$31 Trillion in Debt

Real time.

https://www.usdebtclock.org/

Interesting thank you.

Interesting. Thanks. Good to learn that China owns less of our debt than I thought, and no, I don't think we'll ever pay it off - to any of the investors.

One heck of a role model, eh?

I thought China was owed more of the debt as well and could never understand why the US would indebt itself to China. If this guy knows what he's talking about it's good to hear that's not so.

Regardless of who or what "owns the debt", the fact that there is a national debt is a disgrace. No one can run a household spending more than they earn, yet, our politicians apparently think that they can spend more than the country earns.

RV wrote:Regardless of who or what "owns the debt", the fact that there is a national debt is a disgrace. No one can run a household spending more than they earn, yet, our politicians apparently think that they can spend more than the country earns.

Fiat money, that is, money not tied to any real wealth or value...no gold backing, no control on how much currency is created...always leads to this. From the time the Chines first created paper notes, in, IIRC, the Ming Dynasty...all through to today.

Debasing the currency makes the receivers of the newly-issued currency rich; but makes the populace poorer, and destabilizes the entire system. Which is what's happening.

It's taking so long, because the US has been chosen as the World's Reserve Currency (Bretton Woods agreements) and HAS BEEN the only way to trade with the Arabs for oil (petrodollar).

So it's taking longer to wreck the system; but Bidet and the Dumbo cRats are sure working hard at it.

Casey Jones wrote:

RV wrote:Regardless of who or what "owns the debt", the fact that there is a national debt is a disgrace. No one can run a household spending more than they earn, yet, our politicians apparently think that they can spend more than the country earns.

Fiat money, that is, money not tied to any real wealth or value...no gold backing, no control on how much currency is created...always leads to this.  From the time the Chines first created paper notes, in, IIRC, the Ming Dynasty...all through to today.

Debasing the currency makes the receivers of the newly-issued currency rich; but makes the populace poorer, and destabilizes the entire system.  Which is what's happening.

It's taking so long, because the US has been chosen as the World's Reserve Currency (Bretton Woods agreements) and HAS BEEN the only way to trade with the Arabs for oil (petrodollar).

So it's taking longer to wreck the system; but Bidet and the Dumbo cRats are sure working hard at it.

""Fiat money, that is, money not tied to any real wealth or value...no gold backing""


money has never been real since it was severed from precious metal deposits , no way to rate its value

And we've been on a steady decline since then.

Todays $ is worth about four cents from 1970.

And it's getting worse, rapidly.

That was WHY the gold standard.

And, for Central Bankers and those who benefit from currency debasement...the cronies who have access to the Free Money...stable money and a Gold Standard, are not a benefit, but a curse.