This guy says that a $30 trillion debt isn’t REALLY $30 trillion, it’s more like $22 trillion, and that isn’t really that much. Besides, a large national debt isn’t really a problem.

Categories: EconomyThe Collapse


SiG · February 16, 2022 at 11:06 am

I don’t think I’ve ever seen such fundamental misunderstandings of just about everything he’s talking about. I’ve never tried teaching algebra to 4-year olds, but it would be like that level of misunderstanding.

He’s referring to the debt not being real but is talking about social security and other unfunded liabilities. That’s a different category than the debt and it’s tracked differently (and it’s about $165 trillion). He says inflation is caused by supply and demand but that’s not right either. I think we have both going on now, but inflation is caused by the creation of dollars with nothing backing them.

On second thought, I’d probably have better luck explaining the algebra to 4-year olds.

Jonathan · February 16, 2022 at 12:35 pm

He is both wrong and clueless, like assuming that CV payments to individuals replaced personal debt, as well as misunderstanding inflation and pretty much everything else.
As Sig said, if he was consistent, his numbers would rise, alot, not drop…
While he doesn’t say it, I’m pretty sure he’s a middle class or above liberal.

Kid · February 16, 2022 at 2:24 pm

Well, I’m going to take the side that I couldn’t care less about the natl debt. We’re never going to pay it down and if worse came to worse, we’d just default on it and I’m sure any holders of said debt have already effectively written it off.

Its just some number used for political postureing and selling gold to crazy people.

joe · February 16, 2022 at 2:27 pm

coming from what is most certainly a left wing site, would you expect them to know what they are talking about i and tell any kind of truth?

Big Ruckus D · February 16, 2022 at 3:30 pm

The guy making the statement is a moron. That facf aside, the debt – in point of fact – no longer matters. Not because it isn’t “real”, but beause it cannot and will not ever be paid back. Ultimately it will be repudiated in a sovereign debt default. That will have wide ranging and severe consequences, but it is what will happen because it has to.

Every major world power that ever achieved empire status has run up huge debts it then defaulted on. Sometimes repeatedly over anl span of decades. While they may no longer qualify as major powers, most still exist as countries today (Spain as just one example) even though they are dysfunctional and bereft of any real power owing to their piss poor economies brought on by unchecked profligacy.

That is clearly the destiny of the US, as we have long since peaked in every useful measure of productivity, economic output, military capability and readiness, and quality and character of the citizenship at large.

We will – a best – be a half assed broke dick hellhole with residual delusions of grandeur fueld by the fading institutional memory of our former greatness.

The US is much like the high school football star who peaked at 18. Now well into middle age, he clings to his long past moments of glory, and tells himself he still has it despite being arthritic, diabetic, 75+ lbs overweight, divorced and living in a roach infested shitshack because of the child support and maintenance he has to pay his ex – who ran off with the pool boy – drains 98% of his net income. Thats where we are as a country.

    Divemedic · February 16, 2022 at 4:29 pm

    More likely: the US will divide into smaller nations. I don’t see a central government having the power or money to hold the entire nation together.

      EN2 SS · February 16, 2022 at 6:15 pm

      Can’t happen soon enough to suit me. A Russian predicted years ago, that the US will split into at least five countries.

      Big Ruckus D · February 16, 2022 at 6:19 pm

      I can’t really argue with that possibility. However, I see that as somewhere further down the road yet. The bad news is we will still have to go through a painful interregnum in which the current corrupt government will go through spasms of tyranny and vengeance in a fruitless attempt to try and hang on to control.

      We are already seeing the obvious application of that approach to governance here, and I expect it to get much worse before it flies apart due to its complete dysfunctionality. Then I figure we reconstitute into numerous smaller countries if only to prevent a massive overreaching Leviathan like the one we have now. Either way, the debt is a write off.

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