Jump to content

Fiscal cliff


sandhiller
 Share

Recommended Posts

Once I got my head somewhat wrapped around the concept of sovereign currency creation I quit worrying about national debt.  I’m not saying that I think everything the USA does fiscally is right.  There is plenty of of improvement possible.  But I realized that national debt, when it is in the nation’s own currency, is not comparable to personal debt.

I don’t worry about the amount of the national debt, I do worry about the rate that it increases.  

  • Like 3
Link to comment
Share on other sites

Amen.

Government, the only entity in the world where spending more than you take in seems to have no immediate consequences like the rest of us. Yeah it eventually catches up but have any of us try to pull this scam off and see how far we go.

 

  • Like 6
Link to comment
Share on other sites

Your thinking too much, that won't get you very far!

All you need to alleviate (not elevate) the national debt is runaway inflation. They are working on that now.

Thx-Ace 

Edited by acem
Spell check screwed me again
Link to comment
Share on other sites

eventually the fiddler gets paid or the dance stops......may be  we need CD to best the devil real SOON

 

re: the bottom of photo  I know some 7 ZERO honey dippers

 and few gold diggers EVERY !!!   time they got in a bind,dove down,came up with gold and roses

  • Like 1
Link to comment
Share on other sites

14 hours ago, acem said:

All you need to alleviate (not elevate) the national debt is runaway inflation. They are working on that now.

We will see what happens.  I would expect some actual inflation (as in devaluation of the dollar).  There is more than 1 form of price inflation and we have to be careful what exactly we are looking at.  I looked back in the US history to see what has happened with currency values vs currency creation.  The greatest change in dollars in circulation and in dollar value happened during the Civil War years, when the dollar lost half its value (100% inflation) but the dollar supply increased by a breath taking 14,000%. That makes me think the current situation is not untenable, provided the clowns in charge don’t continue down this road of “helicopter money.”  It is interesting to note what happened to the money that the Confederate States used.  They had to create a new currency from scratch and in a hurry.  By the time the war was over, that currency had suffered 9,000% inflation, and before the the South capitulated the Southern government wouldn’t even take its own currency as payment.  That, to me, is the definition of hyperinflation, a loss of confidence in the currency.  It would seem to me that the South was doomed before they even fired one shot, simply on monetary grounds.

Link to comment
Share on other sites

45 minutes ago, jeeper61 said:

It is not the total debit it is the interest on the debit and if interest rates go up it will have a big impact  

If you youtube Glenn beck One way for fed to fix inflation it’s a good 13:00 video 

  • Like 1
  • Thanks 1
Link to comment
Share on other sites

The fiscal operating debt is not the number that everyone should be worried about, although it is a staggering number. The unfunded liabilities are what is going to cause major problems. It will take the entire federal budget to service this debt if we continue on this path. Unfunded liabilities depending on who you ask is $100 trillion give or take. There are already too many people in the cart and not enough people pushing the cart as it is. It is also not the Prince of Fools who is the problem, it’s the fools who made him their prince. 

  • Like 2
  • Thanks 1
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...