$1 Million a minute

EdBEdB Senior MemberPosts: 2,926 Senior Member
The money system cannot last much longer at this rate.

http://www.informationclearinghouse.info/48808.htm

Borrowing money at $1 million a minute is digging a hole out of which we will never peacefully climb. President Obama’s and President Trump’s own military and intelligence chiefs have argued that the national debt — not the Russians or the Islamic State group or the North Koreans — is the greatest threat to freedom and security that we face today.

Replies

  • BushartBushart Senior Member Posts: 2,602 Senior Member
    C'mon Ed

    You should be celebrating that huge tax cut---don't let a little deficit spending scare ya

    By the way----1% r's send their best
  • NZ IndicatorNZ Indicator Senior Member Posts: 9,988 Senior Member
    Uncle Lewis!!!!!
  • EdBEdB Senior Member Posts: 2,926 Senior Member
    Huh.......?
  • sherbsherb Senior Member Posts: 3,709 Senior Member
    EdB wrote: »
    The money system cannot last much longer at this rate.

    http://www.informationclearinghouse.info/48808.htm

    Borrowing money at $1 million a minute is digging a hole out of which we will never peacefully climb. President Obama’s and President Trump’s own military and intelligence chiefs have argued that the national debt — not the Russians or the Islamic State group or the North Koreans — is the greatest threat to freedom and security that we face today.

    I guess it all depends on who you're borrowing it from. Debt isn't necessarily bad.
  • EdBEdB Senior Member Posts: 2,926 Senior Member
    China is the biggest foreign creditor,

    http://money.cnn.com/2018/01/11/investing/china-us-treasury-purchases/index.html

    Investors are getting worried about what America's biggest foreign creditor might do next.

    A report that China is reconsidering how much U.S. debt it buys rattled markets on Wednesday and raised questions about the relationship between the world's two largest economies.
  • creekguycreekguy Senior Member Posts: 3,905 Senior Member
    BTW Ed, what about Bitcoins and the other Blockchained exchange mediums? Could Enercreds, (computer-based energy credits) be the medium for conversion to your proposed economy?
  • EdBEdB Senior Member Posts: 2,926 Senior Member
    creekguy wrote: »
    BTW Ed, what about Bitcoins and the other Blockchained exchange mediums? Could Enercreds, (computer-based energy credits) be the medium for conversion to your proposed economy?

    We call that a distribution certificate where a card records how much energy is consumed for each use of a good or service.
  • NZ IndicatorNZ Indicator Senior Member Posts: 9,988 Senior Member
    Who is "we" ?

    Sent from my SM-G900V using Tapatalk
  • EdBEdB Senior Member Posts: 2,926 Senior Member
    Technocracy Inc, at www.technocracyinc.org.
  • Shawn C.Shawn C. Senior Member Posts: 6,735 Senior Member
    Sounds suspiciously like money, Ed.
  • NZ IndicatorNZ Indicator Senior Member Posts: 9,988 Senior Member
    EdB wrote: »
    Technocracy Inc, at www.technocracyinc.org.

    Looks like failure to me.
  • sherbsherb Senior Member Posts: 3,709 Senior Member
    EdB wrote: »
    China is the biggest foreign creditor,

    http://money.cnn.com/2018/01/11/investing/china-us-treasury-purchases/index.html

    Investors are getting worried about what America's biggest foreign creditor might do next.

    A report that China is reconsidering how much U.S. debt it buys rattled markets on Wednesday and raised questions about the relationship between the world's two largest economies.

    Did you actually read that article? If not, you should. Makes my point.
  • EdBEdB Senior Member Posts: 2,926 Senior Member
    Yes, I read the article, I don't see how it makes your point. 20 trillion dollars of debt costing us 40% of income for interest on that debt is not a sustainable situation.
  • StevenSteven Senior Member Posts: 3,317 Senior Member
    The second half of that article seems to suggest your fears are worthless, Ed.

    If China doesn't want our debt, they could not sell crap to us. Oh wait...Chinese people need to eat too.

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