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I do, but if you viewed the video, you will see that "public" debt means nothing at all. It's only private debt that is a problem...
Right - like I get my ideas from Dennis Kucinich's economic advisor. Although he does have some good kind of behind the times ideas in terms of current liberal thinking. He actually seems to think you shouldn't be able to buy a house unless you can make a really big down payment!
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If the government owes itself money--as in borrowing from social security--it can just print more money to pay for it. Some folks say that it will cause inflation--but that's the way we've been paying for the "skyrocketing" debt for the past few years and there is no hyper inflation taking place.
Parties continue until they stop. Sometimes rather abruptly. Also - inflation happens in different ways. The USDX is down 20% in the last 12 years. That means the dollar is worth 20% less in terms of our world trading basket purchasing power. Isn't that inflation by another name? Robyn
P.S. I'm not even taking into account all the hedonic adjustments to the CPI and similar garbage (like substitutions - if beef - even ground beef - gets too expensive - let's just put chicken legs into the CPI - like a chicken leg is a good substitute for a burger - much less a steak).
I do, but if you viewed the video, you will see that "public" debt means nothing at all. It's only private debt that is a problem.
You're wrong as usual. You don't even understand the correct terminology. Your National Debt consists of two components, the Public Debt, and the Intragovernmental Holdings...as of 11/14/2013...
Public Debt: $12,239,536,150,493.21
Intra-Governmental Holdings: $4,943,780,792,732.31
Total Debt: $17,183,316,943,225.52
I looked on Yahoo!Answers and searched BigDaddyG's threads but couldn't find any info on National Debt, so I had to use what you call an "unrecognized source."
The Intra-Governmental Holdings consist of the OASI, OADI, HI, SMI, Railroad Worker's Retirement, EPA Super-Fund, Black-Lung, and other Trusts, such as the government pension plans.
The Public Debt consists of treasury notes sold to foreign States, US and foreign banks, US and foreign investors, US State, city and county pension funds, union pension funds, corporate pension funds, annuities, money markets and other investors.
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Originally Posted by Wardendresden
If the government owes itself money--as in borrowing from social security--it can just print more money to pay for it.
It doesn't work that way. Intra-Governmental Holdings are liabilities owed to the American people, that you care nothing about.
"Treasury special securities are an asset to the OASI and DI Trust Funds and a liability to the U.S. Treasury. Because the OASI and DI Trust Funds and the U.S. Treasury are both part of the Government, these assets and liabilities offset each other for consolidation purposes in the U.S. Government-wide financial statements. For this reason, they do not represent a net asset or a net liability in the U.S. Government-wide financial statements.
When the OASI and DI Trust Funds require redemption of these securities to make expenditures, the Government finances those expenditures out of accumulated cash balances, by raising taxes or other receipts, by borrowing from the public or repaying less debt, or by curtailing other expenditures."
Where does it say "print mo' money?"
It doesn't, and you can print all the money you want, but you still must "...finance[s] those expenditures out of accumulated cash balances, by raising taxes or other receipts, by borrowing from the public or repaying less debt, or by curtailing other expenditures."
It is incredibly amazing that you adamantly claim to be an "actuary" (and I use the term loosely in an attempt not to insult real actuaries), yet you can't even grasp the concept of Unfunded Liabilities.
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Originally Posted by Wardendresden
Some folks say that it will cause inflation--but that's the way we've been paying for the "skyrocketing" debt for the past few years and there is no hyper inflation taking place.
That is completely false. Had you calculated the Coefficient of Absorption as I did and then informed forum members here on C-D back in 2010 as I did that the Global Economy can handle $9 TRILLION to $13 TRILLION excess US Dollars, then you wouldn't be making such ignorant statements about Inflation.
As I said, at current rates, Real Inflation will not set in until about 2025 or so (best estimate) with Real Inflation running at 35% to 45% annually which is worse than the Real Inflation of post-WW I Era, but not as bad as the Civil War/post-1st Great Depression of the 19th Century period.
Note that you can have Cost Inflation (Cost-push/Demand-Pull) running on top of that. I cannot forecast that, since it depends heavily at the rate of developm
LOL - I can't resist. If we were writing a check for this number, this is how it would read:
Quote:
Seventeen Trillion One Hundred Eighty Three Billion Three Hundred Sixteen Million Nine Hundred Forty Three Thousand Two Hundred Twenty-Five and 52/100 Dollars
Last edited by Ariadne22; 11-16-2013 at 06:10 PM..
LOL - I can't resist. If we were writing a check for this number, this is how it would read:
I keep this piece around for occasions like this.
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Counting to a trillion: Think eons, ages, epochs
Quote:
Jay Hancock Baltimore Sun (May 4, 2011)
The national debt is $14 trillion. That is a lot of money. Even a trillion is a lot of money. I learned
how much after reading this calculation by former math teacher Edward Hopkins, husband of my
colleague Jamie Smith Hopkins. You could win trillions of bar bets by asking: How long would it
take to count to a trillion?
How much is a trillion?
It's not easy to understand large numbers like billions and trillions,
yet we hear about them all the time when people are discussing the economy.
What would happen if you tried to count to one trillion out loud? Assuming five syllables per second
and accounting for the fact that larger numbers have more syllables, I came up with an estimate.
Counting to 10 will take two seconds.
You will reach a hundred in about one minute.
After 18 minutes you will hit a thousand. To get to a million takes 700 hours.
Now we're getting to the point where the time is getting too large to easily comprehend.
Let's make counting a full-time job of eight hours a day, five days a week, 50 weeks a year.
Counting to a million would take about 18 weeks, or from January to the first week in May.
To reach 10 million would require four years of counting.
If you started young and retired after 48 years of counting, you'd be at 100 million.
To continue we're going to need new counters to carry on the project.
If we employ each person for 50 years, we'll need a succession of 10 more people
for a total of 11 lifetimes just to count to a billion.
Archaeologists believe the human race invented counting about 50,000 years ago.
Counting to a trillion would take 15 times longer than that. Source:
The nations you mentioned which are all "going bankrupt" are ones which refuse to print additional monies--to hold the line, so to speak, on their economies.
Refuse to print additional monies?
So, which part of the European Union central bank and Euro do you not understand?
Only the EU central bank can effect policies pertaining to the money supply.
How is Greece going to print Euros, when Greece has no authority to do so?
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Originally Posted by Wardendresden
Now private debt is a problem. Private debt is money that has to be paid back,....
Hey genius....
Public Debt: $12,239,536,150,493.21
...that Public Debt is privately held debt.
Quote:
Originally Posted by Wardendresden
For every $500 billion in social security "debt" the economy benefits to the tune of about one trillion dollars added to the economy--
Since you don't have any credibility, we're going to need a source for that....and not Yahoo!Answers or BigDaddyG.
Quote:
Originally Posted by Wardendresden
The economy shrinks when people fail to buy. It expands when they do buy.
That is incorrect on a number of levels, but suffice to say that Recessions are caused by the inefficient use of Capital.....even in Socialist and "Communist" States.
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Originally Posted by Wardendresden
Under which President has the annual deficit SHRUNK....
Couldn't resist with a Red Herring......the Budget Deficit is not the same as the National Debt, but nice try attempting to confuse and mislead people.
Quote:
Originally Posted by Wardendresden
And this is why talk of health care reform bankrupting the nation with additional costs is simply overblown.
You're the one who said Michigan is refusing to print more money to bail out the City of Detroit.
The ACA is a massive misguided misdirection of money into one of the most inefficient sectors of the economy.....healthcare.
Quote:
Originally Posted by Wardendresden
Review all the charts in the link, they show an unmistakable pattern in recent years. As the author states:
I'll be your hero Mr. Wizard on Useless Tube never showed you a chart like this....and notice the unmistakable patterns......
So, which part of the European Union central bank and Euro do you not understand?
Only the EU central bank can effect policies pertaining to the money supply.
How is Greece going to print Euros, when Greece has no authority to do so?
Hey genius....
Public Debt: $12,239,536,150,493.21
...that Public Debt is privately held debt.
Since you don't have any credibility, we're going to need a source for that....and not Yahoo!Answers or BigDaddyG.
That is incorrect on a number of levels, but suffice to say that Recessions are caused by the inefficient use of Capital.....even in Socialist and "Communist" States.
Couldn't resist with a Red Herring......the Budget Deficit is not the same as the National Debt, but nice try attempting to confuse and mislead people.
You're the one who said Michigan is refusing to print more money to bail out the City of Detroit.
The ACA is a massive misguided misdirection of money into one of the most inefficient sectors of the economy.....healthcare.
I'll be your hero Mr. Wizard on Useless Tube never showed you a chart like this....and notice the unmistakable patterns......
Charting...
Mircea
I'm pretty sure that sums nearly all of it up. It's effectively E = MC2 but I like A = HC2 Where H = Handed and A = Ass and C is still the speed of light.
In other words, ass was/is/will be handed for now and forever to Wardendresden.
Originally Posted by Wardendresden View Post
First medicare ain't broke. You got anyone on medicare that will attest to their bills going unpaid and they received a bill? I didn't think so. Therefore it ain't broke. If it was broke it would quit paying, but the government just prints another 500 million dollars to pay for everything...
So if all you have to do is PRINT MONEY to pay for things, why did we need Obamacare? And why is the government cutting medicare? And why was money taken from the medicare bucket to subsidize Obamacare?
If it's all fake money and your point is just pass the debt down to future generations, then it's just a matter of principle. Pay for everything people want now and let everyone else worry about paying for them or pay it "later".
Just like Progressives have been doing since this concept started here, 100 years ago.
I'm waiting for strangers to approach me on the street and make their case for why I SHOULD pay their groceries, gas, car payments, rent etc. It's the same thing but nobody would have the nerve if they had to REACH INTO MY WALLET. Oh wait. They already do that, then go to jail.
Why would anyone who is currently not directly paying for something want to consider a new system, that might cost them something.
Well first of all you aren't addressing what we would LOSE with that form of healthcare. But that's another story.
People are keenly aware of the value of their benefits when accepting a job. It is another form of COMPENSATION.
I chose my career and stayed there in part FOR THE BENEFITS. I had OPTIONS to go elsewhere and make more in simple salary. I GAVE UP that salary, as did UNIONS in EXCHANGE for benefits. Some years we gave up COLA for keeping our benefits. Every year my company printed out the MONETARY VALUE of each of our benefits to burn it into our brain. And those benefits also were lower cost than street value of me having to purchase them myself independently.
Your point is better suited, IMO to people who have NOTHING TO LOSE.
Why would anyone who is getting government healthcare vis a vis other people paying for them, CARE about those of us losing OUR healthcare? Or the costs and reasons to bring costs down? Or fraud? Or mismanagement? They have no stake in it whatsoever.
They DON"T CARE. As we have seen. Even when shown, the partisan view is "So what, we got our Progressive milestone accomplishment."
The point is the BIG LIE has been uncovered. "If you like your plan you can keep your plan. PERIOD." (and 30 iterations of the same foundation)
That's the ONLY WAY Obamacare was enacted. And given their lying and complete inability to roll it out and pretending they are OH SO SHOCKED about everything...after three years just proves that government is a mess.
I had to LMAO when Obama said "it's hard" "sometimes people have to go through 40 pages of requrements" "oh we're going to have real people use the system and tell us what they like and don't like".
HAHAHAHAHAHA Anybody who has worked in IT knows that everything he said is the nursery school version of system development and user interface. Hilariously once again proving he never ran anything in his life or was just shuffling words in the speech that only the most naive or partisan person would accept.
What about the bogus statement that insurance companies can just run DUAL SYSTEMS for DUALING competitive offers, at the flip of a switch, after CANCELLING people blah blah blah? OH and for just a year. Whether that was political COVER or just stupidity is irrelevant. It just proves government cannot be trusted - most of them are too corrupt or clueless.
The FIRST reform we need is GOVERNMENT reform, starting with term limits. The way our healthcare system got screwed up to BEGIN with was government control - it has not been a free market system for a very long time - if EVER.
Why can't I buy insurance from another state? A SIMPLE CONCEPT. Oh - just like Amazon and Travelocity LOL.
Last edited by runswithscissors; 11-17-2013 at 07:31 AM..
Why can't I buy insurance from another state? A SIMPLE CONCEPT. Oh - just like Amazon and Travelocity LOL.
A couple of states tried it. GA I think was one. Nothing came of it.
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