Everyone is in a stadium. The red team verses the blue team and each side is cheering their team on. However Godzilla is outside the stadium smashing cars, getting ready to breathe fire on the stadium. The Godzilla I'm referring to is the Debt. Regardless of whether wins the Debt is going to crush us. The government is spending more than it takes in in taxes. The interest being paid to finance the debt is larger than the budget for the Defense Department. When the money goes, everything goes.
Debt isn't magic, it's just words on paper. It does represent a trade deficit, which in turn represents a declining productive capacity, which will eventually make the U.S. irrelevant if its trajectory continues, but there isn't some threshold where the debt is too high and everything somehow stops.
Remember that the Minsk Accords - a treaty related to outright *military* affairs - was casually violated, and the SWIFT system was politicized, both by the U.S. and its proxies, and neither brought about the end of all things. The former, of course, resulted in an invasion of the Ukraine, but that would hardly have been an issue if it hadn't been bungled by the U.S. - Russia's initial peace offer was pretty harmless, and amounted to a return to the status quo. The latter lead to increased international skepticism, but, again, no immediate, catastrophic consequences.
Instructions unclear. Tea leaves aflame, smoke detectors chirping.
Everyone is in a stadium. The red team verses the blue team and each side is cheering their team on. However Godzilla is outside the stadium smashing cars, getting ready to breathe fire on the stadium. The Godzilla I'm referring to is the Debt. Regardless of whether wins the Debt is going to crush us. The government is spending more than it takes in in taxes. The interest being paid to finance the debt is larger than the budget for the Defense Department. When the money goes, everything goes.
Debt isn't magic, it's just words on paper. It does represent a trade deficit, which in turn represents a declining productive capacity, which will eventually make the U.S. irrelevant if its trajectory continues, but there isn't some threshold where the debt is too high and everything somehow stops.
Remember that the Minsk Accords - a treaty related to outright *military* affairs - was casually violated, and the SWIFT system was politicized, both by the U.S. and its proxies, and neither brought about the end of all things. The former, of course, resulted in an invasion of the Ukraine, but that would hardly have been an issue if it hadn't been bungled by the U.S. - Russia's initial peace offer was pretty harmless, and amounted to a return to the status quo. The latter lead to increased international skepticism, but, again, no immediate, catastrophic consequences.
“after nine years”. time flies.
The best that can be said about this is it’s uninformed. Follow Richard Baris.