US Government Debt “Death Spiral”
I have a query, Russell: Is it even POSSIBLE, under any scenario, for us (i.e. U.S.) to pull out of the very real Death Spiral?
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the Mises guys took on the idea with a professor lady … and I think she was on Tom Woods too.
When you compare the current US situation with every other one in history they have to:
either print money to pay the debt
default on the debt
Most countries have defaulted at this point.
But most countries similar to the US have instead inflated it out and such.
Only 2 countries is history have gotten up to 140% debt/gdp and not gone broke (like 62/64) either of these two ways. They are the current Japanese regime and the current US regime. So I would say both of them will soon have to print their currency to pay debts in their currency or default on some of their debts. I would think it will happen soon.
I love how many yahoo finance or similar articles you can find that say “we never have to pay off the debt” and similar. hahaha
Do you still consider yourself a US citizen or something similar … so that you think of the US Gov to be “Us”?
I have been avoiding most Fed taxes since 2000, have opposed this regime since about 2003, consider myself to be a citizen of NH maybe … but mostly a citizen of Heaven and just a sojourner in America. I have not paid the money to renounce US citizenship. They have taken away my US Passport, so I consider myself outside of their system.
What do you guys think?
I repudiate the debt like Murray Rothbard said … I didn’t vote for it. I didn’t vote for the people who spent the money. I oppose their spending and try not to fund it. I will not pay for their debt. I will try to avoid taxes and using their money.
We need our own free market money flowing in NH.