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alstry (35.09)

2011?

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August 25, 2010 – Comments (4)

What sheep would start counting his 2011 chickens before he figured out HOW AMERICA WAS GOING TO PAY BACK THE $30 TRILLION DOLLARS OF MONEY IT BORROWED IN THE PAST 10 YEARS.....?

Much of that money going to public company executive salaries......politicians salaries......doctors salaries...........and bankers salaries and bonuses.........

Who the heck is going to pay this back?

Remember, when one guy borrows a dollar and gives it to another.......the another is $1 richer and there is a debt obligation created for the one guy..........but the holder of the debt also has $1 in assets...........

Think about that for a second.....one guy is $1 dollar richer, another owns a $1 debt obligation.......that is $2 of perceived value, for only a $1 loan.........what happens if the $1 can't be paid back..........what happens to the dollar loan obligation?

Last year we made the American taxpayer responsible for it.........so the bankers could be bailed out.  So now, only the RICH taxpayers have to money, albeit not enough, to pay off the loan.  Consequently, it appears it is about time to tax the rich to start paying back the debt......and if you do the math....we will be forced to tax them most of what they have......

After all it seems only fair, they got rich because of debt......they seem like the most appropriate ones to pay it back.

4 Comments – Post Your Own

#1) On August 25, 2010 at 12:47 PM, oshiri (< 20) wrote:

American Express is pointing the way Comrade Alstrymous . . .

American Express Chinese Yuan Travelers Checks http://www.americanexpress.com/cny

A guy could almost use these for currency speculation, that is if'n he's got an outlet in the future and the checks don't expire.

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#2) On August 25, 2010 at 1:08 PM, MegaEurope (21.37) wrote:

Remember, when one guy (A) borrows a dollar (from B) and gives it to another (C).......the another is $1 richer and there is a debt obligation created for the one guy..........but the holder of the debt also has $1 in assets...........

Think about that for a second.....one guy is $1 dollar richer, another owns a $1 debt obligation.......that is $2 of perceived value, for only a $1 loan.........what happens if the $1 can't be paid back..........what happens to the dollar loan obligation?

What is so hard to understand here, alstry?
A: -$1
B: +$0
C: +$1

If A defaults on loan from B,
A: $0
B: -$1
C: +$1

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#3) On August 25, 2010 at 1:50 PM, alstry (35.09) wrote:

Actually....no

A.  The Bank/or Investor has a bond/note worth +$1

B.  The debtor has given his money to the another person $0

C.  The another person has the $1

There are two people with assets worth $1 and one with nothing.

If the debtor defaults, the bank is hosed.......but last year, the government guaranteed trillions of dollars of debt that is likely to default.......

Now the only question is who is responsible to make good on that guarantee.....my guess is the another guy who got the dollar from the person who borrowed it.....or you the taxpayer.

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#4) On August 25, 2010 at 2:07 PM, alstry (35.09) wrote:

Who coulda predicted this?

UPDATE: Cutbacks force police to curtail calls for some crimes...

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