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Originally posted by blah yada
Originally posted by Eurisko2012
reply to post by sheepslayer247
I'll explain it to you November 7, 2012.
No time like the present, go on ,explain it.It sounds like you're stumped and are stalling for time.
Originally posted by sheepslayer247
reply to post by Eurisko2012
So......you were talking out of your backside and you are making claims that are untrue?
You don't even know what Romney would do?
edit on 12-9-2012 by sheepslayer247 because: Trying to be nice.......
Originally posted by anon72
Great thread Jib.
Unfortunately, the "poor" and illegals are out getting illegally registered to vote or ID's etc....
A bit too late, I am afraid.
I hope you all prepped.
Originally posted by mauricio
1. If the debt is denominated in US dollars, there's no way the US is going broke.
2. There's no OPERATIONAL limit for the US when it comes to spending its own US dollars.
3. The US marks up the accounts of the US debt creditors when payments on the debt are due.
4. The US will never run out of US dollars. That's just impossible.
5. The debt ceiling is a POLITICAL arrangement. It is a self-imposed constraint. It has been adjusted several times.
6. If we were on the gold standard, the US could run out of gold. But we are not on the gold standard.
7. Japan's national debt amounts to 196% of its GDP. That debt is denominated in Japanese yen. Japan will never go broke if the debts concerned are denominated in yen. It can, however, run out of US dollars and thus have a hard time importing stuff. But it'll never run out of yen. Japan can owe (in yen) 1000% of its GDP if it chooses to. The size of the national debt - and the size of government for that matter - is always a POLITICAL choice. This choice is usually made by the ruling elite. There's no such thing as running out of your own national currency. "They" know it.
8. The more important thing is who owns the debt. The size of a country's national debt, provided it is denominated in the money that is accepted to pay taxes in that country, is a never a solvency issue. The national debt can be huge or tiny; the elite chooses how large or small it'll be.
9. When the elite wants to control upward social movement (that is their "default mode" - it's all they care about), they load the private sector with debt. They even load their own banks with debt in the process. They know their banks will be bailed out later, because they understand that the US government can't run out of US dollars.
10. When the elite can't squeeze the people any longer, they revert to sucking on the government. When the elite can't just keep sucking financial resources out of you, because you don't have disposable income (all those student loans, credit cards, housing and insurance payments just can't grow any more or there is the possibility that these debts are not going to be paid), they revert to sucking money out of the government.
11. The elite only resorts to quantitative easing and similar tactics when it can't make the people poorer. All the elite cares about is increasing social polarization. Money is just one of the tools used for this end. They'll try doing this until there are two species of human beings. Then their great work will be crystallized. But that is another topic, one that I'm sure you all know a lot about.
12. The US is the only country in the world whose external and internal debt are both denominated in US dollars. The US is different from all other countries when it comes to monetary sovereignty. The fact that the US "chooses" to use this exorbitant privilege to increase social polarization and benefit the rich instead of using it to advance public purpose is a different issue. The US is an amazing wealth extraction tool, as are almost all other countries. The US is just a more powerful tool. A proper tool for great works.
13. Eurozone countries are like US states; they are currency users, not currency issuers. They are not sovereign when it comes to money. They are all external debtors (Germany included). Only the ECB can spend euros limitlessly. Spain, Portugal,Grece, Germany and all other eurozone countries are operationally limited when it comes to spending euros. They have to earn before they spend, or borrow to cover debts. They can't just credit accounts like a central governement that issues its own currency can.
14. Almost all currency isssuers run governement deficits almost all the time. The only way to run a government surplus and increase private savings is to have an external surplus. This is a matter of national accounting and is not subject to opinion. The sectoral balance equation [(S – I) = (G – T) + (X – M)] is undeniable. Please understand this chart:
Originally posted by Morg234
Well, that's a good one. Barely over 100% GDP? If only.
I know that plenty of American financial theorists and banksters have had laughable Nobel Prizes in Economics chucked at them ad infinitum, but I'm pretty sure even in that case the US Economy is in a much more sorry predicament.edit on 12/9/12 by Morg234 because: (no reason given)
Originally posted by jibeho
Do the math folks!! We're officially busted!! Remember that when you go to the polls in November.
According to the most recent official estimate by the federal Bureau of Economic Analysis, the Gross Domestic Product for 2012 will be $15.6061 trillion--or about $440.5 billion less than the $16.0466 in debt that the federal government had accumulated as of the close of business on Monday.
The BEA, which is part of the Department of Commerce and which officially calculates GDP, based its current estimate of this year's GDP, published on Aug. 29, on economic data available through the end of the second quarter of this calender year.
Wow! Put you mind around this
If that current estimate is correct, the debt of the United States government eclipsed the value of the Gross Domestic Product of the United States on April 2 of this year.
BTW That's NOT a good thing!!!! We have exceeded the tipping in this nation and its only going to get worse!!!
edit on 11-9-2012 by jibeho because: add source
Originally posted by vexati0n
wow I must be SERIOUSLY underwater then. I make $80k/year and still owe twice that on my house alone, not to mention my car.
i mean, you are suggesting that annual income is supposed to be higher than all your debts combined, right?
p.s. that's dumb.