone TUG Member

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    Well, let’s not make this a political discussion. Pointing fingers on politicians does not change a thing anyway.

    My personal opinion is that the US will solve the problem. My guess is through hyperinflation making the problem smaller. The problem there is people on fixed incomes would be hurt.

    However, I do see merit in the fact that since the US is an international currency, they could, in theory pay it off in a heart beat. However, this would cause hyperinflation.




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  4. DeniseM

    DeniseM Moderator

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    Political/closed
     
  5. bogey21

    bogey21 TUG Member

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    This is why some own a stash of gold and silver. They consider it insurance that costs them the interest they could have earned on the money their stash cost. At today's rates the cost they are paying for their insurance is pretty low...

    George
     
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