How to "fix" the U.S. economy

Quote from Scataphagos:

Was just making a "FYI" general response... soooo many noobs, naives, and idiots on ET... wish there were more grey matter.. :(

It's RIDICULOUS when ETers chime in with, "just default", "just get rid of debt", "get rid of money", etc...

Doubt they could share one brain cell between them..
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We are very lucky to have you here on ET.

The part that intrigues me is what holds you here, because judging from your comments you have a very low opinion of ET, of which you are a member
 
this debt could be forgiven to some extent between countries,has been done many times before,there is a problem with credit default swaps held by the large banks who we bailed out,who wouldnt get paid on these cds,they are still screaming they were forced to take the money,didnt need it, were forced to become banks,this is where the meat of the problem and most of the disagreements lie,for this to be cleared up,we need to know where the agreements originated for laws passed or changed, we would need to define,publish, who got paid, who did the paying, prosecute severely,sounds like a maddoff or enron accting scheme multiplied by 100,there is still no accountability for anything,only murmurs of investigations,,..sounds like a bad smalll time dirty sherriff movie ,where's bufford t pusser,or chuck or van dam
 
Quote from jorgez:

We are very lucky to have you here on ET.

The part that intrigues me is what holds you here, because judging from your comments you have a very low opinion of ET, of which you are a member
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Honestly..... my circle of friends is very small compared to the ET community. I pipe in with my comments in the hope many will give thought to what I say and perhaps spread worthwhile info and truth through their circle of friends.

I have no "pro" political bias, but I despise the Left, Democrats, and Progressives... I view them as America's enemies. I'm a big believer in truth, personal accountability, and honor.

I like to recall Danny DiVito's character in "Other People's Money".. when he as an attorney offers this.... "When someone who makes $400/hr offers you free advice, perhaps you'd do well to pay attention".
 
Quote from Scataphagos:

Honestly..... my circle of friends is very small compared to the ET community. I pipe in with my comments in the hope many will give thought to what I say and perhaps spread worthwhile info and truth through their circle of friends.

I have no "pro" political bias, but I despise the Left, Democrats, and Progressives... I view them as America's enemies. I'm a big believer in truth, personal accountability, and honor.

I like to recall Danny DiVito's character in "Other People's Money".. when he as an attorney offers this.... "When someone who makes $400/hr offers you free advice, perhaps you'd do well to pay attention".
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good luck spreading "the word" via ET.
 
Quote from jorgez:

good luck spreading "the word" via ET.
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Yeah, I know how it goes when you're pissn' into the wind... :mad:

But with 50,000 - 100,000 ET members.... if only 10 see the light on anything I've said, I can hope that's worth it...

I know how truth and reality can alter one's thinking.... I used to profess being a Democrat. When I thought about that, I wondered "why". The reason was because I was conditioned from my parents. When I actually THOUGHT about "things", I logically and philosophically came to REJECT EVERYTHING THE DEMOCRAT PLATFORM STANDS FOR AS BEING BASED IN THEFT AND LIES... AND BEING ANTI-FREEDOM, ANTI-AMERICAN!

American has traditionally been about FREEDOM AND OPPORTUNITY... NOT "entitlement"... as it appears to be today. :mad: :mad:
 
Quote from heypa:

What is the alternative to fractional reserve banking?
What is your recommended way to get rid of debt?
Seems to me that when you have cleared the cliff edge the outcome is inevitable like the cowboy on the horse yelling Whoa.
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I think Congress should issue debt-free notes with the goal of price stability. That's the FED's mandate, anyway. Spend or withhold based on the price of a fixed basket of commodities. When gold is low, spend. When gold is high, withhold. Then institute full reserve banking. This way, the value of the dollar remains intact, the time value of wealth is protected, money supply keeps pace with demand as measured by the commodity basket price, deficits eliminated, income taxes eliminated, and citizens enjoy declining prices in manufactured goods from production efficiencies. That's not difficult. On the flip-side, capital would be more expensive (6-8%), with 30-50% down on large purchases, the norm. The trade off is bubbles are gone, and the economy takes off. Imagine what 0% income taxes would do???

How to eliminate debt? The national debt gets retired with debt-free notes issued by Congress as it comes due. Bankers get stuffed. Private debt is honored. The rub here is under fiat fractional reserve, banks create the money they lend. So the car company, home builder, or Bestbuy get paid immediately the loan is created (and paid). In the event of default, real producers never get hurt. The true cost of the loan - debasement - was already paid by society manifest through increased prices the moment that loan was created and paid to the supplier. Bankruptcies would be limited to geared companies, banks, and Wallstreet investment types that depend on revolving credit to stay in business. It should also be noted that all types of speculation would dry up as the credit we get to juice the markets originates in the fractional reserve system. Kiss trading good-bye, too. A much better world, though. We could see 3-5% GDP growth, YOY, as the norm. The norm. Most of us could actually start a business, contribute, employ people and have a good chance of success if we weren't stupid about it. That's the kind of world I want to live in. We'd get a big real estate and stock market crash, but that's inevitable, regardless. And who cares anyway seeing as mortgage debt gets written off.
 
Numbers 1,2 and 3 have already been implemented. 4 and 5 are happening at this very moment.

1. You cannot legislate the poor into prosperity by legislating the wealth out of prosperity.

2. What one person receives without working for, another person must work for without receiving.

3. The government cannot give to anybody anything that the government does not first take from somebody else.

4. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work, because somebody else is going to get what they work for, that is the beginning of the end of any nation.

5. You cannot multiply wealth by dividing it.
 
Quote from ammo:

it may have already been mentioned,but the problem is banks are like a monopoly,they need to limit there size,recently all the tarp money,tax dollars, went to bail them out,while the smaller banks were offered next to zero for their problems,hard to argue that their size is healthy for anyone, and lobbying in US or anywhere else should be a punishable crime for elected officials and corporations ..it's not the money thats bad, it's just a means of exchange,fish hooks and whale oil,it's the abuse of money
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Good post. I'm still not sure about lobbying and what to do about it.

I think the Constitution is best guide, here. Under the 10th, the Federal Government has no authority to regulate anything outside it's narrowly defined Constitutional limits. Still, I think Americans have a right to petition or lobby their State Governments. But, the flip-side is Government immunity against prosecution needs repeal to allow corruption charges. And the lobbying process, completely transparent at the State level?
 
Quote from Sanaz3:

Good question...yeah maybe I should just stop it and leave it to time:(
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the problem is, you keep repeating a concept that is so ridiculous to anyone who has even basic understanding, yet you continue to think there is wisdom in it.

The teacher graded the report. You got an F minus. IN fact, it was framed as the most useless report of the year.

If you are trying for ET 10 stupidest ideas from the most clueless new poster, you are definitely in the running.

You are not giving a moral or a groundbreaking or a revolutionary idea. You are just clueless.

PLEASE stop wandering around threads and repeating this mantra. Just shut up. Is that simple enough?
 
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