Is the national debt of the United States significantly a practical joke?

[Independent thinker]

That may well be one possible method but here in Canada if a five hundred dollar per month Unconditional but Taxable Basic Minimum Income Supplement was paid out to all forty one million Canadians and was financed the way that the Bank of Canada was used from 1938 to 1974 then the Canadian federal deficit should begin to be PAID DOWN by twenty billion dollars per month after about three months or so for that money to turn over within the economy three times and thus be taxed back into the treasury.

If a five hundred dollars USA Unconditional but Taxable Basic Minimum Income Supplement was paid out to all three hundred and thirty million USA citizens then once that money turns over about four to five times in the USA economy then the USA federal deficit should begin to be PAID DOWN by one hundred and sixty five billion dollars per month, [you Americans pay less income tax than we Canadians do].

The key is to create this UBI Supplement in the same way that President Lincoln did to finance the Civil War.



Canada had an excellent Bank of Canada Policy that is thought to have been based on the President Lincoln Greenback Monetary Policy Experiment but P. M. Pierre E. Trudeau was somehow convinced to abandon that excellent policy in 1974.

Wow. You live in a parrallel universe with different math than we have here.

 

[22lcidw]

Personally I am of the belief that a boom in real estate prices, [especially of land and homes in rural USA or semi-rural USA], would be the best way to take the problem of re-defining the national debt of the USA into a realm where it would be easier to understand and deal with.

The ownership of gold and precious metals is the domain of the top one to five percent of the population but all of us aspire to own a home as well as the land that that home is built on.

Zone1 Thread 'Reverse Engineering of a Real Estate Boom and Paying off the USA national debt?'

Monday at 9:11 AM

For about fifty of my sixty six years I have been rather obsessively studying Theology, Spirituality and especially near death experience accounts.

I believe that the gifted Pastor David Wilkerson in 1973 was given a prediction for the future of the USA that theoretically can be Reverse Engineered?

[Pastor David Wilkerson] :

"There will be a sudden rush to buy farms, ranches, and homes in the country.

Thousands will attempt to flee from cities, hoping that a return to the land and
nature will provide security. There will be a growing urge to "get away from it
all"---and much money...

• DennisPTate
• Replies: 0
• Forum: Clean Debate Zone

There is no way homes are worth what we see. From the early 1970's and the official reality of seeing deficits in the federal budget to now, deficits have risen and home prices the same. Printing up the currency.

 

[DennisPTate]

Wow. You live in a parrallel universe with different math than we have here.

The Neo-Malthusians are not a stupid bunch of people and they are not entirely incorrect in their assertions that the Productivity of USA and Canadian workers could threaten the environment.

The Neo-Malthusians do tend to dominate BigBanking and they fear that USA economic freedom for workers may destroy their plans to save the Environment from us blue collar workers.

Their mathematics is actually based somewhat on hints that were even given in the Jewish Bible.

"And the LORD came down to see the city and the tower, which the children of men builded.
And the LORD said, Behold, the people is one, and they have all one language; and this they begin to do: and now nothing will be restrained from them, which they have imagined to do." (Genesis 11)

Is human economic productive capability essentially without a cap, top or limit?

Yes.

What does human productivity depend on?

Money!

Ecclesiastes 10:19
"A feast is made for laughter, and wine maketh merry: but money answereth all things. "

There is a big difference between interest rates of 6%, 10%, or 20%, when one speaks of compound interest. The following are the sums that $1.00 will amount to in 100 years, loaned at the rates of interest mentioned and compounded annually:

at 1%............................$2.75
at 2%..........................$19.25
at 3%........................$340.00
at 10%..................$13,809.00
at 12%............ $1,174,406.00
at 18%............$15,145,207.00
at 24%..........$251,799,494.00

And at 50%, it would eat up the world! There is a formula to know approximately the amount of time it will take for an amount, at compound interest, to double; it is the “Rule of 72”: You divide 72 by the interest rate. It gives you the number of years it will take for the amount to double. Thus, an interest rate of 10% will cause a loan to double in 7.2 years (72 divided by 10).

Another example of compound interest: 1 cent borrowed at 1% compound interest at the birth of Christ would amount (in 1986) to a debt of $3,821,628.40 ($3.8 million). At 2%, it is not only twice this amount that would be owed, but 314 million times this amount: 1.2 followed by 15 zeros (one billion millions of dollars!)

All this is to show that any interest asked on money created out of nothing, even at a rate of 1%, is usury. In his November 1993 report, Canada's Auditor General calculated that of the $423 billion in net debt accumulated from Confederation to 1992, only $37 billion went to make up the shortfall in program spending. The remaining $386 billion covered what it has cost to borrow that $37 billion. In other words, 91% of the debt consisted of interest charges, the Government having spent only $37 billion (8.75% of the debt) for actual goods and services.)

The public debt of the United States​

The public debt of the United States follows the same curve as Canada’s, but with figures ten times bigger

The Public-Debt Problem - Michael Journal

All the countries in the world are presently struggling with a debt problem. Third-World countries’ debt is over $1,300 billion (in 1986)

www.michaeljournal.org

 

[Toddsterpatriot]

I do admit that Americans and Canadians being able to pay off their debts and taxes will tend to produce at least some inflation in some sectors of the economy. I am of the belief though that a boom in real estate prices in rural or somewhat rural areas in the USA and Canada has a lot of positive potential?

Zone1 Thread 'Reverse Engineering of a Real Estate Boom and Paying off the USA national debt?'

Monday at 9:11 AM

For about fifty of my sixty six years I have been rather obsessively studying Theology, Spirituality and especially near death experience accounts.

I believe that the gifted Pastor David Wilkerson in 1973 was given a prediction for the future of the USA that theoretically can be Reverse Engineered?

[Pastor David Wilkerson] :

"There will be a sudden rush to buy farms, ranches, and homes in the country.

Thousands will attempt to flee from cities, hoping that a return to the land and
nature will provide security. There will be a growing urge to "get away from it
all"---and much money...

• DennisPTate
• Replies: 0
• Forum: Clean Debate Zone

I'll put you down as a yes vote on hyperinflation.