How bad is American economy situation?

[whistlingwh0res]

I heard that America was on the bulge of bankruptcy like 2 times last month. I was wondering what the real situation? What would you do if America go bankrupt?

[Honest-Matt]

Every 20 years there's a recession. The last one was regulatory mishaps committed by domestic realestate economies; part of it was however from the initial beginnings of foreign inference that has now started to take fruition. This newest one is the same by means of people taking advantage of how bloated and unregulated the USA and Canada are in order to properly counter foreign economic tampering. The latest threat is not physical wars but economic dominance and a resurgence of imperialism by proxy. North America and Europe is losing right now and it's going to be interesting how we fair in the new layout of world economies.

Canada has been affected by far too many foreign investment through domestic corporations that have crippled the affordability of housing.

The US and Canada are both crippled in supply chains because they allowed foreign business to develop a majority of control for supply that they can reduce or stop at any time to cripple us.

[Anonymous]

America has technically been bankrupt since Andrew Jackson since he was the last president to pay off the national debt.

If you're talking about the raising of the debt ceiling yes the gov't had to come to an agreement to raise the debt ceiling or it in simple terms wouldn't have been able to pay it's bills. Which means federal employees would start getting furloughed and many gov't programs would be in danger of losing thier funding.

But it doesn't mean that the gov't is broke. This always gets blown out of proportion because people can be affected if it's allowed to go on too long. And it's always going to be used as a political football. America economic might is held in it's citizens and businesses. Taxes are just the gov't's legalized theft.

[KetoJames]

It's just a game the lame government always plays. This is why we're in 33 trillion of debt. Biden gave Pakistan millions of dollars of our Covid relief money. This was for gender studies. Nothing spells Covid relief more than giving millions to gender studies.

[FreyaRed]

It's not lack of money but its distribution. Imagine how many billions and trillions make US clans who produce ammunition and war equipment. Average John Doe doesn't see a cent from those gigantic profits, but he has to finance everything with his taxes.

[richardcory]

The US can create more money if it needs to - with the consequence of more inflation. The "debt ceiling" is stupid politics - but dangerous. If we run into the debt ceiling, we default - with really bad economic consequences. Neither side wants that, but both sides play a game of "chicken" pretending they will let it happen if they don't get what they want.

[Malcom_Reynolds]

Countries don't go bankrupt the way people do. It's way more complicated than that. And then on top of that, there are so many countries (like China) whose economy is completely intertwined with the US that if the US truly went bankrupt, it would crash the world economy.

[ZXCwWRQWz]

MMT types will remind everyone that a country that owns its own currency can never default. But what they don't mention so much is the inflation they're causing each time their government spends more than it collects.

[DaBiggestBird]

$50+ for a sweater or t-shirt and $7+ for a soda. I can’t say it’s not bad.

[DaBiggestBird]

Remember the days when you could buy a small side for like, 25 or 50 cents? Of course there was less paper (money) as a whole back then but still, that sounds like a Tip Top deal to me. Not that I consume a lot of it, it was just the best example I could configure.

[DaBiggestBird]

*small soda

[Anonymous]

Its pretty bad for average Americans. The middle class has been dissolving for years. America still has the uber wealthy. When America goes down the whole world will feel it.

[Cb142]

well ask Biden hell everything is better these days to him but yet everything is going to shit

[Anonymous]

Pretty bad but most of the planet are in similar boats

Real money will save the day but the Chinese are big in that territory

[888theGreat]

It is bad. US will be in a depression before long

[Christoff92]

Ain't in the US. But assuming is at its worst

[abc3643]

We are fine.

[slatyb]

It's good for me.