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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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#1
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"Why do you have a right to your money?"
On 3/12/2011 1:41 PM, Rich Grise wrote:
John R. Carroll wrote: Shall not be infringed wrote: On Mar 12, 10:58 am, jim"sjedgingN0Sp"@m@mwt,net wrote: Shall not be infringed wrote: My taxes are down. We need to cut the **** out of gov't spending. Why? Do you have any clue why you want reduced govt. spending? Yes. We're broke. American consumer net worth is $70 trillion dollars. Public debt is $14 trillion dollars. The unfunded liability of Social Security is ZERO by definition. The only thing broke is your brain. I'm wondering what's going to happen when China forecloses? Thanks, Rich We tell them that we're broke, we don't have the money to pay them back and they're out of luck. They took a risk loaning us the money. We can't pay it back so they lost their investment. Last, we tell them "life's not fair". Hawke |
#2
Posted to rec.crafts.metalworking
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"Why do you have a right to your money?"
Hawke wrote:
On 3/12/2011 1:41 PM, Rich Grise wrote: John R. Carroll wrote: Shall not be infringed wrote: On Mar 12, 10:58 am, jim"sjedgingN0Sp"@m@mwt,net wrote: Shall not be infringed wrote: My taxes are down. We need to cut the **** out of gov't spending. Why? Do you have any clue why you want reduced govt. spending? Yes. We're broke. American consumer net worth is $70 trillion dollars. Public debt is $14 trillion dollars. The unfunded liability of Social Security is ZERO by definition. The only thing broke is your brain. I'm wondering what's going to happen when China forecloses? We tell them that we're broke, we don't have the money to pay them back and they're out of luck. They took a risk loaning us the money. We can't pay it back so they lost their investment. Last, we tell them "life's not fair". So, are you going to enjoy learning Mandarin when they repossess the collateral? Thanks, Rich |
#3
Posted to rec.crafts.metalworking
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"Why do you have a right to your money?"
On 3/12/2011 10:26 PM, Rich Grise wrote:
Hawke wrote: On 3/12/2011 1:41 PM, Rich Grise wrote: John R. Carroll wrote: Shall not be infringed wrote: On Mar 12, 10:58 am, jim"sjedgingN0Sp"@m@mwt,net wrote: Shall not be infringed wrote: My taxes are down. We need to cut the **** out of gov't spending. Why? Do you have any clue why you want reduced govt. spending? Yes. We're broke. American consumer net worth is $70 trillion dollars. Public debt is $14 trillion dollars. The unfunded liability of Social Security is ZERO by definition. The only thing broke is your brain. I'm wondering what's going to happen when China forecloses? We tell them that we're broke, we don't have the money to pay them back and they're out of luck. They took a risk loaning us the money. We can't pay it back so they lost their investment. Last, we tell them "life's not fair". So, are you going to enjoy learning Mandarin when they repossess the collateral? Thanks, Rich '' The only collateral they have is paper. Which would be as valuable as the stock in a company that no longer exists. In other words the Chinese would be left holding the bag. They would not get a return on investment. They wouldn't even get a return OF investment. So they are in no position to try to dictate to us. Holding a big debt is a two way street. The side that owes is not necessarily in the weaker position. Hawke |
#4
Posted to rec.crafts.metalworking
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"Why do you have a right to your money?"
On 3/13/2011 2:30 PM, John R. Carroll wrote:
Hawke wrote: On 3/12/2011 10:26 PM, Rich Grise wrote: Hawke wrote: On 3/12/2011 1:41 PM, Rich Grise wrote: John R. Carroll wrote: Shall not be infringed wrote: On Mar 12, 10:58 am, jim"sjedgingN0Sp"@m@mwt,net wrote: Shall not be infringed wrote: My taxes are down. We need to cut the **** out of gov't spending. Why? Do you have any clue why you want reduced govt. spending? Yes. We're broke. American consumer net worth is $70 trillion dollars. Public debt is $14 trillion dollars. The unfunded liability of Social Security is ZERO by definition. The only thing broke is your brain. I'm wondering what's going to happen when China forecloses? We tell them that we're broke, we don't have the money to pay them back and they're out of luck. They took a risk loaning us the money. We can't pay it back so they lost their investment. Last, we tell them "life's not fair". So, are you going to enjoy learning Mandarin when they repossess the collateral? Thanks, Rich '' The only collateral they have is paper. Which would be as valuable as the stock in a company that no longer exists. In other words the Chinese would be left holding the bag. They would not get a return on investment. They wouldn't even get a return OF investment. So they are in no position to try to dictate to us. Holding a big debt is a two way street. The side that owes is not necessarily in the weaker position. Owing you banker a thousand dollars can be a problem for you. Owing him a million can be a problem for him, but for you - not so much. Donald Trump learned that trick back when real estate prices tanked and he went from being a billionaire to being in debt. I recall he was something like 300 million in debt to a number of bankers at one time. They were so afraid of him defaulting it put him in the driver's seat. He went out and got them to lend him even more money and refinance his loans. In the end, when real estate went back up he was a winner. But when he was hundreds of millions in debt he still didn't hand control over to the bankers. They didn't want to lose the millions Trump owed them so they bent over backwards to accommodate him. To bad our government never seemed to have learned that lesson. We owe the Chinese a trillion dollars. Now we've got them right where we want them. Right? Hawke |
#5
Posted to rec.crafts.metalworking
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"Why do you have a right to your money?"
On Sun, 13 Mar 2011 14:28:08 -0700, Hawke
wrote: On 3/12/2011 10:26 PM, Rich Grise wrote: Hawke wrote: On 3/12/2011 1:41 PM, Rich Grise wrote: John R. Carroll wrote: Shall not be infringed wrote: On Mar 12, 10:58 am, jim"sjedgingN0Sp"@m@mwt,net wrote: Shall not be infringed wrote: My taxes are down. We need to cut the **** out of gov't spending. Why? Do you have any clue why you want reduced govt. spending? Yes. We're broke. American consumer net worth is $70 trillion dollars. Public debt is $14 trillion dollars. The unfunded liability of Social Security is ZERO by definition. The only thing broke is your brain. I'm wondering what's going to happen when China forecloses? We tell them that we're broke, we don't have the money to pay them back and they're out of luck. They took a risk loaning us the money. We can't pay it back so they lost their investment. Last, we tell them "life's not fair". So, are you going to enjoy learning Mandarin when they repossess the collateral? Thanks, Rich '' The only collateral they have is paper. Which would be as valuable as the stock in a company that no longer exists. In other words the Chinese would be left holding the bag. They would not get a return on investment. They wouldn't even get a return OF investment. So they are in no position to try to dictate to us. Holding a big debt is a two way street. The side that owes is not necessarily in the weaker position. Hawke ========== Old joke [before inflation] If you owe the bank a thousand dollars, the bank owns you. If you owe the bank a million dollars, you own the bank. -- Unka George (George McDuffee) ............................... The past is a foreign country; they do things differently there. L. P. Hartley (1895-1972), British author. The Go-Between, Prologue (1953). |
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