I could tell you a story of the kettle and the pot but maybe you're going to pop a vein so I'll have mercy on you!
I will till take the time to remind you that's not nice to ask people questions and demand they answer when you don't do the same, but anyhow since I'm always ina good mood making fun of doomsayers and they completely lack knowledge of economics, I'll entertain you
They will pay it back just as they have served their debt forever, since unlike Russia and China which have debt lol in USD, nobody is asking the US to take debts in rubles or yuans, and most important if you get your nose from those doomsday clocks and things you will see that the ratio of US debt to GDP is on a continuous decrease for 3 constant years!
Also, if you stop to read Chinese and Russia propaganda you would see this:
https://www.livemint.com/economy/china-vs-america-us-gdp-rises-6-3-outpacing-chinas-4-6-to-become-world-s-biggest-economy-11706236229488.html
You will also find out that China has a bigger debt than the US, and again, it's in $
https://asia.nikkei.com/Spotlight/Caixin/China-s-debt-to-GDP-ratio-climbs-to-record-287.8-in-2023
Because it's easier to say you're only $100 find debt while your kids own $100 000, like the Chinese government does with both provinces and prefectures allowing them to have external debts.
Also, trade surplus...of yeah, the horror
Russia had a 9-year trade surplus, it defaulted in the 90's, the URSS had a trade surplus forever, it crashed down, Germany had always had a trade surplus and never managed to catch in GDP per capita with the US, and most important, it's a different thing for each country.
Let me give you an extreme example:
Vietnam is one of the largest exporters in the world, it has a $371 billion export, now....there is a problem, their GDP is 408 billion...so...
The trade balance is meaningless in value. if you spend $100 to export $101 it's a worse deal than spending $100 to import $105 that will make your economy grow by 10%, the US has never had a positive trade balance over 1% since ww2, Russia has always been positive and they work for 210$ a month!
Since you love the talk about wars so much, when was the last time that a global power that held the dominant global currency was attacked and defeated on home soil or lost 70% of its resources and territory, an event that led to its demise?
So, 10, 30, 50 years...it all depends on when Canada decided to invade and defeat the US
And seeing that Russia in Ukraine is progressing by 2.78 km2 per day, this will take about a few tens of million years.
I will till take the time to remind you that's not nice to ask people questions and demand they answer when you don't do the same, but anyhow since I'm always ina good mood making fun of doomsayers and they completely lack knowledge of economics, I'll entertain you
Since you like to continue, forget about the part above and please don't respond to it because there is no point in arguing with you further. I only want to hear one thing from you:
Just tell me what will happen next?
How will the US pay ~$35 trillion back? Do you think the US will be having trade surpluses any time soon? Will they sell their gold? What's the game plan?
Do you think the USD will keep being the world reserve currency? Is it sustainable? If so, for how long? 5 years? 10 years? 100 years? Forever? What's your guesstimate?
Just tell me what will happen next?
How will the US pay ~$35 trillion back? Do you think the US will be having trade surpluses any time soon? Will they sell their gold? What's the game plan?
Do you think the USD will keep being the world reserve currency? Is it sustainable? If so, for how long? 5 years? 10 years? 100 years? Forever? What's your guesstimate?
They will pay it back just as they have served their debt forever, since unlike Russia and China which have debt lol in USD, nobody is asking the US to take debts in rubles or yuans, and most important if you get your nose from those doomsday clocks and things you will see that the ratio of US debt to GDP is on a continuous decrease for 3 constant years!
Also, if you stop to read Chinese and Russia propaganda you would see this:
https://www.livemint.com/economy/china-vs-america-us-gdp-rises-6-3-outpacing-chinas-4-6-to-become-world-s-biggest-economy-11706236229488.html
Quote
US gross domestic product rose 6.3% in nominal terms, compared to China's 4.6% gain in 2023. The US economy is emerging from the pandemic period in a better place than China’s.
https://fortune.com/2024/05/27/china-economy-outlook-growth-us-gdp-forecast-aging-population-demographics-high-income/You will also find out that China has a bigger debt than the US, and again, it's in $
https://asia.nikkei.com/Spotlight/Caixin/China-s-debt-to-GDP-ratio-climbs-to-record-287.8-in-2023
Because it's easier to say you're only $100 find debt while your kids own $100 000, like the Chinese government does with both provinces and prefectures allowing them to have external debts.
Also, trade surplus...of yeah, the horror
Russia had a 9-year trade surplus, it defaulted in the 90's, the URSS had a trade surplus forever, it crashed down, Germany had always had a trade surplus and never managed to catch in GDP per capita with the US, and most important, it's a different thing for each country.
Let me give you an extreme example:
Vietnam is one of the largest exporters in the world, it has a $371 billion export, now....there is a problem, their GDP is 408 billion...so...
The trade balance is meaningless in value. if you spend $100 to export $101 it's a worse deal than spending $100 to import $105 that will make your economy grow by 10%, the US has never had a positive trade balance over 1% since ww2, Russia has always been positive and they work for 210$ a month!
Do you think the USD will keep being the world reserve currency? Is it sustainable? If so, for how long? 5 years? 10 years? 100 years? Forever? What's your guesstimate?
Since you love the talk about wars so much, when was the last time that a global power that held the dominant global currency was attacked and defeated on home soil or lost 70% of its resources and territory, an event that led to its demise?
So, 10, 30, 50 years...it all depends on when Canada decided to invade and defeat the US
And seeing that Russia in Ukraine is progressing by 2.78 km2 per day, this will take about a few tens of million years.