I keep hearing deficits do not matter, and the national debt does not matter (two different things), because we owe it to ourselves.
If we owe it to ourselves, as I queried, what is it we pay back?
And if we owe it to ourselves, as in "The People," collectively, then why do we have to pay interest on what we "owe ourselves" to private companies?
And exactly what do we have to pay back? Money? No, because the debt is denominated in bonds and other instruments, what we borrowed was "credit" not money.
And to whom to we pay it back? To ourselves? I think our CPAs would find this concept befuddling, As a practical matter.
And if we forgive ourselves this debt, then how will the IRS view it? As income?
Can it be paid back? That would be nice, but it is actuarially impossible. Our kids will be paying real money to clear the paper debts. We enjoy whatever it is we are getting on credit, for example:
1. Wars.
2. The surveillance state.
3. The most extensive prison system mankind has ever known.
4. EBT fund cards for frankenfoods.
5. Frankenfoods.
6. Roads and so on.
Now, we have these things, and for better or worse we are married to them. But if we owe it to ourselves, then surely we can repudiated the debt to ourselves, with no ill effect.
So why don't we? Because those private companies who earn interest on the credit-based debt would no longer have the income streams to pay off the politicians who support a system in which credit is extended at interest and some of the interest is shaved off to get politicians re-elected who in turn support a system in which credit is extended at interest and some of the interest is shaved off to get politicians re-elected who in turn support a system in which credit is extended at interest and some of the interest is shaved off to get politicians re-elected who in turn support a system in which credit is extended at interest and some of the interest is shaved off to get politicians re-elected who in turn ad infinitem.
And if we did not support this system none of us would get any free stuff.
Nothing bad would happen if we just repudiated the debt, like Iceland. Those billionaires who are on top of this system would simply make $120,000 a year, and be taxed, not 500 million, untaxed. We'd stop buying things on credit at interest, and we'd have all the good things we have now, we'd just not have
And then I hear trade deficits matter. They do? I have a trade deficit with Whole Foods. I buy far more from them than they buy form me. In fact, Whole Foods has never bought a thing from me, and I am pretty sure they never will, but I keep buying from them. Where is the problem. Is this bad for me? And Amazon.com has bought incalculably more form me that I could ever buy from Amazon.com, so somehow this is bad for Amazon.com. If so, please do not tell them.
In any event, none of this will change. Down we go. The world can be a wicked place, and that is good to know. Because you can know where we need to struggle, and where it matters for you personally to struggle, and in that passion know the joy of working on a solution. Raw goat cheese. You are part of the solution! Raw wool sweaters. You are part of the solution. Alternatives to the "criminal justice" system. You are part of the solution! An so on.
Get customer-employed and be a part of the solution.
Feel free to forward this by email to three of your friends.
If we owe it to ourselves, as I queried, what is it we pay back?
And if we owe it to ourselves, as in "The People," collectively, then why do we have to pay interest on what we "owe ourselves" to private companies?
And exactly what do we have to pay back? Money? No, because the debt is denominated in bonds and other instruments, what we borrowed was "credit" not money.
And to whom to we pay it back? To ourselves? I think our CPAs would find this concept befuddling, As a practical matter.
And if we forgive ourselves this debt, then how will the IRS view it? As income?
Can it be paid back? That would be nice, but it is actuarially impossible. Our kids will be paying real money to clear the paper debts. We enjoy whatever it is we are getting on credit, for example:
1. Wars.
2. The surveillance state.
3. The most extensive prison system mankind has ever known.
4. EBT fund cards for frankenfoods.
5. Frankenfoods.
6. Roads and so on.
Now, we have these things, and for better or worse we are married to them. But if we owe it to ourselves, then surely we can repudiated the debt to ourselves, with no ill effect.
So why don't we? Because those private companies who earn interest on the credit-based debt would no longer have the income streams to pay off the politicians who support a system in which credit is extended at interest and some of the interest is shaved off to get politicians re-elected who in turn support a system in which credit is extended at interest and some of the interest is shaved off to get politicians re-elected who in turn support a system in which credit is extended at interest and some of the interest is shaved off to get politicians re-elected who in turn support a system in which credit is extended at interest and some of the interest is shaved off to get politicians re-elected who in turn ad infinitem.
And if we did not support this system none of us would get any free stuff.
Nothing bad would happen if we just repudiated the debt, like Iceland. Those billionaires who are on top of this system would simply make $120,000 a year, and be taxed, not 500 million, untaxed. We'd stop buying things on credit at interest, and we'd have all the good things we have now, we'd just not have
1. Wars.
2. The surveillance state.
3. The most extensive prison system mankind has ever known.
4. EBT fund cards for frankenfoods.
5. Frankenfoods.
We'd have mag-lev transport with its non-polluting and energy efficient aspects, so no roads as we know them, just as 30 years after telephone deregulation we no longer have telephones as we knew them.
And then I hear trade deficits matter. They do? I have a trade deficit with Whole Foods. I buy far more from them than they buy form me. In fact, Whole Foods has never bought a thing from me, and I am pretty sure they never will, but I keep buying from them. Where is the problem. Is this bad for me? And Amazon.com has bought incalculably more form me that I could ever buy from Amazon.com, so somehow this is bad for Amazon.com. If so, please do not tell them.
In any event, none of this will change. Down we go. The world can be a wicked place, and that is good to know. Because you can know where we need to struggle, and where it matters for you personally to struggle, and in that passion know the joy of working on a solution. Raw goat cheese. You are part of the solution! Raw wool sweaters. You are part of the solution. Alternatives to the "criminal justice" system. You are part of the solution! An so on.
Get customer-employed and be a part of the solution.
Feel free to forward this by email to three of your friends.
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