The Looming Train Wreck
- Thread starter Marshal Jim Duncan
- Start date
California's entire state government is a house of cards that when it comes down is going to screw the rest of the country big time. Their unfunded liabilities are way more than they are willing to admit.
Those morons in Sacramento never met someone else's money they weren't willing to spend.
Those morons in Sacramento never met someone else's money they weren't willing to spend.
Chicago is in deep poop also. Its the promise of a new contract now, for votes now for future liabilities that can't be met ever. Going to be a huge battle someday in Congress when these liberal shit holes come to the capital hat in hand for a bailout and it happens (or it doesn't happen). One thing for sure, the problem will just get worse as taxes are raised and people with any type of option head out of town, for good.
I saw on the news a year or so ago that the city of San Jose' was paying retired firefighters $95,000/yr pensions. This and other pensions were draining the city dry. So much they weren't able to maintain infrastructure like they should. My wife teaches and we have zero faith that her KPERS pension will be funded in 12 yrs so we have taken it into our own hands of putting money aside. But, then again we're Republican and smarter than most government workers.
This is the consequence of building a debt-based government that require interest rates to be dropped to 0 to maintain borrowing while screwing every "individual saver" and pension fund in the country. Unfortunately, fixing the interest rates will bankrupt our country as we now have $20 Trillion in debt to finance (thanks to our wonderful Organizer-in-chief) and his over-liberal Fed.
Justin
Justin
Well you are the expert on divorce. I do love to hear the story about how great unfathomable debt is. Tell it again uncle pilt!!
Come on pilt lay it out there. Tell us how 100 trillion in debt would be better than twenty trillion. My tiny mind won't get it but you might get some converts.
I there is always an optimal deficit and debt level anything above it is too high anything below is too low. I put the burden on the debt doomers to show that the level we are at right now is too high.
I think if you look at interest rates, inflation, and unemployment rate it is pretty clear that the deficit is too low.
Dallas is seriously near to filing bankruptcy for its pension plans for police/fire.
http://www.nytimes.com/2016/11/21/b...s-pension-debt-threat-of-bankruptcy.html?_r=0
http://www.nytimes.com/2016/11/21/b...s-pension-debt-threat-of-bankruptcy.html?_r=0
Come on just spell it out. you can explain it right? Stop fooling around with my tiny mind uncle pilt! Just give a straight forward explanation about how they are equal.
Just google it. I have family court and a foreclosure hearing. I don't have time to give you a free econ education.
HSH: I am too stupid to read. Help me.
Pilt: I don't have time to teach you how to read.
HSH: what an idiot.
You have no problem posting on here for the last however long you have been here and now you are under time constraints?? that is too funny. What a typical liberal.
Well I can just follow you around and remind you until you have time?? Will that work mr big brain??
Well I can just follow you around and remind you until you have time?? Will that work mr big brain??
HSH: I am too stupid to read. Help me.
Pilt: I don't have time to teach you how to read.
HSH: what an idiot.
HSH: You totally have time. You should waste it teaching me. I am going to bug you about it until you teach me.
This is getting awkward. Why is it so outrageous to ask someone to explain what they said? You could have done it five times since I first asked. Please mr big brain. Can you explain to me how they equal zero?
I explained it twice. You are too dumb to understand. If you care so much simply google it.
You explained it zero times. This is just weird now. I want to have a conversation with a big brain know it all and I've given you the floor to explain your big brained position and you run and hide under the couch? What gives mr big brain?? Just explain your position. Just type the words.
Yea so I'm not an accountant and I don't think you think I am. Can you explain it to me and pretend I'm a day laborer? You don't have smug liberal views of day laberors do you? No, good. so there will be no problem using your big brain and your real words to explain it to me who doesn't know what that Ching Chong Chang d plus y is. Thanks is advance.
This is an accounting philosophy that assumes a world-view, closed system (Fed balance sheet doesn't fit), 100% participation of money and fails to account for savings outside of government influence. It also assumes that if the government were to run without deficit and debt that the country would have zero savings, which is its own fallacy. The fact that you can set one side to zero and the equation no longer computes realistically invalidates your equation. It also assumes a world-view, meaning that the savings to balance the equation could also be coming (and are) from foreign governments (such as China, which owns 5% or $1T) which count as savings but are really wealth transfers from the US to the rest of the world.
But you never actually addressed my point. The lowering of interest rates has raped and pillaged our retirement accounts that were designed around significantly higher interest rates. And that now that we've ramped up $20T in debt, raising rates now will cripple our country.
But you never actually addressed my point. The lowering of interest rates has raped and pillaged our retirement accounts that were designed around significantly higher interest rates. And that now that we've ramped up $20T in debt, raising rates now will cripple our country.
Wrong. Fed balance sheet just shifts financial assets, it does not create them.
Wrong. Any financial asset created outside of government influence is accompanied by an equal liability (again an accounting identity) and they net to zero.
That isn't an assumption that is a straight up fact. Without government financial assets NET private financial saving is equal to 0.
It absolutely computes. set the government sector to zero and the private sector net savings goes to zero.
That is accounted for in the (M-X) term.
Do you think that issuing 20 Trillion in debt somehow lowered interest rates? You repeatedly make this claim that increasing interest rates will cripple our country. How? Are we going to run out of dollars?
HSH: please help me I don't know how to use Google. Math is ching Chong Chang.
