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USB debt-to-gdp ratio is 125%. That is about the threshold for when most countries are certain to default.
The infinite money trick of printing cash and letting foreign USD holders pay the price instead of the domestic economy is now ending with Iran forcing ships to use Yuan if they want to get theough safely.
A lot of fat, spoiled Americans are going to be learning how to season rice and beans very soon!
The second blackest guy ever replied with this 2 hours ago, 5 seconds later, 20 minutes after the original post[^][v]#1,428,996
The same way people from Cleveland say at least they’re not Detroit, Americans need to start saying "at least we’re not Japan" every time somebody mentions national debt.
Anyone reading this: call your congresspeople and tell them to adopt this as America’s official national debt strategy because nothing else is working.
The second blackest guy ever replied with this 2 hours ago, 1 minute later, 25 minutes after the original post[^][v]#1,428,999
@1,428,995 (A)
My favorite economy is probably the Irish economy because they’re underpopulated, are technically a third world country by the original definition (not allied with the US or Russia), were oppressed for 800 years, and don’t do anything. But their GDP per capita is over $100,000 USD.
The second blackest guy ever double-posted this 2 hours ago, 49 seconds later, 26 minutes after the original post[^][v]#1,429,000
@1,428,998 (A)
Well, Japan’s economic problems are mostly because they have an aging population and they’re not attractive to immigrants. If Germany didn’t have immigrants it would have the same problems as Japan.
Anonymous A (OP) replied with this 2 hours ago, 2 minutes later, 28 minutes after the original post[^][v]#1,429,001
@1,428,999 (The second blackest guy ever)
That is because of a tax avoidance scheme that puts money there on paper, it doesn't actually have such a high GDP per capita if you remove that.
The second blackest guy ever replied with this 2 hours ago, 35 seconds later, 30 minutes after the original post[^][v]#1,429,004
The genius of the Irish economy, is that money is fiat currency backed by nothing, the Irish simply realized this, and decided instead of putting in work, they could just change the rules to benefit their country. And you have to respect that.
The second blackest guy ever double-posted this 2 hours ago, 1 minute later, 1 hour after the original post[^][v]#1,429,015
From Wikipedia:
Ireland's Corporate Tax System is a central component of Ireland's economy. In 2016–17, foreign firms paid 80% of Irish corporate tax, employed 25% of the Irish labour force (paid 50% of Irish salary tax), and created 57% of Irish OECD non-farm value-add. As of 2017, 25 of the top 50 Irish firms were U.S.–controlled businesses, representing 70% of the revenue of the top 50 Irish firms. By 2018, Ireland had received the most U.S. § Corporate tax inversions in history, and Apple was over one–fifth of Irish GDP. Academics rank Ireland as the largest tax haven; larger than the Caribbean tax haven system.
The second blackest guy ever triple-posted this 1 hour ago, 2 minutes later, 1 hour after the original post[^][v]#1,429,016
The reason why countries become tax havens in the first place is because if you’re a country with a small population like Ireland, if you set the corporate tax rate to something absurdly low, so many companies from other countries will choose to do business in your country that the amount of foreign firms paying taxes offsets the fact that you lowered the tax rate, and you can make more money. But obviously larger countries couldn’t do this, if the US tried it, it wouldn’t work.