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May 16 2017

The Real Story: The Ever-Increasing Debt

The professional wrestling match in Washington veers back and forth, keeping us on the edge of seats. Sometimes the Democrats seem to have a lock on the future. Then the Republicans take control of the House, Senate, and Oval Office. But only a few months in, the new presidency appears to be imploding! Surely the Democrats will soon be back in ascendency — followed a few years and a few scandals later by the GOP again.

Meanwhile, the real story remains the same, regardless of the current headlines:

Whichever party dominates in Washington, nobody is about to freeze government spending, or even slow down its explosive growth. At least, not until there is no longer any choice.

On a tip from Lyle.

3 Responses to “The Real Story: The Ever-Increasing Debt”

  1. RK Lane says:

    I admit to knowing nothing about economics. I do know that there is only about $22 trillion dollars in actual paper and coin money in circulation globally. That means that all the global debt exists in the form of 1s and 0s in digital currency which is based on nothing but IOUs and backed by mortgages on tangible things such as property and real estate that is also mortgaged to the hilt. Much of the U.S. debt is based on the “full faith and trust” that the citizens of the U.S. will be responsible for it. Most of the U.S. citizens are also mortgaged to the hilt. My point is that the debt is based solely on the “supposed value” that lenders assign it. Yes, the debt is real…the true value of money, though…is as worthless as the paper it’s printed on and is only an image. It only has the value that those who create it have given it.

  2. RKae says:

    Charging compound interest (“usury”) used to be punishable by death. Now it’s the basis of the global economy.

    Of course, we’re smarter than the people in the past, aren’t we?

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