When will the USA pay their debts, if ever?

[BitcoinFreak12]

"The world is in huge debt"?  May I ask to whom?  Or don't you think to ask stuff like that?

Man in what pink universe you live ?

Have you ever heard of fractional reserve banking? 0% Margin requirements? Your CB prints out money from thin air.

The reserve requirement in your own country is 0%, do you even grasp what this means?

http://www.federalreserve.gov/monetarypolicy/reservereq.htm

To whom well: mostly FED, IMF, World Bank, ECB, BOJ,RBNZ,RBA ..etc

They all hold huge amounts of debt, from across the world.

Most indebted countries, check
http://www.economicshelp.org/blog/774/economics/list-of-national-debt-by-country/

Public debt across the world (well well well BRICS has hardly any debt while the western world is crumbling)
http://upload.wikimedia.org/wikipedia/commons/thumb/3/35/Public_debt_percent_gdp_world_map.PNG/1280px-Public_debt_percent_gdp_world_map.PNG

[Silverspoon]

"The world is in huge debt"?  May I ask to whom?  Or don't you think to ask stuff like that?

Man in what pink universe you live ?
[snip]
To whom well: mostly FED, IMF, World Bank, ECB, BOJ,RBNZ,RBA ..etc

They all hold huge amounts of debt, from across the world.

So if the world owes money to [assorted central banks], and, according to the rocket surgeons here, this debt can never be paid, why is it that [assorted central banks] keep lending the world money?
Are they just real nice guys?
What happens if the world doesn't pay its debt?  Do the [assorted central banks] foreclose, shut off the lights sun, and the world ends?
Do you think [assorted central banks] will hire Dog the Bounty Hunter to collect this debt, or will they just keep letting the world slide?
Help me out here.

[C10H15N]

...Public debt across the world (well well well BRICS has hardly any debt while the western world is crumbling)...

lol - by your own map, the B in BRICS (Brazil) has almost as much debt (percentage) as the United States.  

(and I (India) is a very light green moving toward tan) 

[jaysabi]

No, I'm just calling bullshit when I see it. You don't have much credibility after you claimed that India and Russia were easier to run a business in than any western country, and then I posted some pretty compelling data to dispel that idiotic notion. Your views on Somalia should be regarded with the same level of ridicule and disdain.

Have you ever considered that that data was manipulated to brainwash people. After all it was given out by the world bank who has a really good record of manipulating people.

In India you have the soundest monetary policy in whole Asia, they have high interest rates, and keep inflation in check, they are not running a 0% interest rate 0% margin requirement franctional reserve ponzi scheme.

http://www.tradingeconomics.com/india/indicators

In Russia its a bit more complicated, but atleast they have small taxes.

I think you should check your facts friend because you have been really brainwashed by the Keynesian propaganda machine.

It doesn't inspire confidence in your argument that you provide no data to bolster your opinions and your counterargument to data presented against it is "global conspiracy" and "brainwashing." I'm sorry you mistook my critique of your argument for a defense of Keynesian economics. That's really unfortunate for you, since it isn't at all the case. You having a weak point doesn't make anyone who calls you out on it a Keynesian, but it was a valiant effort at misdirection.

[Window2Wall]

Brah, what country are you from?
I don't know what you mean by Keynesian propaganda, or if you have actually bothered to study economics, but if you think that USA is somehow more "Keynesian" than China, please explain WTF you're talking about.

Be specific

Ok i`m from Romania, actually if you`d go to my profile you`d actually see.

Well Keynesianism is more like a cult between central bankers rather than a sound monetary policy.

It only grows debt bubbles which pop out at every single crisis. Yes you could argue that stable prices and low price volatility might be improved by keynesianism, but overally its much worse, because now the world is in huge debt.
I think it's about 180 trillion $ global debt, i`m not sure about that number but its around that.

Ist that a sound policy to endebt everyone? Debt is the 21st century form of slavery, a house mortgage makes you only the bitch of your bank, but a national debt makes you the bitch of your government, see?

And of course any progress that has been made in the 0% interest booming era, will be wiped out in the depression era.

So in this way you have to restart the economy from square 1 after every single recession. The only thing that survives each depression is technology, other than that everything starts again from 0.

That is not a good economic policy, its the worst one in existence, i dont know what kind of special retard Keynes was, but I dont think he even grasped his own theory, how much damage can it cause throughout the world.

If Keynesianism worked how it is suppose to work then additional government spending would cause debt levels (in terms of percentage of GDP) to fall because the economy would grow at a faster pace (resulting in higher tax collections) then the amount of additional government spending

[botany]

"The world is in huge debt"?  May I ask to whom?  Or don't you think to ask stuff like that?

Man in what pink universe you live ?
[snip]
To whom well: mostly FED, IMF, World Bank, ECB, BOJ,RBNZ,RBA ..etc

They all hold huge amounts of debt, from across the world.

So if the world owes money to [assorted central banks], and, according to the rocket surgeons here, this debt can never be paid, why is it that [assorted central banks] keep lending the world money?
Are they just real nice guys?
What happens if the world doesn't pay its debt?  Do the [assorted central banks] foreclose, shut off the lights sun, and the world ends?
Do you think [assorted central banks] will hire Dog the Bounty Hunter to collect this debt, or will they just keep letting the world slide?
Help me out here.

If a country doesn't pay its debt, it get shut off from international debt markets. Since these countries anyway have a fiscal deficit, they have to raise taxes to pay for their expenditure. So I guess common Bob will be left holding the bill.

[Silverspoon]

"The world is in huge debt"?  May I ask to whom?  Or don't you think to ask stuff like that?

Man in what pink universe you live ?
[snip]
To whom well: mostly FED, IMF, World Bank, ECB, BOJ,RBNZ,RBA ..etc

They all hold huge amounts of debt, from across the world.

So if the world owes money to [assorted central banks], and, according to the rocket surgeons here, this debt can never be paid, why is it that [assorted central banks] keep lending the world money?
Are they just real nice guys?
What happens if the world doesn't pay its debt?  Do the [assorted central banks] foreclose, shut off the lights sun, and the world ends?
Do you think [assorted central banks] will hire Dog the Bounty Hunter to collect this debt, or will they just keep letting the world slide?
Help me out here.

If a country doesn't pay its debt, it get shut off from international debt markets. Since these countries anyway have a fiscal deficit, they have to raise taxes to pay for their expenditure. So I guess common Bob will be left holding the bill.

According to your friend, the other learned economist, the world owes its debt to central bankers.
You seem to disagree, suggesting that the world owes money to the world, and the world will stop lending the world money if the world doesn't pay its debt.
So why don't you explain to me how this is gonna work, and why Bob is going to foot the bill?
Who should the world pay its debt to?

[BitcoinFreak12]

"The world is in huge debt"?  May I ask to whom?  Or don't you think to ask stuff like that?

Man in what pink universe you live ?
[snip]
To whom well: mostly FED, IMF, World Bank, ECB, BOJ,RBNZ,RBA ..etc

They all hold huge amounts of debt, from across the world.

So if the world owes money to [assorted central banks], and, according to the rocket surgeons here, this debt can never be paid, why is it that [assorted central banks] keep lending the world money?
Are they just real nice guys?
What happens if the world doesn't pay its debt?  Do the [assorted central banks] foreclose, shut off the lights sun, and the world ends?
Do you think [assorted central banks] will hire Dog the Bounty Hunter to collect this debt, or will they just keep letting the world slide?
Help me out here.

If a country doesn't pay its debt, it get shut off from international debt markets. Since these countries anyway have a fiscal deficit, they have to raise taxes to pay for their expenditure. So I guess common Bob will be left holding the bill.

According to your friend, the other learned economist, the world owes its debt to central bankers.
You seem to disagree, suggesting that the world owes money to the world, and the world will stop lending the world money if the world doesn't pay its debt.
So why don't you explain to me how this is gonna work, and why Bob is going to foot the bill?
Who should the world pay its debt to?

No because average people also hold debt, look at the bond markets. Any household could buy bonds, retirement plans have bonds in the portfolio, and other types of investment funds (including corporations those shares are traded) invest in bonds.

If the debt market collapses, the bond market will also collapse, and average Bob will lose his pension, his investment, his house, his car, and his job( if the company that Bob was working at, has invested too much in those "low risk" bonds will go bankrupt).

Yes that is the reality my friend , every single person is exposed to the bond market, even the homeless guys on the street!

[Silverspoon]

If the debt market collapses, the bond market will also collapse

If US defaults on its government bonds, your pensioners have more than their pension to worry about: America, as they know it, is no moar



Protip for Bob:  Don't expose your retirement savings to high-yield (aka "JUNK") bonds, and stay away from bitcoin - it's tanking, bro.

[picolo]

If the debt market collapses, the bond market will also collapse

If US defaults on its government bonds, your pensioners have more than their pension to worry about: America, as they know it, is no moar



Protip for Bob:  Don't expose your retirement savings to high-yield (aka "JUNK") bonds, and stay away from bitcoin - it's tanking, bro.

It has tanked in 2014 but it could go up or down in 2015, likely up amha.

[crazyearner]

Will never happen I think what will happen is one big massive bail out to fix things and sort problems out. But even then I doubt it will ever happen. It will be a state that is so bad in debt will never abale to right its self and right now its not going to happen. Only time when debit will get fixed if prices come down on 90% of everything in US and people get to pay their debit off as they have money to do so. If the US had free health cover like in UK and Canada and a few other areas of the world it would make a massive impact as I know people had to have operations or stuff done at A&E and pay for their medical bill couldn't afford it and had to iver increase their mortgage or to even take a loan out to cover the medical bill and pay later.

Vote for me and ill guarantee to reduce everything to make your lives a lot simpler to live and be less costly. And as an added bonus I will make Bitcoin 100% legal and have debit cards as a standard for everone and to have ATM machines to cash out your Bitcoin or buy. Vote Crazy for President xD

[BitcoinFreak12]

Will never happen I think what will happen is one big massive bail out to fix things and sort problems out. But even then I doubt it will ever happen. It will be a state that is so bad in debt will never abale to right its self and right now its not going to happen. Only time when debit will get fixed if prices come down on 90% of everything in US and people get to pay their debit off as they have money to do so. If the US had free health cover like in UK and Canada and a few other areas of the world it would make a massive impact as I know people had to have operations or stuff done at A&E and pay for their medical bill couldn't afford it and had to iver increase their mortgage or to even take a loan out to cover the medical bill and pay later.

Vote for me and ill guarantee to reduce everything to make your lives a lot simpler to live and be less costly. And as an added bonus I will make Bitcoin 100% legal and have debit cards as a standard for everone and to have ATM machines to cash out your Bitcoin or buy. Vote Crazy for President xD

I think we`ve all had pretty crazy presidents in the past, we dont need another one.