Is USA going into Recession?
- Thread starter SuperCruz
- Start date
most companies have debt as well. they continue to function. most people have mortgages. they continue to function.
the goverment has not defaulted on any bonds or t-bills. our debt to gdp ratio is not at an historically alarming level.
down the line we do face challenges with medicare. medical inflation is going to force us to make some tough choices in the future.
the goverment has not defaulted on any bonds or t-bills. our debt to gdp ratio is not at an historically alarming level.
down the line we do face challenges with medicare. medical inflation is going to force us to make some tough choices in the future.
We are facing this already. Yesterday, I went to the phamacy to pick up a prescription cream for my daughter, and was told it's not cover by her insurance. They told me if I want to pay for it, it $135. To me, either this system is mess up, or US Dollar is really toilet paper now. Probably a combination of both.
There is wise debt and unwise debt. It seems you haven't drawn a distinction. If we are US citizens, we have traded a lowered standard of living for an unproductive and wasteful war. This is true no matter what we think of the war. But you seem to me to be entirely too happy to have made this very bad trade.
Quote from gnome:
Agreed. But when has America ever "paid back" the money it has borrowed? Except to money-print some inflation to roll the debt over? That's not "paying it back".... and it's why the USA has a $9Trillion national debt... (no intention of EVER paying it back, either.)
This worked really well when gas and food wasnt exploding. Tough choices are going to have to be made. We're still in the denial stage.
why would you construe my comments about the ability to repay the debt as being happy that it exists? and who are you to judge who is too happy about anything?
i just don't believe that the sky is falling. the data doesn't show that the sky is falling either. the war is not going to bankrupt the country but the debt will have to be repaid from the largest most powerful economy in the history of the world. and it will be repaid. the chinese wouldn't be accepting 4% on ten yrs if they thought it wouldn't be repaid.
you want to be against the war? fine. for the war? fine. it isn't going to do long term damage to the economy and we had plenty of gdp growth from '03-'07 so it hasn't done short term damage either.
In case anyone hasnt noticed the government has gone to extordinary limits to cover up the debacle that is occuring.
+1.
Well said.
(having said that, I'm very bullish on equities - on a stock picking, not index, basis - because of lack of alternate returns)