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Displaying (2) Comments | Comment on this piece | Report objectionable art
Oh gosh!I must get in on this one. DH and I are wanting to plank our isanld in the kitchen. DH is thinking it would be very costly to do this as he has none of the needed tools.Please put my name in the hat this time!!!!!!Plus, I hope you will be planking something in your new home! I need to watch VERY CLOSELY how you guys did this. My DH is thinking it is a big deal!!!!! Please tell us that that is not the case.Good Luck to all of usThanksTer'e and David!!!!!
By: | Sep 27, 2013 | Report Comment
I think someone lkenid to this very interesting post, but since people are talking about printing money and that debt is not a big deal I wanted to post a few highlights: So, yesterday the media finally added up all the money and guarantees promised in all the alphabet soup programs in the past year. The tally? More than $7.7 trillion! And this morning we learn we get to add another $800 billion for a new total of $8.5 trillion! $8.5 trillion! How much money is that? Well, the 7th Day Economists say, âitâs only a little more that half a yearâs GDP!âAnd hereâs my response to that: Yes, but letâs get out our calculators, shall we? Letâs divide $8.5 trillion by the size of the entire population of the United Statesâ¦$8.5 trillion divided by 305,160,073 (current as of today) = $27,854 FOR EVERY MAN, WOMAN AND CHILD IN THE UNITED STATES.For my family of four? Thatâs $111,416! Let me ask you this? Can the average family support that debt? If the answer is no, where do you think this all ends? But wait, thatâs just the recent debts and obligations.And before I get too far, I want to remind people that when it comes to comparisons to GDP, my bull**** flag is flying a mile high! WHAT DOES DEBT HAVE TO DO WITH GDP ANYWAY? The answer is NOT A golly THING! There is NO relationship, no tie whatsoever between debts and GDP and to make that comparison is pure ALICE IN WONDERLAND.Hereâs the same Alice in Wonderland argument, but in a different way: Letâs say that you live in a neighborhood of 100 homes. You and your spouse earn $100K per year (which is way above average). In addition to the $500k you owe on your house, you owe another $1,000,000 on credit cards! But you say, âin comparison to the GDP of my entire neighborhood, that $1 million is just a drop in the bucket so it doesnât matter!HUH? You owe a million bucks in unsecured debt but only earn one tenth that? How does that compare to the output of your neighborhood? It doesnât! . Ah ha! Foreigners hold nearly SIX TIMES the debt as our own âFederalâ banks â niiice ..Now itâs time to talk about the future obligations of Medicare and Social Security. Before I get into the numbers, YES, WE CAN simply eliminate those programs and make them go away. WILL WE? YES, WE CAN cut our military spending in half to get back within some level of sanity⦠after all, we do spend MORE MONEY ON OUR MILITARY THAN THE REST OF THE WORLD COMBINED. But WILL WE? And again, who is the insane one in this fantasy that unfortunately is no fantasy at all?Conservatively our own government admits that the obligations of Medicare and Social Security add up to about $56 TRILLION with Social Security being the much smaller problem of the two at âonlyâ about $10 Trillion. Heck, President Bush spent more than $13 trillion with one signature when he signed Medicare Part D into law! By the way, when others calculate these obligations, they come up with numbers as high as $100 trillion, but letâs stick to the more conservative $56 trillion number, okay?Now weâre talking some serious numbers, 56 followed by twelve zeros. Do the math, that adds another $183,510 for every man, woman, and child in the United States!! Add that figure to the previous and now we are up to $246,332 for every person or $985,328 for my family of four. .DERIVATIVES:Three decades ago modern derivatives did not exist. By 2006 the notional value of the worldâs derivatives had grown to over $500 trillion and the highest report just prior to the latest collapse put the worldâs notional value of derivatives at an astounding $1.4 QUADRILLION.Now, just for comparison, the total output of all men and women of the entire globe last year was a GDP of a little over $60 trillion. $1.4 quadrillion is approximately 23 times global GDP! This is a very squishy number and is most likely much smaller now that the financial system is imploding, but it is still an unfathomably large number, in the many hundreds of trillions. Reading this post and checking some of the data really made me come to the conclusion that we as a nation are in deep, deep do-do. Either we default on the debt or we pay it and based on the numbers I don't see how we pay it. Rate this comment: 0 0
By: | Feb 13, 2013 | Report Comment
wackysnow
lyman-hs | Region 3
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