Debt Ceiling Fight 2023
- Thread starter UsualName
- Start date
US is an entity therefore it is subject to credit risk only if it seeks money from other entities, such as individuals/citizens. It is the same you don’t want to lend money to China or Russia, no one else would want to loan money to US.
BTW, a country is a business.
go shop at whole foods lately? most of the cashiers are senior citizens.
How is a country a business?
Only 33% of our debt is held by foreign countries. The US is not the same as China or Russia for many, many reasons.
I don’t want this to devolve into a conversation that has someone saying well then just borrow trillions every year because debt doesn’t matter. It does matter what we are using that debt for and if growth is a result.
to be clear, I don't agree with the world economic forum's @ Davos statement. I post it as the clear neo-lib propaganda that it is. I don't shop at whole foods but good on them for giving seniors who opt to continue employment a chance.
Whenever I see The Davos thingy, it immediately reminds me of The Skulls movie franchise thingy.
It takes away young teenagers summer jobs, part timers, etc.
There are only so many jobs go around, regardless what the surveys tell you.
Funny, the republicans have proposed a 30% sales tax which would cost the average family of 4, $3,000 in taxes a year ON GROCERIES ALONE.
Unfortunately it is, behinds the smoke and mirror. Empires fall the same way, econoomic, social, culture, and climate.
https://www.reuters.com/markets/us/...s-rise-november-led-by-japan-data-2023-01-18/
Data further showed that holdings of China, the second largest non-U.S. holder of Treasuries, fell to $870 billion in November from a revised $877 billion in October. China's holdings were the lowest since May 2010 when it had $843.7 billion.