LeGaulois
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August 21, 2019, 05:17:36 PM |
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A country is considered in difficulties when its Debt-to-GDP ratio is above ~75%. The US ratio is over 100-110%. Yet the country keeps spending half of the budget in military programs. If you prefer to fight with the latest guns than to eat, then you have a problem. Printing money doesn't help at all, it only devalues the dollar and creates inflation.
Perhaps he knows how to manage companies financially, and it's still debatable, but in any case, he doesn't know how to do it with a country's budget at all. The U.S. budget deficit is out of mind, either they change their habits or welcome a recession.
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exstasie
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August 21, 2019, 05:57:51 PM |
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The US monetary system is made to allow for an ever increasing debt.
This is what a lot of doomsdayers don't understand. Fiat monies with floating exchange rates work as a matter of faith. The only things that threaten that faith are liquidity crises, like we saw in 2008. Fundamentally the number itself, the amount of debt, doesn't matter. This is why the doomsdayers who have been predicting imminent USD collapse for decades have been perpetually wrong. The system is unsustainable but predicting which liquidity crisis will finally cause a global currency reset is a fool's errand. We could be dead before it finally happens.
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o_e_l_e_o
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August 21, 2019, 07:31:57 PM |
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HODL bitcoin or not, the recession that's at our necks is gonna fuck us all, and we can do literally nothing about it. It's going to be nasty. Italy already went in to a recession last year, and looking at the same again this year. Other major economies, such as China, Germany, UK, and South Korea, have already seen a contraction in one quarter this year so far, and are therefore on the brink of a recession. There are plenty of other smaller economies in the same situation, and some other countries already in a recession. Impossible to say when it's coming, but it is, and we are all entering it in a far worse economic state than we did in 2008. If you prefer to fight with the latest guns than to eat, then you have a problem. US government spending is ridiculous, and the national debt will only increase with the money being allocated as it is. The US spends more on defense than the next seven highest spending countries combined. The US alone makes up over one third of global military expenditure. Other ridiculous spending includes healthcare; between medicare, medicaid, and other health spending, the US spends around 23% of its entire budget on health. In terms of both dollars per capita and GDP, the US spends at least twice as much as most other Western nations on healthcare (and gets worse outcomes for it, but that's a whole other discussion).
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1Referee
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August 21, 2019, 10:04:39 PM |
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Hold more good assets, and if you have mortgages expect a higher interest rates in the coming years so try to buy more bitcoin for now.
Holding good assets (i.e. Bitcoin, Gold, etc) should be something people by default should do. In times where there isn't much demand for Gold due to strong global economics, its price is usually lower and for that reason a great time to enter and keep adding as time goes by. Most people tend to wait for things to turn bad before they start buying themselves into Gold. It might sound a bit contractictory coming from a Bitcoin maximalist, but it's definitely a good idea to buy up some physical Gold too. As long as Bitcoin is seen as a risk-on asset by the general public, it might get dumped down just as hard as stocks will be dumped down. Gold is generally the last asset that is liquidated when people are in need of fiat.
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jaocoincrypto18
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August 22, 2019, 01:18:00 AM Last edit: August 22, 2019, 01:33:49 AM by jaocoincrypto18 |
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I can say that president Trump is trying his best to neutalize this debt issue but like the other past presidents it is very impossible to totally wipe out this increasing obligation specially if the people are not united to support his campaigns but uniting them is very impossible too therefore expect that this plunged debt will continue until his last term
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Indamuck
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August 22, 2019, 04:25:53 AM |
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The debt doesn't even matter, don't be fooled. Its all just a magic show they put on us to trap us and keep us controlled. What matters is hard scientific breakthroughs that really change our lives and when the ones in power want to use it for evil they will destroy us.
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mersal
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August 22, 2019, 05:15:48 AM |
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I read somewhere that US is going to print USDs worth of 7 trillion to pay their debts which caused them expense of 320 billion for the printing works which means their debt will be gone but their money will go deep down due to the high inflation rate in the short time period.I am not sure much about why they got debts but it is not good for the future of a nation like US whose money to be considered as one of the most stable all around the world.
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el kaka22
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August 22, 2019, 07:09:58 AM |
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They think cutting would create a better economy and republicans love to make cuts to tax in order to make people live with money they have instead of getting free stuff from government but what they are forgetting is that rich people and wealthy could pay no taxes and still live without any government hand out whereas poor people will have a lot of hard time, no tax country where everything is charged is not something poor people can afford whereas if everyone paid a decent amount of tax according to how much they make then all of the country could live happily.
These tax cuts would make few people better off in economical sense whereas it will create a lot of trouble for the whole of the country, 90%+ will be affected to save the %1 richest one once again.
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Betwrong
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August 22, 2019, 10:57:53 AM |
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Whether a huge national debt indicates a bad economic situation in the country has been always a big question for me. Look at the list of top 5 countries with the highest external debt: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FnVUpZN7.png&t=665&c=tNfblExXNcwA3Q) Can we say that the countries from the list above have poorer economic situation than that of the countries from the list below? ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FQ4ebwMP.png&t=665&c=HmvYf4buSadsjQ) Source: https://en.wikipedia.org/wiki/List_of_countries_by_external_debtOr, if we take GDP into consideration, ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FSU25VIf.png&t=665&c=N6FWwKJVmz3Zvg) Source: http://worldpopulationreview.com/countries/countries-by-national-debt/Would it be right to suggest that economic situation in Sudan is somehow better than that in Japan?
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BITCOIN TO THE MOON ☾ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿ ₿
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Kakmakr
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August 22, 2019, 11:30:50 AM |
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What should be emphasized is that this promise or rather the utter nonsense is from 2 April, 2016 based on link stompix posted,, and we know that after 3+ years there were no positive changes regarding the reduction of national debt, but it happened just the opposite - so that debt grew from $ 19 trillion to $22 trillion in time of Trump presidency. Does anyone think that this debt will go down in next 4-5 years? Only if they appoint the greatest miracle worker of all time instead of the president in White House. Maybe Trump plans to reduce national debt with the purchase of Greenland? When Denmark say no to that offer, he is canceled state visit to that country https://www.theguardian.com/world/2019/aug/21/trump-state-visit-cancellation-over-greenland-shocks-danesWell, I guess it would be cheaper to buy Greenland and then to relocate there, if you do not want to deal with the problems with all the illegal Mexicans that enters the US on a daily basis. No wonder there was a Government shutdown over the Wall he wanted to build between the US and Mexico. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) < That wall would have cost up to $25 million per mile and take years to build and it would cost the White House about $5.7 billion to cover only about 230 miles.> ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif) His government should start to lead by example and implement belt tightening measures to curb government spending on useless projects like that. ![Wink](https://bitcointalk.org/Smileys/default/wink.gif)
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davis196
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August 22, 2019, 11:35:26 AM |
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The US government debt might help for pumping the bitcoin price,but I don't think the impact is going to be that big.After all,the investors have a lot of options,when it comes to putting their money-real estate,gold,oil,stocks,derivatives,etc.The upcoming recession will scare the shit out of investors and some of them will find a safe heaven in bitcoin,but this is going to be only short term.
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BitHodler
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August 22, 2019, 11:50:45 AM |
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The US government debt might help for pumping the bitcoin price,but I don't think the impact is going to be that big.After all,the investors have a lot of options,when it comes to putting their money-real estate,gold,oil,stocks,derivatives,etc.The upcoming recession will scare the shit out of investors and some of them will find a safe heaven in bitcoin,but this is going to be only short term.
There is very little liquidity within this market, so if there actually is debt flowing into Bitcoin, it will have a massive impact. I however don't think there is much of it flowing into Bitcoin. People hope it is, but that's just how they are. I do however agree that every form of safe haven capital that is being pumped into Bitcoin will be taken out immediately when investors see the early signs of an improving economy. This is why I prefer that Bitcoin isn't being used as a safe haven asset by the more traditional investors. People here love it when the price pumps, but as they have proven more than once already, they can't handle large corrections.
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BSV is not the real Bcash. Bcash is the real Bcash.
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Pab
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August 22, 2019, 02:03:13 PM |
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USA debt and world debt is rising every day.It looks like there is no limitation But notice that now we have new kind of money that new money are debt money.Debt is money debt is asset.Debt is slavery tool debt is able to destroy individuals and small and medium companies However last time we have record gold buy from central banks.Russia sold half of his dollar reserve and bought gold India and China are buying gold as well Personally i think we are entering in to the end of dollar dominance,what will create tensions,wars and conflicts .
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Febo
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August 22, 2019, 04:54:31 PM |
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Whether a huge national debt indicates a bad economic situation in the country has been always a big question for me. Look at the list of top 5 countries with the highest external debt: Or, if we take GDP into consideration, ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FSU25VIf.png&t=665&c=N6FWwKJVmz3Zvg) Source: http://worldpopulationreview.com/countries/countries-by-national-debt/Would it be right to suggest that economic situation in Sudan is somehow better than that in Japan? You should always take GDP in consideration when looking at country debt. But of course you also need to look how is debt structured. But there are also other things important. Japan is quite deep in shit. Their population is aging fast. Sudan have one of youngest population on world. Also debt dont make economic situation worse, but better. Paying that debt off will make it worse.
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Vishnu.Reang
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August 22, 2019, 05:23:39 PM |
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The US monetary system is made to allow for an ever increasing debt.
The US government can afford such high levels of debt, because there is a lot of demand for United States Treasury Bonds and the current interest rate is just 3% to 4% per year. So unlike the other countries, the Americans are able to take out huge loans, at very low interest. But is this going to continue for ever? The largest holder of US bonds is China. And they are planning to offload most of these bonds.
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davinchi
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August 22, 2019, 08:03:41 PM |
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As long as USA is capable of paying the debts they have to right now, the future debts still mean nothing to them, you can have 100 trillion dollars in debt and as long as you have 100 years to pay it then there is no problem for them. Now, the real problem is the debt they have to pay right away and since economy is not doing that well and they are making tax cuts that disables to option to get money right away and pay it, they are having trouble paying it.
If they somehow come up with a solution that would pay the current debt then they will not have any problems at all, all they need to do is increase the taxes for the wealthy people again and I am 90% sure that will be what the democrat candidate will do if they win 2020 so the problem will not live that long.
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exstasie
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August 22, 2019, 09:02:26 PM |
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Whether a huge national debt indicates a bad economic situation in the country has been always a big question for me. Look at the list of top 5 countries with the highest external debt: Can we say that the countries from the list above have poorer economic situation than that of the countries from the list below? Source: https://en.wikipedia.org/wiki/List_of_countries_by_external_debtOr, if we take GDP into consideration, Would it be right to suggest that economic situation in Sudan is somehow better than that in Japan? Exactly. The amount of debt doesn't inherently matter, particularly when all major world currencies are fiat monies with floating exchange rates. What matters is lending liquidity and ultimately faith in the underlying currency. I'm not saying the USD will never collapse, but the people perpetually predicting it for the past few decades remind me of this: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FDNsXXq9.jpg&t=665&c=ubXwhHjb3bryTA)
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vixcious
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August 23, 2019, 07:03:22 AM |
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the eradication of national debt so far in a term is impossible. We have to give Mr. Trump another 2-3 more terms so he can do it. In the first term, he did a very good job of restoring the US economy, the next step would be to gradually eliminate bad debt.
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stompix
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August 23, 2019, 11:20:47 AM |
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You should always take GDP in consideration when looking at country debt. But of course you also need to look how is debt structured. But there are also other things important. Japan is quite deep in shit. Their population is aging fast. Sudan have one of youngest population on world. Also debt dont make economic situation worse, but better. Paying that debt off will make it worse.
Yeah, Suda might have the youngest population, not sure about it, but it's pretty damn easy when the life expectancy is 64 years, while in Japan is 84. Of course, ho cares about living 20 years more, right? What people tend to forget is that there is also another indicator of the wealth of those countries. And the website we talk about also has it, at the bottom See this small thingy: ![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2F9HGti8O.png&t=665&c=Dcrv7BuY9ONAmw) Well, on average it will take the Sudanese people 2 lives to achieve this wealth and only if they do not spend a dime! the eradication of national debt so far in a term is impossible. We have to give Mr. Trump another 2-3 more terms so he can do it. In the first term, he did a very good job of restoring the US economy, the next step would be to gradually eliminate bad debt.
What was there to restore? Nothing! In 3 more terms, he will take the debt to 30 trillion the way he started.
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Schirer
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August 23, 2019, 11:58:13 AM |
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US will never be able to pay their debt, it is almost impossible to grasp the amount of their debt. It is absolutely huge.
For sure there is big lobby to go in even bigger debt , to take more money not only to buy stuff from lobbyist niches but also to pay more percents to those who gives out these debts. It would be interesting to see how these interest rates are progressing over time, what are the values of their paid debt monthly and yearly. For sure there would be some interesting stuff
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