Little-Acorn
05-09-2014, 04:33 PM
We haven't paid off a dime of the National Debt since before WWII.
(Well, I lied, there were a few years in the mid 1950s when the Natl Debt went down, from $274 billion to $270 billion, we paid off a whopping 1-1/2% of it before it shot back up the following year and has never come down again)
People thought $270 billion was huge, back then. Now it's $17 *trillion*.
So how come we aren't fiscally dead and buried by now? Easy. We made each dollar, worth a lot less. So the VALUE we now owe, is a lot less than it would have been. Neat trick, eh?
If you're wondering whose pocket all the VALUE vanished from to "pay off" the Natl Debt, consider the guy who saved up $15,000 in 1950. That was enough to buy ten pretty good, brand new cars then. If he saved it until now, it would be barely enough to buy one new car, and a cheap one at that.
That's the guy who paid off the National Debt. Him and his friends. And he probably didn't even realize he was doing it. And he's probably wondering why he can only buy one new car now instead of ten. Where did the other nine cars go?
If you're wondering if we are going to see inflation or deflation soon, the answer is: If we see any deflation at all, it won't last long. We've got a TON more debt to pay off. So we'll see almost entirely INflation, as far as the eye can see, from now on. It's the only way to pay it off.
And if you were wise enough to follow your grandfather's advice and save your money... YOU ar the one who will pay. Kiss most of your savings good-bye. Sucker.
Have you ever wondered why the government has never put a tax on savings and wealth?
Ha ha, fooled you. They HAVE put a tax on wealth, and it's been going for decades. It's called Inflation. And YOU have been paying it. That's why you're not rich now. Sucker.
(Well, I lied, there were a few years in the mid 1950s when the Natl Debt went down, from $274 billion to $270 billion, we paid off a whopping 1-1/2% of it before it shot back up the following year and has never come down again)
People thought $270 billion was huge, back then. Now it's $17 *trillion*.
So how come we aren't fiscally dead and buried by now? Easy. We made each dollar, worth a lot less. So the VALUE we now owe, is a lot less than it would have been. Neat trick, eh?
If you're wondering whose pocket all the VALUE vanished from to "pay off" the Natl Debt, consider the guy who saved up $15,000 in 1950. That was enough to buy ten pretty good, brand new cars then. If he saved it until now, it would be barely enough to buy one new car, and a cheap one at that.
That's the guy who paid off the National Debt. Him and his friends. And he probably didn't even realize he was doing it. And he's probably wondering why he can only buy one new car now instead of ten. Where did the other nine cars go?
If you're wondering if we are going to see inflation or deflation soon, the answer is: If we see any deflation at all, it won't last long. We've got a TON more debt to pay off. So we'll see almost entirely INflation, as far as the eye can see, from now on. It's the only way to pay it off.
And if you were wise enough to follow your grandfather's advice and save your money... YOU ar the one who will pay. Kiss most of your savings good-bye. Sucker.
Have you ever wondered why the government has never put a tax on savings and wealth?
Ha ha, fooled you. They HAVE put a tax on wealth, and it's been going for decades. It's called Inflation. And YOU have been paying it. That's why you're not rich now. Sucker.