Debt of our destruction

[saved]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

 

[Ringel05]

 

[hangover]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

Not even close to impossible. Tax corporations at 90% and it's paid off in ten years or so. The only ones that can pay the debt off, are the ones with the money.

 

[Moonglow]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

Not even close to impossible. Tax corporations at 90% and it's paid off in ten years or so. The only ones that can pay the debt off, are the ones with the money.

I'm still waiting for a rich one to trickle on me...

 

[Toddsterpatriot]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

It is now impossible to pay off our national debt.

No it isn't.

That means at some point in the near future we have to default.

No we don't.

What a stupid article.

 

[Toddsterpatriot]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

Not even close to impossible. Tax corporations at 90% and it's paid off in ten years or so. The only ones that can pay the debt off, are the ones with the money.

Tax corporations at 90% and it's paid off in ten years

You're even dumber than the author of the article.

 

[Jomama]

I'm a total debt worrywart and make a living restructuring corporate debt, but where have you been all this time when our debt has doubled in the last 6 years, on vacation to another planet?

1. National debt is interesting if you're not the US. As much as I fear bond vigalante's it hasnt happened and we;re much further from that catastrophe than we've been in the last 6 years. Obama's amazing 2% growth rate has helped and the deficit is not growing as fast as it was.

2. Personal and business debt is a case by case issue without catastrophic consequences. Each issue gets solved one by one, just as it has over the last 6 years when the rates of personal and corporate default were much greater.

3. There is no personal or corporate linchpin or domino that will set off collapse. That's been proven beyond the point of conjecture. US national debt is solved by QE, printing money and all sorts of other tools plus i dont think the world will ever let the US default because it would be worldwide oblivion. If, say, China was ready to call US debt, they would restructure it vs assured mutual destruction.

Id like to see some comeuppance on the whoreish lives we lead in the US but it's not going to happen abruptly. Dont waste your time thinking about it.

 

[hangover]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

Not even close to impossible. Tax corporations at 90% and it's paid off in ten years or so. The only ones that can pay the debt off, are the ones with the money.

Tax corporations at 90% and it's paid off in ten years

You're even dumber than the author of the article.

I know you are, but what am I.....NA NA NA NA NA! Pft!

 

[oldfart]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

Not even close to impossible. Tax corporations at 90% and it's paid off in ten years or so. The only ones that can pay the debt off, are the ones with the money.

I'm still waiting for a rich one to trickle on me...

"Big Al is ready to be trickled on!"

 

[oldfart]

I'm a total debt worrywart and make a living restructuring corporate debt, but where have you been all this time when our debt has doubled in the last 6 years, on vacation to another planet?

Interesting post. And welcome aboard!

1. National debt is interesting if you're not the US. As much as I fear bond vigalante's it hasnt happened and we;re much further from that catastrophe than we've been in the last 6 years. Obama's amazing 2% growth rate has helped and the deficit is not growing as fast as it was.

I was one of the few in 2008-2010 who were making fun of bond vigilantes and confidence fairies. Both are in the back of the third aisle between the unicorns and the winning lottery tickets. How so many people who preach the sanctity and efficiency of markets could persist years in the face of contrary evidence from those markets is beyond me. I'm sure they keep their Confederate bonds in their mattresses.

The growth rate has been stunted by historical standards and Christine Romer has been proven right. There has been a permanent decline in potential GDP as the result of our policies and Obama is responsible to a lesser degree for this.

2. Personal and business debt is a case by case issue without catastrophic consequences. Each issue gets solved one by one, just as it has over the last 6 years when the rates of personal and corporate default were much greater.

Agreed. The massive mistake was to exempt very large financial institutions from the resolution process. The one time when Andrew Mellon about not interfering is the one exception we made and the results were what Mellon generally predicted. Apparently no one has read "Lords of Finance" (Geithner claims he started to read it but stopped when he became Treasury Secretary; had he read it he might have a clue as to what a Treasury Secretary is supposed to do), or for that matter Walter Bagehot.

I would disagree on one issue: we still have huge systemic risk in the financial system and the big players have only been encouraged to seek out even higher risks. 2007--9 will happen again.

3. There is no personal or corporate linchpin or domino that will set off collapse. That's been proven beyond the point of conjecture. US national debt is solved by QE, printing money and all sorts of other tools plus i dont think the world will ever let the US default because it would be worldwide oblivion. If, say, China was ready to call US debt, they would restructure it vs assured mutual destruction.

The problem does not involve the national debt. No country that borrows in its own currency is at risk for the kind of shit Greece and Spain are going through. But the risk of a world wide economic collapse is very real. Like in Liquat Ahamed's book mentioned above, the best efforts of very competent men may not be enough to save economic institutions grounded in a senseless system doomed to self-distruct. (No, I am not a Marxist. I am referring to the psychology of massive bubbles in a boom and bust cycle with an inevitable Minsk moment.)

Enjoy.

 

[EdwardBaiamonte]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

Not even close to impossible. Tax corporations at 90% and it's paid off in ten years or so. The only ones that can pay the debt off, are the ones with the money.

total idiot liberal does not know that all costs are passed on to consumers

 

[EdwardBaiamonte]

save economic institutions grounded in a senseless system doomed to self-distruct..

so name the most obvious institution or admit to being a liberal dope!!

 

[hangover]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

Not even close to impossible. Tax corporations at 90% and it's paid off in ten years or so. The only ones that can pay the debt off, are the ones with the money.

total idiot liberal does not know that all costs are passed on to consumers

That statement is so fucking stupid, you've taken being a moron to a whole new level. It's like saying that corporations are going to make the poor and middle class pay off an $18 trillion debt. If corporations did what you say NO ONE COULD AFFORD TO BUY ANYTHING! A LOAF OF BREAD WOULD COST A THOUSAND DOLLARS! Here's a clue.....You can't make a silk purse out of a sows ear. But you can make 18 trillion silk purses out of U.S. corporations.

 

[EdwardBaiamonte]

. It's like saying that corporations are going to make the poor and middle class pay off an $18 trillion debt.

dear, corporations are going to make their customers pays for what they buy. They make them pay more for a Rolls Royce than a bicycle, for example, because the Rolls costs more. All costs, including taxes to pay off national debt, would be passed on to customers. Do you understand? A corporation is a tax collector not a cost payer.

Perhaps you can post on fridge and review everyday with family and friends until you grasp the concept?

 

[hangover]

. It's like saying that corporations are going to make the poor and middle class pay off an $18 trillion debt.

dear, corporations are going to make their customers pays for what they buy. They make them pay more for a Rolls Royce than a bicycle, for example, because the Rolls costs more. All costs, including taxes to pay off national debt, would be passed on to customers. Do you understand? A corporation is a tax collector not a cost payer.

Perhaps you can post on fridge and review everyday with family and friends until you grasp the concept?

Well gee thanks for showing that this country is owned by super criminals. Bend over and crack a smile, and let those corps drive that shaft deep in your ass. I can tell you love it.

 

[EdwardBaiamonte]

Well gee thanks for showing that this country is owned by super criminals.

if I showed that I'll pay you $10,000 . Bet or run away with your liberal tail between your legs.

 

[hangover]

Well gee thanks for showing that this country is owned by super criminals.

if I showed that I'll pay you $10,000 . Bet or run away with your liberal tail between your legs.

You declared it, pay up. No bet needed. But we both know you have no honor.

 

[bripat9643]

It is now impossible to pay off our national debt. That means at some point in the near future we have to default. At that point we will become like many third world nations with a military rule as our constitution will be set aside, as individuals we will lose just about everything we have, crime will be out of control, and this nation will never rise from its fall.
It Is Mathematically Impossible To Pay Off All Of Our Debt Zero Hedge

Not even close to impossible. Tax corporations at 90% and it's paid off in ten years or so. The only ones that can pay the debt off, are the ones with the money.

When has any tax increase ever been used to pay down the debt?

 

[EdwardBaiamonte]

You declared it, .

If I did I'll pay you $10,000. Bet or admit to being a typical liberal liar.