[Rushtalk] Absolutely!

Stephen Frye stephen.frye at outlook.com
Fri Jul 7 12:46:18 MDT 2017


$135K – wow.  Mortgage debt here is well over $400K.  Homes in our area are now passing the “affordable” point.  Affordable defined as payment is less than total net income.  On the other hand, the train wreck has been predicted for years.  I refuse to live in fear.  My wife and I are fortunate;  we are debt free.  It’s a good feeling, but I am not sure what it buys us.  We have a paid-for house, but we can’t spend it.  We live in a society of instant gratification, and that results in unpayable debt.  We have ads on radio and Tv that boast “don’t let the credit card companies trick you into thinking you have to pay it back.”  Same ads for the IRS.  People go into debt knowing the courts will get them out of it.  Believing they have a “right” to NOT pay what they have spent.  And bragging about it!  I’d like to see that nonsense stopped immediately.

From: rushtalk-bounces at csdco.com [mailto:rushtalk-bounces at csdco.com] On Behalf Of Tom Matiska
Sent: Friday, July 7, 2017 10:38 AM
To: Rushtalk Discussion List <rushtalk at csdco.com>
Subject: Re: [Rushtalk] Absolutely!

Do "we" really live within our means?  Average household credit card debt is $16K.  It is  $135K  including mortgages and such.  My pre capita share of uncle sugar's $19T is "only" another $63K++, but my school district, city, county,sanitation authority, arena authority, etc.... all have debts that add many tens of thousands per person to the picture.

Everywhere I look I see debt, an I'm not sure who it was borrowed from  Few years ago someone reported the Treasury  printed $7.5T more in bonds that the claimed deficit for that year.  The most likely explanation is the a  Fed is buying our own short term debt that is coming due in unmanageable numbers.

Are we actually "borrowing"..... or is it more a case of the Fed Reserve and Treasury colluding to simply print that which can never be repaid?   We have a train wreck coming.     Tom

On Friday, July 7, 2017 2:17 AM, John Quayle <blueoval57 at verizon.net<mailto:blueoval57 at verizon.net>> wrote:

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If We Can They Can: Should Governments Be Forced To Live Within Their Means?<http://e.clashdaily.com/ga/click/2-84495537-37-249533-513114-3534711-0b676d0bd7-1e42768a8d>
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