Comments on: American Debtor Psycho: $49 Trillion in Debt. The Real Reason why the Credit Crisis is Bigger than you Think. http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/ Investing ideas for preserving wealth in a fluctuating market. Tue, 16 Mar 2010 08:10:39 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: Bill http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/comment-page-1/#comment-13407 Bill Thu, 17 Sep 2009 02:26:23 +0000 http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/#comment-13407 Under "Federal Government" you list 5+ trillion. Why do you not count the "future commitments"? The real truth of the matter is that the SS Trust Fund doesn't really exist. It has been spent and in its place are IOUs. To replace that which has been spent, the Govt will have to re-tax in order to provide that which it had already taxed for in the first place. So by what reasoning do you just ignore this? Under “Federal Government” you list 5+ trillion. Why do you not count the “future commitments”? The real truth of the matter is that the SS Trust Fund doesn’t really exist. It has been spent and in its place are IOUs. To replace that which has been spent, the Govt will have to re-tax in order to provide that which it had already taxed for in the first place.

So by what reasoning do you just ignore this?

]]> By: Evan http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/comment-page-1/#comment-8297 Evan Mon, 25 May 2009 09:26:42 +0000 http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/#comment-8297 I notice your little comment on student debt. Having been caught up in that little debt cyclone myself, I wrote a piece about this on my blog. http://planetisrael.blogspot.com/2009/05/student-loan-scam.html This portion of the debt may be relatively small but it will be very difficult to clear as there is no legal way to renegotiate, modify, bankruptcy or otherwise eliminate the debt. I notice your little comment on student debt. Having been caught up in that little debt cyclone myself, I wrote a piece about this on my blog.

http://planetisrael.blogspot.com/2009/05/student-loan-scam.html

This portion of the debt may be relatively small but it will be very difficult to clear as there is no legal way to renegotiate, modify, bankruptcy or otherwise eliminate the debt.

]]> By: Current account http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/comment-page-1/#comment-3308 Current account Thu, 29 Jan 2009 16:53:00 +0000 http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/#comment-3308 If the federal government does not want to pay the benefits that I and my employers paid for my retirement, then give me the money paid in back with accumulated interest at market rates. If I had known that the money taken from me and my employers to "insure" my retirement would ultimately be stolen from me by the government, I would have asked for it back and I could have invested it to protect my retirement. If the federal government does not want to pay the benefits that I and my employers paid for my retirement, then give me the money paid in back with accumulated interest at market rates. If I had known that the money taken from me and my employers to “insure” my retirement would ultimately be stolen from me by the government, I would have asked for it back and I could have invested it to protect my retirement.

]]> By: Dana Visalli http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/comment-page-1/#comment-3287 Dana Visalli Thu, 29 Jan 2009 01:49:42 +0000 http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/#comment-3287 Good job, thanks for the work, hard to believe there is only one comment on this stunning issue. The numbers need updated, here in early 2009. Some explanations could be clearer....I've seen much higher numbers for federal debt and future obligates....J&J says it has 88 billion in assets but I wonder what this means and how realistic it is? Goodbye Caterpiller, somehow I've come to hate that company. Bottom line: these debts will never be repayed. Time to "make other arrangements." Good job, thanks for the work, hard to believe there is only one comment on this stunning issue. The numbers need updated, here in early 2009. Some explanations could be clearer….I’ve seen much higher numbers for federal debt and future obligates….J&J says it has 88 billion in assets but I wonder what this means and how realistic it is? Goodbye Caterpiller, somehow I’ve come to hate that company. Bottom line: these debts will never be repayed. Time to “make other arrangements.”

]]> By: Uncle B http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/comment-page-1/#comment-2265 Uncle B Mon, 20 Oct 2008 18:21:22 +0000 http://www.mybudget360.com/american-debtor-psycho-49-trillion-in-debt-the-real-reason-why-the-credit-crisis-is-bigger-than-you-think/#comment-2265 How much money do we have to print to knock 20% off of this debt through devaluing our dollar and eventually making each one dollar easier to earn? If we look at paying interest only on the debt, with hugely devalued dollars can we get ahead? My logic is: if somebody is dumb enough to lend me money in units I control the value of, after the loan is on paper, and the ink is dry, what is stopping me from deflating the units so deeply, paying the fixed, printed paper debt is child's play? Why does OPEC use "Purchasing Power Parity" to set the price of a Bbl of oil? An emergency meeting of OPEC in a few weeks might reduce the amount of oil they produce, in order to get more money per Bbl. The "money printing spree" of the Bush regime will have the same effect, and is already causing inflation in the U.S.A., domestically. Are we better off printing money to reduce the net effect of debt, and suffering inflation, or must we, the people on the ground always bail out the government, Banks, and Wall Street crooks with food from out tables? Socialism didn't work, the U.S.S.R. collapsed due to money problems, Obviously Capitalism doesn't work without willing slaves, What is left? How much money do we have to print to knock 20% off of this debt through devaluing our dollar and eventually making each one dollar easier to earn? If we look at paying interest only on the debt, with hugely devalued dollars can we get ahead? My logic is: if somebody is dumb enough to lend me money in units I control the value of, after the loan is on paper, and the ink is dry, what is stopping me from deflating the units so deeply, paying the fixed, printed paper debt is child’s play? Why does OPEC use “Purchasing Power Parity” to set the price of a Bbl of oil? An emergency meeting of OPEC in a few weeks might reduce the amount of oil they produce, in order to get more money per Bbl. The “money printing spree” of the Bush regime will have the same effect, and is already causing inflation in the U.S.A., domestically. Are we better off printing money to reduce the net effect of debt, and suffering inflation, or must we, the people on the ground always bail out the government, Banks, and Wall Street crooks with food from out tables? Socialism didn’t work, the U.S.S.R. collapsed due to money problems, Obviously Capitalism doesn’t work without willing slaves, What is left?

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