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If someone has a dollar they may relieve you of your apple
If someone has 10 dollars they may relieve you of your lunch
If someone has 100 they may relieve you of your coat.
If someone has 1000 they may relieve you of your bike
If someone has 10000 they may relieve you of your car
If some one has 100,000 they may relieve you of your house.
If someone has 1,000,000,000,000,000
They may relieve you of your king.
You may keep your apple, lunch ,coat, bike, car and house.
Yup!!!
And it take a "sheep brain" to follow each and every demands of the "they" to lead you to your slaughter... relieving you of what ever they may partake from you.
P.S. all in the hands of a leader who is seriously giving millions USD to the Mid-East & giving only 100K to the aid our allies (Philippines during the July flood) = blood flowing out of USA.
And that evidence of "how many" credit downgrades we have had???
Plus we are at QE3??? More stimulus money the tax payers don't control going to who knows where???
Seriously, can the government now tell us where all that stimulus money go in details & "transparency"???
And one always know... should've learned from even just plain "observation".... Lawyers take money from their clients & make money from US (tax payers)...
Businessman are the ones that provides US the JOBS!!!!
Oh! my bad. I got carried away there's no oil in Africa and the people are primitive plus enthnic cleansing isn't our bag..yuck!.......nevermind.
Fair amount of Oil in and around Africa. Along with other things the Transnational Corps covet.
But so far, encouraging and enabling the locals to exterminate each other is working well.
Beautiful thing, overall.
Just gets going along a little too well from time-to-time and looks a little bad.
==============
But back to the topic -- the debt IS the Money at this point. You want to reduce the amount of money in circulation during a Deflationary Depression? That is beyond dumb.
Just set the interest rates to zero, and that even eliminates the need for endless growth (on a finite planet, no less). While ending interest and the need for growth Kills Capitalism -- better it die before it kills all of us.
What if I told an 18 year old he has liabilities of $3 million? By basic math and reasonable inflation expectations that is what his life will cost him in terms of expenses he will incur from now until his expected death around 80. How does $3M in debt look when he's making $8/hour right now? Economists can be part of the solution if they put out realistic numbers andsolutions, but when they pull the lets throw the kitchen sink out there so someone notices me they add absolutely nothing to the discourse.
Based on his "math" factoring debt-to-GNP,entitlements,fiscal gap,and many more complicated data not withstanding IMF announcing that the US is bankrupted, Mr Kotlikoff (highly respected) might be close? My mentor personally is Larry Bates and a few months ago he stated we are about 45 trillion a lower prediction, but in either case dudes and dudesses get ready for a potential roller coaster ride can you dig it ....I knew that ya could! Suggestion: downsize,food pantry,glock,duct tape.
I am definitely a deficit hawk but these numbers are exaggerated. They include things like the cost of Social Security & Medicare 75 years into the future. Nobody has to pay their bills 75 years in advance, so I think these numbers are disingenuous.
This is not to say we aren't in for a major financial reckoning. I definitely believe we are. The numbers don't need to be as big as 45 Trillion (the lower number cited) for that to be true.
Unless we implement severe austerity measures in the next several years, I think we may be facing some type of economic collapse. At the very best, we will be unfairly burdening future taxpayers. Already the average share of the national debt per person is $50,000! That's on top of the taxes they are already paying.
And although I think Romney will be a little more aggressive in cutting spending, I don't think Washington as a whole (including Congress and the Fed Reserve) is serious about addressing this issue or capable of finding solutions.
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