- Feb 8, 2001
Once money becomes this fake, all one can really do is watch out for themselves. Damn honesty, integrity, etc.I've given up on caring about the debt. It is SO large it will never get back to 0 at this point. Both sides love to spend albeit on different things, but one side likes to lie about it.
I don't care how much money we owe, Berzerker60. I care that the amount of money we owe, is ridiculous, and it makes money fake.Except, of course, individually we owe nothing. The nation, backed by the faith of the world economy that keeps buying its bonds at sub-inflation rates, not to mention the most absurdly overpowered military ever, owes a large but manageable amount. It would be better if that amount were lower relative to GDP, but it's not at a crisis state. The point being, comparisons to personal finance are fundamentally wrong. It's just a different thing.
We wouldn't want zero debt long-term, it would mean we're allocating resources poorly. If I'm building a road that's planned to last 40 years, it's much more fair to take out a loan that we'll pay off over those 40 years rather than pay it upfront. That way the people using the road are those paying for it. That also frees up current money for other more immediate affairs like disaster relief or so forth.
This is happening, right now, Berzerker.How can we be on the losing end? That only happens if the world stops believing in America's credit, which would take some sort of apocalyptic disaster in which case no bill collectors are coming for your share of the national debt. If America's economy dies, so does every other economy in the world. A funny part of globalization is that it's no longer an 'us vs. them' game, as evidenced by everyone praying the Euro Zone gets its shit together. It's a 'we're in this together, let's all grow' deal.
Anyway, as I said, no one owes anything individually. Usually analogies between business and government finance are crap, but here's one that sort of works: If Microsoft gets $2 trillion in debt tomorrow and goes out of business, Bill Gates doesn't owe $2 trillion divided by his ownership stakes. Everyone, especially the people that lent the money, are just shit outta luck.
if i had no idea about american history, and didnt know who anyone is, just by looking at that graph the first thing i would say is "who is this bush asshole"
The federal government's credit rating was indeed downgraded, but interest rates have not gone up. A 2-year treasury note yields all of 0.23%; a 30-year note yields <3%. If you adjust for inflation, people are paying the government to hold their money.This is happening, right now, Berzerker.
There are hundreds or thousands of people that look at America's Credit, and we were just downgraded.
We get to pay MORE INTEREST on the fake money.
People aren't stupid.
I havent given up on anything. I just havent heard a good reason to vote for Romney...Hes not my type of guy. Not voting for him and not sorry he isnt going to win.It matters very much, Shehatesme.
People that'd vote for Obama, have given up...
People that'd votte for Romney, hope we can assert ourselves as indiviuduals again.