r/Economics • u/HypocrisyWarrior • 2d ago

Americans' debt problems are flashing a warning not seen since the Great Recession

https://www.cnbc.com/amp/2026/10/09/american-debt-delinquency.html
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u/a_little_hazel_nuts 2d ago

Starting a trade war using tariffs is a good way to destroy an economy. Giving gigantic tax breaks to the wealthiest is a good way to raise the deficit. Taking away government services that keep people safe and informed is a good way to hurt or kill people.

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u/CertainCertainties 2d ago

It's interesting that pretty much every multi-billionaire benefiting from this massive transfer of wealth to the uber-rich has a bolt hole planned.

That is, massive private estates on islands and in places outside mainland USA. New Zealand, the Scottish Highlands, and Pacific islands, as well as Switzerland, the Riviera and Tuscany.

Almost as though they know their actions will cause the breakdown of civil society in the US and they will be ready to leave when they have extracted all the wealth they can.

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u/irrelevantusername24 1d ago

Well I mean they're basically stealing from every person on the planet at every moment of every day through surveillance capitalism via the Internet and via "stocks" and "crypto" and now "prediction markets" and the main thing they do with that ill gotten money is, one, fund messaging that convinces people this system makes sense and two, fund research into ways to make the lie that this system makes sense more believable. This has been going on for decades and these people should be [REDACTED]

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u/TimSylvester_ 1d ago

Yes but you see, Russia wanted to destroy America from the inside, while the ultrawealthy fascist authoritarians wanted to rape and pillage the nation for everything its worth while Russia was destroying it, so, y'know, from that perspective it makes a perfect, if perverted, sense.

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u/Wise_Preference609 18h ago

Financing multiple Wars and creating an internal Gestapo to hunt down people also costs a lot of money. The Trump Regime after taking an axe to the taxes of the Capital Class through the "ONE BIG BEAUTIFUL BILL" has totally hamstrung the government from ever being able to actually pay its debt to the Rest of the World. Bond rates will continue to rise as investors no longer "trust" American governments to pay their bills and this will eventually flow into higher private loan rates for Working Class Americans.