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Topic: Here Comes The Debt Tsunami (Read 30 times) previous topic - next topic

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  • ken 
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  • Global Moderator
Here Comes The Debt Tsunami

  • edthelorax
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  • Administrator
Re: Here Comes The Debt Tsunami
Reply #1
Maybe a tax cut will help
For Entertainment Purposes Only.

  • ken 
  • [*][*][*][*][*]
  • Global Moderator
Re: Here Comes The Debt Tsunami
Reply #2
Maybe a tax cut will help
Ha! Stop spending would but that cuts the reelection chances of the parasite class. 

Re: Here Comes The Debt Tsunami
Reply #3
This thread is hitting at the core of our fiscal problem hat is exacerbated by fed policy. Currently we are, as a nation, consuming more wealth than we are generating. The end result of course is standard of living contracts, unless debt makes up the wealth deficit, but that only makes the problem worse later in time. That is exactly what is going on in governments and in the family home. A second bad outcome is wealth is consumed faster than it is created via profitable ventures and wealth invested in profitable ventures is what creates more wealth. In summary, we are consuming the wealth that provides our standard of living and we are making it harder to turn the situation around by consuming the wealth needed to repair the situation.

Reducing taxes noticeably helped when implemented by Kennedy, Reagan, and Clinton and will likely make things better for families and businesses this time as well. but for governments I doubt things will get better because this time the major entry on the balance sheet is debt and debt is the major drag on the economy. In my opinion, it would be better to address debt via reduced spending. Government spending is nearly 100% consumption that is 100% guaranteed to consume needed wealth. Reducing government spend will cut consumption shifting the ratio of consumption to investment favorably to possibly cure the economy, if we have not gone down the road too far already. Cutting spending is never popular, but it is necessary.

Case in point, after WW! the country was mired in debt and recession. The fed raised rates and the statesmen politicians of the federal government cut spending by about 25%. Result, in less than two years the roaring twenties commenced. We have no statesmen for politicians, so we will not have politicians putting the interest of the country ahead of their need for re-election. Since WWII, self has been promoted over sacrifice. We are reaping the rewards.

  • ken 
  • [*][*][*][*][*]
  • Global Moderator
Re: Here Comes The Debt Tsunami
Reply #4
This thread is hitting at the core of our fiscal problem hat is exacerbated by fed policy. Currently we are, as a nation, consuming more wealth than we are generating. The end result of course is standard of living contracts, unless debt makes up the wealth deficit, but that only makes the problem worse later in time. That is exactly what is going on in governments and in the family home. A second bad outcome is wealth is consumed faster than it is created via profitable ventures and wealth invested in profitable ventures is what creates more wealth. In summary, we are consuming the wealth that provides our standard of living and we are making it harder to turn the situation around by consuming the wealth needed to repair the situation.

Reducing taxes noticeably helped when implemented by Kennedy, Reagan, and Clinton and will likely make things better for families and businesses this time as well. but for governments I doubt things will get better because this time the major entry on the balance sheet is debt and debt is the major drag on the economy. In my opinion, it would be better to address debt via reduced spending. Government spending is nearly 100% consumption that is 100% guaranteed to consume needed wealth. Reducing government spend will cut consumption shifting the ratio of consumption to investment favorably to possibly cure the economy, if we have not gone down the road too far already. Cutting spending is never popular, but it is necessary.

Case in point, after WW! the country was mired in debt and recession. The fed raised rates and the statesmen politicians of the federal government cut spending by about 25%. Result, in less than two years the roaring twenties commenced. We have no statesmen for politicians, so we will not have politicians putting the interest of the country ahead of their need for re-election. Since WWII, self has been promoted over sacrifice. We are reaping the rewards.

  • ken 
  • [*][*][*][*][*]
  • Global Moderator
Re: Here Comes The Debt Tsunami
Reply #5
When nations collapse, such as ours, there will be a tsunami of death. I hope it will not be the people who once again suffer at the hands of the psychopaths they elected, but the psychos that caused this unnecessary shit storm to come.