Its a thing, being in denial, a thing we all do to a greater or lesser extent.
Obama saying he ain’t shifting, so if the republicrats stick to their guns too the US may default on it’s debt obligations on the 17th…. and…? It’s not like the US *****CAN***** pay off it’s debts even if it wanted to, it is literally underwater, and all a debt ceiling raise will do is the same thing as loaning some sucker who is underwater on his McMansion even more money, so they can make another few mortgage payments…
It doesn’t reduce the margin by which they are ****ABLE**** or ***EVER WILL BE*** to settle the debt they owe…
Of course, this can only possibly end one way, captain calamity, total collapse of the US economy and world war drei, as everyone knows, but, everyone is living in denial.
There are basically two forms of currency.
When the US$ was backed by gold it was a representative currency, when it gold standard was abandoned it became a fiat currency, and the great think about fiat currencies is you can run the printing presses 24/7
The above statement in red is living in denial.
There is a third form of currency, and it is the sort we all use every day, and that is a purely electronic currency, the few remaining notes and coins are merely fiat tokens of said electronic currency.
An electronic currency doesn’t even need a printing press or ink, just one person to type at one keyboard
10 FOR X=1 to 1000000
20 OPEN $FED_TOTAL_MONEY_SUPPLY FOR INPUT
30 INPUT +1000000000
You can do that other shit too
10 OPEN $FED_TOTAL_MONEY_SUPPLY FOR INPUT
20 INPUT (DIVIDE BY 1000)
30 OPEN $CURRENCY=”DOLLAR” FOR INPUT
40 INPUT $CURRENCY=”NEWDOLLAR”
(apologies to all the coders for the nonsensical code)
At a stroke I can replace 1,000 “old” dollars with 1 NewDollar.
That wad of used twenties 6 inches high is now worthless, that sweet half a mill stashed in your retirement fund account is now a mere 500 NewDollars
Don’t say it can’t be done.
Don’t say it won’t be done.
Don’t say ANYTHING without looking at at exponential curve, which is what, by definition, interest is, which means interest on the national debt etc etc…..
Two things make that exponential growth ramp up.
So, by definition, only two things can pull that exponential growth back to the shallower slopes of the curve.
- Lowering the rate of interest
- Substituting a much lower amount borrowed.
Lowering interest rates has been done up the wazzoo, you can’t go lower than fuck all.
The only trick left? Yup, divide the number showing the amount borrowed, and by a big chunk, divide by 10 is pointless, unlike interest rates this is a trick you can only pull once a generation, 100 ain’t enough, it will only buy a year or two, but divide by a thousand… now we’re talking.