The Never Ending Story...

[Kemarit]

Imagine this, you're just sleeping on your bed all day but you're debt on the government is not sleeping instead it keeps on rising every second. Such an unfair situation in life of every single person.

You can even say that our unborn children will carry the burden as well. On the upside, if government borrows to fund infrastructure projects it will likely benefited the next generation.

And what when the country is unable to pay its debt? Nothing.

Yes, but most of the times you will hear nations, raising tax and the first argument they gave us is that they need to pay "our" national debt.

If the Chinese come knocking asking for the repayment of the said debt, see how the government try to become hostile and engage in a war (hopefully not) with China.

Never in the history of humanity we have seen that countries become hostile against each other because of not re-paying their debt. So I don't think that China and USA will go to that stage, they might be in sort of trade war but I'm sure they know the consequences of their action specially if China force USA for re-payment.

[1714064494]

1714064494

[sunsilk]

This is an interesting topic and made me research if there's a debt-free country. And it listed few countries and I'll mention few of it.

• Macau
• Brunei
• Liechtenstein

Source: https://en.wikipedia.org/wiki/List_of_countries_by_external_debt

Can someone knowledgeable there can verify or add more details about this?

I am not sure they were still in debt free situation but the reason why they don't have debts is they are small countries with enough wealth to cover all their citizen's expenses by themselves.So they are not having any loans from outside of their country they just doing trading with what they have and making money with it.

That's the only source that I have but its better to see and read if someone is more knowledgeable regarding this very interesting topic. As for the economy of Macau and Brunei, I never heard them on news to struggle with their economy.

Yes, it's a fact that the smaller countries aren't prone to debts so they can have a tiger economy because of that strategy of not getting into loans. But some small countries just can't do that and needed the help of other countries for them to stand up and build their nation.

[aeternus]

They already know that the debts they are carrying are impossible to pay, it seems they think the day will never come when they will need to pay those debts, if things made sense the whole thing should have collapsed immediately but it did not, so it seems the faith they have about sustaining such a system is not so out of place after all.

[horrifiedx1]

They already know that the debts they are carrying are impossible to pay, it seems they think the day will never come when they will need to pay those debts, if things made sense the whole thing should have collapsed immediately but it did not, so it seems the faith they have about sustaining such a system is not so out of place after all.

of course when they are in debt there is a clear purpose and measurable calculation as well. because of the many debts and long periods of time, sometimes to bequeathed to the next generation. and the next generation needs debt to carry out the plan. and I think as long as for the right purpose, debt will not impoverish us

[ethereumhunter]

That is what happens in our life. And you know what, every people who lived in each country should pay that debts which are grown in every second and we have to pay in monthly. The debts will be changed into a tax for every people, and they need to pay in various amount. The developing country should pay to the rich country until they can repay all of the debts which will need a long time to pay off.

[el kaka22]

Thinking about of the impossible is that, even if you stay in the planet for about a thousand year, the Debt of every country will never be payed off. Hence, it will just continue to grow. The current economy of every country doesn't knows that well. And by just a simple thinking, We should have a restart on everything.

I think that's why we have wars to begin with. When a place is too chaotic and can't be recovered quickly they are basically calling it a reset button. Usa goes into places like iraq and so forth, get all of the money from Saddams vault and gets it back to oil companies and whatever as well. Which means USA makes their economy alive again.

Why did the USA had a crisis in 2008? Because the economy was prospering thanks to the war, people getting more money from another country, spending it, getting oil as well, making stuff cheaper, and life was amazing, as soon as that money dried up they started to get into a crisis. The way countries make money is either normal warfare or economical warfare and try to come out on top, thats why debts are unimportant because if the day comes that debt is too much, they will get someone else to pay it for them anyway.