Quote:
Originally Posted by link
Why, then, should we fear a debt apocalypse here? Surely, you may think, someone in the debt-apocalypse community has offered a clear explanation. But nobody has.
So the next time you see some serious-looking man in a suit declaring that we’re teetering on the precipice of fiscal doom, don’t be afraid. He and his friends have been wrong about everything so far, and they literally have no idea what they’re talking about.
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This is complete BS.
The folks who predict fiscal doom show exactly what will happen if interest rates rise. And, there is no possibility of this Administration "holding interest rates down" if they cannot borrow money at artificially low rates.
Just how long do you think overseas investors are going to stick with the US to earn 3% on their money? This is the crux of the discussion. The US cannot afford to pay 5% or more on the debt and there are clear indications that it will need to do so in the future.
And, his statement about inflation is total BS. Anybody with half a brain knows the government is lying through their proverbial teeth when they claim "no inflation". All you need to do is go to a supermarket.