Another Keel Lost; Another Capsize

[hellosailor]

The great thing about the national debt is that IF you grasp the issue, you should be able to make good profits from it. Because you can't change the problem.

The problem is that we let the uneducated, unlearned, and ignorant vote. Every year that I worked the polls, I had folks asking me about bond issues, which are often framed as "vote yes if you don't want the bond, vote no if you DO want the bond to be floated" so the vote appears contrary to the action.

And virtually ALL of the voters think that a bond is better than raising taxes to pay for infrastructure and operations. Because hey, why would you raise taxes when you could just sell a bond? They have no idea that every time a bond is issued, the financiers get a generous percent. And, the folks who buy the bonds (often brokers or big investors with an inside line) are making a LOAN, which will be repaid, usually with the best interest rates available. So over the life of the bond issue, the "bond faerie" has to come up with most than TWICE what the original sum was. Often three times more. And where does the bond faerie get that money from? Oh, right, a THREEFOLD tax increase, compared to what it would have been if the voters had just voted to raise taxes in the first place.

And that's the typical way we raise the national debt, pretending the bond faerie or other magical creatures will balance the books.

Anyone who can understand those basic problems (letting the wrong people vote; not educating the voters; basics of economics; etc.) can only come out ahead in one way: Encourage more bonds, and BUY THEM so you can make some money off them.

Because there's no way you can get the rubes to address the real issues and stop the growing debt. It will simply kept growing until it crashes. At which point, those who have profiteered the most are more likely to survive the crash.

There's no magic stick that will make the majority smart enough to run the country. Never has been, never was intended to be. All those dead founding fathers never intended ALL the citizens to be able to vote, they weren't deemed competent to run things. Anyone comes up with a guaranteed way to fix that, I'll sign the petition.

[alaskaflyfish]

Originally Posted by hellosailor

The great thing about the national debt is that IF you grasp the issue, you should be able to make good profits from it. Because you can't change the problem.

The problem is that we let the uneducated, unlearned, and ignorant vote. Every year that I worked the polls, I had folks asking me about bond issues, which are often framed as "vote yes if you don't want the bond, vote no if you DO want the bond to be floated" so the vote appears contrary to the action.

And virtually ALL of the voters think that a bond is better than raising taxes to pay for infrastructure and operations. Because hey, why would you raise taxes when you could just sell a bond? They have no idea that every time a bond is issued, the financiers get a generous percent. And, the folks who buy the bonds (often brokers or big investors with an inside line) are making a LOAN, which will be repaid, usually with the best interest rates available. So over the life of the bond issue, the "bond faerie" has to come up with most than TWICE what the original sum was. Often three times more. And where does the bond faerie get that money from? Oh, right, a THREEFOLD tax increase, compared to what it would have been if the voters had just voted to raise taxes in the first place.

And that's the typical way we raise the national debt, pretending the bond faerie or other magical creatures will balance the books.

Anyone who can understand those basic problems (letting the wrong people vote; not educating the voters; basics of economics; etc.) can only come out ahead in one way: Encourage more bonds, and BUY THEM so you can make some money off them.

Because there's no way you can get the rubes to address the real issues and stop the growing debt. It will simply kept growing until it crashes. At which point, those who have profiteered the most are more likely to survive the crash.

There's no magic stick that will make the majority smart enough to run the country. Never has been, never was intended to be. All those dead founding fathers never intended ALL the citizens to be able to vote, they weren't deemed competent to run things. Anyone comes up with a guaranteed way to fix that, I'll sign the petition.

Yes, I agree totally. The ability of the poor and low information voters to "vote" themselves into my bank account via taxes, bond issues and ordinances is obscene. They have no skin in the game except profit from me. Unfortunately only allowing landowners, poll taxes,..etc to vote will never re-occur. Politicians,bankers, lobbyist, special interest...etc have gutted the entire Western World. Young people today will be the most affected since they have very little opportunity to accrue vast monetary gain to sustain them thru a system crash. This is why as a collective young people are rejecting the system and disconnecting from a totally F.U. society. Escapism is what I hear most from the young people I am in contact with. They have no opportunity, and then strap them to unpayable debt of previous generations. My oldest son (Millennial) does not want to be responsible for Public Pensions that are being foisted upon him without his consent and is currently hitting a glass ceiling due to no opportunity reach the top in employment. I have to agree with him on this principle.

[JPA Cate]

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