The $34 trillion mountain of national debt is a “boiling frog” situation for the US economy, JPMorgan warns
by FUSeekMe69
The $34 trillion mountain of national debt is a “boiling frog” situation for the US economy, JPMorgan warns
by FUSeekMe69
5 comments
The parasite class steals, the poor suffer and the world continues to spin.
Oh my God *who cares!*
I’m getting tired of explaining this, but one more time for those in the cheap seats:
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1. We owe most of it to ourselves.
2. What we don’t owe to ourselves could easily be paid off by collecting the $688b/yr in unpaid taxes from the 1%.
3. We could pay that off even fast if we repealed the Bush/Trump tax cuts for the 1%, *even if we let everyone else keep their tax cuts*
4. We could pay it off ***even faster still*** if we took the savings from a Universal Healthcare program and used them to pay off the debt
5. and finally… WE DON’T WANT TO PAY IT OFF. Keeping other nations tied up in our bond market makes the US dollar stronger internationally and lets us buy cheap imports, effectively turning the rest of the world into a low cost factory for American consumers.
The problems in your life aren’t because of national debt. They’re caused by massive hoarding by the 1% who are using their ownership of capital to price gouge you and keep your pay low (or your receipts low if you’re a small business owner).
Find something else to worry about because our national debt ain’t it.
Seriously though, what can Joe or Jane Schmoe do? Worry about something we absolutely cannot control?
The rich will be fine
JP Morgan is among the primary contributors to the 2008 crash and subsequent bailout. Jamie Dimon and the rest of the executives committed fraud and should be in prison.