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Broache73 · 51-55, F
Everyone is feeling it.

On top of the Social chaos, the Cost of Living is crushing. Housing in major Cities is absurd. Grocery Bills keep climbing. Healthcare is a Financial catastrophe for anyone without Employer coverage— and increasingly for those with it. Retireeson fixed Incomes are watching their Purchasing Power evaporate.

It's only going to get worse. The US National Debt surpassed $39 Trillion. The Congressional Budget Office projects $24.4 Trillion in additional Deficits over the next decade. That means skyrocketing Inflation and Taxes.

Wealth Taxes, that's the playbook when Governments run out of money. The US Government is running out of money faster than almost anyone can say Deficits, Debt, and Dependency.

All I ask the American Voters, Taxpayers, and Consumers is; What's your breaking point?! When are you going to stop making excuses for yourselves and what you know in your heart is indefensible?!
whowasthatmaskedman · 70-79, M
@Broache73 Sorry. The real break point has come and gone. The rabid borrowings of previous administrations have undermined the sanctity of the $US globally and that effect has already peeled 10% off the domestic value of said $. If you dont believe me, look at the price of real estate and gold.
The $US is losing its grip in the Reserve currency, with the EU and BRICS nations now making up more than half of global trade and bypassing the $US completely. And that trend continues, with the majority of US trading partners now selling off their T bonds in a orderly manner to preserve their value. Soon America itself will not be able to pay for imports without purchasing Euros, Yuan, gold or Bitcoin to pay for them..
But this will more likely be the death of a thousand cuts, than a single event. The US will fade to become a regional power, in the same league as its neighours, rather than to disappear in a puff of smoke and "walking dead" scenes.
Trump, however is doing his best to see the place go out with a bang..😷

whowasthatmaskedman · 70-79, M
The bottom line is that the nation has been living beyond its means for decades. Early on, the citizens actually benefited, because it was other nations that footed the bill by buying US debt. What they got was a higher standard of living than the output and revenue of the nation really entitled them to. (Although I am sure no one told them it was borrowed money.) But now the debt has become obviously toxic after the Global financial crisis and the Fed has had to increasingly rely on a few loyal allies, plus Americas own banks, financial institutions and pension funds to pick up the treasury bonds that the world now see as risky.. The numbers say that these other nations are right to be concerned. The numbers say the $US is overvalued now and that value is falling..And there isnt a lot the Fed can do beyond printing more money and messing with interest rates. Lowering them as Trump wants means more inflation. Raising them as conventional wisdom demands means recession on top of recession. And in 20 to forty years when those long term investments and employee pensions come to pay off, the million dollar balances wont buy ten years of living expenses..
And I dont see a way out of this for most Americans..😷
GerOttman · 70-79, M
Kinda been going on for quite awhile actually. We spend like a 17 year old girl with daddy's platinum card. Daddy's broke!
whowasthatmaskedman · 70-79, M
Anyone who can manage high school arithmetic could work those numbers from public documents. I regard this as a commentary of American education. Both that Americans didnt do just that. And also they werent taught the critical thinking skills to go looking..😷
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Death on the highway is required for the stinking rotting Empire of lies. Green energy can't work there in the empire. There's no future. Good riddance.
Broache73 · 51-55, F
@Roundandroundwego
No Kidding! Gen Z has found this out, and rightfully so they're pissed off. There are Promises that will not be delivered, and there are no Goods to be paid for.

 
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