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GH
ParticipantIt seems to me that while our federal debt is a really big deal. $13 trillion it is the personal, corporate and municipal debt ($50 trillion) that is causing all of our current problems. How do we increase tax and not cause MORE personal and business defaults and then have to pay yet more trillions to bail them out, and worse have a higher percentage of zero in tax to collect? Are you aware that while your home loan may be around 5% the loan you took out so you could have a city worker and a policeman and a fireman and a teacher with a nice plump pension is at 8% (more if the fund lost money). Yes 8% is the amount we are legally on the hook for, since the numbers are based on an 8% rate of return. Seems like a lot more interest than one would usually agree to in this economy eh?
Face it, it really does not matter how the debt is distributed, if to individuals or companies or the federal govt. Current bailouts simply redistributed existing debt rather than increasing it. What matters is that very little of it will ever be repaid unless the FED prints money day and night. If you are a retiree or have ANY kind of pension then a considerable amount of this money lost will be yours
The other big issue is this business of leverage, where a single $1 debt default seems to cascade into tens of dollars in losses. Clearly in this world we need to see the first dollar not default rather than a whole cascading chain of credit swaps and derivatives going bad.
ParticipantIt seems to me that while our federal debt is a really big deal. $13 trillion it is the personal, corporate and municipal debt ($50 trillion) that is causing all of our current problems. How do we increase tax and not cause MORE personal and business defaults and then have to pay yet more trillions to bail them out, and worse have a higher percentage of zero in tax to collect? Are you aware that while your home loan may be around 5% the loan you took out so you could have a city worker and a policeman and a fireman and a teacher with a nice plump pension is at 8% (more if the fund lost money). Yes 8% is the amount we are legally on the hook for, since the numbers are based on an 8% rate of return. Seems like a lot more interest than one would usually agree to in this economy eh?
Face it, it really does not matter how the debt is distributed, if to individuals or companies or the federal govt. Current bailouts simply redistributed existing debt rather than increasing it. What matters is that very little of it will ever be repaid unless the FED prints money day and night. If you are a retiree or have ANY kind of pension then a considerable amount of this money lost will be yours
The other big issue is this business of leverage, where a single $1 debt default seems to cascade into tens of dollars in losses. Clearly in this world we need to see the first dollar not default rather than a whole cascading chain of credit swaps and derivatives going bad.
ParticipantIt seems to me that while our federal debt is a really big deal. $13 trillion it is the personal, corporate and municipal debt ($50 trillion) that is causing all of our current problems. How do we increase tax and not cause MORE personal and business defaults and then have to pay yet more trillions to bail them out, and worse have a higher percentage of zero in tax to collect? Are you aware that while your home loan may be around 5% the loan you took out so you could have a city worker and a policeman and a fireman and a teacher with a nice plump pension is at 8% (more if the fund lost money). Yes 8% is the amount we are legally on the hook for, since the numbers are based on an 8% rate of return. Seems like a lot more interest than one would usually agree to in this economy eh?
Face it, it really does not matter how the debt is distributed, if to individuals or companies or the federal govt. Current bailouts simply redistributed existing debt rather than increasing it. What matters is that very little of it will ever be repaid unless the FED prints money day and night. If you are a retiree or have ANY kind of pension then a considerable amount of this money lost will be yours
The other big issue is this business of leverage, where a single $1 debt default seems to cascade into tens of dollars in losses. Clearly in this world we need to see the first dollar not default rather than a whole cascading chain of credit swaps and derivatives going bad.
ParticipantIt seems to me that while our federal debt is a really big deal. $13 trillion it is the personal, corporate and municipal debt ($50 trillion) that is causing all of our current problems. How do we increase tax and not cause MORE personal and business defaults and then have to pay yet more trillions to bail them out, and worse have a higher percentage of zero in tax to collect? Are you aware that while your home loan may be around 5% the loan you took out so you could have a city worker and a policeman and a fireman and a teacher with a nice plump pension is at 8% (more if the fund lost money). Yes 8% is the amount we are legally on the hook for, since the numbers are based on an 8% rate of return. Seems like a lot more interest than one would usually agree to in this economy eh?
Face it, it really does not matter how the debt is distributed, if to individuals or companies or the federal govt. Current bailouts simply redistributed existing debt rather than increasing it. What matters is that very little of it will ever be repaid unless the FED prints money day and night. If you are a retiree or have ANY kind of pension then a considerable amount of this money lost will be yours
The other big issue is this business of leverage, where a single $1 debt default seems to cascade into tens of dollars in losses. Clearly in this world we need to see the first dollar not default rather than a whole cascading chain of credit swaps and derivatives going bad.
ParticipantIt seems to me that while our federal debt is a really big deal. $13 trillion it is the personal, corporate and municipal debt ($50 trillion) that is causing all of our current problems. How do we increase tax and not cause MORE personal and business defaults and then have to pay yet more trillions to bail them out, and worse have a higher percentage of zero in tax to collect? Are you aware that while your home loan may be around 5% the loan you took out so you could have a city worker and a policeman and a fireman and a teacher with a nice plump pension is at 8% (more if the fund lost money). Yes 8% is the amount we are legally on the hook for, since the numbers are based on an 8% rate of return. Seems like a lot more interest than one would usually agree to in this economy eh?
Face it, it really does not matter how the debt is distributed, if to individuals or companies or the federal govt. Current bailouts simply redistributed existing debt rather than increasing it. What matters is that very little of it will ever be repaid unless the FED prints money day and night. If you are a retiree or have ANY kind of pension then a considerable amount of this money lost will be yours
The other big issue is this business of leverage, where a single $1 debt default seems to cascade into tens of dollars in losses. Clearly in this world we need to see the first dollar not default rather than a whole cascading chain of credit swaps and derivatives going bad.
ParticipantMe thinks WikiLeaks should have chosen their battles and fought the ones they could win. Having gone after a superpower they are being spanked and I doubt they will be outing anyone. A shame, because I suspect the bank info would have had a lot more relevance to us than some foreign policy stuff, none of which is particularly damning! I would love to see some really incriminating material published about a major bank published. Chase would be my preference since I have always had good experiences with BOFA, but then…
ParticipantMe thinks WikiLeaks should have chosen their battles and fought the ones they could win. Having gone after a superpower they are being spanked and I doubt they will be outing anyone. A shame, because I suspect the bank info would have had a lot more relevance to us than some foreign policy stuff, none of which is particularly damning! I would love to see some really incriminating material published about a major bank published. Chase would be my preference since I have always had good experiences with BOFA, but then…
ParticipantMe thinks WikiLeaks should have chosen their battles and fought the ones they could win. Having gone after a superpower they are being spanked and I doubt they will be outing anyone. A shame, because I suspect the bank info would have had a lot more relevance to us than some foreign policy stuff, none of which is particularly damning! I would love to see some really incriminating material published about a major bank published. Chase would be my preference since I have always had good experiences with BOFA, but then…
ParticipantMe thinks WikiLeaks should have chosen their battles and fought the ones they could win. Having gone after a superpower they are being spanked and I doubt they will be outing anyone. A shame, because I suspect the bank info would have had a lot more relevance to us than some foreign policy stuff, none of which is particularly damning! I would love to see some really incriminating material published about a major bank published. Chase would be my preference since I have always had good experiences with BOFA, but then…
ParticipantMe thinks WikiLeaks should have chosen their battles and fought the ones they could win. Having gone after a superpower they are being spanked and I doubt they will be outing anyone. A shame, because I suspect the bank info would have had a lot more relevance to us than some foreign policy stuff, none of which is particularly damning! I would love to see some really incriminating material published about a major bank published. Chase would be my preference since I have always had good experiences with BOFA, but then…
ParticipantI would agree NK is and really always has been a Chinese problem. They must serve some purpose in the Chinese scheme of things perhaps just a buffer against the West or I am pretty sure China could have removed the current set of tyrants long ago.
Of course as a test of US response, China may be quietly testing the Taiwan waters to see if the coast looks clear.
Regardless I doubt the US has the will or the resources to foot a third war right now.
ParticipantI would agree NK is and really always has been a Chinese problem. They must serve some purpose in the Chinese scheme of things perhaps just a buffer against the West or I am pretty sure China could have removed the current set of tyrants long ago.
Of course as a test of US response, China may be quietly testing the Taiwan waters to see if the coast looks clear.
Regardless I doubt the US has the will or the resources to foot a third war right now.
ParticipantI would agree NK is and really always has been a Chinese problem. They must serve some purpose in the Chinese scheme of things perhaps just a buffer against the West or I am pretty sure China could have removed the current set of tyrants long ago.
Of course as a test of US response, China may be quietly testing the Taiwan waters to see if the coast looks clear.
Regardless I doubt the US has the will or the resources to foot a third war right now.
ParticipantI would agree NK is and really always has been a Chinese problem. They must serve some purpose in the Chinese scheme of things perhaps just a buffer against the West or I am pretty sure China could have removed the current set of tyrants long ago.
Of course as a test of US response, China may be quietly testing the Taiwan waters to see if the coast looks clear.
Regardless I doubt the US has the will or the resources to foot a third war right now.
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