Skip to comments.America: Do not pay your debts.
Posted on 10/16/2013 3:15:15 PM PDT by Eurotwit
Do NOT pay your debt.
We as conservatives play a great weight on personal morals. We keep our word and we pay our debt.
America has been in a deficit since the 50's.
The debt has grown and grown, and now is unsustainable.
You are now debt slaves. You can never pay off the debt to the internatinal bankers.
Rich, huge and forever in servitude.
That is the American future right now.
You have two options:
1. Going along with Obama, ObamaCare and raise the debt ceiling even further. This will work for another couple of decades, but as Jefferson said, you are making your own kids into serfs in the homeland their forefathers created for them.
2. Say"Hell No"
America is the "breadbasket" of the world. You are self sustained. Tell the Chinese and the international bankers to go f. them selves.
You will survive. You have the resources, oil and gas, human brain power, the creative power of freedom.
You are the masters of your own future.
You just need to tell the Obama and the Congress to get the frakk out of it.
Let the people searching for happiness be in charge again.
Iceland, albeit a tiny nation, just did that.
They put the criminal bankers in jail.
They thought: We have fish, we have geothermals, we will survive.
Now, the bankers are on their feet offering them credit again.
Do not fear the bankers.
Be Americans, take control.
You are the last great hope of the World.
Iceland is a complete mess by the way, and this post is idiotic.
The debt ceiling will be raised because there aren’t enough conservatives to stop it. The problem isn’t “international bankers”, it’s citizens in the West (Europe led the way) voluntarily opting for socialism. Period.
Indeed. Leave the debt to the kids.
The pentultimate in weakness, slithery sleaziness and neglectful abuse.
Let’s figure out who’s debt it actually is.
I am Norwegian. I know Iceland fairly well. It was our only colony.
Iceland IS doing well, but you cannot compare it to anything as the size of Iceland is the size of an average suburb outside of Colorado Springs.
It is tiny.
But, the warnings were the same. If they defaulted it would mean eternal doom for them
I am a published ecoomist scientist.
I agree, btw, that socializing is what is killing us.
Socialism is unsustainable and a crime against human nature. IMHO.
So I would only advocate a default. Like I would do for a dead beat family that you realise you you have messed up.
Maybe a big crash is needed.
But, Americans could get through it so easy. Now, the biggest energy producer thanks to American enguinity, the worlds corn and grain producer. Worried about any nation shutting off your tech. They cannot.
Because it is American.
So, I agree with you in one way.
The problem is the citizens of the West.
But, you have large organizations that prey on our weakness.
And, give us money to perpetuate the problem.
Like a good drug dealer.
btw. a default would kill your stockmarket for a while.
But, is there a Chinese Apple to take its place?
I do not think so.
So, the good American businesses will survive and thrive.
Correct. Over 50% of the voting population has figured out it can vote itself largesse our of the nation's treasury, so it's just a matter of time now. My only hope is to delay it until I'm dead.
Don't know about a couple of decades. To my knowledge, no other country has carried a now 18 trillion dollar obligation.
I don't even know if there is 18 trillion dollars in this world, let alone a chance it will ever get paid back...I' think the world is going to wake up sooner rather than later.
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits the public treasury with the result that a democracy always collapses over lousy fiscal policy, always followed by a dictatorship. The average of the world�s great civilizations before they decline has been 200 years. These nations have progressed in this sequence: From bondage to spiritual faith; from faith to great courage; from courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to Complacency; from complacency to apathy; from apathy to dependency; from dependency back again to bondage.
I think the man was on to something here, alas, we ignore at out own peril....
Problem is, their profits and business come from over seas, they can't survive here.
Who is the author of “A democracy cannot exist.......”?
Alexander Fraser Tyler, Cycle Of Democracy (1770)
Raising the debt ceiling had nothing to with paying/not paying the interest of outstanding US T-bills. Default was never going to happen. It was a lie and you bought into it.
In subverting our Constitutional Republic, who are the self-identified enemies of the state?
Oh, I can think of one...
All republicans have done was to agree with democrats to open a new, higher limit MasterCard to pay the interest on the Visa, while still going to shows and the movies and out to dinner.
I don’t think they had 18 trillion in liability, they just suffered from massive dollar devaluation, hyper inflation.
Zimbabwe couldn’t muster a billion in real assets, let alone hope to guarantee a 100 trillion debt note..
I am talking about the opposite.
Leave your kids a free nation, like you inherited.
Not let them be slaves.
You are right.
The ancient world went through the same thing.
I still hope that our civ. can can be different, and if anyone can help lead the world it is Free Americans.
Otherwise you will join the UK and France on the skrapheap of history.
It seems to me that I read where American personal debt was decreasing about the time that Obama ramped up the dollar printing presses into high gear.
Ron, I am a strategic consultant.
But, I work on micro projects.
i.e. This car?
Revenue streams and costs.
But, America is special.
You will be allowed to run up your debt.
You do not understand.
Your masters love debt
It make you their slaves.
Imagine having the entire American population as slaves for Eternity.
It makes some people very happy
Exactly, as illustrated in my 2nd paragraph
Sarcasm doesn’t do well w/o the tag
I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. ...
I am European, but got my education at one of your great institutions.
A, an unfree European I perhaps see what you are turning into.
And. it might even be worse than old Europe. :(
The welfare mamas and the food stamp crowd are nothing compared to the damage done by the crony capitalists, the too big to fail banksters, and the corporate welfare whores. As long as we keep our eyes shut to what is really being done, there will be no opposition to the real evil.
I wish I couls show you this graph ron.
It is the world’s gdp matched with the world’s capital.
Since the 80’s or so world capital has increased exponentionally.
I did part of my masters paper on this capital inflation.
But, you can imagine it never happened, and call me a Ron Paulian.
Btw. The real American economy still produces enough to out compete most nations on the planet.
But, who wants a real economy?
Explain it to me.
I am a micro economics guy.
You get it.
The big bankers love the food stamp crowd.
You pay for it, and they get rich from it.
And you are right.
Every Empire so far has fallen.
The Ancient Greeks laughed of Cassandra.
We here at FReerepublic have focussed on Europe and their mistakes.
Which are huge.
Or how wilt thou say to thy brother, Let me pull out the mote out of thine eye; and, behold, a beam is in thine own eye?
5 Thou hypocrite, first cast out the beam out of thine own eye; and then shalt thou see clearly to cast out the mote out of thy brother’s eye.
The funny thing about fiat currencies is that they have no intrinsic value of their own so there’s nothing to say that a Zimbabwe dollar is ‘worth’ more or less than ours aside from our collective faith that says a US dollar is worth more than a Zimbabwe dollar.
At the end of the day both currencies are faith-based and are both being inflated into irrelevancy.
This is where the US has an immense advantage.
Even a “new” US dollar would have instant credibility.
Because, America is special....
I can't say I agree with that, Zimbabwe didn't have a 16 trillion dollar GDP, ergo the faith in the currency
But suffice it to say, your assessment with fiat currency imo is spot on.
I agree, children in the US will be born with massive debt. Economic slavery.
I'd like to see it if you can locate it....I am always open to learning,
Btw. The real American economy still produces enough to out compete most nations on the planet.
I know that and agree, but in reality, what is it based on?
We certainly do not manufacture hard good, we off nothing tangible, it is all financial and based on balance sheets....which in the right hands can project anything you want them too.
Our economy is based on injecting 85 billion in funny money every month, numbers that do not get reflected in the overall "debt"...what happens when that stops?
Your post makes no sense.
Show us the connection between the debt ceiling, Iceland, conservatives and Europe opting for socialism.
Your post will upset the brainless Neo-Con Trotskyites here on FR who believe that everyone should pay off the debt run up by the leftist politicians, the thieving fascist banks and corporations and the EBT obumaphone crowd.
Could you explain that a little further? Because that was my understanding, and I realize there is a whole lot of misinformation out there.
If no deal were passed, then everyone holding T-bills would still get their interest?
Would the gov’t just print money, or would the creditors have to wait?
Oh - I think I’m getting it now. Too little of the government is designated as “non-essential?”
The tax revenue comes in regardless of the debt ceiling. The interest on the debt is “essential” spending. Do you understand now that the whole “default” thing was bogus scare tactic, kind of like Nazi propaganda, fear tactic? A lie.
tax revenue > [interest+medicare+SS+defense] (although civilian defense were furloughed). Adding Fed pensions or income security would put it in deficit.
What the heck is income security?
You are missing the point. Forget all other spending. The revenue that comes in has to cover, and does indeed cover, the interest on the debt. The US Govt pays that bill first. It always has. Always will. It is like a family paying the mortgage first THEN the other bills.
But it would appear that — even using the gov’t own definition of “essential” — that it’s quite likely they were making those bills too (active military - yes, civilian military no, Social Security, Medicare; no one could retire during the furlough (although were retirees paid?), and I’m not sure what “income security” is.
>> Lets figure out whos debt it actually is.
Doubtful we’ll get away with billing for old work.
Yes. Levin covered this recently.
I think I like you...even if you do claim to be a “twit”! (just teasing about the twit part)