justin_o_guy2
Serious Thumper
   
Offline

What happened?
Posts: 55279
East Texas, 1/2 dallas/la.
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I agree with much of that,, many would call that an isolationist approach, Id call it Non interventionist,, Isolationists wont trade with others, non interventionists dont mess with their policies, but trade freely,, I am a non interventionist,,
As for the debt, who is it we owe? Lets pick one & describe the transaction..Lets say we are gonna pay China off first.. say, over a period of a few years, They bought T-bills, right? With what? OUR dollars or their Yuan? When they bought them, they had a fixed rate of return. As they mature, theyre owed more than what they bought them for. Lets just have a $10,000.00 T-Bill example, say its worth 10% more at the end of 10 years, just to keep numbers easy. So now, we owe them $11,000.00. Where does that $$$ come from? Do we pay them in Dollars or Yuan? I know when we cashed some in,, we got dollars..& how is it paid out? Its a ponzi of the greatest scale,, The Fed sells more T-bills & uses the $$$ to pay out. & WE get hung with the debt,, & at 17 trillion dollars, youve gotta take that debt & divide it, not among the population, but among the working population, & the figure Ive hear is about 170 million.Which means that 170 million workers only need to generate taxes paid in Specifically aimed at debt reduction, in addition to their other taxes & in addition to their obligations, like cars/house/insurance/electric, etc.etc..OHHHH about a Million dollars each..Now, unless the debt growth is HALTED and payments to bring it down are started. America is as doomed as the Roman Empire was.
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