US debt exceeds 100 percent of GDP
4d 10h ago by lemmy.world/u/tacoplease in politics from thehill.com
Is that the smell of someone being cooked?
Best we can do is a ballroom, oh and a new Middle Eastern war
And the beginnings of our very own holocaust.
I'd venture to guess it's far more than beginnings and we just don't know yet.
Most Germans didn't know anything about the death camps till after the war. and Most countries didn't even know about the true scale until after the camps were liberated.
Don't forget the Arc Du Trump.
Also federally defunded generations of scientists so that other countries will benefit from their expertise, ensuring that other global powers will be leading the charge and reaping the rewards of new, lucrative technologies.
Lot more money and power going byebye for a lot longer than just the current ledger.
don't worry, it will be promptly fixed by firing people responsible for the statistics...
Looking forward to the US collapsing under the weight of its own incompetence.
I'm actually terrified of this. With all it's flaws and even evilness - I/we can't ignore the fact that it was keeping other major powers in check. China would far more likely invade Taiwan and likely whatever else they want, I'm in Baltics so.. Russia won't be so scared to attack it. Shipping lanes and global transportation of goods will no longer be protected by US (where credit is due, they really cared about it, up until Trump), other powers like Pakistan, Turkey and Venezuela might get funny ideas, etc.
Ironically, world without US would look less secure to me
Ironically, world without US would look less secure to me
On the other hand, the world wouldn't have wars and coups, caused by the USA.
Sooo... Currently unstable regions get a bit less unstable and stable regions get to become unstable? I guess we would be nicely averaging out then. Is this us government communist after all? Equality for all, but not the equality anyone desired! :(
/s incase it wasn't obvious
Stable for who though? Stability has not been my lived experience in the states.
Do you honestly believe there would be less wars overall without US? Actually think about this
Yes. Especially within South America.
Really? Venezuela was looking to invade Guyana before US snatched Maduro. There have been no real open wars with US and South excluding ones that can now be considered historical (Ie. Mexico-US war). Panama was quite small.
If the US goes down, they won't be able to NIMBY over South America. Those countries can rise to prominence on the world stage.
Yeah, because the US military is just going to vanish if the government collapses.
All those aircraft carriers, nuclear subs, and land based missiles will just leave.
Gotta pay and feed your soldiers and sailors and pilots to keep that military running.
Good news, we won't have to feed them with tax dollars. Bad news is the people building data centers that are part of a kill chain are now feeding the soldiers
The US military will be too busy with power struggles to care about South America.
They'll likely be subdivided between costal states and be scrapped. A lot of that shit is non-viable to maintain if you aren't the US, if memory serves right aircraft carriers are generally built in Maine for example kinda doubt South Carolina has the infrastructure to maintain one.
Mind you that's assuming a lot of things going a relatively specific way but I can't imagine even a reduced federal government maintaining any of the fleets.
South Carolina might not have the ships, but we got the nukes lol
My point was moreso that no individual state would have the resources or even infrastructure to properly maintain the various ships in the US Navy. I suspect that for any who would try (assuming new federations and unions don't pop up) would basically be stuck with the same issue as Russia with that one aircraft carrier.
I was trying to play into it in a more macabre manner. I was hoping to imply that in the event of the collapse of the US, the states would go free for all and protect resources. I have no doubt that South Carolina would try to keep as many weapons as we manufacture. It's a fun hypothetical to think about. The level of chaos that would ensue. It's fascinating, really.
I, too, am actually terrified of this yet still looking forward to it.
we can’t ignore the fact that it was keeping other major powers in check
But otoh it was also always the major power stirring the pot, and more so recently. So much that that argument doesn't hold anymore imo.
Is it possible that your security is unsustainably expensive and comes from the exploitation of human rights in other places? Why was it necessary for the people of Afghanistan, Iran, Iraq, Syria, Yemen, Somalia, Nigeria, Libya, and others, to pay for your perceived security?
I also find it hard to believe that China has had little military engagement for the last 25 years because it's worried about the US. Up until 5 years ago it was the US's top foreign Treasury security owner.
I've read before that the US couldn't realistically defend the Baltics from a ground invasion due to distance. It could only re-capture it afterwards. Your best bet is a strong Europe (Germany, Poland) that can actually provide assistance if Russia decides to invade the Baltics.
Yes, the world without the US would create a massive power gap and instantly cause multiple wars everywhere. Also I don't know of a country who has the geographical characteristics and the will to pick up US naval protection. The US is kind of unique in that aspect. China doesn't want to do it, and their geography limits them to a degree. I'm worried about the Pakistan-India-Chinese feuds as these countries kind of hate each other and have nuclear weapons.
With that being said, it's very unlikely that the country will explode due to its debt issues. It will definitely hurt the average person's well being with higher interest rates and inflation, though.
Same
usa entering their dying mall phase. cant wait to go to the spirit halloween at the lincoln memorial
It doesn't sound so bad. If the average person was a country, buying a house would put their debt at over 1000% of their GDP.
yep. I'm curious what kind of country I'll be living in after. We all see ourselves as American (those of us who are such) but certainly we'd crack up into a few countries. It's always the disccussion of "It's going to collapse! It's going to collapes!" We should seriously be talking about what the region is going to look like AFTER the collapse and what we can do to prepare for it now.
If for no other reason than the ability to do so would be gone while the reformation happens.
The project Squeezing America Dry (formerly Draining the Swamp) is complete.
The Great American Fire Sale isn't over yet.
And still have triple AAA rating 🤔
This seems like a very big deal, but I'm no financialologist
Yes. Us.
Israel has the US to fund their economy. The US will need a similar sponsor to turn up or fail in the worst possible manner (if it isn't already too late).
Maybe we shouldn't spend so much on the military then
Yup, definitely fulfilling the MAGAt fever dream of his running the country like his businesses, which is into the ground.
I would sincerely like to know what he hasn't run into the ground... other than his current Wife since I haven't seen anything yet about her being found dead of an accidental fall yet.
On federal level the deficit is actually the sum of wealth the US gov injects/ed into its economy. There is no such thing as 'my taxdollar' on fed level. The gov proposes policy, congress ok's it and FedRes pays the bills. Through creation of new money from the 12 magic computers Elon discovered during his doge tenure.
Not so on state level: states have no monopoly over a currency and have to hold up their own pants or go bankrupt. 'My taxdollar' absolutely applies on state level.
Source: MMT/Sectoral Balances
The United States casino.
I'm not going to argue this is good, but debt isn't bad either. If you're taking on debt to invest in the future, it's a good idea if the expected returns are greater than the cost + interest, which it often is for the state. That's an easy balance to make.
However, investing in missiles and shit, which are expended, is fucking stupid. You pay to build them, they cause damage (which is negative gain usually), and then they're gone. If you invest in education, healthcare, or infrastructure, it's easy to be positive. It's crazy that's so hard to get done.
Land of the free! Just not free of debt though nobody is I suppose.