dslreports logo
site
 
    All Forums Hot Topics Gallery
spc

spacer




how-to block ads


Search Topic:
uniqs
4
share rss forum feed
« ErrrrWe need more stuff to make »
page: 1 · 2 · next
This is a sub-selection from Greece!

tdouglas22

join:2001-09-25
Memphis, TN
reply to Z80A

Re: Greece!

said by Z80A:

When will these idiots realize that we are beyond out of money?
And how is it that we are OUT of money? Give us the numbers. Thanks.

Automate

join:2001-06-26
Atlanta, GA

1 recommendation

Plenty of big negative numbers here »www.usdebtclock.org/


dr3yec

join:2002-12-19
00000

1 recommendation

reply to tdouglas22
Are you serious? This country is and has been broke for sometime. By the end of the year, our deficit is going to be 62% of the gdp. That is insane.


cdru
Go Colts
Premium,MVM
join:2003-05-14
Fort Wayne, IN
kudos:7
reply to tdouglas22
said by tdouglas22:

And how is it that we are OUT of money?
We're not. We can always print more if we run out.

tdouglas22

join:2001-09-25
Memphis, TN
reply to dr3yec
said by dr3yec:

Are you serious? This country is and has been broke for sometime. By the end of the year, our deficit is going to be 62% of the gdp. That is insane.
Cool.

matrix3D

join:2006-09-27
Middletown, CT
It's obvious that ignorance is bliss for you. That's why this country is in such bad shape... there are way too many of you around.

matrix3D

join:2006-09-27
Middletown, CT
reply to cdru
Obviously, you've never studied economics at all. Increasing the money in circulation does nothing except devalue the dollar and trigger inflation. You can't just go pick more bills off the money tree.


cdru
Go Colts
Premium,MVM
join:2003-05-14
Fort Wayne, IN
kudos:7

4 recommendations

said by matrix3D:

Obviously, you've never studied economics at all. Increasing the money in circulation does nothing except devalue the dollar and trigger inflation. You can't just go pick more bills off the money tree.
Obviously you never studied sarcasm at all.


n2jtx

join:2001-01-13
Glen Head, NY

1 recommendation

reply to matrix3D
said by matrix3D:

It's obvious that ignorance is bliss for you. That's why this country is in such bad shape... there are way too many of you around.
Personally I am not ignorant but I could care less about it any more. There is no one you can vote for who will fix it. Neither political party will fix it. The best I can do is make sure I have enough financial diversity and escape options to avoid total ruin. My long term financial plan does not include receiving Social Security or Medicare as I am sure they will be insolvent by the time I am old enough to collect in twenty years (under the current age limits - they will change - trust me). The best any American citizen can do is make sure that they are prepared for what is coming. The people being paid to care (our elected representative) don't seem to so how can we?
--
I support the right to keep and arm bears.


pizz
1gbps is all the rage.
Premium
join:2000-10-27
Astoria, NY
Reviews:
·Time Warner Cable

1 edit

1 recommendation

reply to matrix3D
we're not running out of money, we're not in some 'crisis' of doomsday with a twist of 2012 anarchy.

we go thru cycles. This could be a plethora of different situations/scenarios. We always rebound back, and more and more people become wealthy and what not.

the only people who cry about how this country is in so much debt, and it's doom and gloom are:

politicians, charity orgs, people who just like to focus on everything negative and few other people.

believe me, my rich friends are still rich and still making more money than god. change the way you see things, and surround yourself with wealthy people, and you'll see how this country isnt in debt, or doomed and gloomed.
--
I tie a rope around my penis and jump from a tree. Dont you want to grow up and be just like me.

tdouglas22

join:2001-09-25
Memphis, TN
said by pizz:

we're not running out of money, we're not in some 'crisis' of doomsday with a twist of 2012 anarchy.

we go through cycles. This could be a plethora of different situations/scenarios. We always rebound back, and more and more people become wealthy and what not.

the only people who cry about how this country is so much debt, and it's doom and gloom are:

politicians, charity orgs, people who just like to focus on everything negative and few other people.

believe me, my rich friends are still rich and still making more money than god. change the way you see things, and surround yourself with wealthy people, and you'll see how this country isn't in debt, or doomed and gloomed.
THIS!! Thank you for a calm and level headed response.


ArrayList
DevOps
Premium
join:2005-03-19
Brighton, MA
Reviews:
·RCN CABLE
·Comcast
reply to dr3yec
said by dr3yec:

Are you serious? This country is and has been broke for sometime. By the end of the year, our deficit is going to be 62% of the gdp. That is insane.
for how manyhudred years?


ArrayList
DevOps
Premium
join:2005-03-19
Brighton, MA
Reviews:
·RCN CABLE
·Comcast
reply to pizz
said by pizz:

we're not running out of money, we're not in some 'crisis' of doomsday with a twist of 2012 anarchy.

we go thru cycles. This could be a plethora of different situations/scenarios. We always rebound back, and more and more people become wealthy and what not.

the only people who cry about how this country is so much debt, and it's doom and gloom are:

politicians, charity orgs, people who just like to focus on everything negative and few other people.

believe me, my rich friends are still rich and still making more money than god. change the way you see things, and surround yourself with wealthy people, and you'll see how this country isnt in debt, or doomed and gloomed.
+1


Alcohol
Premium
join:2003-05-26
Climax, MI
kudos:4
reply to matrix3D
said by matrix3D:

Obviously, you've never studied economics at all. Increasing the money in circulation does nothing except devalue the dollar and trigger inflation. You can't just go pick more bills off the money tree.
True for every country and semi true for usa. Being #1 gives us the confidence of investors. Which is why the dollar is considered the safest investment in the world.
We can print/borrow money for now, until the dollar devalues enough that people lose confidence, but i don't see that happening anytime soon.
US deficit will always exist as no president wants to be the one to raise taxes and cut budgets due to politics.
All we can do is not spend excessively but that isn't happening with the current President and and previous one didn't help the cause.
--
I found the key to success but somebody changed the lock.


Z80A
Premium
join:2009-11-23

1 edit

1 recommendation

reply to pizz
This goes beyond cycles. Debt levels haven't been this high since WWII and we didn't have the unfunded liabilities then that we have now so there is little hope of paying it down as we did after WWII.

So we currently borrow hand over fist to cover these massive deficits. Two things happen. We have to pay interest and the interest payments consume more and more of the budget. Two, eventually we can't borrow any more and/or we have to start printing money to fill in the gaps resulting in hyperinflation. That affects ALL Americans.

Just the interest payments on this debt could eclipse a trillion dollars.

You will see it when California files for bankruptcy. You will see it when interest rates start skyrocketing. You will see it when greedy public employee unions demonstrate in the streets like they do in Greece. You will see it when the economy collapses again, harder than ever.

You can't now borrow your way out of debt and debt as a percentage of GDP is hugely important to economic stability and future viability.
--
"Our goal (was to make) a billion phones Flash-enabled by 2010...We're actually going to get 1 billion Flash-enabled phones by 2009." -Adobe Chief Technology Officer Kevin Lynch in Nov 2008.


Z80A
Premium
join:2009-11-23
reply to ArrayList
said by ArrayList:

said by dr3yec:

Are you serious? This country is and has been broke for sometime. By the end of the year, our deficit is going to be 62% of the gdp. That is insane.
for how manyhudred years?
Until we simply print massive amounts of money to cover it and those dollars in your bank account become more and more worthless.
--
"Our goal (was to make) a billion phones Flash-enabled by 2010...We're actually going to get 1 billion Flash-enabled phones by 2009." -Adobe Chief Technology Officer Kevin Lynch in Nov 2008.

tdouglas22

join:2001-09-25
Memphis, TN
reply to Z80A
said by Z80A:

Debt levels haven't been this high since WWII
And even then, the country came up out of it. So again, it's a cycle. The sky is NOT falling.


Z80A
Premium
join:2009-11-23

1 edit

1 recommendation

Again, that is because we didn't have the unfunded liabilities then that we have now. Also WWII was massive TEMPORARY spending. Congress and this Administration are spending like drunken sailors with NO end in sight.

The sky is falling like a rock. The fake recovery will stall and fall backward.


Tzale
Proud Libertarian Conservative
Premium
join:2004-01-06
NYC Metro

1 recommendation

reply to tdouglas22
said by tdouglas22:

said by dr3yec:

Are you serious? This country is and has been broke for sometime. By the end of the year, our deficit is going to be 62% of the gdp. That is insane.
Cool.
You're an uneducated fool to not realize how serious the problem is.

-Tzale
--
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety.
-:-
"I believe the very heart and soul of conservatism is libertarianism."~Ronald Reagan
-:-
www.freestateproject.org - LIVE LIBERTY


Tzale
Proud Libertarian Conservative
Premium
join:2004-01-06
NYC Metro
reply to pizz
said by pizz:

we're not running out of money, we're not in some 'crisis' of doomsday with a twist of 2012 anarchy.

we go thru cycles. This could be a plethora of different situations/scenarios. We always rebound back, and more and more people become wealthy and what not.

the only people who cry about how this country is in so much debt, and it's doom and gloom are:

politicians, charity orgs, people who just like to focus on everything negative and few other people.

believe me, my rich friends are still rich and still making more money than god. change the way you see things, and surround yourself with wealthy people, and you'll see how this country isnt in debt, or doomed and gloomed.
Who said wealthy people were becoming poor? The GOVERNMENT is!

-Tzale
--
They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety.
-:-
"I believe the very heart and soul of conservatism is libertarianism."~Ronald Reagan
-:-
www.freestateproject.org - LIVE LIBERTY

wierdo

join:2001-02-16
Tulsa, OK
reply to Z80A
said by Z80A:

Until we simply print massive amounts of money to cover it and those dollars in your bank account become more and more worthless.
You might want to look out the window, bud. We're in a deflationary environment, not an inflationary one. We could print another trillion bucks and it wouldn't even begin to put a dent in the hole of dollars destroyed by our recent troubles.

Certainly the bond market isn't concerned about lending the US Government more money given the current yields on treasuries. Obviously deficit spending cannot continue at current levels for all that much longer, but predictions of hyperinflation are beyond premature.
--
It's wierdo, not weirdo. Yes, I know that's not the 'proper' spelling of the similar english language word.

nanoflower

join:2002-07-14
30876
reply to pizz
I do agree with you that we go through cycles and aren't facing a doomsday. (It could happen but would take some truly horrible decisions to be made that just aren't likely to happen.) It's also true that more people tend to become wealthy over time. The bad thing is the division between the wealthy and the poor is becoming much greater over time.

Consider the classic example of the difference between an entry level employee in a company (say a secretary) and the people at the top (say a CEO.) In the 60s the difference would have been on the order of 10x. Now the difference may be 40-50x. That shows that while there may be more rich people it does seem that the money tends to move towards the high end.


Z80A
Premium
join:2009-11-23

4 edits
reply to wierdo
Alas, inventing only trillion dollars would barely cover 1/2 the year's deficit. They would have to invent 1.8T every year just to break even. Invent 10 trillion and see what happens.

Meanwhile bond yields are at or near lifetime lows and prices are at highs because everything else is a complete disaster. It isn't that bonds are now oh so safe and attractive. So long as the Chinese continue to loan, the gov't can hold off inventing massive amounts of money but they have already signaled their intent to stop. And then on to the printing presses for not a trillion, but trillions upon trillions.

Hyperinflation is a monetary event that happens very quickly, not an economic one.

WhatNow
Premium
join:2009-05-06
Charlotte, NC
Reviews:
·Time Warner Cable
reply to Z80A
It is the group that spent money like drunken sailors when they were in power at the same time they were reducing taxes to the wealthy. When they get back in power let's see if they curb spending to their friends. The Administration should cut off any discretionary spending to the areas that the Representatives cry the loudest to cut spending. Sometimes you need to get what you ask for.

If I had a magic wand I would say you collect the taxes this year and what you have in the bank is what you can spend next year. I am all for balanced budgets just tell me what you will cut besides your waste and fraud. I hate debt my 30 year house loan will be paid off next year in only 5 years. If more people would budget like that we would not have the problems we have now.

The problem is so much of the budget is to pay for debt service instead of current needs.


Z80A
Premium
join:2009-11-23

4 edits
Actually the burden (the share of revenues paid) by the highest income earners increased throughout the 2000's. The rich paid more and poor paid less.

»www.irs.gov/taxstats/indtaxstats ··· ,00.html

And you are right, the Neo-con jerkoffs ran deficits in the $200B range the entire decade but by 2006 they were decreasing and about $160B when the Pelosi Politburo took over. Then the deficits skyrocketed immediately to $400B. Now it is $1.8T with no end in sight.

Make ALL government spending discretionary.

Cut everything...non-so-so security entitlements, pentagon, eliminate ALL gov't pensions and let them slum it in the So-So security pool with the rest of us. To fix so-so security raise the retirement age to 70 for anyone under 60, eliminate so-so security payments to higher income retirees (anyone making more than $60K/yr) and eliminate the cap on So-so security contributions. Instant solvency for So-so security.

Across the board 25% cut (REAL cuts, not the bullshit Democrat cuts which are just cuts in increases) in EVERY portion of government including defense and social programs and then freeze that spending for 5 years. Strict means testing for ALL benefits. No cost of living increases, no increases period. Cut government worker pay by 15% across the board and no public employee pay increases for 5 years and after that index their increases to those in the private sector. Gov't hiring freeze for 5 years. Let the government roll back like American business and families have had to. Gov't union workers go on strike...fire them and replace them. With 18+% underemployment there are plenty who would love those jobs.

Make all tax increases require a super majority. All new programs with a CBO cost over $200B/yr require a super majority. Make it impossible to create titanic programs or raise taxes unless there is consensus of both parties.

Eliminate capital gains taxes and make those profits taxable as income at the earner's marginal rate, just like other sources of income.

Outlaw the deemed passed bull crap like that just used by Pelosi to get over a trillion without having to actually have a budget.

Lastly pass a Balanced Budget Constitutional Amendment and get it ratified so that drunken sailors of any party can't get us in this mess again.
--
"Our goal (was to make) a billion phones Flash-enabled by 2010...We're actually going to get 1 billion Flash-enabled phones by 2009." -Adobe Chief Technology Officer Kevin Lynch in Nov 2008.

wierdo

join:2001-02-16
Tulsa, OK
reply to Z80A
said by Z80A:

Hyperinflation is a monetary event that happens very quickly, not an economic one.
If you really think the two are that divorced, there's no sense in continuing to discuss this.

You can't have hyperinflation without either an extreme expansion of the money supply, which we haven't had nearly as much of as the doomsayers would have us believe or a severe contraction in economic output. We haven't had either of those things.
--
It's wierdo, not weirdo. Yes, I know that's not the 'proper' spelling of the similar english language word.


Z80A
Premium
join:2009-11-23
Extreme expansion of the money supply is a monetary event, not an economic one and it is coming most assuredly unless spending is cut drastically. And we both know that will not happen.


ArrayList
DevOps
Premium
join:2005-03-19
Brighton, MA
reply to Z80A
those dollars in my bank account are yen

wierdo

join:2001-02-16
Tulsa, OK
reply to Z80A
said by Z80A:

Extreme expansion of the money supply is a monetary event, not an economic one and it is coming most assuredly unless spending is cut drastically. And we both know that will not happen.
If you say so. You seem to be under the impression that the value of the dollar is not directly tied to our economic output relative to the world. By what other benchmark does a fiat currency have value?

Hyperinflation requires inflation, by definition. If we have little to no inflation, hyperinflation is a simple impossibility.

You should be more concerned about deflation, but as with half of the world, you seem to have decided for no particular reason that a deflationary environment is inflationary.
--
It's wierdo, not weirdo. Yes, I know that's not the 'proper' spelling of the similar english language word.

cw30000

join:2008-07-11
Last I check my check, my food cost more, my energy cost more and other necessities cost more too. So, how is this not inflation?

Why should we have to be concerned about deflation. How is deflation a bad thing? So my dollar can buy more today than yesterday is a bad thing?