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The debt based currency is what keeps society working on behalf of the u.s government. Currency is a tool.
With debt based money, debt is money and money is debt. In this way, the debt plus the interest in a systemwide basis can never be paid back because there’s not enough money in existence to do so. Debt will always be increasing. This creates incentive for society to run on the treadmill indefinitely. It’s a manmade system literally doing it’s job.
It’s why the debt howlers don’t understand anything. For one thing they always ignore assets, and secondly they ignore that 30 trillion of debt is due on a rolling basis over decades. If our economy is 22 trillion per year, we can easily service that debt overtime because that’s 22 trillion over and over and over. Over 30 years that’s 500-600 trillion of income.
The FED is the serpent eating it’s own tail. “credit has done more to enrich man kind than every gold mine on earth. It’s stimulated manufacture and pushed commerce over every sea”
What you call worthless, many (or at least me) would call the most powerful non nuclear “weapon” or asset that the United States has. The USD.
This paradigm is tragically absurd, phenomenally destructive, stark raving mad, and terminally unsustainable.
Perpetual economic growth and debt expansion is impossible in a finite realm.
If you believe otherwise, you are either a drooling idiot, a raving lunatic, or a mainstream economist.
This paradigm is tragically absurd, phenomenally destructive, stark raving mad, and terminally unsustainable.
Perpetual economic growth and debt expansion is impossible in a finite realm.
If you believe otherwise, you are either a drooling idiot, a raving lunatic, or a mainstream economist.
You misspelled eCONomist.
I'd augment that comment with this - - - since 1933, the CONgress will not redeem their IOUs (federal reserve notes), but they're LEGAL TENDER.
Most do not know how that could be possible, since only a creditor on a note is compelled to accept it in lieu of lawful money in discharge of debt.
. . . .
Why is it legal tender for YOU?
...
CONTRIBUTION - ... The share of a loss payable by an insurer when contracts with two or more insurers cover the same loss... The sharing of loss or payment among several...
--- Black's Law Dictionary, Sixth Ed., p. 328
...
Every enumerated "contributor" under FICA (Federal Insurance CONTRIBUTIONS Act) is equally liable for the public debt, making "dollar bills" into legal tender. Hence you cannot object to their tender.
And participation in FICA is 100% voluntary. NO law compels participation. NO Law punishes nonparticipants.
In other words, to paraphrase Soylent Green, "Dollar bills are people."
The 330+ million "contributors" are obligated parties on the impossible to repay national debt.
And you can imagine what would happen if 10% withdrew consent... or 20% ... or 50% ... or 97%.
Oh, and if you thought FICA was “insurance” for you, oops x 2.
In two important cases, Helvering v. Davis and Flemming v. Nestor, the U.S. Supreme Court ruled that Social Security taxes are simply taxes and convey no property or contractual rights to Social Security benefits. Benefits are public charity at the sole discretion of Congress.
"Federal Reserve notes are "backed" by all the goods and services in the economy."
...
Did Congress ever mention that YOU were “human resources” pledged as a surety on their profligate spending?
As long as you consent, no harm - no foul.
DO NOT BELIEVE ME - GO READ THE LAW YOURSELF. IT'S AVAILABLE IN ANY COUNTY COURTHOUSE LAW LIBRARY.
Mathjak - a lot of people don't have 30-40 years to live. Even 5 years would not work well. Who wants to be in their 60's/70's waiting 5 years for stocks to recover (unless they only invest money they will never use/need).
Mathjak - a lot of people don't have 30-40 years to live. Even 5 years would not work well. Who wants to be in their 60's/70's waiting 5 years for stocks to recover (unless they only invest money they will never use/need).
More nonsense .
A 40/60% equity / fiixed income portfolio has a 96% success rate over a 30 year retirement at a 4% draw
A 50/50 portfolio has never been down in any 10 or 20 year period .
Fixed income with less than 25% equities has failed to last at 4% inflation adjusted it has failed so many times already it is considered unsafe and requires a 25% cut in pay to get its success rate up .
You can hide under a rock and make inefficient use of your money by fearing equities but please dont spread your fear mongering to others .
There are fine funds like wellesly income which have served retirees well for many decades …it is 40% equities…
There are many conservative port which are perfect for retirees
Stop running on what you think and learn facts
Last edited by mathjak107; 02-04-2022 at 01:06 PM..
A 40/60% equity / fiixed income portfolio has a 96% success rate over a 30 year retirement at a 4% draw
A 50/50 portfolio has never been down in any 10 or 20 year period .
Fixed income with less than 25% equities has failed to last at 4% inflation adjusted it has failed so many times already it is considered unsafe and requires a 25% cut in pay to get its success rate up .
You can hide under a rock and make inefficient use of your money by fearing equities but please dont spread your fear mongering to others .
There are fine funds like wellesly income which have served retirees well for many decades …it is 40% equities…
There are many conservative port which are perfect for retirees
Stop running on what you think and learn facts
Jeremy Grantham and a few others disagree with you right now.
I thought the Unabomber was in Jail? Ted, I did read your manifesto. Very insightful. Thanks for never actually sending me that bomb. Guess the FBI got you just in time.
Jeremy Grantham and a few others disagree with you right now.
Who cares what he predicts …he has called things wrong more than right
Drops are all part of the cycle and always have been even at 65 there is money one isn’t going to eat with or use for expenses for as much as two decades more , that needs to stay a head of inflation.
No one should ever base their investment plan on the crystal ball of anyone.
He also said said in November 2010 that he thought the Fed was creating a bubble and that stocks could "crack" in 2011 or 2012. Since then, S&P 500 has risen more than 260%.
He said in January 2018 that "we are currently showing signs of entering the blow-off." The S&P 500 has since rallied 60%
Grantham repeated his bubble warnings in June 2020 and in January 2021. Last week, he said the S&P 500 is likely to plunge almost 50%.
Most strategists think he's wrong about that and are still predicting gains for global and US stocks in 2022, mainly because they believe economic growth and so corporate earnings should remain strong.
The truth is he DOES NOT KNOW WHAT IS COMING AND NEVER DOES
Last edited by mathjak107; 02-05-2022 at 01:35 AM..
I post over on peakoil.com, so I know a little bit about some of this stuff. I don't think peak oil will crush everything. Before we had the wherewithal in place for the electric alternative, though, it might have done. The timing was not that far off, you know, maybe the peak hits in 2060. In terms of world resources and geological timing, which determines so much about oil, that isn't much of a difference. I think we were lucky to avoid the problems OP was worried about. I'm not going to criticize OP, therefore, even though I don't agree.
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