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Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

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Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby Shuftin » Sat Jan 30, 2016 1:56 am

The more corrupt the state, the more numerous the laws. - Tacitus, Roman senator and historian (A.D. c.56-c.115)

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The old police motto of TOprotect and servehas been replaced with YOU "comply or die.”

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Re: Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby Pumpkin » Sat Jan 30, 2016 8:05 am

The whole fiat money debt situation completely destroys the government created by the people. The substance in which the federal government is funded was to come from the states and imports. With fiat, the federal government makes whatever money it wants, while still taxing the States (with a direct tax all dressed up like an indirect tax no less). The idea of limited government in scope an size has been tossed to the wind. The State's government funding is now, to a large percentage, based on federal money. The federal government now creates fiat out of thin air to buy the sovereignty of the States. What a fucked up situation!
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Re: Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby Shoonra » Sat Jan 30, 2016 12:14 pm

Just about everyone raises their own debt limit throughout life. We start with no more debt limit than one week's allowance. Then maybe one meal's worth in the school cafeteria. Later, maybe a few hundred on a used car, eventually a few thousand on a new car. Then thousands on a student loan. Then many thousands on a mortgage and maybe many thousands more starting up a business. And maybe thousands toward next season's crop or on business expansion. And the beat goes on.

The US is continually growing, the govt continually handling more money and acquiring more valuable assets. So this rise in the debt limit applies to the govt also.
/ Shoonra
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First Samuel 15:23
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Re: Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby Pumpkin » Sat Jan 30, 2016 12:50 pm

Just about everyone raises their own debt limit throughout life.


Not everyone. My current debt limit is zero. Debt is an enemy, as the Bible tells us: "The rich ruleth over the poor, and the borrower is servant to the lender."
Our sovereign country and servant government should not be a slave to anyone but the people. Most certainly not the corporate bankers.
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Re: Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby Shoonra » Sat Jan 30, 2016 4:48 pm

Alexander Hamilton is credited with establishing the federal debt as a part of America's economy. It has contributed to America's growth, while other countries that struggled to keep zero debts stagnated.
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Re: Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby PHOSPHENE » Sat Jan 30, 2016 5:26 pm

Shoonra wrote:Alexander Hamilton is credited with establishing the federal debt as a part of America's economy.

Explain that to the "America is a British Colony" crowd.
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Re: Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby Pumpkin » Sun Jan 31, 2016 8:02 am

Shoonra wrote:Alexander Hamilton is credited with establishing the federal debt as a part of America's economy. It has contributed to America's growth, while other countries that struggled to keep zero debts stagnated.


In the day, there was limits to debt imposed by the lenders. Substance was actually transferred on trust. Today the debt itself is an illusion. It only represents the weakness of diluted fiat, and monumentally so.
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Re: Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby country_hick » Sat Feb 06, 2016 3:46 pm

A smart man knows that debt exists ONLY as a tool to gain time.

If I borrow money for school debt is used to borrow time for me to get schooling faster.
The schooling should increase my long term income more than the cost of debt for that schooling will be.

If I borrow money to buy a house the money is borrowed for a limited time at a stated payment that will eventually be paid off.
The cost of renting monthly housing compared to the asset being built over time should be comparable.
If by renting over 20 years I would spend less and save more money compared to buying a house renting is smarter.
I have done calculations where buying a house building equity would net 6 figures less than renting without including any house repair costs.

I have bought $100 cars. I have bought $500 cars. I have bought more expensive cars. Each car was bought with cash.
Using debt to buy a $45,000 car or pickup that will be worth maybe 10% of that when the debt is paid off is financial suicide.

Anyone who keeps getting more and more debt only fools themselves into thinking they are improving their life while instead they make it worse.

Good debt increases your odds of having a better life and building equity. Bad debt just makes you poorer over time.
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Re: Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby Shoonra » Sun Feb 07, 2016 1:57 am

I suggest people read Hamilton's Blessing - The Extraordinary Life & Times of Our National Debt by John Steele Gordon:

http://www.amazon.com/Hamiltons-Blessing-Extraordinary-National-Revised/dp/0802717993/ref=sr_1_4?s=books&ie=UTF8&qid=1454827935&sr=1-4&keywords=john+steele+gordon

That would be an intro to real economics, a far cry from what I call redneckonomics.
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Re: Absurdity Of Gov’t Voting To Raise Its Own Debt Limit

Postby Shikamaru » Sun Feb 07, 2016 11:36 am

Shoonra wrote:I suggest people read Hamilton's Blessing - The Extraordinary Life & Times of Our National Debt by John Steele Gordon:

http://www.amazon.com/Hamiltons-Blessing-Extraordinary-National-Revised/dp/0802717993/ref=sr_1_4?s=books&ie=UTF8&qid=1454827935&sr=1-4&keywords=john+steele+gordon

That would be an intro to real economics, a far cry from what I call redneckonomics.


What is "real" economics?
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