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Foreign Affairs

bucolic_frolic

(53,602 posts)

2. Thanks for the summary, time saver for us all

Reply to TexasTowelie (Original post)

Sun Dec 7, 2025, 04:36 PM

Sunday

A global deflationary spiral could wipe out everything. Debt is a balance sheet entry. It always has to be cancelled, refinanced, or written off in some manner. Few notice because they call them something else or something related to their era, but we've had banking collapse after banking collapse, even since 1970. NYC meltdown, the S&L Crisis, the dotcom bubble, the housing bubble, Lehman Bros, etc. Each is met with an infusion of cash to prevent collapse. They're all accounting tricks. I don't think crypto is any different.

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Shipwack

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Highlight:

How France is becoming a 'third-world' economy - CaspianReport [View all] TexasTowelie Sunday OP

Oh well, the US is already at 125 percent debt-to-GDP BeyondGeography Sunday #1

Thanks for the summary, time saver for us all bucolic_frolic Sunday #2

For once, all of us can be thankful for AI. TexasTowelie Sunday #3

The common man in the US had better pay attention as we are beginning to look like France Stargazer99 Sunday #4