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02-13-2019, 07:20 AM
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#1
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Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
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National Debt
The national has hit 22 trillion. Ouch. The next recession could be a doozy. Any worries.
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02-13-2019, 07:36 AM
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#2
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Thinks s/he gets paid by the post
Join Date: Apr 2011
Location: Madison
Posts: 1,337
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I try not to worry about things I can't control.
__________________
Wild Bill shoulda taken more out of his IRA when he could have. . . .
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02-13-2019, 07:39 AM
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#3
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2018
Location: Tampa
Posts: 11,226
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Will be interesting along with any interest rate rise.
__________________
TGIM
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02-13-2019, 07:41 AM
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#4
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Thinks s/he gets paid by the post
Join Date: Mar 2015
Location: philly
Posts: 1,219
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2 college kids and 1 "fighting adulthood" millenial at home. I worry more about whether or not I'll have to bury a body and come up with an alibi.
__________________
My darling girl, when are you going to realize that being "normal" is not necessarily a virtue? it sometimes rather denotes a lack of courage~Aunt Francis
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02-13-2019, 07:46 AM
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#5
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Thinks s/he gets paid by the post
Join Date: Mar 2008
Location: Atlanta Suburb
Posts: 1,499
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I guess it helps that the Feds have a printing press. They can eliminate some of the debt through inflation (a tax on all). But, there has to be a tipping point. I don't know if anyone knows where that point is.
__________________
"Oh, twice as much ain't twice as good
And can't sustain like one half could
It's wanting more that's gonna send me to my knees" - John Mayer
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02-13-2019, 08:03 AM
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#6
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Thinks s/he gets paid by the post
Join Date: Mar 2014
Location: Apex and Bradenton
Posts: 1,790
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Quote:
Originally Posted by ripper1
The national has hit 22 trillion. Ouch. The next recession could be a doozy. Any worries.
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https://www.cnsnews.com/news/article...hits-trump-era
To summarize the key point in this Jan. 4, 2019 article.
Quote:
When Trump became president in January 2017, 152,076,000 Americans were employed. Last month, that number grew to a record 156,945,000, a gain of 4,869,000 in two years.
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So, 22,000,000,000,000 / 156,945,000 = $140,176 / employed person
https://www.populationpyramid.net/un...-america/2018/
This article says there were 328,835,763 citizens in 2018.
So, $66,903 / citizen.
Either way you cut it, HOLY MOLY!
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02-13-2019, 08:04 AM
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#7
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Gone but not forgotten
Join Date: Jul 2012
Location: Peru
Posts: 6,335
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If you feel courageous dig a little into the results of a Google of:
"China and United States Debt"
Be prepared for a few hours of reading to "get" the relationship. (go to the investment related websites. )
Hint... "It ain't gonna be easy".
__________________
If you want others to be happy, practice compassion. If you want to be happy, practice compassion.
--Dalai Lama XIV
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02-13-2019, 08:26 AM
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#8
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Thinks s/he gets paid by the post
Join Date: Mar 2010
Location: Chicago
Posts: 1,154
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I think the last serious discussion about the national debt here was on 11/04/2007. Started by LeatherneckPA and 31 posts. Most seemed to blow it off and then we all know what happened in December of that year.... Just saying......seems pretty eerie.
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02-13-2019, 08:35 AM
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#9
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Thinks s/he gets paid by the post
Join Date: Oct 2006
Posts: 4,629
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I think this is a serious problem. At some point, the US prints money.
The issue isn't that our current debt is "too high", it's that we're adding $1 trillion per year during an economic boom.
But, having said that, I don't have a good way for retired people to protect themselves.
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02-13-2019, 08:50 AM
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#10
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Aug 2011
Location: West of the Mississippi
Posts: 17,169
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Hush! Quiet!
Pay no attention to the man behind the curtain.
__________________
Comparison is the thief of joy
The worst decisions are usually made in times of anger and impatience.
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02-13-2019, 08:56 AM
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#11
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Thinks s/he gets paid by the post
Join Date: Mar 2015
Location: philly
Posts: 1,219
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Quote:
Originally Posted by Chuckanut
Hush! Quiet!
Pay no attention to the man behind the curtain.
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I don't think it's a matter of not paying attention. more of a question of worrying. In reality there is very little I can do about the national debt outside of voting.
As @dtbach said, I try hard not to stress over the things I have absolutely no control over.
__________________
My darling girl, when are you going to realize that being "normal" is not necessarily a virtue? it sometimes rather denotes a lack of courage~Aunt Francis
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02-13-2019, 09:03 AM
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#12
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Nov 2009
Posts: 6,681
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When I think about the "day of reckoning," I think about what happened to New York City back in the mid-1970s when the banks closed their windows and refused to lend the city any more money until the city cleaned up its act and got its fiscal house in order. That began several years of tough times for New York City and forced its leaders to enact some tough measures, breaking with their normal ways of doing things. Can that ever happen at the federal level?
__________________
Retired in late 2008 at age 45. Cashed in company stock, bought a lot of shares in a big bond fund and am living nicely off its dividends. IRA, SS, and a pension await me at age 60 and later. No kids, no debts.
"I want my money working for me instead of me working for my money!"
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02-13-2019, 10:23 AM
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#13
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,003
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Worrying doesn’t accomplish anything. You can vote your opinion. You can assume economic headwinds going forward (such as somewhat lower GDP and higher interest rates/inflation) and adjust your investment plans accordingly.
I’m not interested in playing the survivalist prepper game.
__________________
Retired since summer 1999.
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02-13-2019, 10:32 AM
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#14
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gone traveling
Join Date: Mar 2015
Posts: 3,508
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What does the national debt have to do with the dooziness of the next recession?
Or were you just combining two distinct thoughts into the same paragraph?
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02-13-2019, 10:41 AM
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#15
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Thinks s/he gets paid by the post
Join Date: Jul 2005
Posts: 2,223
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Meh, It's only money
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02-13-2019, 12:45 PM
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#16
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Thinks s/he gets paid by the post
Join Date: Dec 2017
Posts: 2,533
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Quote:
Originally Posted by joeea
What does the national debt have to do with the dooziness of the next recession?
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Ask Greece what happened when they went too far into debt, and their debt/GDP ratio became too high!
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02-13-2019, 12:52 PM
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#17
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Thinks s/he gets paid by the post
Join Date: Sep 2013
Location: Ventura County
Posts: 1,432
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Quote:
Originally Posted by HNL Bill
Ask Greece what happened when they went too far into debt, and their debt/GDP ratio became too high!
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I would imagine they wished they had control of their own currency so that printing their way out of debt was an option - a situation we do not share.
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02-13-2019, 12:53 PM
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#18
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Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Join Date: Jan 2006
Location: Rio Grande Valley
Posts: 38,003
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Quote:
Originally Posted by HNL Bill
Ask Greece what happened when they went too far into debt, and their debt/GDP ratio became too high!
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Do you really see an equivalence?
__________________
Retired since summer 1999.
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02-13-2019, 01:03 PM
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#19
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Full time employment: Posting here.
Join Date: May 2014
Posts: 977
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I see a national sales tax in our future, maybe half-penny on the dollar. It will be a bitter pill initially, but will be transparent to most of us in short order.
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02-13-2019, 01:05 PM
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#20
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Thinks s/he gets paid by the post
Join Date: Dec 2017
Posts: 2,533
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Quote:
Originally Posted by audreyh1
Do you really see an equivalence?
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Not at the moment. Our current ratio is 104% In 2017, Greece was at 178%. With increasing interest rates, and continued government spending that outpaces income, our debt will continue to grow. The collapse point will likely come by the time the ratio hits 200% (my best guess), and we can no longer afford to pay the interest on the debt.
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