Finally I see a video about the bullshit they're spinning, I posted a rant on this on Facebook and like the ignorent 16 year old I am, I actually thought I might get a few "intellectual comments", HA apparently not the world we live in. Again allways enjoy listening to you, only hope I become half as knowledgeable as you.
I remember as a kid, playing monopoly with my little sisters who were pretty much ignorant. As soon as I assumed control of working the "bank", I realized just how easy it was to totally cheat them. And I often did.
The difference between me and the gov't is that with me it was just a game, and I at least felt a hint of guilt while doing it. Those remorseless bastards in DC need to quit playing games with our lives.
@Politicimo Define Liberal,I don't think you know what it is. I would say this Man is more so a Libertarian thinking Individual. The Reubublicrats are far more Liberal than He!
The most moral thing that could be done to all this government debt would be for the agents of the government (Congress or whoever is in charge of that) to just repudiate all of it: internal, external, unfunded liabilities, etc.
Those debts represent a claim on a stream of future tax revenues, and investors, foreign governments, etc, all have no more just claim to those returns than any other investment in a criminal enterprise. Hopefully it'll teach them not to invest in a fictional entity.
Stef note that all figures for government spending and revenue in the future are projections, not solid numbers. If the economy goes badly then all the numbers get worse. This not to denigrate your efforts but just to remind people these numbers aren't really real. They are not truth in the sense that the statement "ABC Mining mined 10 million tonnes of coal last month" is truth or even "ABC Mining made $50M profit last month".
Actually, the swedish government minister of finance has decided to pay off the debts of the government and by the current rate that he is doing it, all will be paid by 2018.
However the prize for that is drastical cuts in the social net that once existed(yes, it was actually quite good) in Sweden and increased debt in the private sector.
thank god for the independent media so people can actually find out whats happening in our country because our mainstream media is in fact telling us not a fucking iota of truth
The only thing I would add to this otherwise excellent presentation is that in this example tax revenues are about $20,000. It really hits home when you tell people to imagine a person with an annual income of $20,000 and a credit card balance of $140,000.
There are only 4 countries that have a government controlled central bank (not in the BIS/IMF system). There were 5, until recently. They are: Cuba, North Korea, Iran, Sudan, and formerly Libya. While the Libyan rebels were getting their asses kicked all over the desert, they were able to form a new central bank and a new National Oil company. How they were able to do this, and fight a civil war, without any "outside help", I do not know. Go figure.
@roger767 Yeah, it has to completely fail before anything substantial changes, however, it will be a rinse and repeat thingy unless the institution of gov't changes completely, but even then, look how the US republic went back to serfdom.
Considering the exponential deficit accumulation and assuming as you do that the US financial system is not facing imminent collapse, I might just have to teach my grandchildren the word "septillion".
What insanity our gov't has put us in. I can't wait to see what happens when the shit hits the fan. Dems will blame Republicans. Republicans will blame Dems. They'll both blame China. Dependent class will blame the productive class.
Karl Marx (not a Marxist): "Capitalism contains the seeds of its own demise". Greedy politicians, both Rep and Dems, have screwed the future of our children. The only 2 classes left will be Master and Slave.
Cute, but not really very understanding of the situation and what brought it to this sorry state in only 8-10 years. Everyone's a critic, but who can come up with a workable solution?
@N89J00X I could say the same of your rather dull comment. He laid out certain facts. Do you dispute them? He isn't going into an analysis of why this came to be, and many people have come up with "workable" solutions (one being to end the Fed, and ultimately states themselves. Of course you'll say this isn't "workable" but how the fuck is 14 trillion in debt "workable", who knows...)
@N89J00X It's not 8-10 years. It's been more like since Bretton Woods 70 yrs ago. The American dollar's status as reserve currency has been abused by the politicians. It allowed the country to run up huge trade deficits and also play Santa Claus to both the left and the right That's the situation. The solution would then to end the dollar's status. I'm not sure if that's workable for many. The piper has to be paid sooner or later, regardless if it's "workable."
@N89J00X You're also not considering the fact that for every debtor (or borrower) there is a creditor who has saved to finance the debt. What's workable for the creditor? American or Chinese, people are people and no one likes to lend their money and not get it back.
This 40 billion that they're "arguing" about is so small that the number it represents overall is miniscule. This is all they can talk about, so they make it seem important. This amount is 1/6th of just the yearly budget for dept. of Homeland Security, which is a fairly recent new spigot for spending. This is because nobody can yet talk about cutting the huge, 900 billion yearly military budget.
Yea, id like to apologize to the rest of the world for being such fucktards by leading by such a terrible example. that first 100 years, wasn't it something else though? (eyes glaze over, reminiscing )
The federal government has no intention of ever paying the debt. Since WWII there were only 2 or 3 years when any of the principle was paid, and that was a very small amount. The real problem, also known as the elephant in the room, is interest rates. Interest rates are going to go up. When interest rates go up, interest payments on the debt are going to balloon to really unsustainable levels. Will we make to QE 10 or QE15 before there is a repudiation of the USD?
@lazyd0g Oh, Leave the guy alone. Sometimes it may not occur to someone every single time he wants to know something. Anyway, there's about 3 guys who were quite happy to help out. That's sorta what the comments section is for anyway. :)
@RayWilliamJohnston First, "taxes on the rich" aren't taxes on the rich. Corporations and the very rich don't pay much in taxes. The tax code has loopholes, and they pay millions to accountants to exploit them. So taxes on the rich are taxes on the up and coming "rich," not the very rich. Second, the more you tax the rich, the more they take their business overseas. Third, you could confiscate 100% of all incomes of everyone making over 250k in the US and it wouldn't cover this year's budget.
Deficit = this year's projected US govt. deficit spending
Debt = the official national debt, somewhere around 14 trillion.
Unfunded liabilities = Mostly Social Security and Medicare, somewhere around 140 trillion. Don't know why this isn't included in the official national debt though.
Unfunded liabilities aren't included in the national debt because most of them are future debts that aren't currently owed. Like the eventual social security payments for someone who is currently 30 years old: the gov. doesn't owe him money now, but it expects to at some point in the future.
@thegillotine09 Yes, I would add that they are called unfunded because under the current tax and benefits structure these promises can never be met. All of these budget proposals and pretend cuts are meaningless because there are just too many interest factions feeding at the trough. It is politcally impossible to do what needs to be done. So: the government will spend, spend, spend and print, print, print until the whole thing collapses. Then, we'll probably start another war.
The Deficit is how negative the budget for the current year is, which was about $1.2 trillion in 2010, meaning we lost that much money that year.
The Debt is the total accumulated deficit over time, which is currently $14 trillion, meaning we are 14 trillion dollars in the red.
Unfunded liabilities are the estimated value of future benefits payable (such as social security) minus the net assets of the fund at a given balance date. So we have $140 trillion in expected future debts.
@drew335533 Deficit is the amount you fall short on your budget for a given time period. Debt is the total accumulated amount you owe, from the act of borrowing. An unfunded liability is a liability to which there is no asset of equal or greater value.
So if you get a weekly allowance of $3 and you spend $6 a week at McDs by borrowing $3 from your brother then you have a weekly deficit of $3. On week 1, you have a debt of $3. If you continue on this spending habit, your debt grows $3 a wk.
@drew335533 Forgot about unfunded liability. Think of it as losing a bet you made with a friend for which you didn't have the money to lose. Now you are obligated to pay him but you don't have the money.
I just can't believe that enough people are gullible, uninformed, uneducated, and unintelligent enough to actually believe the horseshit that Obama feeds them. I don't claim to fully understand economics but I know enough to realize that this whole mess about the budget is a joke...a sick joke at our expense.
@LJPpro It's really hard for all of those people that were cheering on Obama as the savior to admit they were dead wrong and he's just another dirt bag politician.
I wonder if I will live to see the end of this monetary system, I'm hoping I do, I wanna see what they can come up with, but sadly, no matter what good control system they can come up with the fact stands, we are WAY TOO MANY!!! 7 billion people is insane, not to mention lots of people live in infrahumane conditions!
I'm sort of wondering why I don't hear more from the Canadian press on what is going to happen to the U.S.. I think our default is only a matter of time. Which means that Canada is going to have one giant and dangerous neighbor on its border soon enough.
"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". — Congressman Louis McFadden in 1932 (Rep. Pa)
@RayWilliamJohnston It would immediately cut the deficit by a few hundred billion, then the unemployment it generates would reduce tax revenue and deepen the depression, and in the long run the deficit would continue to expand, even assuming no "new" government spending.
@DrDissent True, but not in this case. They know the debt will never get paid, Chinese know it too. Bond sales are completely dead and the FED is buying the debt itself by printing FED notes. They are going to keep doing it for as long as it takes and until they figure some other system out which will be even better for them and worse for you. Up till then the "discussions about debt" on government controlled media is merely a performance for the moron audience - like always...
All debt is based on the assumption of a rosy future. Well, the present is yesterday's future and it ain't looking good today. The more debt one accumulates to dig out of, the more likely there won't even be a future since all future consumption has now been consumed today.
@sony8877 Google "Social Credit by Major Clifford Hugh Douglas". You can actually read it online at mondopolitico DT com if you really want to, or do you want me to just give you the skinny on it??
@CalicoVall It appears very similar to the Austrian school in terms of economic philosophy. It seems to describe what could happen if the Austrian school were to be embraced.
I love how the "Libyan Rebels" had time to take out from their revolt and fighting to set up a central bank. The intentions behind the actions are so naked and obvious that it is truly astounding how the sheep can still be so infantile in their understanding of geopolitics and world events.
@DuncanL7979 Really? Interesting. Always figured the Arab League was behind the rebels since they were the ones who wanted that no-fly zone in place. And, if they could get a puppet into Lybia's head, they can influance Egypt and all the shipping going through the Suez Canal via proxy. But I guess it's the Rothchild's playing geopolitical politics again. *sigh*
"I'll have to pay you with Monopoly money that I've been printing in my basement." That made me laugh.
LastStand2010 10 months ago 4
Nice work Stef and thank you but......
This is all well and good but Pop Idol is on folks and we dont wanna miss that!
Also gossip is SOOOO much more fun than all these numbers and cake charts.
Think i'll go and buy an issue of Men's Health and a ultra super duper bi turbo razor.
jamesjjjspike 10 months ago
WAKE THE HELL UP AMERICA! --- Join the Revolution
-
Read “Common Sense 3.1” at ( revolution2.osixs.org )
-
We don’t have to live like this anymore. "Spread the News"
MorpheusX001 10 months ago
Finally I see a video about the bullshit they're spinning, I posted a rant on this on Facebook and like the ignorent 16 year old I am, I actually thought I might get a few "intellectual comments", HA apparently not the world we live in. Again allways enjoy listening to you, only hope I become half as knowledgeable as you.
porkypine1888 10 months ago
I remember as a kid, playing monopoly with my little sisters who were pretty much ignorant. As soon as I assumed control of working the "bank", I realized just how easy it was to totally cheat them. And I often did.
The difference between me and the gov't is that with me it was just a game, and I at least felt a hint of guilt while doing it. Those remorseless bastards in DC need to quit playing games with our lives.
rmcdaniel423 10 months ago
.................. REAGANOMICS HAS DESTROYED THIS COUNTRY!!!!
REAGANOMICS SUCKS... REAGANOMICS SUCKS ... REAGANOMICS SUCKS...
REAGANOMICS SUCKS... REAGANOMICS SUCKS ... REAGANOMICS SUCKS...
REAGANOMICS SUCKS... REAGANOMICS SUCKS ... REAGANOMICS SUCKS...
elwaybigfan 10 months ago
@elwaybigfan Typical liberal drone. THAT'S RIGHT I SAID IT!! Prostrating yourself towards the Mother Ship.
Politicimo 10 months ago
@Politicimo Define Liberal,I don't think you know what it is. I would say this Man is more so a Libertarian thinking Individual. The Reubublicrats are far more Liberal than He!
brder4ev 10 months ago
@elwaybigfan Spammers suck.
Houshalter 10 months ago
The most moral thing that could be done to all this government debt would be for the agents of the government (Congress or whoever is in charge of that) to just repudiate all of it: internal, external, unfunded liabilities, etc.
Those debts represent a claim on a stream of future tax revenues, and investors, foreign governments, etc, all have no more just claim to those returns than any other investment in a criminal enterprise. Hopefully it'll teach them not to invest in a fictional entity.
vspqbd 10 months ago
Stef note that all figures for government spending and revenue in the future are projections, not solid numbers. If the economy goes badly then all the numbers get worse. This not to denigrate your efforts but just to remind people these numbers aren't really real. They are not truth in the sense that the statement "ABC Mining mined 10 million tonnes of coal last month" is truth or even "ABC Mining made $50M profit last month".
newperve 10 months ago
Actually, the swedish government minister of finance has decided to pay off the debts of the government and by the current rate that he is doing it, all will be paid by 2018.
However the prize for that is drastical cuts in the social net that once existed(yes, it was actually quite good) in Sweden and increased debt in the private sector.
lordmetroid 10 months ago
had to watch in 720p to see any of the "real" budget cuts.
bobafruti 10 months ago
I totally believe in this, though I wouldn't be able to defend it in a debate that most likely will occur if I talk about the subject.
Keep it going stef
daschus 10 months ago
thank god for the independent media so people can actually find out whats happening in our country because our mainstream media is in fact telling us not a fucking iota of truth
xtop23 10 months ago
Thanks for doing the graphic work so I don't have to! Stef thinks like me! Highest compliment I can give anyone!
RodCornholio 10 months ago
The only thing I would add to this otherwise excellent presentation is that in this example tax revenues are about $20,000. It really hits home when you tell people to imagine a person with an annual income of $20,000 and a credit card balance of $140,000.
fTn768 10 months ago
One small criticism, I checked your source for the unfunded liabilities, and it said that $140 trillion was predicted "On this day in 2015".
I checked the US Debt Clock website, and the amount of total unfunded liabilities (as of this posting) is $113.4 trillion.
Otherwise, an outstanding video. :)
Hope to see more short ones like this from you.
vspqbd 10 months ago
Perfect elucidation.
MrDorkusMaximus 10 months ago
Excellent vid Stef ... gives a whole new meaning to the term futile
CheekyMonkey888 10 months ago
Totally Radical. Wonderfully sumarised. Excellent work. Well done that man. -D
LukeCoulson 10 months ago 16
@LukeCoulson thank you so much!
stefbot 10 months ago 3
"Most of the West".
There are only 4 countries that have a government controlled central bank (not in the BIS/IMF system). There were 5, until recently. They are: Cuba, North Korea, Iran, Sudan, and formerly Libya. While the Libyan rebels were getting their asses kicked all over the desert, they were able to form a new central bank and a new National Oil company. How they were able to do this, and fight a civil war, without any "outside help", I do not know. Go figure.
mikemat3307 10 months ago
thats fucked up
MoneyWarturz 10 months ago
its pretty obvious that its not politicians that will stop spending, its the total system collapse that will make it stop for us
roger767 10 months ago
@roger767 Yeah, it has to completely fail before anything substantial changes, however, it will be a rinse and repeat thingy unless the institution of gov't changes completely, but even then, look how the US republic went back to serfdom.
GtheMVP 10 months ago
3 Federal Reserve bankers must have watched this video.
sonofagunM357 10 months ago 6
I get the feeling we will be using the term 'quadrillion' in my lifetime....
avstudio1 10 months ago 3
@avstudio1
Considering the exponential deficit accumulation and assuming as you do that the US financial system is not facing imminent collapse, I might just have to teach my grandchildren the word "septillion".
PanzerDivisionBOM 10 months ago
The tax cattle don't have enough beef to fill those burger orders, do they?
dudewithopinion 10 months ago
Why are they talking about debt ceiling if they are always rising it? That doesn’t look very helpful.
tubetib 10 months ago
This has been flagged as spam show
@tubetib You know the real reason.
utuebmakeustupid 10 months ago
What insanity our gov't has put us in. I can't wait to see what happens when the shit hits the fan. Dems will blame Republicans. Republicans will blame Dems. They'll both blame China. Dependent class will blame the productive class.
Karl Marx (not a Marxist): "Capitalism contains the seeds of its own demise". Greedy politicians, both Rep and Dems, have screwed the future of our children. The only 2 classes left will be Master and Slave.
mannyvelo 10 months ago
Cute, but not really very understanding of the situation and what brought it to this sorry state in only 8-10 years. Everyone's a critic, but who can come up with a workable solution?
N89J00X 10 months ago
@N89J00X I could say the same of your rather dull comment. He laid out certain facts. Do you dispute them? He isn't going into an analysis of why this came to be, and many people have come up with "workable" solutions (one being to end the Fed, and ultimately states themselves. Of course you'll say this isn't "workable" but how the fuck is 14 trillion in debt "workable", who knows...)
Moragauth 10 months ago
@Moragauth My point is just that sarcastic comments may be entertaining but they're not really helpful.
N89J00X 10 months ago
@N89J00X It's not 8-10 years. It's been more like since Bretton Woods 70 yrs ago. The American dollar's status as reserve currency has been abused by the politicians. It allowed the country to run up huge trade deficits and also play Santa Claus to both the left and the right That's the situation. The solution would then to end the dollar's status. I'm not sure if that's workable for many. The piper has to be paid sooner or later, regardless if it's "workable."
whitechocolatespace 10 months ago
@N89J00X You're also not considering the fact that for every debtor (or borrower) there is a creditor who has saved to finance the debt. What's workable for the creditor? American or Chinese, people are people and no one likes to lend their money and not get it back.
whitechocolatespace 10 months ago
Ha ha ha ha! Man that was a funny analogy!
creamrising 10 months ago
This 40 billion that they're "arguing" about is so small that the number it represents overall is miniscule. This is all they can talk about, so they make it seem important. This amount is 1/6th of just the yearly budget for dept. of Homeland Security, which is a fairly recent new spigot for spending. This is because nobody can yet talk about cutting the huge, 900 billion yearly military budget.
powergirl901 10 months ago
Ha ha ha, marvelous! This should be on every mass-media out there.
zg76 10 months ago
I'll take Unpleasant Realities for $3.52, Alex.
Answer: It's what we are.
What is...FUCKED?
ATL45 10 months ago
@ATL45 That's pretty funny!! lol
jerami101 10 months ago
Yea, id like to apologize to the rest of the world for being such fucktards by leading by such a terrible example. that first 100 years, wasn't it something else though? (eyes glaze over, reminiscing )
scalp340 10 months ago
Better get your gold soon because paper is on the way out.
mascar33 10 months ago 2
Well explained.
GuildF40 10 months ago
It is so nice to see this so simply stated. Absolutely brilliant as usual Stefan. Thank you always.
Panpiper 10 months ago
And these are the guys that people tell me need to run the economy...sometimes I wonder if they can even hear themselves.
lordthawkeye 10 months ago
The federal government has no intention of ever paying the debt. Since WWII there were only 2 or 3 years when any of the principle was paid, and that was a very small amount. The real problem, also known as the elephant in the room, is interest rates. Interest rates are going to go up. When interest rates go up, interest payments on the debt are going to balloon to really unsustainable levels. Will we make to QE 10 or QE15 before there is a repudiation of the USD?
mikemat3307 10 months ago
@lazyd0g Oh, Leave the guy alone. Sometimes it may not occur to someone every single time he wants to know something. Anyway, there's about 3 guys who were quite happy to help out. That's sorta what the comments section is for anyway. :)
zalida100 10 months ago
Stupid Goyim will never figure us out!
Xianman06 10 months ago
Nice one stef - Thanks
zalida100 10 months ago
One way or another the consumer pays all income taxes.
cchessmaster 10 months ago
@RayWilliamJohnston First, "taxes on the rich" aren't taxes on the rich. Corporations and the very rich don't pay much in taxes. The tax code has loopholes, and they pay millions to accountants to exploit them. So taxes on the rich are taxes on the up and coming "rich," not the very rich. Second, the more you tax the rich, the more they take their business overseas. Third, you could confiscate 100% of all incomes of everyone making over 250k in the US and it wouldn't cover this year's budget.
Stargazer5781 10 months ago
Look at the size of that pixel, it's DRACONIAN!
Houshalter 10 months ago 9
Hello,
I was wondering what is the definition of the terms deficit, debt, and unfunded liabilities?
drew335533 10 months ago
@drew335533
Deficit = The amount by which the amount of money you have is short of the amount of money you pay.
Debt = An amount of money one is obligated to pay in the future.
Unfunded liabilities = Things that need funding for which there is no allocated funding, in this case, mostly entitlement benefits in the future.
Stargazer5781 10 months ago
@drew335533
Deficit = this year's projected US govt. deficit spending
Debt = the official national debt, somewhere around 14 trillion.
Unfunded liabilities = Mostly Social Security and Medicare, somewhere around 140 trillion. Don't know why this isn't included in the official national debt though.
THEGREGDREW 10 months ago
@THEGREGDREW
Unfunded liabilities aren't included in the national debt because most of them are future debts that aren't currently owed. Like the eventual social security payments for someone who is currently 30 years old: the gov. doesn't owe him money now, but it expects to at some point in the future.
thegillotine09 10 months ago
@thegillotine09 Yes, I would add that they are called unfunded because under the current tax and benefits structure these promises can never be met. All of these budget proposals and pretend cuts are meaningless because there are just too many interest factions feeding at the trough. It is politcally impossible to do what needs to be done. So: the government will spend, spend, spend and print, print, print until the whole thing collapses. Then, we'll probably start another war.
joepeeler34 10 months ago
@drew335533
The Deficit is how negative the budget for the current year is, which was about $1.2 trillion in 2010, meaning we lost that much money that year.
The Debt is the total accumulated deficit over time, which is currently $14 trillion, meaning we are 14 trillion dollars in the red.
Unfunded liabilities are the estimated value of future benefits payable (such as social security) minus the net assets of the fund at a given balance date. So we have $140 trillion in expected future debts.
thegillotine09 10 months ago
@drew335533 Deficit is the amount you fall short on your budget for a given time period. Debt is the total accumulated amount you owe, from the act of borrowing. An unfunded liability is a liability to which there is no asset of equal or greater value.
So if you get a weekly allowance of $3 and you spend $6 a week at McDs by borrowing $3 from your brother then you have a weekly deficit of $3. On week 1, you have a debt of $3. If you continue on this spending habit, your debt grows $3 a wk.
whitechocolatespace 10 months ago 2
@drew335533 Forgot about unfunded liability. Think of it as losing a bet you made with a friend for which you didn't have the money to lose. Now you are obligated to pay him but you don't have the money.
whitechocolatespace 10 months ago
Thanks for video
darek795 10 months ago
I just can't believe that enough people are gullible, uninformed, uneducated, and unintelligent enough to actually believe the horseshit that Obama feeds them. I don't claim to fully understand economics but I know enough to realize that this whole mess about the budget is a joke...a sick joke at our expense.
LJPpro 10 months ago
@LJPpro It's really hard for all of those people that were cheering on Obama as the savior to admit they were dead wrong and he's just another dirt bag politician.
TheStig000 10 months ago
I think we'll be ok if we build hotels on Park Place and Boardwalk.
MrGreeneggsnham 10 months ago 3
Thanks for the captions! really helpfull
yoinkz 10 months ago
I wonder if I will live to see the end of this monetary system, I'm hoping I do, I wanna see what they can come up with, but sadly, no matter what good control system they can come up with the fact stands, we are WAY TOO MANY!!! 7 billion people is insane, not to mention lots of people live in infrahumane conditions!
MrNemitri 10 months ago
@MrNemitri The Penis Project
thezeitgeistmovements(DOT)wordpress(DOT)com
anticultist(DOT)wordpress(DOT)com/2010/02/10/who-is-peter-joseph
crystalmethod1000 10 months ago
this video is hilarious and puts the debt in perspective.
hmn4f73r411 10 months ago
I cant wait for your new video on countries
TheGodofAtheists 10 months ago
I'm sort of wondering why I don't hear more from the Canadian press on what is going to happen to the U.S.. I think our default is only a matter of time. Which means that Canada is going to have one giant and dangerous neighbor on its border soon enough.
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kmg501 10 months ago
Can you give me damn magnifying glass next time, lol?
MrStillmans 10 months ago
WIN!
SunBeamsan 10 months ago
"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". — Congressman Louis McFadden in 1932 (Rep. Pa)
=
That was then. It's worse now.
=
So, what are WeThePeople gonna do about it?!
=
WAKE UP!
=
V4Victory ~ TLC
PapaLuvTLC 10 months ago
@RayWilliamJohnston It would immediately cut the deficit by a few hundred billion, then the unemployment it generates would reduce tax revenue and deepen the depression, and in the long run the deficit would continue to expand, even assuming no "new" government spending.
drewmandan 10 months ago
$33 for some war. I'll take a dozen of those!
carcabe 10 months ago
i think square surface graphs would have been better, but great work anyways :)
1schwererziehbar1 10 months ago
Empires dont repay debt, they kill their creditors.
DrDissent 10 months ago 117
@DrDissent I have been saying that for years!
Mauhadeeb28 10 months ago
@Mauhadeeb28 Pass the memo to Stefbot, because he continues to make wonderful presentations based on a false premise.
DrDissent 10 months ago
@DrDissent
What's the false premise?
slipcurve 10 months ago
@DrDissent our creditors will not be killed easily
99cachorro 10 months ago
@DrDissent True, but not in this case. They know the debt will never get paid, Chinese know it too. Bond sales are completely dead and the FED is buying the debt itself by printing FED notes. They are going to keep doing it for as long as it takes and until they figure some other system out which will be even better for them and worse for you. Up till then the "discussions about debt" on government controlled media is merely a performance for the moron audience - like always...
grumpone 10 months ago
@DrDissent I think it is interesting that the Mongol Empire also had a fiat currency.
jmelkis 10 months ago
*4 years later*
We made MASSIVE cuts in 2011 and it failed! The free market failed! We need to increase the budget to 6 trillion!
Morrakiu 10 months ago 82
@Morrakiu Bingo!!
Mauhadeeb28 10 months ago
@Morrakiu That 6 billion simply does not exist...
MagnesiumAlloy 10 months ago
@Morrakiu Ohh.. your being facetious.. sorry I'm a bit slow.. lol
MagnesiumAlloy 10 months ago
No confused at all. A long term 80-90% cut is neaded to "balence" the budget. Even with that there is no way the debt will ever be payed.
deadman12078 10 months ago
All debt is based on the assumption of a rosy future. Well, the present is yesterday's future and it ain't looking good today. The more debt one accumulates to dig out of, the more likely there won't even be a future since all future consumption has now been consumed today.
whitechocolatespace 10 months ago
@whitechocolatespace My answer: Social Credit. ^_^
CalicoVall 10 months ago
@CalicoVall
what's that?
sony8877 10 months ago
@sony8877 Google "Social Credit by Major Clifford Hugh Douglas". You can actually read it online at mondopolitico DT com if you really want to, or do you want me to just give you the skinny on it??
CalicoVall 10 months ago
@CalicoVall It appears very similar to the Austrian school in terms of economic philosophy. It seems to describe what could happen if the Austrian school were to be embraced.
whitechocolatespace 10 months ago
I love how the "Libyan Rebels" had time to take out from their revolt and fighting to set up a central bank. The intentions behind the actions are so naked and obvious that it is truly astounding how the sheep can still be so infantile in their understanding of geopolitics and world events.
DuncanL7979 10 months ago
@DuncanL7979 Really? Interesting. Always figured the Arab League was behind the rebels since they were the ones who wanted that no-fly zone in place. And, if they could get a puppet into Lybia's head, they can influance Egypt and all the shipping going through the Suez Canal via proxy. But I guess it's the Rothchild's playing geopolitical politics again. *sigh*
CalicoVall 10 months ago
Cut the government, cut the cancer :)
MaikUniversum 10 months ago
I passed up pickles on my burger in my supersized meal, i guess by politician logic I'm starving myself.
reapfreak 10 months ago