Quote:
Originally Posted by bbnetworking
Govt can print money, to pay off the debt. The concern, they will be diluting all the Assets. As long as everyone has faith and trust in US govt, we should do fine.
China has 250% of national GPD in debt, we only have 80%.
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This fiction, this lie supported by those Con-Men who call themselves "Economists" that Government can print money to pay off debt indefinitely is going to cost us all.
The last 16 years are defying history, largely because of the FED. Now the question is: did the FED FIX the system? Or did they delay the necessary? If they only delayed it, then we have problems ahead. One of the things we needed to do during this past No Growth Cycle (2001-Present) is carve our DEBT DOWN. We did not do this. In 2001 we had TOTAL DEBT TO GDP of about 300%. Today we have about 371%. In 1932 we had 280% TOTAL DEBT TO GDP and it took us about 15+years and a World War and a Gret Depression to get us back to GROUND ZERO, about 150%. IF 150% total debt to GDP is really GROUND ZERO, then we have 220% to eliminate.
If debt really DOES NOT MATTER, as our leaders and some Con-Men Economists tell us, then ignore what I say. If debt does matter, then ignore what our leaders and Con-Men Economists are saying.
In my mind DEBT is the biggest crisis we fact as a world; Lunatic Islam is second; and Global Warming is way down the road, about tenth.
If we had survived a Great Depression from 2001-PRESENT, lowered our debt, reinforced our currency, lowered prices of everything, then we would be ready for REAL ORGANIC ECONOMIC GROWTH now, today. Instead of destroying debt, we chose to protect it with lower interest rates, and simulate of fake economic growth with debt. We haven't fixed our economy, we haven't avoided anything, we just delayed Great Depression.
Remember, real economic growth can't happen again unless we allow Deflation and Depression to do its job first and take us thru Dark Forest where we all will meet our God again and learn the hard way that DEBT DOES MATTER!!!!!
This period from 2001-PRESENT will be remembered as a Greatest Theft of Public Money that the World has ever seen. Period where Con-Men, Shysters and Thieves were flourishing, where these people together with Debtors (who are typically Losers during normal times) became so called winners.
Complete madness and insanity!!!!