Comments by "DrScopeify" (@drscopeify) on "Treasury Secretary Janet Yellen: We should be looking at the real interest cost of the national debt" video.

No, the USA has reduced buying oil from Saudi Arabia as the USA is oil independent the USA now produced more oil than Saudi's so it is perfectly logical that the Saudis are also selling oil in other currencies this has no impact on the Dollar or the USA. You can go and fill your face with nonsense but in a year from now when the Dollar is the same level you will look like a clown.
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@twesj We are not buying oil from Russia
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At least the Dollar is backed by every single American going to work every day, Bitcoin is backed by faith in others not to sell.
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@tomzeitler5648 That's becasue people demand higher wages, since the baby boomers and their parents promised a better life after WW2 so sent their kids to university, and this lead to a lack of Blue collar workers and so factory workers seeing huge BOOM in demand for goods with the rising baby boomer population demanded higher pay = MASSIVE protests, union strikes in 1970s and 1980s leading to outsourcing to Asia. Well first it was Italy and Japan and now China and in the future India and Africa, the thing is Americans always want better, more, less work, more money. It is not that the Dollar is falling, against other currencies it is pretty strong right now, decades high against the YEN and Euro. So what is going on? It is wages. Why is it so expensive for you to fix your car? Its not the parts made in China its the labor, the manhours are a fooookin fortune. How do you fix this? We need more Americans, more immigrations more children, more babies. This country has room for easily 1 billion people like China but we only have like 330 million so yeah we need lots and lots and lots of people then labor will be cheap and prices will fall. It s a mistake to think inflation is the problem, the USA has had 12 years of low inflation from 2008 to 2020 forcing the FED to buy bonds and provide QE. What we need is more people in this country to reduce the cost of manpower. That's the freaking root of the problem. Americans are getting older not younger = less people working. Old people in their 50s are not going to fix your car for cheap you need young kids in their 20s and 30s but take your car in to a garage what do you see? OLD GUYS. That's the problem.
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No you cant cut defense when China is rising and Russia has become imperialist and defense is spending in the US economy it is jobs, technology, innovation, this is not thin air it leads to growth and GDP. Just go to Salt Lake city and see all of the military tech companies they all depends on this money to innovate and keep the USA #1 in the world. If you cut you will get less of everything. The best is to grow the economy = more taxes by nature
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@palmettoblizzard2694 Well the USA debt is not what meets the eye, the US Government itself owns 7 trillion of its own debt which is actually positive cash so the USA has 7 trillion cash that is invested in to buying and holding it's own debt. The FED has another 4.7 trillion and the US Government gets the interest handed back over like all central banks do that, this is how Japan is able to have 240% debt to GDP becasue the central bank owns that debt which the interest is handed back to the Government. The USA is the same. So if you add the 7 + 4 trillion = 11 trillion is interest free or internal 34 -11 = 23 trillion of actual debt that is outside of the US government which is below the GDP like 84% debt to GDP. It is high but not that bad. The USA will probably have to raise taxes in the future to get that even lower back to like 70% would be a good place.
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@palmettoblizzard2694 Don't fool yourself it is not a Ponzi. As long as you live in a county with a Government they have the power to make laws and the first law is the creation of money. Even going back 10,000 years there has always been government by the demand of the citizens in the lands and as such there has always been money and where there was no Government like the Germanic tribes during the Roman period, they wanted to do business with Rome so they used Roman money. The power of authority and trade ensures that money is not a ponzi and is real. If Roman money was in use for around 800 years and guess what? If you find a Roman coin you can sell it on eBay for MORE than it was worth back in it's time so even today 2,000 years later Roman money is still real. Where is the Ponzi? There isn't one. It's not a Ponzi. Even when a country's money is hyper inflated like Germany after WW1, guess what? they went on to fight another world war soon after and after losing that war too, they are today the #3 largest economy in the world so all that Ponzi talk, fear of crashes and war and hyper inflation? It is all meaningless in the long run, life always moves on and the economy always keeps on beating. Betting against money, authority and Government is a losing battle especially not in the length of time of a human life
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Well the Dollar at least against other currencies has gotten stronger over the last 10 years just look at the Yen to Dollar
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Well under Trump it was a rich investment banker guy from New York named Steven T. Mnuchin, is that better? Having Wall Street banker watching over your countries money?
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Explain please
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And during Trump the head of Treasury was a New York WallStreet investment banker LOL is that better ??
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Well we are still fighting COVID inflation issues today, just look at the shelves in the Grocery store there are still a few empty shelves no??? That empty shelf has to be fool for prices to fall. Keep that in mind so COVID problems are still with us if you like it or not,
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@George-f8h When the US government borrows money from the FED it is free money becasue the FED hands Back the interest it collects on US bonds = free money for the Government, this is how Japan has 240% debt to GDP it is mostly from the central bank like we do with the FED. The only question is..... Will US inflation in the long term once more go under 2% like 0.8% and then force the FED to start buying more Government debt = free money for the US Government. It seems that in the long tun the answer is YES but anything can happen. If China invades Taiwan and we lose all trade with China, BOOM we have inflation above 2% for like 30 years to come but we will also gain millions of jobs in industry and manufacturing here in the USA so in the end it all balances out. But I doubt China will do that, China has like 300% debt to GDP so like 2x our debt and yet people are saying the USA has too much debt but look at China and Japan. But hey even Germany had hyperinflation after WW1, and owed like 1000% debt to GDP becasue of repaying for WW1 reparations but even all that crap did not stop Germany from going to another world wide war and even after that coming back today to being the world #3 largest economy it is today so yeah, all that debt, hyperinflation in the long run means nothing, its all water under the bridge.
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