A nation facing debt has three primary options: default, inflation, or production; however, when a country lacks manufacturing capacity, has widespread illiteracy, and is insolvent, it becomes trapped with no viable path to debt repayment.
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š¤Æ US Debt CRISIS: We're Broke, Uneducated, and Can't Produce!HinzugefĆ¼gt:
How do you pay down a debt when you have no manufacturing base? When Ray Dalio says 60% of the country is more or less illiterate, has a reading proficiency under the sixth grade. So, we're we're broke, we're insolvent, we're uneducated. We don't make anything anymore. So, how do you How do you pay off a debt when there's three ways really to do it? You can default, you can inflate, or you can produce your way out of it. Well, we can't produce cuz we don't make anything anymore. We've offshored our manufacturing. Are we smart enough? Well, no. Half 60% of the country is is illiterate. Are we Are we Do we have enough money just to pay it off? No, we're broke, we're insolvent.
What do we do?
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