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Old 05-16-2018, 09:42 AM
 
2,360 posts, read 1,029,790 times
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Quote:
Originally Posted by UNC4Me View Post
I have no debt and yet I work daily. Even those without debt have bills to pay and if they’re wise want to save/invest for their retirement and to have a good emergency fund. Or at least that’s my plan. YMMV.
exactly, we always will have bills. No way around it, and dang sure now way to keep them from raising the rates. (water, power) are all by board members. We got to eat, so bills for food. See with out debt your able to save for your retirement, just lot harder for a person who has huge debt to do that.
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Old 05-16-2018, 10:08 AM
 
5,607 posts, read 4,162,357 times
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Quote:
Originally Posted by hitpausebutton2 View Post
exactly, we always will have bills. No way around it, and dang sure now way to keep them from raising the rates. (water, power) are all by board members. We got to eat, so bills for food. See with out debt your able to save for your retirement, just lot harder for a person who has huge debt to do that.
Yep. When we were younger and had a mortgage payment and dependent children, saving was harder. We still did it, just not as much as we’re able to do now. And while I can’t control the water/power rates, I sure can control my usage and keep my bill low. If I ever agreed to set the AC lower than 78 in the summer, my husband would wonder if I’d gone mad.
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Old 05-16-2018, 10:13 AM
 
Location: Boston
5,097 posts, read 1,458,847 times
Reputation: 3735
nobody is foreclosing on the US. As the old saying goes, if you owe the bank 20K and you can't pay it, you're in trouble, if Warren Buffet owes the bank 20 billion and he can't pay it, the bank's in trouble.
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Old 05-16-2018, 10:19 AM
 
947 posts, read 459,197 times
Reputation: 936
Quote:
Originally Posted by TimAZ View Post
In modern economics, debt = money. There is no way to "pay off the debt" because that would shrink the supply of money and cause serious deflation. Deficit spending by governments is a different problem, and yes they should stop that nonsense but since the bill is on the backs of the little people, most pols don't care. The saddest thing in the world is a politician with no money to spend.

Could JFK's idea work in 2018?


"Mr. Kennedy challenged the government of money by challenging the two most successful vehicles that have ever been used to drive up debt - war and the creation of money by a privately-owned central bank."


John-F-Kennedy.net - JFK, The Federal Reserve And Executive Order 11110 by Cedric X
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Old 05-16-2018, 11:43 AM
 
8,293 posts, read 3,458,668 times
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Quote:
Originally Posted by JonasW View Post
There's no money in paying off the debt though the country would be better off.
Why better off?
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Old 05-16-2018, 11:46 AM
 
8,293 posts, read 3,458,668 times
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Quote:
Originally Posted by skeddy View Post
nobody is foreclosing on the US. As the old saying goes, if you owe the bank 20K and you can't pay it, you're in trouble, if Warren Buffet owes the bank 20 billion and he can't pay it, the bank's in trouble.
Sorry this does not compute for me.

The Federal Gov't is both the bank, and the borrower.
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Old 05-16-2018, 11:57 AM
 
9,094 posts, read 3,711,228 times
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Quote:
Originally Posted by Hoonose View Post
Sorry this does not compute for me.

The Federal Gov't is both the bank, and the borrower.
the ranters dont realize most of the debt is held by the US and spent on US citizens, they hear about "foreign held debt" aka china, and think that is the entire debt
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Old 05-16-2018, 12:00 PM
 
9,094 posts, read 3,711,228 times
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Quote:
Originally Posted by Northern Maine Land Man View Post
People bought bonds with yields of 0.3%. If Dave bought a $10,000 bond, that bond will yield $30 per year in interest.

Now the government os selling bonds with a yield of 3%. That bond will yield $300 per year in interest. Which bond would you rather have? How much could Dave sell his $10,000 bond for? Who today would want a bond that yields 0.3%?
dave didnt buy the 0.3% bonds to grow money... he did it to keep it from decreasing... did his amount decrease if some other bond went up?

stop trying to force investment reasons into something that isnt an investment

same reason buffet buys 100 year put options, he has a hedge against drops and can afford the "insurance" premiums of the option
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Old 05-16-2018, 07:08 PM
 
2,621 posts, read 2,027,509 times
Reputation: 4761
Quote:
Originally Posted by skeddy View Post
nobody is foreclosing on the US. As the old saying goes, if you owe the bank 20K and you can't pay it, you're in trouble, if Warren Buffet owes the bank 20 billion and he can't pay it, the bank's in trouble.
Exactly.

We will just change the rules of the game, along with a lot of other countries doing the same thing right beside us.

If the USA is in trouble, the whole world is in trouble.
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Old 05-16-2018, 08:30 PM
 
Location: midvalley Oregon and Eastside seattle area
2,930 posts, read 1,351,301 times
Reputation: 2437
Not if We continue to cut taxes when the economy is good and at full employment.
Whatever happened to the Tea Party?
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