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Economy

jtuck004

(15,882 posts)

20. Yep, goods and services much more modern. Better go round up some goats

Reply to mbperrin (Reply #19)

Sun Jan 22, 2012, 06:11 AM

Jan 2012

to trade so I can pick up a few things at the store.

ltr

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Debt Is (Mostly) Money We Owe to Ourselves [View all] phantom power Dec 2011 OP

Well, correct me if I'm wrong, but Tansy_Gold Dec 2011 #1

I own not one dime of government securities, which is how we finance the national debt. mbperrin Dec 2011 #2

Well, that's pretty much what I meant Tansy_Gold Dec 2011 #3

You've said it well, and flawlessly. mbperrin Dec 2011 #4

The Federal Government does not have to obtain money (American dollars) from any one. Sam1 Jan 2012 #6

Please cite the economist and formula that shows that government debt creates savings in the private mbperrin Jan 2012 #10

You have a degree in economics and have never heard (or studied) the chartalist perspective? jtuck004 Jan 2012 #18

I see now. It's the rather old fashioned notion that money is meant to be a store of value. mbperrin Jan 2012 #19

Yep, goods and services much more modern. Better go round up some goats jtuck004 Jan 2012 #20

Didn't read a word, did you? The money is a CLAIM for goods and services. mbperrin Jan 2012 #21

What really has value is human potential, not goods and services, and not jtuck004 Jan 2012 #22

I posted this in response to someone else. JDPriestly Jan 2012 #9

This is a little different because Tansy_Gold Jan 2012 #12

Money from the Social Security Trust Fund which was created because JDPriestly Jan 2012 #14

Exactly. And furthermore, Tansy_Gold Jan 2012 #15

So, if you can afford it, invest for yourself also. JDPriestly Jan 2012 #16

If you have paid your payroll taxes -- your Social Security taxes -- your old-aged JDPriestly Jan 2012 #8

I pay the Teacher Retirement System of Texas. mbperrin Jan 2012 #11

Repudiate the national debt and let the chips fall where they may. Or Blue Hen Buckeye Jan 2012 #5

I wonder what portion of the debt is owed to the Social Security Trust Fund. JDPriestly Jan 2012 #7

About 27-30% from memory dmallind Jan 2012 #13

SSA Trust fund = $2.6 trillion - total debt now over $15 trillion banned from Kos Jan 2012 #17

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