Appears to be a misleading title. I don't see where the Treasury states US is insolvent. Of course, debt shows we are, but no one admits it....still, as far as I can tell. This isn't news
Yes, Fortune calls the US insolvent after examining the treasury data that was most recently released. Not identifying itself as an opinion piece is a major reason why no one trusts the media (outside of their ownership).
Total agreement. Fortune is just using an ordinary report that is just as insolvent as any prior or any future year (until we solve it) to declare breathlessly "Breaking!" and for added chutzpah "The [remaining] media missed it!"
Contributors here are already noting that the article's whole purpose is yet another plug for an Article V convention, which is still a Very Bad Idea in this climate because it wouldn't do what the founders intended it for but would be a total revamp by the cabal if it ever happened. IMHO a Continental Congress would be better but most systems nowadays have little protection against dilution of voices and opacity of decisionmaking. SAVE America is one of the best steps we have to improve things and may found other improvements, but in general we need a restoration of transparency across the board such that the biggest problems are faced squarely and not dialectically. Without dramatic destruction of vote fraud there is little hope for promulgating other solutions to the debt.
Exactly, without voting what chave do we have of influencing, let alone controlling and changing, any of this. Answer is zero. And not sure SAFE would do it either
The US was insolvent in 1913. It literally doesn’t matter. You type zeroes into a computer and suddenly you have more currency. This article is worthless.
The only thing keeping the US from that outcome is that we're currently the worlds reserve currency. The pace that the world is de-dollarizing (look at good pricing, BRICs, petrodollar talks) should give some hint as to what the rest of the world thinks the future of the dollar looks like.
Fair, my point is essentially after de=dollarizing, it's zimbabwe time. Timing the collapse of the dollar to try to turn your money into hard assets is the tricky part.
The only way out that seems reasonable is Ron Paul's Competing Currencies. May the best currency/money win. This would mean no taxes when switching from one currency to another.
Appears to be a misleading title. I don't see where the Treasury states US is insolvent. Of course, debt shows we are, but no one admits it....still, as far as I can tell. This isn't news
Yes, Fortune calls the US insolvent after examining the treasury data that was most recently released. Not identifying itself as an opinion piece is a major reason why no one trusts the media (outside of their ownership).
Seriously poor journalism, wow. Anyone with basic understanding of financials could call the US insolvent, its meaningless until they say it.
Total agreement. Fortune is just using an ordinary report that is just as insolvent as any prior or any future year (until we solve it) to declare breathlessly "Breaking!" and for added chutzpah "The [remaining] media missed it!"
Contributors here are already noting that the article's whole purpose is yet another plug for an Article V convention, which is still a Very Bad Idea in this climate because it wouldn't do what the founders intended it for but would be a total revamp by the cabal if it ever happened. IMHO a Continental Congress would be better but most systems nowadays have little protection against dilution of voices and opacity of decisionmaking. SAVE America is one of the best steps we have to improve things and may found other improvements, but in general we need a restoration of transparency across the board such that the biggest problems are faced squarely and not dialectically. Without dramatic destruction of vote fraud there is little hope for promulgating other solutions to the debt.
Exactly, without voting what chave do we have of influencing, let alone controlling and changing, any of this. Answer is zero. And not sure SAFE would do it either
Don't get fooled into thinking article 5 constitution convention is a good thing (as article proposes).
Always has been.
Since 1913, more like.
The US was insolvent in 1913. It literally doesn’t matter. You type zeroes into a computer and suddenly you have more currency. This article is worthless.
They didn't have computers in 1913.
Anyway in 1913, the total US debt was $39 billion. But that only tells part of the story. There were virtually no unfunded liabilities in 1913.
So it’s even easier than then to ignore insolvency, is what you’re saying.
This is not what's going to bring the American empire down, IMO. Civil war will.
....but you DON'T have any more pizza ---- you're just making the slices smaller.
And when has that ever mattered? People just make do with less.
You can't be insolvent if you print your own money. This is dumb.
Just ask Zimbabwe
Do they have Wall Str. and Bretton Woods in Zimbabwe?
No --- they use gold to buy bread now.
The only thing keeping the US from that outcome is that we're currently the worlds reserve currency. The pace that the world is de-dollarizing (look at good pricing, BRICs, petrodollar talks) should give some hint as to what the rest of the world thinks the future of the dollar looks like.
The Petrodollar is dead. Saudi Arabia left.
Fair, my point is essentially after de=dollarizing, it's zimbabwe time. Timing the collapse of the dollar to try to turn your money into hard assets is the tricky part.
The only way out that seems reasonable is Ron Paul's Competing Currencies. May the best currency/money win. This would mean no taxes when switching from one currency to another.
I like Ron Paul, but nothing up to this point has been reasonable. I doubt a currency collapse will be.
You can't go insolvent if you have your own currency, because you can print until infinity. But you can have hyperinflation.