'How bored were we?', the peanut gallery shouts..
So bored that we went on YouTube and watched highlights of the 3rd 1984 Presidential Debate between Reagan and Democrat nominee and former Carter VP, Walter Mondale.
Yes.. That bored.
But for those with curiosity in recent political history, it is quite interesting to watch these things..
Good thing we don't have political leaders and a President so narrow minded and fragile in ego that we'd ever start up tensions and bad blood with them again, right?
And during the debate, Mondale probably felt he was scoring points with the American people as he jabbed home that the National Debt had risen to a "whopping" $1 Trillion for the first time in the nation's history... A span of just over 200 years.
Of course, this past Friday, the National Debt surpassed the $18 Trillion barrier of which debt held by the public rose to $12.9T, an increase of $32 billion in one day.
Pretty impressive.. its only taken our nation 30 years to take that $1 Trillion and make it $18T..
And when Obama was inaugurated, the Debt was $10.625T so its gone up 70% in a little less than 6 years.
Because there really is no difference between $8T, $18T and $800T when it comes to ultimate default when you don't have the means to ever pay back $1 Trillion.
Its like with personal bankruptcy.. If you're in a position where you're forced by the system or circumstances to file for Chapter 7 and you have very little in the way of assets and income, what's the difference if your final debt load is $16k or $160k or $1.6M
It gets wiped off the books all the same.
We used to get so nutty about the National Debt and how high its risen but the reality is, if those who provide the endless loans such as China and Japan never throw down the gauntlet and call in the debt when it was $12T or $16T, then why would they suddenly at $18T...
Its only currency.. it can be manipulated so easily
Look at how the Fed operates..
We all know of the hyperinflation that post WWI Germany dealt with and the stories of needing wheelbarrows of money just to buy bread, etc..
By November 1923, one US dollar was worth 4,210,500,000,000 German marks or Paipermark... That's 4.210 Trillion..
So what happened next?
Well as group of international bankers such as JP Morgan got together and sat around in a room and replaced the Paipermark with something called a Rentenmark with a rate of one Rentenmark to equal one Trillion old marks, and an exchange rate of one United States dollar to equal 4.2 Rentenmarks.
In other words, to keep things simple, these financiers picked up a pen, crossed off 12 zeros and the old conversion rate of 4.2 Trillion of old German currency to $1 US dollar magically turned into 4.2 to $1.
Imagine if you and we could do that.. Wouldn't that be fun?!
Student loan debt is $100,000.. cross off 4 zeros.. Now its $10
And one day when the global economy Does indeed collapse, a bunch of soulless financiers and bankers will meet in a lovely room, and pick up a pen, cross off 12-18 zeros and those trillions or zillions in debt will magically become millions...
'No Worries.. Be Happy'
Gotta love it when we are our own Suga' Daddy (or Momma)