U.S. Debt Culture and the Dollar's Fate | The National Interest
We are well-past the threshold of 70% debt to our National GDP. No economy has survived that pushed past this critical point. At some point, our debt-system must give way to a new method and means of commerce and exchange in order to be viable and solvent in the face of growing economies and currencies such as the Chinese Yuan, the trading bloc of Europe, BRICS, Opec, etc.- FS
We are well-past the threshold of 70% debt to our National GDP. No economy has survived that pushed past this critical point. At some point, our debt-system must give way to a new method and means of commerce and exchange in order to be viable and solvent in the face of growing economies and currencies such as the Chinese Yuan, the trading bloc of Europe, BRICS, Opec, etc.- FS
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