Crypto Price Dips Stunning Correlation to US Banksters Hours $5 TRILLION to $32 TRILLION in less than 20 years (i.redd.it) [–]KAX1107[S] 222 points223 points224 points 4 days ago WTF happened in 1971? permalink embed save report give award reply [–]Flat4Power4Life 29 points30 points31 points 4 days ago It’s also around that time when we switched to a credit based system. 1966 was the beginning of credit cards and a system of endless borrowing and interest. permalink embed save parent report give award reply [–]hotasanicecube 0 points1 point2 points 3 days ago It was also the oil crisis, 99% of the population uses gasolines and oil. It was also Vietnam. Look at GDP and other numbers and you will see how the government was running tight on money. As was everyone’s disposable income. permalink embed save parent report give award reply [–]duper12677 138 points139 points140 points 4 days ago Yeah I was gonna say you can see plain as day where the gold standard ended and they just started to rev up the ol green back printer. That was the decision that made the system bound to fail permalink embed save parent report give award reply [–]roofgram 3 points4 points5 points 4 days ago The dollar was pegged to $35 for an ounce of gold. Today gold is worth around $2,000 which means the dollar has lost around 50x its value since it was unpegged and continues to fall. Without the peg the government can spend without limit. Inflation is the ‘tax’ you pay for this overspending. Nothing is free. 13 trillion in Corona spending is being paid for right now with higher prices everywhere, and it will never go away. permalink embed save parent report give award reply [–]SamwiseGamgee87 3 points4 points5 points 3 days ago But you can see how it's start getting worse after the crisis of the current century, in 2000/1 - 2007/8 - 2020/1 they system can't handle another crisis permalink embed save parent report give award reply [–]duper12677 0 points1 point2 points 3 days ago Those events should have brought the system down, but the money printer is their only support. Something will eventually give permalink embed save parent report give award reply [–]BuyRackTurk 62 points63 points64 points 4 days ago WTF happened in 1971? Red herring; gold was illegal to own in 1971. So the gold standard was a joke. The date of infamy is 1913. permalink embed save parent report give award reply [–]theekman 39 points40 points41 points 4 days ago Illigal for citizens to own but other countries were able to repatriate until 71. After that there was nothing holding back money printing permalink embed save parent report give award reply [–]Junior_Client3022 13 points14 points15 points 4 days ago No one entity or group should have the power to manipulate currency and economy. 1971 doesn't mean jack. The US owned 90% of the gold in the world. Even if you could redeem it. Gold still sucked then just like it does now. The money manipulators and currency creators are the true problem. permalink embed save parent report give award reply [–]anonymouscitizen2 23 points24 points25 points 4 days ago Point is the US governments ability to create more paper dollars was dependent on some proportion of physical gold bullion in their custody. It was not the ideal scenario for the average citizen but it very obviously was better than the monetary system we have now. Money needs to be separated from the state if we ever want it to work for us again. Probably the most important issue to a citizens prosperity and more people need to be educated on it permalink embed save parent report give award reply [–]Junior_Client3022 -1 points0 points1 point 4 days ago* The point is that it isn't possible to manipulate the currency or economy. Policy isn't going to change anything meaningfully. Policy isn't going to change the fact that voters are going to vote themselves money, or that lobbyists are going to Lobby politicians. Only the free market knows where money goes and how it should be spent. There is no magic formula or an all seeing economist that could turn the ship around. Control of the money is the single problem. Remove that and fix the world. Going to a gold standard for some arbitrary amount of time ran by some temporary state actor who you have to trust to not sell off or just not change the law on a whim isn't going to solve anything. permalink embed save parent report give award reply [–]theekman 5 points6 points7 points 4 days ago Just need decentralized money… that would fix things permalink embed save parent report give award reply [–]anonymouscitizen2 0 points1 point2 points 3 days ago “The point is that it isn't possible to manipulate the currency or economy” What? Yes it is and it happens non stop. That is why money and state need to be separated. “Policy isn't going to change anything meaningfully. Policy isn't going to change the fact that voters are going to vote themselves money, or that lobbyists are going to Lobby politicians.” I agree, which is why I said money and state need to be seperated. “There is no magic formula or an all seeing economist that could turn the ship around. Control of the money is the single problem.” Same answer, you are repeating yourself. “Going to a gold standard for some arbitrary amount of time ran by some temporary state actor who you have to trust to not sell off or just not change the law on a whim isn't going to solve anything.” No, it won’t which is why I said money needs to be seperate from the state. Simply pointing out the gold standard acted as a roadblock to runaway money creation we have now, that is an objective fact. Not the ideal solution of course. Money needs to be entirely removed from the state for true prosperity. We are in agreement. permalink embed save parent report give award reply [–]theekman 3 points4 points5 points 4 days ago* Im not saying it was right but there was still supposed to be one oz of gold per $35 USD. Once they completely went away from that they could openly cheat. permalink embed save parent report give award reply [–]CoolioMcCool 6 points7 points8 points 4 days ago 1971 still holds significance even if the events in 1913 were more fundamental to the fuckery that we see today. permalink embed save parent report give award reply [–]GoblinsStoleMyHouse 1 point2 points3 points 4 days ago Woah… what the f* permalink embed save parent report give award reply [+]cabbage-collector -6 points-5 points-4 points 4 days ago We decided to kick ass? permalink embed save parent report give award reply [–]Quiet_International 0 points1 point2 points 2 days ago 1977 the USA abandoned the gold standard. permalink embed save parent report give award reply [–]TehSillyKitteh 51 points52 points53 points 4 days ago Trend reversal incoming. Buy calls. Fuck. Wrong subreddit permalink embed save report give award reply [–]Tvaticus 10 points11 points12 points 4 days ago Lol short Fiat currency! permalink embed save parent report give award reply [–]garmzon 16 points17 points18 points 4 days ago This is gonna end well permalink embed save report give award reply [–]Umpire_State_Bldg 1 point2 points3 points 4 days ago "Bitcoin holder not affected." permalink embed save parent report give award reply [–]in4life 2 points3 points4 points 4 days ago The chart seems to be steep enough to form one half of a well, if that’s what you mean. permalink embed save parent report give award reply [–]PurpleFlamingoFarmer 71 points72 points73 points 4 days ago And they'll keep it going forever, in every country. Buy BTC permalink embed save report give award reply [–]KAX1107[S] 8 points9 points10 points 4 days ago Make the only vote you have count Opt out permalink embed save parent report give award reply [–]BitcoinFan7 0 points1 point2 points 3 days ago Relevant https://youtu.be/cOubCHLXT6A permalink embed save parent report give award reply [–]btcluvr 16 points17 points18 points 4 days ago it is accelerating in geometric progression and will result in hyperinflation at some point. people will loose trust in system, this is easy to understand by lack of motivation to work. permalink embed save parent report give award reply [–]togetherwem0m0 14 points15 points16 points 4 days ago What's the point of working when 90 percent of your work value is sent up the corporate chain to profit the already wealthy, either directly or by way of inflation permalink embed save parent report give award reply [–]Ragefan66 4 points5 points6 points 4 days ago* Whats the point of working? I dunno, maybe being able to pay bills and pay rent? Whats the alternative? Being homeless or living with mom+dad and sitting at home all day? Want the profits for yourself? Why don't you take out a loan and start your own business and hire employees? If all jobs are gouging as much as you say they are you'd be stupid not to pursue opening literally any business. Also do you seriously think that companies make a 900% return on investment on every single employee per their hours paid? Did you not include overhead of running the business, all the other positions that sales/revenue positions need to pay for, rent and all other expenses? permalink embed save parent report give award reply [–]togetherwem0m0 1 point2 points3 points 4 days ago its my position that the fiat monetary system has instituted, for the past 50 years and accelerating more recently, a deviation of the value of work to the compensation of work. people know this is true, if not in their minds then in their hearts. they can feel the real world effects of their labor not being able to pay for what it used to pay for, whether it be housing, other peoples services, or other physical goods. this is all in spite of the tremendous productivity gains from the vast amounts of automation and technological advancement that has occurred. my statement is meant to give voice to the way people are feeling, especially those entering the labor market on the low end. they know something's fucked but many are blind to it, so there's a malaise or a demotivational thing happening. people are finding ways to live without work or minimum work, one way or another, because its not worth it to work for them. ​ bitcoin, the ideal digital sound money, has the opportunity to bring balance to the system by undermining the cantillon effect and undoing the corruptive influence of systemic control. permalink embed save parent report give award reply [–]Ragefan66 0 points1 point2 points 4 days ago "bitcoin, the ideal digital sound money, has the opportunity to bring balance to the system by undermining the cantillon effect and undoing the corruptive influence of systemic control." I call bullshit. Minimum wage and corporate tax rates/structure is still controlled by our government. BTC changes absolutely none of this other than having the risk of dropping/mooning on the whims of billionaires gambling on crypto. Government still controls everything in essence. They can make BTC worthless by taxing every BTC transaction by an insane amount, BTC will never replace the USD and problems like inflation and wage disparity just suddenly don't go away because we got rid of USD and replaced it with a crypto that moves on the whims of the worlds richest people. permalink embed save parent report give award reply [–]Umpire_State_Bldg 27 points28 points29 points 4 days ago What's the point of working ...? For me, living my childhood dreams -- that's been the point of working. I started in poverty with nothing and WORKED my way up. Now I drive a decent car, one that doesn't break down all the time... one that I never have to fix - I can pay the mechanic. I no longer live in roach-infested apartments with thin walls, noisy plumbing and obnoxious neighbors. I live in a dream home in a very nice part of town with my loving partner. I can go to just about any store or restaurant and buy whatever I want, as much as I want. I can drink whatever brand of wine, beer, or booze I want - no need to shop by price. I can still go car camping if I choose, but I often choose to vacation in places like Paris, staying in fine hotels and eating at fine restaurants. I worked and earned the ability to make that choice. I don't owe anybody any money. Am I the richest person I know? Not by a long shot when measured in fiat currency. Still, I get to live out my dream life. Am I making the owners of the companies I work for rich? Hell yeah - that's my job, that's why they hire me. I'm okay with that. They pay me well because I have spent the time and effort to learn new skills to allow me to earn more and more. If you're stuck in a dead end, minimum wage job, either do what I did or shut the fuck up and learn to enjoy the life and career you choose. HERE'S THE BEST PART: Along the way, I learned a lot of things: * You won't be happy having what you want until you learn to want what you already have. * You can be rich and still be miserable. * You can be poor and still be happy. * Be thankful in all situations (easier said than done). * Take care of your health - or else. * Get enough sleep. * Relax. * Be patient. * Never stop learning. permalink embed save parent report give award reply [–]togetherwem0m0 10 points11 points12 points 4 days ago I appreciate your post, and that is all true for me, but it's becoming less and less true and harder to achieve than it was for us. permalink embed save parent report give award reply [+]Umpire_State_Bldg -13 points-12 points-11 points 4 days ago They guys at the car wash are working hard. The owner of the car wash is working smart. permalink embed save parent report give award reply [–]togetherwem0m0 5 points6 points7 points 4 days ago You can't own a car wash by working at a car wash permalink embed save parent report give award reply [–]Umpire_State_Bldg -5 points-4 points-3 points 4 days ago So, don't work at a car wash if owning a car wash is your objective. If you're currently working at a car wash and want to own one, then YOU need to change, YOU need to come up with a plan and then take actions to move yourself along your planned path. You also need to evaluate your plan from time to time, and make changes when things turn out to be different than you planned for them to be. The world isn't going to say, "You want to own the car wash? Oh, boo hoo. Let's change everything: Human nature, competition, risk-reward, the entire global economy, the laws made by government, the laws of nature... so YOU can just magically have a car wash." permalink embed save parent report give award reply [–]togetherwem0m0 7 points8 points9 points 4 days ago ah you're one of those bootstrap people permalink embed save parent report give award reply [–]Jedimastah 1 point2 points3 points 4 days ago The boomer has revealed himself permalink embed save parent report give award reply [–]StomachMysterious308 0 points1 point2 points 3 days ago I was gonna say BOOTSTRAP but you already beat me to it. You can't pull yourself up by your bootstraps when your hands have been chopped off permalink embed save parent report give award reply [–]nerojt 0 points1 point2 points 3 days ago Wrong, you need to work there first to figure out how to run a car wash business. permalink embed save parent report give award reply [–]FUSeekMe69 3 points4 points5 points 4 days ago And neither actually produces anything. Why do we need car washes in the first place? Is it convenience, because we don’t have time because we’re always at work? permalink embed save parent report give award reply [–]Umpire_State_Bldg -3 points-2 points-1 points 4 days ago When you run the world, you can outlaw car washes. Enjoy. permalink embed save parent report give award reply [–]FUSeekMe69 0 points1 point2 points 4 days ago I just see a completely different world on a bitcoin standard. permalink embed save parent report give award reply [–]Fabs_- 5 points6 points7 points 4 days ago A true pain to read, especially the self-help / insta-quotes. permalink embed save parent report give award reply [–]FUSeekMe69 1 point2 points3 points 4 days ago You have a great work ethic, and I admire it. But you could be spending way less time working and doing other things (even if that meant “working”) if the fiat system didn’t hamstring us into believing we need to work harder on the hamster wheel to get ahead in life. Technology can and will eventually come for every job. Ask yourself what that looks like on an inflationary standard, then what it looks like on a standard without manipulation. permalink embed save parent report give award reply [+]Umpire_State_Bldg -7 points-6 points-5 points 4 days ago if the fiat system didn’t hamstring us Why do you think I donate my time to help strangers to understand and appreciate Bitcoin? Don't just work harder. Work smarter, too. permalink embed save parent report give award reply [–]Fabs_- 3 points4 points5 points 4 days ago Most of your comments that I get to read are copy-pastes without much effort, or straight up whacky shit. You truly are a weird one. permalink embed save parent report give award reply [–]FUSeekMe69 1 point2 points3 points 4 days ago do what I did and shut the fuck up Maybe take your own advice if this is how you plan to help permalink embed save parent report give award reply [–]We_are_all_monkeys 0 points1 point2 points 4 days ago Do you want a cookie? permalink embed save parent report give award reply [–]Chonk-de-chonk 0 points1 point2 points 4 days ago If you're stuck in a dead end, minimum wage job, either do what I did or shut the fuck up and learn to enjoy the life and career you choose. https://www.reddit.com/r/WorkReform/comments/13w4z37/the_answer_to_get_a_bet... permalink embed save parent report give award reply [–]Umpire_State_Bldg -2 points-1 points0 points 4 days ago Did posting that nonsense get her a living wage? No. Welcome to reality. permalink embed save parent report give award reply [–]Chonk-de-chonk 2 points3 points4 points 4 days ago *Welcome to the reality of Capitalism. Where the poor deserve to die and the rich say, "fuck you I got mine." Seriously, some people can't find better work. And minimum wage jobs still need to be filled. Saying that these people should just "get a better job" ignores their personal circumstances and demonstrates a lack of empathy. I'm very happy for you. It sounds like you worked hard and achieved everything you want in life. But as they say in the infomercials: results may vary. permalink embed save parent report give award reply [–]Umpire_State_Bldg -3 points-2 points-1 points 4 days ago How much money did that post put into your checking account? permalink embed save parent report give award reply [–]Chonk-de-chonk 1 point2 points3 points 4 days ago I'm very confused what you're trying to say? That posting on social media is a waste of time, and time is money? Then what are you doing here? permalink embed save parent report give award reply [–]Umpire_State_Bldg -1 points0 points1 point 4 days ago The FACT is, there is competition for resources, wealth, mates, jobs, college entrance, living space, etc. That's the way it is. If you're not willing or able to compete to get ahead, you won't get ahead - even if you bitch about the system. The world is not keeping you down - you are keeping yourself down, and your unrealistic attitude works against you. It's hard to get ahead, YES, it is. The world and the system put downward pressure upon us - yes, that's true. Still you won't get ahead unless you get your attitude straight, turn off your TV, get off your ass, make a plan for how you are going to get ahead and then put in the time and effort to execute that plan. That's right, getting ahead is going to cost you time and effort over a long period of time. Not everybody is willing to turn off the TV and start learning a new skill to help them get ahead. permalink embed save parent report give award reply continue this thread [–]rottiesrule88 1 point2 points3 points 4 days ago I award you no point and may god have mercy on your soul! permalink embed save parent report give award reply [–]Umpire_State_Bldg -1 points0 points1 point 4 days ago You can't even spell God correctly. permalink embed save parent report give award reply continue this thread [–]Eskogito_ 0 points1 point2 points 4 days ago What are you willing to trade for the riches Which the devil will give you? In return for the favor You must be his servant and he will give you new opportunities There was an exam... He who was ready, he has long been calm. He who came here will begin his life from scratch. Good evil in our hearts..." Don't ask me about the times And the actors in this story ♪ Literally picking myself up in bits and pieces ♪ Like a book in pages, they escaped grief "As you go up the spiral of life Remember what awaited you in the beginning How long ago did we fall asleep with a smile on our lips? It's not enough a lifetime to learn to right your wrongs." It's enough to try so that one day everyone Can find within himself the flow of an unrelenting thirst. "There are so many wonders around, go for it! Be the discoverer, the inventor." Soul volcanoes formidable, Measure with steps the stars, Believe in wonder. Lead through the needle's ear a caravan of camels Be the captain of your ship Go on a journey through piles of books One hard road ahead, climb to the heights Down to the depths permalink embed save parent report give award reply [–]2xfun -1 points0 points1 point 4 days ago And yet the majority of the normies are blind permalink embed save parent report give award reply [–]dghmuiytd 10 points11 points12 points 4 days ago And they feel the effects of money printing and inflationary policy like we all do, but then ask for even more of what caused it....The only way to ever truly get wealth redistribution is through sound money, which gives workers back the power. Right now, we're just on the proverbial treadmill, working jobs to stay afloat. There is not a lot of power in that model because you can never store all that energy. permalink embed save parent report give award reply [–]nerojt 0 points1 point2 points 3 days ago To build skills to start your own thing. permalink embed save parent report give award reply [–]Ragefan66 -2 points-1 points0 points 4 days ago People who think hyperinflation is coming to the US are legit bonkers and have no idea what they're talking about lol. If the US enters hyperinflation than a speculative asset like BTC isn't going up as the entire world will be extremely strapped for cash and unwilling to gamble into crypto. Bitcoin performed worst than cash since this inflation shit started, so why would anythink that hyperinflation would somehow bring BTC to the fucking moon? It's all speculation and its all one giant gamble. permalink embed save parent report give award reply [–]BrotherAmazing 5 points6 points7 points 4 days ago I think they’re bonkers too, but because the Fed will obviously raise rates to 6% or 7% or even more if required and would ultimately just put us in a Recession on purpose rather than face hyperinflation. So I reject the thesis the U.S. will face hyperinflation any time soon. There is definitely a problem brewing out on the horizon though, just not hyperinflation. permalink embed save parent report give award reply [–]Rey_Mezcalero 1 point2 points3 points 4 days ago The world will be in a big hurt if the US goes to hyperinflation. No other major country want she USD or the US to fall. It’s the worlds market and cash register and the pain will reach everywhere. permalink embed save parent report give award reply [–]Quiet_International 0 points1 point2 points 2 days ago The rest of the world will be forced to buy the debt in order to protect their economies from USD collapse. At least until a viable alternative system exists. Btc is still not ready. Lightning needs better deployment and integration. Chargebacks and subscription services need to be possible. Credit agencies and lending services and escrow services need to be more widely adopted. Btc is great but the legacy financial system is way more capable and nuanced for handling complicated financial scenarios. Eventually BTC will get there. But it’s not there yet. If China pushes out a robust and feature rich CBDC that includes privacy (something they claim to be doing) That could be a threat to global financial usd dominance. Eventually BTC wins. But in the phase in between it could get ugly. The best thing would be if the USA gov started buying and holding BTC. permalink embed save parent report give award reply [–]btcluvr 2 points3 points4 points 4 days ago in economics of hyperinflation people will need alternative money system. bitcoin is an absolutely evident place to run to. you'll change your "speculative asset" talk as soon as your real earnings drop 2x from now. this moment is closer than you think. inflation isn't going anywhere. permalink embed save parent report give award reply [–]Ragefan66 -3 points-2 points-1 points 4 days ago Not when all BTC transactions are heavily taxed and a fucking headache and that the government can set whatever tax they want to render BTC completely useless. Not to mention what's needed for hyperinflation to occure and that inflation has already been reduced to nearly 3% YOY at this rate and that the FED is already considering rate cuts in the near future. Not to mention BTC will still be heavily manipulated far down the line and if we transfer to a BTC system the price/fiat ratio of BTC can drop 50% overnight based on the trading activity of billionaires/govts in another country. BTC replacing USD will never happen, flat out, even if hyperinflation would magically occur in the US permalink embed save parent report give award reply [–]treehermit 1 point2 points3 points 4 days ago …said Caesar confidently about the denarius towards the fall of the Roman Empire! permalink embed save parent report give award reply [–]Ragefan66 -1 points0 points1 point 4 days ago If the US/US dollar falls on the level how Rome did then you'll have a lot more to worry about than inflation or the hardships of life in a scenario where the US completely collapses. Not to mention any govt wherever you live can completely negate any positives BTC can provide, either by taxing each transaction by an ungodly amount or many other methods. Thinking BTC will save you in that scenario is foolish permalink embed save parent report give award reply [–]treehermit -1 points0 points1 point 4 days ago If you can envision this, then I think perhaps governments around the world can too. Maybe that's why the BRICS nations are currently in the process of launching their own commodity-backed currency? And Central banks in Europe and Asia are in a race to sell off their US treasury holdings? And smaller nations are quietly taking baby steps to move away from dollar based trade? Dedollarization was unthinkable a decade ago but is now being openly talked about in international conversations. I don't know if BTC will replace the dollar. But I know something WILL. A basket of currencies perhaps. I guess the threat that "we will bomb/ invade you and topple your government if you dare to trade in anything else except USD" tends to lose steam and becomes pretty much tiresome for everyone eventually.. permalink embed save parent report give award reply [–]Ragefan66 -1 points0 points1 point 4 days ago* The BRICS currency is literally being developed by Russia and was specifically made because they started a war in Ukraine. Your argument is in no good faith if you legitimately bring that up as even a slight potential cause for the fall of USD. Your other point of other countries selling off US treasuries is something that happens every single year. Every single major country on the planet has had an upward trajectory for US based treasuries in the last 8 years. What data are you looking at that suggests irregulaties in the pace of selling US treasuries? Also to no suprise countries might sell off their investments during times of economic crisis, its not like any other country is seeing a surge of treasury debt buys. A basket of currencies as trade is just beyond stupid and would never work lol, there's a reason why a dollar ETF hasn't been made and even considered among countries for the past 200 years, nor does it even make a lick of sense on paper lol. In reality there is no competition. A Russia developed currency that you first mentioned is laughable and the next best bet is China which the world would never adopt because of how they aren't transparent. The Euro or Canadians dollar?? 🤣🤣 I get the hate for USD, but you're kidding yourself with these points and I can't imagine you based your US treasury holding from actual statistics you saw and its more likely you saw a few article titles or two. permalink embed save parent report give award reply [–]Rey_Mezcalero 1 point2 points3 points 4 days ago You are correct. But you wasting your time trying to convince some of the day dreamers else wise. When I hear “BRICS” I have to laugh because anyone that has been in international business knows how well the BRICS threat went a couple decades ago… permalink embed save parent report give award reply [–]btcluvr 0 points1 point2 points 3 days ago heavily taxed by US gov or heavily taxed by bitcoin as network? US gov is taxing your dollars under the pillow even more effectively, just by emission and inflation. opt out, don't pay them. permalink embed save parent report give award reply [–]Ragefan66 0 points1 point2 points 3 days ago Govt can tax your BTC transactions. Why don't you try hiding your Bitcoin profits, not report any of it to the IRS and then let me know how that ends up for ya in 5 years 🤣🤣 Also in a world where BTC replaces USD the govt would need to tax the shit out of BTC to keep the country running. If everyone takes their notes from you then you can say goodbye to every single tax funded thing including paved roads lol. "JuSt dOn't pAy YoUr TaXeS" Brilliant move mate. permalink embed save parent report give award reply [–]btcluvr 0 points1 point2 points 3 days ago the choice is completely yours, i made my own. permalink embed save parent report give award reply [–]Quiet_International 0 points1 point2 points 2 days ago Actually if USD goes to hyperinflation then BTC will be worth $1,000,000 very fast! Only problem is that a loaf of bread will cost $400. permalink embed save parent report give award reply [–]Laiteuxxx 0 points1 point2 points 4 days ago* This. The only fair currency – the only one that matters. permalink embed save parent report give award reply [–]Rey_Mezcalero 0 points1 point2 points 4 days ago People want a variety of services from the gov and gov workers want juicy pensions and benefits permalink embed save parent report give award reply [–]BossKitten99 7 points8 points9 points 4 days ago Just wait. It gets a whole lot worse permalink embed save report give award reply [–]Bunker_Beans 7 points8 points9 points 4 days ago Can’t wait to see where we’re at in another twenty years. permalink embed save report give award reply [–]poluting -1 points0 points1 point 4 days ago It’s probably best to not stick around and find out. Working a remote job while living in Europe is looking more desirable than ever. permalink embed save parent report give award reply [–]sfink06 6 points7 points8 points 4 days ago Why do you think Europe is immune? permalink embed save parent report give award reply [–]poluting 0 points1 point2 points 4 days ago I don’t. The only benefit would be a cheaper cost of living for the same quality of life. I can work remotely and earn a high salary while living in a place that costs 1/3 of what it costs in America permalink embed save parent report give award reply [–]JakoDel 1 point2 points3 points 4 days ago factor out all countries above ~italy/austria and I can agree otherwise it's bs permalink embed save parent report give award reply [–]eroweenflow 0 points1 point2 points 3 days ago Depends where in Europe and where in America. SF and NYC don't have the same cost that somewhere lost in the middle of Wyoming. Same for London and South italy. Daily expenses are typically cheaper in America (expect their crap healthcare system) permalink embed save parent report give award reply [–]rock-island321 10 points11 points12 points 4 days ago That looks scary, shown inversely, like it's diving to hell! permalink embed save report give award reply [–]fisherprice1234_1776 7 points8 points9 points 4 days ago Lol because it is..... permalink embed save parent report give award reply [–]kwanijml 1 point2 points3 points 4 days ago Nah Mate, it's because this is actually Australia's debt graph. permalink embed save parent report give award reply [–]liquefire81 18 points19 points20 points 4 days ago Wonder what happened in the 1970s…. Dont answer, i know. permalink embed save report give award reply [–]Flat4Power4Life 8 points9 points10 points 4 days ago 1966 saw the birth of credit cards, the years that followed saw a switch to a credit based system economy. Endless borrowing, interest, and debt for the whole economy. permalink embed save parent report give award reply [–]roofgram 2 points3 points4 points 4 days ago Money printing, and subsequent lending was made possible from unpegging the dollar from gold. permalink embed save parent report give award reply [+]2xfun -9 points-8 points-7 points 4 days ago 1971* permalink embed save parent report give award reply [–]PrimaryThrowawayName 15 points16 points17 points 4 days ago Which was in the 1970s permalink embed save parent report give award reply [–]Blom-w1-o 5 points6 points7 points 4 days ago Can confirm. I was the 70s. permalink embed save parent report give award reply [–]2xfun 2 points3 points4 points 4 days ago I guess op was right. permalink embed save parent report give award reply [–]dexter_048 2 points3 points4 points 4 days ago 🤓 permalink embed save parent report give award reply [–]Huge_Yak6380 9 points10 points11 points 4 days ago one of the only good things about inflation is it lessens of the impact of the national debt permalink embed save report give award reply [–]Optimistic-Cat 8 points9 points10 points 4 days ago And personal debt, the monthly payment on 30 year mortgage is like 1/2 the original real cost by the end permalink embed save parent report give award reply [–]Huge_Yak6380 3 points4 points5 points 4 days ago That is a really interesting angle of this that I hadn't thought about permalink embed save parent report give award reply [–]Umpire_State_Bldg 3 points4 points5 points 4 days ago That's one thing I LOVE about Bitcoin - I am no longer forced to subsidize my neighbors' stupidity-based debts. There will NEVER be more than 21 million Bitcoins created. permalink embed save parent report give award reply [–]Quiet_International 0 points1 point2 points 2 days ago Interesting POV. But only viable if the mortgage is fixed rate. permalink embed save parent report give award reply [–]2xfun 5 points6 points7 points 4 days ago I guess that's the goal now... Hyperinflation here we go permalink embed save parent report give award reply [–]Umpire_State_Bldg 0 points1 point2 points 4 days ago It is a form of theft. permalink embed save parent report give award reply [–]in4life -1 points0 points1 point 4 days ago True. However, the debt growth has to stay within reason of GDP growth or even that is out the window. permalink embed save parent report give award reply [–]toqelowkey 7 points8 points9 points 4 days ago Can we do a log chart ? permalink embed save report give award reply [–]RTGold 7 points8 points9 points 4 days ago Nope, that'd be too helpful. This makes it looks worse and follows the narrative. permalink embed save parent report give award reply [–]kirovreported 13 points14 points15 points 4 days ago I think it must be compared with GDP grow for honesty. permalink embed save report give award reply [–]Lord-Dongalor 10 points11 points12 points 4 days ago The point is that it’s all fake. If GDP and debt both go up and the PPP of a currency goes down, then it’s all just for show. permalink embed save parent report give award reply [–]kirovreported 2 points3 points4 points 4 days ago Agree. But I am interested in the mathematical side. I think the decline in dollar PPP should correlate with the difference between GDP and debt growth. permalink embed save parent report give award reply [–]2xfun -1 points0 points1 point 4 days ago Here's the way I see it: when you're in debt your borrowers own your ass. I'd rather be debt free. permalink embed save parent report give award reply [–]Lord-Dongalor 6 points7 points8 points 4 days ago For personal finance that works great. But for a fiat or debt backed currency, being debt free is not a good thing. The debt is what gives the currency value. The greater the debt, the greater the interest in repayment. Of course this is bad for the citizens, which is why Bitcoin was developed in the first place. permalink embed save parent report give award reply [–]Bad_Camel 3 points4 points5 points 4 days ago GDP grew because of cheap money, stimulus and lots of debt. permalink embed save parent report give award reply [–]BrotherAmazing 5 points6 points7 points 4 days ago You left out productivity. That is actually key to sustainable GDP increases in a nation whose populations aren’t growing. permalink embed save parent report give award reply [–]kwanijml 1 point2 points3 points 4 days ago GDP grew because of cheap money, stimulus and lots of debt. Nominal GDP. For short spurts. Inflation and debt don't produce wealth and dont create increases in real (inflation adjusted) GDP in the long run. So we can measure debt to real GDP and get something approaching a useful picture of the growth in debt. permalink embed save parent report give award reply [–]FUSeekMe69 0 points1 point2 points 4 days ago Jeff booth makes the point that for everything to work, everything must always go up (debt, production, consumption, etc.), yet that can’t happen on a finite world. I always like to think why do we need 100s of flavors and brands of cereal? Because they have to continue to grow. In the weeds a little bit, but why do we need cereal at all? Just convenience because we have to work so much. permalink embed save parent report give award reply [–]Lynxes_are_Ninjas 0 points1 point2 points 3 days ago Compare it to average or median income. permalink embed save parent report give award reply [–]will042082 3 points4 points5 points 4 days ago Point to the graph where the bad men fucked you, decoupling the dollar and gold permalink embed save report give award reply [–]PumperNikel0 2 points3 points4 points 4 days ago We’ll triple those numbers in no time, baby. permalink embed save report give award reply [–]mathaiser 1 point2 points3 points 4 days ago It’s like “who’s line is it anyway” where everything is made up and the points don’t matter. permalink embed save parent report give award reply [–]shadowmage666 7 points8 points9 points 4 days ago Almost like money not backed by anything devalues heavily over time, hmmm permalink embed save report give award reply [–]roofgram 2 points3 points4 points 4 days ago A fiat currency needs to be ‘backed’ by leaders with enough self control to not run the money printers at full throttle. Since that seems impossible now, the only answer is gold or bitcoin. permalink embed save parent report give award reply [–]Firebelley 2 points3 points4 points 4 days ago Nice little spiral we have going on. It's politically impossible to make the budget reforms necessary, so we're just gonna see what level of debt will completely destroy the global economy. At least it might be a learning experience for future governments (probably not though). permalink embed save report give award reply [–]Umpire_State_Bldg 2 points3 points4 points 4 days ago Welcome to the United States of Zimbabwe Economics. permalink embed save parent report give award reply [–]PopLock-N-Hold-it 2 points3 points4 points 4 days ago Compounding interest right in the ass permalink embed save report give award reply [–]National-Ad630 2 points3 points4 points 4 days ago What a time to be alive! permalink embed save report give award reply [–]Holdino01 2 points3 points4 points 4 days ago If you flip it upside down it I’ll soon be the bitcoin chart permalink embed save report give award reply [–]theproblemofevil666 2 points3 points4 points 4 days ago Quadrillion debt, now in the crosshairs. permalink embed save report give award reply [–]aed38 2 points3 points4 points 4 days ago Would this be called a blow-off bottom? I think we've gone past the point of no return. permalink embed save report give award reply [–]sescobreezy727 2 points3 points4 points 4 days ago double that by 2030, 62 trillion. permalink embed save report give award reply [–]therobohour 2 points3 points4 points 4 days ago Does...does it matter? permalink embed save report give award reply [–]SuspiciousStable9649 2 points3 points4 points 3 days ago In theory, eventually the interest payment on the debt will overwhelm the annual budget. I have no idea what will happen to regular folks. permalink embed save parent report give award reply [–]therobohour 1 point2 points3 points 3 days ago And that would be different how? permalink embed save parent report give award reply [–]BradBiondo 2 points3 points4 points 4 days ago Complete morons running the country permalink embed save report give award reply [–]Quiet_International 0 points1 point2 points 2 days ago What would you do differently ? permalink embed save parent report give award reply [–]duckofdeath87 2 points3 points4 points 4 days ago I don't think Federal Debt and USD money printing should be thought of as the same thing permalink embed save report give award reply [–]Classic_Ad3154 1 point2 points3 points 4 days ago I guess if this was a stock the rest of the world would have been shorting it since the 70's! permalink embed save report give award reply [–]Zanakant 1 point2 points3 points 4 days ago these are rookie numbers permalink embed save report give award reply [–]unholyphysics 1 point2 points3 points 4 days ago Does anyone have a logged graph of this? permalink embed save report give award reply [–]Friendly-Western-677redditor for 3 months 1 point2 points3 points 4 days ago Negative debt means they are rich though. LOL permalink embed save report give award reply [–]rottiesrule88 1 point2 points3 points 4 days ago It is to protect us from the speculators. permalink embed save report give award reply [–]Umpire_State_Bldg 0 points1 point2 points 4 days ago LMAO! YES!! THAT is what Nixon claimed! What a criminal stooge he was! permalink embed save parent report give award reply [–]fisherprice1234_1776 1 point2 points3 points 4 days ago That's why a home now costs 600k for a POS permalink embed save report give award reply [–]steaveaseageal 1 point2 points3 points 4 days ago I see -32t 🚀🚀🚀🔥🔥 permalink embed save report give award reply [–]DetectiveTank 1 point2 points3 points 4 days ago Nothing a couple platinum shitcoins can't fix, right?! permalink embed save report give award reply [–]SecureCross 1 point2 points3 points 4 days ago Fed’s money printer: BUT WAIT! There’s more permalink embed save report give award reply [–]SrDiluca1992 1 point2 points3 points 4 days ago A toast to the land of opportunities. permalink embed save report give award reply [–]swingerfinger 1 point2 points3 points 4 days ago but nvda !!!! permalink embed save report give award reply [–]r4wbon3 1 point2 points3 points 4 days ago I get the Nixon drop, but what the heck about the 1940s where we comparatively spent ~1 Trillion, that just seems so off. permalink embed save report give award reply [–]CodyInColor 0 points1 point2 points 4 days ago The mustache man was trying to take over Europe (and then the world) permalink embed save parent report give award reply [–]Quiet_International 0 points1 point2 points 2 days ago War permalink embed save parent report give award reply [–]Flat4Power4Life 1 point2 points3 points 4 days ago You can see exactly when we switched to a credit based system in the 80’s. permalink embed save report give award reply [–]Mummy_Disciplineredditor for 3 weeks 1 point2 points3 points 4 days ago Yikes....DCA BTC permalink embed save report give award reply [–]SaggeeDot 1 point2 points3 points 4 days ago As they say, “This is good for Bitcoin.” Actually permalink embed save report give award reply [–]Traditional_Tomato48 1 point2 points3 points 4 days ago America has been spreading wealth around the world and concentrating wealth in the financial sector. As much as I love global trade, it feels like there will have to be some kind of change at some point and price stabilization. The most powerful nation on earth being that far in debt is dangerous for everyone. permalink embed save report give award reply [–]Equal-Wave-8443 1 point2 points3 points 4 days ago Apparently, money printers go brrr. permalink embed save report give award reply [–]Brickback721 1 point2 points3 points 4 days ago Blame the Taxcuts for the wealthy and Reagan permalink embed save report give award reply [–]allenout[🍰] 1 point2 points3 points 3 days ago The conomy has grown a lot since 1980, there are companies now which are more valuable than the entire GDP of the US back then. You need to look at Debt as of % of GDP to get an accurate figure. permalink embed save report give award reply [–]18476 1 point2 points3 points 3 days ago Another interesting fact. The ENTIRETY OF WWII cost the USA 4.1 Trillion adjusted for inflation. Debt/GDP is fawked. Source permalink embed save report give award reply [–]Alternative-Maybe183 1 point2 points3 points 3 days ago debt forever.. usa wont be able to payback even 50% debt. This sort of overspending will collapse USA sooner or later. things can only go on for a period and nit forever.. collapse is Imminent .. permalink embed save report give award reply [–]Alternative-Maybe183 1 point2 points3 points 3 days ago Yearly bill of 800 billion usd for milliatry? no doubt the inflated debt.. permalink embed save report give award reply [–]One_Scratcho 1 point2 points3 points 3 days ago What debt if they prints money? If i print momey its crime tho... permalink embed save report give award reply [–]wall_st_yoda 1 point2 points3 points 3 days ago Clearly going away from the gold standard is what started this and led to where we are at now permalink embed save report give award reply [–]TriggeredUBruh82 0 points1 point2 points 3 days ago This! permalink embed save parent report give award reply [–]waffles4us 1 point2 points3 points 3 days ago As a country, this is also representative of what our physical activity levels have done And inversely what our caloric intake has done permalink embed save report give award reply [–]overcooked_sap 1 point2 points3 points 3 days ago So old I remember when it crossed the 1 trillion mark and it was all over the news. permalink embed save report give award reply [–]monkofnow 1 point2 points3 points 3 days ago Very thankful for this!!! Without this, Bitcoin wouldn't have been created! :) permalink embed save report give award reply [–]monkofnow 0 points1 point2 points 3 days ago Witnessing the rise of Bitcoin is like Witnessing Van Gogh in person paint Starry Night. permalink embed save parent report give award reply [–]AtlaStar 2 points3 points4 points 4 days ago And the national wealth to debt ratio has gone from 6.67 since 1990 to 4.38, which is a much more interesting metric. So even though our debt has increased by about x10 since 1990, our overall wealth has only increased by about x7. Overall we have less wealth per debt than before, so I agree we need to reign in debt or put our debt to better use...but showing debt in a vacuum is meaningless. This also doesn't account for any wealth hiding shenanigans the uber rich pull, but it is still apt even without that data because that hidden wealth is functionally not benefitting the rest of society anyway; if overall wealth has increased to a greater amount, or even surpassed debt increases, it'd just show that our national debt is being used in a way to assist the uber wealthy which would be even worse than wealth not increasing as much as our debts. permalink embed save report give award reply [–]bmorehalfazn 4 points5 points6 points 4 days ago Right - after seeing this I immediately googled the US GDP over 20 years as well. It hasn’t increased as drastically, but there’s a clear correlation. The prevailing idea from a public service POV is that debt we saddle is used to improve the country for all (in theory). We take on debt to invest in infrastructure because that has long term payouts (increase in commerce, reduction in traffic congestion, increase in metropolitan revenues); we invest in education because that has long term payouts (innovation, skilled labor, efficiency, etc); we invest in military for long term payouts (won’t go into this); we invest in healthcare for long term payouts (healthier populace means less expenditure for more expensive treatments, less public funding required for communicable disease tx and remedies, etc). I’m less worried about our debt as I am our GDP growth. In theory, we’re putting a lot of this money into areas that will pay dividends. When our GDP starts dropping drastically while the debt continues to grow is where we’ll hit real problems. Understandably, continuing to run a deficit is not ideal, but under liberal/moderate leadership I have more confidence that this money is going towards infrastructure, healthcare, and education, rather than funding tax breaks for the rich at the expense of the country. 8 trillion over the 4 years from the previous administration was insane for what little went into actual forward thinking policies and investments. permalink embed save parent report give award reply [–]AtlaStar 0 points1 point2 points 4 days ago This is my thought as well, but as I said there definitely is a shrinking of that ratio, which suggests that the debt is being used in a less effective way than it was previously. Now this could be due to a multitude of factors, and as I couldn't find a chart of that ratio but had to derive it myself I would be interested how such a chart would correlate to recessions and increases in corporate wealth. Edit: to clarify the numbers I was posted was not the debt to GDP ratio but household wealth to debt, of which there is not a chart comparison of like there is for debt to GDP. permalink embed save parent report give award reply [–]Quiet_International 0 points1 point2 points 2 days ago Shush up with your reason and logic! This is Reddit where only FUD and panic are allowed. permalink embed save parent report give award reply [–]CodyInColor 2 points3 points4 points 4 days ago Government debt in isolation is a strange/irrelevant number to look at. The relevant number is debt/GDP ratio, and for most healthy economies it's between 50%-100% (although there are exceptions). The US sits around ~120% last time I checked (which is prob a bit bloated). For reference: Japan is 230% Greece is 170% France, Spain, Egypt, & Canada are all ~100% Germany is 60% South Korea is 40% I frequently see people talk about how "America debt bad", which is a poor criticism. I don't disagree that we have too much debt, but it's not bad because number big, it's bad because it represents an outsized percentage of our GDP. Debt/GDP doesn't tell the whole economic story, but it is a better metric than just the debt. It's the equivalent of telling me how much debt Microsoft has. Like okay? and what were their earnings last year? What are they investing their debt into? etc. permalink embed save report give award reply [–]ElderBlade 0 points1 point2 points 3 days ago US debt to gdp sits at 129%. Since 1800, 51 of 52 countries that reached 130% debt to gdp eventually defaulted. The one exception is Japan which is hanging off a cliff, buy their own bonds with the central bank and engaging yield curve controls. Greece already defaulted a few years ago. The US is literally in a debt spiral in which it has to keep borrowing more to pay debts rolling over. As the national debt grows, more and more of the gdp will have to go to interest payments. Its own Treasury department released a report titled "An Unstainable Path" in which it projects debt to gdp to reach 200% by 2040, and exceed 400% by 2060... permalink embed save parent report give award reply [–]CodyInColor 0 points1 point2 points 3 days ago* It's important to keep two things in mind 1) The US is incapable of defaulting regardless of debt. Even in the worst case scenario, we still print the currency that our debt is issued in. 2) That treasury report is made to explain our current fiscal situation & persuade government officials that change is needed before a problem gets too big. It's NOT a real prediction. It assumes "current policy will continue indefinitely". "To determine if current fiscal policy is sustainable, the projections based on the assumptions discussed in the Financial Report assume current policy will continue indefinitely.1 The projections are therefore neither forecasts nor predictions. Nevertheless, the projections demonstrate that policy changes need to be enacted for the actual financial outcomes to differ from those projected" So, the real concern is something like: How likely is US fiscal policy to change, such that, it stabilizes &/or reverses the current trend of increasing debt/GDP? I would posit that it's much more likely than not, but in a democratic system you never truly know what will happen lol. That's one of the many reason BTC is an attractive option - a fixed monetary policy, not subjected to election cycles, politicians, or democratic whims. edit: formatting permalink embed save parent report give award reply [–]ElderBlade 0 points1 point2 points 3 days ago 1) The US is incapable of defaulting regardless of debt. Even in the worst case scenario, we still print the currency that our debt is issued in. This is not true. As debt to gdp rises, more and more of government tax revenue has to go to interest payments. Printing the currency doesn't work forever because 1) This increases inflation and at some point you get hyperinflation and the currency collapses and 2) Government bond yields become worthless as inflation outpaces their yield. The government has to yield curve control which increases debt payments or risk not being able borrow money anymore. Worst case it has its own central bank buy its own bonds (seen japan) 2) That treasury report is made to explain our current fiscal situation & persuade government officials that change is needed before a problem gets too big. It's NOT a real prediction. It assumes "current policy will continue indefinitely". Idk if you've noticed by the government has not changed course since the 1970s. The only way to get out of this is to cut spending or raise taxes which are both political suicide. And we're past the point of no return. It has to keep borrowing. It's not going to reverse. permalink embed save parent report give award reply [–]CodyInColor 0 points1 point2 points 3 days ago Printing the currency doesn't work Except it literally does. Yes this causes inflation. Yes it's bad for ordinary citizens as it devalues their currency and lowers PPP. Yes bond yields will go down. This isn't the best option (literal worst case scenario & very unlikely), but it is possible. The only way to get out of this is to cut spending or raise taxes which are both political suicide So you see spending cuts & raising taxes as political suicide.... But you don't see the US government defaulting on it's debts as political suicide? One of these things is clearly worse than the others. Also, being anti-default is a bi-partisan issue. Nobody, democrats or republicans, wish to default. They disagree about the best way to avoid it, but nobody is pro-default lol. And we're past the point of no return ... It's not going to reverse Nope. Like you mentioned spending cuts and/or higher taxes would do the job. Also, higher gdp does the job too. A hallmark of the American economy is the ability to innovate your way out of problems. So, austerity measures, innovation, or some combination of the two is what avoids a default. Not past the point of no return just yet. permalink embed save parent report give award reply [–]ElderBlade 0 points1 point2 points 3 days ago So you see spending cuts & raising taxes as political suicide.... But you don't see the US government defaulting on it's debts as political suicide? One of these things is clearly worse than the others. Also, being anti-default is a bi-partisan issue. Nobody, democrats or republicans, wish to default. They disagree about the best way to avoid it, but nobody is pro-default lol. I agree no one is pro-default. Defaulting is obviously worse and that's why they will keep raising the debt ceiling and kick the can down the road. This supports my point that they cannot reverse course. Nope. Like you mentioned spending cuts and/or higher taxes would do the job. Also, higher gdp does the job too. A hallmark of the American economy is the ability to innovate your way out of problems. I admire your optimism on this topic but congress has not indicated they will cut spending or raise taxes enough to reverse course for decades. They don't have the political will and the actions needed would be quite drastic. Higher gdp is less likely because 1) the workforce is shrinking, not growing due to lower birth rates and 2) productivity needs to increase gdp several fold to even make a dent in the debt to gdp ratio. This is a serious problem that no is even trying to solve. It's not turning around. permalink embed save parent report give award reply [–]DrRobertBottle 2 points3 points4 points 4 days ago Rule #3 of bitcoin, all graphs should be plotted on a log graph permalink embed save report give award reply [–]Quiet_International 0 points1 point2 points 2 days ago Agreed permalink embed save parent report give award reply [–]Knerd5 2 points3 points4 points 4 days ago Funny how things go out of control when Regan was elected and absolutely slashed taxes at the top end. permalink embed save report give award reply [–]dkstyle702 4 points5 points6 points 4 days ago Yup that’s capitalism and trickle down method. It works so well permalink embed save parent report give award reply [–]Knerd5 0 points1 point2 points 4 days ago Yup, it makes total sense if you don’t think about. permalink embed save parent report give award reply [–]rnddude4828 1 point2 points3 points 4 days ago Haha and they say bitcoin is a bubble permalink embed save report give award reply [–]Most-Detective3786 1 point2 points3 points 4 days ago The dollar is worth zero ... The thing is: people haven't realized yet. 🤣 permalink embed save report give award reply [–]Quiet_International 0 points1 point2 points 2 days ago Btc is also worth zero of dollar is worth zero. permalink embed save parent report give award reply [–]PM_ME_YOUR_THESES 1 point2 points3 points 4 days ago I love bitcoin and I agree with the sentiment on debt here. But this number is just stupid. Nobody cares what the debt’s size is by itself. The relevant number is a ratio of debt to budget income, or debt to GDP. If you saw two people on the street, and one was $100 in debt and the other was $100,000 in debt, you wouldn’t necessarily think the guy with the bigger debt was poorer. But if I told you the guy with $100 in debt was jobless and had a disability that prevented him from work, and his debt was to a drug dealer, and the other guy was an exec making $500,000 a year and his debt was his mortgage, then you’d understand that the guy with $100 debt was worse off… permalink embed save report give award reply [–]CodyInColor 1 point2 points3 points 4 days ago Exactly. "Big debt bad" is a poor argument. "Debt/GDP ratio too high" is a more reasonable argument permalink embed save parent report give award reply [–]reggie_crypto 0 points1 point2 points 4 days ago I think the takeaway here is the progression of the trend over time, rather than the size. permalink embed save parent report give award reply [–]PM_ME_YOUR_THESES 1 point2 points3 points 4 days ago But if income were rising faster than debt, what would it matter? My point isn’t that it’s wrong to worry. My point is that the other figure (debt/gdp ratio) is more resistant to criticism. permalink embed save parent report give award reply [–]ElderBlade 2 points3 points4 points 4 days ago Add at least another $4 trillion over the next 2 years with the debt ceiling SUSPENDED. We likely won't ever have a debt ceiling again. Expect the debt to accelerate moving forward. permalink embed save report give award reply [–]Umpire_State_Bldg 3 points4 points5 points 4 days ago We likely won't ever have a debt ceiling again. Ooof. You're right. Move over Zimbabwe... permalink embed save parent report give award reply [–]Brettanomyces78 1 point2 points3 points 4 days ago The debt ceiling has nothing to do with this. Congress is not limited by it when appropriating funds. The issue of the debt ceiling is only a question of if we pay the bills we already committed money for. Not unlike paying your credit card balance, or not. The money was spent in advance. permalink embed save parent report give award reply [–]ElderBlade -2 points-1 points0 points 3 days ago The debt ceiling is suspended until January 1st, 2025. That is beyond the approved budget for fiscal year 2024, and there are no caps after fiscal 2025. permalink embed save parent report give award reply [–]Brettanomyces78 1 point2 points3 points 3 days ago I'm not sure what your point is. The debt ceiling is political theater. It serves no practical purpose, and never has. Suspending it for two years just removes the theater for almost 2 years. permalink embed save parent report give award reply [–]ElderBlade -2 points-1 points0 points 3 days ago The point is they have a window of unlimited spending. And my original point is saying they will just extend it again in 2025, effectively eliminating the debt ceiling. permalink embed save parent report give award reply [–]Brettanomyces78 1 point2 points3 points 3 days ago That's where you're fundamentally wrong on this (i.e., there is not a new window of unlimited spending). I believe it's because you don't understand how the budgeting process works and how Congress appropriates funds. Specifically, you seem to be under the mistaken impression that the debt ceiling limits the spending of the federal government. It does not, and never has. permalink embed save parent report give award reply [–]ElderBlade 0 points1 point2 points 3 days ago It seems you are misunderstanding the details of the bill. I know that congress has already budgeted and approved the spending for this year. The debt ceiling needs to be raised in order to pay for the already approved spending. This bill completely suspends the debt ceiling until 2025 with some caps on non-defense spending. And after 2025, there are no caps. This is effectively unlimited spending in this 2 year period and beyond. permalink embed save parent report give award reply [–]Brettanomyces78 0 points1 point2 points 3 days ago First paragraph indicates you probably do get this. But to be fair, you weren't displaying that earlier. So what caps existed on spending prior to this bill? What changed, exactly? You're implying there were hard caps before? permalink embed save parent report give award reply [–]ElderBlade 0 points1 point2 points 3 days ago The cap that existed prior to the bill was the debt ceiling. With the debt ceiling suspended, they are placing caps on spending until 2025 as a way of limiting spending, but it only applies to non-defense spending. permalink embed save parent report give award reply [–]Brettanomyces78 0 points1 point2 points 3 days ago So we're back to square one. You really don't get that the debt ceiling does not cap spending after all. Never has. permalink embed save parent report give award reply continue this thread [–]independenthinkerdc 0 points1 point2 points 4 days ago Ronald Reagan and the rest of the GOP cutting taxes for the rich and starting endless wars… permalink embed save report give award reply [–]DetectiveTank 5 points6 points7 points 4 days ago This is a bipartisan effort my friend. permalink embed save parent report give award reply [–]independenthinkerdc 0 points1 point2 points 3 days ago Reagan was president in the entire 80s and cut taxes for the rich and corporations across the board. Look again at the timeline - that is when things started snowballing. permalink embed save parent report give award reply [–]DetectiveTank 0 points1 point2 points 3 days ago Well I'm not going to argue that Reaganomics wasn't a scam. It definitely was. permalink embed save parent report give award reply [–]magnetichira 0 points1 point2 points 4 days ago They ain't paying that back permalink embed save report give award reply [–]red325is 1 point2 points3 points 4 days ago you think? lol permalink embed save parent report give award reply [–]magnetichira 0 points1 point2 points 4 days ago https://www.youtube.com/watch?v=TY3VVhx__qo permalink embed save parent report give award reply [–]BrotherAmazing 0 points1 point2 points 4 days ago Yes they are, just in dollars whose purchasing power is less than what it is today! 😆 permalink embed save parent report give award reply [–]RTGold 0 points1 point2 points 4 days ago Show a chart that was GDP. It'll look nearly the same. permalink embed save report give award reply [–]SaneLad 0 points1 point2 points 4 days ago Yes it's bad. These kind of charts really need to be adjusted for inflation though. National debt numbers are only meaningful if adjusted for inflation or relative to GDP. permalink embed save report give award reply [–]Responsible_Cod_1453 0 points1 point2 points 4 days ago Interesting, no wonder they hoarding gold coz eventually it'll have to go to gold standard or standard that the masses choose permalink embed save report give award reply [–]poluting 3 points4 points5 points 4 days ago I was just thinking the only way out of this is to go back to the gold standard. But that won’t happen until the value of the dollar is absolutely obliterated. permalink embed save parent report give award reply [–]republicans_are_aids -1 points0 points1 point 4 days ago It will fake a whole new currency backed by gold... Which is what brics is attempting to do. permalink embed save parent report give award reply [–]Jezzes 0 points1 point2 points 4 days ago Good thing we have a debt ceiling lol permalink embed save report give award reply [–]volcanonacho 0 points1 point2 points 4 days ago That house seems to be remodeled quite often. permalink embed save parent report give award reply [–]Familiar-Unfamiliar 0 points1 point2 points 4 days ago Love how the only lateral movement in recent years was Obama permalink embed save report give award reply [–]steezyleadhook 0 points1 point2 points 4 days ago doesn't mean anything in reality. Inflation, GDP increase, etc etc. This shit is just scaremongering propoganda permalink embed save report give award reply [–]rudy_batts 0 points1 point2 points 3 days ago Actually 80% of it was printed in the past 14 years permalink embed save report give award reply [–]Wrldtrvlr2021 -1 points0 points1 point 4 days ago It is only going to go higher with all the illegals pouring in. permalink embed save report give award reply [–]narrowphoenix_2006 -1 points0 points1 point 4 days ago And not much to show for it……🤮 permalink embed save report give award reply [–]SusanMilberger 1 point2 points3 points 4 days ago Besides the military lol permalink embed save parent report give award reply [–]Timelapze -1 points0 points1 point 4 days ago What’s the debt to GDP ratio look like over that time period? permalink embed save report give award reply [+]Zealousideal_Neck78 -9 points-8 points-7 points 4 days ago Entitlements out of control will do that. permalink embed save report give award reply [–]nyaaaa 5 points6 points7 points 4 days ago No. Stop getting brainwashed by capitalists. permalink embed save parent report give award reply [–]DaddyDontTakeNoMess 3 points4 points5 points 4 days ago If you mean “entitlements” to mean “tax breaks for the rich”, then, yes, I agree with you. permalink embed save parent report give award reply [–]mandrake92 0 points1 point2 points 4 days ago 2 wars and several interventions sure didn't help. Really especially the invasion of Iraq was used to line the pockets of the rich. Not even stealing oil. Dick Cheney was a former ceo of a company that got the largest dod contract at the time. Suspicious how his buddies got that. permalink embed save parent report give award reply [–]motbackwords -3 points-2 points-1 points 4 days ago This goes to my theory that everything went to shit with Ronald Reagan. He had Alzheimer’s, and the deep state took full advantage of that, and it’s been downhill ever sense. permalink embed save report give award reply [–]Jim_Reality 0 points1 point2 points 4 days ago Wait. Who are we in debt too???? permalink embed save report give award reply [–]Umpire_State_Bldg 0 points1 point2 points 4 days ago The people we're paying interest payments on that debt to. permalink embed save parent report give award reply [–]Last_Nefariousness88 0 points1 point2 points 4 days ago What is that 5 trillion in today's dollars? permalink embed save report give award reply [–]Beesters2005 0 points1 point2 points 4 days ago Its fine permalink embed save report give award reply [–]Analog_AI 0 points1 point2 points 4 days ago When I see the froth from 5 T to 32 T in just 20 years, I’m impressed at the growth rate. 9.75% growth rate per year is fantastic! Then I realized that’s the growth rate of the debt. Not looking so fret now. permalink embed save report give award reply [–]DarthBen_in_Chicago 0 points1 point2 points 4 days ago It is unrealistic for this to be paid down as it would require sacrifices by all and bold decisions by politicians. Save yourself by saving in bitcoin. permalink embed save report give award reply [–]eternalpenguin 0 points1 point2 points 4 days ago Debt should be depicted in logarithmic scale. This will ensure that it does not look frightening permalink embed save report give award reply [–]jonesocnosis 0 points1 point2 points 4 days ago The better chart is the one that shows the revenue and the deficit on the same chart. permalink embed save report give award reply [–]RattleSnakeSkin 0 points1 point2 points 4 days ago Love budget season. Best advert for BTC! permalink embed save report give award reply [–]Tjomek 0 points1 point2 points 4 days ago These guys need a reddit account so they can post this loss porn on r/wallstreetbets permalink embed save report give award reply [–]PhysicalConnection80 0 points1 point2 points 4 days ago Yeah but it's not real money. Physical gold is real money. What it is. Is a private central bank issuing instruments of debt to a corrupt - fake company called US. Gov. You have to be real stupid not see that its nothing more then toilet paper printed 100 usd on it - fooling the public as real money. permalink embed save report give award reply [–]Mpc1300 0 points1 point2 points 4 days ago I think it’s helpful to stop looking at the debt as “money we owe” but rather as “currency we’ve exported” then you will understand why, for better or worse, a voluntary default is never gonna happen. The US military industrial complex has become a corporation that sells debt, and inherent in this is an ever rising national deficit. The byproduct of this that “they” (the socio economic elite in America) get extremely wealthy and powerful, the average US citizen gets a devaluing pension (social security) and the rest of the world gets enslaved by inflation. The system is working exactly as it’s intended to; an exponentially rising national deficit is a feature not a bug. This whole structure is backed by war and the assumption that America will remain productive enough to prob up the system. permalink embed save report give award reply [–]No-Calligrapher255 0 points1 point2 points 4 days ago Still 21milli! permalink embed save report give award reply [–]Academic-Geologist-1 0 points1 point2 points 4 days ago I thank the geriatric community of America permalink embed save report give award reply [–]FrizzleFrazzleFrickredditor for 3 months 0 points1 point2 points 4 days ago Looks like a scalable mountain. permalink embed save report give award reply [–]BITMiningLimited 0 points1 point2 points 4 days ago The newly minted bitcoin chart looks like the exact opposite permalink embed save report give award reply [–]Professional-Kiwi144 0 points1 point2 points 4 days ago Don’t be scared, it is just upside down permalink embed save report give award reply [–]HornyDudeLB 0 points1 point2 points 4 days ago Yea, ppl are freeloaders and like their social programs without budgeting, money has to come from somewhere, it doesn’t magically appear. Long time ago, I knew this lady who was getting ebt and buying so much food, she was giving it away because it was about to expire. I understand cost of living is high and people sometimes need help, but there’s a fine line between help and abusing. Also, we want to create all these programs to help homelessness, it’s a problem, but they’re not cheap either, and people love tax cuts but not paying taxes, which is the only way the gov makes money permalink embed save report give award reply [–]DontMindMeJustTripinredditor for 7 weeks 0 points1 point2 points 4 days ago When this is compared to an inflation and total us currency char it matches up permalink embed save report give award reply [–]Anonyman0009 0 points1 point2 points 4 days ago Big crash of tech stocks in 2000, then after 9/11 in 2001 and the keep America rolling campaign launched by Bush Jr with 0% rates, it's been piling on and that money printer has been on fire permalink embed save report give award reply [–]steve21585 0 points1 point2 points 4 days ago And they have the nerve to give us credit scores. The hypocrisy permalink embed save report give award reply [–]Stew-Cee23 0 points1 point2 points 4 days ago The way it's increased exponentially... Yikes permalink embed save report give award reply [–]stayyfr0styy 0 points1 point2 points 4 days ago Ah yes, after leaving the gold standard 50 years ago, spending and debt has become exponential permalink embed save report give award reply [–]SleepPressure 0 points1 point2 points 4 days ago Self inflicted. Starve the beast doesn't work if you cut revenues but don't cut spending. permalink embed save report give award reply [–]deepaltvalue 0 points1 point2 points 4 days ago Well yeah when you see the economy start collapsing you've got to spend more to prop it up artificially so that everything else doesn't collapse too. permalink embed save report give award reply [–]marlinmarlin99 0 points1 point2 points 4 days ago Used to be awe in middle school when debt was under 10 trillion. Shits getting crazy permalink embed save report give award reply [–]forgotmypassword4714redditor for 4 weeks 0 points1 point2 points 4 days ago We definitely can't afford to be always sending billions of dollars to other countries. In fact I'd guess that the countries we give money to aren't as deep in debt as we are. permalink embed save report give award reply [–]wowridiculous 0 points1 point2 points 4 days ago What’s next? The $1000 dollar bill is on the way? permalink embed save report give award reply [–]Demonyx12 0 points1 point2 points 4 days ago Tulips doing what tulips do. permalink embed save report give award reply [–]Robinhood-is-a-scam 0 points1 point2 points 3 days ago In debt to who? Aliens? That’s the problem. Who is the Don? What entities are those that have no debt and have enslaved every country with these debt mountains? The globe is something like 150 -250 trillion dollars in debt. “Central banks” isn’t a good enough answer. permalink embed save report give award reply [–]this_is_me_1990 0 points1 point2 points 3 days ago This is a good question. Like, who’s the debtee here? permalink embed save parent report give award reply [–]DrNO811 0 points1 point2 points 3 days ago https://www.pgpf.org/blog/2023/05/the-federal-government-has-borrowed-trillions-but-who-owns-all-that-debt#:\~:text=Investors%20in%20Japan%20and%20China,purchases%20of%20U.S.%20Treasury%20securities. permalink embed save parent report give award reply [–]egpayne93 0 points1 point2 points 3 days ago Take this chart, rotate 180, and realize thousands if not more benefitted from this. I am mad “sips beer” permalink embed save report give award reply [–]whodatus 0 points1 point2 points 3 days ago I like how pointy it is now, looks sharp 😎 permalink embed save report give award reply [–]ExtraSir6817 0 points1 point2 points 3 days ago Tax cuts to the rich-look at the trend for income inequality too permalink embed save report give award reply [–]ComplexWatercress113redditor for 7 weeks 0 points1 point2 points 3 days ago Apparently, someone forgot to carry the Bitcoin. permalink embed save report give award reply [–]Smilejester 0 points1 point2 points 3 days ago Capitalism is fragile permalink embed save report give award reply [–]System900rrCity 0 points1 point2 points 3 days ago Can this get steep enough that we travel back in time permalink embed save report give award reply [–]bowdo 0 points1 point2 points 3 days ago https://youtu.be/O1hCLBTD5RM permalink embed save report give award reply [–]Albertsongman 0 points1 point2 points 3 days ago Stock market returns are heavily mitigated by the devaluation of the dollar. permalink embed save report give award reply [–]Spartanarrow2023redditor for 2 weeks 0 points1 point2 points 3 days ago i saw the future... 230 trillions in 2100... USD is strong! permalink embed save report give award reply [–]419Patrone 0 points1 point2 points 3 days ago Because there are more things over the time and u all like thinks . the 500 coins from a kingdom in the middle age wont be enough to give everything it’s worth. That’s y the print enough money for everything permalink embed save report give award reply [–]karmassacre 0 points1 point2 points 2 days ago 1971 and 2001... oof. permalink embed save report give award reply