well when you bomb a country then pay to fix what all you messed up you go in the hole. Lol
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inauguration
- Thread starter Hunter4life
- Start date
utnam: oop:
You posted this on a forum with Reagan worshipers.
I think Reagan sucked.
There is not that much money in print. They never print the interest, only the principle.
Ask any Yugoslavian, they'll agree. Oh wait, they don't exist anymore.
The principle money isn't "in print" either. What is "printed" means almost nothing in today's economic world so I don't know why you keep bothering to mention that the "interest" isn't in print. It's a useless fact that can only be misinterpreted..
Less than 10% of the "debt" could be covered with ALL of the U.S. dollars in circulation currently (or in any time in the recent past's debt levels).
So basically what you are saying is that within 10yrs, we will follow Zimbabwe's footsteps and drastically depreciate the value of the US dollar.
The point is not the volume of money in print, it is a comparison and a damned good one. The total amount of actual cash is less than 30% of all money in cirrculation. Most is in electronic book entry form. Regardless of form, the post is accurate, the interest is never created, only the principle amount. Monetary expansion is debt creation and we are in way over our heads. The 10k per American is not even close to our overall exposure to debt.
The sum total of our Liability is north of 70 trillion and rising. Last year the unfunded liability in Social security alone rose by $11 trillion and is projected to rise by $13 trillion in 2013. Our total GDP that is everything produced in the U.S. in 2012 is right at $14.3 trillion. If the Government confiscated 100% of all the wealth in the U.S. we would be well short of paying for our current liabilities.
The sum total of our Liability is north of 70 trillion and rising. Last year the unfunded liability in Social security alone rose by $11 trillion and is projected to rise by $13 trillion in 2013. Our total GDP that is everything produced in the U.S. in 2012 is right at $14.3 trillion. If the Government confiscated 100% of all the wealth in the U.S. we would be well short of paying for our current liabilities.
That part is perfect to start with. Where is the argument beyond this?
