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Ten Myths About Government Debt

Discussion in 'Financial Cents' started by 3M-TA3, Sep 27, 2019.

  1. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    I knew a lot of this, but was shocked to find that our cumulative debt is 165 Trillion USD and that was two years ago. Very well laid out so anyone can understand and only 21 minutes long.

  2. BenP

    BenP Monkey+ Site Supporter+

    Wow! That is great.
  3. Big Ron

    Big Ron Monkey++

    I laughed when the debt hit 17 trillion during the Democrat debate when Hillary was running, Bernie and his fellow socialist talk about spending like the country isn't head over heels in debt. I guess they figure we can print more money. The Republicans are stupid about spending also. Anyone notice the banks borrowing from the fed since they can't come up with enough money to borrow from each other. Like 07-08.
  4. enloopious

    enloopious Rocket Surgeon

    I don't think his math adds up.
  5. DKR

    DKR Interesting ideas, interesting stories



    Bernie or any of the other lunatics gets in power - I have one question....

    whose photo will grace the 2 million dollar bill?
  6. Merkun

    Merkun furious dreamer

    Zero's. Hesheit steepened the downhill slide
    HK_User and Gator 45/70 like this.
  7. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    Bernie gets the $20 Trillion bill unless goes to Occasionally Concious
    Altoidfishfins and HK_User like this.
  8. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    Wow! Great briefing but I do have a few problems with it such as myth #10, the economy can grow enough in 5 years to 'stop the bleeding', very optimistic...and I am not buying it but it really doesn't matter because there is no way we will even get a chance to try.
    Last edited: Sep 28, 2019
    3M-TA3, Gator 45/70 and HK_User like this.
  9. Gator 45/70

    Gator 45/70 Monkey+++

    What would happen if we simply dropped the Federal Reserve and went back to the gold standard?
  10. arleigh

    arleigh Goophy monkey

    The 1929 crash had a lot to do with not having enough money to distribute.
    gold is a limited commodity.
    If every body were to cash in right now ( especially if it were under gold) there would not be enough cash to pass around to meet the need.
    The only value the dollar has right now is the fact that Kuwait and a few other countries accept the currency but that won't last long.
    The rest of the world is getting out of the US currency, and going somewhere else more reliable, that is our current problem.
    When you print imaginary money it gets used abused horrifically, which is what brought us here.
    We didn't need other countries printing funny money to ruin our economy, we did it our selves.
    When banks do not have the money to loan then you will feel the difference.
    Your boss can show they owe you wages, but if those that owe your boss are not being paid, how do you get your money to pay those you owe?
    Initially, the scam worked for a while printing promissory notes, but politicians abused this and we as American citizens abused this as well taking out loans and creating money from thin air. once created it cannot be undone, in theory. unless money like food had a shelf life.cashless, Instead of holding one's stored wealth in cash, holding it in something more tangible less accessible to a wasteful government.
    Lastly, I believe that we the people should have a say in where our money goes, not private interest groups and congressmen making points with their buddies, abusing their positions, voting themselves raises.
    THE only reason representation existed was due to poor communications. That issue is history, not a necessity .because the fact is communications has not been the issue for the last 100 years. radio and telephone communications have been available a long time through out the whole nation.
    True it would require people to become more involved in what's going on, and the problem with this is......?
    But then as a country as a whole making a decision that affects the world, the world assessment of us would be more accurate, in place of policies we do not stand behind, our current representation has failed.
    I venture to say that if people knew how ignorant congress are they would be appalled.
  11. Bandit99

    Bandit99 Monkey+++ Site Supporter+

    True! There simply isn't enough gold but I suppose if it went to $25,000 an oz there would be enough. Nevertheless, there are other venues..."FREE SILVER!"
    Gator 45/70 likes this.
  12. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    Here's your free silver

    Consider that these people vote
  13. Merkun

    Merkun furious dreamer

    Then, one must ask, how do I get change for my $x.xx cuppa?
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  14. Cruisin Sloth

    Cruisin Sloth Special & Slow

    I wish that Mark Dice asked ME !!
    that's not even real chocolate its a candy bar

    Gator 45/70 and 3M-TA3 like this.
  15. 3M-TA3

    3M-TA3 Cold Wet Monkey Site Supporter++

    Honestly, I wouldn't have taken either knowing the value of silver and I try to avoid candy. I'd get a lot more out of is by hanging around and watching the clueless pick the candy every time.
    Gator 45/70 likes this.
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