Journal zogger's Journal: How much debt is sustainable? 11
The study, The Forgotten History of Domestic Debt, PDF
This discussion has been archived.
No new comments can be posted.
How much debt is sustainable?
There is no royal road to geometry. -- Euclid
No substantial improvement (Score:1)
dis- improvement (Score:1)
I wasn't so much thinking of improvement, but more of runaway collapse at some certain debt to income ratio, where it becomes a feedback loop of higher taxes leading to more unemployment leading to higher taxes to....
Even the 90% figure is too optimistic (Score:2)
When the study points to the 90% of GDP figure, it's accurate, but it fails to note that there was a run-up well before it hit that 90% mark, so the real warning bells are below 70%. Anything above that, and either you take action, or you WILL, within a decade or so, hit that 90% because of the wonders of inertia when it comes to "doing something" and "frog in a warming bucket boils to death".
Unfortunately, it's been past the point of no return for several years. There is only one way out, and that is i
Less than a generation (Score:2, Interesting)
I think it will be awkwardly addressed by the USA breaking up, like the Soviet Union did, with tons of debt just being written off. Ya, inflation will get a run in there, just help speed up the breakup.
There just appears to be, historically, a certain size of allied regions/peoples/languages, whatever, that can be held together in a "strong empire". Too big to fail is too big to exist eventually, whether a bank or some union. I don't think it can be done for any really long historical time frames, *
Re: (Score:2)
Unfortunately, there's going to be a LOT of pressure from the great republic to the south for Canada to concentrate on just exporting resources - including water and energy.
across the water (Score:2, Interesting)
And China. China wants to own you, bad. They would probably love to dump a hundred million people there. Just as a starter. And they are going to do it, too, if you don't turn turtle soon and draw in a lot. They are already doing it nation by nation in Africa. Canada needs advanced robotics factories, robotic factories that build more factories, so you can get real on self defense, get real on using the resources you have to high end manufacture just all sorts of stuff, or you are going to get globalized co
Re: (Score:2)
Funny thing is, we had a proposal here to sell out to the US for something like a million bucks a family a couple of decades ago - people weren't interested, because some things are more important than money.
Never heard of that! (Score:1)
Would you have any link or reference or something I can start with for searching on that subject? For some reason I totally missed that, way back when it happened. I mean I have zero recollection of that at all, and would like to read up on it a little.
Re: (Score:2)
It wasn't an official proposal ... someone did the math and figured out we could sell out to the US at a million bux a family and i would be worth it to the US (it would have been - we're bigger, after all, and with global warming, it looks like we're going to be THE place to be). They did some political lobbying, started a political party, lobbied (with a certain amount of success) for people to have Canada go into a currency and economic union with the US LONG before NAFTA.
There were two major sticklin
The Solution... (Score:2)
As usual, The Onion has a good take on the situation.
http://www.theonion.com/content/news/u_s_economy_grinds_to_halt_as [theonion.com]
Heh (Score:1)
Tangibles rule
Representations of stuff, promises of stuff, or the real stuff.