1). Monetize the debt. That is what Bernanke is doing now. Printing more
money. The govt did this after WWII when it had huge deficits. Rather than
pay back the loans they printed more money. By the time of Nixon Presidency
inflation was 25-30%. But the postwar boom did take place but then everybody
(both husbands and wives and children) had to work hard just to pay the
bills. They were caught in a tsunami and didn't know why.
2). Austerity. Fat chance. People on the dole have no intentions of giving
them up. A simple thing like the Big Bird fiasco shows people never give up
their perks willingly.
3). Bondholder haircuts. That already is happening. But for some reason
there is no howling; people are still buying bonds. Crazy.
4). Sell govt assets. Another fat chance we will see any value obtained.
When the govt auctioned off the air waves a couple of years ago they
essentially gave them away in exchange for payoffs from the companies that
put a few pennies down on the actual value in many dollars worth. Oil
leases? Obama has put the kibosh on that one.
5). Forfeit debt. This is all funny money. Makes no sense to me.
In other words there is no answer just like Tony Robbins said. The only
thing left is to take away the perks enjoyed by the middle class. Cut farm
subsidies: why pay peanut farmers, tobacco farmers, et. al. Most of this
money goes to huge farm entities, not the little guy. Eliminate defense
spending on useless billion dollar toys promoted by generals in cushy jobs.
(This money provides jobs for middle class workers so that will not happen).
----- Original Message -----
From: "lelandj" <[email protected]>
To: "ProFox Email List" <[email protected]>
Sent: Wednesday, October 10, 2012 5:16 PM
Subject: Re: [OT] Tax the rich to get out of our probem
On 10/10/2012 12:50 PM, Stephen Russell wrote:
Because they have more money so no problem right?
<http://training.tonyrobbins.com/1740/exclusive-video-tony-robbins-deconstructs-the-national-debt/>
There are a number of way to deal with huge deficits:
1) Monetize the debt: http://en.wikipedia.org/wiki/Monetization
2) Austerity: http://en.wikipedia.org/wiki/Austerity
3) Bondholder haircuts or other or renegotiations with debt holders: LOL
http://en.wikipedia.org/wiki/Debt_restructuring#Bondholder_haircuts
4) Sale or lease government assets:
http://www.smartmoney.com/invest/stocks/time-to-sell-government-assets-1321894446021/
5) Have the Central Banks of the Federal Reserve forfeit their debt
holdings of the USA. The Central Banks of the Federal Reserve hold about
13% of the USA national debt.
The money the Central Banks loaned Uncle Sam is fiat money. Nobody
profits from the interest on the debt, and since the money loaded from the
central banks is not real money, then the debt created is not real debt:
LOL: http://www.abovetopsecret.com/forum/thread867227/pg1
Historically, the most popular method of dealing with the USA national
debt is inflation. During the 1950s, I could buy a coca cola from a
vending machine for a nickle. Today, It cost $1.25 (eg 5 quarters), but I
doubt anyone has felt the inflationary effects occurring over this period
of time.
Regards,
LelandJ
[excessive quoting removed by server]
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