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Message Subject The United States is not facing bankruptcy, it is bankrupt.
Poster Handle mrmuffins69
Post Content
What is the definition of 'bankrupt' in the context of the entire economy?

Just curious. It could put the whole argument to rest.
 Quoting: Anonymous Coward 17703725

Ahhh but there's the rub....they can keep printing money until the USA goes Weimar.

As long as they can still print their way out of it....and the Chinese accept devalued printed money as payment of debt....the system still functions.

...again.....until it goes Weimar....and there will be no warning when that happens.
 Quoting: Burt Gummer

I'm sure that they CAN print more money. Argentina printed more money in the late 80s & throughout the 90s. Greece prints money. Spain prints money. North Korea probably prints money. That doesn't mean none of them are bankrupt. It just means they are procuring money that's not actually legitimate.

Obama can say America isn't bankrupt just like any other person can, and he can also print lots of money, and use fancy terms to avoid the B word, but what is the actual definition of fiscally bankrupt?

Depending on the answer to that, America may actually be in no better a situation than Spain.

So, what defines bankruptcy? I suppose we could check a dictionary..
 Quoting: Anonymous Coward 17210254

Not Obama, Ben Bernanke. He is the only person who can create money out of thin air. All they do is add reserves to the banks with the click of a mouse. Its called quantitative easing and its equivalent to "printing money".

But it is also very different because "printing money" like what was done in zimbabway not to long ago usually leads to inflation, however we have had no inflation problems. The large problem is ganna come when the fed stops buying bonds(our debt) and the interest rates skyrocket
 Quoting: Royy

they announce this shit n no none seems to care, i think they are on qe 4 now... officially
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