Debt Ceiling Crisis | What If The U.S. Defaults?

[@dmsoundcollective6746]

I finally got my 22k in my Roth and 401k that may not seem like a lot to most people but for me it's huge my wife and are in our late 50s and have been living from paycheck to paycheck all our lives. Channel and it really changed how I think about my finances now. I hope I'm able to save enough to make a difference for my retirement. Thank you Rob if it wasn't for you I wouldn't be doing anything I told you this before and it's still true you're my hero

[@brianb6957]

I would suggest not paying a penny of tax to these crooks. They, the government, cannot have a cut of everything.

[@jaytan915]

I don't wish the suffering you would go through but I can think of a few silver linings. 1. The US will have to stop waging wars overseas. 2. Developing countries debt would be lighter and their products pay more and 3. The US can learn to manage its finances by responsible budgeting, like everyone else does.

[@noydbwia]

I can hear the credit card companies belly laughing at your #3...

[@jaytan915]

@@noydbwia I am sure all 3 are laughable.

[@damiantirado9616]

Sounds like a good thing

[@josevaldocostaaragao8293]

Hi, Rob Berger! Nice to meet you! I like so much the way you are explaining us about Debt Ceiling Crisis! My sincerely congratulations! I hope one day to take part of one of your mocs! Cheers!

[@parrsnipps4495]

As of 4/26/2023 many House Reps won't sign McCarthy's debt ceiling bill because it doesn't demand enough. However, Biden says just a the bill is he would veto it & reiterated he will only sign a clean bill. So we are still headed for default. The stock market tends to react to things before they happen, so there could be a crash before the estimated X date.

[@eljefe5858]

Yeap. Also read a few month ago that is stimates and date chance for worse on a second or third reading, it could be sooner than end of june.

[@StevePilgrim2013]

Sir, an excellent explanation! Thanks for doing this video. My expectations for our current politicians are low. I could easily see a default (due to political impasse) that lasts from a Thursday through a weekend & into Monday or Tuesday. I fear that even that will do substantial & irreparable damage to the country's standing in the world. Hoping I'm wrong.

[@noydbwia]

No default is going to happen... Nothing is more secure in this world than the moneylender's ability to skate by on a string and keep all the plates spinning.... It's a tale as old as time itself...

[@DaTooch_e]

No default is going to happen. McCarthy went to Wall Street. Biden went to American people. Donors want a deal on the debt ceiling. Poor and middle class will bear the brunt.

[@rubicon3416]

We can't continue to double our national debt every 8 years to keep this circus going. The day of reckoning will come.

[@corralescruiser8957]

What do you suggest we cut? SS? Medicare? Military? VA? Infrastructure? Social programs arent going to make a dent. But cut welfare and child care WIC? Oil subsidies? Farm subsidies? Solar subsidies?

[@attorneyaviator1318]

All of the above. It’s always the response to say that we have no choice but to spend money we don’t have.

[@royprovins7037]

@@corralescruiser8957 Departent of Education, DOJ, FBI and we spend more on the military than the rest of the world combined

[@buddy123hound]

Increase the top marginal tax rate to 90% like it was during the most prosperous time in US.

[@joeb1522]

​@@buddy123houndWe could have a 100% tax rate.

[@davidv.2050]

According to Treasury Department plan, there would be no default on Treasury securities. Treasury would continue to pay interest on those Treasury securities as it comes due. And, as securities mature, Treasury would pay that principal by auctioning new securities for the same amount (and thus not increasing the overall stock of debt held by the public).

[@noydbwia]

Correct, and that's why my continuing purchasing schedule will not be changed, but actually may ramp up a bit. I auto reinvest anyways, so they're more secure than my maturing securities, which I will have so few of until long after the current fiasco.

[@Wha2les]

So this means I shouldn't be concerned on my I bonds? B/c at this point foreign debt like Japan seems more appealing...

[@noydbwia]

@@Wha2les tbh, with Savings bonds, like I Bonds, that is a definitive "will not fail" avenue unless the US Government itself dissolves and the only form of Govmnt. at that time is regional and local "warlords" are the new form of rulers... If the US Gov itself fails, your I Bonds and my Treasuries and everyone's cash (or CDBC) becomes worthless and we'll all have bigger things to worry about. So I say this, Full steam ahead until the show is over. Also, keep your "money" in the US, if the US fails, everyone will be right behind them in an exceedingly short order. If you want to buy something valuable that will always be valuable, yes, it's gold and silver.

[@Wha2les]

@@noydbwia fair enough. Not to be political, but I find it annoying and tedious that a group of politicians are willing to hold all of us hostage on some cuts that will do nothing to actually lower the federal debt. The math just don't add up. And that leads to huge distrust in the federal govt securities. If would be more beneficial to put money with Microsoft right now or some other more stable govt that aren't pulling this kind of shit. I assume the value of the dollar would plummet like a rock when we default eh?

[@jtslaptop]

Can you provide a link to Yellen and/or the Treasury stating this, because I have not heard of it? Thank you!

[@davidrogers0717]

I think the biggest concern is long-term. At what point does the weight of the public debt become too much to bear. We are beyond the ability to payback or paydown, so seems like inflating the dollar is the only lever left.

[@mere_cat]

Agreed. I think higher inflation the next decade is likely.

[@ColonelFredPuntridge]

The debt-ceiling question isn’t about spending. It’s about whether to pay back debt we have already borrowed and spent. It’s not like deciding how much to buy using the credit card. We have already done that. The question is whether we should refuse to pay the credit card bill when it arrives. (What happens to people who spend and run up big credit card bills and then refuse to pay them?)

[@Modikie]

​@@ColonelFredPuntridge you'd think both sides would agree to fix this issue with spending, but Republicans still want to cut taxes but reduce spending, and democrats are still trying to increase spending and increase taxes to compensate for their excessive spending. If we are going to get this under control, we need to at least keep out taxes constant, and allocate resources where they are most valuable, and stop trying to spend even more money like a $3.5 trillion climate initiative bill. These politicians ability to cooperate and compromise for the betterment of America really annoys me. I'm more annoyed with the democrats for just saying "let's get rid of the debt ceiling" and not wanting to compromise on spending, and instead just continuing to raise it. Republicans are being stubborn on this issue because they know democrats won't compromise on spending under any other circumstance other than the possibility of a complete economic collapse.

[@ColonelFredPuntridge]

@@Modikie No, Republicans don't really want to reduce spending; that is just a pose. They have had all three branches of government several times since 1980, and every time, they _increase_ government spending.

[@Modikie]

@@ColonelFredPuntridge I don't have the hard data to back that, but either way, democrats push way harder for government spending and it's usually Republicans preventing them getting approved

[@NevanRead]

The possible x date is June 1st. Source is a letter by the Treasury secretary which was publicly released on May 1st

[@treavey1]

bob makes a really great and key point to be wary of government money market accounts at this time if a debt default seems likely.

[@peterizzo6527]

Excellent information as usual, thank you Rob! Read about the T-Bill situation from your last newsletter. Really appreciate your perspective.

[@canyonoverlook9937]

This issue regularly comes up, doesn't it?

[@patrickm1395]

Thanks for the video. I like the measured tone and your preparation suggestions seem reasonable. a run on govt based money market funds could be problematic for some of the brokerage houses.

[@samialkhammash1985]

In 2011, if I remember correctly. The credit rating was cut because of no budget cut or solid plan to reduce the debt burden, not only the debt ceiling.

[@denconstutube]

Excelent summary. Thank you. You answered lot of questions that were on my mind.

[@joeb1522]

Why would you hold on to your T bills that mature after June, but you wouldn't have any savings in a money market account that invests in T bills?

[@darthnegativehunter8659]

are they implying that US gov has no assets to sell to pay the debt? how is it a default if it has assets to sell?

[@gorjeramirez4418]

I’m a 19 year old with a family I don’t have emergency funds I’m fuckkkked

[@canyonoverlook9937]

When would you move from a money market to a bank account? A week before the date or now?

[@shobhapai8927]

Buffett had a gr8 solution 4 how to balance the U.S. Fed Budget & pay down the U.S. Public Debt: "I could end the deficit in 5 minutes.U just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for reelection

[@danmcgov123]

Unless you've spent your career in the debt markets (as I have), you wouldn't understand how U.S. Treasuries are fundamental to our entire financial system. They are foundational to everything else. Miss principal and interest payments and watch the bottom fall out.

[@johnguertin5054]

Berger for President!!!

[@Wha2les]

Don't you mean when it default? I have 0 faith Congress will get their act together

[@AccordionJoe1]

Defaulting would be the best thing the government could do. Then no one would buy U.S. bonds and the politicians in Washington would be forced to spend no more than is taken in through taxes, tariffs, etc.

[@sandrachivel]

Nice video, all I can say now is my life has changed since meeting Katherine Anne Roos. She helped us become debt free and save for retirement." I made over 220K during this dip, which made it clear there's more to the market than we average joes know. Having an investment adviser is currently the best course of action, especially for those who are close to making losses

[@Eganthegod]

Thank you so much for the advice. Your coach was simple to discover online. I did my research on her before I scheduled our phone call. she appears knowledgeable based on her online resume.

[@nectarcityking]

I invest with Katherine Anne Roos. she is the best when it comes to making high profits in the financial market, she's well accredited and proficient to help you through managing your investments...

[@colemanjnr]

Both stocks and IRA investments goes in for long term , have you ever considered investing to the crypto , forex , Indices market before ? Until now ?

[@Edetienne123]

The financial markets are full with opportunities, but I've learned a lot over the past few years to doubt that. The key is knowing where to focus. Well appreciated, Katherine Anne Roos.

[@Lordlugard1]

I just looked her up on google, Found her webpage & left a message hopefully she responds soon. Appreciate!!

[@shadowninja6689]

IMHO I think the debt ceiling drama is way overblown. Worse case scenario Congress doesn't raise the debt limit, so the Treasury Secretary declares that the debt limit is illegal because it contradicts other spending & tax laws congress has passed (which require the US government to borrow money to fulfill said laws) and continues to borrow money anyway in order to fulfill those laws congress has passed. If anyone dares try to sue them to stop the US government from borrowing more money the courts will quickly rule in the favor of the Treasury Secretary, and strike down the debt ceiling. At the end of the day the worst that will happen long term is the US will have slightly higher borrowing costs because of some investor confidence being lost by this mess.

[@murraypassarieu9115]

Agree. Plus I just don't see congress's corporate overlords allowing these guys to really default. They know it's stupid.

[@paulstein916]

@@murraypassarieu9115 There are a lot of stupid people in Congress. McCarthy only has a 4 vote margin in the GOP caucus to pass legislation. You saw what Gaetz did to hijack the vote for speaker.

[@noydbwia]

That's to the benefit of those of us who don't mind rolling the dice and staying in the t-bill game... I've said since I first started this that there's only two ways to lose on treasuries: 1. Sell prior to maturity and 2. the US gov. goes belly up and I can guarantee you, that ain't happening... They do not lose, ever... They invented the game, the only losers out there that act with emotions when it comes to their money. One has to keep their emotions out of the game if they're gonna go long term.

[@EricMalek]

If you have a credit card limit and you spend recklessly to meet that limit, are you able to raise that limit? You see, this is a concept that eludes our “leaders”.

[@Vade1313]

@Rob Berger Thanks for the info Sir! All my $ is in T-Bills. I'm not worried about getting the interest back at all. I'm worried about the principal! Gonna keep buying and hope for the best. The rates are getting scary though, look at the 4 week today 5.964%..... That's just insane to me!

[@RoobieRhoo]

According to the extraordinary measures letter Secretary Yellen sent to congress, dated 19 Jan 2023, the Treasury is redeeming bonds held in federal retirement funds creating "headroom" to pay existing benefits to federal retirees. When a "debt issuance suspension period" exists, the Treasury is unable to invest in these funds. However, when the impasse is lifted, those depleted funds are to be made whole.

[@durudadlani1931]

In case of a debt default, the social security recipients will have bouncing checks - broke! The politicians will not receive their sweet cheques...What the heck?!?!

[@rosaoddin4338]

Rob - this program was really on point and valuable. Thank you. Your opinion please if possible - I presently have a Schwab treasury money market fund which I’m now thinking of moving those funds to an alternate fund which is essentially non-treasury. I too believe the “crisis” is not likely but really appreciate your measured and practical approach. I’m also considering placing a portion of those funds into CDs of varying maturities.

[@dolliscrawford280]

It went down in the late 90's also not reflected on the chart.

[@juliet1774]

In the event of a recession, in which sectors would you consider "bargain shopping?"

[@evelynmurphy1394]

Thanks for the video! Are Treasury and Gov't repurchase agreements the type of treasuries that could be "at risk" if a default occurs?

[@rob_berger]

In 2011 there are big concerns over repo lending because they often rely on Treasuries for security.

[@shane5967]

@@rob_berger So would you say to stay out of Vanguard's VMFXX and VUSXX until the debt crisis is over since they rely heavily on Gov't repurchase agreements and US Gov't Obligations?

[@peterdupuis9238]

If I can make my payments on time, why is it that the U.S government can’t? Seriously? It’s as simple as that, without all the fancy nomenclature being thrown around. Why should they be allowed to pull this nonsense when I can’t?

[@bradleyvanzile1111]

Chances of defaulting are pretty slim! it would be stupid for the politicians to allow it basically that is saying they are not doing their jobs send home packing! We do not need all the BS!! So what are people going to talk about and make a big deal once the day ceiling is resolved? EMBARRASSING!!

[@allans7281]

Always buy when there’s a panic and sell when times are good

[@allans7281]

I am a 3 month T-bond holder. If the government defaults on the payment does that mean the bond goes worthless or payment it’s just postponed?

[@09gamecock]

Thank you for this video! I feel like I remember some kind of default maybe 2011 or 2013 that DID result in military pay being delayed…Navy Fed and USAA stepped in to front military salary payments. We had Navy Fed so they paid my husband for t One or two paychecks while military was delayed…this would be catastrophic for most military families who probably don’t have money saved and do not have two income households

[@omo2023]

You're referring to sequester and I believe it started in 2011.

[@brucerobertson3197]

An extended non payment of treasury bills would cause the banks to fail. (Treasury Bills are a large part of their revenue.) FDIC Insurance has a significant amount of their money in short term Treasury Bills so they would not have the money to bail out banks and depositors.

[@noydbwia]

Exactly why I feel comfortable at this point, among other beliefs and knowledge of the overall game being played...

[@RWROW]

Interesting that the actual plan being put together by the Treasury to deal with a failure to raise the debt ceiling is not made public. No doubt it is withheld because of the immediate lobbying they'd get from the biggest losers from the plan. But my guess is that not revealing it, means the situation will be uglier when/if it happens.

[@dolliscrawford280]

What if it is permanent this time?

[@MW-xm1rc]

Well a lot of retired union members will stop getting their pension payments because the money is invested in U S Treasury Notes!

[@RoobieRhoo]

The only other option if we do not want to borrow from people who have a ton of money is to tax those who do. We seem to prefer the former and avoid the latter. The rich would rather lend money to the government that have it taxed out of existence.

[@carlyennis775]

You have to have a hungry buyer to sell-off assets at a decent price. If I were in the buyer’s seat, I’d make sure to get everything I wanted for next to nothing and still crush my competition after I took all their belongings. That’s how you become the next Super Power.

[@Hybridog]

You were specific in mentioning Money Market FUNDS and to avoid them during this time. What about Money Market Accounts like savings accounts? Banks are pretty opaque about what instruments they use for these accounts so how would we know one was safer than another?

[@peterlim3189]

Why worried about the debt ceiling, when all they're doing is to print more money??? 😂😂😂

[@Swampdog55]

Rob, Thanks for another Great video! Could you explain why you said you would invest in T Bills but not money market funds that invested in T Bills? I didn't understand that? Thanks!

[@rob_berger]

Great question. I should have been more precise. I wouldn't rely on MMF for liquidity should the gov't default. But I also wouldn't rely on T Bills for liquidity. I would invest in them if yields rose from the fear of default, but with money I don't need right now. Again, the odds of a default are low, but I would use FDIC-insured deposit accounts for liquidity.

[@Swampdog55]

@@rob_berger Thank you!

[@alexgrant11]

Rob, Another informative video. For someone who is rolling a reg ira from a cancelled financial planner into a new firm (Vanguard) ,should we wait in cash money market 4.7% until we see how summer goes?In our past investing, We have never timed the market , however, these are different times. Your advise?

[@DaystarHiker]

Definitely going into default. Unfortunately I am retiring, now. If I weren't I would just leave it alone and live off my income floor (annuity). But given my circumstances: Moving all my portfolios into CD's paying 5.6% for 1 year. After a year perhaps I'll get back into the market, depending on what happens next.

[@davidhicks1155]

You have more faith in Washington then I do. It seems like both sides would rather burn the country to the ground rather than make a compromise.

[@noydbwia]

You have to remember, they need a catalyst to roll out the CDBC... What better way to do that than destroy the small and medium sized banks through supposed "defaults"? The government isn't going to "default". Period.

[@kooba-be]

I don't get why does the US do this show each year. Why not just remove the debt cap, and argue about something more constructive?

[@UtahTrucker]

Great video

[@steveng1413]

Debt ceiling default, if ordinary investor do nothing, they will be broke by the sell down.

[@robevans2114]

Crazy think is after the drama is over everyone gets their back pay so no value

[@GIJO]

If it defaults we all should follow

[@RoobieRhoo]

Look at the 2-year to 10-year spread. These are the bond market inflation expectations. The 10 year is lower suggesting the yield curve is inverted. An inverted yield curve is normally a predictor of a recession, but with inflation well above 2% it may be a sign inflation is coming down, instead. We may avoid a hard landing due to the much needed fiscal stimulus, to complement the massive monetary stimulus since 2008, supporting main street jobs (fiscal policy) while offsetting job losses normally accompanying an increase in the cost of borrowing (monetary policy) as interest rates rise.

[@fredf.3769]

Rob, another good video. Being retired for 10 yrs I'm conservatively invested for income and capital preservation.. 75% corp. bonds = 10% CD's and treasury - 8% ARCC - 6%ET - 1% ZIM. What scares me is that the republicans are willing to go into full blown default, and foreign country's having a fire sale of US debt. Your thoughts?

[@robevans2114]

On the flip side if the Republican crater the US, they probably will be eliminated

[@tshandy1]

What scares me is Biden is simply unwilling to negotiate with McCarthy. The U.S. government has runaway spending problem. And Biden doesn’t want to even contemplate how that can be trimmed.

[@TheToledoTrumpton]

There are two ways this can be fixed. 1. The Government moves from a deficit to a surplus budget. 2. The debt ceiling is raised. The Republicans favor the first, the Democrats favor the latter. Neither one wants to default on the debt, but neither is willing to consider the other solution. There are also 2 ways out of the current constitutional crisis that is making America a social and financial disaster. 1. Politicians of the two major parties start working together for the benefit of American citizens. Government of the people, for the people, by the people, and it not being all about money. 2. The people realize that the Democrats and Republicans are both equally bad, and hold them both to much higher standards, by voting based on merit not party. Quite frankly, I don't hold out a lot of hope.

[@tshandy1]

@@TheToledoTrumpton - "neither is willing to consider the other solution". That is factually incorrect. McCarthy is proposing to raise the debt ceiling if Biden agrees to go along with some spending cuts. Biden refuses to include any spending cuts. Zero. (BTW, I'm not claiming the Republicans don't share equal blame for driving up gov. debt over the last decades. I'm merely pointing out that you've either misunderstood or deliberately misrepresented the current impasse.)

[@JeanValjean875]

@TheToledoTrumpton When have the Republicans ever proposed a balanced budget? Most of the debt growth we've seen has been under the Republican Presidents since the 80s. The only president who actually balanced the budget was Clinton.

[@harikrishnanchandramohan4209]

Its not a ceiling anymore if you can keep raising it indefinitely, is it?

[@krisskogs2532]

Would a Stable Value Fund in a 401k be a good option for loss protection in a U.S. default scenario?

[@RoobieRhoo]

By stable, you mean "safe" and probably invested in government bonds...our debt. My guess is no retirement plan invested in US bonds, including social security, will be safe. The Treasury is already redeeming federal retirement bonds to pay existing benefits, but they cannot issue more because it counts against the debt. That fund has some headroom, but it will go broke at some point. If the impasse is resolved, the fund must be made whole by law.

[@alancunningham3291]

Thanks for explaining why the 4 week T-Bills were dropping.

[@noydbwia]

That's where your bank gets the interest from it gives you a shaving of... My short-term T-bills have already been ratcheted up as I've already cut the cord with banks and make an end run around them to go get the principal directly from the treasury myself.

[@alancunningham3291]

@@noydbwia I have a larger quantity in four weeks maturing this month but I'm not sure if I want to continue with the t-bills until the debt ceiling debate is over. Thoughts?

[@noydbwia]

@@alancunningham3291 Putting it bluntly, the media circus surrounding this latest "debt ceiling crisis" is just another way to distract people for the real reason, which is, the game plan to ramp up the switch from physical currency to the CDBC. There has to be a banking crisis that will help that plan along. The banks that make up the Fed will have no problems, but there needs to be a diversion and this is a perfect one. Since my treasury investment plan includes reinvestments, the "crisis", as it's called, has very little effect on my trust in the system. There were safeguards built into the 2011 crisis that virtually guaranteed that the treasuries would be paid, regardless of whatever else. T-Bills are the safest place for your "money" there is, not a doubt in my mind on that.

[@RoobieRhoo]

Much of our debt is owned by the US, ourselves, in the form of private and public pensions, social security and Medicare, state and local governments, our financial system including the Federal reserve (~$6 trillion remitting profits to the Treasury), and to support our dollar as the global reserve currency. We owe other nations about $6 trillion, and China only about ~$1 trillion. So, who are we going to default on? Ourselves? The debt is more a measure of our financial wealth and economic power than a ticking time bomb.

[@wric01]

Silly to wait for it to happen, i cash out now and let it tank as it does every 5 or 10 years. Then ride it. Don't sit.

[@marklewus5468]

I’m selling everything, buying physical gold, and burying it in my backyard :) Just joking, I’m doing the same as you. I really appreciate that you’re not one of those KZbin clickbait doomsayers. As Winston Churchill once said, “Stay calm and KBO…”

[@FoursideAssetManagement]

Predicting that the stock market will move down is not necessarily a good call. The opposite could occur: investors could theoretically exit the bond market in mass and invest MORE in the stock market: it is predictably irrational. The government is not likely to announce a "default." More likely, it would recharacterize (politicize) the default as a "partial default." I think many would simply see this event as a buying opportunity. The real blowback would be a massive change in American Politics: when Americans lose their money, they are going to demand new politicians in mass.

[@rosaliethomson4655]

I think the stock market is the only game in town at this time. I'm doing O.K. Not complaining.

[@FoursideAssetManagement]

@@rosaliethomson4655 CDs and Bonds are giving a better yield than many stocks.

[@noydbwia]

That has seriously never resulted in "new politicians'.

[@FoursideAssetManagement]

@@noydbwia we get new politicians all the time: especially when the economy suffers, Americans love to flock to the opposite party.

[@lynndowless5152]

Ain't gonna happen. At the last minute they always come through. No debt default.

[@eddiekulp1241]

Keep borrowing and time will come when all taxes will go to just interest on debt . Economy probably collapse at about 50 %

[@oppenheim2]

There’s no chance the debt ceiling won’t be raised…… “There's a case to be made that if Congress decides to default on the debt, the president has the power and the obligation to pay it without congressional permission, even if that requires borrowing more money to do so.”

[@orioles7023]

you're right, but ... if we look at the flip side, there's no way that a deal gets done until enough pain is being felt to force one. If Biden were to act unilaterally before an obvious crisis, then he gets a lot of heat for Executive overreach and no credit for solving a crisis. Each side thinks they score points by blaming the other side when it's actually a lose-lose proposition. And there are lots of newly minted Congressmen who have no idea how markets work (they certainly weren't around in 2011). Just saying ... there will be some market jitters first.

[@oppenheim2]

@@orioles7023 As if the insurrection party cares if there is a default or Depression.

[@debaterforhim]

Why do you think FedNow is coming out in July? Makes me think they want to come in and "save" us... while simultaneously gaining more control and being the reason the markets crash in the first place, but... let's ignore that... 😅

[@oppenheim2]

@@debaterforhim As I understand, since the Fed’s goal of getting to 2% will take awhile longer than originally expected and community banks are most impacted currently and for awhile as the Fed keeps rates high and possibly higher it will shorten disruptions…..and REDUCE chances for a crash, which would cause more borrowing. There was a systemic crash in 2008 and a pandemic one in 2020 averted from being systemic by the Fed and Congress in 2021. Currently, with a divided Congress, one side wants a recession so only the wealthy benefit. Meanwhile, we are in the 4th Industrial Revolution - digitization: AI and robotics being the latest technologies. The other side wants to further it so all benefit. If the debt was such a problem now, a systematic crash would have already happened.

[@debaterforhim]

@oppenheim2 you could be right, I'm a bit more jaded when it comes to our politicians, though... I don't trust either side of the aisle... personally think they made people rely on them during Covid, so it will be easier to transition us to FedNow, and FedNow looks to me like a step toward globalization and the CBDC. It doesn't help my opinion when I see that the WHO is about to take over all our policies for "pandemics." But honestly, I could be wrong... I hope I am.

[@pkstar4641]

Should we take out all our money out of our accounts?

[@orioles7023]

No

[@douglaswong6975]

It's a "Chicken Little" movie show, a great movie night if show it together with "Spiderman" Freaking out and spinning nonstop

[@stevemlejnek7073]

If the stock market goes down a third, I will do some Roth conversions.

[@monster-ok9pr]

If I don't make a mortgage payment in a month, I get a foreclosure notice. Life would be glorious if I were able to accumulate trillions of dollars in debt.

[@anthonyenos2835]

Who are we borrowing money from?

[@Random.Adventures.]

Thanks curios what happens to the bond markets. Usually everyone runs to bonds in a recession so bonds go up as a safety new but when GOV defaults I'd say are bonds are not a safety new anymore correct?

[@JohnAlvarado-th7tt]

BY THE LAW OF THE UNIVERSE: nothing makes everything all better again! . . . Don't claim innocence or ignorance you knew what you were doing with you accepted

[@RWROW]

Good review, thank you. You didn't mention actual cash in hand. Any chance this situation could get so bad that having extra cash in hand might be necessary?

[@tenacious645]

Promoting that is how you end up with a banking system collapse ironically making your cash in hand worthless.

[@coconat777]

Cash will be worthless. Better to get gold or other metals, or even basic necessities

[@eBroncos]

What is the difference between High Rate and Investment Rate that I see in the auction results?

[@GingerM14]

The signs above his head look like eyes. 👀

[@marionmarsh318]

Rob ...Who are we Selling the GOLD to?

[@JohnAlvarado-th7tt]

You think you're getting what you want but just you wait remember nobody tried to kill you nobody harmed you all of your bad life was your decisions so remember that

[@terrymurtagh8814]

Yah, so 3.7 trillion dollars of tax revenue is just going to stop flowing in. I don't think that is the case.

[@two_sillys_trap]

Never waste a crisis, man-made or not. How can the US profit from this US debt default crisis?

[@kellylavoy6566]

So technically apeaking if wages (not minimum wage) increases and the government made corperates pay more and kept food prices / howpital bills low then we could pay iff our debts? And avoid all this while taxes corperations (making them stay) and bringing back manufacturing home like medications, lil/ green tech, local famers there would be self sustaining micro evenrotiments (cities/towns), then macro level each state is surained we could avlid this whole situation?

[@CBBC435]

3:15 The delayed cost of subsidizing China's rise.

[@johnlime9065]

Congress's refusal to provide a clean bill to the President, opting instead for unacceptable provisions that hinder the resolution of the debt ceiling issue, demonstrates a dereliction of its duty. This stance has created a state of uncertainty and threatens to disrupt the financial stability of the government. Without a timely resolution, the nation faces the risk of default, which would have far-reaching economic consequences. It is crucial for Congress to prioritize the proper functioning of the government, fulfill its responsibility to ensure financial stability, and act in the best interest of the country by swiftly addressing the debt ceiling issue and avoiding a potential default.

[@Tess-he3qg]

It will never end because they will not stop spending money on stupid stuff.

[@murphy9924]

The government should file for a chapter of bankruptcy. It'll be fine.

[@rosaliethomson4655]

I'm looking to get dividend income. People will still eat, etc.

[@mattmatt245]

Any risk to brokered CDs from FDIC insured banks ?

[@OminousRooster]

Good honest outlook. But the unknown is still there. Can you do a video on CBDC. It’s coming

[@romecottrell6444]

The U.S. Government should pay off all my bills 😊.

[@SoulfulVeg]

As a former FL resident, it's insane that DeSantis is focusing on this. Affordability crisis, skyrocketing insurance, high property taxes & rebuilding hurricane impacted communities should be his top priorities.

[@ororinator5596]

@Lazy Way then keep him there

[@orioles7023]

is he? I never hear Insantis talk about anything except his Culture War schtick.

[@tengoken4313]

he's a republican. power is his only real priority.

[@TrillReese]

Government has been attacked on all fronts

[@WFox-zs3oe]

All those things you just referred to involve the debt ceiling.

[@AtmaureanNoble7]

Tell the U.S government to pay their own bills.

[@AlexanderRodriguez-ym7we]

"You will owe nothing and be happy". (Klaus Schwab, World Economic Forum)

[@noydbwia]

It's a-coming...

[@Hhbdr]

So what will happen to my money in the bank? I think that is the only question?

[@EricMalek]

If the US government defaults, we AS A NATION tell them NO on April 15.

[@Tony-ft4jp]

Gold.and silver?

[@Groot_for_prez]

Is that ROM in the background? How would he handle the debt ceiling crisis? 😂

[@kylehoward5889]

Let them default! Our government spending is out of control.

[@frankrusso7745]

They deserve to pay more IBM Google Everything was up After hours Except that stupid bank Republic