Kids are spoiled now adays

Dammy

Dammy

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http://www.politico.com/news/stories/0212/73260.html

Back in my days, $1.3T dollars in credit would last four, maybe six years if you did the math correctly. Now adays, it might last 12 months. Hope those college kids are going to get huge paying jobs, their taxes are about to go through the roof while they live in austerity.
 
Really this is the first generation of Grandparents where most met their Grandkids and rewarded them by spending the kids money before they were born.
 
People don't understand exponential functions. That's all.
Besides, the money is fake and the debt is even more fake. It's just, if we faced up to the fact that the debt is fake then 99.99% of the people on the planet would suddenly become free and the 0.01% who milk them would have to work for a living instead.
 
The only reason debt is fake is because we stopped breaking real bones when it came time to collect. Blame the lawyers for that one!
 
Glaucus said:
The only reason debt is fake is because we stopped breaking real bones when it came time to collect. Blame the lawyers for that one!
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:)
but no.
The reason the debt is fake is because of interest which creates new debt all the time. If I borrow a cup of sugar in real life and give you back a cup of sugar then the debt is dismissed. If you are going to charge interest then depending on the formula the "debt" can equal more sugar than exists in pretty short order and that is clearly divorced from reality.
 
FluffyMcDeath said:
:)
but no.
The reason the debt is fake is because of interest which creates new debt all the time. If I borrow a cup of sugar in real life and give you back a cup of sugar then the debt is dismissed. If you are going to charge interest then depending on the formula the "debt" can equal more sugar than exists in pretty short order and that is clearly divorced from reality.
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So there is no difference between borrowing a cup of sugar today and returning it tomorrow, or returning it 10 years from now??

In that case I would like to borrow a cup of sugar from you every day for the next 10 years ...
 
metalman said:
So there is no difference between borrowing a cup of sugar today and returning it tomorrow, or returning it 10 years from now??
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The difference is just short of 10 years. Other than the time separating the events a cup of sugar equals a cup of sugar.

In that case I would like to borrow a cup of sugar from you every day for the next 10 years ...
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I shall have to decline since it behoves me to do due diligence and since I cannot afford to lend you so much sugar and I don't believe that you will be able to repay me the full quantity nor would I have such use for such a sudden influx of sugar - etc... Now, if I was a bank and could create money out of nothing ( a trick not possible with sugar) with which you could buy things of real value, which I could then acquire from you under force of law even if you paid me back almost every last dollar before you missed a payment - well, I'd be tempted.
 
faethor said:
Really this is the first generation of Grandparents where most met their Grandkids and rewarded them by spending the kids money before they were born.
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Don't blame the grand parents, blame the politicians. I know what you are saying, but I'd rather stay focused.
 
FluffyMcDeath said:
People don't understand exponential functions. That's all.
Besides, the money is fake and the debt is even more fake. It's just, if we faced up to the fact that the debt is fake then 99.99% of the people on the planet would suddenly become free and the 0.01% who milk them would have to work for a living instead.
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The opposite is going to happen when the system comes plunging downwards. 99.99% have been told over and over again that fiat currency is the only way to survive in the world (their elected officials tell them this) and have little to nothing that is worth anything that is owned outright. They were also told having hard physical assets is unrealistic and just plain crazy talk and placed further social scorn on those who tried to warn others to begin to prepare for the day it all comes tumbling down.

The 00.01% are the ones who are going to push this economic and currency cataclysm to happen. They are prepared for it, they have staged it, and they will benefit from it. When the dust settles and the politicians can't do squat, that very 00.01% will offer the 99.99%ers to be everyone savior, they will offer a electronic currency that is back by gold/silver and will be stable as governments will not be able to manipulate it. Then the payback of all those trillions and trillions of dollars plus interest will begin.
 
FluffyMcDeath said:
. Now, if I was a bank and could create money out of nothing ( a trick not possible with sugar) with which you could buy things of real value, which I could then acquire from you under force of law even if you paid me back almost every last dollar before you missed a payment - well, I'd be tempted.
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Sure you can produce sugar out of nothing, naked short selling. Goldman Sachs will be glad to give you a few pointers, they are experts at this.
 
Dammy said:
Sure you can produce sugar out of nothing, naked short selling. Goldman Sachs will be glad to give you a few pointers, they are experts at this.
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Sure - paper sugar - but that won't sweeten anything (but Goldman Sachs bottom line).
 
When kids are born 40K in debt its clearly the parents and grandparents who are spoiled and selfish.
 
When kids are born 40K in debt its clearly the parents and grandparents who are spoiled and selfish.
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Hell, it's getting to the point that's just the hospital bill for them being born, since the mandated health care isn't forced to cover anything useful. :P
 
ilwrath said:
Hell, it's getting to the point that's just the hospital bill for them being born, since the mandated health care isn't forced to cover anything useful. :p
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what about CONTRACEPTIVES! ;)
 
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