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Thread: The coming 'tsunami of debt' and financial crisis in America

  1. #11
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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by ksu_aviator View Post
    An absence of a better solution from one poster does not mean your simplistic, uneducated "solution" is correct or that his assessment was wrong.
    Good moral support there!

  2. #12
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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by Kurmugeon View Post
    Questions for Debate:

    Is there any credence to this model?
    Some. But the model fails to account for the upward pressures that result from lack of demand. As demand for goods and services drop, prices drop. That will slow the rate of decline. I don't know how much. It will depend greatly on how many people must cut back and how much they must cut back. It will also depend on legislative action. Most likely, our government will find a way to forgive debts by blaming creditors. It will come in the form of rate caps or some other restrictions. You will also see lower wages as a result. So calculating the exact affect on the economy.


    Can it be countered or stopped? How?

    Can it? Sure. We could pass a law forgiving debts, destroy creditors/banks and then prop them up with "bail outs" or "loans" with money we print. Should we? No. Sometimes you just have to pay the piper.

    When the American common people are force to default on personal debt en-masse, doesn't it follow that the American Government will also have to default as well?
    Until the government is forced to stop printing money, then no. If we can stop them from printing money, then eliminate so called mandatory expenditures, then balance the budget, then maybe we can pay down the debt. As it stands right now, only people, governments and businesses that can't print money will have to default.



    Does the solution lie in Government Action, or in the Private Sector, or Both?

    Is it to late?

    -
    I don't think we can change anything until a non-fiat currency becomes prominently available.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by RDS View Post
    Good moral support there!
    I consider honesty more morally supportive than dishonesty. If I were to prop you up with flowery words telling you that your bad idea wasn't bad, how could you improve beyond bad?
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  4. #14
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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by ksu_aviator View Post
    I consider honesty more morally supportive than dishonesty. If I were to prop you up with flowery words telling you that your bad idea wasn't bad, how could you improve beyond bad?
    Don't need your flowery words.

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by RDS View Post
    Don't need your flowery words.
    Then quit crying about it.
    You, my brothers and sisters, were called to be free. But do not use your freedom to indulge the flesh; rather, serve one another humbly in love.For the entire law is fulfilled in keeping this one command: “Love your neighbor as yourself.”

  6. #16
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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by RDS View Post
    Spend about $500 billion to fix up your aging infrastructure. That would create jobs, demand, improve the economy etc.
    Problem is the money would never be spent. If you recall, we had this sort of idea with the stimulus package, and that went no where. If you want the infrastructure fixed, it's going to have to be outsourced to the private sector. As far as energizing the economy, tapping into the vast reserves of energy the US has would fix the problem within a decade, along with several others that I won't expand upon (take too long to enumerate all the reasons this is a good idea). If you don't believe me, just go look at North Dakota.

  7. #17
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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by Hamster Buddha View Post
    Problem is the money would never be spent. If you recall, we had this sort of idea with the stimulus package, and that went no where. If you want the infrastructure fixed, it's going to have to be outsourced to the private sector. As far as energizing the economy, tapping into the vast reserves of energy the US has would fix the problem within a decade, along with several others that I won't expand upon (take too long to enumerate all the reasons this is a good idea). If you don't believe me, just go look at North Dakota.
    Spending creates a multiplier effect. If there are other problems outside economics then best of luck.

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by RDS View Post
    Spending creates a multiplier effect. If there are other problems outside economics then best of luck.
    So how come the stimulus package failed RDS? Why didn't it, as was correctly noted earlier, work for Japan? Throwing money at a problem, especially with as bloated a bureaucracy as the US has, doesn't mean you are going to fix the problem. Did you know that the US spends more money on education, per student, than anyone else in the world? The Education Department gets around 70 billion dollars every year. Just how well has that worked out for us?

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by Hamster Buddha View Post
    So how come the stimulus package failed RDS? Why didn't it, as was correctly noted earlier, work for Japan? Throwing money at a problem, especially with as bloated a bureaucracy as the US has, doesn't mean you are going to fix the problem. Did you know that the US spends more money on education, per student, than anyone else in the world? The Education Department gets around 70 billion dollars every year. Just how well has that worked out for us?
    Requires some in-depth study.

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by RDS View Post
    Requires some in-depth study.
    What does? The fact that unemployment is still crap (along with the rest of the economy) or that our education system is crap? As an American, I can happily answer the question... they both really are crap.

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