News

all he ever known is laundering russians for thier money, through his casinos, using investors money than bankrupting to avoid any lawsuits against himselfs, or drown the opposition(the sue-r in so much shit) they cant fight them anymore.

The secret is Trump will debase our currency to the point where a hotdog stand charges a million dollars for a can of soda. Then our debt will be relatively meaningless and easy to pay off.

lmao

Came in to make the same stupid joke. Love to see I've been beaten to it.

There's a world in which the US is carrying $37T, everyone lives in a spacious public condo, rides the UltraMax train around town to their 30 hour/week jobs or publicly financed doctor's appointments or state financed university classes or luxury public park and spa.

And I think that would be money well spent.

Shame we don't live in that country

History repeats itself indeed, it's sounding more and more like the pre revolution France, a tone deaf dictator, cooking the books because the numbers weren't so good, the poor suffering more and more etc etc

"Biiiiiiiiiiden's economy!?!"

"Hey... I found a dollar in the seat cushions!"

"TRUMP'S ECONOMY! TRUMP'S ECONOMYYY!!!"

Debt doesn't matter, especially in the usa.

They aren't actually borrowing from anybody, the debt is to themselves. It basically just means the US Federal Government spends more than it collects every year since POTUS Clinton was in charge.

They do set an upper limit to the debt / annual deficit and if they fail to resolve it by raising the limit then the federal government goes into shutdown: no new laws passed, no federal employees get paid, etc. But they pretty much always raise the limit. The last time the limit was raised it was a bipartisan push to keep the government running, during which the DNC members who joined with the Republicans received a lot of criticism for doing what the Republicans wanted, but TBH I don't really think things would have been much better off if the government had shut down again.

Next time, though, it's become clear that the Senate will keep stripping rights and not allow a single bit of progress to be made no matter how far into fascism this nation falls, so definitely should shut down.

It was ruled in court to be illegal in 1919 in the Dodge vs Ford lawsuit.

At the time, Ford himself wanted to: "My ambition is to employ still more men, to spread the benefits of this industrial system to the greatest possible number, to help them build up their lives and their homes. To do this we are putting the greatest share of our profits back in the business."

But shareholders (both Dodge brothers of the Dodge car company) sued against this and in the end the judge declared that: "A business corporation is organized and carried on primarily for the profit of the stockholders. The powers of the directors are to be employed for that end. The discretion of directors is to be exercised in the choice of means to attain that end and does not extend to a change in the end itself, to the reduction of profits or to the nondistribution of profits among stockholders in order to devote them to other purposes."

Basically, if you attempted trickle down economics, you'd be "stealing" from the shareholders. Extra money is to be given to shareholders as dividends, not for boosting the pay of your employees if it doesn't involve adding more profits to the bottom line.

https://en.m.wikipedia.org/wiki/Dodge_v._Ford_Motor_Co.

If America paid attention to its own history Reagan would be remembered as the worst president

US debt reaches $37, trillion years before expected.

But how could that be possible? He's a master businessman!

It's a modern day religion .... it's a faith based system

It works and functions and is all powerful because enough people believe in it and hold all their faith in it ... it's faith and belief that make it work

But it's also the Achilles heel of the whole system ..... if enough people in the whole system stop believing in it ... it all collapses in on itself and it is destroyed and evaporates instantly.

Having large debt matters for how expensive access to cash is. No matter how "fake" it is, the financial system puts a premium on how long it takes to get their lent money back. The longer it's stuck, the worse the reputation of getting it back, or simply the higher the demand — the higher the premium.

And as you need cash to make payments for goods and services (as opposed to tax rebates) that has the effect that US tax dollars and investments have lower rate of return as sufficient cash gets more expensive.

Another part is that the debt will be taken out in some form, e.g. foreign currency, making that currency more available for cash transactions (while at the same time making yours' less available due to being locked into what you needed it for). This shifts trade away from USD, which makes it much harder to influence/control what it's used for, how much it's worth, and harder to make people care how much of it there is.

As the world trades in something besides USD and/or avoids investing in the US due to high costs/volatility, the US gets less relevant/influential in global policy, diplomacy, business, investments and even domestic policy.

It's possible that other countries might start calling us on the debt, if we borrow faster than we lend, or faster than inflation.

Countries don't have credit ratings in the same way Americans do, but they still have ratings on their bonds. If those ratings get downgraded, people stop lending us money, and then everything crashes and burns.