At what stage do you play the Trump Card? - Q.......Trump Card coming - Q.....
(media.greatawakening.win)
LET'S GOOoOo
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The debt ceiling has been raised or suspended numerous times over the years to avoid the worst-case scenario, which would be a default on U.S. government debt.
KEY TAKEAWAYS The debt ceiling is the maximum amount that the U.S. government can borrow by issuing bonds. When the debt ceiling is reached, the Treasury Department must find other ways to pay expenses. Otherwise, there is a risk the U.S. will default on its debt. The debt ceiling has been raised or suspended several times to avoid the risk of default. There have been a number of showdowns over the debt ceiling, some of which have led to government shutdowns. The conflict is usually between the White House and Congress, and the debt ceiling is used as leverage to push budgetary agendas.
How do you think this applies right now?
Economics isn’t my strong suit.
In recent history, the government typically borrows about a trillion dollars a year to stay functional. That's every year. It's like making 35k a year and racking up 10k a year on your credit card, year after year, to the point you now owe 290k. The only way the government functions is when congress approves an increase in the debt limit (how much can we borrow) and the credit card company (fed) raises your limit.
Realistically, it's an unpayable debt, unless the government goes bare bones and not fulfill its promises of social security, medicare, pensions, etc. It's political suicide to cut benefits, so they raise the debt ceiling every time they hit it and that's how we got here.
But going bare bones isn't a long term solution either, cause the dollar is a debt based system, meaning it's borrowed into existence and has to be paid back with interest, which if you look at the big picture, is an impossible thing to do. If all debts are paid, there is no money. This means that the only way society can function is if more debt is created into existence every year. For the past few decades, the national debt has doubled around every 8-10 years, but accelerating.
This sounds very not good.
Thank you for taking the time to explain.
If you have some extra bucks, it wouldn't be a bad idea to start stocking up on things you'll need for the next few years (food, tools, parts, etc.) If you have extra bucks left, most people that have an understanding of this monetary/banking scheme hold precious metals and/or bitcoin. Gold is the safest bet. Silver has the biggest risk adjusted upside. Cryptos is speculation but has performed the best in the past. But past performance isn't indicative of future performance. Little of each isn't a bad idea. Q#2619