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Old 05-17-2018, 12:49 PM
 
293 posts, read 155,031 times
Reputation: 324

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Quote:
Originally Posted by hitpausebutton2 View Post
If you touch the 5k, then that is something you have to pay back with interest. Person who is paying cash will be mindful of what they purchase that they dont have to pay back with interest and can save monthy payments. So how u win?
It's a funny exercise but I'll bite. Maybe with 5k line of credit I can't do that much but if I have a 100k line of credit, I'll buy all the properties on the board and force you to pay inflated rents. Anywhere you land is my property and you have to pay rent until you are broke. How can I not win?

That's how Warrent Buffett and the likes play. Have you ever looked what essential commodity producing company Mr. Buffett not own or has a stake in? Here's a link: https://en.wikipedia.org/wiki/List_o...shire_Hathaway
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Old 05-17-2018, 12:53 PM
 
2,360 posts, read 1,026,502 times
Reputation: 2071
Quote:
Originally Posted by Bp25 View Post
It's a funny exercise but I'll bite. Maybe with 5k line of credit I can't do that much but if I have a 100k line of credit, I'll buy all the properties on the board and force you to pay inflated rents. Anywhere you land is my property and you have to pay rent until you are broke. How can I not win?

That's how Warrent Buffett and the likes play. Have you ever looked what essential commodity producing company Mr. Buffett not own or has a stake in? Here's a link: https://en.wikipedia.org/wiki/List_o...shire_Hathaway

Yea you will easly and I be homeless, because i had to help you pay off your debt.
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Old 05-17-2018, 02:39 PM
 
293 posts, read 155,031 times
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Quote:
Originally Posted by hitpausebutton2 View Post
Yea you will easly and I be homeless, because i had to help you pay off your debt.
See, that's exactly how capital works. By the way, you will not be helping me to pay down my debt. In fact, I will probably not pay down the debt at all. The rent will be used to pay the interest and the little required principal payment. I will invest the rest somewhere else, maybe as down payment to credit line on a second monopoly board. This is how leverage works.

Having said that, I understand the frustration of working people. The issue is that instead of getting their kids ready to accept the challenge, they seem to complain a lot and point fingers in all directions to figure out whose fault it is. In the mean time, educated immigrants from China and India prepare their kids to go to college.

Now I see articles that blame that too. Apparently, not only the super rich 1% that are bad people, the next 9.9% are bad too because they worked hard and are sending their kids to expensive colleges (with full tuition paid because they don't qualify for need based aid) and making them part of the meritocratic society. I'm speechless. If merit didn't make America what it is today, I don't know what did.
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Old 05-17-2018, 09:33 PM
 
3,536 posts, read 1,988,790 times
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The issue isn’t just debt repayment but the inability to issue new debt to fund current account deficits due to government spending. They will either have to print money to pay it off or default on the debt. This will cause chaos in all debt markets and kickoff massive inflation via currency devaluation.
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Old 05-18-2018, 01:40 PM
 
17,749 posts, read 15,023,452 times
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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.

Never would see posts like this 10 years ago.
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Old 05-18-2018, 02:02 PM
 
17,749 posts, read 15,023,452 times
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Quote:
Originally Posted by SWFL_Native View Post
The issue isnít just debt repayment but the inability to issue new debt to fund current account deficits due to government spending. They will either have to print money to pay it off or default on the debt. This will cause chaos in all debt markets and kickoff massive inflation via currency devaluation.

They have been printing money since they stiffed the French back in 1971. And even before then sovereign debt is a cash equivalent.

The debt is nonconvertible. Its an incontrovertible truth. The green back is evergreen , and will never see the end of the season where it falls in reds of copper , or golds of coin. The silver steaks of maturity will never over cast the ageless green beauty. it is desired and will sleep with whom it pleases with or without gilt.



Quote:
This will cause chaos in all debt markets and kickoff massive inflation via currency devaluation.
Please. To stop inflation one merely needs to raise taxes. A 10% across the board tax would utterly annihilate inflation.Take a look at what happened to Japan after the VAT tax increase.

The reason why failing states inflate the currency is because the power to create wads of cash outlasts the power to tax. Which would you be more apt to do if your lord picked at his back side and sampled his yield? If you knew his shabby government would die soon, would tend to pay taxes or more likely sell to them for cash?
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Old 05-18-2018, 08:28 PM
 
10,265 posts, read 6,491,094 times
Reputation: 10837
Quote:
Originally Posted by YuMart View Post
Obviously there is a lot of greed and corruption that hinders it, but do you think even if all of the politicians were great, honest, wholesome people, the U.S debt could ever be fully paid off? Or do you think we're too far gone and America will be destroyed before it could pay off 100% of its debt?

It's really mind boggling how much debt we are in yet we spend money worse than a teen girl who won the lottery. Uhh...Shouldn't you pay off all your debts BEFORE spending it on anything else?
The debt means nothing, If America fails the world will go into a huge depression, we are too big to fail. Money is not a real thing, it's something created by man to barter with.
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Old 05-22-2018, 06:53 PM
 
1,663 posts, read 1,065,436 times
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Of course not, instead of trying to reduce it we just keep adding more debt every year.
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Old 05-24-2018, 02:31 PM
 
Location: Oceanside, CA
1,738 posts, read 825,456 times
Reputation: 3894
Quote:
Originally Posted by Bp25 View Post
It's a funny exercise but I'll bite. Maybe with 5k line of credit I can't do that much but if I have a 100k line of credit, I'll buy all the properties on the board and force you to pay inflated rents. Anywhere you land is my property and you have to pay rent until you are broke. How can I not win?
How can you not win? Easily... once everyone is broke, they can't pay anything, and you wind up with a bunch of vacant properties. Or all of the people you completely alienated strip the houses of anything valuable and then burn them to the ground on their way out.

I wish I knew where people got these ridiculous, absurdly reductio ad absurdum ideas of what capitalism is and these nonsense scenarios like above.
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Old 05-24-2018, 02:34 PM
 
Location: Oceanside, CA
1,738 posts, read 825,456 times
Reputation: 3894
Quote:
Originally Posted by LifeIsGood01 View Post
The debt means nothing, If America fails the world will go into a huge depression, we are too big to fail. Money is not a real thing, it's something created by man to barter with.
"Too big to fail" only means something when someone who has enough money would rather invest that money in saving you than do something else with it. Everyone is "too big to fail" to their own families, but that doesn't stop an awful lot of them from failing. And there ain't nobody out there who can cover our tails... if something were to happen that suddenly made the United States' national debt due and payable tomorrow, I doubt every country on Earth working together could cover a $20 trillion+ shortfall.
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