The US Govt is about to max out their $16,700,000,000,000.00 limit credit card....

[MarkB]

What's the answer to America's woes then?

Inflate the debt away? Debt Jubilee...reset the debt clock

I did a quick search on US inflate debt away.... and couldn't find a credible reference to someone saying that was the answer... found quite a few that said it was not possible though....

But what is the answer....

Well, maybe they should be reconsidering whether they need to spend upwards of $500 bn ($500,000,000,000) pa on a military and defense?


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See: History of US Debt Ceiling Increases

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Military Spending in 2011

See: Washington Post

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National Defence Budget Authority


Do note the trillions and trillions of dollars that have been spent AFTER the Cold War ended...

See: Washington Post

 

[o0o]

Btw

Bill L is still around and going well . He said hello to me on another forum .

We reminisced about a certain topic ...

Cliff

It would be nice if you could share the name of this forum

 

[willair]

We reminisced about a certain topic ...

Cliff

I have a good idea of the site also,, Bill had a style the way he wrote but one item that stood out was he did care about the truth as some flash in the pan gurus now belly-up and who they took with them found out in this site several years ago,, whose intellectual defects he knew intimately,i'm glad he is still around..

 

[BayView]

But what is the answer....

Well, maybe they should be reconsidering whether they need to spend upwards of $500 bn ($500,000,000,000) pa on a military and defense?

I've often thought this.

One argument is that they need to spend money on defending themselves from attack,

BUT,

You don't need to go out looking for fights on foreign shores to throw billions at.

It's farcical.

Spend a bit on protecting your own shores, from within your own shores, and maybe a few installations around the globe that will intercept homeland attack, but that's it.

I agree they need to keep up the fight against Terror, but with all their technology, you can't tell me they don't have a very good idea of where the main culprits are.

So, send in much smaller elite kill squads and pick them off.

Or, monitor the movements, and when they move outside their own Country towards the US or another Country where it is more "free" to execute them, then do so.

Maybe whittle it all down to say; a hundred billion a year.

 

[MarkB]

One argument is that they need to spend money on defending themselves from attack, BUT, You don't need to go out looking for fights on foreign shores to throw billions at.

It would appear that based on sheer resources, they could still win any physical war that occured. Which is great - except war is not the great map changer that it used to be.

But it has come at the cost of them now being in a position where losing the financial war seems a very high likelihood.

And in a world where peace (or at least non-violent, if awkward international relations) is the norm and armed conflict the exception, the ability to buy friends and influence people matters more than your being able to drop a nuke on them.

 

[Intrinsic_Value]

I believe that throughout the history of mankind the 'reserve' currency of the time as directly correlated the military might of the times.

Quite happy for the US to be the military might, given the alternatives.

Spoke to a Chinese friend on this, he said he is very happy that the US is the leader as they are 'basically honest'. The future alternative is China.