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uncledad

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Member since: Tue May 13, 2014, 06:50 PM
Number of posts: 5,356

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Universal rules.

1 No one can fix the stupid.

2 No one can stop the crazy.

3 Never under estimate the power of the stupid or the crazy.

4 There are no restrictions to where the stupid or crazy will appear.

5 Paper or plastic.

Trump: I will eliminate U.S. debt in 8 years

The Republican presidential front-runner said in a wide-ranging interview with The Washington Post that he’d be able to get rid of the more than $19 trillion debt “over a period of eight years.”

Eliminating that amount of debt in eight years is highly improbable, according to most economists, The Washington Post reported. It could require using $2 trillion a year from the annual $4 trillion budget to pay off holders of the debt.

thehill.com/.../275003-trump-i-will-eliminate-us-debt-in-8-years

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$

Tax reform? It is not possible to reduce the debt by cutting taxes, that will increase the debt. They may cut spending on every thing, but spare the Pentagon, that would not be enough.

Can they grow the economy to do this? No, sorry that will not work. Using the numbers provided, the short fall in revenue assumes the debt will be offset by growth of 3% without eliminating the current debt.

Does the debt matter at this point? We can print money to the point the rest of the world flattens out, the monetary system around the world would no longer reflect the Dollar debt as any better than the Chinese Yuan debt.

How is this possible? The global system controlled by the upper tier who have accepted the debt to continue to fund themselves. They control access to it and receive the profits to be made from selling it. Which is why it's important to have less regulation and to lower taxes on themselves.

What's that mean? In a global economy the rich become richer and fewer, as the rest of the world becomes poorer and more numerous. Lower wages coupled with marginalized benefits is the standard for the majority of workers globally. That process becomes in bedded in the American economy to a larger degree than seen under the free trade agreements of previous decades.

Why? To maximize profits by reducing the cost of labor and overhead, jobs left the US to low cost producers.
Returning jobs would be subject to similar cost constraints. Employment would be reduced as smart machines replace more workers. This process reduces the income of wages in general which in a consumer economy slows growth. This slow growth is a component of a population that is ageing with even less replacement income producers. The consumer economy shrinks.

How about inflation? Central Banks can't force it into the economy without the cost to borrow to rise. That rise make all debt more expensive on the low end of the scale. The other end of the scale trades debt between themselves in the form of stock that will increase in value. The results of the Central Banks investments of the post 2008 crash confirm their intent to protect wealth, not wages.

Is wealth bad? No, wealth is good. What it's used for is a different consideration.

I believe trump will get tax reform, because, it's the direction those at the top intend to stay on.

Plan accordingly. Or reject this possibility. Entirely your choice.





Francis:

Our judgment lacks mercy; only God can judge

When we judge others, he continued, "we put ourselves in the place of God", but "our judgment is poor judgment;" it can never "be true judgment."

But “can’t our judgment be like the Lord’s?” wondered the Pope. “Because God is Almighty and we are not? " No, Francis answers, “because our judgment is lacking mercy. And when God judges, He judges with mercy:"

"Let us think today about what the Lord says to us: Do not judge, lest you be judged; the measure… by which we judge will be the same that will be used for us; and, third, let us look in the mirror before judging. 'But this fellow does this ... that fellow does that...' 'But, wait a minute ...' I look in the mirror and then think. On the contrary, I'll be a hypocrite if I put myself in the place of God and, also, my judgement is poor judgment.” Human judgement lacks the mercy of the Lord’s judgment, Pope Francis concluded, “May the Lord make us understand these things."
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