Why do people keep quoting future unfunded liabilities as debt? Why don't we just count the next 100 years of unfunded liabilities and say the debt is 10 quadrillion?
................................ On the mark.....as this was discussed as global "cooperation" when the process began.... The real tax payers.....SAVERS..... One can only get money....where money really is.... How about STEALING ....????? SAVERS ARE BEING TAXED 100%....NO INTEREST....AND FORCED TO BUY OTHER ASSETS AT THEIR PEAKS..... THIS IS STEALING FROM THOSE WHO HAVE IT.... BY GOVT. MANDATE..... And just for fun....read the wiki bios of the Polys.....and which among them is not a socialist....and which among them has ever been employed by a capitalist firm ....what % of them ???? If over 90% of them are one way.... Guess which WAY it goes ???? And who was it that REALLY paid their way ????
1. Yes, to a degree. 2. The most egregious offenders (Fed being one of them) will still suffer the same inflation and currency debasement, though not as fast as we would have had we been the only fraudsters. What if all the central banks printed money until their "money in circulation" had swelled to 10x the current amount? The currencies' relative valuation to each other would mostly stay about the same, but inflation would be raging and the buying power of citizens would be devastated... unless, of course, their wealth also increased by a factor of 10x, after taxes. Nearly impossible. <1% of the citizenry will be able to maintain the buying power of their present wealth against such an onslaught.
At this point.... Only REVOLUTION will change the current path... (Downsizing govt. and tax restructuring) And the likelihood of this is ???? One wonders.... What would it take ????
Slim, I think. Anything small will simply be either dismissed like the Teabaggers, or put down with modest force. Only when 50-100 million are willing to march on Washington will there be change... other than the one which will be foisted upon us by our financial system collapse, of course. But that won't be the right kind of change... just different tyrannical rules from the same crop of political thugs. How long will it be before 100 million Americans "get it"? Considering that most of us have our view of the country and the world molded by leftist media....
I often wonder, if like other previous empires, the US will be forced to downsize much like England. We will pull troops for all international waters and be a smaller quieter version of ourselves. Irrelevant never, but less mighty yes. Japan and China buy less debt so we have forced liquidation and savings, much like the American consumer has seen in the last year. BTW I appreciate the thoughful feedback on my question.
Seems like it's inevitably in the cards. Too bad our government couldn't have some foresight and start scaling back years ago. Had they done so, we might have held our own, more or less, for another 50 years or so.... and perhaps found ways to better cope with the realities of the Emerging Markets labor force. Unfortunately, we're likely to keep our "pedal to the metal" until we suffer a debt collapse. THEN when what's left of us rises from the ashes, we'll be "properly downsized".
China and India do not have future unfunded liabilities. Why only USA has future unfunded liabilities. Now China and India are prospering and getting rich.
.......................................... http://globaleconomicanalysis.blogspot.com/2009/12/crushing-burden-of-debt.html 557% GDP...not including UFLs.... Debt is not servicable....