if per chance he does eliminate the debt....and what would be left? GOLD in the federal reserve....and and i lost my train of thought no coffee yet....jat
Canada - USA Trade War commencing March 2025 #3
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Trumps calling Carney “Prime Minister” too, rather than mocking him with “Governor” like he did with Trudeau.
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Interestingly, the US owes Japan over $1 trillion, and owes Singapore $249 billion, and China $759 billion - maybe contributing to their debt?
US billionaires really need to start paying their fair share of taxes. imo
Ranked: The Top 20 Countries Holding the Most U.S. Debt
The United States owes foreign investors $8.5 trillion.
www.visualcapitalist.com
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Well I think the US should start paying it's way, just sayin'
Let's not forget, while promoting H-1B visas, Musk said Americans are not smart enough for tech jobs. I wonder if they will also say not smart enough for skilled auto jobs and import workers.
Elon Musk fuels H-1B debate, endorses post calling Americans 'too r********' for skilled jobs | World News - Times of India
US News: Elon Musk, the billionaire CEO of X, SpaceX, and Tesla, has ignited a political storm after endorsing a controversial social media post suggesting Ame.
timesofindia.indiatimes.com
I am no financial expert so forgive me here but I have wondered if it wouldn't benefit the wealthy, especially corporations, for the unwashed masses (me included) to have more spending money so they can buy goods and services, thus elevating industry etc. What help is it to eliminate taxes for the most wealthy?
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For now. That could change quickly when he is told no.
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Where did the ridiculous claim that 90% of Greenlanders wanted to join the US originate? Did Trump Jr make it up on the spot? Reports from Greenland indicate (election results, public reactions to threats) that the opposite is true. Vance would not have been frozen out by the locals if he was welcome. It's important to stop the lie from proliferating. Trump will use it to excuse military action.
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The USA has the 3rd largest population in the world of 340 million people. They are primarily born and raised in the USA. I was stunned that, with such a large population, there were only 2 male senior citizens deemed capable of being president a few years ago. That didn't make sense to anyone.
Regarding education, computer coding is something that children learn in school today. It's similar to learning a foreign language, and no longer something unique and specialized like it was during WW2.
Manufacturing car parts requires engineering technologists and professional engineers. It shouldn't be difficult to ensure that education and career paths are filled without relying on foreign employees. Is there a stigma attached to tradespeople jobs?
Currently, the USA lacks engineers and tradespeople to relocate automotive manufacturing to the USA. I'll say it again - the USA government is doing this backwards. They want vehicles to be manufactured in the USA but they start with the last step of the process - tariffs on foreign made cars. They should start with training engineers, then build vehicle manufacturing plants, produce locally made vehicles, then put tariffs on foreign vehicles. The USA government seems to lack logic. If the first step is tariffs, and the second step is to import foreign workers, the USA is really confused and doesn't appear to know what it's doing.
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Carney was the Governor of the Bank of Canada and the Governor of the Bank of England. If Trump calls Carney a governor, it means that Trump is senile and does not realize that Carney has changed jobs.
Yes, that is a dominant attitude, that unless every citizen is absorbed in every fresh headline, they are complacent, somehow siding with the baddies, and giving them permission to do what they are doing.
As though T2 is a sabre-tooth tiger lurking around your house, and your disapproval is a weapon that will scare him away...
Trump doesn't care, it doesn't hurt him if people disapprove. In fact, he's deliberately using the military strategy of 'shock and awe' to frighten people. He knows that making people fear you, is the true source of power.
So why give him what he wants, and spoil your own day at the same time? It's that old saying about gripping a hot coal in the hope that you might have a chance to throw it at him.
I think people should be encouraged to re-think their reaction to current affairs, when they realize it is affecting their mental health. It's not like they're going to forget to vote...
JMO
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Current affairs impact some people's day-to-day lives. Federal employees are fired. Social security beneficiaries are concerned about their benefits. People receiving cancer treatment are losing their doctors and/or funding for research of their treatment and consequently, their treatment.
I think it's great for people not impacted. What a great place to be! Wish everyone was in that boat.
MOO
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In the US, the process of outsourcing manufacturing of many products has caused not only job losses but a decrease in demand for manufacturing engineers and engineers skilled in design of products. These outsourcing efforts were a result of seeking corporate profits, with little regard for the eventual consequences for the society in general.
Conscientious leadership should have addressed this over the past 3 decades. Neither political party was willing to look at the situation. Outsourcing has caused a slow de-industrialization of the US, a serious, negative transformation. During his 2016 campaign, Trump visited many places that were badly affected by outsourcing, and promised to bring jobs back to the US. This is what drew many voters to vote for him, regardless of whether Trump really had their interests in mind, IMO.
To really reverse the impacts of outsourcing will take more than a decade, IMO. It will require investment in education and manufacturing plants. It would also require revising the tax code to discourage outsourcing and prevent the use of tax credits for building factories serving the US market. The current administration is doing none of these things. Tariffs will not reverse outsourcing - they will just raise prices and enrage our former allies, like Canada and EU countries. And Canada is a scapegoat for a generation of economic policy failures.
It's a philosophy of life. Advocated by various forms of psychotherapy, Stoicism, Buddhism...
Yes, people are being harmed, and I have empathy for them.
Every single case on WS is about people experiencing very bad things, much worse than layoffs. Must we follow them all, every step of the way? Or can we leave it to police and prosectors to do what they can do?
I have given the same advice to posters who become distraught by a case: you can't control this and if it is affecting your mental well-being, step away.
JMO
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That's not at all the same thing. This has wide-reaching impacts that's affecting the majority of a population. It's not the same as a single case. But if it is for you, then that's great! I envy you that you can just move on and enjoy life and not worry! What a great position to be in!
MOO.
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In the article there is a table of US national debt year by year with the explanation.
U.S. National Debt by Year
The U.S. national debt is the total of what the federal government owes creditors. The U.S. has always carried debt, but the total has expanded rapidly since 2008.
Interesting to look at.
Indeed, each tax cut is accompanied by increased national debt.
But so are wars. Ask how much “war on terror” and “Iraq invasion” cost US taxpayers. (I remember 2002. I was telling people, I saw USSR war on Afghanistan ending. You’ll be stuck there and leave the country to a tribal war. In return, I heard, no, we are bringing them democracy…)
Bush/Cheney’s fiscal policy was abysmal. The 2008-2009 crisis was the result of it.
Fluctuations in oil prices cause increase in national debt.
But then, Obama’s economic policy was bad. Perhaps bailing out banks was wrong. Iceland went the opposite way and it survived. I voted for Obama, so I am responsible.
Trump’s past time was marked by increase in national debt for two reasons: 1) tax break; 2) COVID. (COVID-19 was an objective thing, I suspect that the whole world suffered equally, can’t blame the politicians for not trying. We survived, after all.)
But if you look at Biden’s government spending, it drastically increased the national debt. Again, I voted for him.
So the question is “who did it?” and “where did the money go?”
This being said, I bet if we look at other countries, we’ll see similar patterns.
My conclusion: Solid knowledge of macro- and microeconomics should be a must for any political candidates. They have to take an exam instead of useless debates.
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The massive USA national debt that now costs $1 trillion in annual interest is something that cannot be ignored. The USA government plans to increase that debt by $4 trillion through taxation negligence. The USA government is facing unmanaged financial ruin, and needs to pull a rabbit out of a hat to keep his promise of making USA people "rich".In the article there is a table of US national debt year by year with the explanation.
U.S. National Debt by Year
The U.S. national debt is the total of what the federal government owes creditors. The U.S. has always carried debt, but the total has expanded rapidly since 2008.www.investopedia.com
Interesting to look at.
Indeed, each tax cut is accompanied by increased national debt.
But so are wars. Ask how much “war on terror” and “Iraq invasion” cost US taxpayers. (I remember 2002. I was telling people, I saw USSR war on Afghanistan ending. You’ll be stuck there and leave the country to a tribal war. In return, I heard, no, we are bringing them democracy…)
Bush/Cheney’s fiscal policy was abysmal. The 2008-2009 crisis was the result of it.
Fluctuations in oil prices cause increase in national debt.
But then, Obama’s economic policy was bad. Perhaps bailing out banks was wrong. Iceland went the opposite way and it survived. I voted for Obama, so I am responsible.
Trump’s past time was marked by increase in national debt for two reasons: 1) tax break; 2) COVID. (COVID-19 was an objective thing, I suspect that the whole world suffered equally, can’t blame the politicians for not trying. We survived, after all.)
But if you look at Biden’s government spending, it drastically increased the national debt. Again, I voted for him.
So the question is “who did it?” and “where did the money go?”
This being said, I bet if we look at other countries, we’ll see similar patterns.
My conclusion: Solid knowledge of macro- and microeconomics should be a must for any political candidates. They have to take an exam instead of useless debates.
The USA today has made it clear that they want natural resources from Canada, Greenland and Ukraine. The USA does not want to buy the resources that are reportedly necessary for the next generation of economic health. There is no proposal on the table to purchase rights and negotiate fair trade. The USA cannot afford to buy resources.
The USA does not want to deal with Indigenous or Environmental Law, they want everyone to get out of the way so the USA can drill-baby-drill. This is the rabbit out of a hat trick - robbing other countries of their wealth. It starts with tariffs on Canada, then tariffs on the global economy, then what - descending on Greenland with a military operation and overthrowing the government?
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Stoics and Buddhism. True. But why then is everyone upset when USAid is stopped? Let the people on the receiving end take it stoically, no?
And btw, I do believe that: 1) indeed they should take it stoically; and 2) We should limit our involvement in any wars.
3) Main: and if we are helping, remember FDR, his help during the war was in a lend-lease form so money had to be returned. Britain paid the most, but USSR paid some, too. (But Britain got more help).
Lend-Lease - Wikipedia
The aid provided now is likely never to be returned. Plus, there should be such thing as “help efficiency index”. During WWII, aid was not stolen. Israel, probably, can make aid efficient. Or at least so one hopes. Other countries? I don’t know. To guesstimate, we have to look their corruption indices. Sad, but a fact.
So, even given the blunt and abrupt way things are presented, typical of the new government, is Trump trying to turn aid to Ukraine in a form of lend-lease?
What happened with this act?
Ukraine Democracy Defense Lend-Lease Act of 2022 - Wikipedia
Now, a physically destroyed country can’t repay financially. It is a given. But minerals make sense. Canada or Greenland don’t owe US anything because there was no help provided to these countries to be repaid. So, if one wants to buy anything, it has to be only via skilled negotiations. But any country that got military help is another issue.
Now about US foreign aid
United States foreign aid - Wikipedia
And by country
FA.gov
ForeignAssistance.gov is the U.S. government’s flagship website for making U.S. foreign assistance data available to the public. It serves as the central resource for budgetary and financial data produced by U.S. government agencies that manage foreign assistance portfolios.
Popular opinion by CNN poll: 81% of US citizens believe that foreign aid has to be decreased or stopped.
So: lowering taxes will be a bad idea of Trump.
But economically, asking for loan repayment is not that senseless.
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I personally disagree with Canada having shared values with the USA. Everything from government, to justice system, health care values, environmental law, education system, Indigenous Peoples rights ... all different. I also disagree that none of us understand. I think threats of theft from a bankrupt country are easy to understand. Greed without moral compass is the clear rationale or objective behind the tariffs, Trade War with Canada, and threats against Greenland and Ukraine.
I wonder why Susan Rice is speaking to Canadians via publicly owned CBC, rather than doing more to stop the current USA government from destroying the country. I know everyone says there's nothing to be done, but I don't believe that. Senior politicians can do something.
"Former U.S. ambassador to the United Nations Susan Rice described the impact tariffs will have on both economies.
"The consequences will be enormous for the American consumer who will pay a great deal more for cars and many other things, obviously also for Canadian consumers and [the] economies of both countries," said Rice, who served in the Obama administration.
"This is really a self-defeating and ill-advised economic policy. But it also hasno clear rationale or objective."
...
"You know, we are friends. We are longtime allies. We share a peaceful border.We share values, we share interests and yet we're being pitted against one another for reasons that none of us understand and nobody wants."
I wonder why Susan Rice is speaking to Canadians via publicly owned CBC, rather than doing more to stop the current USA government from destroying the country. I know everyone says there's nothing to be done, but I don't believe that. Senior politicians can do something.
"Former U.S. ambassador to the United Nations Susan Rice described the impact tariffs will have on both economies.
"The consequences will be enormous for the American consumer who will pay a great deal more for cars and many other things, obviously also for Canadian consumers and [the] economies of both countries," said Rice, who served in the Obama administration.
"This is really a self-defeating and ill-advised economic policy. But it also has
...
"You know, we are friends. We are longtime allies. We share a peaceful border.
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