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0 pointsceejayoz3y ago0 comments

> In the middle of a world war

We're just getting out of a world pandemic.

> In that case you've defaulted on your mortgage.

No, I'm making the agreed-upon payments, just like the US is on their debt. I can't pay off the whole loan today, there's twenty years left on it. Similarly, the US can't pay off 108% of GDP today, but they can over the decades-long timespan of those debts.

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roenxi3y ago

> We're just getting out of a world pandemic.

The US couldn't pay its debts before COVID either. The pandemic hasn't changed the US's long term prospects for servicing its debt even slightly. The future was default in 2019 and it remains default now in 2022. The only interesting questions are when and what form the default will take.

I mean, are you trying to be serious here? How do you think those debts will be payed down? Who do you think will be involved? What timeline?

What evidence?

> No, I'm making the agreed-upon payments

Oh ok, I thought you meant you weren't making them. Well, assuming you intend to keep that approach up there is no place for you in the halls of government. You are heading for a future where you might pay your debts in full!

ceejayozOP3y ago

> How do you think those debts will be payed down?

The US debt-to-GDP ratio is a bit over 100%.

With my mortgage, mine's higher than that, and I don't have a central bank under my control to tinker with things. No one questions my ability to pay off my thirty year loans; current interest rates on US debt indicate no one seriously believes your assertion that a US default is at all likely, let alone probable.

(Argentina's bond rate is 75.00%, reflecting their history of default and likelihood it'll continue. The US borrows at 2.90% right now.)

When my mortgage is mostly paid down, I'm likely to refinance and take on additional debt, perhaps for home improvements or a newer house. Just like the US does as it makes its debt payments.

roenxi3y ago

You're a lovely bloke. I don't care about your mortgage.

Describe to me, in concrete terms, ideally using the names of the politicians you think might be involved, the voting demographics, the years and values, etc, how you think the US is going to make a start on paying down its debts in real terms.

We all know what is going to happen. They're taking in real resources, they're going to give a lot less back and pretend there is a meaningful difference between not paying off all the debt and defaulting on debt. Which there is not.

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roenxi3y ago

> We're just getting out of a world pandemic.

I mean, are you trying to be serious here? How do you think those debts will be payed down? Who do you think will be involved? What timeline?

What evidence?

> No, I'm making the agreed-upon payments

ceejayozOP3y ago

> How do you think those debts will be payed down?

The US debt-to-GDP ratio is a bit over 100%.

(Argentina's bond rate is 75.00%, reflecting their history of default and likelihood it'll continue. The US borrows at 2.90% right now.)

When my mortgage is mostly paid down, I'm likely to refinance and take on additional debt, perhaps for home improvements or a newer house. Just like the US does as it makes its debt payments.

roenxi3y ago

You're a lovely bloke. I don't care about your mortgage.

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