Movie paints picture of catastrophic future

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OMAHA, Nebraska (AP) -- The catastrophe looming in the documentary "I.O.U.S.A." isn't romantic like the doomed young love in "Titanic," but billionaires Warren Buffett and Pete Peterson warn it could break many more hearts.


The assumption here is that someone actually pays for those government bonds the government has been selling.

The truth is.... aint gonna happen.
The currency will be devalued as the debt grows higher , prices will rise , savings will grow worthless , and the amount owed, in american dollars will grow less because american dollars will become worth less.

And so there will be a series of slow adjustments as prices rice and the dollar falls so that the interest paid doesn't ever grow to be too much of the economy.

And lenders like these two billionairs will take a bath , in blood , over their losses.

The truth is in 1886 a bottle of coke cost a nickle (and had cocain in it), now it's almost two bucks. That would be 2000% inflation a century.

but .. the national debt was less than 100$ / person in 2004 dollars in 1900 , now it's over 20 000$ / person

22cents / hr x 20 = $4.40 an hour today. And that's average , not a dead end minimum wage earner.

Obviously people have grown wealthier over time on top of the value of the dollar decreasing.

In the end , if it worries you , buy real objects. Gold (illegal in most western countries) land , invest in a grocery store because people always gotta eat , and you'll weather any storm.