Only a problem if the creditors ask for the $ back, right?
But then again, none of it is collateralized so
The U.S. also has plenty of assets...we can always sell Texas. https://www.usdebtclock.org/#
Wouldn't you have to pay back all the money Mexico spent on the wall?
Only a problem if the creditors ask for the $ back, right?
But then again, none of it is collateralized so
The U.S. also has plenty of assets...we can always sell Texas. https://www.usdebtclock.org/#
The electric companies did this for a different reason. Their resource is finite and the demand was exceeding their ability to meet it. When the demand is too high, they were forced to drop people. This caused all kinds of issues as they are a regulated monopoly. The primary driver in instituting these measures was not profit... well not profit from the charges, but profit from keeping their system running without faults.
The electric companies did this for a different reason. Their resource is finite and the demand was exceeding their ability to meet it. When the demand is too high, they were forced to drop people. This caused all kinds of issues as they are a regulated monopoly. The primary driver in instituting these measures was not profit... well not profit from the charges, but profit from keeping their system running without faults.
Well...it is s-t supply and demand shifts, which obviously can divert to gouging.
The electric cos have been doing it for decades, and theyre monopolies, ha!
The electric companies did this for a different reason. Their resource is finite and the demand was exceeding their ability to meet it. When the demand is too high, they were forced to drop people. This caused all kinds of issues as they are a regulated monopoly. The primary driver in instituting these measures was not profit... well not profit from the charges, but profit from keeping their system running without faults.
Well...it is s-t supply and demand shifts, which obviously can divert to gouging.
The electric cos have been doing it for decades, and theyre monopolies, ha!
Well...it is s-t supply and demand shifts, which obviously can divert to gouging.
The electric cos have been doing it for decades, and theyre monopolies, ha!
After Jamie Dimon warns of market ârebellionâ against $34 trillion national debt, Fedâs Jerome Powell says itâs past time for an âadult conversationâ about unsustainable fiscal policy
With the United Statesâ national debt closing in on $34.2 trillion, some of the biggest figures in the world of finance have been speaking out. But few expected Federal Reserve Chairman Jerome Powell to address the issueâat least until this weekend, when Powell spoke out about the debt on CBSâs 60 Minutes Sunday. âIn the long run, the U.S. is on an unsustainable fiscal path,â Powell warned.
Even as the U.S. economy avoided a widely forecast recession in 2023, record government spending and lower tax receipts led the national debt to surge to an all-time high. And that trend has continued into this year. The U.S. government debt to GDP ratio, a measure of total public debt to economic growth, has surged from just over 100% in 2019 to over 120%. Thatâs down from the COVID-era peak of 133%, but, as Powell put it, the governmentâs debt is still âgrowing faster than the economy.â
This means itâs now âpast time, to get back to an adult conversation among elected officials about getting the federal government back on a sustainable fiscal path,â Powell argued Sunday.
More level playing field? Yes.
Redistribution? No, other than a higher estate tax. You're entitled to your bounty while here, but once you pass, put most of capital back in the pool.
And a no on loan forgiveness. Though the interest rates on student loans are a crime.
It does suggest people should live within their means. This is a reflection of poor personal financial management...a failure of our parents and education system.
ok, I realize trying to realise everyone's personal economic goals is like trying to square a circle, so I'm going to down tools for the day, but it does sound a bit like you are punishing the ones dealt the worst hand with that last sentence.
I always thought redistributing wealth to the poor was a great way to get the multiplier effect to kick in as the poor generally purchase domestic goods, spend what they have immediately and in the process you can keep them out of destitution avoiding all the cost to society that entails. /my 2c.
This suggests that you would support some kind of wealth distribution in favour of the bottom half. Maybe we have more in common than I thought.
what about student loan debt relief? What's your position on that?
More level playing field? Yes.
Redistribution? No, other than a higher estate tax. You're entitled to your bounty while here, but once you pass, put most of capital back in the pool.
And a no on loan forgiveness. Though the interest rates on student loans are a crime.
It does suggest people should live within their means. This is a reflection of poor personal financial management...a failure of our parents and education system.
The aggregate shows growing levels of debt and depleted savings...which is being born by the bottom half of the income earners.
The upper half are still strong, boosted by higher returns on their fixed income investments and a rising stock market.
Rich get richer, poor have children.
This suggests that you would support some kind of wealth distribution in favour of the bottom half. Maybe we have more in common than I thought.
what about student loan debt relief? What's your position on that?
ok, I'll do the work for you (yes I'm feeling snarky today, apologies in advance).
1. my OECD data put the average public debt to GDP at 210%. So 217% is not that much higher than the long-term average.
2. Yes, you are right on credit card debt reaching 1 trillion.
3. However, credit card debt only accounts for 5.8% of total household debt using Q2 2023 figures
4. You would think that if excessive debt has been issued, there would be higher defaults on credit card debt, but this is not the case:
"Delinquency rates were roughly flat in the second quarter of 2023 and remained low, after declining sharply since the beginning of the pandemic." (from the above source).
. Admittedly, this might change rapidly in a recession.
5. You are right on public debt. I would be a little unsettled at 130% of GDP too. The U.S. is on the wrong end of the chart on this one.
ok, that was my 10 minutes of public service for the day.
I suspect that if Biden is re-elected the Democrats will rein in public spending to get the public debt down again as they frequently do in their second term.
Total household debt has only held steady in recent periods because very few are assuming new mortgages - home sales are at historical lows. That and they locked in the low mortgage rates is the good news.
Non-household debt is surging because of CC, student loans, and auto loans grew, while the savings rate has plummeted. https://www.newyorkfed.org/mic...
The average CC holdings is somewhere between $6000-$8000 according to sources like Bankrate, and about 30% of holders carry a balance. These are the lower income consumers.
And delinquency rates are rising and now back above pre-pan levels,
The aggregate shows growing levels of debt and depleted savings...which is being born by the bottom half of the income earners.
The upper half are still strong, boosted by higher returns on their fixed income investments and a rising stock market.
Rich get richer, poor have children.
Further, I'm specifically speaking of household debt, which excludes business debt.
That's my 2 mins of public service... as for your last assumption...we havent had a surplus since Clinton...so debt will continue to grow. Best you might hope for is that the GDP grows at a faster pace than the deficit.
