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I'm honestly surprised the above hasn't happened with Yellen coming out and telling everyone that the US will default on its debt if it can't borrow more money
by hellojesus 5y ago
I'm honestly surprised the above hasn't happened with Yellen coming out and telling everyone that the US will default on its debt if it can't borrow more money to pay back the people it already borrowed from.
Peter Schiff has touched on this, but who in the world is willing to lend to the US at the moment when the US just came out on record as running the biggest ponzi scheme ever?
- headShrinker 5y agoPeter Schiff is a broken clock that was right once in the last 20 years. Even broken clocks are right twice a day.
- hellojesus 5y agoHe has been arguing mostly the same points for the past decade, but at least he's been consistent. The old saying comes to mind, "Markets can remain irrational longer than you can stay solvent." I wanted to believe in MMT; it sounded at first like it could be something completely counterintuitive that just works, and some time later a rational quantity of math would explain it. At the present, I think that was too wishful. The US seems to be able to print unlimitedly because of its unique status as the reserve currency. Once other countries opt out, and some are making concrete steps towards doing so, our dollar will quickly collapse, and it'll take the rest of our lives to experience a quality of living akin to today's.