[GH]

The US has a weird dynamic when it comes to ‘printing away” debt since a large percentage of the population are bond holders in the form of Social Security recipients. Of course there is not enough money in the known universe to make good on all these promises, but it is at the very least interesting to see the various factions at work…

Greece… Now that is another matter since the money man is in Germany and France…. Bummer that if you are a government worker.

If I were Greece I would be advertising to folks like me seeking to exit the US with advanced software tech and avoid US super tax…

[GH]

My father and I used to have endless conversations about money and debt and how it is simply not possible to have money creating money.

Today we have trillions more in debt than currency to repay that debt.

To resolve this dilemma we can borrow more and kick the can down the road.

We can print the currency to repay the debt.

We can default.

Because the debt is now at a tipping point and deflation is setting in growing our way out is looking increasingly unlikely.

[GH]

[quote=CA renter]Next, we’ll off-shore all the tech jobs, then the medical services jobs that don’t need to be performed here. Then, we’ll off-shore all our financial services jobs, since there are plenty of people around the world who would gladly do those jobs for a tiny fraction of what our financiers are being paid. Of course, we need to off-shore our legal work. A well-trained attorney in India can do what a lawyer does here for 1/10 of the cost. Best of all, we won’t have to provide health benefits or 401ks or any other kind of benefit for anyone, since there are billions of people around the world who can easily take every single American job and do it for a fraction of the cost!

Life will be grand when every American is working for $10/day!!!! All our problems will be solved![/quote]

Are we as far from this goal as your post might have one believe?

X-rays are evaluated by doctors in India
Software is primarily written in India
Most contracts and general non court room law is handled in India
Chances are your taxes are completed in India or Philippines
There is a 95% chance every item in your home is made in China

I tried to explain to my California Park Ranger brother in law he lost his job because I lost mine, but he could not see where the $10,000 a year I used to pay in California tax had anything to do with his job??? Go figure??? For the past three years I have filed a LOSS tax return which cannot go on forever so hopefully I am figuring out the new world, but the State no matter what they raise taxes to cannot get one cent out of me. The plan?

[GH]

I am curios what would happen if they simply abandoned the city charter? If the city is insolvent then in effect if can no longer exist.

At some point those supporting our govt pension system has to acknowledge out of money is out of money.

Already in many municipalities pensions considerably exceed any other aspect of the budget and as revenues continue to plummet things are only going to get worse particularly when you consider it is likely those responsible for approving pensions will continue lavish increases as things get worse.

[GH]

[quote=briansd1]Like Mitt Romney said, you can’t have simple solutions to complicated problems.[/quote]

This would contradict Occam’s razor – The simplest solutions are most often the right solution!

[GH]

I have to say for the first time since I moved to the US in 1980 I see Americans behaving like Americans.

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I picked up a real nutter one night on the 52. The guy came racing up and started tailgating and then swerved to the right and then back in behind. As I approached the 805 turn I braked hard as he swerved to the right and hit a hard turn behind to ditch the maniac catching the 805 ramp at the last possible moment.

To my surprise this was a SDPD squad car. God knows what I did to incite this level of rage but I am glad to have a car capable of evasive driving. God knows what a nutter cop may be capable of…

True story happened about 2 years ago.

[GH]

My understanding is that adding armor increases the weight of the car a lot. These kinds of vehicles often include beefier transmissions, engines etc. Protect your fuel tank, go beyond just the glass and realize most cars sheet metal will not help and while there think about how vulnerable you are to explosives?

Think realistically in the hundreds of thousands of dollars.

[GH]

[quote=poorgradstudent]The rich in this country have the most to lose if we suffer hyperinflation, so there’s no way they will let it happen. Hyperinflation destroys assets and erases debts.[/quote]

Of course by not allowing hyperinflation they will continue to see their assets devalue eventually to near zero as debtors default and hard assets, stocks etc decline in value.

I believe it in the interest of the rich who largely own hard assets to want to inflate their value not deflate.

It is Seniors on SS and fixed pensions who are fighting inflation while at the same time complaining their earnings on investments are in the crapper.

[GH]

We really need to face the fact dangerous drivers should be fined not less that a billion dollars – a serious deterrent. Those who fail to pay will be paid a visit by armed police and they and their families will be dealt with like any other armed and dangerous criminal.

Seriously though…. $500 for rolling a red light on a corner. Have we gone mad?

[GH]

Finally, Americans behaving like Americans.

Freedom is not to be taken for granted!

[GH]

Thanks for your generous contribution to the mayors pension fund 🙂

If you decide to fight look up “Mr ticket”. Apparently he has a very good track record.

[GH]

[quote=FormerSanDiegan]Dear svelte –

Your tenant has been imprisoned and has abandoned your property. He does have savings and is willing to pay the remainder of the lease, God willing. However, to do so he needs you to wire $100 from your bank account so that his lawyer, the Honorable Mr. Nairegin Macs can set up the monthly wire transfers. Please provide your banking information as soon as possible. Thanmks you and may the Lord Bless You.

Sincerely,

The Honorable Nairegin Macs, Esq.[/quote]

This sounds like a version of the Nigerian Scam.

Do NOT give your bank account or your money will disappear (ALL OF IT!!!)

[GH]

I thought this was what everyone wanted?

Privatize infrastructure.

Corporations quickly learn to make supply scarce to raise rates increasing profits.

Economy 101

[GH]

There seems to be some indications this could occur in the next few days…

Have you noticed countries that control their own currency default through inflation while those that do not default by not making payments.

Either way in a debt based economy everyone defaults.

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