Mandatory balanced budget amendment so Congress is
Forced into fiscal discipline.
I feel like it's the fox guarding the henhouse tho. Don't see how they could ever get it over the finish line.
The entire world goes bankrupt if America goes bankrupt. Too Big To Fail Scenario IMO. It will be the Great Depression worldwide 2.0 if the U.S. economy ever collapsed.Kyle Field Shade Chaser said:
So what happens when America goes bankrupt?
jpb1999 said:
My question as well. What do normal people do with their money to help hedge this?
Cant afford to. Expanding the money supply any further via currency creation of any manner adds even more interest on the debt and leverages more existing money in the system, and banks are not healthy. The choices are hyperinflation or default.BQ78 said:
Print money and inflate it away. You think gas prices are high now, wait for California prices in Oklahoma and Texas before the tax is applied
Tom Fox said:
I agree with this. But I am buying property instead of gold or crypto.
I don't. It is all of the entitlements. They have to stop.Aggiecadet said:And we wonder why America keeps getting into debt, people can't afford groceries, and the whole world hates us. pic.twitter.com/FI91AsqNCU
— Declaration of Memes (@LibertyCappy) July 26, 2024
And we wonder why we are in so much debt
Hey, T bill interest rates are pretty salty right nowitsyourboypookie said:
Boomers love t bills
Boomers gonna learn today
Wow, is that the dumbed down content Gen Z is watching these days?Aggiecadet said:And we wonder why America keeps getting into debt, people can't afford groceries, and the whole world hates us. pic.twitter.com/FI91AsqNCU
— Declaration of Memes (@LibertyCappy) July 26, 2024
And we wonder why we are in so much debt
TexAgs91 said:Wow, is that the dumbed down content Gen Z is watching these days?Aggiecadet said:And we wonder why America keeps getting into debt, people can't afford groceries, and the whole world hates us. pic.twitter.com/FI91AsqNCU
— Declaration of Memes (@LibertyCappy) July 26, 2024
And we wonder why we are in so much debt
TexAgs91 said:Wow, is that the dumbed down content Gen Z is watching these days?Aggiecadet said:And we wonder why America keeps getting into debt, people can't afford groceries, and the whole world hates us. pic.twitter.com/FI91AsqNCU
— Declaration of Memes (@LibertyCappy) July 26, 2024
And we wonder why we are in so much debt
We're not in debt because we bombed those countries. Why even show something like this?Aggiecadet said:And we wonder why America keeps getting into debt, people can't afford groceries, and the whole world hates us. pic.twitter.com/FI91AsqNCU
— Declaration of Memes (@LibertyCappy) July 26, 2024
And we wonder why we are in so much debt
What would the US economy be like if we let bad actors in the world run unfettered, for one. That is most definitely a factor and completely ignored here.Helicopter Ben said:TexAgs91 said:Wow, is that the dumbed down content Gen Z is watching these days?Aggiecadet said:And we wonder why America keeps getting into debt, people can't afford groceries, and the whole world hates us. pic.twitter.com/FI91AsqNCU
— Declaration of Memes (@LibertyCappy) July 26, 2024
And we wonder why we are in so much debt
That may be dumbed down, but I'm not sure what your point is. Military spending is out of control just like everything else. The trillions we've spent on these useless wars is almost 100% waste. I would argue that's the first place to start cutting. While the elephant in the room is social security and Medicare, at least those things directly benefit American citizens. They should be number 2 on the chopping block.
Feelzrwtxag83 said:We're not in debt because we bombed those countries. Why even show something like this?Aggiecadet said:And we wonder why America keeps getting into debt, people can't afford groceries, and the whole world hates us. pic.twitter.com/FI91AsqNCU
— Declaration of Memes (@LibertyCappy) July 26, 2024
And we wonder why we are in so much debt
So in 1971, Nixon made it so that you could no longer exchange dollars for gold.Logos Stick said:
FDR ended the gold standard for domestic transactions.
"84 years ago, on April 20, 1933, the United States abandoned the gold standard, delinking the value of the dollar to gold. The person responsible for that was President Franklin D. Roosevelt, who had urged Congress to take up reform of the currency system in January that year."
we have literally been discussing this EXACT issue several times in the last few months on this boardjpb1999 said:
My question as well. What do normal people do with their money to help hedge this?
LMCane said:we have literally been discussing this EXACT issue several times in the last few months on this boardjpb1999 said:
My question as well. What do normal people do with their money to help hedge this?
I created an entire thread about it.
buy gold.
get a second passport
move your assets to a secure bank overseas
Helicopter Ben said:TexAgs91 said:Wow, is that the dumbed down content Gen Z is watching these days?Aggiecadet said:And we wonder why America keeps getting into debt, people can't afford groceries, and the whole world hates us. pic.twitter.com/FI91AsqNCU
— Declaration of Memes (@LibertyCappy) July 26, 2024
And we wonder why we are in so much debt
That may be dumbed down, but I'm not sure what your point is. Military spending is out of control just like everything else. The trillions we've spent on these useless wars is almost 100% waste. I would argue that's the first place to start cutting. While the elephant in the room is social security and Medicare, at least those things directly benefit American citizens. They should be number 2 on the chopping block.
It was bothjpb1999 said:
It's not. That happened in the 30s under FDR.
When WWII was won by the west, and we started to recover from the depression, the first attempt at a world financial model put in place by the victors, with us at the top of the chain, was the gold standard. But under a gold standard, a country that devalues its currency gets punished quickly. By leaving the gold standard and moving to 100% fiat, with the petrodollar as the new reserve currency, America could essentially fund its own growth through currency devaluation at the expense of the rest of the world who relied on dollars to transact.Quote:
The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932[url=https://en.wikipedia.org/wiki/Gold_standard#cite_note-1][1][/url][url=https://en.wikipedia.org/wiki/Gold_standard#cite_note-:9-2][2][/url] as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold,
Phatbob said:Anyone who grew the federal government gets the blame. Anyone who votes for them gets the blame.HollywoodBQ said:
I get FDR for Social Security and Nixon for the Gold Standard.
But shouldn't LBJ get the blame for Welfare?
Bush 43 for endless war in Iraq, Afghanistan and of course the subprime bailout during the GFC.
Obama for Healthcare.
And in this election year, Trump for shutting down the world and printing money during Covid?
For one, if you have US dollars they will be worth next to nothing.Kyle Field Shade Chaser said:
So what happens when America goes bankrupt?
They just get told bad boy, and keep running just like normal the same as all the big business that go bankrupt and stay in business?