6 replies to this topic

[nimblebear]

" If you go back 40 years ago, total debt in America was sitting at about 2.2 trillion dollars. Somehow over the past four decades we have allowed the total amount of debt in the United States to get approximately 27 times larger." Has GDP increased by a commensurate level ? Have wages also commensurately increased at the level needed to sustain this ? Have the number of high paying jobs increased commensurately ? Have the total number of any paying jobs increased commensurately ? Has the labor participation level increased commensurately ? Well everyone knows the obvious answers, but apparently no one is willing to commit to the obvious solution. Cut the crap, is akin to cut the debt. Which is akin to cut the horrendous and superfluous spending. When I deal with people who try to BS me, I tell them to cut the crap. Usually stops them cold in their tracks. If it doesn't, I just stop dealing with them. period. Too bad voters can't do the same, and vote everyone out of office, who won't cut the crap. rather they are the ones spending on crap, and producing legislative crap.

[Russ]

Most of the politicians are bought and paid for by the banksters including Obama (9 out of 10 of his largest campaign contributors were bankers), as Martin Armstrong insists the whole system is going to crash and burn because there is denial that the system is broken, until then the politicians will just keep whistling past the graveyard. 2016 is scheduled cyclically (pi cycle) for things to turn back down - "the year from hell." This time the protests will turn violent.

[salsabob]

Throwing these big numbers around is meaningless and represents the typical abject ignorance of 99.9% of people of how our monetary system actually works. For example, $17 Trillion of the debt is federal govt debt; this is unlike any other debt. You can look at it two ways - it never gets paid off since the beginning of the nation or it gets completely paid off about every 3-4 months, i.e. it always has and always will be rolled over. It also represents the total global savings in US dollars; do you really want to take away everyone's dollar savings? A big chunk of the non-federal debt is household debt mostly in the form of mortgages; do you really want to take away everyone's mortgages? Have you ever visited a country (mostly former soviet states) where mortgages are not available and checked out their housing stock compared to our own? Then there's state/local govt and corporate bonds; do you really want to limit our communities and industry growth to cash-on-hand? Oh, and most basic, there is no money without debt. And without money, one's economy would not support the Internet or much of anything else we've gotten use to communicating with. It's not that all is well in the world about debt. Many issues have gotten better since 2008, but much still remains. It's just that you got to drill down well below these meaningless monster numbers to discover the real monsters - which are, relatively, more like gremlins. If these facts shock you, it's because you really don't know how our monetary system works and you are just expressing that old human trait of being afraid of the unknown, i.e. the boogeyman. It's very convenient for certain few people to have vast number of people still believing in this boogeyman.

[Russ]

Government debt is quite different than citizens holding a mortgage that they will pay off. The government debt just keeps growing like a cancer, debt is what has destroyed every civilization in history. 70% of the federal 17 trillion dollar debt is just the interest from compounding, that money is not helping the poor and old, and now some of it is just being shipped offshore to Asian holders of the debt. Printing bonds is printing money that pays interest, the better solution is to print enough money to reflect how much the economy is growing.

You are going to be proved very wrong in the coming years that all this debt is just fine. Politicians in the future must be prohibited from borrowing money.

Throwing these big numbers around is meaningless and represents the typical abject ignorance of 99.9% of people of how our monetary system actually works.

For example, $17 Trillion of the debt is federal govt debt; this is unlike any other debt. You can look at it two ways - it never gets paid off
since the beginning of the nation or it gets completely paid off about every 3-4 months, i.e. it always has and always will be rolled over.
It also represents the total global savings in US dollars; do you really want to take away everyone's dollar savings?

A big chunk of the non-federal debt is household debt mostly in the form of mortgages; do you really want to take away everyone's mortgages?
Have you ever visited a country (mostly former soviet states) where mortgages are not available and checked out their housing stock compared
to our own? Then there's state/local govt and corporate bonds; do you really want to limit our communities and industry growth to cash-on-hand?

Oh, and most basic, there is no money without debt. And without money, one's economy would not support the Internet or much of anything
else we've gotten use to communicating with.

It's not that all is well in the world about debt. Many issues have gotten better since 2008, but much still remains. It's just that you got to
drill down well below these meaningless monster numbers to discover the real monsters - which are, relatively, more like gremlins.

If these facts shock you, it's because you really don't know how our monetary system works and you are just expressing that old human
trait of being afraid of the unknown, i.e. the boogeyman. It's very convenient for certain few people to have vast number of people still
believing in this boogeyman.

[Russ]

Internal Federal Reserve report warns of a coming financial calamity that will
crash the dollar and send gold higher in just a few years....

http://wallstreetwin...shkinreport.pdf

[Rogerdodger]

Too Much Debt: The Debt-To-GDP Tipping Point

National debt to GDP...doesn't matter because you don't understand that it doesn't matter.
China and Russia don't understand either. They have the lowest debt to GDP.
They are so last century.
There is no "tipping point."

http://www.usdebtclo...debt-clock.html

[AChartist]

6T interest of 150T global debt per year is this,

all waste and fraud counts twice. Try loosing one year of income trading misbeliefs and opinions,

and labor another year to make it back, two years gone, counts twice.

Its centuries of unborn fetuses now.

Obviously the .01% peak with market tops which is just credit tops, which is then defining their income,

creation of currency debt.

The Mike Maloney series covers the creditism fraud paraded as capitalism in the orwellian.