Everything Should Be Cut In Economic Crisis

The national debt is nothing but a loan we give to ourselves that just rolls over by issuing new debt. We will never run out of the ability to loan ourselves money and we will never run out of the ability to create or pay off debt. We simply replace the debt with debt. We can do this to infinity with no problems whatsoever (in terms of creating the debt).

 

China gave to us. China. We're in debt to a nation that also has our old manufacturing jobs.

 

China owns less than 10% of our debt. And you aren't understanding what I'm saying. If we have to pay China $1 trillion for the debt they own we simply take on $1 trillion in debt and give them $1 trillion in reserves. Would not require the private sector to do anything.

 

What if we instituted a proposal like what Sen. Tom Harkin put forth a few months ago? His bill would force the government to create a website where people could prioritize where they want their taxes to go, and the government would have to comply.

 

Right we just play a shell game with no real money and everything's fine, right? Right? What do you think this does to the value of people's currency, savings, property, etc? At what point does our abysmal mismanagement of money and use of debt to pay for things ever end? Great, I (*)(*)(*)(*)ing love the liberal solution! Woohoo, let's just (*)(*)(*)(*) budgets, print some more notes, and party...while we're at it...why collect taxes at all? Let's just use funny money.

 

I would love that. Then we would see what programs Americans really want and I guarantee the DEA would be defunded.

 

What part of a made up money supply do you not understand? Where do you think made up money comes from? Lol. We have been doing this for a century, it has nothing to do with liberals... it's just how a fiat monetary system like ours works. We have an entire banking system that can create money to fund our nation with out any problem whatsoever. And if they end up strapped with too much Govt debt, we have a Central Banking system that can replenish their stock of reserves. I don't get how you guys do not understand the fact that every dollar is simply made up from thin air... China does not grow USD from a magical tree. If they have USD that means we had to of created debt for them to have it. It's a cycle. There is money and debt, they are interchangeable in a monetary system like ours.

 

And the TSA.

I agree completely. It didn't pass (obviously), not even sure it made it out of committee, but if I ever got into Congress I'd pull a Ron Paul and submit it until it passes or I retire.

 

And yet Andy Jackson was the only President to have no national debt for one term.

 

Begun by whom?

And if you haven't guessed yet...the "cult" I belong to wants real currency so that poor people --and everyone else--don't lose their savings to inflation, so they aren't continually paying $4 for a gallon of milk.

Jesus Christ...I'm done. You're beyond hope.

 

Inflation is the catalyst that drives the movement of money. We will strive for inflation for the rest of eternity.

You can hide from the truth all you want. No matter how hard you want to believe that this "conservative" ideology works, it won't change the facts of how things actually work.

 

That was before we had our fiat monetary system. He didn't have to create debt. People just had to dig gold out of the ground. Go try to dig USD out of the ground and let me know if you find any.

 

Intuitively it makes sense. Given that where there is a mixed (but capitalist) economic system there needs to be spending and consumption. If the private sector is lagging then the government sector must step up and spend to keep the pump primed. When the economy recovers then government can slow down spending and allow the private sector, including ordinary consumers, to take over.

 

Wrong dude. The dollar was then tied to gold, gold was not money.

 

The dollar was tied to gold in terms of exchanging the dollar for gold. But the gold was the basis for money and finding it increased your money supply.

 

Clearly, the point just soared above your head.

Ever stop to think that we have a crappy monetary system?

 

We have the largest economy in the history of mankind. A model that almost every developed country throughout the world is trying to mimic. Ever think that you are not very smart?

 

In the end, when the fiscal collapse occurs, everthing WILL be cut, because we won't be able to pay the bills.

 

So in your magical world we run out of made up money?

 

Creating money doesnt mean you can always pay the bills, look at Germany's 1920s hyperinflation. It was often cheaper and easier to burn the money to keep warm.

 

They were still able to pay their bills that were denominated in their currency.

 

With that line of reasoning, even a democracy is really a central planning communist aparatus if somebody disagrees with how the money is being spent. Besides, you don't pay taxes anyway. You gave up all your money and possessions when you joined the cult, didn't you?

 

If you mean the country, yes they obviously got through it eventually. But they had to hit hyperinflation because they had no other way to pay the bills. Which lead to many familys not being able to pay their bills as an egg, milk ect skyrocketed

 

I'm wicked smart, dude I just don't think our monetary system is, no matter how many countries follow it.

 

What part of hyperinflation isn't a cut?


What part of the last few rounds of "Quanitative Easing" haven't been cuts.


Obama's been cutting the benefits and incomes of everyone in America for 4 years running, you're just lying to yourself about it.


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