Thursday, September 23, 2010

Re: [off_the_edge] Re: americas debt is far far higher than acknowledged

I don't think you understand governments

You should read public choice theory

Governments spend all they can because that is the source of profit and power for them

When they cannot tax more because of political opposition or because it is stifling productivity, they borrow or inflate the currency

The US government, more than Australia, has always had people willing to accept its currency and promissory notes even as it increased it debts and inflated its currency, because it was a military superpower and the largest economy.  It also engineered international monetary arrangements by government intervention to favor itself.  This government created regime is now collapsing as it always had to.

For more information on this I suggest you go to the website of the Foundation for Economic Education, www.FEE.org, a libertarian group that has been predicting all of this in extreme detail since the 40s and 50s

On Wed, Sep 22, 2010 at 9:50 AM, Julieanne <singingthesea@gmail.com> wrote:
 

Shouldn't your government have prepared for this? It's not like it's been a secret over the last five decades that baby boomers are aging and they are a big population.....

Perhaps borrowing huge amounts of money for pointless wars on innocent people has been a bit of a foolish choice

You have no idea what politics i favor, if any at all, and your associating me with liars is a little bit of spin, designed to discredit me Bruce, you just cant help yourself with this spin habit, and are so used to employing these dodgy, worthless tricks, don't even know you are doing the manipulation.



--- In off_the_edge@yahoogroups.com, Bruce Majors <majors.bruce@...> wrote:
>
> Julianne, our politicians, including especially the ones you seem to favor,
> routinely lie and say this debt does not exist. Much of the debt is from
> retirement and medical programs for the aged. Europe and many other
> countries are going to face the same crisis at the same time
>
> On Tue, Sep 21, 2010 at 4:55 PM, Julieanne <singingthesea@...> wrote:
>
> >
> >
> >
> > http://www.news.com.au/business/breaking-news/us-government-hiding-true-amount-of-debt/story-e6frfkur-1225926567256
> >
> > Inst it time you americans all pulled your heads out of the sand and called
> > for action on this instead of carrying on about being more highly taxed and
> > sending your youth to kill people over seas?
> >
> > your tax rates are incredible low pay higher taxes and get yourself the
> > hell out of debt, call for your govgernments to get rid of this debt instead
> > of borrowing more and more money to fight stupid pointless and truly fucking
> > evil wars
> >
> >
> >
>

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