TweetI hope the hell you are right FUZO. By the way, I LOVE your signature spelling out what O.B.A.M.A. stands for!!

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Originally Posted by trip

js,

i read martin armstrong regularly

ummmm, let's try this, Rule Of Law, for some reason Austrians don't get the fact the mofo's change the laws to there benefits, they think it is written in stone

u can't be bankrupt when you're assets are multiples of your liabilities

you see Believe Systems are the supreme Rulers, if you all believe we are bankrupt, then i guess you will have too pay for it

Propaganda 101 babeeeeeeeeeeeeeee, about six months ago, and now gaining traction is the phrase, "Let's Start A Discussion, have a Conversation"

the press, the talking heads, the majority has bought this idea hook line and sinker

for thirty years it was, I know What The problem is, I can fix it......................................

YOU ARE SO WRONG WE ARE BROKE MEDICARE,MEDICAID SS. DUDE YOU REALLY NEED A REALITY CHECK TRIP.

Tweetsame old same old fuzo, i'm going with the research i've done and just fine with it, it is a free country and people have the right to believe what they want, i'm fine with it

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Originally Posted by trip

js,

i read martin armstrong regularly

ummmm, let's try this, Rule Of Law, for some reason Austrians don't get the fact the mofo's change the laws to there benefits, they think it is written in stone

u can't be bankrupt when you're assets are multiples of your liabilities

you see Believe Systems are the supreme Rulers, if you all believe we are bankrupt, then i guess you will have too pay for it

Propaganda 101 babeeeeeeeeeeeeeee, about six months ago, and now gaining traction is the phrase, "Let's Start A Discussion, have a Conversation"

the press, the talking heads, the majority has bought this idea hook line and sinker

for thirty years it was, I know What The problem is, I can fix it......................................

The Austrians haven't overlooked anything. Of course they understand the rules are changed and the fact that we have a lot of assets. However, that still doesn't take away the fact that we have increased our borrowing to the extent of a $14 trillion dollar deficit. They could sell all of the gold in Ft. Knox for starters and maybe pay down enough to gain some respect back, but then they would have no gold at a time when other countries are stocking up on it. But I don't care about assets and rule changing, my concern is the inflation that comes with deficit spending and an increased debt. It is a fact that the dollar has lost 95% of its value since the federal reserve was created in 1913. Fiat money always has led to inflation. There is nothing backing our dollar except confidence from the rest of the world that it is the safest currency to invest in. Well, that confidence is falling. Even the S&P has threatened to drop our triple A rating. It's really a waste of my time to argue this though. We have different economic views and neither of us will convince the other one which is superior. I'll stick to my Austrian view and trust the teachings of Mises, Hayek, Rothbard, and others.

Trip, did you even say you doubt that ss or medicare is broke? Because I don't see where you said that. Do you think they are not broke or were you just saying nobody reads the budgets to know what's going on?

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Originally Posted by trip

js,

i read martin armstrong regularly

I wasn't familiar with Armstrong but it looks like a very unfortunate prison sentence he served. That was the government having it out for him it appears. Sotamayor was one of the judges that supported his imprisonment, imagine that, the socialist pig she is. What school of economic thought does he favor if any particular one at all? I'm surprised I hadn't heard of him. It is very unconstitutional what they did to him. Serving that much time for contempt of court, when there was no proof that he held the gold they requested.

Tweetarmstrong is kind of in the middle, understanding all sides, i'd say he leans with austrians yet is well versed in history of what governments can do and will do

fwiw, i read both obie's and ryans plan, obie adds 7 trillion in ten years, ryans 5.7 trillion, the only real difference is ryan anticipates 2.9% unemployement which we have never done and obama 4 which is historically max unemployment

the main problem is the "Law of Large Numbers", which means the bigger the number a smaller change in rate of change has a large impact, several of these are at crossroads, most folks analysis are incomplete or non-existent, and are just repetition of what they've heard lately, even politicians, if u have ever watched hearings it's saddening to hear how stupid some of our politicians are

and then some number while true when not taken in context imho don't hold alot of weight, 97% of people do not understand dollar has lost 95% in value, it has no contextual meaning

presently the situation is slowing demographics combined with stagnent employement and wages, along with low interest on savings

the underlying engine of growth for 50 years has been abundant cheap energy

take saudi arabia, it's gone from 5 million people to 25 million people in a desert, 50 years ago it's own energy use was almost non existent, now with a rich country in a crappy location, there own energy costs are running into issues because of population and they have major issues with water

all countries have lot's of issues now, ares are more easily solvable, yet, u can see how politics are hampering not helping

TweetANSWER THE QUESTION TRIP,DO YOU BELEIVE WE ARE BROKE AND MEDICARE AND MEDICAID AND SOCIAL SECURITY IS BROKE AS WELL. DONT DANCE AROUND WITH ALL YOUR JIBBER JABBER LIKE YOU DO STAY FOCUS AND BE DIRECT. ITS A YES OR NO ANSWER

Tweetlol, i said no from right up front, no no no no no no no no

the rate of change of rate of change of large numbers is what is at hand

if the other guy on the side of the table says u r broke, insists upon it, and pounds his fist saying he is, and says we must be because every one says they are, i guess it must be so, and u will give in to whatever to get over it

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Originally Posted by trip

lol, i said no from right up front, no no no no no no no no

the rate of change of rate of change of large numbers is what is at hand

if the other guy on the side of the table says u r broke, insists upon it, and pounds his fist saying he is, and says we must be because every one says they are, i guess it must be so, and u will give in to whatever to get over it

Well then we disagree. I cannot consider us to be anything other than flat broke with the debt we have and the meas we use to fund our spending. When you have to borrow money to fund programs that means you do not have the cash to fund them. Assets aren't of concern because we aren't going to sell any of them. However, we are leveraged with them if it comes time to pay up and we can't afford to. The dollar is a fiat currency, which means we have been broke since establishing it. There is nothing backing it except confidence. Once confidence is gone you hyper-inflate, or have high inflation at a minimum. There are plenty of examples in history but nobody wants to consider them, or if they do they say American is the exception. That will prove to be incorrect in due time. Paper money with no gold or silver or other commodity backing it is just paper money. It is no more valuable than monopoly money once confidence is lost. If China and other countries stop buying our bonds we are going to wake up immediately and realize how foolish we were to establish the Fed and allow the government to spend as much as they want. Your boy Armstrong cannot have any leaning toward the Austrians unless your views are not in check with his.

Tweetjs,

i think for myself, do my own research and come to my own conclusions

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Originally Posted by trip

lol, i said no from right up front, no no no no no no no no

the rate of change of rate of change of large numbers is what is at hand

if the other guy on the side of the table says u r broke, insists upon it, and pounds his fist saying he is, and says we must be because every one says they are, i guess it must be so, and u will give in to whatever to get over it

SO TRIP ARE YOU AGREEING BECAUSE EVERYONE SAYS SO BUT HOW ABOUT ACTUALY LOOKING AT THE DEBT AND THE FACTS,JOBS DOWN,UNEMPLOYMENT UP,HOUSES IN FOR CLOSERS JUST ALL THAT STUFF. BECAUSE I WANT TO MAKE SURE YOU THINK YES WE ARE BROKE NOT BECAUSE PEOPLE ARE SAYING WE ARE

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Originally Posted by trip

js,

i think for myself, do my own research and come to my own conclusions

I know you do Trip and I respect that. I do my own research too, but I do consider the research of other economists whom I trust and agree with. My research is based off of others' research. I am not an economist, thus I am not going to get all of the data myself and put together charts and curves. I can view my brother's research and other papers written by economists. However, I do go and check the sources where they get there numbers. That is the easy part when you read papers and journals that have been published because they have to include sources for everything. Furthermore, the Austrians that I read include their sources as well. A good economist will always reference where the information came from.

How you can do research and not come up with the fact that we are broke is beyond me. That tells me that you believe in the Fed's ability to continue its monetary expansion as much as they want. I assume you also believe they can do as much quantitative easing as they feel the need. Yet this is precisely why the dollar is getting weaker. I suppose eventually they could just pay off all of the debts by printing up 14 Trillion in cash, but what would that do to the value of the dollar. This is how countries pay off their debts when they go into hyperinflation. Hence the fact that countries have inflated their way out of debt. You pay off all debts and render your currency worthless, then start over with a new currency. Look at Zimbabwe for instance. They hyper-inflated and cancelled their currency. But now they are getting smart because just last week I read that their government is considering a gold standard. How about that? And yesterday I read an article that says the "European Parliament wants PIIGS (Portugal, Ireland, Italy, Greece, and Spain) to pledge their gold as collateral for bank loans of fiat money." https://www.zerohedge.com/article/eur...old-collateral

That is hilarious. The same idiots that think gold is worthless and not useful for backing a commodity is more than happy to let those countries put up gold as collateral. And the hypocrisy continues.

Tweetjs,

i've read those other stories also, alot of that stuff is noise, no different than folks brainstorming, and says xyz to some reporter and a need to report something

alot of u guys think govt is messed up, liars, all kinds of bad stuff, yet, u believe them when some congressman say we are broke

i read zerohedge daily, almost every article, i find it interesting, my own personal goal is too listen too all sides, and learn and grow