BrianC wrote: paying back that debt is consuming an ever-greater amount of the tax revenue needed to keep schools open, provide electricity and pay for food and fuel.
Plantagenet wrote:According to Joe Biden the solution is to just increase your debt limit, and then borrow more money in order to pay the interest on the money you already owe. Sure the debt goes up even higher that way, and the interest payments get bigger and bigger every year, but thats OK--- the next time you can just borrow more money again. And again. And again. What could go wrong?
AdamB wrote:Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years
dozen countries most indebted to China... paying back that debt is consuming an ever-greater amount of the tax revenue needed to keep schools open, provide electricity and pay for food and fuel... Behind the scenes is China's reluctance to forgive debt and its extreme secrecy about how much money it has loaned and on what terms, which has kept other major lenders from stepping in to
Plantagenet wrote:AdamB wrote:Donald Trump Built a National Debt So Big (Even Before the Pandemic) That It’ll Weigh Down the Economy for Years
And Joe Biden Built the National Debt even bigger to weigh the economy down for even longer......
There's no way around it.....we've got a debt problem.
Plantagenet wrote:So what should the US and these other countries do??
Plantagenet wrote:Joe Biden says the only possible solution is to borrow even more money and create even more debt to pay the interest on the existing debt....thereby increasing the debt even further and interest payments even more down the road.
theluckycountry wrote:The Media can't say the truth, they have to come out with these BS stories
ralfy wrote:It was only decades later that G-7 began to forgive loans, just as the credit that they were providing to the world economy decreased. Now, they want China to do what they could not immediately.
Plantagenet wrote:theluckycountry wrote:The Media can't say the truth, they have to come out with these BS stories
The media spews a lot of BS stories, but the story about the Chinese making huge loans to third world countries and then using them to gain control over the resources of those countries is totally true.
I've seen it myself in multiple African countries... half-baked tribal-Socialist governments, and suddenly you come upon some wildly out-of-scale infrastructure that makes absolutely no sense.
Cheers!
ralfy wrote:https://www.politico.com/news/2023/04/11/china-lending-imf-world-bank-00090588
China operates like any commercial bank: requires collateral, and calls in loans.
But G-7 through the U.S. and the IMF-WB did something else, i.e., structural adjustment: it provided aid and loans with strings attached, i.e., the borrower had to raise taxes, decrease government spending
theluckycountry wrote: They call Putin an Oligarch, what a joke.
theluckycountry wrote:
The US should pull a USSR style collapse (if they were smart) and write off all those liabilities and start from a more rational base. But the US isn't smart.
Plantagenet wrote:The US is plenty smart.....we just happen to have an elderly and mentally challenged president at the moment
mousepad wrote:Plantagenet wrote:The US is plenty smart.....we just happen to have an elderly and mentally challenged president at the moment
you're funny. The "plenty smart US" voted for the mentally challenged in the first place.
mousepad wrote:My neighbor voted for Sleepy. No wonder there, he also thinks 1+2 * 3 = 9. Plenty smart, them demwit voters.
mousepad wrote:Can't a nation that builds aircraft carriers and subs and put a man on the moon come up with some good politicians?
mousepad wrote:Maybe banana bending is the future of america.
Plantagenet wrote:
You paint with too broad a brush.
The US is plenty smart.....we just happen to have an elderly and mentally challenged president at the moment who doesn't know what is going on.
mousepad wrote:Can't a nation that builds aircraft carriers and subs and put a man on the moon come up with some good politicians?
...For starters, feces were found far more often in commercial sectors, covering "approximately 50% of street segments in Key Commercial Areas and 30% in the Citywide survey," second only to broken glass as can be seen in the 'illegal dumping' section.
theluckycountry wrote:And that's why your stupid, or dumbed down. All you can do is think in election cycles. and every-time a new president is elected you blame him for all the woes of the nation and forget all about the last ones.
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