Suncor Energy Inc T.SU

Youngins - Something to Think About

[Experienced]

I will use the US  as an example but they are not alone.

This fiscal year, the US Government will spend about one trillion dollars in interest payments to service the National Debt.  To put this number into perspective, about 20 years ago under the Bush Administration Total Government Expenditures were about 2 trillion.  YEP - the current debt payments is about half of what was spent on everything a scant couple of decades ago.

According to the CBO, the US National Debt will increase by over 2 trillion a year over the next 9 years - that is about a 50% increase in the total debt.  What's worse is that after that year, the US Social Security System will pay out more than it brings in and the same is true for Medicare.  

So the increase in the debt will increase at a faster clip unless something is done.

Soooo...what can be done?

Well I suppose lots of things, but all of them involve some sort plan to increase taxes or reduce Government expenditure or some combo of both.  None of that is good news for investors in the future

If nothing is done what then happens?

Easy - Inflation -  the "hidden tax

Now...if you have rich parents then perhaps you don't need to worry.  If not then you are facing some stiff challenges.  

What is the implication of the previous sentence?  

Greater income inequality...

What does that mean?

Take a gander of what is going on right now in Davos and you will get an idea.


Why did I say youngins in the title?


Well I think that is pretty obvious!!

[555rookie555]

The world needs strong leadership to get us through the challenges ahead... Youngins need to vote away from universal income and other social programs!

[jx7000]

JMHO, I think the plan is to crash the western economies (i.e., create a depression), repudiate the debts and then start anew with digital currencies.   Up until 2018, after 15-straight years of provincial Liberal rule, Ontario's monthly interest on the accumulated debt was almost C$1 billion per month. Now in 2023 it's C$13.449 billion per year or C$1.12 billion per month. And

[Torontojay]

Hi Jx7000, Ottawa spent $11.3 billion in interest payments alone in the third quarter of 2023.    According to StatsCan, the net deficit from the Federal Government is $1.19 trillion. They have $1.69 trillion in interest bearing debt as of October 2023.  “Over the quarter, federal government devoted 10.1 cents for every dollar of revenue to the payment of interest,” the

[Experienced]

jx...interesting post There are a lot of people who share your opinion about a grand plan for what is called a reset.  For my part I am not totally convinced about that or at least convinced that the Davos people can pull it off..  But one thing for sure is that significant swings in economic activity like major recessions and depressions do benefit the rich more than the average or

[lastpick]

Amen Experienced about the legacy of debt. I am waiting to see if they have a realistic plan to pay down the debt then I will write a cheque for my share!

[Experienced]

lastpick....sadly I think you will be waiting a long time for that to happen Personally at my age, I expect to be long dead before anything like that happens. If it does actually happen then you can expect an economic fallout like what happened in the 1930s.

[pooltec]

Yepp! and then eventually Russia 1917 all over again. This is the ultimate issue(problem) with Democracy.  To get elected you do what he does!  

[meritmat]

Everybody wants the books balanced.....till the cuts effect you 

[mrbb]

it's not a conspiracy theory (although past conspiracy theories tend to end up being true).  Elon musk had said after buying twitter, all the conspiracy theories from banned account holders came true.  it's plain as the eyes can see, they told us about it, they aren't hiding it. 1. they need to wreck it before they can reset it.  They told us 'build back better'