Jump to content
House Price Crash Forum
Sign in to follow this  
lowrentyieldmakessense(honest!)

Debt Problem Solved

Recommended Posts

write it off sounds good to me

what about the bankers though

link

"We cannot solve our problems with the same thinking we used when we created them."

~ Albert Einstein

Governments in America – at both the state and federal level – are in an escalating state of bankruptcy. Politicians, media hacks, and academicians propose the kinds of responses reminiscent of the classic definition of insanity: to keep repeating the same actions expecting a different result. Increase income taxes, cut spending, enact a federal sales tax, tax "junk food" and tanning salons, are just a few of the suggestions being made by those intent on recycling political solutions to politically-generated problems.

At the center of all this is a national debt that has arisen from a basic truth that statists prefer to ignore: human beings are much less thrifty in spending other people’s money than they are with their own. Let me control your checkbook, and I will come up with a much different pattern of expenditures than you would have. We are much more generous with the lives and property of others, a state of mind upon which political systems depend for their existence.

We need to step outside the circle of our conditioned thinking and consider alternatives to our dilemmas. I have a modest proposal to offer to resolve the national debt: repudiate it! The reality is that, even after more extended wars and the formalization of slave-state efforts to avoid it, defaulting on this debt will become the ultimate solution. Leviathan, and its institutional keepers, will not curb its appetites, particularly when all that stands in its way are the always-expendable people.

I find support for my proposal in the thinking of the Keynesians, whose ideas most of us accepted, helping to produce our current state of affairs. My undergraduate introduction to the study of economics was firmly rooted in Keynesianism, whose tenets expressed what I assumed Thomas Carlyle meant in regarding this field of study as the "dismal science." One of the frequently stated defenses of government debt was "we only owe it to ourselves." It was only years later that I was to discover who the "ourselves" were to whom we were indebted. Such creditors proved to be the same gang who comprised "we, the people" in the creation of government in our country: the institutional interests who comprise the ruling political establishment.

Share this post


Link to post
Share on other sites

Destroying the magic printing press is easy. Trouble is the politicians don't want to, it's the greatest happy pill of all time whilst it lasts.

Printing money - very dangerous I was always taught as a boy. Look at the Germans in the 1920's they said, with a barrow full of cash just to buy one loaf of bread. But of course that lesson and even Zimbabwe the other day is not stopping plans for what has been described as 'monster QE' in the USA of about $5 Trillion - all because it hasn't worked the first time round and obviously the medicine dose needs to be much bigger!!

It's called 'Ecstasy' or even MDMA which is really short for MethylDiaPRINTineMethylyAmphetaPrint :P:P:P:P:P:P:P:o:( :angry:

Edited by plummet expert

Share this post


Link to post
Share on other sites

Printing money - very dangerous I was always taught as a boy. Look at the Germans in the 1920's they said, with a barrow full of cash just to buy one loaf of bread. But of course that lesson and even Zimbabwe the other day is not stopping plans for what has been described as 'monster QE' in the USA of about $5 Trillion - all because it hasn't worked the first time round and obviously the medicine dose needs to be much bigger!!

It's called 'Ecstasy' or even MDMA which is really short for MethylDiaPRINTineMethylyAmphetaPrint :P:P:P:P:P:P:P:o:( :angry:

it really does seem as though some wish to destroy the US

Share this post


Link to post
Share on other sites
write it off sounds good to me

If you write off all debt you also write off all savings and pension.

Good for debtors, bad for savers.

Writing off debt is effectively what inflation does, albeit over a much longer period.

Share this post


Link to post
Share on other sites

If you write off all debt you also write off all savings and pension.

Good for debtors, bad for savers.

Writing off debt is effectively what inflation does, albeit over a much longer period.

When I started working back in the 70's there were older guys just coming to the end of their mortgages. They made comments like "I will be glad to see the back of that 25 year millstone". I asked how much they were paying and it was around £40 a month out of a £450 take home pay. Less than 10% of one wage. Inflation had reduced the percentage over the years making them better off in real terms.

My first house mortgage took 100% of one wage from our dual income budget. It never dropped below 75% and that was due to interest rate cuts, not pay rises. My rent still takes one third of our total income and it is now 16 years since we bought that first house.

Those guys back then thought that inflation was their enemy and never new the real meaning of the word 'millstone'. :blink:

Share this post


Link to post
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.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 150 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.