Use access key #2 to skip to page content.

alstry (35.64)

BREAKING: Exclusive To CAPS

Recs

6

August 09, 2010 – Comments (6)

Alstry is the FIRST attorney in America to apply the legal concept of Joint & Several Liability to the relationship of American Citizens to the American Government.  Up until recently it was never an issue because, for the most part, our politcians behaved fairly rationally.  But in the last ten years, our politicans borrowed more money than all of our politicians borrowed in the prior 225 years of our nation's history....living high on the hog and taking their families and friends are some pretty lavish vacations.

And the past few years, the borrowing has gone nuts....borrowing and spending over $3 trillion dollars just at the Federal Level alone...about $10,000 for every man, woman and child.

Most people don't understand the concept of J&S liability....in its most basic, we are all essentially guarantors of our nations debt.....sorta like consignors of a loan....so even though we didn't borrow the money, we are collectively AND individually liable for ALL of our nation's debt. 

Now that you understand this, it makes all that government waste a little more personal doesn't it?  Sorta like being married to a spouse who you can't reign in their spending....

When our private economy was booming and paying lots of taxes....it really wasn't a big deal.  But now that Wall Street has cut off credit to the private economy, the private economy is shutting down, tax receipts have evaported and politicians have started borrowing insanely to maintain their high salaries and lavish lifestyles and give you the perception that the economy has stabilized.  Really not too different then when homeowners were encouraged to borrow against their homes and spend massively to support the economy.

THE ONLY PROBLEM IS IF YOU HAVE ANY ASSETS, UNLIKE THE SITUATION WHERE YOUR NEIGHBORS BORROWED AND YOU HAVE NO DIRECT LIABILITY, YOU ARE DIRECTLY RESPONSIBLE FOR THE DEBT POLITICIANS CREATE.....JUST LIKE YOU ARE RESPONSIBLE IF THEY DECLARE WAR ON ANOTHER NATION....

and if your fellow citizens are broke, government will be compelled to take everything YOU have to pay off that debt.

If you know any lawyers, ask them to explain joint and several liability to you....as far as I know, Alstry and the Institute of Alstrynomics were the first to publicly apply it to the relationship between citizens and their government.

Just wait...how do you think Americans are going to react when they learn that they are responsible for the debt our politicians racked up creating this illusion of a recovery.  How do you think homeowners felt when they learned that the equity they thought they had accumulated over their lives had evaporated?

You really think you can build a recovery by borrowing trillions?  Somebody has to pay it back....and if you have any savings, it will likely be YOU as millions of your fellow Americans are about to lose their jobs!

Greenspan Calls For Repeal of All The Bush Tax Cuts 

Little Relief Seen For State and Local Layoffs

Update: Chicago Public Schools - New Budget Includes 1,700 Job Cuts

6 Comments – Post Your Own

#1) On August 09, 2010 at 1:21 PM, alstry (35.64) wrote:

Once the citizens find out they are responsible for the debts of our politicians....is a war going to break out between the citizens and politicians....

Food Stamps Cuts Coming

More High Salaries in Ball, California 

OR

will the politicians take US to war first?

NKorea Fires Artillery Near Disputed Waters...

Castro returns with apocalyptic warnings...

Report this comment
#2) On August 09, 2010 at 1:58 PM, alasker (< 20) wrote:

Hey Alstry:

Funny that you mentioned online elementary/ middle schools a few months ago in your blogs- looks like the Florida is expanding. Once a technology is introduced- like a cell phone- its amazing how quickly the world changes.

http://thejournal.com/articles/2010/08/04/florida-online-elementary-school-expands-educational-resources.aspx

http://tech.fortune.cnn.com/2010/07/27/summer-school-goes-online/#more-32776

 

Report this comment
#3) On August 09, 2010 at 2:16 PM, alasker (< 20) wrote:

The wikipedia site on the florida virtual school.

http://en.wikipedia.org/wiki/Florida_Virtual_School

Report this comment
#4) On August 09, 2010 at 4:30 PM, alstry (35.64) wrote:

My wife and I duke it out on this issue all the time....she is a first grade teacher and has stayed in first grade forever(keeps her vocation and her husband's mentality on about the same level) and likes to focus on the benefits of socialization....and I agree with her....but I don't think it will come from traditional education in the future.

It was hard for people to adjust to the automobile from the horse and carriage, or paper money from metals, ....it will be a lot easier to adjust to email and online schooling and digital currency.

What will be incredible is how will the sheep learn that all this money that government is borrowing is their liability? ....but we will get through it....I hope without necessitating war....but I start to doubt more and more each day.

Report this comment
#5) On August 09, 2010 at 4:41 PM, alasker (< 20) wrote:

I am in my early thirties and I when I was growing up my group of "friends" was a core group- most of what we did was outside. But even socialization has changed in recent years. yes there will always be activities of baseball- but how much of children's social network is developing into facebook and off shoots like farmville or texting. South Park had an interesting parady of the same issue.

Report this comment
#6) On August 09, 2010 at 4:57 PM, alstry (35.64) wrote:

Now you are thinking....when I grew up, sports was at the park and pick up games........today, it is organized leagues and lessons starting as early as three.....

we could have never dreamed of anything like it is today...even my buddies who had ten plus years in professional sports cringe at what they are seeing today.......times change, and we will all have to change with it......

pretty soon, professional sports may not even need people as we move digitally.....just like we don't need people to pilot planes any more or act in movies...ala 300.

 

Report this comment

Featured Broker Partners


Advertisement