The national debt

[PoetPhilosopher]

I've made several threads about the government stimulus checks, and me doing so may show that I support them. However, I think it's also good to look at things in a more bipartisan way, so I am posting this article:

How we’ll deal with the mushrooming national debt

I have found this article more informative than most on Yahoo, if the statistics are correct, which I think at the very least they aren't far off. I support a second round of $1200 checks personally, but I don't support every last very spendy idea. I also think more people should be eligible for such checks.

 

[sun rise]

I agree that the debt is a problem. But that article emphasizes taking it out on those on the bottom and the middle not those on the top. It's way way way past time to stop giving the wealthy tax cuts and screwing the rest. And it's time to stop putting Social Security in with the rest of the budget. That is not a regular budget item but a savings plan we pay/paid into and expect to be honored.

As far as defense goes, I found that argument that the same problems exist that cause a large amount of spending just plain wrong. This is from a few years ago but is probably pretty close:

 

[Shadow Wolf]

I've made several threads about the government stimulus checks, and me doing so may show that I support them. However, I think it's also good to look at things in a more bipartisan way, so I am posting this article:

How we’ll deal with the mushrooming national debt

I have found this article more informative than most on Yahoo, if the statistics are correct, which I think at the very least they aren't far off. I support a second round of $1200 checks personally, but I don't support every last very spendy idea. I also think more people should be eligible for such checks.

Yeah. It is tough rough now. And because people are refusing to accept reality its getting hard to predict what will happen, but from what Ive seen and heard I wont be surprised to see the 1 million dead in America. Which is a hefty big chunk of taxes for paying the debt back. Its also a chunk of the workforce.
It's one day at a time for me. I appreciate bipartisanship (especially now), but, realistically, I think were going to have to look at wkrse case scenarios. Amd figure out how they'll get worse.
As for the article, of course the subject is an elephant in the room, but I'm not to sure someone who considers social security an entitlement is the best suited to guide such a discussion (as people do work to pay into it, and pay into it to withdraw it). It acts like the military must also choose between bombs and healthcare, when its been a commoy known issue for awhile the military spends too much on obsolete things and stuff that never gets used. That needs to be brought to the front and center with a coat if neon paint.
It also doesn't mention this could be a push for the legalization of cannabis. States need the revenue? For cash-desperate states it'll be a flow of revenue that'll help make a difference.
It'll be hard, but it doesn't have to be all hard like the article suggests. I'm sure there are other creative things to open up revenue.
And, for the more sombre side, out of those retiring boomers? A lot of them wont survive this. The systen will also shed many of those in poor health. Even many young, healthy people will not live through this. That must also be considered. Another reason it's just a day by day thing for now. A homo sapiens **** storm of stupidity has been unleashed, and I'd feel safer watching tornadoes back in Indiana.

 

[Mindmaster]

I've made several threads about the government stimulus checks, and me doing so may show that I support them. However, I think it's also good to look at things in a more bipartisan way, so I am posting this article:

How we’ll deal with the mushrooming national debt

I have found this article more informative than most on Yahoo, if the statistics are correct, which I think at the very least they aren't far off. I support a second round of $1200 checks personally, but I don't support every last very spendy idea. I also think more people should be eligible for such checks.

Best time in the world to buy real estate and gold. Get at it..

Let's put it this way, if you were to take a mortgage now you'd be getting a discount by whatever the inflation becomes. Gold is just your typical "inflation hedge"... What you don't wanna be on is large stacks of money.

 

[fantome profane]

The solution is shockingly simple. All you need to do is kill Jeff Bezos and take his money. You would have enough to pay off the debt and enough left over to spread around.

If you just simply sacrificed the wealthiest person to the God of Capitalism every 10 years or so all of your problems would be solved.

 

[Kangaroo Feathers]

The solution is shockingly simple. All you need to do is kill Jeff Bezos and take his money. You would have enough to pay off the debt and enough left over to spread around.

If you just simply sacrificed the wealthiest person to the God of Capitalism every 10 years or so all of your problems would be solved.

I mean now that trump and cheersquad are explicitly saying "sacrificing lives is necessary if it fixes" sorry, "maintains, the economy", there's obviously no moral argument against killing Bezos. I wonder what dodge the Usual Suspects will attempt to justify their double standard that killing 100, 000 vulnerable people is ok but killing a trillionaire isn't?

 

[PoetPhilosopher]

I mean now that trump and cheersquad are explicitly saying "sacrificing lives is necessary if it fixes" sorry, "maintains, the economy", there's obviously no moral argument against killing Bezos. I wonder what dodge the Usual Suspects will attempt to justify their double standard that killing 100, 000 vulnerable people is ok but killing a trillionaire isn't?

I can make my guesses, certainly. "Bezos does a good for the country by possibly illegally selling Hydroxychloroquine via Amazon third parties and back channels, in a way more convenient than 100,000 people ever could."

 

[Kangaroo Feathers]

The solution is shockingly simple. All you need to do is kill Jeff Bezos and take his money. You would have enough to pay off the debt and enough left over to spread around.

If you just simply sacrificed the wealthiest person to the God of Capitalism every 10 years or so all of your problems would be solved.

A slightly less bloody version I'm seen suggested is "make billionaires illegal". You get to make $999, 999, 999, and after that, anything you make goes into national funding, you get a trophy that says;"congratulations, you won capitalism" and a knighthood, or park named after you or whatever the local token is. You still get more money than you could spend if you lived a thousand years, everyone else benefits from extra money circulating in the economy and essential services get funded. Everyone wins.

 

[Kangaroo Feathers]

I can make my guesses, certainly. "Bezos does a good for the country by possibly illegally selling Hydroxychloroquine via Amazon third parties and back channels, in a way more convenient than 100,000 people ever could."

And the ever popular "but He WoRks HaRd FoR hIs MoNeY". as though the guy making 100,000 x what you his employees makes is working 100,000 times harder.

 

[Revoltingest]

I've made several threads about the government stimulus checks, and me doing so may show that I support them. However, I think it's also good to look at things in a more bipartisan way, so I am posting this article:

How we’ll deal with the mushrooming national debt

I have found this article more informative than most on Yahoo, if the statistics are correct, which I think at the very least they aren't far off. I support a second round of $1200 checks personally, but I don't support every last very spendy idea. I also think more people should be eligible for such checks.

I predict.....
1) Means testing & other changes to eligibility requirements for entitlement programs.
2) Higher taxes.
3) Expanding the money supply to increase inflation (ie, currency devaluation).
This has a couple effects....
- It lowers the value of governments' debt because it's
in dollars, & not adjusted for the dollar's lowered value.
- It causes tax bracket creep, ie, as wages rise to reflect
inflation, people enter higher tax brackets, thus increasing
tax rates.

 

[Revoltingest]

Best time in the world to buy real estate and gold. Get at it..

Let's put it this way, if you were to take a mortgage now you'd be getting a discount by whatever the inflation becomes. Gold is just your typical "inflation hedge"... What you don't wanna be on is large stacks of money.

I urge caution in such investments.
The best gold can do is appreciate. There are transaction costs to
acquire & later sell it. And it generates no revenue while owning it.
Real estate has transaction costs, but one can get value while
owning it, either occupying it or collecting rent.
But be cautious about high loan to value ratios....an economic
hiccup can put one underwater. Also take care to not buy the
wrong kind of real estate. In a changing economy, some types
will fare better than others over time. I recommend residential
over commercial. Avoid industrial entirely.

 

[Mindmaster]

I urge caution in such investments.
The best gold can do is appreciate. There are transaction costs to
acquire & later sell it. And it generates no revenue while owning it.
Real estate has transaction costs, but one can get value while
owning it, either occupying it or collecting rent.
But be cautious about high loan to value ratios....an economic
hiccup can put one underwater. Also take care to not buy the
wrong kind of real estate. In a changing economy, some types
will fare better than others over time. I recommend residential
over commercial. Avoid industrial entirely.

Eh, the gold is just for rainy days to me... It's basically as good as having a big pile of cash without the deflation. You should always keep some assets "in cash", but that doesn't exactly mean "cash" per Se, but you could have like gold related ETFs etc. There is certainly a transaction cost to any of this, but you gotta weigh the 5-10% cost toward the loss due to the inflation which will certainly be higher in my view. I just view other investment vehicles as rather random currently... Stocks can go anywhere right now, ditto with the new things like crypto. I don't like randomness when it comes to money... another legit investment is to start some side-hustles.. There are going to be a lot of openings at the small business level for new providers because old ones were living a bit too big for their britches pre-covid. If you come out rather lean and mean there will be a lot of opportunity for people willing to assume the risk to plug the holes left in the economy. But, my recommendation on that line of thought is start something that is required rather than optional. Covid is going to create a ton of room for new players who can keep their operating costs low.