http://www.forbes.com/sites/johntharvey/2015/03/01/balancing-the-budget-economic-catastrophe/ Along with every conservatives "we need the government to just leave the economy alone" argument. Do you not understand how modern economics work?
Yes, those who have property (possessions) which have true intrinsic value see their wealth increase, while those trying to accumulate wealth of their own are finding it difficult to do so as their income is being consumed by the rising cost of living as the fiat currency used to make purchases and savings for their old age is being devalued as more of it is printed and/or brought into existence electronically. And those who are most dependent on government are costing us more to maintain at an acceptable level of support. Curious, but a house bought and property taxed in 1953 for a price equivalent to the value of about 370 ounces of gold at that time, currently is valued, being property taxed and up for sale at a price equivalent to about the value of 375 ounces of gold today. Although the dollar is no longer backed by gold, everything we need and want for our survival is priced relative to the value of the dollar which government diminishes perpetually, and that makes debt acceptable and wealth achievable not by keeping dollars, but instead using them to acquire things which will only increase in value as the currency devalues. For the majority if people there are few things available to them that they can purchase that will grow in value without any cost to them. A house or property is about the only investment that the majority of people might see as an investment having intrinsic value, but like I mentioned above, over time the property taxes can become untenable requiring them to sell, be taxed on any profit, and find more affordable living quarters. Debt is good only for government, those who live in debt, and those who have great wealth already. The disparity between the haves and the have nots will only grow under this 'modern economic' system, but as long as the haves keep government acting as the provider for the growing number of have nots, it will keep and increase its control over the people, democratically, as the voters will continue to vote for the candidates who they feel will give them the most, debt be damned, the next generation can pay it down if they want. As long as each of the developed world governments work with one another to stave off hyperinflation by one or another we will each gradually see the developing world populations taking over more of the production we each consume. I'm just curious as to what the minimum U.S. wage might rise to when the worlds population has become more equal?
It's a matter of priorities. The real issue, however, is all the criminal laws, regulations, and various departments regulating all sorts of stupid things. The laws need to be reworked first, and then the savings will follow.
Yup. A fiat currency requires constant debt or it collapses. Even government debt. The only way to add $7000 dollars to the economy is to borrow $7000 from a bank who just virtually makes the number up. By the time I'm an old man I will be paying $17 for a coke and my $100,000 or whatever savings I saved will only be worth $10,000. Debt can never actually be repaid and for the govt to repay the debt would require it only chipping away at the economy to give back more Fed dollars than it originally printed into circulation.
Folks tend to be more concerned with external debt. If we owe more money to other nations this year than last, that's not just an accounting trick. It means America produced less than we consumed. That's a problem.
