Popular Post cgoodrich Posted August 15, 2021 Popular Post Share Posted August 15, 2021 Was sent this on LinkdIn. While a little dated considering the US debt is higher, it paints a perfect picture. Change your home country, the national currency, and the relative numbers, and it applies to all. Makes me absolutely sick! 11 Link to comment Share on other sites More sharing options...
Popular Post Chibearsv Posted August 15, 2021 Popular Post Share Posted August 15, 2021 If my family could print money, problem solved! 🤑 5 Link to comment Share on other sites More sharing options...
MrBirdman Posted August 16, 2021 Share Posted August 16, 2021 The sewage metaphor is inaccurate. The sewage would be the national debt, not the deficit. You can't remove the shit until you stop the flow. The metaphor really should be whether you'll raise the ceiling or allow your house to explode and ruin the whole neighborhood (which is a good proxy for what would happen if the US defaulted). 2 1 Link to comment Share on other sites More sharing options...
cigaraholic Posted August 16, 2021 Share Posted August 16, 2021 Who’s been crazy with the credit card? 1 Link to comment Share on other sites More sharing options...
Popular Post Islandboy Posted August 16, 2021 Popular Post Share Posted August 16, 2021 2 minutes ago, cigaraholic said: Who’s been crazy with the credit card? Clearly there’s a cigar fanatic in the household. 7 Link to comment Share on other sites More sharing options...
Popular Post Monterey Posted August 16, 2021 Popular Post Share Posted August 16, 2021 1 hour ago, Lrabold89 said: I wonder who’s to blame …. Sent from my iPhone using Tapatalk Pretty much everybody. I can't think of anyone who hasn't contributed. We vote in the politicians who do it, but if they cut anything that impacts us, we vote them out. Lovely system. 7 Link to comment Share on other sites More sharing options...
cgoodrich Posted August 17, 2021 Author Share Posted August 17, 2021 11 hours ago, therealrsr said: I remember this going around some years back, very dated unfortunately. US National Debt 28.6 trillion US federal deficit (new debt) 3.1 trillion Yes, that is why I said it was dated. But it still paints the picture of irresponsible spending and budget management for the Federal Govt. Makes me want to 🤮 Link to comment Share on other sites More sharing options...
Hookmaker Posted August 17, 2021 Share Posted August 17, 2021 The sewage metaphor is inaccurate. The sewage would be the national debt, not the deficit. You can't remove the shit until you stop the flow. The metaphor really should be whether you'll raise the ceiling or allow your house to explode and ruin the whole neighborhood (which is a good proxy for what would happen if the US defaulted).You could if you’re fast at shovelling shitSent from my iPhone using Tapatalk Link to comment Share on other sites More sharing options...
BrightonCorgi Posted August 17, 2021 Share Posted August 17, 2021 Great post if you have anxiety or vertigo Link to comment Share on other sites More sharing options...
ReturnFreeRisk Posted August 17, 2021 Share Posted August 17, 2021 National debt including Social Security and Medicare obligations is closer to $123T all in. To put that in perspective the total net worth of every household asset in the country is likely now in the $150T rangeIts also interesting to me when talking big numbers that people often neglect to think through that a billion is 1000 millions, and trillion is 1000 billion…just staggering when you start to break it down. Throwing the T word around like its nothing nowSent from my iPad using Tapatalk 3 Link to comment Share on other sites More sharing options...
cgoodrich Posted August 18, 2021 Author Share Posted August 18, 2021 11 hours ago, therealrsr said: Agreed, it was a good post and I feel the same impulse to vomit. I was updating to show the irresponsibility has grown to 2x in a short time. No dis meant at all. None taken my friend. Your point is so very valid. Be well, be safe! 1 Link to comment Share on other sites More sharing options...
Tremuzatu Posted September 27, 2021 Share Posted September 27, 2021 The debts of some countries are so big. I don't even understand how they can pay such considerable sums. I remember when I was full of debts. It was the most challenging period in my life. I was using different methods of how to pay off debts quickly. From my experience, I can say that discipline is the most important thing. It will help you to make a plan of how to pay the debts and to follow it. I was saving money on everything I could and tried to pay the maximum amount of money I was able monthly to get rid of debts as fast as possible. 1 Link to comment Share on other sites More sharing options...
Popular Post Ryan Posted September 27, 2021 Popular Post Share Posted September 27, 2021 Every country has national debt, it's not just US policy. Please don't let this thread become a US political thread. Household or personal debt is not the same as national debt. It depends how the money is invested. I was just listening to a TED talk last week discussing an alternative way of looking at national deficits. I'm sure not everyone will agree with it, but maybe worth considering. For the record, I know a few economists, some of whom have worked at a national level as policy advisors. Based on my conversations with them, it's all guessing! 8 2 Link to comment Share on other sites More sharing options...
Fuzz Posted September 28, 2021 Share Posted September 28, 2021 15 hours ago, Ryan said: Every country has national debt, it's not just US policy. Please don't let this thread become a US political thread. Household or personal debt is not the same as national debt. It depends how the money is invested. Whaddya talking about? I just started printing my own money the other week, it's working great so far! Link to comment Share on other sites More sharing options...
cnov Posted September 28, 2021 Share Posted September 28, 2021 On 9/27/2021 at 3:59 PM, Ryan said: Every country has national debt, it's not just US policy. Please don't let this thread become a US political thread. Household or personal debt is not the same as national debt. It depends how the money is invested. I was just listening to a TED talk last week discussing an alternative way of looking at national deficits. I'm sure not everyone will agree with it, but maybe worth considering. For the record, I know a few economists, some of whom have worked at a national level as policy advisors. Based on my conversations with them, it's all guessing! Great watch. Some really interesting points. Link to comment Share on other sites More sharing options...
DeskSmkr Posted September 28, 2021 Share Posted September 28, 2021 @Ryan Interesting point of view, thank you Link to comment Share on other sites More sharing options...
Cairo Posted September 28, 2021 Share Posted September 28, 2021 On 9/27/2021 at 10:59 AM, Ryan said: I'm sure not everyone will agree with it, but maybe worth considering. I agree with her main point "it matters how the money is spent....". However, modern western societies have made it very difficult to build infrastructure that has a high return on investment for the economy. Those of us who have worked on major construction projects can list the incredible number of federal, state and local regulations that impede development of anything--and while some of those regulations have more merit than others--the bottom line is that most infrastructure money ends up in the hands of consultants, lawyers, architects and engineers, environmental experts, surveyors etc etc etc...and as often as not the project never gets done at all. I am a bit gloom and doom, and I think we have entered the "event horizon" of collapse--where we can move in all different directions at all different speeds, but at the end of the day the result is the same.... 2 Link to comment Share on other sites More sharing options...
avaldes Posted September 28, 2021 Share Posted September 28, 2021 Worth reading about the history of the debt ceiling for some perspective: https://en.wikipedia.org/wiki/History_of_United_States_debt_ceiling Link to comment Share on other sites More sharing options...
GavLew79 Posted December 24, 2021 Share Posted December 24, 2021 So if the US is borrowing money, and we're (UK) borrowing money, and you're borrowing money (insert any country), who's doing all the lending against a promised future payback? Who are the creditors? I used to think China. But isn't China's economy in the toilet as well? Link to comment Share on other sites More sharing options...
RichG Posted December 24, 2021 Share Posted December 24, 2021 Existence is a Ponzi scheme…act accordingly. 1 Link to comment Share on other sites More sharing options...
BrightonCorgi Posted December 24, 2021 Share Posted December 24, 2021 3 hours ago, GavLew79 said: So if the US is borrowing money, and we're (UK) borrowing money, and you're borrowing money (insert any country), who's doing all the lending against a promised future payback? Who are the creditors? I used to think China. But isn't China's economy in the toilet as well? I wonder when a country like US, etc defaults on interest payments decides to walk away from the debt. What can those who hold the debt really do? Might be worth the States doing so. Poor credit rating as a nation may be better than the huge amounts of debt the States will never be able pay off. Link to comment Share on other sites More sharing options...
BEVOSREVENGE Posted January 4, 2022 Share Posted January 4, 2022 On 12/24/2021 at 4:06 AM, GavLew79 said: So if the US is borrowing money, and we're (UK) borrowing money, and you're borrowing money (insert any country), who's doing all the lending against a promised future payback? Who are the creditors? I used to think China. But isn't China's economy in the toilet as well? Link to comment Share on other sites More sharing options...
... Posted January 4, 2022 Share Posted January 4, 2022 Household debt is incurred by spending your own money faster than you can make it. National debt is incurred by spending other people's money faster than they can make it. The incentive to better manage the expenses is not the same... 1 Link to comment Share on other sites More sharing options...
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