The Road to Zimbabwe
The Federal Reserve System now owns nearly 30% of the US national debt, purchasing bonds from domestic holders of that debt, and is now the biggest single holder of that debt. When government begins to become the biggest buyer of its own debt, that's a strategy referred to as "monetizing the debt," printing money to cover the purchases.
Using past history as an example, the Weimar Republic of Germany tried that approach, causing runaway inflation, with the image of Germans carrying wheelbarrow loads of Marks to purchase food. Zimbabwe is the current example, with images of printed money in $100M issues that are worth only a few pennies.
Japan has been monetizing its debt for some time, and now has a national debt that's over 250% of its GDP. Once the payment on that debt reaches a point where it becomes obvious that the country can't even make the interest payment from revenues received, the country is bankrupt, and Japan is nearly there.
US national debt is now more than 120% of our GDP, and the interest payment is now more than the defense budget. We've been skating on the thin ice of low interest percentages, but even a few percentage points rise would be a crippling burden on our economy. We desperately need leadership that recognizes the pending disaster and aims for a balanced budget.
Using past history as an example, the Weimar Republic of Germany tried that approach, causing runaway inflation, with the image of Germans carrying wheelbarrow loads of Marks to purchase food. Zimbabwe is the current example, with images of printed money in $100M issues that are worth only a few pennies.
Japan has been monetizing its debt for some time, and now has a national debt that's over 250% of its GDP. Once the payment on that debt reaches a point where it becomes obvious that the country can't even make the interest payment from revenues received, the country is bankrupt, and Japan is nearly there.
US national debt is now more than 120% of our GDP, and the interest payment is now more than the defense budget. We've been skating on the thin ice of low interest percentages, but even a few percentage points rise would be a crippling burden on our economy. We desperately need leadership that recognizes the pending disaster and aims for a balanced budget.
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Who got left holding the bag in Zimbabwe and in Weimar Deutschland?
Me dino saw that on Fox News a long, long time ago.
But some statements are so absurd that they become unforgetable.
Then a rigged election made this flawed piece of work our (p)resident~~~
mine keeps having problems after problems
with no clear cause
Now...We seem to be racing to WW3 before the election...as some stupid way for the party that's in power, claims to want to "save democracy" actually destroy it.
I've noticed something in my work with other organizations staffed with younger people (contractors, mostly). Doing everything wrong is the new norm. Everything is screwed up, even when we start with a clean slate. I've had professionals promise me that we can do something a certain way completely back out on that statement later with zero consequence. Lying, miscalculations, improper methods and materials...all the expected norm. Wasn't like this when I was a young engineer starting out. I was expected to be on my game or I was gonna hear about it. That's all gone now...Totally reminds me of A.S....
those doing this are beyond insane
that includes the voters and politicians voted from by idiots and parasites