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Sorry if I missed it, but I don't think you actually said anything factual; you
only disparaged my knowledge on the basis of a snappy email, which is a rash
judgment of character.
Also, you seem to take every opportunity to change the subject, which was
ownership of the debt, answered thoroughly by Gitanshu Bush.
(Kohath, if you wish to provide any facts for discussion, I am all eyes;
otherwise, my delete key is at the ready.)
I do have a question about one paragraph of Gitanshu's reply:
If the balance sheet of the USA was presented to any banker that just stuck to
government
appointed rules and capital adequacy norms of lending applicable to corporate
loans or
private individual loans, the banker would not loan the US Government any money
in this state
of affairs.
I can think of two questions: since the govt can print its own money, aren't the
normal credit analyses meaningless? and doesn't this sound a lot like the
internet stock mergers, where one billion $ company making losses 'prints' more
stock to take over another billion $ company making losses?
Regards
DanG
kohath wrote:
> I would submit, Dan, that the Government would have Vasts amount of monies
> available for all the items you mention at a Maximum flat tax rate of 3%,
> and could probably, if given enough Honest individuals, get by just fine on
> 1%. The tax rate 40 years ago was at 3%, for your information. You do not
> know the Real story about debt, money, etc, you are only reflecting what you
> have been taught to believe, without looking into the reality of the
> situation and investigating for yourself! Any ten year old, taught even the
> most basic accounting principles, would agree that the accounting situation
> you have presented is baseless on fact. The only reason you "Buy It" is
> because you have been taught to believe that the debt is far to complicated
> for the average American to understand. I have been in debt several times,
> and I'll guarantee you there was not once I went into debt that I did not
> know whom I owed the money to, how much the payment was, what, if any
> pre-payment penalties were involved, and how many payments I needed to make
> to pay the debt off. Can you say the same about the "national debt"? Do
> you know. Does anyone who is supposedly managing this debt know. No!
>
> Kohath
>
> ----- Original Message -----
> From: TheGonch at MediaKat <Daniel.Goncharoff@xxxxxxxxxxxxxxxxxxxx>
> To: kohath <kohath@xxxxxxxxxxxxx>
> Cc: Ira <ist@xxxxxx>
> Sent: Thursday, July 29, 1999 1:10 PM
> Subject: Re: economy - Debt - or is it really?
>
> > Ah, now I see, you did read my message, but you forgot your own question,
> > which was who has all this debt, and gets the interest...
> >
> > The question of where your tax $ goes is a bit complex for a
> > 'shot-from-the-hip' email. But think about roads, weapons and ammunition,
> and
> > salaries of government workers (oh, wait, that means some of us again! and
> the
> > weapons are made by employees, so they are some of us! and some of us own
> the
> > companies that make the roads and the planes and the bombs! there's more
> of
> > us!)
> >
> > Hope this helps...
> >
> > Regards
> > DanG
> >
> > Regards
> > DanG
> >
> > kohath wrote:
> >
> > > Yes, I did, but lets face it, what you have stated does not make any
> sense
> > > whatsover, given the reality of the situation. Re-read the email I
> sent.
> > > If you don't get it, read it again. Your peculiar accounting situation
> > > would cause any company to go bankrupt, continually paying out massive
> > > amounts of ones income, (60%), with little if any return.
> > >
> > > > Kohath:Any more guesses?
> > > >
> > > > Guesses? What guesses? Do you have a pension plan? Do you have
> > > > insurance? Do you save? Do you own stocks that have cash assets? Do
> > > > these not earn interest on Treasuries?
> > > >
> > > > Did you actually read what I wrote before you responded?
> > > >
> > > > Regards
> > > > DanG
> > > >
> >
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