Do you know how much the national debt has gone up?

[chadbag]

The functional difference between $50 trillion vs. $100 trillion is rather like the difference between getting hit directly by a bus vs. a loaded dump truck. One may be technically worse on paper, but you're absolutely ****ed either way.

No argument here. The reason why it somewhat matters though is so that you can document the change in it so that you can see if anything is happening to restrain it or it is only getting worse.

Plus it help people to start to understand things better (or to come to the realization we are screwed) the bigger the number is

[mr_smiles]

But it will eventually come crashing down and then your life WILL change. Cause and effect is not always instantaneous.

Not true, with proper investments you can protect yourself, in the event that shit crashes. Now if you're wrong about future events your invested monies can become worth nothing.

Some things are treasury inflation protected securities (know as tips) or commodities, but carry a risk, commodities carries a huge risk, and right now we have a bubble happening such as with REM's.

[500grains]

When the crash happens, I would not expect paper investments to be honored. A deed for land, yes. Unless we have a commie revolution. But any kind of treasury paper? Forget it.

Personally I think we should do the following in a 90 day window, but obviously it cannot be done with the current squatter in the oval office:

(a) pass a balanced budget amendment,

(b) renege on the debt,

(c) cancel the current USD and issue the "New U.S. Dollar",

(d) spend no more than the government takes in from then on since we will not be able to borrow.

It is too late for an innoculation. Either we have a minor case of the plague or a major case. Select one.

[Gutshot John]

(b) renege on the debt,

Really? Some of your ideas were good, others were bad, this is dangerous.

Do you know how many millions of Americans own US Treasury bonds? Most American debt is held by American citizens, investors and private corporations.

Do you understand the profound negative consequences of such an action relevant to our current situation? Government needs to able to borrow, just like you need to be able to borrow...unless you paid cash for your house, your car and many other things you need to function in our society.

Do you just decide to not pay your debts when it suits you? Let us know how that works out for you. See above.

If you answered "no" to any of the above, than your above solution becomes wholly unrealistic.

How about we keep our solutions within the realms of reality and honor the debts we have taken on. The American people elected people that took on these debts in our name. These debts might be a problem, but the American people are still responsible for these decisions.

I'm afraid there isn't an easy way out but I'd prefer not to become a banana republic.

[montanadave]

When the crash happens, I would not expect paper investments to be honored. A deed for land, yes. Unless we have a commie revolution. But any kind of treasury paper? Forget it.

Why the **** should I honor your land deed (or car title, etc., etc., etc.) which, incidentally, you acquired through trading those same pieces of treasury paper yesterday, when you decide to tell me to burn my treasury paper today?


Sorry, you default on the debt and reissue script and it's "game over," everybody goes back to square one, "forty acres and a mule" time. Of course, given our current population, it ain't gonna be 40 acres anymore (probably just under eight) and we'd be up to our ass in mule shit.

Not gonna happen.

[mr_smiles]

When the crash happens, I would not expect paper investments to be honored. A deed for land, yes. Unless we have a commie revolution. But any kind of treasury paper? Forget it.

You seriously see this apocalyptic future with hyper inflation but believe a deed of land will have legitimacy during this time?

[mr_smiles]

Do you know how many millions of Americans own US Treasury bonds? Most American debt is held by American citizens, investors and private corporations.

Shhh! Don't go telling people that China doesn't own 99.9% of our debt, if we did this we wouldn't have the panic we do and a common enemy.

[Heartland Hawk]

The functional difference between $50 trillion vs. $100 trillion is rather like the difference between getting hit directly by a bus vs. a loaded dump truck. One may be technically worse on paper, but you're absolutely ****ed either way.

THIS.

[variablebinary]

Does the national debt really matter?

How much can you owe yourself?

Your life hasn't changed a bit since Obongo ran the national debt through the ceiling?

Yes.

The USA doesn't owe itself. It owes debt holders all over the USA and the globe. If you don't pay your debts, you won't be able to borrow, so you'll need to print currency that will eventually become worthless

There is only one way to pay back $14 trillion without resetting the currency, and that is to hyper inflate the currency which will obliterate the value of all your savings. To hedge against inflation those with means will want to dump their dollars to protect their wealth. Generally they will turn to commodities, which will spike up the value of things like food, raw materials, and oil. So not only will your shitty currency be worth less, but everything will cost vastly more.

And this isn't tin foil shit, this is fact, and it is already happening. Stop posting here and read news papers. WSJ and see what is actually happening to your economy every day.

[500grains]

Why the **** should I honor your land deed (or car title, etc., etc., etc.) which, incidentally, you acquired through trading those same pieces of treasury paper yesterday, when you decide to tell me to burn my treasury paper today?

I think you are confusing the concepts of debt versus ownership. When you hold treasury paper, it means the government owes you something. When I hold a deed to land, it means I own the land.

So please tell me, how are going to not honor my land deed? Are you going to forge your own and pretend to be the owner of the property? Is the government going to "redistribute" land like they always do in commie revolutions? Are you going to come onto my land and park your Winnebago, pretending that you are the new owner?