US debt clock frozen

[Anonymous No.853696]

K long story short, I been listening to "the sky is falling" stories from my dad since I can remember. tbh I become pretty seasoned in discarding all that BS, because literally NOTHING has ever come of any single ONE of those things to get all worried about. Everyone gets all paranoid over nothing. And then the news media comes in and stirs the pot (Kinda like this https://www.youtube.com/watch?v=9U4Ha9HQvMo ). But this time I'm actually curious. My dad says the US debt clock hasn't gone up for 6 months. I looked it up, and I see mixed results. Some places say it was frozen for a certain amount of time, and other say it's still going fine, almost like it never happened. Some one enlighten me please?

I wasn't sure where to put this. I decided here because it has to do with finances.

[Anonymous No.854086]

anyone?

[Anonymous No.854100]

>>854086
the US hasn't loaned money in 6 months? Or the useless clock on some website has literally been frozen for 6 months? Which one

[Anonymous No.854109]

>>854100
the pic was a quick google search just for a pic to post. Apparently the US debt is frozen, as in, the numbers aren't going up any more. I didn't really listen very well lol.

[Anonymous No.854415]

>>853696

[Anonymous No.854418]

>>854086

[Anonymous No.854452]

Who cares? National debt has become a political boogie man because politicians incorrectly think sovereign debt works the same way as personal debt. It doesn't. Nation states that produce and manage their currency don't have a debtor to answer to except themselves. The debt clock is a stupid doomsday political device and it blows my mind when I see seasoned economists fall for this shit. The U.S. borrows from itself. Poorfag nations borrow from others. Our debt is a number in the Feds ledger - it is meaningless because the U.S. Government can never become insolvent. Unless of course congress does something stupid like default - which would be political and financial suicide.

[Anonymous No.854513]

>>854452
Until the service on that debt becomes an unbearable load. Then it goes from peachy keen to nightmare mode in a hurry.

[Anonymous No.854536]

The debt has been frozen @ $18,112,975,000,000 for some time now
if you look at the Daily treasury statement. So for sure they have gone over that limit by now, but they can't admit to anyone the actual balance anymore.

[Anonymous No.854542]

>>854513
>Until the service on that debt becomes an unbearable load

which we're nowhere near of IF such a point even fucking exists, stop falling for dumbshit republicuck narratives the US debt is absofuckinglutely meaningless and always has been

[Anonymous No.854560]

>>854452
>>854542
>credit rating downgraded
Don't w-worry guys... things are still o-okay! I swear!

[Anonymous No.854579]

>>854452
>political boogie man
I've always kinda thought of it like that.

>Nation states that produce and manage their currency
....uhm... Doesn't the federal reserve (private company) make our currency? Or is that besides the point and I'm misunderstanding?

But tbh you're making me think a bit. If the US makes the money.... .....Then we borrowed it from ourselves? lol Or did we just print up a bunch of money and then..... got in a bunch of debt? lol

>>854536
This is what's got me concerned if it's true. Usually when companies start doing odd shit like this they often end up declaring bankruptcy after some. This seems like one of those odd things a company would do before they admit they're tanking.

>>854542
What exactly would the point be? If there's no point, why do they even bother with the debt clock?

[Anonymous No.854595]

>>854579
Don't think of the national debt as a sign that America is desperate to borrow money, see it as a sign that the world wants to invest in us.
I mean treasury bonds were at negative real interest rates for a while, that means countries basically paid us to hold onto their large sums of money for a while.
We're in no trouble

[Anonymous No.854741]

>>854579
>....uhm... Doesn't the federal reserve (private company) make our currency? Or is that besides the point and I'm misunderstanding?

The treasury technically makes currency but the fed "creates" money by lending (a topic to long to discuss on biz). Congress can also spend money into existence - this is the hot topic that the doomsdayers are screaming about. The idea that governments don't need taxes to spend blows their mind. They think the taxpayers are on hook for spending. They aren't. Let me say that again: taxpayers are not obligated to pay national debt. This is the key conceptual point.

[Anonymous No.854743]

>>854560
Downgraded by fucktard rating agencies that treat national debt instruments like local government instruments. Do you understand the difference ? The state of California can go broke. The U.S. Government can create money - states can't . Get it yet? No reason to downgrade because "governments that create their own money can't go broke". Say that over and over till it sinks in.

[Anonymous No.854767]

>>854595
Also keep in mind that most of our debt obligations are owned by the United States government. The small portion that is purchased by foreign governments is done because foreign governments want stable instruments (they diversify for stability). The U.S. doesn't need their money, the old days of national debt leverage by foreign powers isn't played by the big boys.

[Anonymous No.854890]

Everyone ITT is completely ignoring the reason we are in the clear: world reserve currency status. You cannot inflate your currency to shit and maintain reserve status or there is no incentive to hold USD. It's a good thing for us that everyone else is doing the same thing, but the only reason we've retained reserve status so long is because of how obsessed we've been with not piling on debt

[Anonymous No.855019]

>>854890
U.S. inflation is tiny and has been for decades. That is another myth that can destroy in seconds. Stability in currency happens from effective management by strong central banks keeping rates in check. Always has been. That's why the dollar is a popular reserve - it's stable.

[Anonymous No.855228]

>>855019
Do explain how that much money can be created without inflation.

[Anonymous No.855239]

>>855228
Lol it can't. That guy probly thinks unemployment is at 4% too

[Anonymous No.855271]

>>855228
>>855239
It's pretty simple, the qualities theory of money is bullshit and has been been proven bullshit for over 40 years. It's this foundation theory that is causing all the confusion and it's why schools that have broken away from classical economics have excelled. All schools of post Keynesian economics have been laughing it off with -gasp- facts.

[Anonymous No.855273]

>>855271
Fucking iPhone - that's "quantitative theory"

[Anonymous No.855292]

>>855271
Then what are the facts? All you just wrote is that adding trillions of dollars to the money pool does not inflate the money pool, because you said so. Unless GDP rises equal to added government debt, there is no way adding more debt does not inflate currency.

[Anonymous No.855297]

>>855271
What the fuck? The lack of inflation doesn't show that the quantity theory of money is bullshit - it shows that monetary velocity is low.

[Anonymous No.855298]

>>855292
You got this all wrong - im calling your bullshit and stating that you have no facts to support your case.

Where is this inflation that's devastating us? Please site sources that aren't Alex Jones or Peter Schiff or I will laugh in your fave.

[Anonymous No.855301]

>>855297
Still stuck in 1966?

[Anonymous No.855302]

>>855239
>muh shadow stats
Retard

If the economy and money supply both grow at the same rate, will inflation occur?

[Anonymous No.855317]

>>855298
Look at stocks. That is where you will find the inflation

[Anonymous No.855318]

>>855302
No. That was literally his point. The excess debt creates inflation. Can you read?

[Anonymous No.855631]

>>854743
>>854767
>>854741
would a large enough "debt" make "investors/users" of the USD lose interest ?

[Anonymous No.855699]

>>855228
Very easily - by remaining in financial system and not being spent on consumption or investment spending.

[Anonymous No.856042]

>>855699
Then wtf is the point of taking on the debt if the money never even leaves the financial system? You're telling me...
The US government has, in recent years, taken on 10 trillion dollars of debt to create 10 trillion dollars that never left a bank vault. I don't believe you.

[Anonymous No.856117]

>>856042
Government actually spends its money and keeps the inflation up when it does. Monetary policy is less efficient in a liquidity trap, but it did help push at least some of it into real economy.

Money staying in bank accounts and just being shifted around is a problem. Enterprises are risk averse and don't see many opportunities to spend money on. Just look what happened when Facebook made its IPO - investors jumped on it and pumped it up, only for it to drop onto more realistic (lol) prices shortly thereafter.

[Anonymous No.856489]

can someone explain to me in layman's terms why we shouldn't be worried about the debt? please & thanks

[Anonymous No.856516]

>>856489
If you're lucky you'll die before it catches up with the world.

[Anonymous No.856599]

>>856117
>>856117
Yeah that was pretty much my point. The other anon was claiming government debt does not cause inflation, which is bogus unless they're printing money and hiding it under a bed somewhere

[Anonymous No.856621]

>>856489
the good majority of US debt is owed to US citizens, we don't have to pay back shit besides interest. also, USA is by far one of the most, if not the most, stable country on the planet, so we will never have any shortages of investors. all in all, unless our country is literally crumbling into libertarian anarchy, we don't have to give a single shit about the debt because it's money owed to american jew bankers who don't want to be paid back anyway they want interest

[Anonymous No.856661]

>>856621
About 37% is owned by other countries.
Maybe another 5% by rich foreign investors living in the US.

Then 30% is the American banks who want interest.

Then 25% is intergovernmental owed between the treasury and the medicare/social security funds etc.

There's about 5 trillion in Fed bonds (QE) that aren't on the books cuz they aren't exactly real so technically they don't matter.

When the fed rate goes up our debt servicing cost is gonna rise. When the dollar is used less and foreign currencies begin to be used more often (aka we lose dominant reserve status) debt costs will go up.

No matter which way you slice it the government deficits of 1980-1990 and 2003-2014 has long term negative effects on the US and World economy.
It was a keynesian fix, but we are running into a liquidity trap. That's why the fed is trying desperately to force through talk of a rate-rise. (To get banks and companies to spend that money.)

[Anonymous No.856744]

>>855019
>>855271
>>855298

you sound like a shill, basically stating your 'truth' and flat out denying anyone else like it is such a black and white topic

[Anonymous No.856788]

>>856661
Can you explain how raising rates encourages spending? It would seem like higher interest rates would freeze spending while everyone waited for the dust to settle. Am I missing something?

[Anonymous No.856807]

>>856788

if rates are increasing you would rather buy (take on debt) today before rates are higher tomorrow

[Anonymous No.856902]

http://www.usatoday.com/story/news/2015/07/29/obama-jack-lew-treasury-secretary-debt-ceiling-letter/30846503/

[Anonymous No.857135]

>>856902
>nearly leading to an unprecedented default on government obligations
Bullshit. At no point would we have kept paying out foodstamps to miss an interest payment. Is that what liberals actually believe?
>also, those comments
100% conservative