u.s. debt limit (Page 4)

Sarcastic Dots: Freedom isn't free.

Take the hint.

Leon35: Sarcastic, whoever gave us the freedom is the only one who can charge us for it. Who gave us the freedom and if it is not free, how are we paying for it ?

Mr. Brightside!: The problem is the US central banking system. Until the Americans are oblivious to this fact, nothing will save your country. The system is designed to get debt and lots and lots of debt. no amount of deregulation, taxes or oil will save this system until the system of debt is destroyed.

dvustimmer: Mr Brightside. whoa, wow, can you rephrase that? I'm sure that I'm either not catching an angle of the wording, or something. It kinda reads like until we are oblivious of the problem destroying our country, nothing can save our country? I don't think you meant it that way. I can tell you I'm oblivious to alot of things, and that never really help. I have alot of experience at that.

davidk14: .


Brightside said:

The system is designed to get debt and lots and lots of debt. No amount of deregulation, taxes or oil will save this system until the system of debt is destroyed.


David responds:

I agree with Brightside.

I am debt free….

…but my credit rating is horrible and that’s because I do not owe anyone any money. If I went right now to a car dealership, I could not by a car on “credit” but I can buy a car with cash. However if I owed money ie: credit cards, and had a record of consistent payments, no problem.

The more you owe with a record of consistent payments, the lower the “interest” rate. Most people have credit cards, home loans, car loans; loans of all types and with consistent monthly “payments”, the loans have low interest rates. However, in reality, they don’t own shit. Someone else owns their shit and makes money off the interest payment So, people live in houses, have cars, TV’s, furniture, lots of expensive cloths, computers, X Boxes that they bought “on credit”. It’s really not theirs.


Now, if you do not have a consistent payment history and let’s say you want to buy a house, you apply for a loan and they could say, “…well, you may be able to secure the loan but since you don’t owe anyone else any money, unfortunately for you, we gonna shove a huge interest rate right up your ass.”


I have had lots of car loans, home loans and credit cards in my lifetime. I eventually realized that I was hooked, just like on a narcotic, to have a great credit rating like a good American should. It took years and lots of work to get a terrible credit rating…however, I now owe nothing. Whatever I have I’ve saved for and bought with cash. It’s not a lot of “stuff” but I’m comfortable.


In America, the poor in reality are wealthy. They may not have a lot of stuff, but they owe no one anything. This is where “politicians’ want the “poor” to become middle class and “own” homes and have a great credit rating so as to….and on and on and on. Why do you thing the big push during the nineties to have lower income families to own homes? How about right after WW2 when the soldiers came home by the hundreds of thousands and they all got the GI Bill or what we commonly now call a “stimulus bill”?


What was created after WW2 was the biggest ponzi scheme of the century and it all started to seriously fall apart in 2008.


Brightside is correct when he said, “The system is designed to get debt and lots and lots of debt. No amount of deregulation, taxes or oil will save this system until the system of debt is destroyed.”

I remember a time where the bank only loaned money for homes and cars “on a handshake” because the bank was part of the local community. If you had a job and could afford the loan, a simple background check was done; a few personal recommendations and you got the loan. No such thing as a credit rating score.

Will I ever have a “mortgage” again? What for? A family member bought a house in 1971 for $27,200. They paid well over $250,000 over 30 years. The house had a “value” of close to $650,000 in 2003. Yah want to know how much it’s worth today? Around $65,000…..maybe. Great investment right (sarcasim)?

Will I ever have a “new car loan” again? I own my vehicle that I have but it won’t last forever but I take “real good” care of it. I bought this one with cash that “I had saved up” so I don’t see why the next one wouldn’t be bought with cash as well..

The question is, what do we replace this “credit” system with? Buy stuff only with cash? Perhaps...but it’s the big ticket items like cars and homes which will be difficult.

You see, when they raised the national debt every year for years, they got “stuff” but now, they can barely pay the interest on the loan and that’s why the holders of the loans for the US are getting worried. So, of course, they in Washington want to raise the debt again, and again and again thinking this will get us out of trouble.

Sorry folks, looks like the ride is over.

.

franklin1950: back in the news. the supper committee of 6 has failed in their mission to find a way.
expectations of their failure now realized.
what now .?
more politics . more blame game . more runaway national debt.
same old .

OCD_OCD: Until our elected officials are forced to live by the same standards we do and until they are forced to face the consequences of their actions, we will continue to follow the same pattern. Term limits are great but do you think they are going to vote for term limits for themselves? It's a gravy train and the majority of them are riding the rails.

We have to quit spending. We have to quit spending NOW.

OCD_OCD: How much does our government spend on the Department of Education? Test scores nationwide are lower than ever. We have done nothing more than empower yet another bureaucratic agency who's only purpose is self-perpetuation. They don't want to fix education. They want to protect their jobs and their share of the pork.