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Thread: Census finds record gap between rich and poor

  1. #1281
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by FederalRepublic View Post
    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...
    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.

    "....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

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by FederalRepublic View Post
    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.
    Did you pull that story out of you arse? Too funny.


  3. #1283
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Moot View Post
    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.

    "....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
    I can still read the title of your chart and it still is not a chart showing public debt.

    I can read where it says the debt shrank briefly after the end of the cold war. It doesn't say when that occurred or for how long. The cold war ended in 1991, so that doesn't mean a whole lot to your argument. Conservative posted the numbers for year end national debt since 1993 and every year the number is bigger than the one before. So, are you arguing that the debt shrank briefly for a few days or weeks? I might be willing to concede that point if you can show me something besides a graph of an entirely different quantity.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by pbrauer View Post
    Did you pull that story out of you arse? Too funny.
    More or less. Is it too simple for you? Rebuttal?

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by pbrauer View Post
    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.

  6. #1286
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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Gray_Fox_86 View Post
    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.
    The haggardness of poverty is everywhere seen contrasted with the sleekness of wealth, the exhorted labor of some compensating for the idleness of others, wretched hovels by the side of stately colonnades, the rags of indigence blended with the ensigns of opulence; in a word, the most useless profusion in the midst of the most urgent wants.Jean-Baptiste Say

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by donc View Post
    Not quite how the big banks have been working lately.
    sad but true.

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    Re: Census finds record gap between rich and poor

    Quote Originally Posted by Gray_Fox_86 View Post
    oddly enough he is right....
    Why is that odd? I'm always right!

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