Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 TRILL

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cc27
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Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 TRILL

Unread post by cc27 »

Too much debt should be the theme song for the US! Both for consumers and the Feral government (not a typo!)

Consumer credit increased by +$6.403 billion in April, much softer than consensus estimate of +$10 billion … more notable, however, was March data, given initial read of +$6.274 billion was revised down to -$1.099 billion.

https://confoundedinterest.net/2024/06/ ... -trillion/
Lefty on this very board say everything is fine and we can just print money
Zathras23
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Zathras23 »

I have to wonder just how much of that consumer debt is due to people needing to use credit cards just to survive with inflation raising prices across the board.
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Valishin »

Zathras23 wrote: June 11th, 2024, 9:58 am I have to wonder just how much of that consumer debt is due to people needing to use credit cards just to survive with inflation raising prices across the board.
Two things that would greatly help the economic strains in the US. Do away with credit cards to purchase any item that is less than $1000 and force citizens to pay the government their monthly tax dues after seeing the money go into their personal account.
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Vercingetorix
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Vercingetorix »

Valishin wrote: June 11th, 2024, 8:31 pm Two things that would greatly help the economic strains in the US. Do away with credit cards to purchase any item that is less than $1000 and force citizens to pay the government their monthly tax dues after seeing the money go into their personal account.
Or.....instead of using abject force. Get the government to spend a LOT less money. Stop using latgess on the people

This will reduce inflationary pressure ans cause less credit spending
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Valishin »

Vercingetorix wrote: June 11th, 2024, 10:38 pm Or.....instead of using abject force. Get the government to spend a LOT less money. Stop using latgess on the people

This will reduce inflationary pressure ans cause less credit spending
And the fastest way to do that is to get the people paying taxes to do as an active requirement instead of as a passive one. The passive process obfuscates government impact on individuals. We talk about "tax freedom day" but most citizens don't take the concept seriously because to them that money doesn't exist.
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Janet »

The Cloward-Piven Strategy To Collapse America:

Healthcare– Control healthcare and you control the people. HAPPENING NOW
Poverty – Increase the Poverty level as high as possible, poor people are easier to control and will not fight back if you are providing everything for them to live. HAPPENING NOW
Debt – Increase the debt to an unsustainable level. That way you are able to increase taxes, and this will produce more poverty. HAPPENING NOW
Gun Control – Remove the ability to defend themselves from the Government. That way you are able to create a police state. HAPPENING NOW
Welfare – Take control of every aspect of their lives. (Food, Housing, and Income) HAPPENING NOW
Education – Take control of what people read and listen to us“ take control of what children learn in school. ALREADY DONE
Religion – Remove the belief in the God from the Government and schools. ALREADY DONE
Class Warfare – Divide the people into the wealthy and the poor. This will cause more discontent and it will be easier to take (Tax) the wealthy with the support of the poor. HAPPENING NOW

https://prepareforchange.net/2020/04/06 ... s-economy/

Obama's stink is all over this and the way he controls President Vegetable.
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Baron »

Janet wrote: June 12th, 2024, 2:36 pm Gun Control – Remove the ability to defend themselves from the Government. That way you are able to create a police state. HAPPENING NOW
Janet,

Not so much. There has been very little "progress" on gun control" for the last few years, thanks mostly to the NRA.

Take care,
Baron
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Vercingetorix »

Valishin wrote: June 12th, 2024, 1:59 pm And the fastest way to do that is to get the people paying taxes to do as an active requirement instead of as a passive one.
Of course....that is if taxes are necessary. Im not so sure.
The passive process obfuscates government impact on individuals. We talk about "tax freedom day" but most citizens don't take the concept seriously because to them that money doesn't exist.
Indeed, they are used to being robbed bi-weekly.
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Valishin »

Vercingetorix wrote: June 12th, 2024, 4:04 pm Of course....that is if taxes are necessary. Im not so sure.



Indeed, they are used to being robbed bi-weekly.
I don't see how you get by without some form of taxation but it should be about 10% of what it is currently or perhaps less. And of course spending should be brought down to match that level.
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Vercingetorix »

Valishin wrote: June 12th, 2024, 5:52 pm I don't see how you get by without some form of taxation but it should be about 10% of what it is currently or perhaps less. And of course spending should be brought down to match that level.
We lived without Income tax until 1914...and boe even now it is never enough.
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Re: Too Much Debt! US Government And Consumers Are Debt Crazed (US Debt Hits $34.8 TRILLION, Consumer Debt Hits $17.69 T

Unread post by Valishin »

Vercingetorix wrote: June 12th, 2024, 7:02 pm We lived without Income tax until 1914...and boe even now it is never enough.
Terriffs alone might only get you so far today in today's global market. There are too many alternatives. I'm a fan of the idea but just not sure its viable today even if spending was limited to what the Constitution allows. Of course should the tax be based on income perhaps not, I'm not a fan of that either but even less so on wealth. What is critical is that any tax even if it were necessary not be redistribution method.
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