Any sane person would agree it will be impossible to repay 9 trillion dollars and counting.We are basically bankrupt and counting on other countries to keep lending us money. Eventually they will start investing in other currencies..its already happening.How will this all play out?
2007-11-17 02:04:28 · 5 answers · asked by LIU TIAN LONG 2 in Business & Finance ➔ Personal Finance
It's basic finance really. Why invest your money, when you can invest someone elses money for the same return. In essence, the debt will never be paid off. And it shouldn't be...
If you look at this from a macro economic standpoint, look at the actual US money supplies... If you add the M1, M2 and M3 money supplies, it totals roughly the national debt. So in essence, ever since we were taken off the gold standard, we have been playing with OPM (other peoples money).
So you say we're bankrupt? Why? Because we owe? Really, we are not, because our assets in this country (Land, Natural Resources) exceed the debt. And frankly with the best military on the planet, I'll like to see somebody foreclose. It won't happen.
2007-11-17 04:26:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
NO sane person believes it is impossible to pay ANY amount of debt. The US Federal debt belongs in POLITICS, not PERSONAL finance. It took DECADES to get that far INTO debt and will take decades to get out. The method is the same for a country as for an individual. CONTROL SPENDING. That is why the US won't even start getting out in the foreseeable future.
2007-11-17 02:48:58 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
Yeah, I heard all this 30 years ago.
2007-11-17 03:19:31 · answer #3 · answered by Anonymous · 0⤊ 0⤋
BY COLLECTING FROM OTHER COUNTRIES WHO OWE US! I could recommend some good collection agencies for this!
2007-11-17 03:14:19 · answer #4 · answered by dagubment 2 · 0⤊ 0⤋
Im agree. They never can pay that.
2007-11-17 02:08:36 · answer #5 · answered by Atish Sarker 3 · 0⤊ 2⤋