Greece just essentially went bankrupt when it owed 270 billion dollars. Our debt is 67 times greater than that and no one is talking about us going bankrupt. Why not?
When will America go bankrupt?
What Girls Said 2
maybe it will...0
Not anytime soon. Most of our debt we actually owe ourselves.0
What Guys Said 14
It's all about cash flow. Our economy is much larger than that of Greece, so we have consistent growth that allows us to service a sizable debt. Our GDP allows us to have large deficit spending without putting all of our revenue into that debt. And the other thing is that our inflation rate is kept low by our monetary regulators (i. e. The Fed), which facilitates a stable economy. It's a complicated balancing act with a lot of moving parts that few (if any) fully understand.1
Greece doesn't have its own currency, and therefore cannot monetize its debt and can't borrow in its own currency. (Greece is on the Euro.) The United States does have its own currency and can borrow in that currency and monetize its debt.1
From what I understand Japan has 4 times the debt when accounting for population and possibly GDP. I know the US usually gets more focus and notoriety but Japan is what many economist look at when trying to predict potential future US debt issues.1
The U. S. denominates the dollar around the world, so its debt is manageable.
Also, the state of Greece was way worse. People were retiring at 50, people bribed their way out of taxes, and an absurd number of people were employed in government positions. It's been on the road to ruin for decades longer than the U. S.0
It will have to be careful but I don't think so at the moment0
We owe China about a trillion. We owe Japan about a trillion. At least that's what I heard from trump last night. There are too many secrets, and only the ones in power really know. I don't trust governments. Will we go bankrupt any time soon? No. Someday we will have a one world currency. I have foreseen that.0
We're already in large debt that we have no intention of clearing.1
Very long time from now. The US has another century in it at least if you ask me.
As for the BRICs? I did an entire paper on that, and it doesn't end pretty.0
It's true the US owes China a lot. China has a very good economic plan that involves taking America's debt and keeping it's currency lower than the dollar so it's competitive in exports. Still, the quantity over quality mindset they hold is the problem.0
In a million years dude0
Because america's media outlets have put their focus on ISIS and terrorism.0
maybe when China becomes economy #10
Because the NWO puppet masters don't want people to rise up and revolt.0
Select as Most Helpful Opinion?
You cannot undo this action. The opinion owner is going to be notified and earn 7 XPER points.