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Who do we really owe this debt to? We, the USA, is still the most powerful country on Earth, financially, culturally, and militarily....whom do we owe?
And if every other major country, like those in the EU, are also in debt, then how can anyone owe anyone else if everyone is in debt? Do we owe each other? How can a nation that is monetarily sovereign: that prints, disperses, and regulates its own money supply not have enough of it to pay its bills? Certainly I understand the basics of economics: the more money there is, the less its worth (inflation), and that money needs to be supported and used on the exchange of real goods and services, the development and trade of real goods and services (GDP) being slow today (part of the recession), but whom do we owe money, that we create and control, to?
Not too long ago, in a debate over the state budget in California, one politician (I forgot his name) said, "Washington can print money. We can not. We must live within our means." Most entities must live off of money they bring in, the federal government prints that money.....who or what are we in debt to? Who or what can try to collect on that debt? And so what if they did?
Who do we really owe this debt to? We, the USA, is still the most powerful country on Earth, financially, culturally, and militarily....whom do we owe?
And if every other major country, like those in the EU, are also in debt, then how can anyone owe anyone else if everyone is in debt? Do we owe each other? How can a nation that is monetarily sovereign: that prints, disperses, and regulates its own money supply not have enough of it to pay its bills? Certainly I understand the basics of economics: the more money there is, the less its worth (inflation), and that money needs to be supported and used on the exchange of real goods and services, the development and trade of real goods and services (GDP) being slow today (part of the recession), but whom do we owe money, that we create and control, to?
Not too long ago, in a debate over the state budget in California, one politician (I forgot his name) said, "Washington can print money. We can not. We must live within our means." Most entities must live off of money they bring in, the federal government prints that money.....who or what are we in debt to? Who or what can try to collect on that debt? And so what if they did?
The United States is very near $3 trillion in debt to the Social Security fund. I guess you really believe the media when they go along with Obama talking about entitlements like Social Security never paying any attention to how much SS is owed by the US Treasury.
I wonder when anyone thinks that printing paper money is a good thing. As you get more paper money and it becomes worth less because of that you end with up more and more inflation. Hard for left leaners to understand, I think.
I believe that about 1/4 of our debt is to China, also. I had to rep you for your answer even though you failed to get China into the mix. Few people have any idea that US bonds are nothing but debt.
I believe that about 1/4 of our debt is to China, also. I had to rep you for your answer even though you failed to get China into the mix. Few people have any idea that US bonds are nothing but debt.
China would fall into the public investor category.
The United States is very near $3 trillion in debt to the Social Security fund. I guess you really believe the media when they go along with Obama talking about entitlements like Social Security never paying any attention to how much SS is owed by the US Treasury.
I wonder when anyone thinks that printing paper money is a good thing. As you get more paper money and it becomes worth less because of that you end with up more and more inflation. Hard for left leaners to understand, I think.
???? Why do you think I am Lefty? I never said anything about Obama or SS. I actually lean to the Right on most issues, and all my other posts and comments on this board shows that. I understand about inflation, but aren't there ways to combat it? What I want is for the US to have economic independence...and never owe anyone or anything for any reason.
And to subsound : I was hoping there would be a professional economist that is a member of this message board. I can look it up myself just fine, and one way was asking those knowledgeable about it here. If you can't answer, why respond? I also wanted to start a discussion about it here.
???? Why do you think I am Lefty? I never said anything about Obama or SS. I actually lean to the Right on most issues, and all my other posts and comments on this board shows that. I understand about inflation, but aren't there ways to combat it? What I want is for the US to have economic independence...and never owe anyone or anything for any reason.
Everyone who is an millimeter to the left of Roy's extreme right (and very bizarre) views is a lefty.
He's a 79 year old janitor, don't expect that to change.
Quote:
Originally Posted by cmforte
And to subsound : I was hoping there would be a professional economist that is a member of this message board. I can look it up myself just fine, and one way was asking those knowledgeable about it here. If you can't answer, why respond? I also wanted to start a discussion about it here.
I never said anything about either of our levels of knowledge in it, and I'm well educated and experienced in it. The thing is that there is a very good reason that people get paid to teach people about subjects. I don't see why everyone else must spend hours doing it here when you won't spend 15 minutes even doing the basic leg work to understand the nature of the topic. No student that actually wants to learn about the subject would be too lazy to crack open a book, or type the term into Google and read about it.
If you want to start a discussion, start a discussion instead of JAQing off or begging the question...which is a god awful annoying thing tin foil hatted loony's do over and over about the target of their OCD. I'm not sure about other people, but I am so sick of it I wish I could cause an electric current to arc across the keyboard of the next person who makes a 9/11 JAQing off thread.
Everyone who is an millimeter to the left of Roy's extreme right (and very bizarre) views is a lefty.
He's a 79 year old janitor, don't expect that to change.
I never said anything about either of our levels of knowledge in it, and I'm well educated and experienced in it. The thing is that there is a very good reason that people get paid to teach people about subjects. I don't see why everyone else must spend hours doing it here when you won't spend 15 minutes even doing the basic leg work to understand the nature of the topic. No student that actually wants to learn about the subject would be too lazy to crack open a book, or type the term into Google and read about it.
If you want to start a discussion, start a discussion instead of JAQing off or begging the question...which is a god awful annoying thing tin foil hatted loony's do over and over about the target of their OCD. I'm not sure about other people, but I am so sick of it I wish I could cause an electric current to arc across the keyboard of the next person who makes a 9/11 JAQing off thread.
I forgot to tell you that I actually did do research, a lot of research, on this subject before asking. The only answer I could get is that we can't print enough money to cover our debts because printing more money creates inflation, which I already know. But again, there must be away to never be in debt, never owe anyone and still prevent inflation.
What I want is an economically self-suffeceint and independent USA that doesn't have to depend on central banks, both foreign and domestic, which are prettty much the same now, or on private investers, especially foreign ones.
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???? Why do you think I am Lefty? I never said anything about Obama or SS. I actually lean to the Right on most issues, and all my other posts and comments on this board shows that. I understand about inflation, but aren't there ways to combat it? What I want is for the US to have economic independence...and never owe anyone or anything for any reason. 
