shortonoil wrote:We have given up even mentioning debt on the national stage. Along with peak oil its the monster in the basement. Just don't open the door.
They are two problems for which no one has an answer! They will just keep pushing on this old buggy until it goes over the edge, and continue to ignore that the bridge is out. It is sort of interesting how a majority of the society has been conditioned into ignoring its own up and coming oblivion, but it can be put into spasms of fear of over climate change, or the need for safe spaces. It really makes one wonder if the monkey brain got wired correctly.
That's funny. When I Google "US debt ceiling", I get a bunch of hits on articles discussing it and expressing concern, from June, July, and in the past couple of days. One from CBS news under "top stories".
When I Google "US $20 trillion debt" I get a whole bunch of articles dated 2016 and mostly 2017. So, just citing this example, how is that "we have even given up mentioning debt"?
And as distasteful as I find lots of debt in the long term, why is it a big deal as long as it doesn't rise as fast as the GDP, long term?
I first started noticing articles proclaiming rapid economic US doom due to all the debt -- in 1985. Back then, hyperinflation was the popular meme, since we'd just had a serious round of inflation. (Back then, due to lack of experience/perspective, that scared the hell out of me at the time).
That was 32 years ago. And here we are: same song, different verse.
So excuse me if I don't wet my pants every time you proclaim all the debt is unpayable, and use worlds like "oblivion".
Given the track record of the perma-doomer blogs, I wouldn't bet a fast crash doomer's money on their predictions.