>debt will jump by 10-15 trillion $ in 2019-2024 >deficit in 2028 will be 2.4 trillion $, interest payments on the debt 1.5 trillion $ or 25% of the federal budget >title related
>this would lead to a permanent downgrading of US standards of living as the economy would have to adjust back to its pre-financial bubble level of $14.5 trillion (a 30% drop from present debt-fueled level). Following these cataclysmic adjustments, the US would lose its economic hegemony and hegemonic military power. This would give a per capita GDP of just above $30 thousand, almost on par with Russia’s present $28 thousand per capita.
Yeah our government spending is absurd. Petro dollar is keeping us propped up. But in the end will a collapse be that bad? Is your life better with newest smart phones and biggest tvs or a meaningful job?
>russia has $28k GDP per capita wait what? the average russian is richer than the average pole by 3 times?
Robert Ward
Those on the bottom will stay where they are.
Only the idiots who tried to win the game will experience losses. Those of us who made minimal effort will be rewarded with a moral victory of Biblical proportions.
Bentley Foster
I know nothing of economics, but realistically what would happen if the U.S. funded it's military up really high, ammunition, oil for moving equipment, and so on, kept their nukes in order, and then told the foreign debtors to go fuck themselves?
David Powell
Why do you think we have bases all over the world? Loool....the only thing they protect is our dollar and our hegemony. Combine that with the 6 orbital USAFSC craft and yea....the future is U.S.
I just hope we can get our shit together to avoid becoming an all out oligarchy.
James Green
Telling foreign countries who hold your debt that they can fuck off means that you arr defaulting on purpose. Your country would experience total isolation for 10-15 years and high inflation.
Same thing has happened in 1920's when SU has declared that it did not recognize old tsarist gov financial obligations as valid.
Lucas Ward
Well, imagine you had a cool house, and then you decided to blow up every part but your own room and if you want to go get milk you have to go through hundreds of pounds of debris.
Better hope you have a nice fridge.
Jaxson Martin
hmmmmm
Oliver Russell
probably just did the research on moscow or sankt petersburg, where the rich live
Angel Bailey
The US has enough natural resources and arable land to do this.
Ryan Lewis
>I just hope we can get our shit together to avoid becoming an all out oligarchy. a few decades late
Easton Nguyen
This is the plan.
Elijah Ross
A US autarky would never work. We no longer have the manufacturing base
Joseph Morales
Its adjusted by prices. This is if russian gdp was made in us prices
Hunter Young
>Next recession will collapse US gdp per capita by 30%, will have quality of life of todays Russia Unlikely. Russia is shithole-tier poor
Most US debt is owned by burgers themselves
Anthony Rogers
Soviet Union went from semi-feudal peasant shithole to industrial behemoth within two decades.
You still have the biggest industrial sector in the West. It's a matter of upping the scale not starting from nothing.
