Recession, have a look at this

[STEMO]

The Americans are going to end up with trillions of dollars of debt, but it won't stop them functioning as normal.

They already owe China trillions of dollars in debts 

Exactly my point. And if they decided not to pay on demand? 
What I meant was write it off, as debt is sold on the international markets. Either way, I doubt the US would ever be seen as a financial pariah.

[Doctor Gollum]

Chinese goods become alot cheaper

[Migv6 le Frog Fan]

Well the post WW2 UK debt was £21 billion, and it took until 2006 until all debts had been paid off.

So, whatever the final UK debt figure that has been amassed at the end of all this, will take a long time to clear again, and I am sure we will go through a period of austerity as the British did after WW2 that I was still seeing as a child in the late 1950's, but how long it will last, who knows!

The national debt was close to £2 trillion before this happened ! Its seems like its almost at the point now that the figures are so ludicrous, no -one really cares any more. There is no realistic prospect of getting on top of it in the foreseeable future.
This Govt. were already spending money the country doesn't have, like a Labour Govt. would from day one in office.
If (and its a big IF) it succeeds in killing off the Labour party as an electoral force for good, then, in the long term it might be worth it I suppose.
Although if the cost of that is the Tory party morphing into a Blairite version of Labour (and this has pretty much already happened) then it also poses the question "what was the point ?"

[Lizzie Zoom]

China is owed..............................................$1.18 trillion out of an overall USA debt of $21 trillion, apparently!

The US is broke in reality.  The American century is over!

[STEMO]

..............................................$1.18 trillion out of an overall USA debt of $21 trillion, apparently!

The US is broke in reality.  The American century is over!

Most countries are broke, doesn't seem to matter.
For the sake of argument, if China and the US started shooting at each other, what matters a few trillion dollars?

[Migv6 le Frog Fan]

If the rest of the world play it right when this is over, then we could make China very skint indeed.
Cant see it happening though. The big players love their globalisation agenda no matter what the cost.

[STEMO]

We need to renege on the Huawei deal for starters.

[Migv6 le Frog Fan]

Absolutely. And as individuals, at least try to stop buying Chinese goods and services, when possible.

[Lizzie Zoom]

..............................................$1.18 trillion out of an overall USA debt of $21 trillion, apparently!

The US is broke in reality.  The American century is over!

Most countries are broke, doesn't seem to matter.
For the sake of argument, if China and the US started shooting at each other, what matters a few trillion dollars?

Well, yes there is that about it.  In fact I cannot imagine China being able to collect the American debt anytime soon, as American military muscle is greater than the Chinese one!

[STEMO]

..............................................$1.18 trillion out of an overall USA debt of $21 trillion, apparently!

The US is broke in reality.  The American century is over!

Most countries are broke, doesn't seem to matter.
For the sake of argument, if China and the US started shooting at each other, what matters a few trillion dollars?

Well, yes there is that about it.  In fact I cannot imagine China being able to collect the American debt anytime soon, as American military muscle is greater than the Chinese one!

Their GDP is also much larger. No good having a population of well over a billion if 95% of them are non productive peasants.

[Lizzie Zoom]

Absolutely. And as individuals, at least try to stop buying Chinese goods and services, when possible.

Maybe with 'Globalisation' now being seriously questioned, perhaps, just perhaps, along with Brexit, the British industrial power can be resurrected and start producing BRITISH goods to replace the foriegn ones, especially those from China! 

[STEMO]

Absolutely. And as individuals, at least try to stop buying Chinese goods and services, when possible.

Maybe with 'Globalisation' now being seriously questioned, perhaps, just perhaps, along with Brexit, the British industrial power can be resurrected and start producing BRITISH goods to replace the foriegn ones, especially those from China! 

You can wake up now, Lizzie. The news is on, have a look. 

[Field Marshal Dr. Opti]

We need to reassess what is important to society and the economy.

Occupations that are truly important such as carers, teachers, doctors, shop workers....etc..etc

Occupations (if you can call them that) that are unimportant such as footballers, F1 drivers, tennis players etc..etc.

[Doctor Gollum]

Put some myths to bed...

https://www.daveramsey.com/show/archives/2020-05-05?mode=listen

[Field Marshal Dr. Opti]

I shall probably go from piss poor to totally impoverished,

Luckily for me I'm a cheerful young chap or I'd be swinging from a rope.