$ 22 trillion in debt - what now liberals?

[hawkeye2009]

Originally Posted by gwynedd1

English is capitalized. Some people desperately turn to spelling and grammar to try and win an argument. They often embarrass themselves butchering it likewise like you did. My excuse is haste and ambivalence. I surprised I bothered. You obviously care and butcher it. -English - not english. If you are going to correct people don't hack it up. Stop embarrassing yourself.



Did you make a product or service?




Its gibberish not jibberish.

No, it doesn't because credit creation is not automatically a ponzi scheme. What ever money is printed to build real industrial capital increases the value of currency. Hoover damn puts the lights on. The DARPA project makes this site possible since the Internet was a defense project. That launched things like Google, Amazon, Ebay, Cisco . Now I can understand the way banks work people think differently because they create junk, usurious loans that you and Benny B want to do all over again. Unproductive finance loaning into real estate and into newly privatized public works like parking garages in Chicago must end. Its passive wealth collection, and its a third of our economy. With all the FIRE sector leaches its no wonder we can't compete. How can a 1000 a month rent coconut producing island compete with a no rent island of the same productivity?

There is no debt. Its money. Governments print money. Debt is money any way you slice it of course, but it can never be fully paid back and it isn't meant to be.

Again if you are so concerned about dollar strength( in a currency war for Pete's sake where the game is devaluation) then raise interest rates. You have no problem it seems allowing banks to ruin the currency for real with housing ponzi.

Debt is "baked into the cake" of modern western economies and not all debt is supposed to be paid off. However when debt levels increase to dangerous levels, which is a function of debt to GDP and percentage of debt held by citizen, the risk of marked currency devaluation and hyperinflation results. You say this cannot happen, as we are in a relative deflationary cycle. This reveals your ignorance of what items are no longer included in inflation calculations and ignores similar economies in a relative deflationary state( Zimbawe, Weimar Republic, and the Ottoman Empire).


If you are so brilliant regarding economics, why am I rich and you are not?

[le roi]

Originally Posted by hawkeye2009

If you are so brilliant regarding economics, why am I rich and you are not?

how do you expect anyone to know anything about your life ? for all i know you're living in a cardboard box underneath a bridge. or maybe you inherited an oil well.

However when debt levels increase to dangerous levels, which is a function of debt to GDP and percentage of debt held by citizen, the risk of marked currency devaluation and hyperinflation results.

we're nowhere near that level.

[gwynedd1]

Originally Posted by hawkeye2009

Debt is "baked into the cake" of modern western economies and not all debt is supposed to be paid off. However when debt levels increase to dangerous levels, which is a function of debt to GDP and percentage of debt held by citizen, the risk of marked currency devaluation and hyperinflation results. You say this cannot happen, as we are in a relative deflationary cycle. This reveals your ignorance of what items are no longer included in inflation calculations and ignores similar economies in a relative deflationary state( Zimbawe, Weimar Republic, and the Ottoman Empire).


If you are so brilliant regarding economics, why am I rich and you are not?

I am ignorant? I look at employment. Where are you looking? My idea deflates assets so where is the "inflation". Are you just congenitally unable to understand the concept of raising interest rates? I have said it over and over again. You say you want a strong dollar and you act like ZIRP does not exist. I have no intention of growing the money supply significantly . I have the intention to replace the money supply composed of bank credit and their ponzi schemes, bloating asset prices. State credit is free; bank credit pays Wall Street a subsidy for nothing.

What do you mean by rich? I am upper middle class and for my age group near the 90%. I have averaged about 20% returns since 2000. If I had any seed money I guess I would be well into the mid 90%. When you have money is not hard to get richer. Its actually pretty easy.


Looks to me you want to change the subject again because you are having trouble justifying taxes on the productive economy while other people squat on the real estate.

I am not even going to get into your silly cliche` examples of hyperinflation that had nothing to do with fiscal policy.