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Author | Topic: The Changing World Order | |||||||||||||||||||||||||||
Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
I fully agree with you.
The most difficult subjects can be explained to the most slow-witted man if he has not formed any idea of them already; but the simplest thing cannot be made clear to the most intelligent man if he is firmly persuaded that he knows already, without a shadow of a doubt, what is laid before him.” - Leo Tolstoy, The Kingdom of God is Within You (1894). When both religious and non-religious people reach the same conclusions then you know religion isn't the reason.--Percy Democrats should not be the only party. Respect the two-party system. -Phat, in December 2022 We see Monsters where Science shows us Windmills.~Phat, remixed
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
In resonse to your questions, Frontline PBS had a timely documentary that explains to you ignorant elitists why I know more than you do about finance!
Age of Easy Money (full documentary) | FRONTLINE Granted I could not articulate my beliefs as well as the documentary, but you be the judge about the scope of the problem. Yes, you all can blame the Republicans, but Powell and Yellin did not help the situation at all. Back in 2008, Obama and the Fed should have let the banking system fail! 2008 Protester:
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
Im in the same boat as the teachers and other pension funded professions! I started in the grocery industry way back in 1989. 34 years ago. I was 29 years old and finally had a stable union job in the grocery store industry. My employer at that time was Cub Foods, a subsidiary of Super Valu
From Article: Wiki:Now it gets interesting! For the record, I worked for Cub Foods from 1989-2003, when they closed abruptly. (Now who is the villain? Who could it beee?) Wiki:To summarize, Cerbus helped spin off the 11 Cubs stores here in Denver, I got laid off and they then bought Albertsons, laid a bunch of them off, bought Safeway in 2013 and laid a bunch of us off, merged with Albertsons and now want to merge with Kroger. In reality, they will sell Kroger 15 or so of our stores, lay the rest of us off (or wreck the union and trash our pension) and pay off their shareholders out of the sales. After squeezing the equity out of my employer, they will leave it to its doom. Again. In 2007 UNFI acquired Millbrook Distribution Services.[8] In 2011, UNFI signed a distribution agreement with Safeway Inc. for the distribution of non-proprietary natural, organic and specialty products. This agreement was terminated by Safeway in July, 2015,leading to a drop in share price and two rounds of layoffs, their first in the history of the company. UNFI owns Super Valu and supplies Whole Foods with its stuff. (Bezos The Clown owns Whole Foods! ) Republicans are no friends of mine. I see a bigger picture globally, however. If any of you are smart, you will realize that as long as the Chinese Government is communist, they are no friend of ours, either. As for Cerberus, they are like a "union" of wealthy investors. They are a private equity firm.
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
Several reasons. One notable quote:
Frontline: The central bank bails out banks, buys the failed bonds, sits on the bonds until they mature, and essentially insures the wealthy investors, Banks do have a 250,000 FDIC guarantee for their regular customers, but the banks don't have the money to pay everybody and so the FED essentially creates more money(leading to more inflation) in order to shore up the bank. Take mortgages. Lured by cheap interest rates, consumers refinanced their mortgages for many years as interest rates hovered near 0%. Biden looks us in the face and claims that stockholders wont get a bailout since they "took a risk" by investing in stocks. (which had a 50 year cycle of growth, by the way)And yet the banks again get bailed out rather than letting them naturally fail. Im telling you again...The Fed is either clueless or diabolical. I cant decide which at this point in time. And what about Pension Funds? What about the 100 trillion elephant in the room that is unfunded liabilities? What about social security, for crying out loud!! Edited by Phat, .
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
https://imageio.forbes.com/...sch/files/2017/11/Untitled.jpg
Dont twist numbers in order to make a socialist war cry.
Forbes:The entire net worth of the Forbes 400 is 2.68 Trillion. If we took ALL of the money from the Forbes 400, we would barely make a dent in the national debt, let alone Bidns proposed budget for 2023 alone. Quit sounding the Leftist war cry of needing a new Robin Hood. I dont know why you elitists are so concerned about Republican money. Maybe you think they should be forced to give it to Greenpeace or something, I dunno. I DO think that they should guarantee my pension at work that I worked 33 years to get. I DON'T THINK that the capitalists should be forced to support the whole world, however.
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
If there are only two choices and the choices are BAD and WORSE, what do you expect would happen? The rest of the world laughs at us. (Or perhaps they turn away in disgust!)
China,Russia, India,Brazil, Iran, and S.Africa have decided they no longer wish to trade only in dollars. You all can keep crowing about how great America and Mr.Biden are, until you find yourselves wiped out. Biden needs to be tougher against the fascist union of Chinese Industry and Western Government.
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
https://youtube.com/shorts/Ynh561K9D0E?feature=share
Ten second clip of Ray Dalios opinion. I cant understand people who say that continually raising the debt limit (beyond what we pay back, mind you) wont lead to eventual problems that the US cant handle. At the very least we should balance our yearly budgets. Part 2 clip: What should be done according to Dalio(15 seconds)https://youtube.com/shorts/Ynh561K9D0E?feature=share
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
Don't play dumb. It means owing more year after year. Money that never gets paid back.
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
OK, fair enough. So WHO does the government authorize to pay it back?
{or...WHO does the Federal Reserve authorize to pay it back?) And why does it never seem to get paid back? After all, the amount grows each year.
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
Percy writes: My point is that the debt itself is increasing and not shrinking. I have never seen it shrink in the last 10 years. It is irrelevant if some bit of it gets paid back by new borrowed money. Again, bits of it are being borrowed and paid back all the time. It grows when more is borrowed than paid back, and it shrinks when more is paid back than borrowed. We call this kicking the can down the road. How would you like to have $100,000.00 in debt that you could never pay back? If you paid part of it using another credit card, you would be simply transferring it from old debt to new debt. The National Debt is the shortfall from each years budget deficit. It only goes up...never down. All that Clinton did was eliminate the deficit for a short time. He never addresssed the long term debt. Nor can anyone else. Eventually, the reality will become evident to the entire world. Likely the only reason that they even play along is because a US default would hurt them too. Bottom Line: Is an ever increasing debt good for America? How about for the world?
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
The debt then gets paid down. Keep in mind, however, that
1) It is a drop in the ocean 2) Clinton was the last and only recent president to not add to the overall debt. Neither side can get it together nowadays. Which is why talk exists about setting a ceiling on long term debt. Not that I agree with the Republicans. Their grandstanding may get us all in trouble. Basically, it appears as if we are stuck. We are so far in debt that all we can now do at best is balance the budget enough to pay the interest.
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
nwr writes: I am an unaffiliated voter. I do not vote along party lines(either way) If you want to see the debt paid down, why do you vote Republican? And don't you yet understand that the debt will NEVER be paid off nor will it EVER go down substantially. I worry about social security, health care, and cost of living. Tax hikes will never make a dent in the debt. Its too late for that.
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
nwr writes: Are you nuts? The entire net worth of the Forbes 400 is slightly under 3 trillion dollars...a mere drop in the bucket. The numbers being discussed are far higher than what would be solved through a tax increase.
No, it (the Debt)needs to be reduced.
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Phat Member Posts: 18262 From: Denver,Colorado USA Joined: Member Rating: 1.1 |
Well, that's certainly not good.
What made you look him up, anyway? I never knew that stuff...
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