National Debt going up $1 Trillion
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not really. 0 -
quote:He urged quick action to increase the limit, saying it was essential to protect the "full faith and credit" of the country, especially at a time of financial market turmoil.
The freaking idiot ,that is why there is finacial turmoil!0 -
So should we all get Euro's now or Chinese Yuan's? 0 -
quote:Originally posted by Oren Rudder
quote:He urged quick action to increase the limit, saying it was essential to protect the "full faith and credit" of the country, especially at a time of financial market turmoil.
The freaking idiot ,that is why there is finacial turmoil!
there is no financial turmoil right now. in case people havent noticed, the economy is GREAT.0 -
First of all, it is ridiculous that our govt. operates at a defecit with all of the raping of taxpayers.
Secondly, why have a debt ceiling? They just raise it. Seems rather pointless. They waste time on a vote for this, when they could be passing some new Un-costitutional freedom depriving legislation!![:(!]
Thirdly, the fed just cut interest rate.5% so the market exploded. Guess we don't need to raise the ceiling after all.[}:)]0 -
It's just a number. [:D] 0 -
It's not just a number when our Federal Debt Interest Only yearly payment is more than we spend on the Department of Defense.
Thus why they HAVE TO KEEP CUTTING benefits, spending, Social InSecurity....etc..
We will pay in.... and get nothing out in a few more years.
Can anyone fathom that?0 -
quote:Originally posted by jpwolf
First of all, it is ridiculous that our govt. operates at a defecit with all of the raping of taxpayers.
Secondly, why have a debt ceiling? They just raise it. Seems rather pointless. They waste time on a vote for this, when they could be passing some new Un-costitutional freedom depriving legislation!![:(!]
Thirdly, the fed just cut interest rate.5% so the market exploded. Guess we don't need to raise the ceiling after all.[}:)]
The simple way out is to print paper money to pay off the debt. That of course would make the money worthless & distroy our credit but at some point it will be the only way out.
At this point, unlike many other countries, we still have this option. It will really become a problem if people in other countries wise up & stop buying dollar denominated debt. If the Chinese for example were to insist on loaning us Euros or their own currency we would lose the option of printing press money.0 -
All the American money in global circulation would pay one years interest payment on our Federal Debt.
There ain't enough trees, ink, and cotton on Earth to make $10 Trillion dollars.
I don't understand why they are borrowing....ohhh.....it's Skull and Bones robbing stupid Americans blind.0 -
Paper money? It only good to build a fire or wipe your butt with. Precious metals or other commodities are the real wealth. Farm land included.
JM0 -
The dollar needs to be re-valued(devalued) to maybe 10 percent of its' current worth.
Screw the foreigners, and we would be OK.
It has worked well for others.
Doug0 -
quote:Originally posted by ObiWan
It's not just a number when our Federal Debt Interest Only yearly payment is more than we spend on the Department of Defense.
Thus why they HAVE TO KEEP CUTTING benefits, spending, Social InSecurity....etc..
can you please show where american has cut any of those you listed ? in fact, their budgets have gone up every single year.0 -
if i remember correctly within 90 days of the first election bush said " we don't have a surplus you have just been over taxed " 0 -
quote:Originally posted by Doug Wilson
The dollar needs to be re-valued(devalued) to maybe 10 percent of its' current worth.
Screw the foreigners, and we would be OK.
It has worked well for others.
Doug
They already did that. A 55 Chevy cost new $2k-2.5K. Price them now!
JM0 -
Greenspan knew when to get out.
JM0 -
" there is no financial turmoil right now. in case people havent noticed, the economy is GREAT." Oh yeah, just great. More houses being
foreclosed on, more credit card debts reminds me of the big depressions
start in 1929 which I lived through.0 -
quote:Originally posted by ObiWan
All the American money in global circulation would pay one years interest payment on our Federal Debt.
There ain't enough trees, ink, and cotton on Earth to make $10 Trillion dollars.
I don't understand why they are borrowing....ohhh.....it's Skull and Bones robbing stupid Americans blind.
Skull & Bones knows what is best for you!
JM0 -
quote:Originally posted by joeaf1911a1
" there is no financial turmoil right now. in case people havent noticed, the economy is GREAT." Oh yeah, just great. More houses being
foreclosed on, more credit card debts reminds me of the big depressions
start in 1929 which I lived through.
i saw it coming 7 years ago0 -
quote:there is no financial turmoil right now. in case people havent noticed, the economy is GREAT.
Yup keep listening to faux news, you will be out on the street with all of the other sheep.0 -
The debt number by itself is meaningless. If you compare it against the GNP then and only then does it take on any meaningful value.
Do the research. The sky is not falling.0 -
Have you noticed the increased price of fuel, metals,and money in the last few years, we are running on legacy prices for most commodities, when the producers figure out they can't make a profit on last years price they will hold-out or go uder like they did in the 70's. 0 -
Many companies switched to LIFO from FIFO accounting some time ago. Don't get too worried about them going under because of price changes too soon. 0 -
Ok thanks , I won't worry my pretty little head about it. 0 -
You're worried about the wrong problems. That issue (FIFO) doesn't amount to a hill of beans. 0 -
I am not worried about fifo, I am discusted with executive and legislative branches printing money to excess every two weeks.
sigs added.0 -
quote:Originally posted by Oren Rudder
I am not worried about fifo, I am discusted with executive and legislative branches printing money to excess every two weeks.
sigs added.
But that was not the point of your post, now was it? You dealt with "legacy prices" for commodities, and that is not a problem of any significance.0 -
Yes it is this years wheat was grown with last years fuel, next years wheat....? 0 -
Also there used to be a surplus of grain that adds a year to demand priceing, there is not much surplus now and demand is up, next year prices will be way up. 0 -
The net effect is that the dollar you made in 2003 is worth 1/3 of what it will be in 2008. 0 -
quote:Originally posted by Oren Rudder
The net effect is that the dollar you made in 2003 is worth 1/3 of what it will be in 2008.
And that is an entirely different issue than the post you made.0
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