G
G
Guest
It could be debated forever which state or which political regime has spent/wasted more money and had so little to show for it. Except debt. I have no wish to get in to heated arguments with anybody on this site about who is to blame for what. I would rather meet you out on the trails and maybe debate the merits of Sea and Snow. However I do have a question.
What happens when as a country we hit the magical debt max where all our taxes go to pay the interest on the national debt? It depends where you look but that number is somewhere around 25 trillion. Which we are closing in on. Then what?
I can't get a straight answer out of my broker. He just says 'That won't happen'.
Local banker and accountant say ' we will monetize the debt.' What does that mean?
I realize we are not Greece or Venezuela. We can print out own money. For now.
But at what point does it just go BOOM. And then what happens? Or is it going to just going to be business as usual? The day is coming.
Thoughts?
What happens when as a country we hit the magical debt max where all our taxes go to pay the interest on the national debt? It depends where you look but that number is somewhere around 25 trillion. Which we are closing in on. Then what?
I can't get a straight answer out of my broker. He just says 'That won't happen'.
Local banker and accountant say ' we will monetize the debt.' What does that mean?
I realize we are not Greece or Venezuela. We can print out own money. For now.
But at what point does it just go BOOM. And then what happens? Or is it going to just going to be business as usual? The day is coming.
Thoughts?