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> What do you think happens if the debt goes up? Do you think the government is gonna go bankrupt? That’s literally not how it works. You're the one that has n
by timacles 2y ago
> What do you think happens if the debt goes up? Do you think the government is gonna go bankrupt? That’s literally not how it works.
You're the one that has no idea what hes talking about.
Debt uncontrollably going up without something to balance it means exactly that. If the debt exceeds the GDP, which is where the US is clearly going, we are looking at a collapse of the US dollar and its global influence. Theres no telling what will happen after that because its unfathomable
This is also why the techbros are staging a coup on the US, so the US doesnt come for the billions when it goes bankrupts
- amrocha 2y agoJapans debt is 300% of their GDP and yet their society seems to work a lot better than the US. Maybe there’s more to economics than debt ratios.
- roenxi 2y agoWell, yes. Japan as a nation is a net creditor. Net creditor don't generally struggle when paying back their debts. The question of where the money will come from has an obvious answer. If the US was a net creditor then the story would be completely different.
- imwillofficial 2y agoJapan's currency is in the toilet. They are struggling.
- amrocha 2y agoThe value of a currency has nothing to do with how that country’s economy is doing. It’s mostly a factor of international trade. That has nothing to do with debt ratios.
- navane 2y agoThe debt exceeds the GDP since 2012: https://fred.stlouisfed.org/series/GFDEGDQ188S https://fred.stlouisfed.org/series/GFDEGDQ188S