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The Spread of the Debt Virus
Townhall.com ^ | May 28, 2020 | Victor Davis Hanson

Posted on 05/28/2020 4:41:31 AM PDT by Kaslin

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To: Alberta's Child

Good points. I think the whole thing is insidious.

People used to get by with a fairly simple lifestyle. And it might be called Middle Class by the standards of the day, as you indicate.

But we fell into a consumerist lifestyle. Now, it’s none of my business — I’m not saying that people shouldn’t be allowed to buy big TVs or whatever. People buy what they want. All I say (and I think it’s what you’re saying) is that people have upped the definition of Middle Class and nowadays you need to work really hard, earn a lot of money, pay a lot of taxes and buy a lot of “stuff” if you want to feel good about yourself. I guess people think that makes them happy, but I think they may be fooling themselves.

When the Fed injects trillions into the economy, and then we allow China to flood the country with a lot of cheap goods, it becomes pretty easy to inflate the Middle Class aspirations. And pretty soon everyone has a Jet Ski and 5 TVs.

I think if the country came to tolerate less debt and had less of a consumer focus, people could pay less taxes, work less and be happier. But that’s just my opinion. I’m a Conservative so I wouldn’t really want the government to force people to buy less stuff. That’s an Elizabeth Warren kind of approach. I just wish people wanted to simplify their lives.


21 posted on 05/28/2020 6:30:10 AM PDT by ClearCase_guy (If White Privilege is real, why did Elizabeth Warren lie about being an Indian?)
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To: ClearCase_guy
"But once upon a time, people could live a middle class lifestyle on one income. Healthcare was not ruinously costly. College was actually affordable. Our economy has changed. We’re all wage slaves now. Health care is killing people. College debt ruins young people’s future. Mom has to work and the kids are raised in daycare. It’s a pretty crazy system and a lot of the problem is the debt."
It used to be if a household wanted a new washer & dryer, they saved enough cash to buy or entered into a lay-away plan to pay up front. Then came the banks pushing out credit via plastic cards so that same household could just go and "buy" the washer & dryer. No waiting!
We know how that worked out. The couple eventually paid the cost of the washer & dryer plus several times more the purchase price in interest fees to the lending bank.
Saving money became outmoded and was in any event nearly impossible because what used to be extra money at the end of the month went straight to the banks as interest paid on debt. Dad's salary soon was insufficient to carry the debt load, so Mom had to work, too.
America's economy all too soon was transferred into an almost 100% debt based system. Instead of going to a bank for a home & auto loan - the big-ticket items - most Americans went to them for every purchase, via credit cards.
The banks pushed the cards as hard as possible. Example: Sending college students card applications. The nation has never been the same since.
Add in external shocks such as the US/OPEC petro-dollar scheme and ever increasing billions shoveled out in entitlements and our middle class, once the foundation of a solid America, hopelessly sank into the morass of debt payments and tax bills.
22 posted on 05/28/2020 7:47:01 AM PDT by citizen (Women are from Venus and Men are from Mars. All the other genders you make up are from Uranus.)
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To: citizen; ClearCase_guy

Because of unbridled LEGAL immigration wages are suppressed and the average American is losing ground year over year. Stop immigration and watch the standard of living go back up.


23 posted on 05/28/2020 7:51:28 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
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To: central_va

Oh, yes, illegal immigration damaged us, too. As you say, by depressing wages for Americans but also helping to fuel the rise in healthcare & entitlements. Insurance companies simply passed on the cost of near-free healthcare passed out in hospital ERs to working Americans via higher policy premiums and co-pays.

Businesses fired Americans, instead preferring reduced-wage or off-the-books workers from the illegal population.

And our socialist-minded politicians wanted ever more indigents imported into America in the hopes of securing more votes.

Sigh.


24 posted on 05/28/2020 8:04:30 AM PDT by citizen (Women are from Venus and Men are from Mars. All the other genders you make up are from Uranus.)
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While we are talking cheap, imported workers let us not forget the H1B and other foreign worker programs ousting qualified Americans from employment. grrr


25 posted on 05/28/2020 8:12:54 AM PDT by citizen (Women are from Venus and Men are from Mars. All the other genders you make up are from Uranus.)
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To: ClearCase_guy
Those that could never concede the Revolutionary War (pretty much like HRC not accepting the 2016 results) are the ones largely responsible for keeping us as slaves to pay tribute via the Federal Reserve.

Truth be told, the Federal Reserve is an extension of the Deep State's international banking that has funded such things as the combatants and war machinery on both sides of both World Wars, other wars, defensive and offensive military build-ups and the International Monetary Fund.

That private organization, the Federal Reserve was set up by eliminating resistance to the Federal Reserve in the form of Ben Guggenheim, Isador Strauss and Col. John Jacob Astor, to allow its Congressional approval on Christmas eve, 1913.

J.P. Morgan and Soros, being Crown agents, were cut from the same cloth.

As a Rhodes Scholar, WBJ Clinton was indoctrinated as to philosophy that would keep the colonies in line under the yoke of the world's richest bankers, those of the City of London.

It's gone little noticed that PDJT has placed the Federal Reserve under the US Department of Treasury. It wouldn't take much more than Paul Begala's "Stroke of the pen, law of the land. Pretty cool." to nationalize it and "retire the debt"...to ourselves!

Such an action could break the back of the Deep State, which is not to say that the DS wouldn't fight back, even militarily. Watch for missiles into 1600 and at AF1! Won't that be some kind of disclosure, however, as to who they and their mercenaries really are?! But hey, the US Central Bank should have the best interests of the US in mind, shouldn't it?

For the world's 3D chess players that were going to hand US assets and our slavery work product via a calculated depression created under cover of the human-manipulated SARS-CoV-2 over to "Third Way" China (highlighted to us by Amb.-to-China, CIA-Director GHWB in his 9/11/1991 and 9/11/1990 NWO speeches; Third Way meaning combination of socialism/communism and capitalism), would it be so inappropriate if the US citizenry were to receive compensation from those DS buzzards that have connived to collect the benefits of the sweat off our and our previous generations' brows via interest payments on the debt, inflation and corrupt politicians greedy self-ingratiation at the taxpayer trough? Those latter haven't been working for the benefit of We the People for a long time. Seeing their long-term investment in our servitude go *poof!* seems only right to me. It definitely wouldn't be We The People defaulting and it wouldn't be paying off the debt.

Call it our own answer, a "New Third Way."

26 posted on 05/29/2020 5:06:39 PM PDT by rx (Truth will out!)
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