<meta http-equiv="Content-Type" content="text/html; charset=utf-8"><meta name="ProgId" content="Word.Document"><meta name="Generator" content="Microsoft Word 10"><meta name="Originator" content="Microsoft Word 10"><link rel="File-List" href="file:///C:%5CDOCUME%7E1%5CRHSM%5CLOCALS%7E1%5CTemp%5Cmsohtml1%5C01%5Cclip_filelist.xml"><o:smarttagtype namespaceuri="urn:schemas-microsoft-com
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lace>Lancashire</st1lace> proverb. But very fitting indeed. <o></o>
by the way MJ this debt is different than in the past
back when our debt to gdp ratio shot to over 100% to fund wars
AMERICANS bought bonds with their SAVINGS to fund it
you know the patriotic ads buy bonds and win the war stuff.....
this time foreigners are funding our debt with THEIR SAVINGS not americans...americans are broke....in debt and don't have enough savings......
big big difference
so in essence america is up for sale going forward
back when our debt to gdp ratio shot to over 100% to fund wars
AMERICANS bought bonds with their SAVINGS to fund it
you know the patriotic ads buy bonds and win the war stuff.....
this time foreigners are funding our debt with THEIR SAVINGS not americans...americans are broke....in debt and don't have enough savings......
big big difference
so in essence america is up for sale going forward
When Reagan entered office the percent of US debt relative to GDP was 33.3%. When he left it was 51.9%. Remember all you supply side guys side “debt was fine as long as the tax receipts were increasing? During Clinton the %Debt to GDP was 67 at one point but he left with a 57% stake. Bush will leave office with about a 75% stake. As of right now the GDP is I think 13.7 Trillion and debt is 10.3 and counting. The point of this is not to play partisan party politics. Its to show the bigger picture and that bigger picture is the runaway deficits of the last 30 years. Its not a Republican or Democrat problem it’s a Republocrat problem and until you guys are willing to see this for what it is we will eventually be buried by this avalanche when the entitlements start crashing on as well compounding the damage 10 fold.
well the problem with the GOP is they don't cut spending while cutting taxes
its not that they are wrong necessarily in that lower spending and lower taxes is a good thing
its that they don't get the job done in cutting spending to counterbalance the loss of tax revenue
its not that they are wrong necessarily in that lower spending and lower taxes is a good thing
its that they don't get the job done in cutting spending to counterbalance the loss of tax revenue
your right but i think its safe to say the cannibalization is starting to take place because like Tiz says, we are broke and dont have the funds to keep this economy growing exponentially like so many think we can. 2/3 of this economey (the largest in the world by a mile) is consumer based. We buy shit therefore we are rich. How can we buy with credit going away and inflation eating at our wallets? We cant. Plain and simple and the GDP will feel this. I have said this for almost two years now. Look at Japan and what happened to them in the 90's. They tried to buy themselves out of it with stimulus packages and where are they? 187% debt to GDP. So when our sitting POTUS and Nancy Polosi and many many more both Republican and Democrat congress FUCKING COCKSUCKERS want to give you another Stimulus and another bailout think about what its really doing. Talk about not seeing the forest from the trees, these political cocksuckers are parasites doing whatever it takes to be reelected. Just think, so many of you called this line of think kooky a year ago....now, maybe you have a different take?
by the way you hyperinflationist
GDP going down is deflationary
up till now inflation, debt, and weak dollar have fluffed the GDP for many years now
and if you think the rest of the world is gonna continue to fund our debt (at least cheaply....treasuries rates likely to go up) in order to bailout banks and stimulate our economy....rather than buying their exports....think again.....
also i saw american's saving rate of income shot up to 3% in q2.....its been below 1% for over 5 years now....
for those hyperinflationists out there that think the american sheep won't save....when times get rough
obviously we got a ways to go to the 7-8% we were seeing in the early 90s
this is good news long term
but bad news short term
as our economy is very dependent on people continuing to consume beyond their means not save
GDP going down is deflationary
up till now inflation, debt, and weak dollar have fluffed the GDP for many years now
and if you think the rest of the world is gonna continue to fund our debt (at least cheaply....treasuries rates likely to go up) in order to bailout banks and stimulate our economy....rather than buying their exports....think again.....
also i saw american's saving rate of income shot up to 3% in q2.....its been below 1% for over 5 years now....
for those hyperinflationists out there that think the american sheep won't save....when times get rough
obviously we got a ways to go to the 7-8% we were seeing in the early 90s
this is good news long term
but bad news short term
as our economy is very dependent on people continuing to consume beyond their means not save
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the 2nd half of my jefferson quote is finally starting to play out
while inflation and debt lines are flowing and open to anybody with a pulse that is willing to take it.....they enslave you in debt....once the party stops and the debt starts defaulting.....deflation comes and the debt burden grows greater....and you are left homeless
all the inflationary stuff they are doing right now with bailing out banks and such isn't really inflationary....its not opening back up the credit lines and won't for many years....its just to save their broken fiat system......and make sure that particular debt doesn't make the entire fractional reserve banking system implode and with it the entire global economy...so it isn't complete chaos...we becoming a bartering society....and everybody starts at zero.....the armaggedon scenerio......
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I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)
3rd president of US (1743 - 1826)
while inflation and debt lines are flowing and open to anybody with a pulse that is willing to take it.....they enslave you in debt....once the party stops and the debt starts defaulting.....deflation comes and the debt burden grows greater....and you are left homeless
all the inflationary stuff they are doing right now with bailing out banks and such isn't really inflationary....its not opening back up the credit lines and won't for many years....its just to save their broken fiat system......and make sure that particular debt doesn't make the entire fractional reserve banking system implode and with it the entire global economy...so it isn't complete chaos...we becoming a bartering society....and everybody starts at zero.....the armaggedon scenerio......
-----------------------------
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs.
Thomas Jefferson, Letter to the Secretary of the Treasury Albert Gallatin (1802)
3rd president of US (1743 - 1826)
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LMAO...synaptic plasticity my ass.
More like cognitive dissonance...your head is about to blow off its so loud.
:aktion033
The world over, economists and foreign countries accept the fact that history has shown a 60-70% debt to GDP ratio as optimal.
But I guess ol Fletch knows better. :lol:
it all depends on who's backing the debt buddy
in the past american's bought bonds and backed our government debt.....we were investing in our own country....
today other countries are and the savings rate of americans have plummeted.....
as you continue to ignore my points you have no retort to :drink:
