Meanwhile, that pesky little exploding debt

[nutsy54]

Posts: 108,002
Age: 44
Stats: 5'11", 210 lbs

You posted, just to highlight you have no intelligent response to add to this thread...

Do you support our $17.6 Trillion, ever-growing federal debt?

[SaviorSelfJT]

Do you support our $17.6 Trillion, ever-growing federal debt?

I don't think anyone does.

But the debt is a fundamental core of our monetary system. Are you in favor of our monetary system?

[nutsy54]

I don't think anyone does.

But the debt is a fundamental core of our monetary system. Are you in favor of our monetary system?

False statement. The debt is a fundamental result of SPENDING far in excess of revenue each year.

Your statement is like blaming the credit card company for someone's overspending.

[SaviorSelfJT]

False statement. The debt is a fundamental result of SPENDING far in excess of revenue each year.

Your statement is like blaming the credit card company for someone's overspending.

Out of all the money in existence, only ~5 percent is 'real.' The other 95 percent is debt owed on the 5 percent. What say you to that?

[nutsy54]

Out of all the money in existence, only ~5 percent is 'real.' The other 95 percent is debt owed on the 5 percent. What say you to that?

I say your statement has no relevance to a discussion of the explicit Federal debt and endless government overspending.

[SaviorSelfJT]

I say your statement has no relevance to a discussion of the explicit Federal debt and endless government overspending.

What we are saying is that the money needed to pay back the interest on all our debts (including the massive federal one) doesn't exist yet. It will exist when new loans (debts) are created. But for those new debts, the interest won't exist until new loans are made....ad infinitum.

It's like a balloon that is being inflated exponentially. It has to burst eventually.

[nutsy54]

What we are saying is that the money needed to pay back the interest on all our debts (including the massive federal one) doesn't exist yet. It will exist when new loans (debts) are created. But for those new debts, the interest won't exist until new loans are made....ad infinitum.

It's like a balloon that is being inflated exponentially. It has to burst eventually.

In that case, we're saying the same thing. I think we just disagree on where to place blame for the problem. (You seem to blame the policies that allow it, while I blame the politicians who actually do it).

[HaythamKenway]

You posted, just to highlight you have no intelligent response to add to this thread...

Do you support our $17.6 Trillion, ever-growing federal debt?

I support it, yes. It allows us to continue the nation-building and neo-conservative movement that was initiated by George W. Bush. It will keep growing forever, because no matter if it's a black person as President (I know you hate black people) or a white person, all that matters is the ineptitude of our Congress and the inability of the branches of Government to work together, and our dissolving economy.

While you blame it on the first black President, smart people blame it on decades-long changes that lead to a Great-Recession which required measures that lead to where we are now. I hope you realize that the racist Republican party will have a very hard time winning elections from now on?

[nutsy54]

When you can't actually defend Obama's failures, just hide behind false cries of Racism. What a sad little troll I have stalking me...

[HaythamKenway]

When you can't actually defend Obama's failures, just hide behind false cries of Racism. What a sad little troll I have stalking me...

You're a sad little troll that has stalked this forum for a decade. Shame on you. You racist.

[surf junkie]

Let me preface this by saying nutsy is a magniloquent self-made/un-paid bb.com gubby shill.


That said, I share his opinion re government spending. It's just common sense.


Government brings in $10 and spends $20 ...


And some of you are trying to rationalize this?


The net result is just making the problem worse, and when economic judgement day arrives, the hammer will fall that much harder on the economy.


Debt-financing your way out of problems just delays the inevitable and makes the inevitable worse.


It's the same for personal financing as it is for government financing. The only difference is the scale and timeframe. With personal financing, your own future gets liquidated. With government financing, your nations future and your childrens future gets liquidated.


As far as blame, the blame has to lie with the signatories of spending bills.

The solution is not to swap elected officials though. The solution is policy change to make that behavior more difficult and more dangerous.

Example: the problem is there are rats in your house. The rats are the problem. The solution is not to move the rats outside the house (they will just come back), the solution is to board up the holes that rats enter through, and set kill-traps for the rats.

[SaviorSelfJT]

What does debt even mean when everyone except for the banks has it?

[socialistbrah]

LoL Nutsy banned

[denbran1014]

I support it, yes. It allows us to continue the nation-building and neo-conservative movement that was initiated by George W. Bush. It will keep growing forever, because no matter if it's a black person as President (I know you hate black people) or a white person, all that matters is the ineptitude of our Congress and the inability of the branches of Government to work together, and our dissolving economy.

While you blame it on the first black President, smart people blame it on decades-long changes that lead to a Great-Recession which required measures that lead to where we are now. I hope you realize that the racist Republican party will have a very hard time winning elections from now on?

[Memecop]

LoL Nutsy banned

irony.

[trollspooge]

I just want to add that 95% of the money out there is created by banks (when they make loans), but this video explains how the other 5% is created:



http://www.youtube.com/watch?v=p3_Q1SiRN-A

[nutsy54]

During the one week I was banned, the Federal debt increased $27 Billion
During the entire year of 2007, the Federal debt increased $161 Billion ($3 Billion per week)

Anyone still trying to claim we don't have massive spending & debt problems in this country?

[HaythamKenway]

During the one week I was banned, the Federal debt increased $27 Billion
During the entire year of 2007, the Federal debt increased $161 Billion ($3 Billion per week)

Anyone still trying to claim we don't have massive spending & debt problems in this country?

Yes, we have had massive debt and spending problems since Bush Jr. took office. He ushered in a Tidal Wave of economic despair that the current administration strives to assuage, much to the chagrin of the Republican Congress, who exists solely to block any progress that might be accomplished by bipartisanship for the sole reason of discrediting the current administration due to closet racism.

[nutsy54]

Yes, we have had massive debt and spending problems since Bush Jr. took office.

Incorrect. The deficit decreased for several years of the Bush administration - when he had a Republican-controlled Congress writing & passing the budget legislation. The "massive debt" and deficits didn't kick in until Democrats regained control over spending, and coined $Trillion as the new reference for the annual deficit.

much to the chagrin of the Republican Congress, who exists solely to block any progress that might be accomplished by bipartisanship for the sole reason of discrediting the current administration due to closet racism.

Not sure how you can look at basic fiscal facts (and, once again, a steadily decreasing deficit with Republicans in the House), then translate that into skin color


Claim racism a few more times (in a thread which has nothing to do with race), that's the best way to totally discredit your claims

[HaythamKenway]

Incorrect.

Claim racism a few more times (in a thread which has nothing to do with race), that's the best way to totally discredit your claims

I am indeed correct, and if you are so proud of being a racist that you wish me to call you one a few more times, then I will acquiesce to your request. You are a racist, and most people on this forum would realize it based on your (irrationally extensive) post history.

BTW, your employers must not realize that most of your salary is spent allowing you to spew drivel on a random BB.COM section.

Almost 110,000 posts? Either you work for a worthless company, or you're paid for this sh*t. Just sayin.

[Streetbull]

The Almighty Dollar Is In Peril As The Global ‘De-Dollarization’ Trend Accelerates

"As the Obama administration continues to alienate almost everyone else around the entire planet, an increasing number of prominent international voices are starting to question why the U.S. dollar should be so overwhelmingly dominant in global trade."

http://theeconomiccollapseblog.com/a...nd-accelerates

When the flight from the dollar and our debt begins, that will be the true sign of the Great Depression of the 21st Century.

[Final_Rep]

Posts: 107,883

Stats: 5'11", 210 lbs LOL

Posts: 108,002
Age: 44
Stats: 5'11", 210 lbs

Continuing ad homs will result in a ban.

Ad hominem attacks are against forum rules...

If you guys don't agree then agree to disagree and move on, but resorting to name-calling is childish.

Edit: Well... wasn't me, but that's that!

[Streetbull]

The System is Now MORE Leveraged Than It Was in 2007

http://www.zerohedge.com/news/2014-0...ed-it-was-2007

[jafomofo]

During the one week I was banned, the Federal debt increased $27 Billion
During the entire year of 2007, the Federal debt increased $161 Billion ($3 Billion per week)

Anyone still trying to claim we don't have massive spending & debt problems in this country?

Strong choice of years and i see that you are still being dishonest with numbers to try and make up for your invalid arguments. Its weird though because you only use the wrong numbers for bush...

Here is the link in case you need it again or in case you forgot that bush gave us our first trillion dollar single year increase in debt.

http://www.treasurydirect.gov/govt/r...ebt_histo5.htm

[nutsy54]

Strong choice of years and i see that you are still being dishonest with numbers to try and make up for your invalid arguments. Its weird though because you only use the wrong numbers for bush...

Here is the link in case you need it again or in case you forgot that bush gave us our first trillion dollar single year increase in debt.

http://www.treasurydirect.gov/govt/r...ebt_histo5.htm

When comparing the results of each party, why wouldn't I use the last year of a Republican President & Congress as a benchmark?

Meanwhile, whether you use pure budget-based deficit values, or year-over-year total debt increase, the result is the same: Insanely worse under Pelosi/Reid/Obama (as shown by your link).

And still horrific today with our ineffective and weak Boehner-controlled House.

[CreatineCurler]

A good start would be to get a president like Ron Paul.

[jafomofo]

When comparing the results of each party, why wouldn't I use the last year of a Republican President & Congress as a benchmark?

Meanwhile, whether you use pure budget-based deficit values, or year-over-year total debt increase, the result is the same: Insanely worse under Pelosi/Reid/Obama (as shown by your link).

And still horrific today with our ineffective and weak Boehner-controlled House.

because 2007 was the last boom year of the largest economic bubble in several generations. the house was blue in 07 and the year prior btw in case you forgot so pretending like it would have mattered who was in office or who lead the house at the time is silly. The economy imploded and it was largely a bi-partisan issue.

i don't disagree with you that the budget is a monstrosity and i wouldn't grief you if you weren't disingenuously picking numbers selectively to try and score a point for your side.

[nutsy54]

because 2007 was the last boom year of the largest economic bubble in several generations. the house was blue in 07 and the year prior btw in case you forgot so pretending like it would have mattered who was in office or who lead the house at the time is silly. The economy imploded and it was largely a bi-partisan issue.

i don't disagree with you that the budget is a monstrosity and i wouldn't grief you if you weren't disingenuously picking numbers selectively to try and score a point for your side.

Wut? Democrats regained control of the House in the 2006 election. Which means they took office in 2007, writing/passing budget legislation for 2008.

The games if endless Continuing Resolutions and delayed budgets didn't start until the Pelosi/Reid era.

[nutsy54]

And... while nobody was looking, another new record: $17,709 Billion debt as of Thursday.
http://www.treasurydirect.gov/NP/deb...1&endYear=2014

That's a $962 Billion increase this fiscal year. Five more weeks to go, will we make it an even $1 Trillion explosion for the year?

[EctoCanuck]

Wizard^..........you negged me again 20 minutes before I made this post.I now have 2 of your negs on my CP.Doesn't matter because yg7s7 hits me with his 47K of goodness as soon as he is off the spread with me to negate your negs.He has made your negs irrelevant.


Freedom of speech still matters to some of us.


Edit;He just hit me again!!!Any passing mod can confirm.Keep negging me nutsy and I'll reach 100K before you do.

Screw it Ill do it myself........