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Maybe the debt will be paid off by illegal immigrants, technology, a zero percent tax rate, or magic fairy dust, but the reality is that the US debt is increasing constantly, no one cares, and spending more money to reduce the debt will only lead to disaster.
Debt didn't work out too well for Rome, Germany, Japan, Greece, or Zimbabwe.
Those who fail to learn from history are doomed to repeat it.
An asset held by one entity is a debt owed by someone else.
Wrong again, if you have a loan on it, it's a asset on the books at the bank and a liability (debt) to you. Why am I not surprised you don't understand that. It only becomes a asset to you if it's paid for free and clear.
Reading comprehension issues again? What did I post?
Why don't you understand that? Do you know what a Balance Sheet is?
joeyjojojunior saysThe meltdown cost the taxpayers
How is being a taxpayer relevant to the crash? Everyone made the obvious connection with your statement because the bailout cost trillions in taxes.
Still waiting on your response to the above...
Just another day with the Troll.
All the numbers you want, right here:
NuttBoxer saysI disagree. They learned they can be as reckless as they want with other people's money, then when it blows up in their faces, they can make us pay for it!
I know we've been over this time and again, and I'm the first in line to prosecute Wall St., but to be fair, the bailout to which you refer cost the US taxpayers basically nothing. It was all loans that have been paid back with interest.
I'm saying the bailout was almost cost neutral. As shown by the GAO accounting.
Now--the meltdown/crash cost plenty to the US economy. But the bailout is not the same as the meltdown.
Since the government earns no money on it's own, it's all borrowed from the Federal Reserve, and the interest owed on that borrowing is paid back through taxes, which are levied on US Citizens, how the fuck does it cost us nothing!?
Since the government earns no money on it's own, it's all borrowed from the Federal Reserve, and the interest owed on that borrowing is paid back through taxes, which are levied on US Citizens, how the fuck does it cost us nothing!?
It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.
It is well enough that people of the nation do not understand our banking and monetary system
I say shave 75% off the top off every Real Estate parcel in America. Then raise the Fed interest rates to 6%, revisit the HW Bush(Now that we know what evil crooks they were and were the God Father to what we have now) S&L Loans regulation that killed personal saving accounts being paid.
I would rather see my bank account grow 20% YOY than my house. Less you expect your grand children to live in caves and fend for themselves
Exhibit A:
Says the guy who doesn't know the difference between an "Asset" and a "Liability".
No, actually that is none of the numbers I want. I'm looking for you to show where the $10T cost of the bailout is coming from. That link does not answer that.
Joey - I can't help but ridicule you over this. The bailout and the all the wreckage caused by the financial sector (see low interest rates to rob savers to help bankers and balance sheets) is all part of the "fix" that IS NOT BEING PAID BACK. Why is that so hard for you to understand?
Maybe because if your system is ever increasing debt, nothing ever gets paid back? You don't live 200 years and the national debt has been increasing steadily since the 1960s so 60 years might as well be forever. I can accurately say for anyone currently alive, it has cost you nothing.
There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt.
Whether the US is Communist, Socialist, Democratic, or Capitalist today does not change the fact that the USA is a
bankrupt warmongering police state.
robot that was driving @WookieMan nuts.
I just checked this thread on another browser. Glad I ignored Oil and surprised he's only got 5 so far. Pure rubbish what that bot or copy/past troll puts up here. Will use ignore sparingly, but if it's clear the person isn't real or won't literally participate in the dialog, then goodbye.
The US is rigged. Since the USA is a police state, Americans are wondering how to resist. Voting doesn't work. Protesting is illegal. An armed rebellion would probably be crushed.
Yet you're still here in this obvious hellscape where most Americans still go to work and pay the rent and screw every weekend and worry more about their credit card bills than the 1 in 10 million chance they will be shot by a cop.
Why are you here?
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#housing