Even I'm surprised. Household debt hits 16 trillion

[georgephillip]

Libertarianism will not work

Open borders, no regulatory agencies, etc. Pure democracy is not desirable because the majority can trample the rights of the minority.

This is the real world and libertarianism while it may have some good points is still naïve idealism

Libertarian socialism is considerably different from what US Libertarians normally promote; basically it believes democracy begins in the workplace and spreads outwards.

Libertarian socialism - Wikipedia

"Libertarian socialism is a Western philosophy with diverse interpretations, although some general commonalities can be found in its many incarnations.

"It advocates a worker-oriented system of production and organization in the workplace that in some aspects radically departs from neoclassical economics in favor of democratic cooperatives or common ownership of the means of production (socialism).[51"

 

[gipper]

I heard lots of jingles----Jack be nimble, Jack be quick,
Jack jump over the candlestick

Yes very funny. Now please admit capitalists love war first and foremost. Nothing makes them more money.

 

[georgephillip]

Yes very funny. Now please admit capitalists love war first and foremost. Nothing makes them more money.

I wonder if it's worth asking if private fortunes exist in a society without war and debt?

 

[gipper]

I wonder if it's worth asking if private fortunes exist in a society without war and debt?

Certainly really really big private fortunes wouldn’t exist without war and debt.

 

[Woodznutz]

Printing money creates equity? What's your definition of equity?

Equity is debt free ownership.

How? (Can inflation be reduced via the budget process.)

By spending less money than is taken in.

 

[Toddsterpatriot]

Equity is debt free ownership.

By spending less money than is taken in.

If he spends less than he took in, why is he printing?

 

[expat_panama]

right----capitalism did it----buying and selling---that strange activity that is a mere 500 years old and before
that ----ECONOMIC NIRVANA and WORLD PEACE

Wait, buying and selling has only been going on for 500 years? What about all those times where the market is mentioned in the Bible --both New and Old Testaments?

Look, let's be clear. The idea that people own things is older than the homo sapiens species, it goes back the better part of a million years. Also, the idea the community is involved w/ both enforcing and limiting private ownership, well that ALSO goes back just as far.

 

[irosie91]

Wait, buying and selling has only been going on for 500 years? What about all those times where the market is mentioned in the Bible --both New and Old Testaments?

Look, let's be clear. The idea that people own things is older than the homo sapiens species, it goes back the better part of a million years. Also, the idea the community is involved w/ both enforcing and limiting private ownership, well that ALSO goes back just as far.

sssshhhh the kids don't know

 

[georgephillip]

Certainly really really big private fortunes wouldn’t exist without war and debt.

Since leaving the gold standard in 1971 whenever Americans spend money abroad their dollars find their way into foreign central banks which are highly encouraged to use those dollars to buy Treasury bonds:

The Hard Fist of American Imperialism | Michael Hudson

"So we run a monetary deficit; the dollars are spent abroad; the central banks lend them back to the Treasury; and that finances the
budget deficit, but it also finances the balance-of-payments deficit. So we just keep giving paper IOUs, not gold."

That "free lunch" may be coming to an end?

 

[Woodznutz]

If he spends less than he took in, why is he printing?

Seed money, to get things started.

 

[Toddsterpatriot]

Seed money, to get things started.

If you think printing $100 billion and then unprinting $100 billion makes things better..........

 

[Toddsterpatriot]

Since leaving the gold standard in 1971 whenever Americans spend money abroad their dollars find their way into foreign central banks which are highly encouraged to use those dollars to buy Treasury bonds:

The Hard Fist of American Imperialism | Michael Hudson

"So we run a monetary deficit; the dollars are spent abroad; the central banks lend them back to the Treasury; and that finances the
budget deficit, but it also finances the balance-of-payments deficit. So we just keep giving paper IOUs, not gold."

That "free lunch" may be coming to an end?

Oh no......the foreigners will have to buy American goods and services with their dollars. Just awful!

 

[Flash]

We need to stop borrowing from the richest one percent and begin taxing them instead.

Biden promises wealthy donors he would not 'demonize' the rich

How about this? You stop borrowing more money than you can pay back.

Sounds good?

 

[Woodznutz]

If you think printing $100 billion and then unprinting $100 billion makes things better..........

It will certainly reduce the federal debt.

 

[Woodznutz]

Since leaving the gold standard in 1971 whenever Americans spend money abroad their dollars find their way into foreign central banks which are highly encouraged to use those dollars to buy Treasury bonds:

Depends on the exchange rate. If those dollars are stronger than their domestic currency they never make it to the banks. Russia is a good example. Their black market runs mainly on U.S. currency.

 

[Toddsterpatriot]

It will certainly reduce the federal debt.

How? They printed and then unprinted.

 

[gipper]

How about this? You stop borrowing more money than you can pay back.

Sounds good?

When do you think the USG will do that?

 

[gipper]

Since leaving the gold standard in 1971 whenever Americans spend money abroad their dollars find their way into foreign central banks which are highly encouraged to use those dollars to buy Treasury bonds:

The Hard Fist of American Imperialism | Michael Hudson

"So we run a monetary deficit; the dollars are spent abroad; the central banks lend them back to the Treasury; and that finances the
budget deficit, but it also finances the balance-of-payments deficit. So we just keep giving paper IOUs, not gold."

That "free lunch" may be coming to an end?

Hudson is a national treasure. He’s exposed the scam and like you stated, it looks to be coming to an end.

What’s most disappointing about the scam (besides creating an imperialist empire), is the vast majority of the wealth it generated wasn’t used to improve our nation‘s infrastructure, healthcare, or education. It was given to a select few elites.

 

[Woodznutz]

How? They printed and then unprinted.

Back to the premise. Money is spent directly from the Treasury (the printing press), not through the banking system. Therefore it is not 'borrowed' money, but once in the economy it produces tax revenue, which can be used to retire federal debt.

Economies fail because all printed money are notes of indebtedness. You can't borrow your way to prosperity.

 

[Toddsterpatriot]

Back to the premise. Money is spent directly from the Treasury (the printing press), not through the banking system. Therefore it is not 'borrowed' money, but once in the economy it produces tax revenue, which can be used to retire federal debt.

Economies fail because all printed money are notes of indebtedness. You can't borrow your way to prosperity.

Back to the premise. Money is spent directly from the Treasury (the printing press), not through the banking system. Therefore it is not 'borrowed' money, but once in the economy it produces tax revenue, which can be used to retire federal debt.

You want to print money to reduce the debt?
Do you want to print $30 trillion? Less? How much?