View Poll Results: When will the US default on their debt?

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  • They will not default on their debt, they will follow Japans example of long term economic decline.

    5 31.25%
  • The US will default on their debt in the next 5 years.

    4 25.00%
  • The US will default on their debt within 10 years.

    1 6.25%
  • The US will default on their debt in the next 20 years.

    3 18.75%
  • I dont know...

    3 18.75%
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Thread: When will the US default on their debt

  1. #1
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    When will the US default on their debt

    The US is clearly heading in the wrong direction.

    -Budget deficits are record high, 50% of all spending is deficit
    -Unemployment is very high
    -Yet inflation is high
    -Stimulus spending has kept the US economy, the FED have no more tricks left, more stimulus will further devalue the dollar and the US economic stance in the world. Even more reserve will move out of dollar to other currencies, mainly the Euro.
    -The Dollar is extremely low against the Euro, despite all the focus on the Eurosone countries sovereign debt
    -The trade deficit situation has not improved
    -Investments are streaming out from the US into Asia and Europe

    The US is basically facing economic implosion, yet taking on more debt. Or is it taking on more debt knowing the economy will implode?

    US has reached 100% debt compared with GDP. This is only lower than Greece and Italy in the Eurosone, and much higher than the Eurosone average.

    The question then is, when will the US default?
    Europe is illegally occupied by the US

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    Re: When will the US default on their debt

    Hopefully never. The world wide economic effects would be catastrophic.
    PeteEU

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    Re: When will the US default on their debt

    Quote Originally Posted by PeteEU View Post
    Hopefully never. The world wide economic effects would be catastrophic.
    Well prepare yourself then, the U.S. dollar is probably going to loose it's status as the world's default currency. America is the Titanic and at every election for the last few generations all we have been doing is moving the deck chairs around and all the while we are still headed for that iceberg.

  4. #4
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    Re: When will the US default on their debt

    Quote Originally Posted by Maximus Zeebra View Post
    The US is clearly heading in the wrong direction.

    -Budget deficits are record high, 50% of all spending is deficit
    -Unemployment is very high
    -Yet inflation is high
    -Stimulus spending has kept the US economy, the FED have no more tricks left, more stimulus will further devalue the dollar and the US economic stance in the world. Even more reserve will move out of dollar to other currencies, mainly the Euro.
    -The Dollar is extremely low against the Euro, despite all the focus on the Eurosone countries sovereign debt
    -The trade deficit situation has not improved
    -Investments are streaming out from the US into Asia and Europe

    The US is basically facing economic implosion, yet taking on more debt. Or is it taking on more debt knowing the economy will implode?

    US has reached 100% debt compared with GDP. This is only lower than Greece and Italy in the Eurosone, and much higher than the Eurosone average.

    The question then is, when will the US default?
    The US is in no imminent danger of financial collapse. In the long term, there are some fiscal imbalances that will need to be solved: specifically health care, social security, and taxation. But the US isn't going to default anytime soon.

    The weak dollar is a good thing, and will solve the trade imbalance problem (inasmuch as a trade imbalance can even be considered a "problem") because it will make US exports cheaper and US imports more expensive.

    And most of the US government's debt is denominated in US dollars, which means the US will never default if it doesn't want to. The problem with Greece, Ireland, and Portugal is that they're stuck with a currency over which they have no control. That's not the case in the United States.
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  5. #5
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    Re: When will the US default on their debt

    Inflation is average.
    Nobody who wins a war indulges in a bifurcated definition of victory. War is a political act; victory and defeat have meaning only in political terms. A country incapable of achieving its political objectives at an acceptable cost is losing the war, regardless of battlefield events.

    Bifurcating victory (e.g. winning militarily, losing politically) is a useful salve for defeated armies. The "stab in the back" narrative helped take the sting out of failure for German generals after WWI and their American counterparts after Vietnam.

    All the same, it's nonsense. To paraphrase Vince Lombardi, show me a political loser, and I'll show you a loser.
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  6. #6
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    Re: When will the US default on their debt

    Quote Originally Posted by Kandahar View Post
    The US is in no imminent danger of financial collapse. In the long term, there are some fiscal imbalances that will need to be solved: specifically health care, social security, and taxation. But the US isn't going to default anytime soon.
    But there is an imminent danger. The US state debt is much worse than the Eurosone, the deficit is massive, the tendencies are bad, and we are still not putting the loop on indebted individual states and cities with massive debts, local communes and so fourth.
    In addition the populace is very indebted, and firms are massive indebted and running massive trade deficits.

    People are starting to look at this, which is the reasons the dollar is about to be record low against the Euro, even with all the negative focus on the Euro.

    You Americans should fear this quite, because when all your credit lines run out, the biggest shift of wealth in the history of mankind will take place.

    Quote Originally Posted by Kandahar View Post
    The weak dollar is a good thing, and will solve the trade imbalance problem (inasmuch as a trade imbalance can even be considered a "problem") because it will make US exports cheaper and US imports more expensive.
    Yes, this is a good thing to rebalance the economies. Certainly is, but for average Americans, it will be quite hard to adjust to the realities of this situation.
    -You will have to work harder
    -At the same time, you will buy less
    -More of the hard earned money will go back into paying increased taxes and federal debt

    Quote Originally Posted by Kandahar View Post
    And most of the US government's debt is denominated in US dollars, which means the US will never default if it doesn't want to. The problem with Greece, Ireland, and Portugal is that they're stuck with a currency over which they have no control. That's not the case in the United States.
    What? The US will have to default when it cannot live up to its promises. It doesn't matter what denomination the debt is in. If the debt is not payable, then there will be a default situation.

    Greece and Portugal who had currencies they devalued all the time, if they were not in the Eurosone would keep devalue their currencies, avoid reform, and make their populations poorer and poorer just to be able to export more junk.
    Germany for example, their export is increasing, even if the Euro price is increasing. Now that is export that is needed, and an economy that doesnt need. Germany has made some hard core reform, and come out on top. The problem of Portugal and Greece is that they managed to avoid many of the necessary reform, by taking on low interest debt once they were in the comfortable Euro currency.
    Europe is illegally occupied by the US

  7. #7
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    Re: When will the US default on their debt

    Quote Originally Posted by StillBallin75 View Post
    Inflation is average.
    Do you feel it?
    Europe is illegally occupied by the US

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    Re: When will the US default on their debt

    We should wait till Donald Trump is president. I guess we could just ask him what we should do now. He'll want to send Iraq and Afghanistan an invoice for liberating their asses. I think invoices would be sent to lots of countries.

    Before we do anything completely embarrassing.

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    Re: When will the US default on their debt

    Realistically the US has already defaulted on its debt

    The Fed is Reserve and Treas are reportedly buying over 60% of the debt being issued by the federal government. Which in my personal opinion is the equivalent of a government defaulting on its debt

    As for Trump, having gone through bankruptcy a few times he should be able to lead the US through it a few times as well
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    Re: When will the US default on their debt

    Quote Originally Posted by Lord Tammerlain View Post
    Realistically the US has already defaulted on its debt

    The Fed is Reserve and Treas are reportedly buying over 60% of the debt being issued by the federal government. Which in my personal opinion is the equivalent of a government defaulting on its debt

    As for Trump, having gone through bankruptcy a few times he should be able to lead the US through it a few times as well
    He is a multi multi billionaire. Do you think he owes anybody any money? Did he get that money by making bad decisions? Or by making very good decisions. I wish people could get over their jealousies so we can fix this broken country.

    When I go to Europe next time I am not going to show off that I'm American by leaving American cash tips. It's pounds, yen, and rupees for me. It's too embarrassing any more.

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