tag:blogger.com,1999:blog-6244999628674918029.post4778911962470080491..comments2024-03-28T23:57:50.103-05:00Comments on Bayou Renaissance Man: The catastrophic reality of our economic situationPeterhttp://www.blogger.com/profile/10595089829300831372noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-6244999628674918029.post-211374743718621952015-06-24T20:26:56.646-05:002015-06-24T20:26:56.646-05:00You have it all wrong.
Yes it blows up eventually...You have it all wrong.<br /><br />Yes it blows up eventually. But politicians only have to get elected in 2, 4, or 6 year chunks. Anything past that is, to their calculations, utterly irrelevant. Anyone getting on late in the curve can (with some justification) blame his predecessors, and he just needs more time and money to fix the problem.<br /><br />Our political system, our tax system, and our education system ALL have a very high stress on very short-term thinking. The future is the weekend, next month, the end of the fiscal quarter or semester or next election cycle. anything else simply doesn't matter to them.<br /><br />That fact that it blows up <i>eventually</i> is as meaningless to a pol or the average guy in the street as decades are to a toddler.<br /><br />"Eventually" is semantically equivalent to "not within my give-a-shit time horizon."Rolfhttp://www.thestarscameback.comnoreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-47710364626286172112015-06-24T15:52:11.887-05:002015-06-24T15:52:11.887-05:00If it wasn't for runaway inflation this fake g...If it wasn't for runaway inflation this fake government would already be broke. Only the devaluation of the Dollar lets these retards keep borrowing more money. Either they go broke or you do. There is no other way. The idea that giving bums money for alcohol and whores to breed more criminals is an investment is such a Big Lie that even Lenin would be embarrassed. Investment? In what? That police state they want is going to blow up in their face. Nobody is going to be able to fix this now.Anonymoushttps://www.blogger.com/profile/10330477950146402313noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-22739258918315692902015-06-24T15:22:21.303-05:002015-06-24T15:22:21.303-05:00But when they took the funds out of the Social Sec...But when they took the funds out of the Social Security trust they replaced them with good solid government bonds backed by the full faith and credit of the US government. <br />Actually typed that with a straight face.<br />Congress simply could not stand the thought of all that lovely money just sitting there so they did a bait and switch. I liken it to parents raiding their kid's college fund for money to buy beer and smokes and leaving paper IOUs in place of cash.<br />The other scary detail that never gets mentioned is that up until 2013 Social Security ran a surplus. In that year we hit the break point where more goes out than comes in. So some of those US promissory notes have to be cashed it just to pay the bills. The money to do that comes from the yearly federal budget.<br />And that is how the one time cash cow has suddenly turned into a liabilityUncle Larhttps://www.blogger.com/profile/04008207593205949098noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-65672105630501909722015-06-24T13:41:05.989-05:002015-06-24T13:41:05.989-05:00Da Curly Wolf:
You are ever-so-right!
Money and th...Da Curly Wolf:<br />You are ever-so-right!<br />Money and the financial institutions are ALL essentially artificial man-made concoctions, all brought to "life" and kept "alive" by imagery and collective agreement.Tal Hartsfeldhttps://www.blogger.com/profile/05077424958233740898noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-37212429212048857542015-06-24T10:04:39.899-05:002015-06-24T10:04:39.899-05:00hmm put it another way that gets me in trouble and...hmm put it another way that gets me in trouble and people hate me for. <br />Money is only worth what it is because of belief. Because the government tells us so. Soooo.. What happens when people no longer believe?Da Curly Wolfhttps://www.blogger.com/profile/07631427436506831892noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-82179206849227335062015-06-24T10:02:52.630-05:002015-06-24T10:02:52.630-05:00yep it's coming time to pay the piper, and we ...yep it's coming time to pay the piper, and we ain't got nothing but lint in our pockets.Da Curly Wolfhttps://www.blogger.com/profile/07631427436506831892noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-13406106526573882362015-06-24T09:00:15.567-05:002015-06-24T09:00:15.567-05:00Most people expect the future to be a smooth conti...Most people expect the future to be a smooth continuation of the past. It is akin to driving while looking in the rear-view mirror of the vehicle.<br /><br />The Thanksgiving Turkey never has more proof of the eternal benevolence of the farmer than on the Wednesday before Thanksgiving.<br /><br />Depending on their age, those who do not study history feel betrayed when the unfolding of events deviates from the dominant pattern of the past 15-to-50 years.<br /><br />Math is a beautiful thing. It gives us a larger lens than our own personal history.<br />Eaton Rapids Joehttps://www.blogger.com/profile/09102166969915526172noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-43146106556150833432015-06-24T08:24:51.269-05:002015-06-24T08:24:51.269-05:00It's even worse than your sources indicate. Th...It's even worse than your sources indicate. The graph that shows a budget surplus in the 90's? That is the biggest lie of the Clinton Presidency. The only way that anyone can claim that there was a balanced budget under Clinton is to ignore the fact that the government raided the Social Security trust fund to balance the budget. They claim that since SS is "off budget" money, that it doesn't count. <br /><br />Google the term "debt to the penny" and use the tool to lookup the debt during the Clinton years, and you will see that the National Debt went up every single year he was in office.When it is claimed that Clinton paid down the national debt, that is patently false, the national debt went up every single year. What Clinton did do was pay down the public debt--notice that the claimed surplus is relatively close to the decrease in the public debt for those years. But he paid down the public debt by borrowing far more money in the form of intragovernmental holdings (mostly Social Security).<br /><br /> <br />It isn't just one party. Ford, Clinton, and Carter each oversaw a 150% increase in the debt. Reagan, and both of the Bush presidents were responsible for the oversight of a doubling of the debt. Obama will likely double it as well ($10.6 trillion when he started, and $18.1 trillion now, despite the fact that the Fed is monetizing the heck out of the debt) Divemedichttps://www.blogger.com/profile/14583007051962299381noreply@blogger.com