Anti-Neocons Forum

Federal, state and local debt exceeds size of entire economy. And, there are pollyannas who actually believe the promises of pollyticians that they're gonna fix it.

Federal, state and local debt hits post-WWII levels
February 20, 2011; 11:33 PM
https://www.washingtonpost.com/wp-dyn/c ... 03201.html

The daunting tower of national, state and local debt in the United States will reach a level this year unmatched just after World War II and already exceeds the size of the entire economy, according to government estimates.

But any similarity between 1946 and now ends there. The U.S. debt levels tumbled in the years after World War II, but today they are still climbing and even deep cuts in spending won't completely change that for several years.

The entropy of our systems is more apparent every day.

and austerity measures are coming (are here?)

This is what Greece does when their government decides to tighten its belt

http://www.latimes.com/news/nationworld ... 1949.story

I agree with Shakespear, Usury should be illegal.

Ha!
I'm reading the book The ascent of Money - Niall Ferguson - the history of our monetary system. Great book.

"Usurers had been excommunicated by the Third Lateran Council in 1179. Christian usurers had to make restitution to the Church before they could be buried on hallowed ground. The power of this taboo should not be underestimated though it had certainly weakened by Shakespears time"
"Jews, too, were not supposed to lend at interest. But there was a convenient get out clause in the Old Testament book of Deuteronomy: Unto a stranger thou mayest lend open usury, but unto thy brother thou shalt not lend upon usury".

So, lend to the christians and charge interest!

I think usury is okay, with legal limitations (and I'm not talking govt approved rating agencies!). I think fractional reserve banking is bullshit though!

Ry wrote:I agree with Shakespear, Usury should be illegal.

I agree and would add surety to the list.

How long before USA transforms into a country that has third world class system of extremes:rich vs poor. The Middle Class is dwindling day by day.

But who cares about the Middle Class working people right? Corrupt/irresponsible/filthy rich banks, airlines, automobile companies need to be bailed out first!

sorrysorry wrote:How long before USA transforms into a country that has third world class system of extremes:rich vs poor. The Middle Class is dwindling day by day.

But who cares about the Middle Class working people right? Corrupt/irresponsible/filthy rich banks, airlines, automobile companies need to be bailed out first!

I'm hearing planned total implosion of the dollar by the end of 2012.















New funny money, SDRs, to the rescue.

If the dollar is doomed to fail and be replaced by another currency, does that mean at some point soon we can max out our credit cards for cash and purchases and have the debt eventually be deemed null and void? I have this friend that wants to know.

Moreflourideplease wrote:If the dollar is doomed to fail and be replaced by another currency, does that mean at some point soon we can max out our credit cards for cash and purchases and have the debt eventually be deemed null and void? I have this friend that wants to know.

Credit card debt is unsecured debt. And, we supposedly still don't have debtor prisons in the USA. Most of those going after credit card debt are third-party debt collectors who bought the debt for pennies on the dollar after it was written off by the issuing bank. They don't possess any sort of (unilateral) contract that you have signed. In most every case, they will break laws that apply to them as debt collectors. Often, the penalty for doing so exceeds the debt they are trying to collect. Most people are not aware of this, much less their Rights under the Fair Debt Collection Act.

Look up Michael Mirras. Mirras teaches people how to help debt collectors break the law and how to document such a strong case against them, they go away. Look for interviews with him in the Rule of Law Radio show in the archives here:

http://www.ruleoflawradio.com See both the 2010 and 2011 archives.

The protections once afforded by declaring bankrupsy have been closed by CONgress. You don't want to go there anyway.

You can't squeeze blood from a turnip. Maybe being a turnip is a good thing?