| disolitude said: lol...that was pretty fun. USA is a GDP beast. Its a shame that the national debt is now bigger than the GDP for a whole year. Basically USA and every citizen has to work for a whole year for free to pay it off... Here is a fun fear mongering site - http://www.usdebtclock.org/ But USA is not as bad as some other countries, like Japan or Greece... |
lol, even if you work one year straight for free and sell your last pants you still won't be able to repay the debt simply because US economy is like $5-6 trillion smaller than it supposed to be. In fact, when this financial system was born, it was never supposed to repay the debt, it was supposed to accumulate it endlessly. But sooner or later it will be back to equlibrium. Technically it's not a problem just to print more money, since USD is de facto global currency (gold standard non-existent long time ago), but economy will collapse next day. Though it's exactly what's happening right now, but at far more slower pace. Japan, Greece, Portugal, Spain, Ireland and dozens of other 'troubled' economies are direct or indirect victims of fall in demand in US.
