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N_E_1 for Tennis

(9,781 posts)

4. We live in a debt based economy...

Reply to LaydeeBug (Original post)

Tue Aug 23, 2016, 09:53 AM

Aug 2016

Not just in the US but worldwide. Not only citizens but business and governments.
Here is a link to get you started. But just google " debt based economy" and get prepared to shake your head. Economics is not at all one of my strong points and some of this is way over my feeble brain so I can be of no real help in explaining. This term came to my attention when I was going thru a medical bankruptcy. My lawyer who is also an econ major tried to explain it to me. He saw the absolute lost look on my face and told me if I wanted look it up, the web could explain it better and clearer than he could. So I did.

http://www.permanentculturenow.com/the-real-economic-scandal-understanding-the-debt-based-economy/

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Need some help re. Obama and the debt clock... [View all] LaydeeBug Aug 2016 OP

First.... Honest.Dem Aug 2016 #1

First off, you are looking at the 2020 projection as if it were today Thor_MN Aug 2016 #2

In addition to this post by Thor, Mc Mike Aug 2016 #9

thank you for this. LaydeeBug Aug 2016 #11

Watch those numbers, fiscal year. Mc Mike Aug 2016 #12

I'm not sure how much help you will get on that one. CentralMass Aug 2016 #3

We live in a debt based economy... N_E_1 for Tennis Aug 2016 #4

I am starting to wonder why I bother. The response: LaydeeBug Aug 2016 #5

Uh... no moose65 Aug 2016 #7

The answer to your question is in Thor's post 2, and my post 9 response. Mc Mike Aug 2016 #10

a better metric to show would be the current annual deficit versus GDP lakeguy Aug 2016 #6

Another metric would be revenue and spending vs GDP CentralMass Aug 2016 #8

Claim is true, unfortunately. Yo_Mama Aug 2016 #13

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