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Unfortunately this is from a couple of years ago. Jack hates when I make this comparison, so here it goes. :)
* U.S. Tax revenue: $2,170,000,000,000 * Fed budget: $3,820,000,000,000 * New debt: $ 1,650,000,000,000 * National debt: $14,271,000,000,000 * Recent budget cuts: $ 38,500,000,000 Let's now remove 8 zeros and pretend it's a household budget: * Annual family income: $21,700.00 * Money the family spent: $38,200.00 * New debt on the credit card: $16,500.00 * Outstanding balance on the credit card: $142,710.00 * Total budget cuts so far: $38.50 |
Originally Posted by Braineack
(Post 929240)
The epitome of everything I hate about Obama:
“you're willing to stake your political career on there being a common ground?” “That’s the core of my faith,” Obama replied. his position has not evolved; he still hates America, the American way, and your success. Complete and utter bullshit. |
Originally Posted by cordycord
(Post 929387)
None of this negates the fact that we spend more than we take in.
Even fiat currency is based on perceived value, and "printed" money--even if its an electronic chit sent from one government entity to another--causes monetary inflation. What is "monetary inflation?" This could give us a perfect storm debt swap bond collapse when the bubble unwinds. :giggle: What bonds? What does it mean for a bond to "collapse?" What will cause those bonds to collapse in that way? You must love those Austrians Jack. :) Most Austrians are stuck on anachronisms like the money multiplier, loanable funds theory, etc. |
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Originally Posted by Scrappy Jack
(Post 929499)
I know this is a waste of time with Cord, but maybe other readers will get something from the information. As long as the US runs a persistent Trade deficit, if the Private Sector wants to run a surplus (save more than it spends), the Government Sector must run a deficit (spend more than it takes in). This is a mathematic relationship. I can send you the spreadsheet with the data.
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Here are some more "money printing" fun facts to share with you friends. Dollar Index on 09/19/2011: 77.14 Gold price on 09/19/2011: $1803 per ounce Dollars "printed" in past year according to US Treasury: $65 TRILLION Dollar Index on 09/19/2012: 79.05 Gold price on 09/19/2012: $1770 per ounce Dollar is up. Gold is down. But don't worry...dollar debasement and inflation are coming all you gold lovers! Really, I swear! |
is the dollar still worth less than the canadian?
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Originally Posted by braineack
(Post 929580)
is the dollar still worth less than the canadian?
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is it?
it's irrelevant the the gold lost a tiny bit of value, but the dollar happened to gain back a little bit of losses without a trend to recover? hey look, the same thing happened in 2008: https://www.miataturbo.net/attachmen...ine=1348180104 oh no, derp derp derp derpu dpefre pfd safsafdsa 2012: http://goldsilverworlds.com/wp-conte..._1970-2012.gif I like jagged lines with trends. tell me about the power of a dollar vs gold again? |
Originally Posted by cordycord
(Post 929613)
irrelevant!
As jacked up as America has been, "luckily" the world is also going through its own melt down. One plays on the other. However, one can only play the ponzi scheme so long before the numbers catch up. All this short-term debt if restructured to historic rates means an extra $300 billion per year in interest payments per point. As Timmy Geithner said, "What if we have a bond sale and nobody shows up?" For Jack, let's unwind this ponzi balloon. :) |
Brain: The point is with all of that $65 TRILLION printed, gold is down slightly and dollar is up slightly. Also, 1 USD = ~0.97 CDN. With all of that MONEY PRINTING!!!11!!one!!uno!! shouldn't there be massive monetary inflation?!
Cord - Why in the name of Dinosaur-Riding Jesus would the US ever "restructure" its sovereign debt? Either you are using that term wrong or I am misunderstanding what you mean. Also, if "nobody shows up" to a US Treasury auction, it means the primary dealers have revolted and you have a full-fledged currency rejection (and riots in the street, etc). That also probably means the US has lost a war on domestic soil or has had a complete government takeover by some sort of dictator or military coup. |
Originally Posted by Scrappy Jack
(Post 929630)
Cord - Why in the name of Dinosaur-Riding Jesus would the US ever "restructure" its sovereign debt? Either you are using that term wrong or I am misunderstanding what you mean.
Also, if "nobody shows up" to a US Treasury auction, it means the primary dealers have revolted and you have a full-fledged currency rejection (and riots in the street, etc). That also probably means the US has lost a war on domestic soil or has had a complete government takeover by some sort of dictator or military coup. As for nobody showing up to an auction, that was Tax Cheat Timmy Geitner's question, not mine. I'm going to assume that he's got more inside information that even you Jack. Why would he say something like that during the debt ceiling crisis? We'll have another debt ceiling debate here soon--along with the "fiscal cliff" in January. Might that cause Timmy to ask the question again? |
Originally Posted by cordycord
(Post 929713)
My mistake. Our debt is manageable now because interest rates are low. Should those "A's" become "b's", we'll be in a world of hurt.
As for nobody showing up to an auction, that was Tax Cheat Timmy Geitner's question, not mine. I'm going to assume that he's got more inside information that even you Jack. Why would he say something like that during the debt ceiling crisis? They are the government and they are here to help. :idea: |
Originally Posted by Scrappy Jack
(Post 929798)
And what will cause the interest rates on that debt to rise? Understanding the mechanics is important. :)
"Tax Cheat Timmy," appointee of Obama? No way he - or Obama who said the USA was going to be "out of money" unless the debt ceiling was raised - have political designs. Same with the Congressional Republicans who talk about us being "bankrupt" and the "next Greece." No way they could be spreading wrong information in order to manipulate gullible electorates. They are the government and they are here to help. :idea: |
Falling down the ladder
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4chan surprisingly gets something right about politics:
https://www.miataturbo.net/attachmen...ine=1348248728 |
lol at obama caring about nukes.
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Food Stamps
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National disgrace.
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turnaround is fair play :)
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