The same con artist who managed to bankrupt a casino where "the house always wins" just bankrupted the United States of America.
Everything Trump Touches Dies (ETTD) including empires, economies, and countries.
https://fortune.com/2026/03/23/us-government-insolvent-fiscal-crisis-fix/
The King of Bankruptcy has certainly managed to pull off his greatest achievement.
@danwentzel
Sorry. As much as I hate Trump & like your ETTD acronym, debt fear mongering like this is bullđŠ. USA canât become insolvent in its own money. Fed gov creates $$ when it spends them into existence. We donât need to borrow/tax to acquire dollars. See #MMT, eg Stephanie Keltonâs âThe Deficit Mythâ or https://findingmoneyfilm.com/
Nonsense like this prevents us from housing, feeding, educating, & providing healthcare with pointless âhow are we gonna pay for it?â question.
@danwentzel unfortunately this article is pulling a switcheroo on you.
While the numbers itâs quoting may be accurate, the conclusion it draws is not supported. If you look closely, itâs an opinion piece which is advocating for two specific Republican bills that, based on the language in the article, would cut social welfare programs.
This is an example of manufacturing consent. Fear-mongering about national debt in order to justify a desired outcome.
@Haste whether you like/support the article - fact is: the dept has peaked - stated by other sources: as of March 2026, the U.S. national debt has surpassed $39 trillion. This is indeed just one more proof of Felon 47's incompetence.
I always thought anything that said 'pretend the government was your home budget' fell into the "simple, straightforward and wrong" bucket of lies they use to sell 'austerity' to idiots. This is another one of those, isn't it?
@Orb2069 @danwentzel Iâm not an economist, so while that is my current understanding as well, I donât feel confident asserting it.
Thereâs plenty to chew on regarding the articleâs vested interest so I just left that alone. :P
"Everything Trump Touches Dies" ⌠But in a few time, everybody will want Trump dead ⌠I hope, and already think it since years
Dress code at Trump funerals
đĽłđĽłđĽłđĽłđĽł
@danwentzel that link is paywalled, but MSN has it unpaywalled: https://www.msn.com/en-us/money/markets/the-treasury-just-declared-the-us-insolvent-the-media-missed-it/ar-AA1Zebhg
But the title is nonsense; the issuer of a currency cannot be insolvent in that currency. And the content is mostly tired Republican talking points used to justify cutting spending on things Republicans donât like, which they conveniently ignore when increasing spending on things they do like (or decreasing taxes on the rich). We should make financial changes, but not the ones they suggest
Hello fellow mmt-er. The very real problem is where that money is distributed. Billionaires have set themselves up right at this spigot in what doesnât go directly into their bank accounts they capture quickly by squeezing it out of us.
And we are the ones made to take whatever in infinitesimal dollars we get and pay taxes in order to diminish that negative balance thatâs called debt, but is the money supply.
Tax wealth out of existence
@GhostOnTheHalfShell @danwentzel yes; thatâs one of the financial changes I think we should make.
âMoney is like manure - itâs not worth anything unless itâs spread around helping little things growâ
A long time ago I got associated with the concept of money that dies. It can sound like the same effect as inflation, and in fact, economists lack ability to distinguish it from taxation.
One flavor of this idea was proposed by Gesell as Freigeld.
His line of argumentation is money must have the same constraint as every other good : decay. In other words if you sell $100 of goods in a reasonable amount of time you need to buy $100 because it expires for is taxed
The essential idea is and this has been established because expiring money systems existed in Europe between the 10th and 16th century. Periodically twice a year the entire money supply was re-issued and people could purchase three new coins with four old coins, a 25% tax.
The mint, of course, could furnish as much money as a city needed. This system is known to be price stable (inflation free) and nearly interest, free because people surplus ..
Will lose 25% of its purchasing power when the new money is issued. Nobody hung onto coins. They turned them into something they needed or lent it out.
The other thing you can do is pay a different tax liability.
The article though is complete hogâs puckey.
Per #mmt, government spends money into existence. It doesnât print it at some other time spending is money creation for the federal government.
The negative balance of the federal government represents the money supply. The negative balance by accounting identity is paired with positive balances in the non-banking sector.
The principal problem is the size of the money supply that the super rich control.
They need to go
@GhostOnTheHalfShell @danwentzel
While the rich do not look very tasty, as regular food becomes too dear, the 1% become more palatable.
The rich are the cancerous mass on our lives. That cancer will continue to absorb all the nutrients in society until it kills it.
tâs stage four at this point.
Corporate size and obscene levels of net worth are the disease. It can only be cured by shrinking it down to size where all of us have an equal say in our lives again.
The super rich are an extinction cult. We are the ones slated for removal.
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