@5Cats Not an Obama fan, but it's unfair to blame the increase in debt on him. There were the Bush tax cuts (which Obama extended), military spending and the wars, increase in demand in social services because of the recession, and a decrease in tax revenues because of the recession (the unemployed don't pay income tax because they have no income). And the debt hasn't "doubled" since he got in office. Heck, he hasn't even reached her ridiculous numbers.
@vudu8ball Hyperinflation? Inflation has dropped over the last few years because of the recession and we've been on the brink of deflation at several points since this recession started. Inflation is a necessary part of an expanding economy and helps a lot of people repay debt faster as principle on debt reduces in value over time, and we haven't been having enough of it.
@swooningtree Her calculations are silly, because in FY 2009 the interest on the debt held by people outside the govt. cost the US $189 billion, while the govt. took in over $2 trillion. And that's during a recession, with low revenue because of unemployment. So the interest would have to expand in an unprecedented fashion by 2020 to be almost all tax money in the US. Also, she talks about interest rates increasing steadily, when today we're seeing lower interest rates than in her time. Oops!
Is this supposed to be some kind of irony that went over my head? That's not the way the economy works, like not at all. Laurie Anderson's art is great, but I hope she at least looks back at this embarrassed that none of her predictions were true. And they weren't true because she was completely wrong about everything.
The hyper inflation that will inevitably result from the expansion of the money supply will wipe this debt out. ultimately we will welch on this debt. THAT IS WHY THE CHINESE ARE BUYING SILVER AND GOLD AND YOU SHOULD TOO.
love lauries announcements thumbs up for me shes right about the inflation lot of shops and bussinness going broke wats the world comming to we wont have much left soon if it keeps this way
@5Cats Not an Obama fan, but it's unfair to blame the increase in debt on him. There were the Bush tax cuts (which Obama extended), military spending and the wars, increase in demand in social services because of the recession, and a decrease in tax revenues because of the recession (the unemployed don't pay income tax because they have no income). And the debt hasn't "doubled" since he got in office. Heck, he hasn't even reached her ridiculous numbers.
mbp284 4 months ago
@vudu8ball Hyperinflation? Inflation has dropped over the last few years because of the recession and we've been on the brink of deflation at several points since this recession started. Inflation is a necessary part of an expanding economy and helps a lot of people repay debt faster as principle on debt reduces in value over time, and we haven't been having enough of it.
mbp284 4 months ago
@swooningtree Her calculations are silly, because in FY 2009 the interest on the debt held by people outside the govt. cost the US $189 billion, while the govt. took in over $2 trillion. And that's during a recession, with low revenue because of unemployment. So the interest would have to expand in an unprecedented fashion by 2020 to be almost all tax money in the US. Also, she talks about interest rates increasing steadily, when today we're seeing lower interest rates than in her time. Oops!
mbp284 4 months ago
@mbp284 could you be more specific?
swooningtree 6 months ago
Is this supposed to be some kind of irony that went over my head? That's not the way the economy works, like not at all. Laurie Anderson's art is great, but I hope she at least looks back at this embarrassed that none of her predictions were true. And they weren't true because she was completely wrong about everything.
mbp284 1 year ago
Thank god i don't owowow any body any thing. And the ones tat ow me, dont call me, i;ll call you.
katerinapanagio88 1 year ago
The hyper inflation that will inevitably result from the expansion of the money supply will wipe this debt out. ultimately we will welch on this debt. THAT IS WHY THE CHINESE ARE BUYING SILVER AND GOLD AND YOU SHOULD TOO.
vudu8ball 1 year ago
Yes, well. Since B O'Bama is going to double the numbers she mentions, I do wonder how she feels about THAT.
5Cats 2 years ago
Wow thanks for the great quality version of this!
jonwes 3 years ago
love lauries announcements thumbs up for me shes right about the inflation lot of shops and bussinness going broke wats the world comming to we wont have much left soon if it keeps this way
bazboy111 3 years ago