Understanding debt… Anywhere!

[davidd]

Scott

can someone please explain why this is a good thing???

http://cnsnews.com/news/article/treasury-secretary-geithner-lift-debt-limit-infinity

please i am at a loss for words

is it a strategy??? it’s almost like the debt is make believe and does not exist

or

it’s like someone who is going to die and is spending everything they can because they are never going to pay this back anyway.

am I missing something

anyone????

[camby]

[quote=”davidd”]Scott

can someone please explain why this is a good thing???

http://cnsnews.com/news/article/treasury-secretary-geithner-lift-debt-limit-infinity

please i am at a loss for words

is it a strategy??? it’s almost like the debt is make believe and does not exist

or

it’s like someone who is going to die and is spending everything they can because they are never going to pay this back anyway.

am I missing something

anyone????

[/quote]

like getting a credit card and they keep raising your limit, even though you do not pay even interest, let alone principal….and these are the “professionals”

[davidd]

[/quote]

like getting a credit card and they keep raising your limit, even though you do not pay even interest, let alone principal….and these are the “professionals”[/quote]

yes your right but do they know something that we don’t??

it’s like someone found out they have 18 months to live so they rack up all the debt they can get.. because they will not pay it

I hope Scott would chime in with his acumen.

[Andrew]

You are clearly a very intelligent human being davidd and you probably know you’re trying to make sense of something that does not and can not make sense

As humans we try to “make sense” of everything that happens and as you well know, it doesn’t work.

Every time the market moves we have to have some sort of a reason why it moved… The talking heads will tell us ‘something’ which is rarely the real reason but, it makes people feel better.

The fact of the matter is that America has been deliberately destroyed. As far as I can see, it is now mathematically IMPOSSIBLE for the U.S. to “resolve” their debt problems in which case, the people pulling the strings will have to resort to something more drastic and infinutely more bloody than we have ever seen before in order to regain control when the real sh*t hits the fan which probably isn’t far off..

You might find this article of interest: [url=http://www.thedailybell.com/1481/The-US200-Trillion-Debt-Which-Cannot-Be-Named]The US$200-Trillion Debt Which Cannot Be Named[/url]

Any responsible parent will be horrified reading that [url=http://www.activistpost.com/2012/09/the-student-loan-debt-bubble-is.html]outstanding student loan debt has surpassed $1 trillion[/url]. Our kids are sold into slavery the moment they sign those student loan forms.

And now… “[url=http://www.huffingtonpost.com/c-cryn-johannsen/student-loan-debt-suicides_b_1638972.html ]Suicide is the dark side of the student lending crisis[/url] and, despite all the media attention to the issue of student loans, it’s been severely under-reported.”

What does all of this mean?

This short video clip sums up EXACTLY what debt is all about:

[size=200][b]”You control the debt,You control everything!”[/b][/size]

[johnnyh]

They don’t call them banksters for nothing! By the way, who owns the central bank in Costa Rica. Costa Ricans?
Got gold/ Got silver?

[davidd]

you know I have just come to realization that this…

all… this… crazyness

is intentional. call me paranoid

but I cannot believe that this is all due to innocent incompetence.

there is something going on and there is a specific direction that some group is taking the country.

intentionally

that movie clip summarized it perfectly

when you control debt you control everything

[aguirrewar]

as an example;

many years ago while working for PPG my boss told me that I would never get a promotion to a higher level

I asked him WHY???

he told me;

you are not married
don’t have a mortgage
no kids and NO DEBTS

basicaly he told me that I had nothing the company could hold me HOSTAGE for and why promote someone that COULD eventually leave for the competition with all that knowledge

the more debt the more rules the system places on you

[waggoner41]

[quote=”davidd”]Scott

can someone please explain why this is a good thing???

http://cnsnews.com/news/article/treasury-secretary-geithner-lift-debt-limit-infinity

please i am at a loss for words

is it a strategy??? it’s almost like the debt is make believe and does not exist

or

it’s like someone who is going to die and is spending everything they can because they are never going to pay this back anyway.

am I missing something

anyone????

[/quote]

You are missing nothing and I won’t even bother with the link since this is another insane idea coming from the political/financial idiots who are running the country.

There is one, and only one, solution to the financial problems that congress has been intent on creating for the past 50+ years.

Simply take the debt ceiling, debt payment and annual budget out of the hands of congress by Constitutional amendment.
Sounds simple doesn’t it? The problem is that congress has to call for a Constitutional convention to amend the Constitution. Congress will never willingly do so to limit their responsibilities.
The convention would have to be forced by a grass roots petition movement in every state to its state legislature to call for a convention. It requires 35 states to force congress to call for the convention and 38 states to ratify an amendment.

With the financial situation that the U.S. faces now this is what such a Constitutional amendment would be like:
1 ~ Limit federal financing to 20½% of the GDP of the previous year.
2 ~ Require 2½% of the above 20½% to be paid toward debt reduction.
3 ~ Require a set aside of ½% of the above 20½% for national emergencies.
4 ~ Require congress to finance the federal government within the remaining 17½% of the above 20½% limit.
It would require 42 years to pay the gross public debt to zero and the above 20½% would be reduced to 18% of the GDP of the previous year.

On another note:
Social Security and Medicare would be “off budget” and both would have to be changed to reflect changes in both the amount paid in and by raising the age of qualification.
When SS was enacted in 1935 the age required to receive benefits was 65 years. The average lifespan of an individual born in 1935 was 61.7 years. Today our average lifespan is over 78 years.
You can read the entire SS Act of 1935 here: http://www.ssa.gov/history/35act.html and the portion specific to investment limitations and retirement qualifications here: http://www.ssa.gov/history/35act.html#TITLE II
Life Expectancy at Birth 1930–2010 can be found here: http://www.infoplease.com/ipa/A0005148.html

[sprite]

Is the debt real? We are talking about slips of paper and digital journal entries between banks and governments. MONEY IS A CONCEPT, the main function of which is control. Debt is also a concept, the main function of which is control. In this sense, it is not real. We could just erase it all. It’s called a Jubilee and has been done throughout history.

[davidd]

[quote=”sprite”]Is the debt real? We are talking about slips of paper and digital journal entries between banks and governments. MONEY IS A CONCEPT, the main function of which is control. Debt is also a concept, the main function of which is control. In this sense, it is not real. We could just erase it all. It’s called a Jubilee and has been done throughout history.
[/quote]

sprite

ok now i am hearing some different perspectives. is debt real??? would there be any collateral damage to the people by just erasing the debt???

interesting control mechanism this DEBT.. I don’t have any personaly experience with debt because at a young age my father always taught me

Debt was a form of slavery

so all my life I always built business then bought things in cash. all my houses here and properties are all paid in cash.

never had a credit card.. debit card yes but no credit card

i have been taught that if i did not have the money to buy it I would either

augment my wants

or

save the cash to buy it.

so this whole debt thing is fascinating but dangerous tool in the wrong hands like currently

[sprite]

I have one credit card for car rentals. How do you buy airline tickets and car rentals and make hotel reservations? I tried a cash only and debit card only approach and it is impossible to do in this monetary paradigm.

Debt can be engaged and disengaged at will. Corporations do this as a matter of course all the time. If debt is looked at in this manner, it no longer has a controlling force.

[davidd]

[quote=”sprite”]I have one credit card for car rentals. How do you buy airline tickets and car rentals and make hotel reservations? I tried a cash only and debit card only approach and it is impossible to do in this monetary paradigm.

Debt can be engaged and disengaged at will. Corporations do this as amateur of course all the time. If debt is looked at in this manner, it no longer has a controlling force.[/quote]

Sprite

I use debit for all airline purchases as I usually keep $5000 in that card at all time in the event i needed it.

embarrassingly… I have travled cuba, panama, Nicaragua, figi islands, costa rica, guatamala el salvador, bahamas, jamaica, and various parts of the U.S.

and I have never rented a car 🙂

[sprite]

Since we are discussing debt and money (in the case of the Dollar, one and the same thing), be aware that these concepts are not physical and as such can be manipulated right out of your possession by banks and governments (also pretty much one and the same thing these days). I keep only enough wealth in paper and digital form to cover my monthly expenses. Debit cards are digital, of course. I wouldn’t keep any additional wealth in a debit card beyond what my immediate needs require.

[davidd]

[quote=”sprite”]Since we are discussing debt and money (in the case of the Dollar, one and the same thing), be aware that these concepts are not physical and as such can be manipulated right out of your possession by banks and governments (also pretty much one and the same thing these days). I keep only enough wealth in paper and digital form to cover my monthly expenses. Debit cards are digital, of course. I wouldn’t keep any additional wealth in a debit card beyond what my immediate needs require.

[/quote]

it’s only $5000 for pete’s sake.. geeez.. $5000 can’t buy you $5000 anymore lol

[Author]

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