For reference, the next one is quadrillion:
Yeah, but what’s it got to do with killing Bin Laden?
That’s peanuts – just the official Imperial Debt. Add up the student loans, credit card, corporate debt, bankster debts, municipal debts and all the other debts and we have a truly horrific situation. There are more debt bubbles than in my beer.
Sovereign debt of the US Empire is backed up with the threat of nuclear armageddon, the other debts are not. So one way or the other, this will end badly.
The debt instruments of a monetary sovereign like the US are a form of money THEMSELVES, so there is no debt!
However, it is a waste of interest, so the national debt of the US should be paid off as it comes due with brand new fiat.
Fiat: Fucking Idiots And Trolls.
Ron Paul vs. Paul Krugman on Bloomberg TV 😀
Peter Schiff Tells Rick Santelli ….
“The Only Way to Fix The Economy Right Now Is “Vote Ron Paul”!”
A couple of word equations —
You can only have debt if the B is silent.
Therefore the B’s of the world must get bitchy with the banksters.
Because the B -banksters want to remain invisible.
If R=Rich then pooR = poo from Rich
-or trickle down diarrhea as defined by Reaganomics.
debtonate the debt, yo.
Quote:- “– Obviously, it is possible that new developments in technology and globalization will provide such a remarkable reservoir of growth that today’s record debt burdens will eventually prove quite manageable.”
“Possible” & “probable” have different meanings. It is highly probable that an inept government will throw good money after bad, investing in dubious technology. Government now live is secluded ivory towers, surrounded by lobby groups touting false and misleading information. Agriculture is one area that potential disaster looms. Government are blind to the manifest reality that genetically modified crops have not delivered on their boasts, and have performed under par on every metric. Bees are threatened by new insecticides, the ecosystem is on the verge of collapse from intensive industrial farming methods. Interestingly America’s highest farm productivity is from farms run by the Amish, who won’t even allow new fangles electricity, yet alone cars and motorized tractors. Their fertilizer is no chemical, it is the exhaust product of their milk producer.
My point is that government should be very careful that they don’t turn a crisis into a catastrophy! with bungled investment in no hope schemes! and that will happen if they listen to the sly whispers of corporate lobby groups, offering generous donations to election expenses in return for favours.
Peter Schiff Tells Rick Santelli ….
“The Only Way to Fix The Economy Right Now Is “Vote Ron Paul”!” V B
Vonda and Peter Schriff sitting in a tree
Really, Vonda, even gold bugs don’t like that jerk.
BIG DEAL ! wake me up when its 20 Tril in 2 years lmao pocket change
Ratio of debt to GDP in 1950s, paying-off WW2 Keynesian stimulus debt: 120% of GDP.
Debt was at its all-time-high in the 1950s.
But there were NO spending cuts.
IN FACT, taxes were RAISED to 90% on the top tax bracket.
And spending INCREASED:
The fact is: The United States SPENT its way out of WW2 debt.
How? The U.S. went on a massive print-run and spending spree that built the U.S. Interstate Freeway System (100% socialist in nature), public schools, municipal water systems, hydroelectric dam projects, rural electrification (much of the rural U.S. still did not have electricity), hospitals (which used to be non-profit), ports, bridges, airports, fire departments, and the G.I. Bill, which paid for veterans to go to college and become Middle Class taxpayers.
This spending-spree created a boom that created a new class of taxpayers that barely existed before the Great Depression: the Middle Class.
By 1974, the debt-to-GDP ratio fell to 32 PERCENT. Because of deficit-spending on infrastructure.
Accusations of “spending money we don’t have” need to explain how the U.S. spent its way out of WW2 debt.
Even our “Debt-to-GDP” problem is an artificial problem.
The Mystery Question is:
Why does somebody want us to have a (TOTALLY SOLVEABLE) Debt-to-GDP problem (that we’ve already had in the 1950s, but refuse to use the same solution for)?
WHO wants the United States to sink because of an artificial problem?