Founder Of Reaganomics Says That “Without A Revolution, Americans Are History”

[teaboy]

It seems to me that other countries with huge deficits(e.g. Greece, UK, etc) have accepted the inevitable decline in their citizen’s relative wealth and have already decided to “tighten their belts” by increasing taxes and reducing spending/services.

It seems common sense to me that we can’t “spend our way out of the deficits” here, so eventually we’ll need to increase taxes and reduce spending/services, too.

Surely the only question is when and how this might come. Will it be over the next 12 months or the next 12 years?
Whatever happens, maybe I’m naive, but I feel like it’ll most likely be a long slow decline than some huge sudden drop. Statements like “hyperinflation” and “worthless [US] currency” in the original article are attention-grabbing exaggerations which are highly unlikely imho and distract from discussions on the more likely occurences.

Perhaps the undue sense of entitlement Americans have is the reason why few politicians are brave or stupid enough to publicly take this stance (i.e. increase taxes and reduce spending/services) today.
Hmm, if so, then my guess is over the next 12 years…

tb

[GH]

few politicians are brave or stupid enough to publicly take this stance (i.e. increase taxes and reduce spending/services) today.

Greece is very different from the US in that they do not control the currency of the debt they hold, placing them in the same position Argentina was in a decade or so back. The US can and I believe WILL simply devalue their currency.

Remember – the money has already been spent. It is GONE!!! Frittered away on Big Screen TV’s, Hummers, Marble Counter tops etc. The only question now is WHO has to pay? The creditors or the debtors or both? In a deflationary scenario, the creditors will receive a small percentage of their debt at a high value. In an inflationary scenario, they will receive most at a devalued amount. Either way, pain is baked in. CREDIT AND INDEBTEDNESS IS NO WAY TO LIVE OR RUN A COUNTRY!!!!!!!!!

[GH]

few politicians are brave or stupid enough to publicly take this stance (i.e. increase taxes and reduce spending/services) today.

Greece is very different from the US in that they do not control the currency of the debt they hold, placing them in the same position Argentina was in a decade or so back. The US can and I believe WILL simply devalue their currency.

Remember – the money has already been spent. It is GONE!!! Frittered away on Big Screen TV’s, Hummers, Marble Counter tops etc. The only question now is WHO has to pay? The creditors or the debtors or both? In a deflationary scenario, the creditors will receive a small percentage of their debt at a high value. In an inflationary scenario, they will receive most at a devalued amount. Either way, pain is baked in. CREDIT AND INDEBTEDNESS IS NO WAY TO LIVE OR RUN A COUNTRY!!!!!!!!!

[GH]

few politicians are brave or stupid enough to publicly take this stance (i.e. increase taxes and reduce spending/services) today.

Greece is very different from the US in that they do not control the currency of the debt they hold, placing them in the same position Argentina was in a decade or so back. The US can and I believe WILL simply devalue their currency.

Remember – the money has already been spent. It is GONE!!! Frittered away on Big Screen TV’s, Hummers, Marble Counter tops etc. The only question now is WHO has to pay? The creditors or the debtors or both? In a deflationary scenario, the creditors will receive a small percentage of their debt at a high value. In an inflationary scenario, they will receive most at a devalued amount. Either way, pain is baked in. CREDIT AND INDEBTEDNESS IS NO WAY TO LIVE OR RUN A COUNTRY!!!!!!!!!

[GH]

few politicians are brave or stupid enough to publicly take this stance (i.e. increase taxes and reduce spending/services) today.

Greece is very different from the US in that they do not control the currency of the debt they hold, placing them in the same position Argentina was in a decade or so back. The US can and I believe WILL simply devalue their currency.

Remember – the money has already been spent. It is GONE!!! Frittered away on Big Screen TV’s, Hummers, Marble Counter tops etc. The only question now is WHO has to pay? The creditors or the debtors or both? In a deflationary scenario, the creditors will receive a small percentage of their debt at a high value. In an inflationary scenario, they will receive most at a devalued amount. Either way, pain is baked in. CREDIT AND INDEBTEDNESS IS NO WAY TO LIVE OR RUN A COUNTRY!!!!!!!!!

[GH]

few politicians are brave or stupid enough to publicly take this stance (i.e. increase taxes and reduce spending/services) today.

Greece is very different from the US in that they do not control the currency of the debt they hold, placing them in the same position Argentina was in a decade or so back. The US can and I believe WILL simply devalue their currency.

Remember – the money has already been spent. It is GONE!!! Frittered away on Big Screen TV’s, Hummers, Marble Counter tops etc. The only question now is WHO has to pay? The creditors or the debtors or both? In a deflationary scenario, the creditors will receive a small percentage of their debt at a high value. In an inflationary scenario, they will receive most at a devalued amount. Either way, pain is baked in. CREDIT AND INDEBTEDNESS IS NO WAY TO LIVE OR RUN A COUNTRY!!!!!!!!!

[Jim Jones]

[quote=briansd1][quote=CA renter]
We need to enact tariffs to offset the profit margins gained by exploiting cheap labor around the world. Otherwise, it is a race to the bottom, which should be clear to everyone by now (but for some reason, too many people refuse to see it!).[/quote]

Not if you look at all humans equally.

From a world humanitarian perspective, as long as more people are being lifted out of poverty than fall into poverty, then the system is working.

If 10 million Americans fall into poverty, but 100 million Chinese gain education and a “middle-class” life, it’s a net positive gain for humanity.

Actually, if Americans can no longer afford “Carlsbad-like” neighborhoods and everything in San Diego deteriorates to “El Cajon-like” and people have to move to apartments, it still won’t be the end of the world.[/quote]

Brian,

I don’t want to question your patriotism but this argument is counter to our national objectives and in IMHO the reason why we are in fact an independent nation in the first place. Would you subject your own children and grandchildren to a lifetime of poverty and serfdom to further global utilitarianism? If you are I would like to hear you own your previous statement rather than waxing poetically about the future of this nation.

[Jim Jones]

[quote=briansd1][quote=CA renter]
We need to enact tariffs to offset the profit margins gained by exploiting cheap labor around the world. Otherwise, it is a race to the bottom, which should be clear to everyone by now (but for some reason, too many people refuse to see it!).[/quote]

Not if you look at all humans equally.

From a world humanitarian perspective, as long as more people are being lifted out of poverty than fall into poverty, then the system is working.

If 10 million Americans fall into poverty, but 100 million Chinese gain education and a “middle-class” life, it’s a net positive gain for humanity.

Actually, if Americans can no longer afford “Carlsbad-like” neighborhoods and everything in San Diego deteriorates to “El Cajon-like” and people have to move to apartments, it still won’t be the end of the world.[/quote]

Brian,

I don’t want to question your patriotism but this argument is counter to our national objectives and in IMHO the reason why we are in fact an independent nation in the first place. Would you subject your own children and grandchildren to a lifetime of poverty and serfdom to further global utilitarianism? If you are I would like to hear you own your previous statement rather than waxing poetically about the future of this nation.

[Jim Jones]

[quote=briansd1][quote=CA renter]
We need to enact tariffs to offset the profit margins gained by exploiting cheap labor around the world. Otherwise, it is a race to the bottom, which should be clear to everyone by now (but for some reason, too many people refuse to see it!).[/quote]

Not if you look at all humans equally.

From a world humanitarian perspective, as long as more people are being lifted out of poverty than fall into poverty, then the system is working.

If 10 million Americans fall into poverty, but 100 million Chinese gain education and a “middle-class” life, it’s a net positive gain for humanity.

Actually, if Americans can no longer afford “Carlsbad-like” neighborhoods and everything in San Diego deteriorates to “El Cajon-like” and people have to move to apartments, it still won’t be the end of the world.[/quote]

Brian,

I don’t want to question your patriotism but this argument is counter to our national objectives and in IMHO the reason why we are in fact an independent nation in the first place. Would you subject your own children and grandchildren to a lifetime of poverty and serfdom to further global utilitarianism? If you are I would like to hear you own your previous statement rather than waxing poetically about the future of this nation.

[Jim Jones]

[quote=briansd1][quote=CA renter]
We need to enact tariffs to offset the profit margins gained by exploiting cheap labor around the world. Otherwise, it is a race to the bottom, which should be clear to everyone by now (but for some reason, too many people refuse to see it!).[/quote]

Not if you look at all humans equally.

From a world humanitarian perspective, as long as more people are being lifted out of poverty than fall into poverty, then the system is working.

If 10 million Americans fall into poverty, but 100 million Chinese gain education and a “middle-class” life, it’s a net positive gain for humanity.

Actually, if Americans can no longer afford “Carlsbad-like” neighborhoods and everything in San Diego deteriorates to “El Cajon-like” and people have to move to apartments, it still won’t be the end of the world.[/quote]

Brian,

I don’t want to question your patriotism but this argument is counter to our national objectives and in IMHO the reason why we are in fact an independent nation in the first place. Would you subject your own children and grandchildren to a lifetime of poverty and serfdom to further global utilitarianism? If you are I would like to hear you own your previous statement rather than waxing poetically about the future of this nation.

[Jim Jones]

[quote=briansd1][quote=CA renter]
We need to enact tariffs to offset the profit margins gained by exploiting cheap labor around the world. Otherwise, it is a race to the bottom, which should be clear to everyone by now (but for some reason, too many people refuse to see it!).[/quote]

Not if you look at all humans equally.

From a world humanitarian perspective, as long as more people are being lifted out of poverty than fall into poverty, then the system is working.

If 10 million Americans fall into poverty, but 100 million Chinese gain education and a “middle-class” life, it’s a net positive gain for humanity.

Actually, if Americans can no longer afford “Carlsbad-like” neighborhoods and everything in San Diego deteriorates to “El Cajon-like” and people have to move to apartments, it still won’t be the end of the world.[/quote]

Brian,

I don’t want to question your patriotism but this argument is counter to our national objectives and in IMHO the reason why we are in fact an independent nation in the first place. Would you subject your own children and grandchildren to a lifetime of poverty and serfdom to further global utilitarianism? If you are I would like to hear you own your previous statement rather than waxing poetically about the future of this nation.

[Jim Jones]

[quote=CONCHO]Man I just have to keep doing this to save us all time. Here are the arguments that we will see in this thread:

4) Americans are overpaid. What, you think you *deserve* a roof over your head? There’s someone in Thailand that lives in a shanty that can do your job cheaper, bub!

OK so I’ve saved us all the trouble of what we would normally have to spend time typing and reading here. Now we can go back to work (if we still have any ha ha ha).[/quote]

CONCHO,

I like your prediction of Brian’s statement which followed.

[quote=Brian]If 10 million Americans fall into poverty, but 100 million Chinese gain education and a “middle-class” life, it’s a net positive gain for humanity.

Actually, if Americans can no longer afford “Carlsbad-like” neighborhoods and everything in San Diego deteriorates to “El Cajon-like” and people have to move to apartments, it still won’t be the end of the world.”[/quote]

[Jim Jones]

[quote=CONCHO]Man I just have to keep doing this to save us all time. Here are the arguments that we will see in this thread:

4) Americans are overpaid. What, you think you *deserve* a roof over your head? There’s someone in Thailand that lives in a shanty that can do your job cheaper, bub!

OK so I’ve saved us all the trouble of what we would normally have to spend time typing and reading here. Now we can go back to work (if we still have any ha ha ha).[/quote]

CONCHO,

I like your prediction of Brian’s statement which followed.

[quote=Brian]If 10 million Americans fall into poverty, but 100 million Chinese gain education and a “middle-class” life, it’s a net positive gain for humanity.

Actually, if Americans can no longer afford “Carlsbad-like” neighborhoods and everything in San Diego deteriorates to “El Cajon-like” and people have to move to apartments, it still won’t be the end of the world.”[/quote]

[Jim Jones]

[quote=CONCHO]Man I just have to keep doing this to save us all time. Here are the arguments that we will see in this thread:

4) Americans are overpaid. What, you think you *deserve* a roof over your head? There’s someone in Thailand that lives in a shanty that can do your job cheaper, bub!

OK so I’ve saved us all the trouble of what we would normally have to spend time typing and reading here. Now we can go back to work (if we still have any ha ha ha).[/quote]

CONCHO,

I like your prediction of Brian’s statement which followed.

[quote=Brian]If 10 million Americans fall into poverty, but 100 million Chinese gain education and a “middle-class” life, it’s a net positive gain for humanity.

Actually, if Americans can no longer afford “Carlsbad-like” neighborhoods and everything in San Diego deteriorates to “El Cajon-like” and people have to move to apartments, it still won’t be the end of the world.”[/quote]

[Jim Jones]

[quote=CONCHO]Man I just have to keep doing this to save us all time. Here are the arguments that we will see in this thread:

4) Americans are overpaid. What, you think you *deserve* a roof over your head? There’s someone in Thailand that lives in a shanty that can do your job cheaper, bub!

OK so I’ve saved us all the trouble of what we would normally have to spend time typing and reading here. Now we can go back to work (if we still have any ha ha ha).[/quote]

CONCHO,

I like your prediction of Brian’s statement which followed.

[quote=Brian]If 10 million Americans fall into poverty, but 100 million Chinese gain education and a “middle-class” life, it’s a net positive gain for humanity.

Actually, if Americans can no longer afford “Carlsbad-like” neighborhoods and everything in San Diego deteriorates to “El Cajon-like” and people have to move to apartments, it still won’t be the end of the world.”[/quote]

[Author]

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