[ARCHIVED THREAD] - Class Warfare Timeline Predictions (Page 1 of 3)
Posted: 12/3/2012 11:07:54 AM EDT
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For the last couple of years, it has been the 1%. The 1% are evil. They steal money from the poor. They fire workers while taking huge bonuses. They are paying less taxes than school teachers.
All of a sudden, it's the 2%. Now we need to raise taxes on the 2%. It is costing us money to give them these tax breaks. I'm not really sure when we changed from 1% to 2%, but I think most of us know exactly where this is heading. So, when do you think we will be talking about the 10%? I'm thinking the next D president will start that talk, maybe in 6 years or so. |
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We aren't going to make it another 6 years. Eh, I think we will. We can service the debt we have for a while yet, especially if the rest of the world keeps doing poorly as well. We've had more debt than this before compared to the size of our economy, but we won't last much longer without extending the 'hate the rich' mentality further than $250,000 / year and up. |
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The currency crisis or the sovereign debt crisis will hit long before then.
When it does, you'll see nearly all class distinctions wiped away. And any that aren't will be "taxed and redistributed" away. As long as there are lazy, stupid, or violent people, there will be class distinctions. As long as there are class distinctions, the Left will be working hard to "correct" them. And that is that. |
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Why do you think I always talk about the Kulaks.
Here some motherfuckers who went Galt against Stalin. |
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Yeah...pretty soon $50,000 for a family of four is gonna be 'rich'... Yea soon i will be rich! Anyone with a job is rich. This. That said, anyone who gets lucky enough to be born in America is rich. You don't have to be born here anymore. You can be a parasite, and still get "American Rich", as long as you can work the FSA game. TXL |
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Yeah...pretty soon $50,000 for a family of four is gonna be 'rich'... When you talk to people who are poor, as in poor enough to qualify of assistance, many of them will pretty much identify anybody who works as 'rich.' "Rich" is always relative, because it is based on observations, assumptions, and comparisons. |
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I've been thinking that we were there for the last 35yrs (?) People that get-up every morning, go to work, contribute to society/pay taxes have ("Seemed" to me) been painted as the core of every problem the US has experienced since I was a teen' working two jobs (And, going to school) in the late '70's. I'm sorry  |
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For the last couple of years, it has been the 1%. The 1% are evil. They steal money from the poor. They fire workers while taking huge bonuses. They are paying less taxes than school teachers. All of a sudden, it's the 2%. Now we need to raise taxes on the 2%. It is costing us money to give them these tax breaks. I'm not really sure when we changed from 1% to 2%, but I think most of us know exactly where this is heading. So, when do you think we will be talking about the 10%? I'm thinking the next D president will start that talk, maybe in 6 years or so. Six years? You're a real optimist. There is already talk in some of the left wing media that the top 10% need to be hammered, not just the top 1 or 2%. And IIRC that puts the bar at $48k/yr for a single. I expect that Obobo had his Obots will be be there full-swing next summer. |
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Why do you think I always talk about the Kulaks. Here some motherfuckers who went Galt against Stalin. Yes they did... and Stalin imprisoned/murdered them by the millions. Gotta admit though... I like how they rolled. It takes a certain panache to burn your own farm, and slaughter your own cattle, rather than give them up to the filthy Marxists. |
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That said, anyone who gets lucky enough to be born in America is rich. Bs. Peeps in china making a few hundred a month drive cars, have places to live. The lie of the free market democratic system is that when you make more youll have more. But no, shite just costs more. Didnt you see Pulp Fiction? "They got the same shit there as they do here, its just the little things that are different." Your $5 latte has $0.01 of coffee in it.... Wtf ever rich man..... And rate the US in almost anything other than taxes and we are waaay down the list. You have been brainwashed my friend.... |
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That said, anyone who gets lucky enough to be born in America is rich. Bs. Peeps in china making a few hundred a month drive cars, have places to live. The lie of the free market democratic system is that when you make more youll have more. But no, shite just costs more. Didnt you see Pulp Fiction? "They got the same shit there as they do here, its just the little things that are different." Your $5 latte has $0.01 of coffee in it.... Wtf ever rich man..... And rate the US in almost anything other than taxes and we are waaay down the list. You have been brainwashed my friend.... 
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That said, anyone who gets lucky enough to be born in America is rich. Bs. Peeps in china making a few hundred a month drive cars, have places to live. The lie of the free market democratic system is that when you make more youll have more. But no, shite just costs more. Didnt you see Pulp Fiction? "They got the same shit there as they do here, its just the little things that are different." Your $5 latte has $0.01 of coffee in it.... Wtf ever rich man..... And rate the US in almost anything other than taxes and we are waaay down the list. You have been brainwashed my friend....
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We aren't going to make it another 6 years. We'll be around, but it is probably going to suck pretty hard. 20% unemployment, rationed medical care, confiscatory taxes on most everyone, much more inflation (probably not to hyper inflation level, but maybe), probably 'reasonable' gun laws, amnesty, probably some decent civil unrest in major cities. I wonder if the country will even try to turn around. Will the electorate try to slam on the brakes and pull us back or clamor for more government to 'save' them? At some point when the rest of the world realizes we are dead broke we'll probably start looking like Greece. The FSA will go nuts if their EBT doesn't keep pace with inflation. If they can no longer live in the lifestyle they have become accustomed to it will become very interesting. |
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That said, anyone who gets lucky enough to be born in America is rich. Bs. Peeps in china making a few hundred a month drive cars, have places to live. The lie of the free market democratic system is that when you make more youll have more. But no, shite just costs more. Didnt you see Pulp Fiction? "They got the same shit there as they do here, its just the little things that are different." Your $5 latte has $0.01 of coffee in it.... Wtf ever rich man..... And rate the US in almost anything other than taxes and we are waaay down the list. You have been brainwashed my friend.... 8 United States48,442 94 China8,466 That's GDP per person that each country creates each year, adjusted for PPP, so the cost of goods in each country is factored in. Yeah, things cost more here, but we're still much much much much wealthier than China. |
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We aren't going to make it another 6 years. Eh, I think we will. We can service the debt we have for a while yet, especially if the rest of the world keeps doing poorly as well. We've had more debt than this before compared to the size of our economy, but we won't last much longer without extending the 'hate the rich' mentality further than $250,000 / year and up. China seeing a downturn in manufacturing. Greece, Spain, Italy, Portugal in financial trouble. when dominos begin to really fall China will start calling in it's debt. 
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We aren't going to make it another 6 years. Eh, I think we will. We can service the debt we have for a while yet, especially if the rest of the world keeps doing poorly as well. We've had more debt than this before compared to the size of our economy, but we won't last much longer without extending the 'hate the rich' mentality further than $250,000 / year and up. China seeing a downturn in manufacturing. Greece, Spain, Italy, Portugal in financial trouble. when dominos begin to really fall China will start calling in it's debt. What do you mean calling in its debt? Do you really think China wants to hurt the economy that it most relies on for its exports? |
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We aren't going to make it another 6 years. Eh, I think we will. We can service the debt we have for a while yet, especially if the rest of the world keeps doing poorly as well. We've had more debt than this before compared to the size of our economy, but we won't last much longer without extending the 'hate the rich' mentality further than $250,000 / year and up. China seeing a downturn in manufacturing. Greece, Spain, Italy, Portugal in financial trouble. when dominos begin to really fall China will start calling in it's debt. What do you mean calling in its debt? Do you really think China wants to hurt the economy that it most relies on for its exports? Leverage while different it its roots, the US and Japan in 1944 (I'm old dammit) 1941 began as a fincial war.
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| The numbers seem to vary depending upon which report you read, but it seems like 8% is the common number being used for the amount of our debt that China holds. While that is alot of money I find it odd that any time discussion of our national debt comes up people talk as if China holds nearly all of it. What would happen if they wanted their money and we said sorry we don't have it better luck next time? I'm not saying this is or isn't what we should do, but more interested in possible scenerios that may play out if people were to call in their debt and we simply didn't pay. On the opposite end of the spectrum what if we just printed them up the 4.5 trillion or what ever it is we owe them and say here you go freshly printed just for you? Of course we would have inflation, but what would they do? |
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For the last couple of years, it has been the 1%. The 1% are evil. They steal money from the poor. They fire workers while taking huge bonuses. They are paying less taxes than school teachers. All of a sudden, it's the 2%. Now we need to raise taxes on the 2%. It is costing us money to give them these tax breaks. I'm not really sure when we changed from 1% to 2%, but I think most of us know exactly where this is heading. So, when do you think we will be talking about the 10%? I'm thinking the next D president will start that talk, maybe in 6 years or so. Everyone know whats Happens after 2%... SKIM MILK!!!! WE ARE DOOMED! WHOLE MILK!!!!!!!!!!!!!!!!!!!!!!!! |
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For the last couple of years, it has been the 1%. The 1% are evil. They steal money from the poor. They fire workers while taking huge bonuses. They are paying less taxes than school teachers. All of a sudden, it's the 2%. Now we need to raise taxes on the 2%. It is costing us money to give them these tax breaks. I'm not really sure when we changed from 1% to 2%, but I think most of us know exactly where this is heading. So, when do you think we will be talking about the 10%? I'm thinking the next D president will start that talk, maybe in 6 years or so. I would be more worried about that Bullshit offer boner layed on the table. It effectively raised the taxes on everyone except the rich and raises the medicare and SS benefits to 67years old. |
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China can't 'call in their debt'. It doesn't work that way.
China, and every other creditor for the government, buys treasury notes, bills, and bonds. These are contractual agreements that say 'You give us $100, and we'll give you $2/year for 30 years, and then give you your $100 back'. It's not a debt where you can just say 'I want my $100 back, now'. |
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For the last couple of years, it has been the 1%. The 1% are evil. They steal money from the poor. They fire workers while taking huge bonuses. They are paying less taxes than school teachers. All of a sudden, it's the 2%. Now we need to raise taxes on the 2%. It is costing us money to give them these tax breaks. I'm not really sure when we changed from 1% to 2%, but I think most of us know exactly where this is heading. So, when do you think we will be talking about the 10%? I'm thinking the next D president will start that talk, maybe in 6 years or so. Everyone know whats Happens after 2%... SKIM MILK!!!! WE ARE DOOMED! WHOLE MILK!!!!!!!!!!!!!!!!!!!!!!!! Whole milk is the best... good for babies brains. Maybe if more kids grow up on fatty milk they'll have a brain when they get to voting age! |
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The numbers seem to vary depending upon which report you read, but it seems like 8% is the common number being used for the amount of our debt that China holds. While that is alot of money I find it odd that any time discussion of our national debt comes up people talk as if China holds nearly all of it. What would happen if they wanted their money and we said sorry we don't have it better luck next time? I'm not saying this is or isn't what we should do, but more interested in possible scenerios that may play out if people were to call in their debt and we simply didn't pay. On the opposite end of the spectrum what if we just printed them up the 4.5 trillion or what ever it is we owe them and say here you go freshly printed just for you? Of course we would have inflation, but what would they do? The way our government handles current debt affects how easily it can obtain debt in the future. Since all debt is simply circulating, between 1-30 years, it's very important for us not to burn bridges unless we want forced austerity or double-digit interest rates. |
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Quoted: Quoted: We aren't going to make it another 6 years. Eh, I think we will. We can service the debt we have for a while yet, especially if the rest of the world keeps doing poorly as well. We've had more debt than this before compared to the size of our economy, but we won't last much longer without extending the 'hate the rich' mentality further than $250,000 / year and up. The debt is a small problem compared to the unfunded Federal liabilities. I have heard numbers that they are from 60 to 120 trillion dollars. That is what is going to do us in. |
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China can't 'call in their debt'. It doesn't work that way. China, and every other creditor for the government, buys treasury notes, bills, and bonds. These are contractual agreements that say 'You give us $100, and we'll give you $2/year for 30 years, and then give you your $100 back'. It's not a debt where you can just say 'I want my $100 back, now'. You sound like you know what you're talking about so I'll ask you. The 16 trillion and change we tout as the national debt....Who do we owe that money to? |
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We aren't going to make it another 6 years. Eh, I think we will. We can service the debt we have for a while yet, especially if the rest of the world keeps doing poorly as well. We've had more debt than this before compared to the size of our economy, but we won't last much longer without extending the 'hate the rich' mentality further than $250,000 / year and up. The debt is a small problem compared to the unfunded Federal liabilities. I have heard numbers that they are from 60 to 120 trillion dollars. That is what is going to do us in. That won't do us in quickly either, because it's $90 trillion over the next 75+ years. All of the unfunded liabilities, we could fix. Just tying those benefits to life-expectancy would fix much/most of the problem. |
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Taxing the rich is a joke in the grand scheme of things;
CBO: Letting upper-income tax cuts expire would barely hurt economy Letting the high-income Bush tax cuts lapse, for example, generates $42 billion in 2013 but hardly hurts GDP at all.
The US Government is spending 10.5 Billion per day so the increased taxes on the rich won't even run the government 4 days let alone touch the deficit, how they are being portrayed as critical to keep us going off the fiscal cliff is total BS! The taxes are wanted for one reason and one reason only, wealth redistribution! |
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China can't 'call in their debt'. It doesn't work that way. China, and every other creditor for the government, buys treasury notes, bills, and bonds. These are contractual agreements that say 'You give us $100, and we'll give you $2/year for 30 years, and then give you your $100 back'. It's not a debt where you can just say 'I want my $100 back, now'. You sound like you know what you're talking about so I'll ask you. The 16 trillion and change we tout as the national debt....Who do we owe that money to? 
It's actually sickening who we 'borrow' money from. Social Security, Medicare, government pensions, private pensions, insurance companies, state and local governments, banks and savings accounts, and foreign countries/investors. Much less is owned by China or other countries than people think. The lion's share is actually owed to Social Security, Medicare, and other government trusts and pensions. |
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The numbers seem to vary depending upon which report you read, but it seems like 8% is the common number being used for the amount of our debt that China holds. While that is alot of money I find it odd that any time discussion of our national debt comes up people talk as if China holds nearly all of it. What would happen if they wanted their money and we said sorry we don't have it better luck next time? I'm not saying this is or isn't what we should do, but more interested in possible scenerios that may play out if people were to call in their debt and we simply didn't pay. On the opposite end of the spectrum what if we just printed them up the 4.5 trillion or what ever it is we owe them and say here you go freshly printed just for you? Of course we would have inflation, but what would they do? The way our government handles current debt affects how easily it can obtain debt in the future. Since all debt is simply circulating, between 1-30 years, it's very important for us not to burn bridges unless we want forced austerity or double-digit interest rates. Good info I never thought of it that way. So basically they are much like us we rely upon having a good credit rating just in case we need to borrow in the future? Also I have caught a little mention of it here or there, but do you know anything about having to refinance a large part of our debt in the near future? I've also heard things like if interest rates go up at all here we would be screwed any explanation on this? |
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The numbers seem to vary depending upon which report you read, but it seems like 8% is the common number being used for the amount of our debt that China holds. While that is alot of money I find it odd that any time discussion of our national debt comes up people talk as if China holds nearly all of it. What would happen if they wanted their money and we said sorry we don't have it better luck next time? I'm not saying this is or isn't what we should do, but more interested in possible scenerios that may play out if people were to call in their debt and we simply didn't pay. On the opposite end of the spectrum what if we just printed them up the 4.5 trillion or what ever it is we owe them and say here you go freshly printed just for you? Of course we would have inflation, but what would they do? The way our government handles current debt affects how easily it can obtain debt in the future. Since all debt is simply circulating, between 1-30 years, it's very important for us not to burn bridges unless we want forced austerity or double-digit interest rates. Good info I never thought of it that way. So basically they are much like us we rely upon having a good credit rating just in case we need to borrow in the future? Also I have caught a little mention of it here or there, but do you know anything about having to refinance a large part of our debt in the near future? I've also heard things like if interest rates go up at all here we would be screwed any explanation on this? We are constantly refinancing our debt. Our debt is purchased for 1-30 year terms. We pay interest the entire time it is held, then pay off the balance at the end of the term. We are constantly paying off old debts with new debts. If interest rates go up, then we will see our interest payments rise. Not instantly, but slowly over 5, 15, and 30 years. Now, interest is set by supply/demand. It doesn't automatically go up because of Quantitative Easing, printing money, etc etc etc. It goes up based on the risk appetite of investors. If everyone decided that US debt were as risky as the markets, and the markets were currently averaging 6% return annually, then we would have to offer 6% interest to attract people. Luckily, we are still considered a very good investment, and will continue to be considered a good investment until something drastic happens. With the rate things are going, we could see interest rates stay low for another decade or two... it depends not only on what the environment is in the US, but the global economy. |
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The numbers seem to vary depending upon which report you read, but it seems like 8% is the common number being used for the amount of our debt that China holds. While that is alot of money I find it odd that any time discussion of our national debt comes up people talk as if China holds nearly all of it. What would happen if they wanted their money and we said sorry we don't have it better luck next time? I'm not saying this is or isn't what we should do, but more interested in possible scenerios that may play out if people were to call in their debt and we simply didn't pay. On the opposite end of the spectrum what if we just printed them up the 4.5 trillion or what ever it is we owe them and say here you go freshly printed just for you? Of course we would have inflation, but what would they do? The way our government handles current debt affects how easily it can obtain debt in the future. Since all debt is simply circulating, between 1-30 years, it's very important for us not to burn bridges unless we want forced austerity or double-digit interest rates. Good info I never thought of it that way. So basically they are much like us we rely upon having a good credit rating just in case we need to borrow in the future? Also I have caught a little mention of it here or there, but do you know anything about having to refinance a large part of our debt in the near future? I've also heard things like if interest rates go up at all here we would be screwed any explanation on this? We are constantly refinancing our debt. Our debt is purchased for 1-30 year terms. We pay interest the entire time it is held, then pay off the balance at the end of the term. We are constantly paying off old debts with new debts. If interest rates go up, then we will see our interest payments rise. Not instantly, but slowly over 5, 15, and 30 years. Now, interest is set by supply/demand. It doesn't automatically go up because of Quantitative Easing, printing money, etc etc etc. It goes up based on the risk appetite of investors. If everyone decided that US debt were as risky as the markets, and the markets were currently averaging 6% return annually, then we would have to offer 6% interest to attract people. Luckily, we are still considered a very good investment, and will continue to be considered a good investment until something drastic happens. With the rate things are going, we could see interest rates stay low for another decade or two... it depends not only on what the environment is in the US, but the global economy. Ok, thanks...I must listen to too many tinfoil types...lol. I had heard for some reason or another a large amount of our debt would need to be refinanced near the end of 2013 and that it would have to be at a much higher rate. I gets hard to tell what is real and what is fearmongering anymore. |
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Quoted: Quoted: Quoted: Quoted: We aren't going to make it another 6 years. Eh, I think we will. We can service the debt we have for a while yet, especially if the rest of the world keeps doing poorly as well. We've had more debt than this before compared to the size of our economy, but we won't last much longer without extending the 'hate the rich' mentality further than $250,000 / year and up. The debt is a small problem compared to the unfunded Federal liabilities. I have heard numbers that they are from 60 to 120 trillion dollars. That is what is going to do us in. That won't do us in quickly either, because it's $90 trillion over the next 75+ years. All of the unfunded liabilities, we could fix. Just tying those benefits to life-expectancy would fix much/most of the problem. That is over 1 trillion a year. They can't even balance a budget right now, add 1 trillion + a year to it. You seem like a logical person, but this is far from trivial. it will be right in our faces in 5 years. |
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Ok, thanks...I must listen to too many tinfoil types...lol. I had heard for some reason or another a large amount of our debt would need to be refinanced near the end of 2013 and that it would have to be at a much higher rate. I gets hard to tell what is real and what is fearmongering anymore. There is never an end to the doom and gloom, lol. The treasury puts out reports that actually show how much of every type of note, bill, and bond they have out, when they expire, and what interest rates they were at. You can purchase them yourself and see the same kind of agreement and process that China sees. If I won the powerball, I would put at least 50% in various government bonds(various governments too)... there is nothing safer for an investment. Honestly, if we end up completely crashing, it's not going to be before we hit 200% debt as % of GDP. We have a lot more time(IMO) than a lot of other people think. |
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We aren't going to make it another 6 years. Eh, I think we will. We can service the debt we have for a while yet, especially if the rest of the world keeps doing poorly as well. We've had more debt than this before compared to the size of our economy, but we won't last much longer without extending the 'hate the rich' mentality further than $250,000 / year and up. The debt is a small problem compared to the unfunded Federal liabilities. I have heard numbers that they are from 60 to 120 trillion dollars. That is what is going to do us in. That won't do us in quickly either, because it's $90 trillion over the next 75+ years. All of the unfunded liabilities, we could fix. Just tying those benefits to life-expectancy would fix much/most of the problem. That is over 1 trillion a year. They can't even balance a budget right now, add 1 trillion + a year to it. You seem like a logical person, but this is far from trivial. it will be right in our faces in 5 years. It's not $1 trillion a year though. It's not a straight line. It was $49 billion last year. We have time to fix it. |
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We aren't going to make it another 6 years. Eh, I think we will. We can service the debt we have for a while yet, especially if the rest of the world keeps doing poorly as well. We've had more debt than this before compared to the size of our economy, but we won't last much longer without extending the 'hate the rich' mentality further than $250,000 / year and up. I doubt it. If people realize the bond market is a ponzi sheme and investors are getting paid back in borrowed money or money we ran off a printing press, interest rates will rise. When interest rates rise, that will balloon the deficit and hasten our collapse. Yes, we did have more debt before, but that was back when we were still a manufacturing powerhouse. Now we have more government jobs then manufacturing jobs. |