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With the state of the US national debt. Do any of you believe that we can reduce the national debt before the collapse of the Dollar?

Mike-ner 4 Mar 22
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Not the trend at this time. The only presidential candidate who wants to make it a priority is the Independent, Howard Schultz. Otherwise, many candidates want to increase spending at historic levels.

Do you think that trump unleashing the energy and manufacturing sectors will help or hurt?

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Every man, woman, and child in America today owes over $66,688 thanks to government spending.

Make no mistake: there will be a reckoning for us, and it will be painful. The longer we ignore it, the worse it will get.

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I too feel that Peter Schiff is on to something. It’s kind of hard to disregard a man who predicted the crash of 08’ and went to congress to warn the government. Especially, with the AIIB, Russia and other nations making unilateral currency exchange deals. Its almost as if the writing is on the wall. I just think they are smart enough to do it slowly anything but would be looked at as an act of economic war the same with china selling us back our debt, they have already started, they’re just doing it slowly. I had a battalion commander who once said that “complacency is the number one killer in war and in life” that has always stuck with me and feel there is a lot of truth to this. So, in any case, live your life but just don’t stick your head in the sand thinking nothing bad may happen. Hope for the best but prepare for the worst.

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I remain hopeful that Pres will abolish the Fed Reserve and THAT would be a new beginning ... actually ending the built-in de-valuing of our currency.

I'd love to see the Fed end. The transition would NOT be an easy one, but well worth it in the end

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Here’s a fun one; pick a year, any year, and google opinion articles from that year saying that the collapse of the dollar is imminent. I’m betting on the dollar doing just fine for quite some time into the future. So yes, I do. This will most likely occur when the Chinese have their state-mandated low birth rates hit them (Wiki the one child policy), and manufacturing shifts both slightly back to the states and more so to other small countries who’s economies are distinctly tied to the dollar. Here’s hoping people don’t mess everything up before then

The service life of fiat currencies , such as the Federal Reserve Note , is about 40 years . It takes that long for all of the stupid people to die off . The currency went off the Gold Standard in 1972 and is running on borrowed time . At this point the debt is so huge that future generations will never get out from under it . The boom is about to go bust .

@Georgesblogforum Gonna disagree. Not for technical reasons, just on the fact that I’ve seen similar things said many times before, and every time there was some trick the economists pulled out that bought them a little more time, and the people making the original claim looked silly. Not saying they aren’t right this time, I’m saying I wouldn’t bet on them in a horse race. The economists in the exact same race have won every time so far.

There's truth to what you are saying and I admire your optimism. There are some things that suggest the next bubble to burst will be the dollar (debt to GDP ratio, low interest rate).

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Put your house in order or it will be put in order for you.

Social Security, Medicare/aid and military are the big three budget items that must be addressed. Any major politician that discusses Social Security or Medicare/aid runs the risk of being sidelined since there is minimal recognition by the citizens that these items must be addressed.

Here's the secret. If the budget is not addressed, these social programs will cease to exist after the failure of the dollar. If you like these programs then you need to reform them so that our system will remain somewhat intact.

I'm starting to lean towards Peter Schiff's perspective on our financial situation. The sooner the collapse the sooner we can correct our course. It will be very painful.

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Before the National Debt could be retired , there would be no currency in circulation ulation . Reducing the debt forces shrinking the economy . That is what it means to be behind on the debt curve . It is impossible to free oneself from a snare , with all the weight hanging by one ankle .

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