[Rancid]

Their fault!!! They did not raise children who take care of them.

I think the European welfare system destroys family because you can rely on the state instead of family... the economy would also faster grow when people do not get welfare money, therefore is the US stronger economically but healthcare and education should the state provide.

Sure, but isn't it unsustainable to just have kids and kids and kids anyway?

[Truth To Power]

That is now. If there's no change in policy, it will reach 500% of GDP as population ages and the burden on Social Security and Medicare becomes more onerous. See the report I posted earlier.

So you are just extrapolating and assuming the debt money system will not be abolished. Probably a safe assumption, but that's not the same thing as the debt NOW being 500% of GDP.

Paying the debt now isn't an issue, but it will be in the future.

It is an issue because the banksters want to keep getting trillions in return for no contribution.

Sooner or later, this status quo will cause a financial crisis.

The status quo is the debt money system, which will indeed cause a financial crisis, as it has many times already.

[wat0n]

So you are just extrapolating and assuming the debt money system will not be abolished. Probably a safe assumption, but that's not the same thing as the debt NOW being 500% of GDP.

I think I was quite clear this is a projection.

It is an issue because the banksters want to keep getting trillions in return for no contribution.

It is an issue because taxation won't cover promised future spending.

The status quo is the debt money system, which will indeed cause a financial crisis, as it has many times already.

It doesn't matter, it will cause a crisis regardless of the system.

[Truth To Power]

It is an issue because taxation won't cover promised future spending.

So instead of giving trillions in unearned interest income to banksters, the government can internalize that wealth flow by recovering seigniorage.

It doesn't matter, it will cause a crisis regardless of the system.

Not so. There is no reason government can't pay for itself if the value it creates by providing desirable services and infrastructure is recovered for public purposes and benefit instead of being given away to rich, greedy, privileged parasites in return for nothing.

[wat0n]

Then you'll get hyperinflation, @Truth To Power

[Truth To Power]

Then you'll get hyperinflation, @Truth To Power

Nope. Hyperinflation only happens when there is a major supply disruption or government has to meet an obligation in a foreign currency it can't earn. Our history of inflation for the last century has been caused by the debt money system: private banksters issue too much debt money in order to charge interest on it, and then when they overextend credit, government has to bail them out by issuing money to prevent a deflationary collapse.