You just can't comprehend money are only worth anything if backed, and USD is backed by China.
Miscellaneous News
- Thread starter bd popeye
- Start date
They will lower the rates that will have some effect.
Personally, I disagree. Why is the burden on the rest of the users to ignore blatant misinformation, misrepresentation, and out right lying. This isn’t like Reddit where downvoted comments is automatically collapsed or YouTube where it gets buried under 50 tons of generic comments. Every single post accounts for 10% of a page and that adds up quickly with the amount of stuff that is posted.
If the forum ignored the “China start ups total collapsed” and didn’t post rebuttals. Especially on posts that are completely fictional. Then the visitors who are less active, less informed, or don’t care as much will eventually start believing that as the truth. Because if no one is refuting or rebutting then why should they believe otherwise.
No: there are two measures of the national debt: “total debt held by the public” and “total debt held by the public combined with intergovernmental holdings”. The latter includes debt owners by social security, Medicare, and federal employee retirement pensions
Combined US state and local debt is ~$3.3 trillion, nearly entirely asset backed (think of something like a sewer system paid for entirely with water bills from users)
In old days Hongkong and perhaps in Shanghai's infamous Foreign Concessions Area the Brits hired alot of Sikhs for their guards in their designated areas-"moh-loh-chas" in Cantonese vernacular-despicable trash.
And China is only backing it to put more global south countries into its sphere by offloading huge USD surpluses on them either directly with acquisitions or through covert buyouts.
So truly the only ones being fucked is the middle and low income basket case nations, who are always believing what both US and China says at face value.
Just a note in bad old days of Chinese railway workers etc circa 1875-1940 Chinese food was despised along with the migrant coolie level workers-"rat eaters" etc-After Korean War-where a young nascent China fought a superpower&10 nation coalition to a bloody draw- the Chinese restaurants took off and now quite respected/loved-As your nation/people prosper/strengthen so does cuisine and everything else.
Last edited:
antiterror13
Brigadier
29% of US debt is owned by foreigner .
Many do the good family,community structured tasks and many older healthy individuals still work odd jobs and part time to supplement incomes and keep busy.
You just can't seem to comprehend the concept that money isn't wealth, it's only a measurement of wealth.
National debt is an opportunity cost, when the Feds borrow $100 and give it to someone to hire 10 guys to dig a hole, there exist something else that the 10 guys could have done but didn't, the damage is already done at the moment of borrowing, not at the moment of non-repayment.
When you repay the debt, you're repairing the damage already done, if you repay $110 on $100 of debt, it's not the $10 you created, it's the opportunity for 1 extra person to do something else he previous had to spend digging a hole. Conversely not paying the debt doesn't incur any direct harm, because the harm was already done when something else that needs the 10 people to do wasn't done, because they were digging your hole.
That's the nature of US debt, US can't afford infrastructure because the people and resources needs has already been used in something else, paid for by debt. US can't afford to build ships or weapons because the people and resources needed has already been used. When interest payment exceeds defence budget, that's not a statement says US has to find $1 trillion in dollar bills, it's a statement that says the amount of people willing and able to do things has been depleted sufficiently that more and more of society's resources now need to be allocated into repairing damage already done, as opposed to creating new value.
Its Chinese industry that creates value and it's China's acceptance of USD for trade that gives USD value, because China can still use that USD to exchange things of real value from someone else. It's this Chinese wealth creation that's repairing damage already done by American trade debt, but China can't and won't repair any damage already done by mis-allocation of wealth when it comes to American domestic debt.
Last edited: