US Debt Clock

Discussion in 'Economics & Trade' started by TheAngryLiberal, Jan 28, 2019.

  1. LafayetteBis

    LafayetteBis Well-Known Member Donor

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    The "FREEBIES" that America needs seems oblivious to people like you.

    Here are two that are absolutely necessary:
    *Free national healthcare because our lifespan has just gone DOWN again one year. My lifespan in Europe is now four years longer than yours in the US.
    *We are leaving (in fact, we have left) the Industrial Age and are entering the Information Age. Manufacturing Industries are hiring only 12% of the workforce, and the rest are in Service Industries work. For which a much higher level of postsecondary education is necessary. Today, only 45% of our kids are going on to that level and graduating. Those who don't must do with a high-school diploma and as a result will have to live at much lower income-levels.

    Of course, if you don't particularly care to live so long, in good-health and with a fine salary-level, then that is entirely your choice.

    It's not one anyone with smarts is making today - but of that 45% who go on to postsecondary education, only 60% are completing their studies. And they are the ones going on to the far better-paying jobs (that have future tenure).

    We are now in a Brave New World (brought to us by the Internet) and it is nothing like the past ...
     
    Last edited: Oct 6, 2019
  2. Longshot

    Longshot Well-Known Member

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    You forgot free housing, beer, and food.
     
  3. ARDY

    ARDY Well-Known Member Past Donor

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    yeah, the (Obama) deficit gonna ruin the country for sure
    But trump not only assured us he would eliminate the deficit.... heck, he was gonna pay off the entire debt. What a joker he is
     
  4. Longshot

    Longshot Well-Known Member

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    The executive does not have the power of the purse. Only the legislative branch does.
     
  5. a better world

    a better world Well-Known Member

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    Correct. Post gold standard, money is not a real commodity, and has no intrinsic value, unlike a real commodity eg an orange, (which has intrinsic value, as food).

    Nothing new in that:

    During the 13th century, Marco Polo described the fiat money of the Yuan Dynasty in his book The Travels of Marco Polo.[18][19]
    "All these pieces of paper are issued with as much solemnity and authority as if they were of pure gold or silver... and indeed everybody takes them readily, for wheresoever a person may go throughout the Great Khan's dominions he shall find these pieces of paper current, and shall be able to transact all sales and purchases of goods by means of them just as well as if they were coins of pure gold".

    — Marco Polo, The Travels of Marco Polo

    Obviously the significant factor for a community is the quantity of goods, not the quantity of money.
     
    Last edited: Oct 6, 2019
  6. Longshot

    Longshot Well-Known Member

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    Are you saying that people don't value dollars? If that is so, please forward all the dollars you own to me. :)
     
  7. a better world

    a better world Well-Known Member

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    If you forward all the possessions you own to me, we might have a deal...depending my opinion of the desirability of those possessions.….

    Hint: value is, inter alia, partly in the labour required to produce the goods or service, and partly in subjective desirability. eg, Facebook would suddenly drop to 1/100 of its present value, if everyone valued it as I do.
     
    Last edited: Oct 6, 2019
  8. Longshot

    Longshot Well-Known Member

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    So you value dollars? Right. I thought so. We economists call that an economic good. When more of a good is produced, the price falls. Simple economics.
     
  9. a better world

    a better world Well-Known Member

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    Only for convenience, NOT intrinsic value. Dollars, inter alia, allow future purchasing of desired goods and services to be conveniently stored. So what?

    You an economist? Nothing like ignoring Keynes, I suppose.

    Money is not a good. (In fact, it's "the root of all evil", didn't you know?)

    Re "simple economics": obviously it's best if all working age members of a community are engaged in useful activity. Obviously. Your NAIRU fiction is just that - fiction.
     
  10. jay runner

    jay runner Well-Known Member

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    There's only 12 years left and then the climate kills everybody anyway.
     
  11. a better world

    a better world Well-Known Member

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    Regardless of climate (and I wouldn't mind if it got warmer where I live...) the sooner we exit the filthy fossil industry the better.

    The major vehicle manufacturers know this, that's why they plan to exit diesel engines entirely within the decade, as the major European cities regulate poisonous and carcinogenic emissions from fossil fuel engines (nothing to do with CO2 which we exhale, and plants love...).

    But don't panic: the resources needed to transit to clean green exist, without impinging on your bank account. In fact your bank account is totally irrelevant to the task at hand.
     
  12. ARDY

    ARDY Well-Known Member Past Donor

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    Yes and when you control the house, and senate and president.... the president comes up with the plan

    I find it hilarious that the party of personal responsibility never seems able to take responsibility

    btw, the president does not control stock prices.... and yet seems eager to take credit when it suits him
     
  13. hudson1955

    hudson1955 Well-Known Member Past Donor

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    The debt went ballistic under Obama. The money he spent did not generate income for us taxpayers, seniors, etc. We screwed the Medical providers, gave private insurance companies a pass and his promises didn't plan out
    I am convinced that given 4more years Trump will change the Government finances, do away with worthless programs and protect our Countries Borders. Outgrow jobs and business that will result in more income for the Country.

    I am not willing to go back to the Status Quo..
     

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