Discussion in 'Economics' started by peilthetraveler, May 4, 2011.
I hope Visa and Mastercard raises our limit soon. This image is as of today...
Would be nice if every time we came close to maxing out our credit cards you could just make a quick simple no hassle phone call to Visa, mastercard or even american express and have them raise your credit limit so that not only could you spend more, but you wouldnt have to worry about your credit score getting all fucked up, you know....but it seems there is no worries when it comes to the debt ceiling because in the next few weeks it will shine greater than before with even more room to spend even more trillions!!!!!!
No need to worry, they said everything will be taken care of in the next 10 years or so, its only trillions!!!!
those official figures are bullshit... some private investigative reporters found that the actual debt is somewhere between 60 and 200 Trillions... a newborn baby is stuck with over a half million $ of debt...
At the current rates of interest people will be owned forever unless they chose to chew off a limb to get out of the trap, euphamistically speaking. Reguardless of the numbers the cultural acceptence of high interest debt is the norm. The chinese are starting to get to turned onto a similar system.
I choose not to play the CC game and it makes things difficult but there are work arounds. Debt bondage has only a few ways out and does not work in the long run. The global payment transfer system is set up to become cash free and when it does I would want to be an owner of V or MA.
Chinese are stupid
they are holdign $3 Trillion dollars and it is losing its value fast
You have to be an idiot to hold USD nowadays
What choice do they have? We import their stuff and we export our dollars to them. Their entire economy is built on them importing dollars, which ultimately have to be repatriated back to the US in some fashion.
More or less they have to continue to buy our debt.
the Chinese are buying less debt, it's being picked up by the UK and other closer allies.
they may be "stuck" with what they have, but they have seen a problem, and they have responded to it-
let's not jump to conclusions as to the intelligence, they have created both economic growth and diplomatic persuasion with something they created and made available 'from nothing' . . .
As for our debt, I see no behavior that would prevent another increase of debt ceiling.
It comes down to where the work is being done on a macro sense. Throughout human history wealth is built on the backs of others. The game only last for so long because the credit card industry is akin to the poverty industry. Somebody one day will comes up witha better system it is inevitable.
The chinese will also hold onto power for so long. Their populus is already begining to "Westernize" In 2 to 3 generations the Chinese will be complaining about how Africans stole thier jobs.
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