As long as US debt grows inline with US GDP growth debt is meaningless. Japan has higher inflation and triple debt to GDP. Is Japan going to collapse? Is Uganda a better place to live? Measuring rich countries by how much debt they have when debt is just an indicator of how much confidence creditors have in your economy is like thinking I’m richer than Elon Musk because he has more debt than me. Yeah billionaires with assets fund it easier to get loans, who would have thought? The US has debt because people believe in its future and economy goofball.The US has no problem printing money is whats causing problem you idiot. $20 trillion in debt is not healthy.
“How big and resource rich the us is”
Yes foreign governments have lost faith.
“The Bank of International Settlements estimates that the US dollar is involved in almost 90 per cent of foreign exchange transactions and accounts for 85 per cent of transactions in spot, forward and swap markets. Half of global trade and three-fourths of Asia-Pacific trade are denominated in US dollars.”
Is the US dollar on its way out? | East Asia Forum
While the US dollar will continue to be central to the international financial system, its role is diminishing at the margins.
www.eastasiaforum.org
Yes, please tell me about the vast reserves of oil, cobolt, lithium, gold etc being mined in the US. The US is a debt based economy not resource rich. Go google so more and then come back
Good job proving to everyone you have never left your neighborhood goofball.
2. United States
The estimated value of natural resources in the U. S. is $45 trillion, almost 90% of which are timber and coal. In fact, the U.S. is the leading producer of coal.2 As of 2020, it had the largest proven coal reserves in the world.8Other resources include substantial copper, gold, oil, and natural gas deposits. Also making the list are lead, molybdenum, phosphates, rare earth elements, uranium, bauxite, iron, mercury, nickel, potash, silver, tungsten, zinc, petroleum, natural gas, timber, and arable land.
10 Countries With the Most Natural Resources
Commodities are the raw materials used for products manufactured worldwide. This article lists the top 10 countries with the most value in natural resources.
www.investopedia.com
Don’t mistake YOU being broke for the US being broke.