Originally posted by: Darwin333
Originally posted by: TruePaige
Originally posted by: Patranus
Originally posted by: Elias824
I dont think this is going to happen in our time, there isnt anything that special going on, people have pretty much hated every president this country has ever had. I can see us loosing our super power status but simply collapsing dosent happen like it used to. This isnt Rome, and the huns are not invading.
What happens when China recalls their debt and there is no money to pay them back?
Give up Alaska for resources as repayment?
In what world does China demand money "or else"?
Nothing would happen if they tried that.
What happens when they stop loaning us money along with the Japanese? We only need to borrow a few trillion a year just to roll over current debt that is almost all short term debt (at historical low interest rates, GENIUS!!!) and that doesn't include ANY new borrowing. I know we are AMERICAN FUCK YEAH and all, but do you really think we can continue to borrow 4 trillion a year for the next 3 or 4 years while maintaining the rock bottom bond rates?
We need to borrow something like 7.5% of the WORLD GDP a year in order to roll over existing debt and fund new borrowing. Is that, in your opinion, sustainable?
One final question, if debt rises exponentially faster than GDP for decades what do you suppose will be the eventual outcome?