Well now that the Leftists won in Greece lets see how yalls Utopia pans out

[Jewish Lawyer]

Originally Posted by WTF

http://www.theguardian.com/global-de...-debt-eurozone


Of the lessons from Latin America's experience, two stuck in my mind. First, when a debt crisis hits, the debt needs to be cut rapidly. The continually failing system to deal with debt crises – bailout loans and austerity – is a tool to protect the lenders, and shift all the burden onto debtor governments and their people. Several speakers suggested a debt restructuring mechanism is needed for governments, effectively a bankruptcy procedure for states, to make it easier for countries to default, reduce their debts, share the costs, and bring early recovery.

Second, debt crises come from foreign lending and borrowing in the "good times", whether by private companies, public sector, or both. Preventing financial crises requires far less lending and debt between countries. Griffith-Jones pointed out that after the second world war the banks and financial sector were controlled by a global system of regulations, and there were hardly any debt crises until the system was broken up in the 1970s.

Supported by a contractor who fucks over the banks he can't repay, and fucks over the American workers he refuses to pay a decent wage to because he exploits illegal immigrants on his likely unsafe jobsites where he builds shitty houses!!!

[WTF]

Originally Posted by Jewish Lawyer

Supported by a contractor who fucks over the banks he can't repay, and fucks over the American workers he refuses to pay a decent wage to because he exploits illegal immigrants on his likely unsafe jobsites where he builds shitty houses!!!

Please name one loan I have not repaid in full? In fact I self finance any project I do. So....

I do not have a payroll...so it would be hard for me to fuck over employees I do not employ.

The City of Houston has never given a unsafe ticket to any project I have been associated with.

Not to many folks I know would pay millions for a shitty house.

Now would you like to contribute something constructive to this thread or would you like to continue to lie. Lying is probably why you haven't been admitted to The Conference Room....that and you fuck Asian sex slaves.

[WTF]

Originally Posted by boardman

It's not the major driver. Actually it's 3rd in line on a federal level.

Health care and pensions are both a larger chunk of the budget than defense.

We spend nearly half as much on welfare as we do on defense spending. That's the 4th major driver behind defense.

Servicing the debt costs us about a third of what we spend on defense. 5th major driver.


http://www.usgovernmentspending.com/us_budget_pie_chart

Here is something that may be a tad more accurate when it comes to Federal Spending...
http://www.warresisters.org/federalpiechart

[boardman]

Originally Posted by WTF

Here is something that may be a tad more accurate when it comes to Federal Spending...
http://www.warresisters.org/federalpiechart

That's a pretty good article.
It obviously has some admitted bias but they own it and make an reasonable attempt to account for that.

You previously mentioned that SS has been paid for. That's simply not true. It is an unfunded liability. We are operating under the assumption that those revenue streams will remain in place but there is no guarantee.

[Jewish Lawyer]

Originally Posted by WTF

Please name one loan I have not repaid in full? [sic] In fact [sic] I self finance any project I do. So....

[Please show proof.]

I do not have a payroll...so it would be hard for me to fuck over employees I do not employ.

[I don't believe you.]

The City of Houston has never given a [sic] unsafe ticket to any project I have been associated with.

[Ever heard of OSHA?]

Not to [sic] many folks I know would pay millions for a shitty house.

[People do it all the time - send me your customer list and I'll point some of them out to you.]

Now would you like to contribute something constructive to this thread or would you like to continue to lie.[sic] Lying is probably why you haven't been admitted to The Conference Room....that and you fuck Asians.

LOL

[WTF]

Originally Posted by boardman

That's a pretty good article.
It obviously has some admitted bias but they own it and make an reasonable attempt to account for that.

You previously mentioned that SS has been paid for. That's simply not true. It is an unfunded liability. We are operating under the assumption that those revenue streams will remain in place but there is no guarantee.

SS has not had to borrow money. Can you say that about military spending?

Eventually we will be just like the Greeks, having to cut Social services to pay down in our case, military induced debt.

Not sure wtf you mean about SS being a unfunded liability? It has it's own revenue stream....If that revenue stream is shut down then there will be a huge problem if our GDP goes to zero! Will SS and Medicare need to be tweaked occasionally? Yes of course. But the biggest challenge is to try and make folks understand is that military spending is the biggest driver of Federal DEBT.

[WTF]

Originally Posted by Jewish Lawyer

LOL

That is your most honest post to date...

[Jewish Lawyer]

Originally Posted by WTF

SS has not had to borrow money. Can you say that about military spending?

Eventually we will be just like the Greeks, having to cut Social services to pay down in our case, military induced debt.

Not sure wtf you mean about SS being a unfunded liability? It has it's own revenue stream....If that revenue stream is shut down then there will be a huge problem if our GDP goes to zero! Will SS and Medicare need to be tweaked occasionally? Yes of course. But the biggest challenge is to try and make folks understand is that military spending is the biggest driver of Federal DEBT.

The debt is denominated in dollars. Your gummint prints dollars. What's the problem?
China has the problem, because you people owe those people trillions of dollars for the crappy shit they have sold you over the years. If they demand payment, create some more federal reserve notes and electronically send them to them. Try not to laugh.
Why do you think I haven't given up my US citizenship? Your fucking government makes people pay to leave, sorta like the poor bastards from East Germany had to be held in by a wall and armed guards. But, why give it up? Just collect social security - they deposit it right in your bank account!!
The United States Government has created more fiat money than anyone in history!! I think you probably drive the dutiful and conservative Swiss crazy every time you create more of the shit.

[lustylad]

Originally Posted by WTF

Not sure wtf you mean about SS being a unfunded liability?

Wow! How can anyone take fagboy seriously? He constantly pops off about SS yet admits he doesn't even have a clue what an unfunded liability is??? Fucking unbelievable! Like someone claiming to be a lawyer and not knowing what precedent is. Or a "doctor" not knowing what the Hippocratic oath is. Or an auto "expert" not knowing what horsepower is.

Fagboy, you need to STFU on Social Security until you learn the basics of actuarial accounting. If you read in the paper that the Houston police retirement fund is "underfunded by 25%" or "underfunded by $__ billion" - do you understand where the numbers come from? Learn what actuaries do. Play around with NPV, discount rates, return assumptions, life expectancy and annuity tables, and your favorite - the time value of money!! In the meantime, quit hijacking threads with claptrap on SS. You just admitted you don't know enough to speak intelligently on the topic.

Is this thread about SS or Greece?

.

[lustylad]

Originally Posted by Jewish Lawyer

The United States Government has created more fiat money than anyone in history!! I think you probably drive the dutiful and conservative Swiss crazy every time you create more of the shit.

Actually our profligacy spills over on everyone including the "dutiful and conservative Swiss". All those dollar and Euro holders out there keep dumping dollars and Euros to buy Swiss francs. Where do you think all those Swiss francs come from? The Swiss Central Bank has to create them to meet all the demand. So the Swiss have created even more fiat money (as a % of their GDP) than we have! It got so bad last week the Central Bank finally threw in the towel, abandoning its exchange rate pegs and letting the SFr shoot up in value!

As for the Greeks, they need a currency devaluation (not an upward revaluation like the SFr) but they can't do it without leaving the Euro (which would be very messy).

[WTF]

Originally Posted by lustylad

Wow! How can anyone take fagboy seriously? He constantly pops off about SS yet admits he doesn't even have a clue what an unfunded liability is??? Fucking unbelievable! Like someone claiming to be a lawyer and not knowing what precedent is. Or a "doctor" not knowing what the Hippocratic oath is. Or an auto "expert" not knowing what horsepower is.

Fagboy, you need to STFU on Social Security until you learn the basics of actuarial accounting. If you read in the paper that the Houston police retirement fund is "underfunded by 25%" or "underfunded by $__ billion" - do you understand where the numbers come from? Learn what actuaries do. Play around with NPV, discount rates, return assumptions, life expectancy and annuity tables, and your favorite - the time value of money!! In the meantime, quit hijacking threads with claptrap on SS. You just admitted you don't know enough to speak intelligently on the topic.

Is this thread about SS or Greece?

.

This thread is about SS fucking you up the ass...


Below is actually wtf I said to add context you lying Hillbilly , which is a far cry from that snippet you cherry picked.

Originally Posted by WTF

SS has not had to borrow money. Can you say that about military spending?

Eventually we will be just like the Greeks, having to cut Social services to pay down in our case, military induced debt.

Not sure wtf you mean about SS being a unfunded liability? It has it's own revenue stream....If that revenue stream is shut down then there will be a huge problem if our GDP goes to zero! Will SS and Medicare need to be tweaked occasionally? Yes of course. But the biggest challenge is to try and make folks understand is that military spending is the biggest driver of Federal DEBT.

[lustylad]

Originally Posted by WTF

This thread is about SS fucking you up the ass...

Below is actually wtf I said to add context you lying Hillbilly, which is a far cry from that snippet you cherry picked.

You look even dumber when your post is read in "context". The mere fact that we pay taxes into SS doesn't mean the program is not under-funded by trillions of dollars. Since you know nothing about actuarial accounting you should confine your "tweaking" to your tranny boyfriends' genitalia.

[WTF]

Originally Posted by lustylad

You look even dumber when your post is read in "context". The mere fact that we pay taxes into SS doesn't mean the program is not under-funded by trillions of dollars. Since you know nothing about actuarial accounting you should confine your "tweaking" to your tranny boyfriends' genitalia.

lustybitch...I questioned boardman's use of the word unfunded. You are now saying underfunded. You do know the difference in those two words? Or do you? It seems to be confusing you.

Here is a helpful hint...SS has so many moving parts that it does require tweaking from time to time. Say medical costs are higher/lower than projected, life expediency lowers/rises. Dumb fucks like you seem to think you can plug in numbers and ten - twenty years out those numbers are still spot on. But my real point to boardman was the accounting trick of hiding say the real Budget deficit mainly caused by military spending is coming to a end now that the SS outlays are going to start exceeding the influx and that is when we will have to make hard choices...much like the Greeks.

So soon enough you will get to engage in your favorite activity by having SS fuck you in the ass because politicians will not raise taxes to pay for excessive military spending. They will raise SS taxes to make to books look better. Just exactly what Reagan did.

Originally Posted by boardman

That's a pretty good article.
You previously mentioned that SS has been paid for. That's simply not true. It is an unfunded liability. We are operating under the assumption that those revenue streams will remain in place but there is no guarantee.

[lustylad]

Originally Posted by WTF

lustybitch...I questioned boardman's use of the word unfunded. You are now saying underfunded. You do know the difference in those two words? Or do you? It seems to be confusing you.

No confusion, fagboy. You are desperately parsing words to avoid admitting your ignorance. If SS is under-funded by 50%, it means half of its future liability is fully funded and the other half is unfunded. Does that make it clearer for you? Study up on actuarial accounting if you hope to be taken seriously.

[lustylad]

Originally Posted by WTF

...SS has so many moving parts that it does require tweaking from time to time. Say medical costs are higher/lower than projected, life expediency lowers/rises. Dumb fucks like you seem to think you can plug in numbers and ten - twenty years out those numbers are still spot on...

You really should stop now because you look stupider with every post... Medical costs have nothing to do with SS. What is life "expediency"? And if you understood anything about SS you would know that its Board of Trustees releases an annual status report ("annual" means every year) with updated actuarial assumptions - you are the dumbfuck who thinks they stick with the same numbers for "ten - twenty years out"... Again, study up on actuarial accounting if you want to have any credibility here.