• 0 Posts
  • 10 Comments
Joined 3 years ago
cake
Cake day: July 13th, 2023

help-circle



  • LA was chosen because the last LA Olympics was the last time a city didn’t rack up a huge debt getting things ready for the Olympics. And since there have been fewer and fewer cities requesting to host they picked LA extra early in hopes that LA can again keep the cost low enough that other cities might want to host again.

    And now the idiot in chief is going to put himself in charge and insist that this be the biggest dumbest event ever to try to show off how great he is. And after the embarrassment of his birthday parade there is no way he is going to trust someone else to do this and if LA and the US goes bankrupt paying for it, then well that is Obama’s and Biden’s fault.







  • If the government just prints a bunch of money to pay off their debit then each dollar is worth less than before. Plenty of countries have done it and almost always results in hyperinflation. The simple way to understand this is say, everyone has a dollar so very few things will cost more than a dollar, but if you started handing everyone $100 bills then people will see the value of a single dollar as being lower and start charging more for their goods and services. There are other things that go into hyperinflation but this is the explain like I’m 5 answer.

    Now the government is basically paying its bills with a credit card and businesses and other countries own the debt betting that the US will keep paying towards its debt plus interest. If the government stops paying then fewer countries and businesses will be willing to offer credit. And once you run out credit then you have to start printing more money instead of adding more debt.