DiMartino Booth: US empire will fall just like United Kingdom if national debt isn’t tamed

Fox Business, Released on 2/13/19

Former Dallas Fed adviser and Quill Intelligence CEO Danielle DiMartino Booth says Congress has bipartisan blindness when it comes to dealing with the national debt.

Danielle DiMartino Booth spent nine years as an advisor to Richard W. Fisher at the Federal Reserve Bank of Dallas. Danielle left the Fed in 2015 to found Money Strong, LLC, an economic consulting firm and launched a weekly economic newsletter She is the author of Fed Up: An Insider’s Take on Why the Federal Reserve is Bad for America. DiMartino Booth began her career in New York at Donaldson, Lufkin & Jenrette and Credit Suisse, where she worked fixed income and the public and private equity markets. Danielle earned her BBA as a College of Business Scholar at the University of Texas at San Antonio. She holds an MBA in Finance and International Business from the University of Texas at Austin and an MS in Journalism from Columbia University.

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This is one “analyst” not worth listening to. The UK and USA are very different. The UK rose to economic power essentially through white-washed crime – pillaging India, China and others and more recently by manipulation of financial markets. The USA on the other hand, has vast land areas, resources, and is a technology innovator in sector after sector. The UK is a dud and has only been able to get through the past 100 years on the coat-tails of the USA. As for “bankruptcy”, the US can never go bankrupt given that its debt is in its own money that can be printed to infinity. Debt can either be cancelled, restructured or papered away. But if the debt of the USA was in another currency, then this would be a very different situation.