U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 05-14-2018, 05:15 PM
 
2,360 posts, read 1,036,490 times
Reputation: 2071

Advertisements

Debt= what keeps the working man working daily
surplus= What keeps the man from not working daily
Reply With Quote Quick reply to this message

 
Old 05-14-2018, 05:35 PM
 
2,678 posts, read 2,750,506 times
Reputation: 7740
Quote:
Originally Posted by Lowexpectations View Post
Actually it was tried and done but the economy went into the crapper

I did not know that.


But when we speak of the government going into debt, remember , the government doesn't produce anything or earn any money. They just TAKE money and spend it. It's like you over spending your neighbors paycheck and then telling him to give you more money because you want to spend more. I looked up 'Ponzi scheme' in the dictionary and it's spelled 'Government'.
Reply With Quote Quick reply to this message
 
Old 05-14-2018, 05:37 PM
 
8,302 posts, read 3,471,321 times
Reputation: 1589
Quote:
Originally Posted by stockwiz View Post
We have debt based currency.. it's impossible to pay the debt off because money is debt. Any time someone gets a loan that money is spent into the economy. It must be repaid back at a greater level than which it was created due to interest. This is fractional reserve compound interest banking.
A loan being paid back with added interest is not fractional reserve banking. Fractional reserve is where banks only need to hold a portion of their deposit obligations as reserves. Which has been passe since the crash.

http://www.theguardian.com/commentis...land-austerity
Reply With Quote Quick reply to this message
 
Old 05-14-2018, 05:38 PM
 
17,645 posts, read 12,259,777 times
Reputation: 12883
Quote:
Originally Posted by Nodpete View Post
I did not know that.


But when we speak of the government going into debt, remember , the government doesn't produce anything or earn any money. They just TAKE money and spend it. It's like you over spending your neighbors paycheck and then telling him to give you more money because you want to spend more. I looked up 'Ponzi scheme' in the dictionary and it's spelled 'Government'.
Any examples where you trying to compare the govt to a person or household fail. Also most references to Ponzi schemes are also ill informed and fail as well
Reply With Quote Quick reply to this message
 
Old 05-14-2018, 05:40 PM
 
8,302 posts, read 3,471,321 times
Reputation: 1589
Quote:
Originally Posted by Nodpete View Post
I did not know that.


But when we speak of the government going into debt, remember , the government doesn't produce anything or earn any money. They just TAKE money and spend it. It's like you over spending your neighbors paycheck and then telling him to give you more money because you want to spend more. I looked up 'Ponzi scheme' in the dictionary and it's spelled 'Government'.
You have to separate our governments. Local, state and Federal. At the Federal level money gets created. So spending can happen without taxing the people. More local governments are not monetarily sovereign. They have to tax, take our money and then spend it.
Reply With Quote Quick reply to this message
 
Old 05-14-2018, 05:43 PM
 
8,302 posts, read 3,471,321 times
Reputation: 1589
Quote:
Originally Posted by hitpausebutton2 View Post
Debt= what keeps the working man working daily
surplus= What keeps the man from not working daily

https://www.youtube.com/watch?v=RRh0QiXyZSk
Reply With Quote Quick reply to this message
 
Old 05-14-2018, 07:25 PM
 
2,262 posts, read 1,401,972 times
Reputation: 4920
Quote:
Originally Posted by hitpausebutton2 View Post
Debt= what keeps the working man working daily
surplus= What keeps the man from not working daily
“Credit has done a thousand times more to enrich mankind than all the gold mines in the world. It has exalted labor, stimulated manufacture, and pushed commerce over every sea” Daniel Webster.
Reply With Quote Quick reply to this message
 
Old 05-14-2018, 07:31 PM
 
2,360 posts, read 1,036,490 times
Reputation: 2071
Quote:
Originally Posted by Thatsright19 View Post
“Credit has done a thousand times more to enrich mankind than all the gold mines in the world. It has exalted labor, stimulated manufacture, and pushed commerce over every sea” Daniel Webster.
Credit (aka Debt).. no way around it. You give me credit, but i am in DEBT to you. So in order to pay off the debt, I have to work. If I didnt take the credit, Then their is no need to work.
Reply With Quote Quick reply to this message
 
Old 05-14-2018, 07:32 PM
 
2,360 posts, read 1,036,490 times
Reputation: 2071
Quote:
Originally Posted by Hoonose View Post
You have to separate our governments. Local, state and Federal. At the Federal level money gets created. So spending can happen without taxing the people. More local governments are not monetarily sovereign. They have to tax, take our money and then spend it.
But isnt the city/county/government is to only take out or tax for services it needs to pay the bills and not profit?
Reply With Quote Quick reply to this message
 
Old 05-14-2018, 07:38 PM
 
8,302 posts, read 3,471,321 times
Reputation: 1589
Quote:
Originally Posted by hitpausebutton2 View Post
But isnt the city/county/government is to only take out or tax for services it needs to pay the bills and not profit?
Non-profit. But more local gov'ts might need to save. The Federal gov't doesn't.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top