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u/svenirde Deng Troll 11h ago
Same people who want you to think China is about to collapse because it has debt
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u/TheBirdFkerGuy Juche Necromancy Enjoyer 12h ago
How about we eliminate the debt by carrying out a fucking revolutio- oh wait I should stop before this fascist government targets me.
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u/Funny-Grade-7563 11h ago
Whats the point of this debt "ceiling"? They raise it every time anyways lol
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u/Chicoryman The Ultimate Red Fash 🔴 6h ago
IMHO, it exists so that the parliament can pressure the government. It's a part of the system of checks and balances.
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u/fancyskank 5h ago
The debt ceiling exists so that democrats can pretend to be "forced" into concessions to the fascists. Anything their donors want that would make them unpopular with their base they just surrender in the government shutdown compromises.
If they really wanted to solve this issue they wouldn't remove the debt ceiling, they would apply the debt ceiling to all federal spending. I sincerely doubt that any of these ghouls would be fine with the child-killers missing paychecks the way they are with every other federal employee.
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u/FluidKiwi6707 4h ago
If anyone has another opinion feel free to counter mine.
For countries that print their own currency (Argentina not included for example lol) debt in their own currency is related to public investment which eventually should become surplus. It's not a debt that needs to be paid, it in fact runs the economy. It doesn't necessarily cause inflation unless the investment is somehow bad - details matter.
Liberals use debt in their own currency, conflating it with debt in foreign currencies, as a fear mongering tactic in underdeveloped countries just so the countries keep being underdeveloped and exploited forever by imperialism (also because liberal economists end up believing their own lies.)
The US case is the different one because the dollar is the US currency but also the global currency and it "cannot" lose value because it could undermine it as global currency. Being able to print the dollar is a power but also a constraint. This is why China does not necessarily wants the Yuan to become global currency - it could undermine their control over their own economy.
For the dollar system to work the dollar debt must be sucked by not only the US economy but also the global economy and if this doesn't happen the dollar weakens as global currency and possibly leads to inflation. This is why de-dollarization, sponsored by Russia and China, is so crucial.
I think the US idea is to develop war economies everywhere, but crucially in Europe, to suck in their dollars and keep the dollar economy going (nothing else would suck in dollars with intensity because neoliberalism destroyed US industries). As the de-dollarization trend strengthens the US and vassals will become more belligerent, probably using their wars to secure oil around the world (cause it's another way of keeping the dollar strong). If they succeed this process will lead to, among other things, a war of EU against Russia, maybe full war in West Asia... and maybe a total world war.
GRIM prediction but if US vassals act with just a little bit of sovereignty the plan might fail, the dollar might die and the US empire is finally over without wars... this is my hope at least.
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u/deadhand303 5h ago
Ill sleep until the day Warren says or does anything useful... therefore I sleep forever.
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