The difference between the #debt in WWII and today, is that the entirety of the debt spike previously was #productive #debt used for the war effort. The debt today is almost entirely non-productive (ie. #welfare) pic.twitter.com/pwnDE3aD0J
— Lance Roberts (@LanceRoberts) February 25, 2021
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It is my sincere desire to provide readers of this site with the best unbiased information available, and a forum where it can be discussed openly, as our Founders intended. But it is not easy nor inexpensive to do so, especially when those who wish to prevent us from making the truth known, attack us without mercy on all fronts on a daily basis. So each time you visit the site, I would ask that you consider the value that you receive and have received from The Burning Platform and the community of which you are a vital part. I can't do it all alone, and I need your help and support to keep it alive. Please consider contributing an amount commensurate to the value that you receive from this site and community, or even by becoming a sustaining supporter through periodic contributions. [Burning Platform LLC - PO Box 1520 Kulpsville, PA 19443] or Paypal
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We borrowed money to destroy much of Europe and Japan and then borrowed more money to rebuild them. I wonder who was collecting the interest on all of the borrowed money?
The Fed and it’s OWNERS!
I would not call war debt productive even though necessary in that case. The important difference is that the war was going to end so we could then return to a balanced budget and fiscal sustainability. Now it is structural between “entitlements” and defense and therefore unsustainable as those will never end until they have to as we hit the wall.
The Austrian School said you either stop and get your act together or run it until it blows up. Pretty obvious what choice has been made.
Prepare to duck & cover 💥💸💸💸💸
Lance, you just now figuring that out? WTF
There is nothing “productive” about war debt unless you let everyone have all the tanks, trucks, planes, guns, etc. to use freely when its over. You cannot divert useful raw materials to make things that will be destroyed or worse, destroy other things, and call what you are doing “productive.” Just another lie pushed by the folks who make their money off blood and destruction.
And truthfully, even if you let everyone HAVE the products of the wartime buildup, they are likely NOT what people would have bought given their own free will (although many on this site would happily purchase mortars, rocket launchers, tanks, belt-fed playthings, and lots and lots and lots of ammo, but you get my point), and would likely have gotten a far better price in a competitive marketplace.
The debt today (accumulated over the last 40 plus years) was to hide just how much economic damage the BIG CLUB CIRCLE JERK of Wall Street to K-Street to Capitol Street perpetrated upon the majority of working American Citizens . The largest transfer of wealth from the many to the few in world history . Look who became wealthy or lost little to no ground financially and look who continues to lose ground and who is worried they are next ! Government employees that pension you contributed to about 70 to 80 % of you are truly bankrupt now like steel workers etc … oh don’t worry you will still get a check because the big club can still keep moving the goal posts but reality is they are on a flat earth trajectory and you are about to join the people tossed off the edge decades ago remember who is in bed with the Chi Coms and are millionaires now because your retirement is about to go under that bus and no the old tax payer are tapped out
None of that debt seems productive to me. I can’t wait to see the post-US govt declare its debt odious and tell the banksters to suck a bag of dicks.
That gives me a thought: How can a debt be valid when the proceeds of the loan didn’t even exist before the loan was made? The Fed loans Congress money that they don’t have and that they create out of thin air, fraudulently laying claim to the future productivity of people who didn’t ask for the loan.
Yep, just tell ’em to stick the debt where the sun never shines, and eat shit and die.
Repudiation of the federal debt was a big thing for folks like Murray Rothbard. And it makes sense as the only way the debt can be paid back is through the future enslavement of the population. The primary benefit to a complete default is that NOBODY would EVER lend us money again, and our worthless Federal government would be forced to finally have a balanced budget and live within their means.