Why we're in debt, well part of the reason.

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • Paul Markham
    Too old to care
    • Jun 2001
    • 52942
    #1

    Why we're in debt, well part of the reason.

    https://www.youtube.com/watch?v=_tyszHg96KI

    Watch it and see how screwed up our Governments are. Europeans Governments do exactly the same, the shame is the UK doesn't have programs like John Oliver to point it out.



    Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500.
    PM me for a deal. Skype Paulmarkham70
    Tags: None
    • kkkkkk
      svp get banned svp
      • Dec 2005
      • 1628
      #2
      All these feel good policies for some will come home to roost for all, and soon.

        Comment

        • Paul Markham
          Too old to care
          • Jun 2001
          • 52942
          #3




          I'm watching this guy now, side-splitting comic.



          Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500.
          PM me for a deal. Skype Paulmarkham70

            Comment

            • clickity click
              So Fecking Bummed
              • Aug 2014
              • 3682
              #4
              Originally posted by Paul Markham
              https://www.youtube.com/watch?v=_tyszHg96KI

              Watch it and see how screwed up our Governments are. Europeans Governments do exactly the same, the shame is the UK doesn't have programs like John Oliver to point it out.
              Not available in the UK..

                Comment

                • Paul Markham
                  Too old to care
                  • Jun 2001
                  • 52942
                  #5
                  Originally posted by clickity click
                  Not available in the UK.
                  I watch it on HBO and saw it last night on YT which reminded me. It's about how the US mint spends 1.7 US$ pennies to make 1 US$ penny. Spending money to make money. And the fact that no one in America wants the things.



                  Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500.
                  PM me for a deal. Skype Paulmarkham70

                    Comment

                    • kane
                      Too lazy to set a custom title
                      • Aug 2001
                      • 20684
                      #6
                      While it is a waste of money and pennies would likely be missed by very few people if they were simply cut out of the equation the amount spent on them makes up about .3% of our national debt.

                        Comment

                        • MiamiBoyz
                          fgfdftre6
                          • Oct 2012
                          • 6688
                          #7
                          Pennies are for pussies

                            Comment

                            • Paul Markham
                              Too old to care
                              • Jun 2001
                              • 52942
                              #8
                              Originally posted by kane
                              While it is a waste of money and pennies would likely be missed by very few people if they were simply cut out of the equation the amount spent on them makes up about .3% of our national debt.
                              It's only one example of how stupid politicians are, everywhere. There are many more examples of them spending money that costs more than it adds.

                              The UK is planning to spend £50bn plus on a rail line that will cost a lot more to keep running. To get people to places 20-50 minutes faster. Places most don't want to go to or live.



                              Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500.
                              PM me for a deal. Skype Paulmarkham70

                                Comment

                                • slapass
                                  Too lazy to set a custom title
                                  • Nov 2002
                                  • 14625
                                  #9
                                  Originally posted by kane
                                  While it is a waste of money and pennies would likely be missed by very few people if they were simply cut out of the equation the amount spent on them makes up about .3% of our national debt.
                                  Imagine raising productivity and wiping out .3% of the national debt so easily. It boggles the mind that no one has been able to do that.

                                    Comment

                                    • j3rkules
                                      VIP
                                      • Jul 2013
                                      • 22101
                                      #10
                                      I really like the new Muppets show...

                                        Comment

                                        • kane
                                          Too lazy to set a custom title
                                          • Aug 2001
                                          • 20684
                                          #11
                                          Originally posted by slapass
                                          Imagine raising productivity and wiping out .3% of the national debt so easily. It boggles the mind that no one has been able to do that.
                                          I don't disagree that it would be an easy way to save money. I think we should get rid of pennies and have thought so for a long time. I guess my point was that the title of this thread is that this is part of why we are in debt and I was just pointing out that while that is technically true, it is only microscopic portion of the debt.

                                            Comment

                                            • clickity click
                                              So Fecking Bummed
                                              • Aug 2014
                                              • 3682
                                              #12
                                              Originally posted by Paul Markham
                                              It's only one example of how stupid politicians are, everywhere. There are many more examples of them spending money that costs more than it adds.

                                              The UK is planning to spend £50bn plus on a rail line that will cost a lot more to keep running. To get people to places 20-50 minutes faster. Places most don't want to go to or live.
                                              Yeah like London.

                                                Comment

                                                • Paul Markham
                                                  Too old to care
                                                  • Jun 2001
                                                  • 52942
                                                  #13
                                                  Originally posted by kane
                                                  I don't disagree that it would be an easy way to save money. I think we should get rid of pennies and have thought so for a long time. I guess my point was that the title of this thread is that this is part of why we are in debt and I was just pointing out that while that is technically true, it is only microscopic portion of the debt.
                                                  It will take a lot of those microscopic wastes to wipe out the debt. The main ones are Health and Social Security, Unemployment. Which it's tough to reduce by cutting the amounts. without seeing riots on the streets.

                                                  How many of the large spends are also operated as if money grew on trees? In the UK, the attempts to introduce IT has ended in disaster and costs billions. Because the people in charge are simply out of their depth.



                                                  Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500.
                                                  PM me for a deal. Skype Paulmarkham70

                                                    Comment

                                                    • ITraffic
                                                      Confirmed User
                                                      • Jul 2013
                                                      • 2725
                                                      #14
                                                      ,,,,


                                                      ...

                                                        Comment

                                                        • shake
                                                          frc
                                                          • Jul 2003
                                                          • 4663
                                                          #15
                                                          Originally posted by Paul Markham
                                                          I watch it on HBO and saw it last night on YT which reminded me. It's about how the US mint spends 1.7 US$ pennies to make 1 US$ penny. Spending money to make money. And the fact that no one in America wants the things.
                                                          We finally got rid of pennies in Canada. Cash transactions are rounded up or down. Cents still exist in your bank account and credit card.
                                                          Crazy fast VPS for $10 a month. Try with $20 free credit

                                                            Comment

                                                            • dyna mo
                                                              just a fucking jerk
                                                              • Dec 2008
                                                              • 68184
                                                              #16
                                                              1. the op clearly fails to grasp the concept of multiple use v cost. if a penny was disposed after 1 use, then yes, it costs that. but pennies are used 1000s of times before they are disposed of. + the fact that a penny costs less than a penny to manufacturer up until very very recently.

                                                              2. the op clearly fails to grasp the concept of national debt and how it is absorbed over time by economic growth and refinancing at lower and lower rates.

                                                              3. the op clearly fails to grasp the concept that it's a bad idea to get your information from a comedy show youtube video.

                                                                Comment

                                                                • kane
                                                                  Too lazy to set a custom title
                                                                  • Aug 2001
                                                                  • 20684
                                                                  #17
                                                                  Originally posted by Paul Markham
                                                                  It will take a lot of those microscopic wastes to wipe out the debt. The main ones are Health and Social Security, Unemployment. Which it's tough to reduce by cutting the amounts. without seeing riots on the streets.

                                                                  How many of the large spends are also operated as if money grew on trees? In the UK, the attempts to introduce IT has ended in disaster and costs billions. Because the people in charge are simply out of their depth.
                                                                  One of the best illustrations I have seen of the debt is a plate of food that has a big piece of chicken, a large helping of mashed potatoes and a large helping of veggies. On the side it has a small piece of parsley. It was then explained that the chicken, veggies and potatoes represent defense, social/welfare stuff including social security and medicare, and pensions/interest. The parsley represented everything else. Once shown like that it becomes pretty clear that no serious debt reduction can happen until we start to carve into those big three. We could completely get rid of everything else and still have a massive amount of debt.

                                                                    Comment

                                                                    • brassmonkey
                                                                      Pay It Forward
                                                                      • Sep 2005
                                                                      • 77385
                                                                      #18
                                                                      War!! this is where the bulk of the countries with the populations spend! #2 is the manufacturing of weapons and medicine.
                                                                      TRUMP 2026 KEKAW!!! - The Laken Riley Act Is Law!
                                                                      DACA ENDED - SUPPORT AZ HCR 2060 52R - email: brassballz-at-techie.com

                                                                        Comment

                                                                        • $money$
                                                                          So Fucking Banned
                                                                          • Nov 2015
                                                                          • 1416
                                                                          #19
                                                                          The op is old and babbling

                                                                            Comment

                                                                            • Best-In-BC
                                                                              Confirmed User
                                                                              • Jun 2002
                                                                              • 9509
                                                                              #20
                                                                              lol, oh Paul, welcome back...
                                                                              Vacares - Web Hosting, Domains, O365, Security & More
                                                                              Unparked domains burning a hole in your pocket? 5 Simple Ways to Make Easy $$$ from Unused Domains

                                                                                Comment

                                                                                • Paul Markham
                                                                                  Too old to care
                                                                                  • Jun 2001
                                                                                  • 52942
                                                                                  #21
                                                                                  Originally posted by dyna mo
                                                                                  1. the op clearly fails to grasp the concept of multiple use v cost. if a penny was disposed after 1 use, then yes, it costs that. but pennies are used 1000s of times before they are disposed of. + the fact that a penny costs less than a penny to manufacturer up until very very recently.

                                                                                  2. the op clearly fails to grasp the concept of national debt and how it is absorbed over time by economic growth and refinancing at lower and lower rates.

                                                                                  3. the op clearly fails to grasp the concept that it's a bad idea to get your information from a comedy show youtube video.
                                                                                  1 .Dyna clearly fails to grasp the concept of multiple examples of waste like this one.

                                                                                  2. Dyna clearly fails to grasp the concept of looking further than his nose. Bt expecting growth to always outstrip debt. Which is why Debt v GDP is going the wrong way in far too many countries.



                                                                                  3. Dyna clearly fails to grasp the concept. As the graph shows.

                                                                                  Eventually, Debt v GDP will be like the last bank crash. The debt will be so high the countries involved won't be able to borrow enough to fund their spending. Then people who aren't the ones really responsible will be left to repay the money, or do without vital services. While the rich they kept voting for, run off to a palm beach, white sands island.



                                                                                  Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500.
                                                                                  PM me for a deal. Skype Paulmarkham70

                                                                                    Comment

                                                                                    • Paul Markham
                                                                                      Too old to care
                                                                                      • Jun 2001
                                                                                      • 52942
                                                                                      #22
                                                                                      Originally posted by kane
                                                                                      One of the best illustrations I have seen of the debt is a plate of food that has a big piece of chicken, a large helping of mashed potatoes and a large helping of veggies. On the side it has a small piece of parsley. It was then explained that the chicken, veggies and potatoes represent defense, social/welfare stuff including social security and medicare, and pensions/interest. The parsley represented everything else. Once shown like that it becomes pretty clear that no serious debt reduction can happen until we start to carve into those big three. We could completely get rid of everything else and still have a massive amount of debt.
                                                                                      Spot on.



                                                                                      Health and social security are very hard to slice into without people ending up dead and rioting. Defense is an obvious one, it puts a lot of workers and soldiers on the bread line, with the laws on firearms that's a bad situation.

                                                                                      The other problem is money circulates, trickles up and down. By pumping money in, an economy is often worse than the actual living standards. Stop borrowing and the effect would be the same as raising taxes, less money in people's pockets.

                                                                                      A solution would be to tax imports to balance the effect they have on an economy. This is an example, an imported car removes half a job for an American worker, so tax it to the level it costs. Same with $20,000 worth of imported clothing. This would be applied to the trade gap between countries.

                                                                                      Another one is a very strict immigration policy. So no one earning too little to really contribute is allowed to have a job, home, benefits, health care, etc. And once found is put into a camp or returned to their home country. The cost would be higher prices, the upside is more jobs for the nationals of that country. We have seen the effect of open borders here in Europe.

                                                                                      Will these measures be enough?

                                                                                      Look at the West during the 50s to 70s. Before were flooded with cheap imports and cheap workers. The American Dream is all about those years. Look at the countries where sales come from, how many are major suppliers?



                                                                                      Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500.
                                                                                      PM me for a deal. Skype Paulmarkham70

                                                                                        Comment

                                                                                        • pimpmaster9000
                                                                                          Too lazy to set a custom title
                                                                                          • Dec 2011
                                                                                          • 26730
                                                                                          #23
                                                                                          Originally posted by dyna mo
                                                                                          2. the op clearly fails to grasp the concept of national debt and how it is absorbed over time by economic growth and refinancing at lower and lower rates.


                                                                                          US debt per family: 790K
                                                                                          US median income : 29K

                                                                                          gimme a refinancing example
                                                                                          Report a suspicious cracker: Click Here

                                                                                            Comment

                                                                                            • redwhiteandblue
                                                                                              Bollocks
                                                                                              • Jun 2007
                                                                                              • 2785
                                                                                              #24
                                                                                              Originally posted by Paul Markham
                                                                                              Spot on.



                                                                                              Health and social security are very hard to slice into without people ending up dead and rioting. Defense is an obvious one, it puts a lot of workers and soldiers on the bread line, with the laws on firearms that's a bad situation.

                                                                                              The other problem is money circulates, trickles up and down. By pumping money in, an economy is often worse than the actual living standards. Stop borrowing and the effect would be the same as raising taxes, less money in people's pockets.

                                                                                              A solution would be to tax imports to balance the effect they have on an economy. This is an example, an imported car removes half a job for an American worker, so tax it to the level it costs. Same with $20,000 worth of imported clothing. This would be applied to the trade gap between countries.

                                                                                              Another one is a very strict immigration policy. So no one earning too little to really contribute is allowed to have a job, home, benefits, health care, etc. And once found is put into a camp or returned to their home country. The cost would be higher prices, the upside is more jobs for the nationals of that country. We have seen the effect of open borders here in Europe.

                                                                                              Will these measures be enough?

                                                                                              Look at the West during the 50s to 70s. Before were flooded with cheap imports and cheap workers. The American Dream is all about those years. Look at the countries where sales come from, how many are major suppliers?
                                                                                              Terrible thinking there Paul! But you're not alone. Try reading this all the way through, especially 1, 2, 7, 15 and 41. http://www.adamsmith.org/wp-content/...c-Nonsense.pdf
                                                                                              Interserver unmanaged AMD Ryzen servers from $73.00

                                                                                                Comment

                                                                                                • Paul Markham
                                                                                                  Too old to care
                                                                                                  • Jun 2001
                                                                                                  • 52942
                                                                                                  #25
                                                                                                  Originally posted by crucifissio


                                                                                                  US debt per family: 790K
                                                                                                  US median income: 29K

                                                                                                  gimme a refinancing example
                                                                                                  Yes, the problem is huge. The trouble is no one is even trying to stop the debt rising. Trump says he will limit imports and stop illegal migration. His problem will be getting through congress and the senate. The politicians financiers won't allow it.

                                                                                                  redwhiteandblue, yes it's an obvious problem.

                                                                                                  Maybe the solution is to allow buyers to keep borrowing funny money, so the sellers can keep selling. To keep people in jobs. I'm not enough of an economist to know if that will work. What I do know is without austerity countries like the UK will sink slowly. And some countries will hit a wall.



                                                                                                  Blowout deal. 880 videos, 2,400 image sets, plus many RAW videos. $500.
                                                                                                  PM me for a deal. Skype Paulmarkham70

                                                                                                    Comment

                                                                                                    • dyna mo
                                                                                                      just a fucking jerk
                                                                                                      • Dec 2008
                                                                                                      • 68184
                                                                                                      #26
                                                                                                      Brainiac GFY economists, ask Paul Krugman, an actual economist if the debt matters , you won't be able to understand his answer but the bottom line is it does not and history proves that. Combined with the fact you econ experts haven't even realized the vast majority of us debt is internal with foreign investment dropping for the past 12 years.

                                                                                                      The reason I know you won't be able to grasp that is because you completely fail at even grasping how to calculate the cost of a penny that gets used 1000s of times.

                                                                                                      Too fucking funny watching you eurotards high 5 each other over math and economics you completely fail to comprehend.

                                                                                                        Comment

                                                                                                        • redwhiteandblue
                                                                                                          Bollocks
                                                                                                          • Jun 2007
                                                                                                          • 2785
                                                                                                          #27
                                                                                                          Krugman talks shit.
                                                                                                          Interserver unmanaged AMD Ryzen servers from $73.00

                                                                                                            Comment

                                                                                                            • dyna mo
                                                                                                              just a fucking jerk
                                                                                                              • Dec 2008
                                                                                                              • 68184
                                                                                                              #28
                                                                                                              fucking aha. krugman is a world-renown economist who studies and comprehends this shit for a living and at a level a markham can't even fathom. markham can't even comprehend that a penny gets used 1000s of times.

                                                                                                                Comment

                                                                                                                • pimpmaster9000
                                                                                                                  Too lazy to set a custom title
                                                                                                                  • Dec 2011
                                                                                                                  • 26730
                                                                                                                  #29
                                                                                                                  @paul

                                                                                                                  the 19trillon debt has little to do with immigrants and imports...trump is just a house speaker at best, president does not mean shit in the USA except to start a war...it took them like 50 years just to beat the tobacco lobby LOL the US gov is so corrupt its right up there with n.korea only n.korea does not kill as many people...

                                                                                                                  @ denial mo

                                                                                                                  lets see 790K household debt, 29K yearly income = FUCKED

                                                                                                                  Even without interest, compounded interest and inevitable new debt, it would take 27 years to pay off without spending a single cent on food/shelter/life ect

                                                                                                                  or if 2 people worked in the household it would take them 13.5 years of no eating no spending a dime, no new debt and interest at 0% in fairy tale land

                                                                                                                  In reality, at a fictional 2% interest on 27 years thats like another 400K so make that 41 years of no food no spending money LOL

                                                                                                                  Its a good thing Paul Krugman gets it
                                                                                                                  Report a suspicious cracker: Click Here

                                                                                                                    Comment

                                                                                                                    • dyna mo
                                                                                                                      just a fucking jerk
                                                                                                                      • Dec 2008
                                                                                                                      • 68184
                                                                                                                      #30
                                                                                                                      only dumbfucks associate national debt to household debt. uh, krugman is the economist that states unequivocally that national debt in no way is like household debt. i'm not surprised the gfy eurotard simpletons don't get it.

                                                                                                                        Comment

                                                                                                                        • pimpmaster9000
                                                                                                                          Too lazy to set a custom title
                                                                                                                          • Dec 2011
                                                                                                                          • 26730
                                                                                                                          #31
                                                                                                                          Originally posted by dyna mo
                                                                                                                          only dumbfucks associate national debt to household debt. uh, krugman is the economist that states unequivocally that national debt in no way is like household debt. i'm not surprised the gfy eurotard simpletons don't get it.
                                                                                                                          nobody will have to pay off the national debt at all, this is why you and paul krugman kick so much ass
                                                                                                                          Report a suspicious cracker: Click Here

                                                                                                                            Comment

                                                                                                                            • dyna mo
                                                                                                                              just a fucking jerk
                                                                                                                              • Dec 2008
                                                                                                                              • 68184
                                                                                                                              #32
                                                                                                                              agreed, high 5 eurotard.

                                                                                                                                Comment

                                                                                                                                Previous template Next
                                                                                                                                Working...