Why is it not considered to be good personal financial planning to not attempt to eliminate your debt, but it's considered to be good financial planning to do that on a federal level? All i've heard as an argument of why we shouldn't bother to eliminate the debt is that we can currently afford to not reduce our national debt.
Why is it not considered to be good personal financial planning to not attempt to eliminate your debt...
Because the economic experts are the same (((people))) who benefit from indebted nations
The government debt has never made sense.
Why the fuck can't the government print money by themselves, but need to borrow from banks, who print money by themselves?
We all know the answer
The really short answer to your question is that if money isn’t “backed” by anything (gold, treasury bonds, etc.) then it is basically worthless on the international markets (unless you are China!) and you are unable to use it to buy and import foreign goods. China gets around all this by buying USA treasury bonds (the world let’s China print their own money and set the value in exchange for buying up debt)
China prints US dollars too.
What a fucking hilarious clown world this is.
Maybe because the only penalty for not paying our national debt (or perhaps even wiping it out by eliminating the Federal Reserve Bank a la Andrew Jackson) is inflation.
The U.S. Government protects mortgage lenders, student lenders, credit card companies etc. but if interest becomes to onerous, they will simply eliminate the central bank and form a new one later.
The best thing right now, assuming you can't get rid of the central bank, would be keeping inflation down, since inflation hurts average people whose money is not invested in equities the most.
That is because what is happening is called wealth extraction by the money lenders (kikes) and central banks (kikes), but not only them… also other countries are now taking advantage of this (as they should) to benefit themselves at our expense. It's just unfortunate that our leaders don't actually give a fuck about protecting us from it. Trump's "hey lets make great deals" was an attempt to speak to stopping this, and reaffirming our financial solidarity in the world but it was short-lived since immediately after the election our economy went from "fake" to "the greatest" without any of the underlying fundamentals changing at all. Meanwhile politicians don't really present "an argument" ever, someone just writes up an omnibus bill and ram it through after playing political hot potato over who "caused the shutdown" right? There is no debate or discussion about it, just a brief sideshow… a fabricated crisis… and then everyone gets to breathe a collective sigh of relief that he printing presses haven't stopped. Even the Keynesian economists so take for granted the global hegemony of the dollar they refuse to even consider it conceivable that our standard of living could ever be put at risk because of a crisis of currency. The economics redpill here is that it isn't just a bad-faith understanding of economics, but an intentional misdirection so that the country can continue on being looted until it is smashed economically into a third world hell hole.
After WWII the United States held the vast majority of the worlds gold (the longest standing traditional money in history) and because of this our wealth measured in gold was enormous compared to other countries so much so that other countries had no real means of establishing their own standard of value to back their currencies aside from linking their currencies to gold. This created a hierarchy where dollar destruction or devaluation became unfathomable, so national debts began to accumulate progressively faster and faster because where normally when a country devalues its currency other countries react by charging them more for exports as exchange rates seek equilibrium. Because of the immense wealth that the post WWII dollar represented, these checks and balances were removed.
We are now in a position where this has been the status quo for 50+ years and it is the only reality people know, and so it will remain true until its "magically and inexplicably" (or at least they will portray it this way) not true anymore. Currently there is an economic chess match between east and west in which China/Russia is positioning themselves to be an economic power that surpasses the United States.
It's sleight of hand. They are printing money and causing inflation but they have plausible story to tell about "borrowing" money from a private bank. Who prints the money out of thin air. Your money loses value, government programs continue to gib gibs to everyone with their hand out, and we all pretend we aren't a banana republic.
It makes perfect sense if you actually understand how fiat money works.
Treasury: y0 Fed, we need money, can you create it?
Fed: no prob, we'll create a $1 and give it to you, but you have to pay interest on it.
Treasury: how the fuck can we pay interest on $1 if only $1 exists?
Fed: Oh right, ok, we'll create $2 and you can use the extra dollar to pay interest on the first $1.
Treasury: Yea but how are we going to pay interest on the $2 if only $2 exists?
Fed: Oh right, ok, we'll create $3…
In summation, interest owed will always exceed the amount of money in existence. Does that make sense to anyone? Because literally how fucked up our system is.
I mean, the alternative to this is to RAISE YOUR TAXES to pay for the dumb shit like $38b to Isreal and all of the welfare state programs. That shit won't fly. Or just openly print money and devalue your savings, right out in the open. That pisses people off to. So it's time to "borrow" some money and super-pinky-promise to pay it back (through higher taxes) some day.. far from now, I'm sure. But anyway, keep on slaving away, wage slave. We need those tax dollars. And you're not having children so we need to import these fine workers over here to pick up the slack for the welfare state pyramid scheme.
We've been effectively exporting our inflation since 2008, using freshly printed dollars to buy imports… which only floods other countries with dollars. Velocity of money (one measurement of inflation) hasn't started to ramp up yet… but if you want to look up "de-dollarization" you'll see that other countries with large economies are beginning to NOT prefer dealing on the global market in dollars and countries are accommodating them.
The main example of this is oil. For the longest time the "petro-dollar" required other countries to convert their currencies into dollars before they could buy oil from the Saudi's or other middle eastern countries. That requirement is no longer in place, mainly because China's currency has been accepted into the IMF's global "basket of currencies" which places it on par with the dollar. So where previously everyone was trying to maintain the value of their currency relatively stable with the dollar to keep their energy costs in check, since 2008 as the United States printed money endlessly in QE1, 2, and 3… so other countries "debased" their currencies to keep up the stability, because massive disruptions to energy prices cascade through an economy and impact all prices because everything requires energy.
As China dumps the dollar, you'll see interest rates in the United States begin to rise as an attempt to "soak up" all of the excess dollars flooding back into the country. They've been slowly rising since Trump took office, primarily because the Kike Federal Reserve wanted to let King Nigger finish his welfare presidency before making the economy look like shit. Obama had 8 straight years of zero, or near zero interest rates, so the kike fed was basically pedal to the metal as hard as they could to make his economy not look like shit although it was. Raising interest rates effectively raises prices across the board on goods/services, and thus "slows" the economy, and the inverse is true for when interest rates are lowered. So there is a dynamic at play, explaining why Trump is always calling for a "slow down" in raising interest rates. The kikes are fine blaming a shit economy on Trump, but he understands very well that he has little control on actual economic growth.
We've been exporting inflation since 1971 when the international gold standard was abandoned. Remember, the dollar became the world reserve currency after WWII, but when gold was severed international it was finally unchained.
Which is exactly why we should want it. If you give a generation of shitty people (boomers) the option of saddling future generations with unpayable debt so that they can retire in comfort without the "stress" of having to pay for the shit they're consuming, and their unreasonable lifespans being kept going and going because of medical insurance programs etc… all of a sudden the pressure on current generations eases up.
This is one of the main reasons birth rates among middle class whites are so low, because boomers are squeezing them as hard as they fucking can to live a few more years and this directly causes middle class whites to have fewer children. Why? They grew up in this country and have a perspective on what it means to have a decent childhood. They look around and see the economic environment and make a very simple determination… "Can I give my child a better life if I have a child now?" The answer is often, "No" and so child birth is postponed while everyone scrambles to figure out ways to increase their standard of living. For a long time the "you must go to college" meme dominated and people went from having children at 18, to not having kids until they're 22/24… and now it's even farther out. Having fewer children, and having them later slows down the cycles of generations… which even if every white woman were to have 3 children we would still be at an overall deficit because she's not having those children until her late 20s instead of 18/19. Adding 10 more years here is effectively "stunting" the appearance of the next generation across time.
oh and on that chart, we never had a budget surplus under Clinton either.
Wow, are you from 2008?
I've heard that argument before, esp. during QE1 when a lot of people though the Euro would become the reserve currency (this was mentioned in the movie Quantum of Solace) but it didn't happen. Instead, the U.S. Dollar increased in value to parity with the Euro, something that hasn't been attained since the Euro was put into circulation for the first time in 2000.
As for the so-called petrodollar, the U.S, is going to continue to dominate the oil markets for 40 years to come. Recent discoveries in the Permian basin and Venezuela can sustain the West for four decades, and Russia and China will languish and burn.
Like it or not, we run this.
Both correct, but in terms of scale when you have a president (king nigger) that accumulates as much national debt in 8 years (10+ trillion) than existed across the entire previous history of the country dating back to the founding of the republic you enter into a different realm entirely. Using debt to finance consumption is different than using debt to finance capital accumulation and wealth generation. You can see this by just looking at standard of living. 1971-2008 you can very clearly see a sharp increase in the general standard of living for all Americans, even the poorest. 2008-Present, aside from little fiddling with the tax code the standard of living for people here has been completely stagnant or even declined.
To get back to OP's point, you cannot print prosperity and there has never been an argument or an example of reality that would justify it. If 20 trillion in debt isn't bad, and no amount of debt is bad, and all it will ever do is allow us an ever higher and higher standard of living then why should we EVER STOP increasing the rate of debt? It would be a currency crisis over night beyond anything from Zimbabwe or Weimar. This currency crisis is coming, and it's essentially a requirement to be an "expert" to stick your head in the same and not point this out because the only thing keeping the system running is faith… or "confidence" that isn't just a big pile of shit. The current disillusionment in the aforementioned stagnant standard of living is making more and more people aware that this confidence is ill-founded and their faith in the permanent hegemony of the u.s. dollar has been misplaced.
You'll notice the uptick in the trends of post-apocalyptic movies and video games over the last decade or so. This is not an accident, but a method of psychologically preparing people for future hardships caused by this dollar crisis.
I totally agree that boomers are a spoiled, entitled class and stains on our country. After all, they gave us 2nd wave feminism that drove the male suicide rate up to 5x the female rate. They gave us a social security trust fund that was wiped out decades ago and can only be kept going by giving amnesty to illegals, thus the Republican/Democrat conspiracy to continue to allow them in. Donald Trump was selected to merely appease the whites and keep them from getting violent for 8 years. He will be re-elected by a larger margin than in 2016, and he will continue to do nothing to stop illegal immigration.
The function is exponential, so the national debt increase reflects it. It didn't matter who was president, it will continue exponentially increasing until it fails.
Nobody who knew anything ever thought this. The global economy "reserve currency" (SDR) of the IMF has been composed of a basket of currencies since 1974. The "weight" or allocation of those currencies in the basket is always changing. The only thing you need to comprehend here is that the "weight" of the dollar in this basket has tremendously decreased since that time, and with it… our economic strength.
I've explained this already, this was not a symptom of the dollar's strength but of the global effort to debase currencies to keep up with the United States quantitative easing program. Mario Draghi picked up where the United States left off, in coordinated central bank efforts to never stop easing. Why shouldn't you expect this? Kike central bankers coordinate because "our economy is global now goyim" so anyone that deviates from the mean is frowned upon., i.e., wars in Libya because of a gold backed dinar, or Trumps kvetching about "china is manipulating their currency!"
Energy independence has come a long way, but not just for the United States. In case you haven't noticed Venezuela is burning, and it takes decades to get infrastructure built back up before this is even a thought. Why do you think Trump is still sucking Saudi cock? It's because they're just fine selling to whoever the highest bidder is, and if there is a disruption in the exchange rate between China/Russia and the Dollar in which the dollar significantly loses value (in such a scenario as the Yuan becomes full Gold backed) then the cost of that Saudi oil would go through the roof, and our standard of living would plummet (this will happen).
Nah, of course it didn't have anything to do with Arab Spring! Odyssey Dawn was a brilliant gambit to troll the Egyptians into deposing their own anti-American Mubarak-replacement. They figured, if they CIA was involved in Libya, maybe their own recent revolution was tainted… They took the bait. Shortly thereafter, Bin Laden was captured, renditioned to the nearest black site, and his body dissolved in acid two weeks after his alleged killing.
You don't understand how it works. FIAT currently is literally debt. You cannot have 0 debt as long as the federal reserve stands.
Shitty metaphor coming at you: Jew has a plot of land. He sells this plot to Farmer Brown in exchange for 10 cows. Jew knows that Farmer Brown does not actually intend to use the land until spring when lumber can be transported over the mountain and he can build a house. Therefore, Jew kindly offers to hold onto the land and continue tending it until Farmer Brown is ready to build his house, and instead gives him an IOU that he can present to the Jew at any time to receive his land. "Thank you Jew. You are truly my greatest ally".
Jew then goes to Farmer John and offers to sell his land to him in exchange for 50 chickens.
"Didn't you just sell your land to Farmer Brown?"
"No goy that is silly. If this land is his, then why are my cows grazing on it?"
"That makes sense. Alright, I will buy your land for my chickens."
"Here, take this IOU instead. Give it to me later to exchange it for your land. You can trust me."
"Ok I believe you."
Jew then does the same thing to Farmer Ted and Farmer Mike. Now four people have IOUs for the same plot of land.
Farmer Brown decides he doesn't actually want the land, he'd rather sell the land for a boat. He gives the IOU to a sailor after explaining that it can be given to the Jew in exchange for land. Farmer John trades his IOU for a tractor. Farmer Mike trades his IOU back to the Jew in exchange for his 10 cows hand rubbing intensifies
Everyone is now trading these IOUs around because they represent value (the land), and they are much more convenient than carrying a bunch of cows or chickens around everywhere. We know however that they their value is imaginary, not real. As soon as one person actually turns in the IOU and claims the land for themselves, everyone else will realize that they'd been scammed, they don't actually own what they thought they did, and the value of the IOUs plummet to nothing.
Here we can see that IOUs represent dollars. They are debt. They are not value in on of themselves, but represent value, but the value they represent is mostly fake. In this example there are 4 IOUs and only 1 real plot of land, but banks are actually allowed to create 400 dollars in debt for every 1 unit of value that they claim. You cannot "eliminate the debt" because the fake value is far in excess of any real value that they represent. It is also important to see that the people creating and handing out these IOUs/dollars do not create any value themselves; they simply create debt, pretend the debt is value to trade it off, and keep real value to themselves. The last important point to note is that all of this is actually far more complicated than my shitty metaphor, but this is on purpose. They designers and planners of this system obfuscate their crimes from the public by making everything needlessly complicated. The more complex it is, the less regular people understand, and the less likely they are to realize how much is being plundered from their nation. You understand the heart of the matter now. You don't need to be a weatherman to know which way the wind blows, and you don't need to be an economist to know we're being looted.
In conclusion, you cannot eliminate the federal deficit without eliminating FIAT currency. It is not even possible to reduce it, really. It just keeps growing because that is how this monetary system works. This was actually my first redpill, and now I give it to you. Next time you're watching TV and you hear someone mention reducing the debt, listen and see if they also talk about eliminating the federal reserve or FIAT money. If they don't, then they are lying to you, (and probably lie to you all the time) or they are and idiot (and are probably an idiot all the time).
In 2015 I could see the underlying unrest among whites because of four years of king nigger, and continued endless war, the financial crisis, and I knew that it would be a "show of force" for whites in the election. I knew he would win. I don't see that now, and I don't feel it. I feel the demoralization and the disappointment that he has been on immigration and the wall. What I think I'm feeling if I had to describe "the pulse" of normalfag white political sentiment is the growing realization that, "there is no political solution." That in combination with the continued demographic shifts over these last four years I don't really see how you can believe he'll win. or why you would want him to
My primary goal for 2020, as determined as I was in 2015/16, is to ensure that he is not elected again because I believe the only path forward for european americans is to become uncomfortable enough to demand fewer non-whites, or to create economic conditions under which niggers don't want to move here for free shit (which a leftist would create for sure with faster economic ruin). I think the only possible scenario in which he is elected in 2020 is if the left runs a completely asinine candidate like Cortez but you'll remember how much we benefited from Hillary shitting on the "bernie bro's" in 2016 to steal the nomination. That isn't happening this cycle, and the berntards are rallied behind their kike just as strongly as they did last cycle, except this time he's probably going to get the nomination. Where is the wedge that can be driven this time to peel off disenfranchised white women and white men? Trump got a lot of support from white women because white women knew Hillary was a piece of shit, and Trump postured with dominance. again, what did we gain from it?
The deeper question is obviously, even IF there were some wedge issues where we could peel away JUST ENOUGH votes… we're talking about electing Trump. This has not been a victory, and will not be a victory. I don't care what leftist is running, I'm going to vote for them. I've been disenfranchised and a borderline accelerationist since Ron Paul lost in 2008 anyway. Too much of my life has already passed by waiting for when this shit is going to resolve itself. I'm ready for the happening.
Mostly correct except this bit. If you remember Paul Volcker raised interest rates to 20% in 1980, this effectively saved the dollar and pulled us out of stagflation by reducing the number of dollars in existence. While your underlying premise is true that dollars are still "units of debt" (hence a permanent deficit) it was technically reduced in this scenario simply by destroying dollars. Transitioning from this onto sound money would be the only way to completely fix the problem.
Debt is required to make jews rich and to pay for welfare to ethnically replace you
Debt based money is a scam. The use of exponential functions with regards to money literally ensures, as a mathematical fact, that ownership of everything in the world will transfer to the Jews.
The federal reserve act of 1913 requires that the federal reserve maintain stable prices. But even maintaining a target of 2% inflation will yield a doubling of the money supply every 36 years. By the time you finish paying off your mortgage, you spend enough money on interest to pay for two houses. Just to note, all exponential functions go asymptotic and they can not last forever on a finite planet.
And with the ability to drive up prices on things like Healthcare, Education, and housing, they can pull you into this slavery where you end up working your ass off on their behalf. Jews did this as merchants and usurers and have simply taken this mastery of math tricks applied to money and have instituted it on a global level.
This, basically there is more debt than money. It's impossible to pay off.
Students aren't allowed to declare bankruptcy because of student debt…It's intolerable according to E.Michael Jones.
Student loan debt qualifies for bankrupcy in the US but you have to argue and prove "undue hardship". Usury is undue hardship. As are anti-male, anti-white, and anti-family policies put in place by empoyers.
The proper reaction to Jewish lies and bullshit is to ignore all of their brainlet sophistry and just remove them from the conversation entirely.
The jewish FED will be destroyed, with it will go the monetary policy it keeps alive.
I am a bit older than the average user, House is paid for, 2 year old Land Rover is paid for, zero debt, positive balance in both personal and business accounts, no credit card debt, it's freedom anons. I can close my doors, take 2 weeks off, never get out of bed, not to much to worry about other than the occasional neighbor thinking I'm dead when I don't even bother to put the garbage out on Tuesday night.
Anons be me at 48.
funny fucking thing is when I go to my bank they always want to ask, what do I do, as they slave away with a 48 hour work week in fancy nancy clothes. Never ever tell them.
Because one of the more important redpills is that money only means something because everyone thinks it does. For poor people, it's basically survival points. For rich people it represents power/freedom. For the truly wealthy it represents control. For nations, it simply keeps the wheels turning. Who is going to foreclose on a country? How would that even work? When you think about the deficit, it is somewhere around 15 times greater than the total amount of money in circulation and the payments on the interest alone are enough to keep financial institutions flush. Money is only worth something because of its convenience, as soon as people begin trading with something else because of a lack of confidence or some other reason (it would have to be a pretty insane situation for this to happen) it becomes worthless and everyone finally acknowledges that the emperor has no clothes. There's also the funny condition that the people who support this state of affairs are the ones who have access to or otherwise control the money supply, and thus have the power to enforce its legitimacy. Remember that behind every power, institution or system in place is the threat of violence. Nothing else has any real legitimacy (even gold).
The Federal Reserve purposely devalues American currency.
Under this current monetary system, the money cannot exist without the debt so in other word, we are being scammed forever. I know it’s a ridiculous answer, but it is the way it is.
Go to sleep.
Jews loves debts because they can loan with high interest rates so how about you sleep and remote view the Jews collecting the shekels without working to earn.
Cut it out, dad.
Get off the drug, I am not your father. This is not a Star Wars movie,
lol U MDA lolY u so madd lol y EPIC U amd LOL$$%%%%%
I'm guessing you're Indian.
No, I am Anglo-celtican.
The reason this is a piss poor idea is that generation after generation these fucking yids keep coming back with the same arguments. Once generations stop inoculating their children on the Jews and their Lies opportunities are created and they exploit them. Keep kikes in ghettos in euro for centuries? A few generations of "dude just ignore them" later and look where we are.