What assets can the US sell to cover its 10T deficit?

[theeedude]

Don't we have too much real estate already? How would opening up nature preserves to developers help?

 

[gevorg]

Originally posted by: Brovane
The US has a lot of assets.

Lots of military hardware that could be sold. Also the US government owns lots of land that potentially could be sold off. Not even getting into hard assets like gold that the US owns.

US already leads as an exporter of military goods to developed countries. There is not much area to expand, other than competing with Russia in selling military hardware to developing countries, but there is less money there and they want it for cheap.

Originally posted by: senseamp
For all our politicians' stupidity, they were smart enough to borrow in US dollars, so we can always repay the debt by just printing more money.

If this is true, then I'm afraid double digit inflation and a new Fed is the only solution without selling of major assets.

Originally posted by: SolMiester

NASA?

Why buy NASA when most of its accomplishments/discoveries are given to the world for free?

 

[PingSpike]

Originally posted by: scruffypup
Comeon people this is an easy one,... sell Washington DC and certain "inhabitants" for $1 and we will be fine in a year or two,.....

Wouldn't it cost a lot to wall them in first? I don't think the deal would work if they could just walk out of there and back into the US.

I think we should just invade a country and then sell it for cash.

 

[PingSpike]

Originally posted by: gevorg

Originally posted by: JS80

Originally posted by: gevorg

I wouldn't call China "cheap asses" since as investors its quite reasonable for them to cash out from failing investments. Our investment banks do exactly the same to China whenever there is something they don't like.

Chinese culture is to be as cheap as possible and hoard gold coins in their safe. See, normally this is how trade works - I make X widget you make Y widget and we trade. Sometimes we can't time our production precisely so we issue IOUs. China is just collecting IOUs forever without ever cashing it in. So in the end you just die with a bunch of devalued paper.

If China wants to be economically successful, they need to balance the trade.

You're more likely to be successful by collecting IOUs then spreading them around so much that you can't to pay them back anymore.

Not if you own the IOU printing press and have plenty of blank paper available!

 

[PingSpike]

Originally posted by: txrandom
We could just not pay it. What do you think China is going to do?

Send our children lead painted toys and tainted baby formula?

 

[Fern]

What assets can the US sell to cover its 10T deficit?

The US to sell assets to cover it's debt?

That's dumb IMO. Why sell stuff when you can just print money?

Why should the US gov care much about inflation? They are a debtor, so they'd be paying back China (when their bonds/notes mature) with 'cheaper' dollars.

You don't sell assets when you can just print money.

Fern

 

[fornax]

Originally posted by: RabidMongoose
But Canada is full of Canadians so that reduces the total value to about 53 cents.

:shocked:

 

[chess9]

The USA doesn't need to pay its debts. Who said they do? We'll bitch slap any country that objects to not getting paid! Where's Don Corleone when we need him?

Most countries just default, then the World Bank covers part of it, the InterDevelopment Bank pays part of it, and the country owed the money forgives most of it. We've been doing that for third world countries for 60 years. It's OUR TURN!!



-Robert

 

[compuwiz1]

Sell California and Arizona to Mexico.

 

[Jhhnn]

We don't have to sell anything. We do need to raise taxes, at least at the top, and trim spending, particularly on the military... while reducing our overall dependency on imports and the balance of payments deficit along with that...

Not what Righties want to hear, I'm sure, but Righties haven't been interested in the truth for a very, very long time...

The so-called prosperity of the Bush era was an illusion, built on cheap money, easy credit, absurd real estate valuations, and federal deficits...

Haven't figured that out? Don't believe it? The slow motion trainwreck of economic reality currently unfolding will make believers out of a lot of people, bet on that...