We’re almost done with this part. But there’s one more thing, my friends. If you can’t sell all of our shit in exchange for its aggregate book value – which you can’t, because you can only sell it for $21.7T, max – what does that mean? Yes, yes: it means we’re insolvent.
Ok a hole in your statement is that you're assuming it has to be paid all at once. Yes, our debt is impossible to pay off with our money supply but others will point out it doesn't have to be paid back all at once. Also, an estimated 60% of all our debt is owned by US public.
Actually it is more than that, here is a bit more updated but not very specific chart
https://www.thebalancemoney.com/who-owns-the-u-s-national-debt-3306124
What do you think the public would do if those $ were paid back to them? They'd go and spend it, where it has a chance to circulate back into the government to pay down more of the debt again. Of course this paying back the debt won't happen but I'm playing devils advocate here. It is actually possible if our government wasn't complete trash.
How Much is The Entire United States of America Worth?
We’re almost done with this part. But there’s one more thing, my friends. If you can’t sell all of our shit in exchange for its aggregate book value – which you can’t, because you can only sell it for $21.7T, max – what does that mean? Yes, yes: it means we’re insolvent.
Ok a hole in your statement is that you're assuming it has to be paid all at once. Yes, our debt is impossible to pay off with our money supply but others will point out it doesn't have to be paid back all at once. Also, an estimated 60% of all our debt is owned by US public.
Actually it is more than that, here is a bit more updated but not very specific chart
https://www.thebalancemoney.com/who-owns-the-u-s-national-debt-3306124
What do you think they would do if those $ were paid back to them? They'd go and spend it, where it has a chance to circulate back into the government to pay down more of the debt again. Of course this won't happen but I'm playing devils advocate here.
How Much is The Entire United States of America Worth?
We’re almost done with this part. But there’s one more thing, my friends. If you can’t sell all of our shit in exchange for its aggregate book value – which you can’t, because you can only sell it for $21.7T, max – what does that mean? Yes, yes: it means we’re insolvent.
Ok a hole in your statement is that you're assuming it has to be paid all at once. Yes, our debt is impossible to pay off with our money supply but others will point out it doesn't have to be paid back all at once. Also, an estimated 60% of all our debt is owned by US public.
What do you think they would do if those $ were paid back to them? They'd go and spend it, where it has a chance to circulate back into the government to pay down more of the debt again. Of course this won't happen but I'm playing devils advocate here.
How Much is The Entire United States of America Worth?
We’re almost done with this part. But there’s one more thing, my friends. If you can’t sell all of our shit in exchange for its aggregate book value – which you can’t, because you can only sell it for $21.7T, max – what does that mean? Yes, yes: it means we’re insolvent.
Ok a hole in your statement is that you're assuming it has to be paid all at once. Yes, our debt is impossible to pay off with our money supply but others will point out it doesn't have to be paid back all at once. Also, 60% of all our debt is owned by US Citizens. What do you think they would do if those $ were paid back to them? They'd go and spend it, where it has a chance to circulate back into the government to pay down more of the debt again. Of course this won't happen but I'm playing devils advocate here.
How Much is The Entire United States of America Worth?
We’re almost done with this part. But there’s one more thing, my friends. If you can’t sell all of our shit in exchange for its aggregate book value – which you can’t, because you can only sell it for $21.7T, max – what does that mean? Yes, yes: it means we’re insolvent.
Ok a hole in your statement is that you're assuming it has to be paid all at once. Yes, our debt is impossible to pay off with our money supply but others will point out it doesn't have to be paid back all at once. Also, 60% of all our debt is owned by US Citizens. What do you think they would do if those $ were paid back to them? They'd go and spend it, where it has a chance to circulate back into the government to pay down more of the debt again.