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Offline donkeypong

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Re: Implications of US National Debt
« Reply #1 on: September 17, 2014, 07:57:21 PM »
In simple terms, it means that we will continue to pay more of our budget toward servicing this debt. Currently, it doesn't matter that much, since money is cheap (low interest rates). But interest payments could become a bigger chunk later on, at the expense of more important things. Ideally, when you are spending beyond your means, you want to be investing in some infrastructure or something that creates a future benefit. I doubt that's happening right now, though one could argue that this health care plan may cost something to get started but should save some money down the road.

Democrats are accused of spending, spending, spending, which is a fair criticism, but they will say in their defense that the bigger problem is on the revenue side of the balance sheet; there isn't enough coming in there, since the rich are not paying their fair share. Republicans are accused of wanting to cut, cut, cut, many programs (which some others believe are needed), yet they see lower taxes as stimulating the economy, etc. Also, the last time the Republicans were in (under Bush), they spent a shitload of money themselves (a couple of wars and handouts to their corporate friends). Of course, these are extreme stereotypes and there are plenty of politicians who don't squarely fit these, but most do.

Everyone's corrupt, since basically you cannot get elected without being beholden to special interest groups who dictate where you spend the money. Things definitely are a bit out of whack.
« Last Edit: September 17, 2014, 07:59:37 PM by donkeypong »

Offline speedy

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Re: Implications of US National Debt
« Reply #2 on: September 17, 2014, 08:04:05 PM »
What is going to happen is that they will do everything they can to try to inflate the debt away, thereby destroying everyone's savings.

And if you try escape from this evil system by putting your savings into non-inflatable assets, they will punish you by making you pay capital gains tax.

Tuck Fheman

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Re: Implications of US National Debt
« Reply #3 on: September 17, 2014, 09:14:34 PM »
Can anyone explain to me in simple terms what will happen if this keeps up?



Offline jsidhu

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Re: Implications of US National Debt
« Reply #5 on: September 17, 2014, 09:39:12 PM »
Mandatory/recommended reading for anyone who doesn't understand the currenct economic/financial model: http://www.peakprosperity.com/crashcourse
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Offline speedy

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Re: Implications of US National Debt
« Reply #6 on: September 17, 2014, 09:48:43 PM »
Lol. Who is boot? And who's that guy?

Such confusions.

The boot is the state.

Offline donkeypong

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Re: Implications of US National Debt
« Reply #7 on: September 17, 2014, 10:13:12 PM »
Mandatory/recommended reading for anyone who doesn't understand the currenct economic/financial model: http://www.peakprosperity.com/crashcourse

ABSOLUTELY! Chris Martenson's Crash Course is worth every minute of your time to watch. He also helps people understand how fundamental the oil/energy is in our economic system. I had been trying to communicate that to people myself and when I saw his course, I knew all I needed to do was send people there. He ties it all together. I know that some of the populist libertarian types really endorse his stuff (as they should), but it is decidedly non-political and I hope he keeps it that way.

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Offline mf-tzo

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Re: Implications of US National Debt
« Reply #9 on: September 17, 2014, 11:19:00 PM »
Quote
Mandatory/recommended reading for anyone who doesn't understand the currenct economic/financial model: http://www.peakprosperity.com/crashcourse

Thanks for posting this! I am in the middle and so far it is really interesting but I need to go to sleep now. Will definitely watch the rest of it tomorrow.

Tuck Fheman

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Re: Implications of US National Debt
« Reply #10 on: September 18, 2014, 12:38:28 AM »
Lol. Who is boot? And who's that guy?

Such confusions.


Tuck Fheman

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Re: Implications of US National Debt
« Reply #11 on: September 18, 2014, 12:39:12 AM »
Lol. Who is boot? And who's that guy?

Such confusions.

The boot is the state.

 +5%

Offline tonyk

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Re: Implications of US National Debt
« Reply #12 on: September 18, 2014, 01:24:55 AM »
http://www.zerohedge.com/news/2014-09-16/us-national-debt-has-grown-more-trillion-dollars-last-12-months

Can anyone explain to me in simple terms what will happen if this keeps up?

In simple terms it will continue to go on.


As for a solution (that neighed party is willing to take/ and or teaching as of now, some have occasionally subscribed to those ideas, but have never fully follower with actions... *2) read the book I recommended in here: https://bitsharestalk.org/index.php?topic=8869.0


*2 Others without  even realizing it have done actually a pretty good job, doing the right thing... the success was wrongly attributed to other factors...unfortunately...
« Last Edit: September 18, 2014, 01:35:52 AM by tonyk »
Lack of arbitrage is the problem, isn't it. And this 'should' solves it.

Offline Mysto

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Re: Implications of US National Debt
« Reply #13 on: September 23, 2014, 11:55:10 AM »
http://www.zerohedge.com/news/2014-09-16/us-national-debt-has-grown-more-trillion-dollars-last-12-months

Can anyone explain to me in simple terms what will happen if this keeps up?

In simple terms the dollar will go down in value while bitshareX or equivalent will increase in value.

 

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