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2009-08-27 Home Front: Politix

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Posted by Sherry 2009-08-27 10:59|| || Front Page|| [3 views ] Top

#1 To "covet your neighbor's property" was condemned as a sin thousands of years ago. Recognized as evil, along with murder & lying. No plans based on the systematic violations of the 10 Commandments is going to end well.

Posted by whatadeal 2009-08-27 11:37|| 2009-08-27 11:37|| Front Page Top

#2 ....and simply using the institution of government to break the commandment 'thou shall not to steal' doesn't make it legit either.

Posted by Procopius2k 2009-08-27 12:52|| 2009-08-27 12:52|| Front Page Top

#3 There is one more, perhaps most insidious possibility. The unleashing of this massive, borrowed tidal wave of cash will produce the largest onset of inflation ever seen in American history. Debt is a fixed amount based on face value of the instruments, but actual money is not really face value, but purchasing power, often best represented by the theoretical basket of goods. Massive inflation will literally result in the diminuation of the national debt in terms of real value, what economists call monitizing the debt. Essentially printing more money and essentially stealing the actual value of every private holding in America through lost real value. This is the solution to Medicare and Social Security, since you can still make the payments, just know that they have less real value. The trick will be the adjustment of the inflation affected tax rates without corresponding cost of living markers in the entitlement laws/regulations.
Seeing them remove the links will be the proof of this.
Hope I'm wrong, because it will end very badly...

Posted by NoMoreBS 2009-08-27 13:41|| 2009-08-27 13:41|| Front Page Top

#4 #3 - I think inflation is kind of low on the ladder of risk this country is on. The US has to borrow about $3 billion a day just to keep functioning. An unknown number of US banks are insolvent, kept alive only by accounting trickery & federal bailouts. The FDIC, which was created to protect society from deposit runs, is no longer able to fulfill its mission because the biggest banks have grown far beyond its grasp. The amount FDIC has to back up the deposits it supposedly insures is a small fraction of the deposits actually at risk. This can't go on forever. The US economy is not as resilient as VDH seems to think.

Posted by Anguper Hupomosing9418 2009-08-27 15:00|| 2009-08-27 15:00|| Front Page Top

#5 It's safe to print money to repay depositors when a bank goes insolvent as bank bond defaults are highly deflationary.

Posted by Bright Pebbles 2009-08-27 20:15|| 2009-08-27 20:15|| Front Page Top

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