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National Debt Update

JD Mark said:
:lmao::lmao::lmao::lmao::lmao:
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What's funny about that?
bailing out banks is comically easy
it isn't even paper that needs ink splashed onto it, it's all ones and zeros
for a more physical example remember them checks that you and everyone else was fixated on having trump's name on them rather than that they were being mailed out at all?

and since fiat's utility is based entirely on faith in the fiat, to not bail out the bank would be suicidal in a way that just doesn't come up in those circles
 
clodhopper said:
That is the concept, but functionally the FDIC is only capable of covering individual bank collapses and runs. If the whole banking system faced a run, the FDIC doesnt have the resources to back it all. Proof was the the Silicon Valley Bank rapidly followed by New York Community Bank and the FDIC said at that time they were tapped and couldnt handle another bank.

You could suggest that the govt could just print all they need and distribute that through the FDIC, but doing so would completely nuke our financial systems, and likely nuke those of every country in the world along with.
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C'mon man...the thing.

Haven't you ever heard of "too big to fail"? :lmao::lmao::lmao::lmao::lmao:

Long, long when I was young and dumb (now I'm just old and dumb) I asked my financial guy about putting cash in a money market that wasn't FDIC insured.

He said what you did...if the FDIC needs to back all the banks, the cash in my money market was the least of my worries. Basically...if that happens, no one is getting their money whether it's FDIC backed or not.
 
[486] said:
What's funny about that?
bailing out banks is comically easy
it isn't even paper that needs ink splashed onto it, it's all ones and zeros
for a more physical example remember them checks that you and everyone else was fixated on having trump's name on them rather than that they were being mailed out at all?

and since fiat's utility is based entirely on faith in the fiat, to not bail out the bank would be suicidal in a way that just doesn't come up in those circles
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Just what you said...it's all a joke.

Not laughing at you, laughing with you.
 
i swear i am thinking real serious about getting a big mortgage to fight against the falling dollar. i know i should just invest the money but i have my retirement set because of my real estate investments.
 
gunracer1 said:
i swear i am thinking real serious about getting a big mortgage to fight against the falling dollar. i know i should just invest the money but i have my retirement set because of my real estate investments.
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it's kinda telling/disgusting how it's been cheaper to borrow "money" than it is to hold onto "money"

just can't wrap my head around it
great display of the power of regulation, nonsensical decrees backed by threats of violence...
or look at it as punishment for having long time preference
or look at it as yet another facet of making everyone either a criminal or indebted to the rulers some way
or... shit just is unnatural and upsetting and I don't like it
 
It's political suicide to make the massive cuts required, it's going to take a non-politician outsider who isn't afraid to tell people to get fucked. Musk seems like that type.
 
It will take some time for the populace to realize we don't need the vast majority of the Federal government. Especially once the individual States start covering shit they should have been all along.

What's going to be a huge shock that no one really talks about is how many worthless Federal employees are going to be unemployed and likely unemployable. A large unintended function of the Federal workforce is that it essentially operates as a welfare program for employment for people who aren't fit to work at a fucking McDonalds. Some might land state or county jobs, but the private sector isn't going to want to hire life time Federal employees.
 
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gunracer1 said:
i swear i am thinking real serious about getting a big mortgage to fight against the falling dollar. i know i should just invest the money but i have my retirement set because of my real estate investments.
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We had the golden opportunity :shaking:
 
Motorcharge said:
It will take some time for the populace to realize we don't need the vast majority of the Federal government. Especially once the individual States start covering shit they should have been all along.

What's going to be a huge shock that no one really talks about is how many worthless Federal employees are going to be unemployed and likely unemployable. A large unintended function of the Federal workforce is that it essentially operates as a welfare program for employment for people who aren't fit to work at a fucking McDonalds. Some might land state or county jobs, but the private sector isn't going to want to hire life time Federal employees.
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as a .gov contractor, I can tell you this is 100% true.

on many different levels...
 
Texas97 said:
Musk says he can save 2 Trillion if he gets in and starts slashing the government.


That would be a breath of fresh air.
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I saw that this AM also. My X/Twatter link foo sucks but he said it at the Trump rally at Madison Square Garden, or in the the language of the retards here MSG. Mono sodium glutamate. He was asked about Kam/Biden's 7.5 trill budget and how much he could ripout ? He answered 2 trill.
 
Splib said:
I saw that this AM also. My X/Twatter link foo sucks but he said it at the Trump rally at Madison Square Garden, or in the the language of the retards here MSG. Mono sodium glutamate. He was asked about Kam/Biden's 7.5 trill budget and how much he could ripout ? He answered 2 trill.
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i never heard that Biden ever had a budget? maybe i never heard because its been like 18 years since congress has approved a budget?
 
I'm just saying not a single president is TRYING to lower the deficit or in a alternative universe actually try to repay it.

There is no gold standard and there is nothing physically connected to the $, it is just 1s and 0s.

They can mint a trillion dollar coin and our budget problems are over.
 
CarterKraft said:
They can mint a trillion dollar coin and our budget problems are over.
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but that would tank the value of the dollar, since fiat is only based in "hopes and prayers"

just the same as declaring a debt jubilee, if those IOUs are suddenly made "good" with nothing backing the declaration that they're paid, that's exactly the same as inflation
 
[486] said:
but that would tank the value of the dollar, since fiat is only based in "hopes and prayers"

just the same as declaring a debt jubilee, if those IOUs are suddenly made "good" with nothing backing the declaration that they're paid, that's exactly the same as inflation
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yabut can you even imagine the sales extravaganza in the jet ski, RV, SxS, whatnot markets from all the people who suddenly didnt have debt?:laughing:
 
gunracer1 said:
i swear i am thinking real serious about getting a big mortgage to fight against the falling dollar. i know i should just invest the money but i have my retirement set because of my real estate investments.
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Is that the trick I’m missing? I hate debt, hate the idea of debt. But I can go get a big fat place with a pile of debt and a few signatures
 
JR4X said:
Is that the trick I’m missing? I hate debt, hate the idea of debt. But I can go get a big fat place with a pile of debt and a few signatures
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You have to have a bigger pile of shit and more better signatures than the others trying to acquire the same property. :flipoff2:
 
Splib said:
You have to have a bigger pile of shit and more better signatures than the others trying to acquire the same property. :flipoff2:
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Not sure what blue shithole you’re scraping up a living in but I’ve got access to what I need. I’ve got lenders throwing offers at me because I looked at houses pre-approved for 6 months and said “Thanks but no thanks, pass”. Im not in a bidding war situation here, $300K houses are sitting for months and doing price drops.

I just don’t like what’s for sale enough to sign a 30 year note at 6% interest. That’s my most recent offer, 6% 30 year fixed. I’ve got a big enough pile of shit, I just don’t want to play in it.
 
Around here I could have swapped my house for a $500+k house on a sub 3% note and flipped mine for $350k basically same payment for 15 more years ...

But I was under 5 years from being paid off and that sounded way more attractive than fancy house for relatively cheap.

Now the wife wants to move/build a more rural "right sized" house so do I rent this place out at $2500/month and build a new one on a construction loan or just struggle bus and try to pay cash and finish it in 5 years :confused:
 
CarterKraft said:
Around here I could have swapped my house for a $500+k house on a sub 3% note and flipped mine for $350k basically same payment for 15 more years ...

But I was under 5 years from being paid off and that sounded way more attractive than fancy house for relatively cheap.

Now the wife wants to move/build a more rural "right sized" house so do I rent this place out at $2500/month and build a new one on a construction loan or just struggle bus and try to pay cash and finish it in 5 years :confused:
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id buckle down and see what happens if and when we actually hit bottom on the economy. you can easily get caught in a very bad situation.

i was ready to move to a hundred acres and a "downgrade" in actual house but decided id stay put. there was no need to stress our position. my house and land is currently worth more than double what we paid, have triple the equity than what i owe on it, and ive got that sweet 3% mortgage too.

i talked myself down by saying i was just being greedy and i should be content with what i have. i am glad i did that.
 
JR4X said:
Not sure what blue shithole you’re scraping up a living in
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:lmao::lmao::lmao: You are in New Mexico ?

Seriously, glad you have a chance to afford and acquire what you need or want in a rational way. :beer:
 
Splib said:
:lmao::lmao::lmao: You are in New Mexico ?

Seriously, glad you have a chance to afford and acquire what you need or want in a rational way. :beer:
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Yep the shit holiest of blue states. Always live in a red county though. Nobody is rushing to live here is the point. Not a lot of competition trying to come to this corner of the world.
 
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