101–110 of 227 posts
Welp, I am just glad I have no debts or loans myself; paid all my student loans off well over a decade ago. Excited to not have a credit rating whatsoever.
Earlier quoted context omitted.
Financially ledger is just a social construct; the IOUs of the past are never paid off as they never mattered. Finance shit just keeps innumerates and those ignorant of physics believing wild end of the universe theories. For more look up Debt jubilee's; humans wiped the debt of the dead off the books and no black holes opened within the sun, no gods descended from Olympus and slaughtered the children Fucking mesmeri…
US Treasuries happen to be a significant part of many peoples retirement savings. So I think your hot take is pretty uninformed.
What used do seem implausible is now accepted as normal, and tough luck if your income and wealth fell behind / didn’t keep pace.
Earlier quoted context omitted.
Money is special because it’s the only asset that can be used to purchase goods and services. If I have a pile of 10 year Treasury bonds worth $500, and I want to buy a TV, I have to first convince someone with $500 in cash that they’d rather have my bonds than buy their own TV.
No thats not true. It operates under expectations - the more liquid the asset, the more likely you'll be OK with accepting it in the context of a trade. The discount is for illiquidity.
I'd love to see someone buy a TV with those bonds.
Earlier quoted context omitted.
[flagged]
the history has demonstrated these are Republican problems. Democrats are shit for other things, but not for fisical stupidity like cutting taxes and rasing spending.
https://www.investopedia.com/democrats-vs-republicans-who-ha...
> Republican presidents added about $1.4 trillion per four-year term, compared to $1.2 trillion added by Democrats since 1913.
> Democratic presidents have added a total of $18 trillion to the national debt since 1913 (adjusted for inflation), while Republicans have added $17.3 trillion
So everyone downvoting and flagging people saying it's a problem with both parties should be ashamed. Tribalism is stupid.
Welp, I am just glad I have no debts or loans myself; paid all my student loans off well over a decade ago. Excited to not have a credit rating whatsoever.
You still have a credit rating and you should be biased towards being indebted in the current environment. The likely path out is inflation, which decreases the real value of debt.
I fought hard for a long time to keep my street addresses off of the major credit agencies for my personal protection/privacy; I have used mail receivers since roughly 2002 but only really succeeded in about 2008.
Believe me, when COVID hit, I had wanted to go buy or build a small house on a small plot of land. I did weeks of research on homesteading, and grabbed a ton of books on self-sufficiency farming. I put a lot of thought into dealing with the idea of the burden of credit to any bank, in the six years after covid started, before returning to the east coast for work.
Earlier quoted context omitted.
The spending floodgate cannot be turned off or reduced, only directed towards the current admin's pet projects and away from the previous admin's pet projects. This is true for both parties.
You are conveniently ignoring the other half of finance - one party includes plans to actually pay for what they want to spend while the other cuts revenue to make rich people happy. This is not the same, even though it may be tempting to cry “both sides” and throw your hands up.
That was just one proposal with half a trillion.
Earlier quoted context omitted.
The spending floodgate cannot be turned off or reduced, only directed towards the current admin's pet projects and away from the previous admin's pet projects. This is true for both parties.
The spending floodgates have been reduced in the past. Under democratic presidents.
Clinton was also not a Democrat if you compare him to current Democrats. His admin was more right wing than the Trump administration. Clinton's crime bill, serious immigration crackdowns. I mean, Trump did partial criminal justice reform in his first term. That's the complete opposite of the Clinton crime bill, which skyrocketed incarceration.
Clinton's IIRAIRA bill laid out the blueprint currently being utilized for rapid deportations. In fact, 'expedited removal' is a core feature of the bill. Also, he architected the concept of administrative warrants currently being used by ICE for deportations.