Well, you haven't exactly convinced anyone you know how to read a chart, so why don't you give a try and tell us what that chart says?I'm not sure I should even bother trying to tell you you're wrong. You need to work on your chart reading skills...I'll leave it at that.
***SIGH***:roll:
Well, you haven't exactly convinced anyone you know how to read a chart, so why don't you give a try and tell us what that chart says?
Well, if I were trying to argue that Bill Clinton reduced the debt and I posted a chart to prove my point, I would start by reading the title of the chart. Since I know that debt and debt-to-GDP ratio are two different quantities and that my position is not supported by reality, I would stop trying to make said argument. But that's just what I would do...
Baloney. Retired people have very little to do with it. The fact is we have a fractional reserve banking system where the banks borrow money from the government to lend to borrowers. It's just like a ponzi scheme, the banks borrow say a thousand dollars from the Feds and keep 10% in reserves and then lends out the remaining $900. As the money is paid back in deposits with interest, the bank can lend out the same $900 again and again and again. It's called the money mulitplier effect and that is how money is expanded through the economy. The game is rigged in favor of the wealthy who have thousands of well paid lobbyists to suck the governments teet dry just to enrich themselves. So you might ask yourself, what the heck are you getting out of it?
I'll ask you a question, why aren't the banks lending?
LAMO, Warren Buffet is one of Obama's economic advisors.
Well, since you think you know more than the Treasury Department does about their own chart, then maybe should tell them they were wrong, too. :roll:Well, if I were trying to argue that Bill Clinton reduced the debt and I posted a chart to prove my point, I would start by reading the title of the chart. Since I know that debt and debt-to-GDP ratio are two different quantities and that my position is not supported by reality, I would stop trying to make said argument. But that's just what I would do...
:lamo Did you pull that story out of you arse? Too funny.You've stumbled upon something profound, but I'm not sure you'll be able to see through the haze of class warfare you're surrounded by. Let's try:
What is a mortgage? It's a loan that allows you to use some rich retired persons money to buy something you otherwise would not be able to afford. You obviously benefit from the transaction in the fact that you now have a place to live, so the rich retired person has performed a service for you, for which you owe them interest in return. If rich people spent every dime they earned, not only would there not be such a thing as a mortgage, they would not have any retirement income other than what they get from the government, which you'll have to pay for.
Well, since you think you know more than the Treasury Department does about their own chart, then maybe should tell them they were wrong, too. :roll:
"....After this period, the debt's growth closely matched the rate of inflation until the 1980s, when it again began to increase rapidly. Between 1980 and 1990, the debt more than tripled. The debt shrank briefly after the end of the Cold War, but by the end of FY 2008, the gross national debt had reached $10.3 trillion, about 10 times its 1980 level.
Bureau of the Public Debt: Our History
:lamo Did you pull that story out of you arse? Too funny.
:lamo Did you pull that story out of you arse? Too funny.
oddly enough he is right. The way banks are meant to work is that someone with a lot of money begins to loan his money to others. And in return he gets money monthly from interests until they have paid off the debt. Anyways that is the way the banking system is suppose to work and for some time it did. Also the banks use people(who have an account) money's to loan to other individuals and businesses.
Not quite how the big banks have been working lately.
oddly enough he is right....
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