The student loans were never going to be paid back by students. The house mortgages were never going to be paid back by buyers. The government debt is never going to be repaid by tax payers. The SS has no assets of any kind and taxes will have to go higher to pay ever less benefits as fewer people work and they are paid less to work, so that ponzi scheme will also never be funded; the government won't stop sending out the checks of-course, but the debt cannot be repaid. Same with Medicare. The banks cannot repay the bail out money, instead the Treasury monetizes the bad debt.
All of these things are brought to you by the "counterfeit often, counterfeit big" monetary policy, and they call Madoff a thief.
I do not want an 'educated/rational populace' in exchange for slavery. I want government out of all economic decisions. We are witnessing right now the global end of the fiat currency and of the socialist state. It's not going to be pretty, as it's going to be replaced with dictatorships (it's already a dictatorship in US and in Europe too, with the dictators meeting in Brussels and in Washington DC.)
The debt ceiling crisis was fake.
It was a fake crisis, if the debt wasn't increased the SS/Medicare payments wouldn't have stopped, but government would have had to cut spending in order to actually start living within its pathetic means.
Debts are not required to be repaid under Constitution, that's a complete misunderstanding of what the word "validity". Just because some debts back in the Civil War were acknowledged to be valid, doesn't make it any more necessary to pay any debts. A valid debt can be valid alright, and it still doesn't have to be paid if there is no money, that's what bankruptcy and restructuring is for.
Tea Party had no effect on government spending at all, the spending increased this year by at least 5%, it didn't decrease a bit.
Constitution does NOT forbid unpaid debts, learn to read.
Obama is being a King by increasing public debt by 1,000,000,000,000 USD without actually asking the people, who are representatives of the tax paying public - do they agree to put this on their books as a liability or not?
You are a hack, and I unfortunately still can't post under my own fucking nick here.
Bush was a war monger too, but this one actually uses his 'executive order' to go even beyond war. What right does he have to do executive order to basically write off.5 to 1 Trillion USD worth of student debt?
He is supposed to go to Congress to approve any new spending, and this is a trillion dollars worth of new spending, because this is the money that is guaranteed by the government to the banks and will have to be 'printed' and returned to the banks, because students won't have to.
In July - August of 2011 they went through a charade of raising the debt ceiling by that much, by 1 Trillion, now he adds that much to the debt with a stroke of a pen.
He just may push his 'jobs' plan that way too. He thinks he is there to act, when Congress is not acting, completely disregarding the fact that he is not supposed to be acting if Congress is not acting, especially on any new spending.
Yes, Bush was a war monger. So was Clinton. Bush before him was too. Every POTUS since WWII basically, because the real national agenda of USA is to bomb and to make the military industrial complex richer every day.
Americans would get their chance every 4 years anyway, but during the 4 year period (and we are talking about POTUS and his 4 years, but this should apply to all members of government) everything would be open and on the record.
He will go into war with Iran. He won't allow Congress to declare anything, he will just go into that war.
He now believes he is a King, no less. He abuses the executive order (he is not using it, he is abusing it for things it is not meant to be used). He is completely corrupted by the power, he is a war monger.
Was this a glitch or was this done on purpose, by the way?
Also this shows the insanity - Obama says Netanyahu is a liar (as if Obama or Sarcozy are not liars), and all of these liars are up there, dealing the cards of nations.
Do you trust any of these people? If you do - you are insane.
Obama will start a war with Iran. Any other candidate will except for two: Ron Paul (and Gary Johnson probably wouldn't either).
It's tiring that all these liars are on top and making all these decisions for nations and economies, etc. Take the power back from them.
None of what these people do should be secret. They shouldn't be allowed anywhere without a number of cameras and microphones on them always and everything should always be transmitted out to the public.
Even if they read the bills, who says they will understand them?
Do you know that when lobbyists write bills, they write them in a way that is cryptic on purpose?
Something like this: "repeal the section 17.0/2 of the 173 under 108 to amend" - figure this out even if it's read out loud.
Yes, I am not a lawyer, my point is that government is evil by design, but people need the evil government to do some amount of evil that needs to be done and people must pay for it. But people need to understand that government is evil by design and that it should be kept to a minimum and it should not be allowed to trample all over people's right and it shouldn't be allowed to grow.
In worst case scenario I would put actual limits on amount of money that government can spend, like say: government cannot spend more than 500 Billion USD / year. That's it - they are given a fixed amount and they have to figure out how to live within that.
But this only makes a difference if gov't cannot borrow and print - that's how they went over the natural barrier of taxes. They can't collect more than 18-20% real income tax no matter what and if they try to raise taxes to pay for the real spending, then people will realize what a monstrosity they have in front of them.
You are correct - all bills must be Constitutional. That's why from now on, government should not even be allowed to increase the size of the federal register. They have 100 years of unconstitutional garbage in there and it needs to be repealed.
Congressmen and Senators should have term limits. So should laws.
ALL Financial services are a ruse, because they are predicated on "investing wisely" -- which is always a pitch of "getting back more than you put in." For every wise investment to do better than just the average of stocks, SOMEONE has to lose.
- not true at all. The large firms that are protected and propped up by the government, the large firms that use FINRA to make sure that no small firm can enter the market and become a competitor, yes, those are mostly about gambling nowadays, and that's because government has provided a gambling environment.
The counterfeiting of currency by the federal reserve, the 0% interest rates (price on money), that is set by gov't instead of the market, the gov't rules that create incentives to gamble (ease the requirements for loans, provide government guarantees, FDIC itself) - yes, those are a problem specifically because they are all government related.
The current financial system is borked but there are small firms out there that are investing into businesses. They actually help average people to invest into businesses, to hide from inflation in things like gold/silver/foreign currencies, to get revenue from sharing success of a company by buying dividend paying company stock.
There are firms that do that like this. FINRA exists to prevent firms like this from ever becoming big or even from coming into existence nowadays.
Of-course FINRA is a "private" organization, but the government rules require that investment advisers are members of FINRA and have various irrelevant certifications and pay fees (separate fees for every State by the way) per investor in the firm. Patriot act turns financial firms into spies and at this point an American can't even open an account with a foreign bank, nobody wants to deal with American customers, so bad the government rules are today.
Financial firms do have purpose - the original purpose of a bank is basically to keep the gold in a secure vault. That's as basic as it gets, and there is a storage fee obviously.
Then a bank can (with the agreement of account holder) loan out part of the money to income stream generating businesses. This may get rid of the storage fees and can generate a few percentage points of interest income, which the revenue generating business is supposed to be paying for the loan.
All these government guaranteed loans for consumer items (and for education, medical care), these are all wrong of-course, because they don't generate income, and so they can't actually bear interest. People should be paying for consumables with savings - cash, not with debt. That's how people get into trouble - by financing their consumption with debt rather than production.
Financial industry has a purpose, otherwise it wouldn't even have been created in the free market (as free as markets used to be without gov't interference).
Today the large financial firms are basically the real government, because the government is there to steal power and to sell it and financial dealers made sure that they can have access to free money legally, and that's how the Federal reserve was created, that's how IRS and income taxes were created, that's how all business regulations start, because they don't start to protect anybody but a business that pays the politician.
No, it's the actual wealth generators - those who don't need to work anymore, but they do work anyway, who suffer more from extra taxes, and they will outsource the jobs that you think they owe you (but they don't owe you anything).
They do more than their fair share before they pay a single cent in taxes. They create products people want. They create jobs. They pay salaries that pay taxes. They also create investment opportunities for many other individuals (so if you owned Apple stock in the last decade, you did well). These people shouldn't be taxed at all. Not a cent in income taxes.
That's because they already have so much money, that they can't spend even 1% of it over their lifetimes. Even if they do spend 1-10%, they can stop working at any moment, not work another day, not create another product, not hire another person, not pay another dime in income taxes, not create another investment opportunity and they will be alright.
They will still be alright.
These are actual benefactors of the world, because they don't need to work yet they work, so every day of their work from the moment they made enough money to live on for the rest of their lives is really not for their benefit, but for the benefit of society.
OTOH the people who have privilege, because they have government connections and they hold power and they have special franchises and license and they destroy competition and they get gov't bailouts and stimulus money - they do not care about any extra taxes.
They don't pay any taxes now, why would they pay anything even if tax rates went up? The rich people who actually do pay taxes today - they will be forced to pay more.
Those who don't pay taxes with the current tax code, they won't pay anything anyway.
In reality every cent that goes to gov't from income taxes hurts the economy and people, because it only takes away money from those, who really use it for investment.
You already have this. It's called the Federal reserve and that's what they do. Half of every transaction is money, and they tax that by inflating the supply of money, robbing you of purchasing power, and it's even worse than what you've described, because inflation is a tax on every dollar, even without any transactions happening. Every dollar, every bond, every US stock share....
you are making a huge mistake. You should lever up, get into as much debt as possible, use all of your debt to buy gold/silver/foreign dividend paying stocks, preferably in Asia (you should do all of the above outside of US, have your money stored in banks outside, though you'll have hard time opening a bank account outside of US as an American citizen, that's your government at work.)
You should get rid of all of your US held properties as well (use that to buy more gold, etc.) and then you should skip US altogether.
HFT has nothing to do with lack of taxes. It has everything to do with lack of sound money, I explain in my journal - HFT is just an increase of efficiency in gambling, but the fundamental problem is not lack or presence of efficiency, it's the fact that people are resorting to gambling due to all the free counterfeit currency handed out by the federal reserve and the non-market interest rates on money.
This tax will do nothing but will create more government and more government controls over something that should never be controlled by government but rather by market. At this point it's impossible to get rid of HFT without first fixing the monetary system.
The problem is that EU wants to do the RIGHT thing, America does not want to get burned, and China wants to trash the west at any and all costs.
- this is a bunch of nonsense.
Who are these three individuals: EU, America and China? Who are these three discrete individuals, one wanting the right thing, another doing a CYA move and the third just 'trashing' them all?
This is not just generalizing everything, but it's also wrong on all points.
. For example, when the banks are dishing out loans so that htey can buy their dream home now with no money down, they're pretty much all for the idea. It's a good thing.
- well, not everybody. Most people want it of-course, that's why most people are wrong in most cases on most things and decisions.
That's why most people in most cases will vote for raising taxes on OTHER people for example.
There is always a minority of people who understand the problems much before they happen (see my sig for example of some of those people).
That's why USA is not a direct democracy by the way, so for example women weren't allowed to vote initially, because they had a different role back in those times, they weren't in the same work force. Suffrage needs to be limited. Today that women work same as men, of-course they must be able to vote.
What's interesting by the way, is that only land owners were allowed to vote initially, but that law came from UK, where land was owned by very few people. In USA OTOH at least half of the white men actually owned land, so the idea of keeping votes to a minimum didn't work out the same way.
- it's a strict individual property rights issue and it has to be protected as such, that's what governments are for - protection of liberties, property, borders and maintenance of criminal and contract law.
Slashdot Mirror
The student loans were never going to be paid back by students. The house mortgages were never going to be paid back by buyers. The government debt is never going to be repaid by tax payers. The SS has no assets of any kind and taxes will have to go higher to pay ever less benefits as fewer people work and they are paid less to work, so that ponzi scheme will also never be funded; the government won't stop sending out the checks of-course, but the debt cannot be repaid. Same with Medicare. The banks cannot repay the bail out money, instead the Treasury monetizes the bad debt.
All of these things are brought to you by the "counterfeit often, counterfeit big" monetary policy, and they call Madoff a thief.
I do not want an 'educated/rational populace' in exchange for slavery. I want government out of all economic decisions. We are witnessing right now the global end of the fiat currency and of the socialist state. It's not going to be pretty, as it's going to be replaced with dictatorships (it's already a dictatorship in US and in Europe too, with the dictators meeting in Brussels and in Washington DC.)
The debt ceiling crisis was fake.
It was a fake crisis, if the debt wasn't increased the SS/Medicare payments wouldn't have stopped, but government would have had to cut spending in order to actually start living within its pathetic means.
Debts are not required to be repaid under Constitution, that's a complete misunderstanding of what the word "validity". Just because some debts back in the Civil War were acknowledged to be valid, doesn't make it any more necessary to pay any debts. A valid debt can be valid alright, and it still doesn't have to be paid if there is no money, that's what bankruptcy and restructuring is for.
Tea Party had no effect on government spending at all, the spending increased this year by at least 5%, it didn't decrease a bit.
Constitution does NOT forbid unpaid debts, learn to read.
Obama is being a King by increasing public debt by 1,000,000,000,000 USD without actually asking the people, who are representatives of the tax paying public - do they agree to put this on their books as a liability or not?
You are a hack, and I unfortunately still can't post under my own fucking nick here.
Bush was a war monger too, but this one actually uses his 'executive order' to go even beyond war. What right does he have to do executive order to basically write off .5 to 1 Trillion USD worth of student debt?
He is supposed to go to Congress to approve any new spending, and this is a trillion dollars worth of new spending, because this is the money that is guaranteed by the government to the banks and will have to be 'printed' and returned to the banks, because students won't have to.
In July - August of 2011 they went through a charade of raising the debt ceiling by that much, by 1 Trillion, now he adds that much to the debt with a stroke of a pen.
He just may push his 'jobs' plan that way too. He thinks he is there to act, when Congress is not acting, completely disregarding the fact that he is not supposed to be acting if Congress is not acting, especially on any new spending.
Yes, Bush was a war monger. So was Clinton. Bush before him was too. Every POTUS since WWII basically, because the real national agenda of USA is to bomb and to make the military industrial complex richer every day.
Americans would have flipped?
Americans would get their chance every 4 years anyway, but during the 4 year period (and we are talking about POTUS and his 4 years, but this should apply to all members of government) everything would be open and on the record.
NO, they are not treating people they are supposed to be serving with any dignity.
It's time to return the favor.
He will go into war with Iran. He won't allow Congress to declare anything, he will just go into that war.
He now believes he is a King, no less. He abuses the executive order (he is not using it, he is abusing it for things it is not meant to be used). He is completely corrupted by the power, he is a war monger.
I was speaking metaphorically, but at least I used my own words. You are borrowing yours and they don't even fit the here.
I think people are tired of constantly getting the sausage. They should stop eating it.
No, everything has to be in public. It should be their 'sacrifice' - no privacy while in office.
Was this a glitch or was this done on purpose, by the way?
Also this shows the insanity - Obama says Netanyahu is a liar (as if Obama or Sarcozy are not liars), and all of these liars are up there, dealing the cards of nations.
Do you trust any of these people? If you do - you are insane.
Obama will start a war with Iran. Any other candidate will except for two: Ron Paul (and Gary Johnson probably wouldn't either).
It's tiring that all these liars are on top and making all these decisions for nations and economies, etc. Take the power back from them.
None of what these people do should be secret. They shouldn't be allowed anywhere without a number of cameras and microphones on them always and everything should always be transmitted out to the public.
just go for the jugular.
He is the one most suited to make private decisions about his money.
Other than that he has no more authority than anybody else, well, in a free society of-course.
Vote for the person who understands that you have nothing left to lose if you allow your government to steal your liberties and freedoms for you.
It's in my sig.
Even if they read the bills, who says they will understand them?
Do you know that when lobbyists write bills, they write them in a way that is cryptic on purpose?
Something like this: "repeal the section 17.0 /2 of the 173 under 108 to amend" - figure this out even if it's read out loud.
Yes, I am not a lawyer, my point is that government is evil by design, but people need the evil government to do some amount of evil that needs to be done and people must pay for it. But people need to understand that government is evil by design and that it should be kept to a minimum and it should not be allowed to trample all over people's right and it shouldn't be allowed to grow.
In worst case scenario I would put actual limits on amount of money that government can spend, like say: government cannot spend more than 500 Billion USD / year. That's it - they are given a fixed amount and they have to figure out how to live within that.
But this only makes a difference if gov't cannot borrow and print - that's how they went over the natural barrier of taxes. They can't collect more than 18-20% real income tax no matter what and if they try to raise taxes to pay for the real spending, then people will realize what a monstrosity they have in front of them.
You are correct - all bills must be Constitutional. That's why from now on, government should not even be allowed to increase the size of the federal register. They have 100 years of unconstitutional garbage in there and it needs to be repealed.
Congressmen and Senators should have term limits. So should laws.
More government to fix the problem of too much government?
Makes sense if one accepts the idea that too much debt can be fixed with more debt.
Too many wars can be fixed with a bigger war.
This is how you start, not with more government, with less government.
ALL Financial services are a ruse, because they are predicated on "investing wisely" -- which is always a pitch of "getting back more than you put in." For every wise investment to do better than just the average of stocks, SOMEONE has to lose.
- not true at all. The large firms that are protected and propped up by the government, the large firms that use FINRA to make sure that no small firm can enter the market and become a competitor, yes, those are mostly about gambling nowadays, and that's because government has provided a gambling environment.
The counterfeiting of currency by the federal reserve, the 0% interest rates (price on money), that is set by gov't instead of the market, the gov't rules that create incentives to gamble (ease the requirements for loans, provide government guarantees, FDIC itself) - yes, those are a problem specifically because they are all government related.
The current financial system is borked but there are small firms out there that are investing into businesses. They actually help average people to invest into businesses, to hide from inflation in things like gold/silver/foreign currencies, to get revenue from sharing success of a company by buying dividend paying company stock.
There are firms that do that like this. FINRA exists to prevent firms like this from ever becoming big or even from coming into existence nowadays.
Of-course FINRA is a "private" organization, but the government rules require that investment advisers are members of FINRA and have various irrelevant certifications and pay fees (separate fees for every State by the way) per investor in the firm. Patriot act turns financial firms into spies and at this point an American can't even open an account with a foreign bank, nobody wants to deal with American customers, so bad the government rules are today.
Financial firms do have purpose - the original purpose of a bank is basically to keep the gold in a secure vault. That's as basic as it gets, and there is a storage fee obviously.
Then a bank can (with the agreement of account holder) loan out part of the money to income stream generating businesses. This may get rid of the storage fees and can generate a few percentage points of interest income, which the revenue generating business is supposed to be paying for the loan.
All these government guaranteed loans for consumer items (and for education, medical care), these are all wrong of-course, because they don't generate income, and so they can't actually bear interest. People should be paying for consumables with savings - cash, not with debt. That's how people get into trouble - by financing their consumption with debt rather than production.
Financial industry has a purpose, otherwise it wouldn't even have been created in the free market (as free as markets used to be without gov't interference).
Today the large financial firms are basically the real government, because the government is there to steal power and to sell it and financial dealers made sure that they can have access to free money legally, and that's how the Federal reserve was created, that's how IRS and income taxes were created, that's how all business regulations start, because they don't start to protect anybody but a business that pays the politician.
No, it's the actual wealth generators - those who don't need to work anymore, but they do work anyway, who suffer more from extra taxes, and they will outsource the jobs that you think they owe you (but they don't owe you anything).
They do more than their fair share before they pay a single cent in taxes. They create products people want. They create jobs. They pay salaries that pay taxes. They also create investment opportunities for many other individuals (so if you owned Apple stock in the last decade, you did well). These people shouldn't be taxed at all. Not a cent in income taxes.
That's because they already have so much money, that they can't spend even 1% of it over their lifetimes. Even if they do spend 1-10%, they can stop working at any moment, not work another day, not create another product, not hire another person, not pay another dime in income taxes, not create another investment opportunity and they will be alright.
They will still be alright.
These are actual benefactors of the world, because they don't need to work yet they work, so every day of their work from the moment they made enough money to live on for the rest of their lives is really not for their benefit, but for the benefit of society.
OTOH the people who have privilege, because they have government connections and they hold power and they have special franchises and license and they destroy competition and they get gov't bailouts and stimulus money - they do not care about any extra taxes.
They don't pay any taxes now, why would they pay anything even if tax rates went up? The rich people who actually do pay taxes today - they will be forced to pay more.
Those who don't pay taxes with the current tax code, they won't pay anything anyway.
In reality every cent that goes to gov't from income taxes hurts the economy and people, because it only takes away money from those, who really use it for investment.
You already have this. It's called the Federal reserve and that's what they do. Half of every transaction is money, and they tax that by inflating the supply of money, robbing you of purchasing power, and it's even worse than what you've described, because inflation is a tax on every dollar, even without any transactions happening. Every dollar, every bond, every US stock share....
you are making a huge mistake. You should lever up, get into as much debt as possible, use all of your debt to buy gold/silver/foreign dividend paying stocks, preferably in Asia (you should do all of the above outside of US, have your money stored in banks outside, though you'll have hard time opening a bank account outside of US as an American citizen, that's your government at work.)
You should get rid of all of your US held properties as well (use that to buy more gold, etc.) and then you should skip US altogether.
HFT has nothing to do with lack of taxes. It has everything to do with lack of sound money, I explain in my journal - HFT is just an increase of efficiency in gambling, but the fundamental problem is not lack or presence of efficiency, it's the fact that people are resorting to gambling due to all the free counterfeit currency handed out by the federal reserve and the non-market interest rates on money.
This tax will do nothing but will create more government and more government controls over something that should never be controlled by government but rather by market. At this point it's impossible to get rid of HFT without first fixing the monetary system.
not all land is privately owned.
- therein lies the problem.
Animals using camouflage before humans appeared on this planet?
I don't believe it.
The problem is that EU wants to do the RIGHT thing, America does not want to get burned, and China wants to trash the west at any and all costs.
- this is a bunch of nonsense.
Who are these three individuals: EU, America and China? Who are these three discrete individuals, one wanting the right thing, another doing a CYA move and the third just 'trashing' them all?
This is not just generalizing everything, but it's also wrong on all points.
. For example, when the banks are dishing out loans so that htey can buy their dream home now with no money down, they're pretty much all for the idea. It's a good thing.
- well, not everybody. Most people want it of-course, that's why most people are wrong in most cases on most things and decisions.
That's why most people in most cases will vote for raising taxes on OTHER people for example.
There is always a minority of people who understand the problems much before they happen (see my sig for example of some of those people).
That's why USA is not a direct democracy by the way, so for example women weren't allowed to vote initially, because they had a different role back in those times, they weren't in the same work force. Suffrage needs to be limited. Today that women work same as men, of-course they must be able to vote.
What's interesting by the way, is that only land owners were allowed to vote initially, but that law came from UK, where land was owned by very few people. In USA OTOH at least half of the white men actually owned land, so the idea of keeping votes to a minimum didn't work out the same way.
interstate grazing rights
- it's a strict individual property rights issue and it has to be protected as such, that's what governments are for - protection of liberties, property, borders and maintenance of criminal and contract law.