when a country has an absurd amount of debt, what is the best course of action?
>>1241218
Paying denbts
Ignore it until it goes away.
>>1241218
Continually grow your economy so that the amount of the debt means less.
>>1241218
have a functioning, decent economy.
don't rely on a single source of revenue like natural resource extraction.
>>1241218
The answer varies according to what kind of debt you are referring.
>>1241229
should you cut spending? t. paul krugman
create a huge domestic investment fund and use returns to pay debt while stimulating small businesses
>>1241218
Own everything.
Build an army which could destroy the entire world if someone tried to pull something funny
Start running surpluses, (or at least surpluses sans debt interest) then default.
This would be a bad idea in the US' case because its debt isn't actually that severe.
monetize the debt and watch your country go down the shitter
the debt isn't the problem. it's the spending that creates the debt
>>1241320
but facebook memes tell me that we're literally owned by the chinese
>>1241218
Destroy the country they're indebted to. Nuke China and that's 16 trillion dollars of debt we won't have to worry about.
>>1241355
Except almost all that debt is in the hands of Americans.
>>1241280
This
No one will collect on the debt because in the end, debt is an abstract thing while a bayonet in your asshole is a concrete thing.
>>1241244
The 'debt' we're in is a completely meaningless number. We could wipe it out instantly if we wanted to.
>>1241218
Taking the old system down and starting a new world order. Large-scale wars are usually the preferred choice of action.
>>1241381
nice meme
>>1241331
interestingly enough, the chinese own only 6 percent, about the same as japan
>>1241218
Dead men can't collect debt, but then again no one would lend knowing they might die because of owning debt.
The thing is if you're sneaky or powerful enough debt doesn't exist. Debt is only binding for those society wants to control.
Big countries like the U.S could probably just shirk their debt and shrug it off, because there's nothing anybody can do about it.
To do that without receiving penalties from the global credit market the US would have to wait for some kind of crisis like a major war or global economic meltdown.
The goal when you have an unpayable amount of debt it not to pay it off, but to delay paying it until you are dead.
>>1241365
>>1241280
That's a terrible idea
>hey can we borrow you 1 million
>sure why not
>ha ha ha ha we just decided to not pay you anything back, and if you don't like it I'm nuking your shit
>okay
>btw we really need more money can we borrow you 2 billions pls
>no
Bankers only ever lend money when they know they can actually get it back
>>1241977
>Bankers only ever lend money when they know they can actually get it back
They've loaned money plenty of times they know they wouldn't get back or the only loan they would give out is guaranteed set too high so they loaner was bound to fail.
>>1241218
War
>>1241218
To elect a man with funny hair.
>>1241360
Exactly.
>:^)
>>1241355
Most of those debts are from muricans
>>1242625
Why is Oil Exporters in quotes?
>>1242625
Mostly the education system here that spikes the general population portion. Schools are horribly funded; in illinois they took away teachers social security and their legal reason was that teachers already have a pension and don't need social security but it was a set up to lower the amount they owe schools.
I still believe the best way a country can develop is by doubling down on its education program.
>>1241365
>No one will collect on the debt
Actually the U.S. government has always paid its debts in full and on time. If it didn't, nobody would lend to it, and then we'd really be in trouble.
As a matter of fact, I own a fair amount of U.S. debt myself. (That's what a government bond is.)
>>1242742
>in full
Wrong they simply postpone the full debt by paying off the interest. Not sure about your credit card company but on my bill I have the option to pay a minimum of just the interest. It's common practice for bankers to extend the interest payments as long as they can.
>>1242754
No, you can redeem a government bond in full any time after it matures.
>>1242761
I won't argue against government bonds not being payed in full but paying off only the annual interest from foreign loans just postpones the date.
>>1242739
why? more idiots, less smart people. less smart people, jews will have no competition to worry about.
>>1241218
Print money
>>1242089
>Debt at the number it's at doesn't matter when you look at how powerful our economy is.
You're simply wrong.
>Wages have had a good year
Compared to the last 8 shitty years? Yeah.
>so far and just imagine how fucking powerful it would be at higher rates AND say a good 2% more of the possible workforce in the workforce.
10% inflation would be fun.
>>1243212
t. FED
>>1241218
Depends what you did with the money you borrowed. If it was invested cleverly, your growth should offset your current debt in the future.
>>1241365
>>1241381
What a stupid opinion to have. Not paying your debts has tons of really nasty effects on society and economy. What basically everyone else said (no one in their right mind would lend this country any money for a long ammount of time) is only the tip of the iceberg. Foreign and domestic Investment would drop tremendously because the trust that the US government offers a safe and stable environment would be gone. International relations would suffer and other economies that are more stable and reliable would profit thus creating harder competition.
The US actually has the muscle to pull of this move BUT if the situation becomes so bad that they have to they soon won't have the money to pay for their huge military and their global comitments.
>>1242725
>oil
>exporters
>>1243308
>Japan
>autism exporters
Borrow more to pay debts
>>1242739
I agree. Actual investment in innovation and education while making targeted brain drains against competition would do wonders!
