They'll be clever and only screw over people under a certain age, just watch. They'll have enough 'got mine' voters that the outrage won't mean anything or most likely people won't notice until they are in the shit then complain.
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Trump's pick for director of OMB is Mick Mulvaney, who wants to default on the debt
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They'll be clever and only screw over people under a certain age, just watch. They'll have enough 'got mine' voters that the outrage won't mean anything or most likely people won't notice until they are in the shit then complain.
Electric Eye
Banned
I stopped reading at "John Birch Society", holy crap we are fucked.
Of course. 45-55 will be the cutoff so that young people have enough time to invest in other options. That ensures people boomers will vote for it, and Millenials are too young to realize what's going on.
Angelus Errare
Banned
Boy we about to be third world officially!
I was in the ration line first my dude.
StrategyFan
Member
apparently it's not enough to declare fake bankruptcies for personal businesses and offload more expense to taxpayers
he has to go out of his way to screw over their investments as well
RPGCrazied
Member
Jesus. His entire cabinet save a couple people is old rich white guys.
People thought Trump was going to fight for the middle class? LOL.
Good luck.
People thought Trump was going to fight for the middle class? LOL.
Good luck.
RPGCrazied
Member
Or 3, he gets impeached and we are kinda saved?
Mattlikewhoa
Member
Fenderputty
Banned
The upcoming debt ceiling show down is going to be glorious
Treasury bonds are sold on the open market. Anybody can buy them.
Doesn't the constitution forbid defaulting on debt anyway? 14th Amendment, section 4:
"The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any state shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void."
"The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any state shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void."
Doesn't Pence become president then? Cause that's almost worse.
I feel like we keep saying this and yet it keeps happening.
DontBeThatGuy
Member
No worries, it will trickle back down 15 years from now. It's gonna be fantastic.
I've come to agree. It'll be an economic disaster, or the GOP will be so inept and full of in-fighting that they fumble around and waste 2 years.
I'm expecting the disaster, though.
Maximus.
Member
Trump is 70 years old and rich. He doesn't have much time left on the world and doesn't give a fuck.
It's too bad that australian fellow is no longer around to verbally fellate Brownback.
Also, we're about due for another recession, so at least when Trump exacerbates it he won't win re-election.
Still has great restaurants 😪
efyu_lemonardo
May I have a cookie?
I'd long suspected I'd live to see the downfall of the united states, but in my wildest nightmares didn't believe it could happen within the decade..
Angelus Errare
Banned
I got fresh rat burgers on deck!
Fenderputty
Banned
Depends on how well a future collapse of the American dollar can be sold as Obamas economey
The best case scenario is that Trump and all his cronies fuck off with hookers and cocaine for his entire term. Then actual decent, competent people run the country in his place. Trump will get all the credit for doing a "good job", but at least the country is intact.
The worst case scenario will probably make the 2007 financial crisis look like child's play.
Somewhere in the middle is Trump getting quickly impeached, the GOP taking over with someone less insane, and replacing the current cabinet of rich CEOs.
I think that's the funny thing, you have an administration who has harsh rhetoric towards China, who picks a guy to direct OMB, who favors a cryptocurrency in which the mining, transaction verification, and profits extracted there are nearly entirely controlled by people in China.
StrategyFan
Member
Karsticles
Member
Wouldn't this mean that defaulting on our debt would erase Social Security?
Two birds
It would also collapse most banks. In Greece it was mostly domestic businesses that suffered from the debt cut.
Ryzaki009
Member
Oh good. Silver lining then.
Beer Monkey
Member
BRB buying volatility ETFs.
j/k
j/k
for now
Hmmm, I'm theoretically for massive hyperinflation, if I can pay off all my debt, but how do you go about getting a bunch of hyper inflated currency?
I have a salary, so fat chance at my company suddenly increasing that.
Presumably you would need liquid assets like gold and paid off property to sell, which I really don't have other than electronics and furniture.
Lord Frieza
Member
I don't think you guys are really processing who is running the government now.
Yeah, pretty much where I'm at about it. Definitely feels like it's an end point for America, at least in spirit.
NotTheGuyYouKill
Member
What if Trump gets impeached and his cabinet gets tossed out before they are able to completely slash and burn the US economy?
-Plasma Reus-
Service guarantees member status
Wow.
Good luck guys, things are about to get really rough.
Good luck guys, things are about to get really rough.
Lord Frieza
Member
If it happens, Pence would be President, and I don't know if he'd even bother with a new cabinet or not. Maybe a few replacements here and there, but Pence overall isn't all that much better than Trump from a domestic standpoint. The course is set now, it's done.
Angelus Errare
Banned
Pretty easily.
Nah, they'll take all the money. Trump is a free pass. All he has to do is tweet something about how the minorities took it all, his diehards will echo it, CNN will breathlessly report it, and nobody with any sway will question it.
In a goddamn second
WeAreStarStuff
Member
Well I guess if the world economy burns down I will no longer need to concern myself with paying my mortgage.
A Fish Aficionado
I am going to make it through this year if it kills me
Good thing the fed is semi-autonmous.
Goro Majima
Kitty Genovese Member
Well it's difficult to say when you'd start getting paid 10x as much or more.
There has been lots of instances of currencies hitting hyperinflation but I'm not sure if we've seen a scenario where a world reserve currency like the USD goes through it.
I'm not an economist or anything but I think other situations were something like "okay now everyone is getting paid in a new US Dollar where 1 new dollar equals 100 old dollars". It might be as simple as that.
Not really relevant to defaulting on the national debt
Lightning Count
Member
Another one for the FBI watchlist.
I get that a Trump presidency is terrifying, but this is not the answer.
Fenderputty
Banned
With hyperinflation your mortgage will be paid off in seconds!
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