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The debt problem is enormous, and the system for fixing it is broken

nytimes.com

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Re: The debt problem is enormous, and the system for fixing it is broken

#51

Post by tenpies »

wizerdrobe wrote: post #3
AndrewKemendo wrote: post #2

“In all honesty, it was the Debt Crisis that ended the Roman Republic. There was a Sovereign Debt Crisis during the Roman Republic period resulted in a dictatorship and a debt default. … Therefore, we find that the debt crisis was correlated with a separatist movement – which we are beginning to see worldwide starting in Europe, but will eventually become a contagion in the United States as the conflict between left…

Why would you consider January 6 protests to be the turning point specifically? It was neither particularly violent nor a first regarding violation of norms. There was no attempt at rallying armed forces in a coup d’etat. Could just as well consider something like the Tea Party circa 2010 a turning point in separatism. For the modern era, at least.

I think people also forget that before January 6th we literally had:

* Separatist movements from Antifa and the Left set up autonomous zones within US cities[1].

* Multiple calls for violence from prominent Democrats and other Leftists towards Republican politicians, judges, and a sitting US President [2]

* Billions of damage and looting by Antifa and BLM [3]

* Multiple Antifa and BLM attacks on Federal buildings, including courthouses [4]

I could go on for quite a while, but my point is that any of these events alone is comparable to January 6th. It would have been unimaginable to a 2000s American that any of these things not only take place, but were allowed and even encouraged by a major US political party.

All of these were more violent, damaging, and should carry much stronger legal consequences for the separatists, terrorists, and perpetrators; but because the Democrat-backed groups did it, it is barely even remembered.

---

[1] https://en.wikipedia.org/wiki/Capitol_Hill_Occupied_Protest

[2] https://www.youtube.com/watch?v=XG5BcU1ZGiA

[3] https://www.axios.com/2020/09/16/riots-cost-property-damage - this is just for the May to June of 2020 time period.

[4] https://www.justice.gov/usao-nv/pr/five-individuals-face-fed... and https://www.opb.org/article/2021/03/12/protesters-vandalize-... but there are more.

Re: The debt problem is enormous, and the system for fixing it is broken

#52

Post by Eridrus »

credit_guy wrote: post #46
Eridrus wrote: post #44

Earlier quoted context omitted.

Internationally binding arbitration does exist and is written into trade agreements regularly, e.g. ISDS. As long as the disputes are small enough to not call into question the entire trade agreement/framework, you can have a backstop that makes this enforceable. The countries that are signatories agree to comply with the decisions so that they remain in good standing wrt the trade agreements.

Ok, fair enough. But here we are talking about sovereign defaults. They are not small.

They are still relatively small on the scale of all international trade. This article talks about a $44bn debt.

And a bankruptcy court does not have to write off debts entirely; it could force new interest rate agreements, fractional haircuts, etc.

I think the bigger question is really if people want such a system or not: would the EU be willing to put tariffs on Chinese goods because they were refusing to restructure Argentinian debt? Would China ever sign on to such an agreement?

I do not think they would, but the issue is not that such a system is impossible, it is that people have to want it and be willing to stake something larger as collateral (i.e. trade) in the first place.

Re: The debt problem is enormous, and the system for fixing it is broken

#54

Post by hydrok9 »

katbyte wrote: post #48
whythre wrote: post #14

Earlier quoted context omitted.

I am an American and I don’t think it was particularly violet. There were 4 deaths. Not 400 or 40 (not like I wanted there to be more). But pearl clutching over some people protesting where they shouldn’t have when Congress wasn’t in session is just silly.

violent != deadly? seemed pretty violent at times, but it wasn't deadly

as far as coups go, this one was pretty tame

Re: The debt problem is enormous, and the system for fixing it is broken

#55

Post by friend_and_foe »

asfdgionio wrote: post #9
wizerdrobe wrote: post #3

Earlier quoted context omitted.

Why would you consider January 6 protests to be the turning point specifically? It was neither particularly violent nor a first regarding violation of norms. There was no attempt at rallying armed forces in a coup d’etat. Could just as well consider something like the Tea Party circa 2010 a turning point in separatism. For the modern era, at least.

>There was no attempt at rallying armed forces in a coup d’etat. What are you talking about? There most certainly was, and a successful one at that. The mob had firearms and pipe bombs and a wide variety of melee weapons. They smashed their way into the building. Rioters intended to hold lawmakers captive and planned to execute the vice president. Several people died. The sitting president led a mob to levy war again…

> several people died.

I was honestly at first reading what you said thinking "oh really, I didn't know that. I need to look into this, sounds like it was way worse than portrayed" until you said that. Somebody having a stroke is not the same thing as someone being beaten to death or shot. Even saying "several people died" demonstrates a disingenuous disposition, you have to deliberately avoid going into detail to make your point. The only person that died as a result of the actions there was a woman named Ashley Babbit who was shot by US capitol police.

Given that, I ask you, with all these firearms and pipe bombs and a real attempt at insurrection, how come nobody fired or detonated them?

Re: The debt problem is enormous, and the system for fixing it is broken

#56

Post by CamperBob2 »

wizerdrobe wrote: post #3
AndrewKemendo wrote: post #2

“In all honesty, it was the Debt Crisis that ended the Roman Republic. There was a Sovereign Debt Crisis during the Roman Republic period resulted in a dictatorship and a debt default. … Therefore, we find that the debt crisis was correlated with a separatist movement – which we are beginning to see worldwide starting in Europe, but will eventually become a contagion in the United States as the conflict between left…

Why would you consider January 6 protests to be the turning point specifically? It was neither particularly violent nor a first regarding violation of norms. There was no attempt at rallying armed forces in a coup d’etat. Could just as well consider something like the Tea Party circa 2010 a turning point in separatism. For the modern era, at least.

It's the closest thing we've seen to the Beer Hall Putsch, an event that was also so ineptly-orchestrated as to appear comical to many, that had no immediate effect on most peoples' daily lives, and that also led to grossly inadequate punishment for the perpetrators.

Re: The debt problem is enormous, and the system for fixing it is broken

#57

Post by CamperBob2 »

tenpies wrote: post #51
wizerdrobe wrote: post #3

Earlier quoted context omitted.

Why would you consider January 6 protests to be the turning point specifically? It was neither particularly violent nor a first regarding violation of norms. There was no attempt at rallying armed forces in a coup d’etat. Could just as well consider something like the Tea Party circa 2010 a turning point in separatism. For the modern era, at least.

I think people also forget that before January 6th we literally had: * Separatist movements from Antifa and the Left set up autonomous zones within US cities[1]. * Multiple calls for violence from prominent Democrats and other Leftists towards Republican politicians, judges, and a sitting US President [2] * Billions of damage and looting by Antifa and BLM [3] * Multiple Antifa and BLM attacks on Federal buildings, in…

It's one thing when some local agitators stir up shit and torch a Starbucks or whatever.

It's another thing entirely when the President does it.

(Which I'm sure you'd be braying from the hilltops, had the President in question been named Clinton or Biden or Obama.)

Re: The debt problem is enormous, and the system for fixing it is broken

#58

Post by friend_and_foe »

asfdgionio wrote: post #30
eastbound wrote: post #12

Earlier quoted context omitted.

> several people died Care to list which side the people were killed? And were they armed?

One Union boy died, unfortunately, but we gave better than we got! The people who were shot were killed to defend the capitol and were given ample warning. Ashley Babbitt, for instance, was trying to break down a door.

How did he die?

There was only one person shot.

Re: The debt problem is enormous, and the system for fixing it is broken

#59

Post by friend_and_foe »

asfdgionio wrote: post #29
vGPU wrote: post #19

Earlier quoted context omitted.

And yet the BLM “peaceful protests” that burned and looted parts of well over a dozen major cities is considered perfectly acceptable. Both of them were ultimately political protests and yet everyone seems to have forgotten about the actually violent one.

[flagged]

OK, now we see just how rational your justification for your position is. Terrorists? It's like when MAGA people call Democrats child molester demon worshippers. Are you even interested in genuine discourse at all?

Re: The debt problem is enormous, and the system for fixing it is broken

#60

Post by jongjong »

throwitaway222 wrote: post #41
jongjong wrote: post #40

I've been saying this for 5 years straight. I explained in great detail what was wrong and how to fix it but was suppressed on social media. Now that it has become obvious that I was right all along, I'm still suppressed and those who created the problem and suppressed me have the largest following they've ever had as they lead us all deeper and deeper into the catastrophe.

what is the solution?

Some of the solutions I suggested were;

Abolish reserve banking or make interest rates so high as to make it redundant.

Make national currencies be backed by gold or crypto to constrain supply. If that approach is not feasible, then I'd advocate for UBI to even out the playing field and opportunities until we are in an economic position to transition to a hard money system.

Increase penalties and liability of corporate directors who break the law.

Make it harder for corporations to operate. Roll back corporate personhood.

Implement a more granular way to allocate liability in our legal system with a focus on partial liability.

Reduce income taxes.

Regulate social media algorithms to prevent discrimination when it comes to reach (both positive and negative discrimination).

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