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April 6, 2011 @ 05:54 PM
FROADS

Post: 1387

Join Date: Jul 2009

Location: East L.A

TL; DRcool

Seriously though..I don't know why the media likes to scare the fuck outta the suburban folk. ♥♥♥♥♥s get scared easily. "oh, fuck! the country is in debt, gotta tivo that Bill Maher"-or-those emo/fauxhawk rockin deusches complainin on how we shouldn't have gone to war n shit. ♥♥♥♥♥s get deceived so easily by the fuckin media that they overlook on how comfortable they're fuckin livin.

Our Income Per Capita is among the highest in the world..A minimum wage worker in the U.S can probably feed up to ten chinese households. Real talk, none of u ♥♥♥♥♥s are physically starving..Ya'll may not have that luxuriant/swag lifestyle but I bet you can feed yourself with the minimal. Mickey D's dollar menu, fuckin Top Rammen, etc. Soft ass generation imo
April 6, 2011 @ 06:13 PM
JCrewkid

Post: 809

Join Date: Mar 2010

you just typed up a hell of a lot of fail right there. their living conditions? it's only going up as we owe them. 15 trillion bucks? you know how much of that was made with borrowed money?


That is EXACTLY the whole point of borrowing money. It is to invest or do something that will make you more money. We BORROWED money for WWII, we then again BORROWED to build the interstate highway system, and now we are borrowing again. Every country borrows at one point or another. I don't even know why I'm talking to your stupid ass, because your response was beyond retarded with no supporting information.
April 6, 2011 @ 06:17 PM
JCrewkid

Post: 809

Join Date: Mar 2010

TL; DRcool

Seriously though..I don't know why the media likes to scare the fuck outta the suburban folk. ♥♥♥♥♥s get scared easily. "oh, fuck! the country is in debt, gotta tivo that Bill Maher"-or-those emo/fauxhawk rockin deusches complainin on how we shouldn't have gone to war n shit. ♥♥♥♥♥s get deceived so easily by the fuckin media that they overlook on how comfortable they're fuckin livin.

Our Income Per Capita is among the highest in the world..A minimum wage worker in the U.S can probably feed up to ten chinese households. Real talk, none of u ♥♥♥♥♥s are physically starving..Ya'll may not have that luxuriant/swag lifestyle but I bet you can feed yourself with the minimal. Mickey D's dollar menu, fuckin Top Rammen, etc. Soft ass generation imo



Exactly, how the fuck can you afford to go out and buy hundred dollars Supreme tees then go on here crying about the debts of this nation?

♥♥♥♥♥, some African countries have a surplus of money and there citizens are walking around barefooted.
April 6, 2011 @ 06:19 PM
JCrewkid

Post: 809

Join Date: Mar 2010

you just typed up a hell of a lot of fail right there. their living conditions? it's only going up as we owe them. 15 trillion bucks? you know how much of that was made with borrowed money?



I thought I already put that dollar sign ($). Did you really need to reiterate that to me?
April 6, 2011 @ 06:45 PM
ftp504

Post: 253

Join Date: Jun 2007

Clinton left us with a surplus and we ruined that.


This isn't even close to being true.

U.S. National debt is comprised of two parts: public debt + intergovernmental holdings. Under Clinton the public debt went down and intergovernmental holdings went up by a huge amount. The net effect is that the national debt went up $1.4 trillion. All Clinton did was count Social Security in his budget and called it a surplus. It was all accounting smoke and mirrors...
April 6, 2011 @ 06:55 PM
JCrewkid

Post: 809

Join Date: Mar 2010

This isn't even close to being true.

U.S. National debt is comprised of two parts: public debt + intergovernmental holdings. Under Clinton the public debt went down and intergovernmental holdings went up by a huge amount. The net effect is that the national debt went up $1.4 trillion. All Clinton did was count Social Security in his budget and called it a surplus. It was all accounting smoke and mirrors...


You got evidence to back this up? I know the surplus was a projected not an actual one, but Clinton pretty much kept a balanced budget throughout his presidency. If there wasn't any money, where did Bush get all his paper from to destroy then rebuild Iraq?
April 6, 2011 @ 07:11 PM
ftp504

Post: 253

Join Date: Jun 2007

Chart from: www.treasurydirect.gov/NP/BPDLogin?application=np

The Chart In order: Fiscal Year, Year ending, National Debt, and last shown is Deficit.

FY1993 09/30/1993 $4.411488 trillion
FY1994 09/30/1994 $4.692749 trillion $281.26 billion
FY1995 09/29/1995 $4.973982 trillion $281.23 billion
FY1996 09/30/1996 $5.224810 trillion $250.83 billion
FY1997 09/30/1997 $5.413146 trillion $188.34 billion
FY1998 09/30/1998 $5.526193 trillion $113.05 billion
FY1999 09/30/1999 $5.656270 trillion $130.08 billion
FY2000 09/29/2000 $5.674178 trillion $17.91 billion
FY2001 09/28/2001 $5.807463 trillion $133.29 billion

In no year did the national debt go down. Clinton did not leave President Bush with a surplus that Bush subsequently turned into a deficit. The deficit was almost eliminated in Fiscal Year 2000 ending in September 2000 with a deficit of only $17.9 billion but it never reached zero let alone a positive surplus number. Clinton's last budget proposal for Fiscal Year 2001 which ended in September 2001 generated a $133.29 billion deficit. The growing deficits started in the year of the last Clinton budget not in the first year of the Bush administration. President Bush took office in January 2001 and his first budget took effect October 1, 2001 for the year ending September 30, 2002, Fiscal Year2002. So the $133.29 billion deficit in the year ending September 2001 was Clinton's.
April 6, 2011 @ 07:20 PM
JCrewkid

Post: 809

Join Date: Mar 2010

jcrew.. you're a fucking idiot. wtf are you talking about? if the u.s made 15 trillion, how much of that do you think needs to be owed back? I don't even know why I'm talking to your stupid ass, because your response was beyond retarded with no supporting information.you sound like a typical dumbass american nigg.a with a credit card. yeah you bought 10 grand of gucci today. you look rich flaunting your shit you dont actually own yet. and then comes your bi-weekly paycheck from mcdonald's. what's the sum on your check? oh it's only 3 grand? shit you're still 7 grand in debt but you spend another 10 grand the next day on gucci. the cycle continues...



You are one stupid ass mother fucker--the same faggot who received the Obama stimulus check who is now crying about the national debts.

Look like I need to show this retard a "picture" for him to learn something.



Now calculate the debt-to-GDP.

The U.S. has been in debt since the 1920s yet our GDP (economy for your dumb ass) has grown 1500%.
April 6, 2011 @ 07:38 PM
JCrewkid

Post: 809

Join Date: Mar 2010

hahaha oh man you're stupid. did i mention that you are stupid? you seriously pulled out a picture? seriously? if the economy was actually simple enough to be described in a single picture, then any dumbass (you) could run the world. and you again ignored what i said even though i explained it as dumbed down as i can. you think our economy is growing. yeah it's growing on borrowed time and money and we continue to do that. borrowed money that we never seem to be able to owe. what was the point of that stupid picture anyway?



You can't even type a coherent sentence let alone explain something that in-depth.

You probably slid out your crack head mama's loose vagina, hit your head on the hospital floor then got stepped on by your gay daddy for being too ugly--that's the only reason that would explain your stupidity.
April 6, 2011 @ 07:57 PM
JCrewkid

Post: 809

Join Date: Mar 2010

ooooo i guess you admit that you don't know what the fuck you're talking about by issuing the elementary school insults. it sucks for you that an incoherent retard like me just showed you how much you don't know about the economy. you sure take an L like a true loser hahaha. mama jokes? LOL. it's your bed time son.


You didn't explain shit. You couldn't teach a kid how to tie his shoe laces. I just got tired of talking to a fool so I gracefully bowed out. I find it hilarious that someone who doesn't even know to capitalize after a period is trying to explain the subject of economics. You win.
April 6, 2011 @ 08:03 PM
sharky

Post: 1228

Join Date: Feb 2010

Location: gta

ayo canada ftw we in this
April 6, 2011 @ 08:12 PM
Constellations

Post: 3054

Join Date: Jan 2010

Location: LeBroward County, Fl...

You didn't explain shit. You couldn't teach a kid how to tie his shoe laces. I just got tired of talking to a fool so I gracefully bowed out. I find it hilarious that someone who doesn't even know to capitalize after a period is trying to explain the subject of economics. You win.


how did you gracefully bow out? you insulted his mother

\X/

April 6, 2011 @ 08:13 PM
Homes

Post: 509

Join Date: Oct 2008

Location: Seattle

not sure if this thread is srs

Am I the only person in this thread who has taken a basic econ, accounting, or financial history class?

Us having such a huge debt is dangerous, but it's dangerous for EVERYONE. Brief history:

1)After WWII, the Allies all got together to put together a system of global finance because they were tired of crazy depressions and shit. This was called the Bretton Woods Conference. One of the things that was decided at this conference was that the international monetary system would be pinned to the strength of the dollar, which was most stable at the time because it was pinned to America's massive gold reserves.

2) In 1971, Nixon formally un-pinned the dollar from gold because America had effectively spent them all up and was issuing I.O.U.'s (essentially, this is when we really began racking up debt) because American products had European products to compete against in the international market after those countries recovered from WWII.

3) The effect of this was that currencies are now valued in foreign exchange markets. A currency is valued by how much it is in-demand; as you can see, the dollar is still a dominant currency in markets all over the world.

China owns our debt because they buy a majority of our bonds. Other Asian countries also buy a lot of our bonds. This probably means nothing in the near-future. The thing with loans is, you lose money when the person you loaned money to defaults, or can't pay. China has bought so much of our debt that THEY can't afford for us to default on our loan just as much as we can't. Not to mention that the US defaulting on loans and going into economic ruin would wreck economies and spark the worst worldwide depression in history. With the way the world works now, the UN would probably forgive our debts or allow us longer to pay if it ever came to that or us defaulting. Having such massive debt is dangerous, but unless the global infrastructure set up today completely fails, no one is ever going to let that happen. It's similar to the "mutually assured destruction" theory of nuclear warfare.

TL;DR Yes we owe huge debts to China, but NO ONE can afford for us to default on those loans. We're safe for now.
April 6, 2011 @ 08:42 PM
bonemarrow

Post: 2300

Join Date: Mar 2011

Location: eastcoast

its not chinas fault. its not even really to american politicians fault or the feds fault. its the fault of the american people. we are the ones who demand cheap goods... cheaper than can be manufactured in the us. we are the ones who vote in politicians who promise to cut our taxes and bitch about government waste, yet continue to support the wars we fight all over the world. we are the ones who continue to suppor the buisness who move to other countries to get around labor and tax laws.


basically this but american's owe each the debt not china. We are not gonna collapse anytime soon. The only way it could happen is a war on our turf/ or land becoming worthless

http://www.last.fm/user/basedvern

April 6, 2011 @ 09:01 PM
JakeF.Baby

Post: 946

Join Date: Dec 2008

Location: candyland

the eye on the dollar is watching us
April 6, 2011 @ 09:39 PM
KUSH

Post: 604

Join Date: Mar 2006

April 6, 2011 @ 10:31 PM
jtangtwenty3

Post: 1082

Join Date: Dec 2010

Location: chicago/cincinnati

the thing about glenn beck and these videos and arguements is that even if you assume everything they say is wrong with america is true, (and there are a lot of things wrong, we are spending too much both as individuals and as a country, there was a lot of money wasted on trivial shit with the stimulus package), they end up giving no solutions. changing everything to 100% free market libertarian is not gonna fix shit, it essentially just says every man for himself, it is more a moral belief than a viable economic strategy at this point. people will look to maximize profits in any way possible, including continuing to outsource to china, india, etc. any way you look at it our economies are tied and inseperable.
at the very best the intergovernmental debt will stop growing quite so quickly, but it will never be repaid. at the same time the rich will get richer and the poor will be exploited. consumerism will continue and possibly even grow. the thing thats funny about the china video is that china is gaining its power by doing exactly what beck is saying we are doing, tampering with the economy instead of letting the monetary system float. china cant even back up all the bonds they are buying, their dollar value is fabricated based on expected income from products bought by the u.s. this essentially puts china in debt to us at the same time as we are in debt to them.

our only real hope is to rethink the way government and economics works entirely and stop looking to blame the opposite side of the political spectrum, other countries, etc.(yes, i realize the irony of me saying this as i was just bashing the right, i honestly dont dislike the right as much as it may seem. in fact my father is a free market libertarian and i was essentially raised to be one, its really more people like glenn beck that piss me off, a media personality who uses govenmental terms and fear tactics to gain attention power and RIDICULOUS sums of money, while telling people that the'right way to do things is to just keep doing what our nations founders thought we should do several hundred years ago. things were a little different back then. ideas of credit, mass production, and advanced theories on fiscal policy hadnt even been imagined yet. there is no telling what our founding fathers would believe now).

the way i look at it, we need to rethink everything and develope a legit model for a more globalized economic structure in which all economies are linked and thus must work together. at the moment, world powers are battling for control of fuel and such, exploiting smaller countries and supplying countries like saudi arabia with weaponry. i dont care if the model plane we are giving them is from the 70's, they are still gonna use it to kill people, and it still contribute to the military industrial complex, something that i have yet to see mentioned in this thread and something which imo is more of a problem than anything else...

...at the moment, america needs war not only because we are trying to get oil but because military technology and production are HUGE parts of our short term economy, and, ironically, also a huge part of our long term debt. as a part of the globalization of economy, this needs to be wiped out. we need to stop puting so much time effort and money into advanced weaponry and more into things like education, advanced medicine, alternative fuel, etc. if it werent for spending so much on war, america would be significantly less indebted and could have had super legit education and healthcare systems, and could have some pretty swagged out infrastructure and electric cars and all that shit. instead we have afganistan rebels shooting our soldiers with guns we gave them because we fought a war with russia on their soil, genocides in africa using formerly u.s. military paraphernalia, etc. and a number of enemies trying to imitate us and develop nuclear weaponry. honestly we dont deserve what we have right now lol.


anyway, long story short, fuck glenn beck and bill maher. fuck the system we have now. fuck hate and fear based politics. fuck consumerism. fuck war.
YAY!REVOLUTION!Whoohoooo!!!smile
April 6, 2011 @ 10:32 PM
jtangtwenty3

Post: 1082

Join Date: Dec 2010

Location: chicago/cincinnati

oh one more thing, legalize weed and tax that shitcool
April 6, 2011 @ 11:13 PM
wcac26

Post: 160

Join Date: Feb 2010

fuck FOX news.
April 6, 2011 @ 11:22 PM
jtangtwenty3

Post: 1082

Join Date: Dec 2010

Location: chicago/cincinnati

fuck virtually all news lol
April 7, 2011 @ 12:55 AM
ThirdEyeOpen

Post: 532

Join Date: Dec 2007

www.youtube.com/watch?v=EewGMBOB4Gg
www.youtube.com/watch?v=4Z9WVZddH9w

Take everything here with a grain of salt but a lot of it makes sense...
April 7, 2011 @ 12:58 AM
gnar

Post: 1545

Join Date: Oct 2009

Location: Vegas

LMFAO! You come up with Jon Stewart.. seriously?! A comedian.. doing what he does, makes fun of someone.. & you think that Glenn Beck is crazy... There is really nothing legit about what Jon Stewart is saying.. Just doing his part & try to make people laugh. He didn't try to disprove anything Glenn Beck said.. smh


lol. you watch Glenn Beck.
April 7, 2011 @ 02:00 AM
Blunted at birth.

Post: 634

Join Date: Feb 2010

Location: Greater Los Angeles...

LOL @ people legitimately watching glenn beck....WOW.

Anyways dude, Quantative easing 3 is about to roll out which is going to put another 900 Billi in circulation for the third time smh. DAT HYPERINFLATION on the way.
www.usatoday.com/money/industries/retail/2011-03-30-wal-mart-ceo-expects-inflation_N.htm
As fiat currency become further debased by the FEDS usual money printing and other dirty shit, Ima be chillin because i am buying herra silver right now. 22% growth in just the 4 months of 2011? show me any other investment that has an ROI even close.
www.youtube.com/watch?v=yEfLzZHDtBc&feature=player_detailpage
I know most of you prolly dont care about this shit since you are like 16, but old heads take notice. WATCH THE TRENDS. DO RESEARCH. DONT TAKE ANYONE ELSES ADVICE, LEARN YOUR SHIT.
April 7, 2011 @ 03:47 AM
dylan fisher

Post: 818

Join Date: Apr 2009

Location: seattle

trump for president in '12. lol

Easy mang...

April 7, 2011 @ 04:05 AM
curtis50cent

Post: 1052

Join Date: Feb 2007

better get used to listening to this ayo coolcoolcool

www.youtube.com/watch?v=qcLBCnX8fM0&feature=fvwrel

fiddy luvs china, china luvs fiddy
April 7, 2011 @ 04:29 AM
CHOPZZBISCUIT

Post: 4359

Join Date: Jan 2010

Location: KALI4NIA


A good movie that talks about the real debt concern:



^i've watched this movie too. very through and accurate.

you'll learn a lot of things and many of them will make you fucking pissed off at this system.

www.youtube.com/watch?v=HBo2xQIWHiM
Here is the trailer and the entire movie is uploaded on youtube as well.

MUST SEE MOVIE. I HIGHLY RECOMMEND THIS TOO.

Kayv: pull bitches, not triggers. throw parties, not fists. futurebass : my mom said life is like a box of kimchi. chopzz.tumblr.com

April 7, 2011 @ 11:50 AM
Hellah Fresh

Post: 4014

Join Date: Dec 2006

Im not going to lie i am a business owner and everything economy wise has gone down the drain. As a business owner alot of our customers are from the aircraft industry. Due to how bad things have gotten over the past 3-4 years the aircraft industry has laid off atleast up to 7000+ (not sure of the exact numbers but around there or more) workers in my city. So therefore we lost lot of business and im to the point where i don't even buy much shit as i did before. I used to buy $300 kicks, tees, hats, and etc.. monthly without thinking twice about it. As of now i barely shop anymore and i tend to only buy shit that i need. But yeah this is effecting everyone in someway.
April 7, 2011 @ 12:12 PM
jtangtwenty3

Post: 1082

Join Date: Dec 2010

Location: chicago/cincinnati

Im not going to lie i am a business owner and everything economy wise has gone down the drain. As a business owner alot of our customers are from the aircraft industry. Due to how bad things have gotten over the past 3-4 years the aircraft industry has laid off atleast up to 7000+ (not sure of the exact numbers but around there or more) workers in my city. So therefore we lost lot of business and im to the point where i don't even buy much shit as i did before. I used to buy $300 kicks, tees, hats, and etc.. monthly without thinking twice about it. As of now i barely shop anymore and i tend to only buy shit that i need. But yeah this is effecting everyone in someway.


bummer...
April 7, 2011 @ 12:36 PM
jtangtwenty3

Post: 1082

Join Date: Dec 2010

Location: chicago/cincinnati

www.youtube.com/watch?v=EewGMBOB4Gg
www.youtube.com/watch?v=4Z9WVZddH9w

Take everything here with a grain of salt but a lot of it makes sense...


thank you for these links. not totally convinced on the legitimacy of all these arguements, and this is without a doubt essentially propoganda, but it does bring up some really interesting ideas and i feel like at least its a step in the right direction as far as innovative thinking goes.
April 7, 2011 @ 02:46 PM
JCrewkid

Post: 809

Join Date: Mar 2010

Im not going to lie i am a business owner and everything economy wise has gone down the drain. As a business owner alot of our customers are from the aircraft industry. Due to how bad things have gotten over the past 3-4 years the aircraft industry has laid off atleast up to 7000+ (not sure of the exact numbers but around there or more) workers in my city. So therefore we lost lot of business and im to the point where i don't even buy much shit as i did before. I used to buy $300 kicks, tees, hats, and etc.. monthly without thinking twice about it. As of now i barely shop anymore and i tend to only buy shit that i need. But yeah this is effecting everyone in someway.


Omg so sad...I teared up a little.

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