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BlueTurtle

Registered: Feb 2012
Posts: 553

02-11-12 08:24 PM

It's a pretty sweet gig if you on the right side of the equation. Forget further generations, life is short; spend, spend, spend, enjoy while others wonder why you have a 200k job with 200k pension forever and benefits, etc... If it's against the law, have congress change the law. Let others spend your lifetime complaining, while you live in luxury. How about a workshop in Hawaii for 100k? Sure, taxpayers won't figure it out for a few years.

Sure, I'm jealous. Same jealousy as when INTC had 90% gross profit margins, athletes get 200 million contracts, and senators end up being worth 100 million while representing the "honest man".

Good luck fixing this system.

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377OHMS

Registered: Feb 2005
Posts: 6497

02-11-12 09:13 PM

Didn't you guys take economics at university?

The first thing they teach is that countries are *not* like households or individuals.

Individuals die and that means they must pay off their debts and have some financial conclusion to their lives.

A country is perpetual (well, hopefully) and so the debt doesn't have to be payed off, ever, it must instead be managed so that it does not grow out of proportion to GDP which is why you generally see debt expressed in terms of ratio-to-GDP.

For fucks sake, you guys are posting the "Economics" thread!

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JJacksET4

Registered: Jun 2007
Posts: 649

02-11-12 10:02 PM

Quote from 377OHMS:

Individuals die and that means they must pay off their debts and have some financial conclusion to their lives.

Really, tell that to the credit card companies that write off millions of debt each year from consumers who die without a penny to their name.

Also, many consumers file for a thing you may have heard of called "Bankruptcy" - so no "that means they must pay off their debts" is not true.

And you are trying to be all high and mighty on this thread?

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Random.Capital

Registered: Jan 2005
Posts: 3848

02-11-12 10:09 PM

Quote from 377OHMS:

A country is perpetual...

On which planet is that, exactly?

Because it sure isn't Planet Earth.

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oldtime

Registered: Jun 2011
Posts: 7357

02-11-12 10:17 PM

i think many are confusing fiat money with commodity money.

take the household budget

you forgot to include the price of paper and ink

we can create as much money as we need, the only constraint is inflation

there is however another issue, and that is faith in the dollar, more importantly the world's desire to use it as a reserve currency

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dtan1e

Registered: Sep 2006
Posts: 778

02-11-12 10:27 PM

if history is any lesson, inflation always lead to total collapse

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