| US Debt - Watch the US Bury Itself on 19:49 - Sep 7 with 1692 views | controversial_jack |
Most countries have huge national debts. The figures are so large they can never be paid off. The money has effectively become worthless |  | |  |
| US Debt - Watch the US Bury Itself on 19:52 - Sep 7 with 1692 views | SullutaCreturned |
It's ridiculous. If they carry on doing this their repayents will be more than their income, they'll collapse. | | | |
| US Debt - Watch the US Bury Itself on 20:09 - Sep 7 with 1672 views | JACKMANANDBOY |
| US Debt - Watch the US Bury Itself on 19:49 - Sep 7 by controversial_jack |
Most countries have huge national debts. The figures are so large they can never be paid off. The money has effectively become worthless |
Here's a decent article on where the US debt is held. Worldwide there is an increasing reliance on China in developing countries, some countries are up to 40% of GDP owed to China.
It's a house of cards.
https://www.marketplace.org/20 |  |
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| US Debt - Watch the US Bury Itself on 06:37 - Sep 8 with 1592 views | SullutaCreturned |
I can't remember the exact figur but a large chunk of UK national debt is owed to the Bank of England...how does that work?
It's all a scam.
As I get older the more I believe money s just a scam. It was invented to keep us plebs in our place. | | | |
| US Debt - Watch the US Bury Itself on 07:12 - Sep 8 with 1579 views | JACKMANANDBOY |
| US Debt - Watch the US Bury Itself on 06:37 - Sep 8 by SullutaCreturned |
I can't remember the exact figur but a large chunk of UK national debt is owed to the Bank of England...how does that work?
It's all a scam.
As I get older the more I believe money s just a scam. It was invented to keep us plebs in our place. |
The simplest example is where a government institution invests in a government bond to boost its income on cash reserves.
Theres an argument not to include this as it is intergovernmental debt but also an argument that it should because if it involved a government pension fund then the pensioners need protecting for example.
In the pension fund example it is a liability and there's a problem with public sector pensions in that they are chronically underfunded. So there's also an argument to increase the sum of government debt by including the full liability for government pension schemes, I would favour a model where public institutions are protected more from government interference, but there are consequences as it would drive down the UK credit rating and increase the cost of borrowing.
There is so much debt in the system it's distorting the financial system. In the US debt interest payments are now equivalent to a majority of government tax revenue, the US is having to borrow more and more to keep operating. That's prompting the arguments about the debt ceiling in the US, many see increasing the debt ceiling as madness, but if they stop borrowing they can not run the public sector.
In short, expect a financial crisis made by some governments where the man in the street get fleeced, whenever there's a government problem the man in the street pays. [Post edited 8 Sep 2023 7:32]
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| US Debt - Watch the US Bury Itself on 08:39 - Sep 8 with 1549 views | controversial_jack |
| US Debt - Watch the US Bury Itself on 07:12 - Sep 8 by JACKMANANDBOY |
The simplest example is where a government institution invests in a government bond to boost its income on cash reserves.
Theres an argument not to include this as it is intergovernmental debt but also an argument that it should because if it involved a government pension fund then the pensioners need protecting for example.
In the pension fund example it is a liability and there's a problem with public sector pensions in that they are chronically underfunded. So there's also an argument to increase the sum of government debt by including the full liability for government pension schemes, I would favour a model where public institutions are protected more from government interference, but there are consequences as it would drive down the UK credit rating and increase the cost of borrowing.
There is so much debt in the system it's distorting the financial system. In the US debt interest payments are now equivalent to a majority of government tax revenue, the US is having to borrow more and more to keep operating. That's prompting the arguments about the debt ceiling in the US, many see increasing the debt ceiling as madness, but if they stop borrowing they can not run the public sector.
In short, expect a financial crisis made by some governments where the man in the street get fleeced, whenever there's a government problem the man in the street pays. [Post edited 8 Sep 2023 7:32]
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The taxpayer can't possibly pay those amounts though. The shortfall between taxes and debt is made by borrowing from International banks, hence the national debts | | | |
| US Debt - Watch the US Bury Itself on 10:10 - Sep 8 with 1534 views | felixstowe_jack |
The USA is not even the biggest debtor based on debt to GDP RATIO. Japan tops that list followed by Italy, Greece Portugal France Ireland and Belgium. Just below the USA are Spainand Singapore. | |
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| US Debt - Watch the US Bury Itself on 16:59 - Sep 8 with 1483 views | SullutaCreturned |
| US Debt - Watch the US Bury Itself on 10:10 - Sep 8 by felixstowe_jack |
The USA is not even the biggest debtor based on debt to GDP RATIO. Japan tops that list followed by Italy, Greece Portugal France Ireland and Belgium. Just below the USA are Spainand Singapore. |
Surely a point has to come where the borrowing has to be refused and the debt has to be repaid?
Surely this cannot be allowed to carry on.
If a country can only afford to repay just the interest then they are insolvent aren't they? The debt will never come down and as they are borrowing more then soon they will be bankrupt.
What happens across the world if Japan, USA, France, Belgium, Greece, Portugal, Italy, Spain, Ireland and Singapore default on their debts?
The USA is clearly in trouble but then, the Eu has a few members with problems too. Russia and China must be watching in delighted anticipation. | | | |
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| US Debt - Watch the US Bury Itself on 18:53 - Sep 8 with 1454 views | felixstowe_jack |
| US Debt - Watch the US Bury Itself on 16:59 - Sep 8 by SullutaCreturned |
Surely a point has to come where the borrowing has to be refused and the debt has to be repaid?
Surely this cannot be allowed to carry on.
If a country can only afford to repay just the interest then they are insolvent aren't they? The debt will never come down and as they are borrowing more then soon they will be bankrupt.
What happens across the world if Japan, USA, France, Belgium, Greece, Portugal, Italy, Spain, Ireland and Singapore default on their debts?
The USA is clearly in trouble but then, the Eu has a few members with problems too. Russia and China must be watching in delighted anticipation. |
China and Russia also have huge national debts. | |
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| US Debt - Watch the US Bury Itself on 22:53 - Sep 8 with 1383 views | JACKMANANDBOY |
| US Debt - Watch the US Bury Itself on 08:39 - Sep 8 by controversial_jack |
The taxpayer can't possibly pay those amounts though. The shortfall between taxes and debt is made by borrowing from International banks, hence the national debts |
The question is how long can you borrow just to keep the lights on, the more you borrow the less you have to spend next month/year so the more you have to borrow until the lender gets twitchy........and hey presto a banking crisis. | |
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| US Debt - Watch the US Bury Itself on 14:00 - Sep 9 with 1325 views | SullutaCreturned |
| US Debt - Watch the US Bury Itself on 18:53 - Sep 8 by felixstowe_jack |
China and Russia also have huge national debts. |
Which is all just a part of the massive conundrum, most countries hae national debt and in most cases other countries own a part of that debt. Could large amount of debt be written off if countries just compared notes?
Is the way the system is set up a deliberate thing so they can keep taxing us to the hilt? The rich and powerful stay in their ivory towers whilst the rest of us have to keep working until we drop?
Or is it just a major cock up by people who say they know better but are actually clueless, are we heading for a global financial disaster worse than anything we ever imagined? | | | |
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