today, the S&P reduced the triple A rating.
ok, for the first time, the holiest of holy cows has been given a caning. gone is the veneration.
my only question to mrs K this morning was: how long could we run a household, with an income of 64 cents, and spend 1 dolla.
the raising of the debt ceiling, is not about repayment of debts, but increase it, to pass on to some future generation. i understood, that governments encouraged inflation, so that the repaid debt, in real value will be less than what was borrowed, with interest rates, never making up for the lost value.
two ways to reduce the gap - raise taxes; which the rich in usa wont let happen, considering how greedy and selfish they are. here is below, an interesting admission from the third richest man in the usa, but with a conscience i think, warren buffett
Warren Buffett's Tax Rate is Lower than His Secretary's - YouTube
the other way is to cut spending. the usa military industrial complex has a stranglehold on entitlements which no usa president can touch. the usa old people, who also support the Tea Party movement, will not let anyone touch the medicare. only the poor who have no franchise, will get screwed with medicaid being cut.
Poll: 70 Percent of "Tea Party Supporters" Oppose Medicare Cuts
methinks, that there is a structural imbalance here.
it was like that in canada too. but 15 years ago, one prime minister called, jean chretien, a quebecois, brought in limited austerity over a period of 10 years and ended his term with surpluses..
also the oligopoly banks here wanted to merge, join their american and european cousins, in what they thought, was big leagues, and million dolla paychecks for their executives. chretien demurred. in retrospect, that was the smartest thing to do, as it sheltered canada from the type of meltdown that happened in the usa.
here in canada, the banks, have to stick to the old tried rule, if you lend money, you should have a backup reserve, atleast 1/7 of it or something like that. not bragging here. canada is a small country, small population, 2nd largest land mass of earth, and lives on natural resources. mostly anyway.
but, managing a country, is no different than managing a household, in principle. should we all not live within our means?
வரவு எட்டணா செலவு பத்தணா கடைசியில் துந்தணா. n'est pas?
![Smile :) :)](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f642.png)
ok, for the first time, the holiest of holy cows has been given a caning. gone is the veneration.
my only question to mrs K this morning was: how long could we run a household, with an income of 64 cents, and spend 1 dolla.
the raising of the debt ceiling, is not about repayment of debts, but increase it, to pass on to some future generation. i understood, that governments encouraged inflation, so that the repaid debt, in real value will be less than what was borrowed, with interest rates, never making up for the lost value.
two ways to reduce the gap - raise taxes; which the rich in usa wont let happen, considering how greedy and selfish they are. here is below, an interesting admission from the third richest man in the usa, but with a conscience i think, warren buffett
Warren Buffett's Tax Rate is Lower than His Secretary's - YouTube
the other way is to cut spending. the usa military industrial complex has a stranglehold on entitlements which no usa president can touch. the usa old people, who also support the Tea Party movement, will not let anyone touch the medicare. only the poor who have no franchise, will get screwed with medicaid being cut.
Poll: 70 Percent of "Tea Party Supporters" Oppose Medicare Cuts
methinks, that there is a structural imbalance here.
it was like that in canada too. but 15 years ago, one prime minister called, jean chretien, a quebecois, brought in limited austerity over a period of 10 years and ended his term with surpluses..
also the oligopoly banks here wanted to merge, join their american and european cousins, in what they thought, was big leagues, and million dolla paychecks for their executives. chretien demurred. in retrospect, that was the smartest thing to do, as it sheltered canada from the type of meltdown that happened in the usa.
here in canada, the banks, have to stick to the old tried rule, if you lend money, you should have a backup reserve, atleast 1/7 of it or something like that. not bragging here. canada is a small country, small population, 2nd largest land mass of earth, and lives on natural resources. mostly anyway.
but, managing a country, is no different than managing a household, in principle. should we all not live within our means?
வரவு எட்டணா செலவு பத்தணா கடைசியில் துந்தணா. n'est pas?
![Smile :) :)](https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f642.png)
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