Crash Course: Chapter 12 - Debt by Chris Martenson

Chapter 12 (Debt): Dr. Martenson explains how, since debt is a claim on future money, it is therefore a claim on future human labor. To put it simply, debt is future consumption taken today. Key Concept 7 is introduced, that "ever-growing debts implicitly assume that the future is going to be larger than the present." Dr. Martenson challenges this assumption, and what it means for us if that condition of growth is not met.

http://www.chrismartenson.com

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[kikrlbs]

Funny how our parents want a better future for us, yet they borrow from it to make their lives easier. Thanks mom and dad! You fucking dumbasses...........

[RBG02005]

BUSH really was the DEVIL. Hicks are the primary reason that that idiot was put in office in the first place. They're more impressed by "folksy-ness" than someone who's qualified. What's worse is that he was elected TWICE! Everyone that voted for Bush should have to pay for the Iraq war and all the debt increases that he caused. It's a damn shame that I wasn't old enough to vote against that crook and now I have to pay for his (and his voters') stupidity. He should be jailed for treason!

[djnetmen]

ANOTHER REASON TO VOTE RON PAUL 2012

[303anzac]

WHEN THE DEFAULT HAPPENS AS PLANED BY THE NWO=WW3=ONE WORLD GOVERMENT=SLAVERY! There is a place in Heaven for those who are already in the trenches fighting the NWO.

[pkripper32]

U.S. Debt as of 10-19-11......... 14,851,667,500,000.... so up 5 trillion in 3 years. Hope and change.. my butt!!!!!

[chelonia1663]

We have a mathematically proven terminal monetary system. The issue — and the only distinguishing process even — was and is "interest."

[gavinjengel]

If a person believes hyper-inflation is approaching, then he would probably want to buy commodities with debt. That is because the high inflation would inflate away the debt, and he could pay it back very easily in the future. So, I wonder, how many people who truly believe hyper-inflation is near are investing with lots of debt?

[captainandthelady]

@enicao True, but a chunck of the stimulus wasn't borrowed money but tax cuts which is still a negative cash flow for the government (us). Between "Dubbya's and "O's" tax cuts we experenced quite a negative cash flow. If we want to pay off our debt we need a positive cash flow without our elected officials spending it as it comes in. We need our infrastructure repaired and rebuilt. If we have to borrow money it should go to things we NEED, not thing we want.

[mdg583]

I don't get what is said about future generations and debt. Debt can't just be present consumption of future rewards - how can I spend tomorrows wealth? How could I drive a car built in 2025 when it is only 2011? Whatever wealth I get today was produced today or yesterday.

[slavimarinovgmailcom]

IMHO: "Debt is a claim on *future* human labor" <= That's not correct. Should be "Debt is a *future claim* on human labor"

[NazTheGreat]

@kikrlbs LMFAO