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  • [<0_0>] <---------

    Yo Yo

    I was just checking out this CNN money article , and I was reading comments and found and interesting one,
    The CNN article was called :

    CBO: $10 trillion jump in debt under Obama budget
    http://money.cnn.com/2010/03/05/news...dget/index.htm

    and this commenter dude had an interesting point that I thought I would share:

    Just for get the whole were spending 10 trillion dollars for a second, if you can and just read this comment and tell me what you think,

    Have a look:


    A trillion dollars. To put this in perspective, if you had bundles of 100 dollar bills... 1 trillion dollars would equate to the height of a man, taking up the area of a football field. That is just 1 trillion.

    A trillion seconds = 32,000 years.

    Now we are talking about deficits anywhere from 8 to 10 trillion in the next 10 years... and that is if everything goes to plan...

    I don't see how this is sustainable.
    If that comment is true, where does all the money get stored

    Trillions , Trillions , Trillions, Man, I am ONLY 36 years old and I can say I remember when spending a MILLION was a huge amount

    Now the news is like "well, Its only ten trillion,..... It could have been the 50 trillion that it was originally,,......do t do do t do ....."

    WUT ???? LOL

    Is there a bubble or some make believe land that I can live in where all these trillions wind uP?

    Man, Thats a TON of cash going somewhere, YET 9.7% unemployment .....................................
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  • #2
    Re: [&lt;0_0&gt;] &lt;---------

    The money realy has no value they just keep printing it.
    Rod
    MT. Washington Sewer & Drain Cleaning
    Serving Berlin, NH and North Conway, NH areas
    http://unclognh.com
    http://mtwashingtonseweranddrainclea...m/default.aspx

    Charging less does not mean more call volume it just means you have to work harder to reach your goals.

    Comment


    • #3
      Re: [&lt;0_0&gt;] &lt;---------

      Originally posted by UnClogNH View Post
      The money realy has no value they just keep printing it.
      Is there any "limit" to how much they can print ?
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      • #4
        Re: [&lt;0_0&gt;] &lt;---------

        I've got room enough to store about 10 or 20 yards worth...

        I'd go shopping and stimulate the economy!
        411 Plumb Appliance Stimulus Package

        Comment


        • #5
          Re: [&lt;0_0&gt;] &lt;---------

          Originally posted by PlumbingSkool View Post
          Is there any "limit" to how much they can print ?
          Nope they own the printing presses.
          They can print it until they run out of paper and ink...
          That will happen when they can't find a vendor that will take the paper they are printing..
          411 Plumb Appliance Stimulus Package

          Comment


          • #6
            Re: [&lt;0_0&gt;] &lt;---------

            Originally posted by Redwood View Post
            I've got room enough to store about 10 or 20 yards worth...

            I'd go shopping and stimulate the economy!
            LOL - YA, I might be able to move some old newspapers or something
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            • #7
              Re: [&lt;0_0&gt;] &lt;---------

              Originally posted by PlumbingSkool View Post
              Is there any "limit" to how much they can print ?
              My guess when paper or ink runs out.
              Rod
              MT. Washington Sewer & Drain Cleaning
              Serving Berlin, NH and North Conway, NH areas
              http://unclognh.com
              http://mtwashingtonseweranddrainclea...m/default.aspx

              Charging less does not mean more call volume it just means you have to work harder to reach your goals.

              Comment


              • #8
                Re: [&lt;0_0&gt;] &lt;---------

                Originally posted by UnClogNH View Post
                My guess when paper or ink runs out.
                I actually just heard today, that Al Gore is heavily invested in a timber company

                Al Gore's Generation Investment Management FORM 13F HOLDINGS REPORT-November 10, 2009 (DE; PCL; JCI; BLKB)
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                • #9
                  Re: [&lt;0_0&gt;] &lt;---------

                  Originally posted by Redwood View Post
                  Nope they own the printing presses.
                  They can print it until they run out of paper and ink...
                  That will happen when they can't find a vendor that will take the paper they are printing..
                  But in the world of electronic banking who needs to print it, they can just fiddle with some balances here and there and magically there is more money.

                  Comment


                  • #10
                    Re: [&lt;0_0&gt;] &lt;---------

                    Originally posted by cpw View Post
                    But in the world of electronic banking who needs to print it, they can just fiddle with some balances here and there and magically there is more money.
                    I tried that it did not work. I looked at my account online. Over in the balance area. I took a sharpy added a couple of zeros on the screen and went to the bank to withdraw Nope . Darn
                    Rod
                    MT. Washington Sewer & Drain Cleaning
                    Serving Berlin, NH and North Conway, NH areas
                    http://unclognh.com
                    http://mtwashingtonseweranddrainclea...m/default.aspx

                    Charging less does not mean more call volume it just means you have to work harder to reach your goals.

                    Comment


                    • #11
                      Re: [&lt;0_0&gt;] &lt;---------

                      Originally posted by cpw View Post
                      But in the world of electronic banking who needs to print it, they can just fiddle with some balances here and there and magically there is more money.
                      They must have forgot to include those magic buttons on my calculator

                      BTW - Great Point, The whole digital thing does make it easier to spend and store as its more numbers then actual money as in paper form, ya, good point for sure.
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                      • #12
                        Re: [&lt;0_0&gt;] &lt;---------

                        My feeling is that Obama, his administration and the entire congress, both republicans and democrats should be dragged in front of the supreme court and tried for violating our children's and our grand children's constitutional right to life, liberty and the persuit of happiness. the staggering debt and the resulting down fall of the economy, jobs and secrurity will make that promiss all but impossible for them to achieve. These people should be held accountable and put on trial for gross misuse of power, treason and corruption. The road to hell is paved with good intentions.

                        And yes Spiff, you can add Bush and his cronies to the list of defendants if you want to.
                        sigpic

                        Comment


                        • #13
                          Re: [&lt;0_0&gt;] &lt;---------

                          Originally posted by NHMaster3015 View Post
                          My feeling is that Obama, his administration and the entire congress, both republicans and democrats should be dragged in front of the supreme court and tried for violating our children's and our grand children's constitutional right to life, liberty and the persuit of happiness. the staggering debt and the resulting down fall of the economy, jobs and secrurity will make that promiss all but impossible for them to achieve. These people should be held accountable and put on trial for gross misuse of power, treason and corruption. The road to hell is paved with good intentions.

                          And yes Spiff, you can add Bush and his cronies to the list of defendants if you want to.
                          Yep all that. Plus make people on welfare sweep the streets and clean the parks and roads.
                          Rod
                          MT. Washington Sewer & Drain Cleaning
                          Serving Berlin, NH and North Conway, NH areas
                          http://unclognh.com
                          http://mtwashingtonseweranddrainclea...m/default.aspx

                          Charging less does not mean more call volume it just means you have to work harder to reach your goals.

                          Comment


                          • #14
                            Re: [&lt;0_0&gt;] &lt;---------

                            the truth is very little of the "money" is printed or coined,
                            most is a bunch of electrons in some computer, or numbers on a ledger,

                            when you get payed how many employers pay in currency? most pay by check, they take piece of paper that they write $XXX.XX on and you take that some place and you can get cash or just have it "deposited" in to your account at a bank.

                            if you ever got a loan at a bank most likely you did not walk out with currency, you either had a check or it was deposited in your account, and how did you spend it, you wrote a check for the item, or it was done in such a way that it by passed your hands entirely and all you ended up with was the paper work that now says you owe some institution payments or a total of some amount.

                            the same happens in the government, the pass a bill raising the Debt ceiling and the Treasury issues bonds and T bills, that are just paper with numbers on it and the government then transfers it to a different account, and spends, it, and some time a paper containing the details ends up sent to the account holder, such as the bank statement that is sent to you showing the transactions of your account, the deposits and the expenditures. and any other that has happened, Fees and interest.

                            most all the transactions are electronic, the printing of currency is just a small portion of the money that is in circulation,

                            also there is a method with the way the money reserves are required to be keep and the money supply expands via borrowing and loaning of depositors money,

                            http://en.wikipedia.org/wiki/Money_supply
                            M0
                            Laura has ten US $100 bills, representing $1000 in the M0 supply for the United States. (MB = $1000, M0 = $1000, M1 = $1000, M2 = $1000)
                            Laura burns one of her $100 bills. The US M0, and her personal net worth, just decreased by $100. (MB = $900, M0 = $900, M1 = $900, M2 = $900)
                            M1

                            Laura takes the remaining nine bills and deposits them in her checking account at her bank. (MB = $900, M0 = 0, M1 = $900, M2 = $900)
                            The bank then calculates its reserve using the minimum reserve percentage given by the Fed and loans the extra money. If the minimum reserve is 10%, this means $90 will remain in the bank's reserve. The remaining $810 can only be used by the bank as credit, by lending money, but until that happens it will be part of the banks excess reserves.
                            The M1 money supply increased by $810 when the loan is made. M1 money has been created. ( MB = $900 M0 = 0, M1 = $1710, M2 = $1710)
                            Laura writes a check for $400, check number 7771. The total M1 money supply didn't change, it includes the $400 check and the $500 left in her account. (MB = $900, M0 = 0, M1 = $1710, M2 = $1710)
                            Laura's check number 7771 is accidentally destroyed in the laundry. M1 and her checking account do not change, because the check is never cashed. (MB = $900, M0 = 0, M1 = $1710, M2 = $1710)
                            Laura writes check number 7772 for $100 to her friend Alice, and Alice deposits it into her checking account. M0 do not change, it still has $900 in it, Alice's $100 and Laura's $800. (MB = $900, M0 = 0, M1 = $1710, M2 = $1710)
                            The bank lends Mandy the $810 credit that it has created. Mandy deposits the money in a checking account at another bank. The other bank must keep $81 as a reserve and has $729 available for loans. This creates a promise-to-pay money from a previous promise-to-pay, thus the M1 money supply is now inflated by $729 (MB = $900, M0 = 0, M1 = $2439, M3 = $2439)
                            Mandy's bank now lends the money to someone else who deposits it on a checking account on yet another bank, who again stores 10% as reserve and has 90% available for loans. This process repeats itself at the next bank and at the next bank and so on, until the money in the reserves backs up an M1 money supply of $9000, which is 10 times the M0 money. (MB = $900, M0 = 0, M1 = $9000, M2 = $9000)
                            M2

                            Laura writes check number 7774 for $1000 and brings it to the bank to start a Money Market account(that don't have a credit-creating charter)e M0 goes down by $1000, but M2 stayed the same, because M2 includes the Money Market account, but also everything in M1. (M0 = $4900, M1 = $6710, M2 = $6710)
                            below image show the currency in the money supply, (the green line)
                            http://en.wikipedia.org/wiki/Money_supply



                            this here site helps explain the money supply, and some of how the crash happened,
                            http://dollardaze.org/blog/?post_id=00578

                            the way the US system of money and creation of money some what depends on that money is being borrowed, and loaned out, also the economy is some what based on borrowed moneys, (living beyond our means, personal and governmentally). this is part of the reason why the government is so interested in having a supply of easy to borrow money, (but the problem is you can not borrow your way out of debt).
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                            • #15
                              Re: [&lt;0_0&gt;] &lt;---------

                              Nice post BHD, That's a ton of info right there for sure Thanks SIR
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