Rob Luna

And we're already adding to that.

The only way that you get out of it is you start cutting entitlements like Social Security and all those things.

You start raising taxes.

You start doing all the things that we don't want to happen.

So Social Security is pretty much almost bankrupt, right?

So all of this, so the implications are is that

Social systems will fail.

Taxes will have to go up.

The US debt could be downgraded again, which means we would have to pay even higher interest in that.

The US dollar is the reserve currency right now.

Does it stay that way forever?

Well, not necessarily if people lose faith in what's going on there.

It's just like an individual, right?

You can keep racking up debt and living beyond your means as long as you can finance that and put that, you know, people are, you know, credit card debt, I think is an even bigger issue.

We've got $1.3 trillion in credit card debt that the average American has right now.

They're paying 24% interest on, not 4% or 5%, 24% interest.

How are they going to get at that?

By the way, that's an all-time high.

And by the way, we've had the highest delinquency rate we've had since the Great Recession in 2009.

By the way, just the last 24 months, that delinquency rate has doubled.