Nope. This is mainly Nixon's fault when he fully removed us from the gold standard and Modern Monetary Theory became the prevailing economic system.
But to give Nixon credit, he had no other option.
If anyone tries to break free from MMT, the entire western system and all if its governments will collapse. And nobody wants to be responsible for destroying the West.
If we didn't have a country to launder the increasing infinite amount of deficit spending we do each years the entire West would collapse.
Trump found this out the hard way but he deficit spent on things like Space Force and subsidizing business.
The problem though is MMT, and nothing will improve for us no matter who gets into office.
The reality is that nobody wants to be responsible for the destruction of the West. So nobody does anything to change the MMT based system. Not even Trump
Adjusted for inflation that'd be 2.9 trillion today, which means our commie government has racked us and our kids and their kids with ten times the debt they used to. End the fed, kick DC out of the Union.
"Quantitative easing" was a bit different: Instead of being directly driven by monetizing the government's deficit spending, that was when the Fed expanded its balance sheet (and the money supply) by buying a whole bunch of toxic garbage from big banks for newly minted credit.
Social Security, Medicare, Medicaid, ~750 military bases in > 80 countries, corporate welfare for contractors and kickbacks for politicians, a whole bunch of unnecessary wars, foreign aid, food stamps and other welfare, funding the administrative state, and other unnecessary crap.
Note that the CIA isn't high on the list, because they fund themselves with the drug trade and human trafficking.
Two main things. "War on terror" is around 8 trillion of that and most of the rest is the medical cartel.
In every industry including medical care it is illegal to explicitly create cartels and fix prices; but in the medical industry it is tacitly allowed. In every industry including medical care it is illegal to charge people different prices depending on how they are paying (cash, credit, insurance etc) and not tell people the price until after they have received the service; but in the medical industry it is tacitly allowed. If already existing anti-trust and consumer protection laws that already apply were actually enforced that's the entire deficit gone.
Fix the medicare and medicaid grift and a trillion/year easily gets lopped off federal spending.
The healthcare system is great for treating diseases like cancer, but is really shit at preventing diseases like cancer (because that's not its job). Also, doctors lie to their patients all the time
We all know the answer. Crooked built a factory for her friends in Haiti. Obummer and Michael bought themselves a house on the beach. Creepy Joe bought his son a bottomless supply of coke. Skeletor bought herself an ice cream freezer.
They stole it
The debt is theirs alone.
Not entirely true.
MMT requires infinite increasing deficit spending.
This money goes to all kinds of useless shit but its never meant to actually improve or allow the consumer to flourish.
If the consumer flourishes AND the government infinitely spends money on wars you get hyperinflation.
So you have to choose one of the two. Either continue spending on wars and political agendas or allow the people to flourish.
Trump was the only person to try the "people flourishing" path and they want him dead
It's called welfare.
You can blame Johnson's Great Society legislation for fucking us all.
The Gibs is just one giant vote-buying program
Nope. This is mainly Nixon's fault when he fully removed us from the gold standard and Modern Monetary Theory became the prevailing economic system.
But to give Nixon credit, he had no other option.
If anyone tries to break free from MMT, the entire western system and all if its governments will collapse. And nobody wants to be responsible for destroying the West.
That just the borrowed portion. We actually paid trillions in taxes on top of that.
Israel
Ukraine
Ukraine is one of the largest money laundring operations in history!
If not THE largest.
The corrupt politicians want it to continue because their sponsors are the ACTUAL receivers of all that stolen tax money.
Ukraine is entirely necessary to the MMT system.
If we didn't have a country to launder the increasing infinite amount of deficit spending we do each years the entire West would collapse.
Trump found this out the hard way but he deficit spent on things like Space Force and subsidizing business.
The problem though is MMT, and nothing will improve for us no matter who gets into office.
The reality is that nobody wants to be responsible for the destruction of the West. So nobody does anything to change the MMT based system. Not even Trump
Lol, Ukraine got more in the last year than Israel has in the last 75.
Who owns Ukraine?
https://media.communities.win/post/Vypmj7lSmDT3.jpeg
Adjusted for inflation that'd be 2.9 trillion today, which means our commie government has racked us and our kids and their kids with ten times the debt they used to. End the fed, kick DC out of the Union.
Endless wars.
Endless taxes.
Both.
Modern Monetary Theory requires infinitely increasing deficit spending so our leaders have to get creative on what they deficit spend on.
Trump started Space Force and subsidized business. Those are good things, but what happens when they are fully funded?
He'd have to find something else to deficit spend on.
The reality is that no matter who gets into office nothing will change if we remain on the MMT system.
But if we deviate, the entire system implodes. So.... We're fucked.
Kensyian Economics is a proven loser...
This is the correct answer/question.
33 trillion dollars doesn't exist.
Nobody has 33 trillion to just lend out to an insolvent nation.
Not all at once, no. The US government borrowed the same money over and over.
Sorta. It's called "Quantitative Easing"
The money simply does not exist
Oh good, then we don't have to pay interest on it annually anymore!
"Quantitative easing" was a bit different: Instead of being directly driven by monetizing the government's deficit spending, that was when the Fed expanded its balance sheet (and the money supply) by buying a whole bunch of toxic garbage from big banks for newly minted credit.
Quantitative "the amount" Easing "fudging"
"The Fed" is a story tale, like shangri-la or Star Wars, it's not a real thing
The stimmies did cost a lot.
Yeah but times 300 million or whatever. Plus a trillion of fraud.
Cocaine and hookers?
10% for the big guy.
Welfare for N
US population 1960: 179 million.
US population 2023: 334 million.
We've almost doubled our population with migrant browns.
I like to cherry pick stats to show the decline. Population, obesitiy, debt, China trade imbalance.
The right formula of things collapsing = collapse of America. Just a matter of time.
Social Security, Medicare, Medicaid, ~750 military bases in > 80 countries, corporate welfare for contractors and kickbacks for politicians, a whole bunch of unnecessary wars, foreign aid, food stamps and other welfare, funding the administrative state, and other unnecessary crap.
Note that the CIA isn't high on the list, because they fund themselves with the drug trade and human trafficking.
Fully funding illegals since 1976.
child trafficking and secret shit in antarctica
Paid themselves, and their buddies off, blew shit up overseas, fed welfare cases.
OK I know we're familiar with the concept of interest....
This is the hard question I'd love to ask people but most people will give a retarded answer and there is no point in talking to a brainwashed person.
But yeah, people will be shocked to know how shit will collapse eventually due to people being too dumb to fix it.
Two main things. "War on terror" is around 8 trillion of that and most of the rest is the medical cartel.
In every industry including medical care it is illegal to explicitly create cartels and fix prices; but in the medical industry it is tacitly allowed. In every industry including medical care it is illegal to charge people different prices depending on how they are paying (cash, credit, insurance etc) and not tell people the price until after they have received the service; but in the medical industry it is tacitly allowed. If already existing anti-trust and consumer protection laws that already apply were actually enforced that's the entire deficit gone.
Fix the medicare and medicaid grift and a trillion/year easily gets lopped off federal spending.
Healthcare is better, particularly things like cancer treatment. But the rest no.
The healthcare system is great for treating diseases like cancer, but is really shit at preventing diseases like cancer (because that's not its job). Also, doctors lie to their patients all the time
I'm not saying that healthcare is exemplary, just that it is better than in 1960.
Cancer isn't a disease.
Are you a CIA shill?
Cancer doesn't have treatments.
That is just the debt. They have also been spending $4 TRILLION every year for over a decade ON TOP OF THIS DEBT!!!
Here in Albuquerque they just repaved i40....
And that nice, new pavement just fell apart due to a sinkhole. 🙄
We all know the answer. Crooked built a factory for her friends in Haiti. Obummer and Michael bought themselves a house on the beach. Creepy Joe bought his son a bottomless supply of coke. Skeletor bought herself an ice cream freezer.
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