Politics & News

Only logged in members can reply and interact with the post.
Join SimilarWorlds for FREE »

America’s debt crisis. Even larger spending deficits are looming. What if we had been allowed to choose our own fate?

Photo above - John Wick, America's favorite vigilante. He is NOT presumed to be part of the "Bond Vigilantes" behind this month's crash of T-Bills, however.

Word of the day: “Bond Vigilantes”. This is Wall Street's term for bond traders who don’t like out of control US budget deficits. (see Fortune Magazine link, below). When we call someone a vigilante, do we tacitly admit that those responsible for law enforcement are ineffective? Or is vigilante used as an epithet, to cast aspersions on their morality and motives?

Those darn bond vigilantes! T- Bill prices are plummeting, because nobody wants to own last year’s editions when the next ones will carry much higher yields. They’re selling off the old treasuries and waiting for the new ones that pay MUCH higher interest.

This sounds more like rational thinking, rather than a bunch of masked vigilantes attempting to lynch a horse thief. Or bring an overspending government to heel through frontier justice.

I took a look at some of the things that went into the current $39 trillion national debt, and decided I wouldn’t have voted for hardly any of it. And that congress and the various presidents are clowns. Here’s what I’d have said no to:

- Trying to bomb Iran back to the stone age.

- Trillions in covid 19 stimulus, which resulted in shocking levels of fraud

- 800+ US military bases around the world. Many in places nobody heard of or cares about.

- Sending buck rogers back to the moon. And then Mars.

- Bridges to nowhere, and bullet trains to Las Vegas

- $2 billion for each B21 bomber

- 400 separate federal agencies, with huge spending and project overlaps

- $70 Billion in federal aid both to wealthy countries, as well as dozens of places which don’t even pretend to be democracies: Angola; Botswana; Jordan; Ethiopia; Sudan; Palestine; Syria; Yemen; Saudi Arabia. America even funded the Chinese military Wuhan lab which released the covid 19 bat virus.

- Federal funding for absurdities like “robotic squirrels”; “humpback whale translators”; “shrimp fight club analysis” and "what effect does coffee have on goats?"

For our $39 trillion in debt and generosity, we now have a military which can’t defeat a nation with no navy or air force; 100% inflation rate over the past 2 decades; unaffordable housing; 8,000+ US satellites in orbit, including the federally subsidized Starlink program.

And we keep re-electing (90%) of the incumbents who are responsible for this.

I’m just sayin’ . . .

US debt is the 'elephant in the room' amid bond market rout as Fed-fueled interest costs could drive even larger deficits, analysts warn

https://www.msn.com/en-us/money/markets/us-debt-is-the-elephant-in-the-room-amid-bond-market-rout-as-fed-fueled-interest-costs-could-drive-even-larger-deficits-analysts-warn/ar-AA23UdSt?ocid=msedgntp&pc=HCTS&cvid=6a12ccc5217f4316acefb651f995a22b&ei=35

Top | New | Old

TexChik · F

The American debt crisis could be called the democrat corruption crisis.

The auto industry is about to have their crisis. The banks that backed loans for $100,000 pick up trucks with $2500/mo payents are in trouble be cause the defaults are increasing by the day. On top of that there are 6 million new vehicles sitting on dealership lots, costing the dealerships dearly for each month they sit there. No on can afford to buy a new, overpriced vehicle. Soon they won't be able to give those things away. That's what happens when greedy politicians are in charge of the economy.

DownTheStreet · 56-60, M

@TexChik the entire overpriced vehicle market is overdue for a correction. Truck pricing is crazy. You can’t even buy one that isn’t uselessly tricked out. I’ll wait for the fire sale.

AthrillatheHunt · 51-55, M

They gotta stop predatory lending ASAP. 30 something percent interest is insane . Govt has to rein in spending too

exchrist · 36-40

@AthrillatheHunt what is this a discover card? Jesus FC

exchrist · 36-40

All America needs is to switch spending to domestic priorities and self sufficiency. Foreign entanglements and pouring money into other countries is what destroying America’s finances.

AthrillatheHunt · 51-55, M

@exchrist how many months (not years ) you think it would take to erase what , 39 trillion if we didn’t send a single dollar overseas ?

exchrist · 36-40

@AthrillatheHunt currently about 4-8 trillion a year is spent overseas, on military investment, or on space projects so that’d be about 8 years (96 months) ? Problem solved.

SunshineGirl · 36-40, F

Buyer's remorse?

whowasthatmaskedman · 70-79, MVIP

US Debt may be the elephant in Americas room. A self inflicted injury that may be fatal, because of this. Not only collapsing the US Economy.. But US society and others as well. Spend 10 minutes and be afraid for your kids and your ageing parents..
😷[media=https://youtu.be/snpMDHawrvs]

View 12 more replies »

whowasthatmaskedman · 70-79, MVIP

@jackjjackson Currently approaching 60,000 km. (35,000 miles)😷

whowasthatmaskedman · 70-79, MVIP

@jackjjackson Maybe this is Freudian of you. But I remember one of these being in one of the "Cars" movies as a dispenser of wisdom..😷

jackjjackson · M

Didn’t see you but it makes sense. I’ve ridden in them when we much younger. Great vehicles. @whowasthatmaskedman

Thinkerbell · 41-45, F

"...100% inflation rate over the past 2 decades; unaffordable housing..."

If no one can afford housing, how come
housing prices are so high...? 🤔

View 6 more replies »

whowasthatmaskedman · 70-79, MVIP

@Thinkerbell Now you are asking all the right questions. So lets take it from the top. First, i my case it isnt strictly sentiment. Its practical (Remember I am the numbers guy) First, by sheer like my location is to die for. Shops, no traffic almost no crime, close access to everything. (I could even walk my dog to the vet if I still had a dog) Plus the favourable tax treatment my property will receive if I hang onto it until I join the dead parrots society. And thats a sweetener for my kids inheritance. Then there is the physical cost of moving..And we spent a lot getting this place right..

Second Part.. EXACTLY! I plan to stay a couple of $Million ahead of the market.

Third part.. Currencies are being debased globally.. When America started just prinintgmoney back in the first Global financial crisis is was not long before other western countries saw the three card trick America was trying to pull and matched them, so like a group of skydivers in freefall, everyone stayed in unison with each other, all hurtling toward the ground at the same speed. Of course America had the advantage of the reserve currency. So it was always going to win that game. The other players mostly pulled out after Covid. But America never really stopped. The major point is that gobally ,smart players know that fiat currency is devaluing by stealth. And everyone is seeking other investment classes. Look at the price of gold. Look at the price of Blue chip shares. and look at the price of real estate. My own son and his wife own about 8 properties, with over $5 million in equity. And the rental income on those will pay them all off withing 5 years. And another Mill in shares they just grow by dividend reinvestment. Anything to not have the money in dollars..😷

whowasthatmaskedman · 70-79, MVIP

@Thinkerbell I absolutely agree, both parties are to blame. Particularly in America, but to some extent everywhere.😷

exchrist · 36-40

@Thinkerbell I can blame the ww2 generation and their kids for that I can blame old ass politicals for that I can blame post retirement age society for that. I can blame foreign entanglements for that. blame is plentiful. The bickering unending,

I propose solutions but both parties only want to argue., blame each other and never solve anything. The rest of the world is leaving the U.S. behind. Oh well!

SatanBurger · 36-40, F

Why are we even talking about debt. If americans cared about debt they wouldn't have voted in Trump who used private jets to kidnap immigrants at 50,000 per hour. Obviously debt is a lie to be spending like that.

View 4 more replies »

This comment is hidden. Show Comment

SusanInFlorida · 31-35, F

@SatanBurger you are so funny. bet you got kicked off the debate team in high school, right?

SatanBurger · 36-40, F

@SusanInFlorida There's no debate, you can look up the numbers and see what Trump has wasted. You know it's true which is why you're being like this

Add a comment...