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Is everybody happy with they new tax law
On Sat, 13 Jan 2018 07:02:02 -0500, "Mr. Luddite"
wrote: Debt as it relates to global economics is a transparent, phony concept period. There's no underlying standard or base to it. Debt is only real to common people tied to the banking systems via mortgages, credit cards or loans and the penalties for defaulting are governed only within the rules of the banking systems. Global (national) debt doesn't mean a thing. To be concerned with it assumes you think a "note" is going to be called and it is going to be repaid someday by someone. It isn't. It's factored into global trade and international finance. To think it is like a bank loan that has a maturity date tied to it isn't real. A maturity date doesn't exist. If there aren't enough revenues to pay the phony interest, the government just prints more money. === That's an interesting theory but there's plenty of historical evidence to indicate that there are consequences to excessive sovereign debt. I would hold up Brazil, Argentina, Greece and Italy as prime examples. Their debts eventually became so overwhelming that no one would lend to them on any terms, and their ability to conduct foreign trade was severely impacted. As they printed more and more money, their rate of inflation reached astronomical levels and currency became virtually worthless. It's not a good place to be. Eventually foreign banks and governments step into the situation and take charge on their terms. Do we really want the Chinese or Saudis dictating our internal policies? --- This email has been checked for viruses by AVG. http://www.avg.com |
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