US debt ceiling.

[the_bob_delusion]

can someone explain it to me in simple terms. I'm really dense when it comes to global economy.

[poddster]

You will have to ask the ex super treas, Swannie, he could tell you a good yarn 🙂

[*crikey*mate*]

other nations call on the US to intervene because that's what the US has trained them to do.

The US put themselves into that position, they wanted to be the global leaders that all other countries depended on.

[kopenhagen5]

Bob, the USA is still a viable economy to invest in, partly because of it's population and partly because if it's perceived wealth.

[kopenhagen5]

Or crikey, is it because the rest of the world (parts thereof) have put the USA in that position?

[*crikey*mate*]

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@poddster wrote:

You will have to ask the ex super treas, Swannie, he could tell you a good yarn 🙂

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but posters on here were recently trying to convince me that debt was good for Australia.

If this is an example of the ramifications of debt, then what is so good about it?

I don't understand why, when we are already in so much debt that instead of tightening our belts for a while and stopping the spending and introduction of new schemes and policies until we can pay for them.

[poddster]

I dont know on many nation who would ask for American intervention. Most nations would fight that eventuality tooth and nail, but tooth and nail are not vert effective against high tech mechanised weapons and warfare.

[cherry*135]

Crikey you don't expect any country to have no debt do you (or very little debt)?

If the Govt spends money on infrastructure that can stimulate the economy.. more employment, more building materials etc bought.. how can they pay for that if not by borrowing?

As this thread is about US debt ceiling.. I guess we should actually stick with  discussing the US economy.

[carls*world]

Around the 17 trillion figure doesn't sound much like a ceiling. Sounds more to me like nudging the stratosphere.

[kopenhagen5]

Sure am3, but there has to be balance (limits)

[*crikey*mate*]

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@kopenhagen5 wrote:

Or crikey, is it because the rest of the world (parts thereof) have put the USA in that position?

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I don't think so.