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<p>[QUOTE="Cloudsweeper99, post: 1207375, member: 3011"]I would characterize it differently. A group of people in power are borrowing money to spend on pet projects, and assigning the bill to us. We are permitted to vote for any member of the group if we care to, but not permitted to opt out. If we try to opt out and not pay, we go to prison. If we somehow elect a president who decides to break the cycle and have the Treasury issue money instead of the Fed, they shoot him. Sorry if I don't show the proper amount of guilt for viewing this as somewhat tyranical. I know you want to believe there will be a painless way out of this, or even to continue the way things are, but these aren't options anymore. When this system was in its infancy, it was pointed out to Keynes that the system was unstable and unsustainable in the long run. He just responded that "in the long run we are all dead," and somehow this idiocy passed for wisdom at the time. Well, welcome to the long run world of high tech feudalism Mr. Serf. If I borrow $5, I expect to pay it. But if someone else borrows it, I don't feel the moral obligation to repay. And if I become unemployed or disabled and can't pay, I don't expect you to pay for me. I expect the lender to write off the loan and tighten their future lending standards.[/QUOTE]</p><p><br /></p>
[QUOTE="Cloudsweeper99, post: 1207375, member: 3011"]I would characterize it differently. A group of people in power are borrowing money to spend on pet projects, and assigning the bill to us. We are permitted to vote for any member of the group if we care to, but not permitted to opt out. If we try to opt out and not pay, we go to prison. If we somehow elect a president who decides to break the cycle and have the Treasury issue money instead of the Fed, they shoot him. Sorry if I don't show the proper amount of guilt for viewing this as somewhat tyranical. I know you want to believe there will be a painless way out of this, or even to continue the way things are, but these aren't options anymore. When this system was in its infancy, it was pointed out to Keynes that the system was unstable and unsustainable in the long run. He just responded that "in the long run we are all dead," and somehow this idiocy passed for wisdom at the time. Well, welcome to the long run world of high tech feudalism Mr. Serf. If I borrow $5, I expect to pay it. But if someone else borrows it, I don't feel the moral obligation to repay. And if I become unemployed or disabled and can't pay, I don't expect you to pay for me. I expect the lender to write off the loan and tighten their future lending standards.[/QUOTE]
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