From the situation in Argentina: Citizens getting pissed off is not preventative, though after their last experience with hyperinflation, Argentina decided to try austerity this time around.
In the US context, cutting spending would also mean cutting significant amount of defense jobs, which would boost unemployment.
And if you have a starving, homeless and unemployed population, you don’t need immigration to drive wages down for low skill labor; I don’t understand why you keep bringing up immigration as a solution.
And losing manufacturing jobs is another classic part of the imperial hollowing out of a culture, along with increase debt and military adventurism…
I would like to believe that those in power would take other preventative measures before a situation like in Argentina happened here in the US. Maybe in five years, assuming the US gets a bit more logical, then that option would be completely out of the question.
Large spending cuts don’t seem realistic in the US, too many different states have competing interests for a majority of them to agree to drastically cut spending without alternatives, imo.
Immigration brings more people in to the economy to pay towards the national debt; more jobs need to be created to accommodate a bigger population. The debt is out of control once it’s at the point when there are physically not enough people in the country working and paying taxes to pay off the interest on that debt. I’ll add that it’d also potentially have to be a point where even if you had high corporate taxes it’s still an insurmountable sum of interest accruing.
Immigration in this context isn’t to drive down low skill labor but to have more jobs in the economy overall to pay towards the deficit.
I agree, losing manufacturing was a harsh blow to US culture and has hurt people in the US more in the long run.
I don’t have a lot of hope. Like I said, cutting spending and raising taxes is political suicide. Every politician runs on cutting the deficit, and it has only gone up.
We’re going to have to default on our debts and the world is going to have to cut us off, and then and only then are we’re going to do something; and at that point, we’re doubly screwed, because nobody is going to want to hold dollars, and there goes our exports and investments.
From the situation in Argentina: Citizens getting pissed off is not preventative, though after their last experience with hyperinflation, Argentina decided to try austerity this time around.
In the US context, cutting spending would also mean cutting significant amount of defense jobs, which would boost unemployment.
And if you have a starving, homeless and unemployed population, you don’t need immigration to drive wages down for low skill labor; I don’t understand why you keep bringing up immigration as a solution.
And losing manufacturing jobs is another classic part of the imperial hollowing out of a culture, along with increase debt and military adventurism…
I would like to believe that those in power would take other preventative measures before a situation like in Argentina happened here in the US. Maybe in five years, assuming the US gets a bit more logical, then that option would be completely out of the question.
Large spending cuts don’t seem realistic in the US, too many different states have competing interests for a majority of them to agree to drastically cut spending without alternatives, imo.
Immigration brings more people in to the economy to pay towards the national debt; more jobs need to be created to accommodate a bigger population. The debt is out of control once it’s at the point when there are physically not enough people in the country working and paying taxes to pay off the interest on that debt. I’ll add that it’d also potentially have to be a point where even if you had high corporate taxes it’s still an insurmountable sum of interest accruing.
Immigration in this context isn’t to drive down low skill labor but to have more jobs in the economy overall to pay towards the deficit.
I agree, losing manufacturing was a harsh blow to US culture and has hurt people in the US more in the long run.
I don’t have a lot of hope. Like I said, cutting spending and raising taxes is political suicide. Every politician runs on cutting the deficit, and it has only gone up.
We’re going to have to default on our debts and the world is going to have to cut us off, and then and only then are we’re going to do something; and at that point, we’re doubly screwed, because nobody is going to want to hold dollars, and there goes our exports and investments.