Except they didn't. No, what they did do was refinance those debts through more T Bond sales and pass them along to their children, grand children and great grand children - along with their university tuition fees, never ending phony wars fees, vacations, and (now) healthcare bills. Not to mention they stuck them with, literally, HUNDREDS of TRILLIONS in unpaid legal obligations in the form of pensions and benefits that form the backbone of the millions of public 'servants' pay and salary. Those Government School's don't just pump out functional illiterates by themselves - no no no, they require a lot of virtue signalling twats and them's pricey! The puny little 20 trillion in national debt is peanuts. Not that it matters. What has happened, has happened. I'm simply suggesting that, IMO, when the Millennial generation gets in power, they'll have fully accepted the lesson of their Boomer parents teachings - that when you want to fix a social problem, you use the State to initiate violence to do so. Wa-La: A never ending Drug War that results in more drug abuse then before it started; or a Government School System where 20% of the graduates cannot competently read and write (that's 21% now by the way, and the average IQ is now 98 - yay); or Government Ghettos where gun violence, rape, molestation, beatings and mayhem is a generational way of life; or, perhaps, a new War - a War on Pensions and Assets Please Register or Log in to view the hidden image! How's that sound? Pretty good? I mean, the only people left to steal from (tax) will be their Boomer parents - whom own most everything and are expecting hundreds of trillions in pension and health benefits. So, for the good of society, tax them. Tax away their homes. Tax away their pensions. Use Regulatory Capture to remove them from their jobs. Use Licencing scams to prevent them from obtaining work. Then shovel them into one of the Welfare Ghettos they made - where they can appreciate their White Privilege .... LOL And all it will take is pulling the magic Left-Right lever ONE time. Just once. Let's see if it happen. I think it will. That's why I'm guessing far LEFT (after 8 years of Progressive Donald). That's the power of the State. It's called: Progressive Socialism. You know, where you inflict violence against morally innocent Citizens trapped in a geopolitical domain for the good of the stuff. Yes, for your average under educated, under employed Millennial, where its illegal even BE in the markets (hell, they even need a licence to make coffee or cut hair) the State seems to be their last and best option. Probably their only option. We could think of it as Karma Please Register or Log in to view the hidden image! Oh God, the Ghost of Reagan again. You do know Obama bailed out the criminal Bankers together with Junior? He didn't prosecute any of them. As a matter of fact, THAT is why he was supported. Because he was a pecker head who'd do what he was told to do. And he and Junior did just that. Anyway, the financial markets use the State's fiat currency, it's value is determined by the Central Bank, these markets are also the second most regulated markets in the world (objective fact). Let's not pretend they are free-markets. Let's not pretend they are anywhere near unregulated. EVERY aspect of the market is regulated. ALL transaction. One more time: ALL TRANSACTIONS have a State regulation. Every single one. ALL. ALL Getting it yet? Every single financial transaction that occurs inside the USA has numerous regulations that govern it. Sure, I know, you think just a few more regulations added to the millions there already are - that would have magically stopped the tide of Boomer rent-seekers washing upon the shore and looking to become SlumLords. Sorry, you're wrong. NOTHING could hold back that greedy Locust swarm. Nothing. That's how it works. No magic God or magic State can hold back the society that invented these concepts. And, of the two, I'd take more of the first and less of the later. So, let's see how things turn out. I for one think the USA should separate into four nation states each with limited governments that reflect the will of those people. Perhaps a loose union of sorts. But, nothing like that is going to happen any time too soon. In the meantime, 8 years of Trump followed by (IMO) a far left demagogue. Who is going to give you all that free shit you want. But, first you have to repay back a lifetimes worth of T-Bonds. Hundreds and hundreds and hundreds of trillions. Oh, and the best part, there'll be less high IQ individuals and more lower IQ individuals. Yes, I'm sure that'll work out well. Oh oh oh, I forgot, plus out State regulated and State formed financial system collapses without exponential expansion of tax chattel. Let's import some from the middle east Please Register or Log in to view the hidden image!
No, the WWII debt was retired, and the total US debt diminished accordingly. They did it by taxing rich people. Yep - until the deregulations, tax rate cuts, enforcement gutting, permissive lobbying, campaign financing laxities, and other structural changes made during his administration, are repealed and revoked and put back in order, we live with the accumulating consequences. W bailed out the bankers (and Greenspan, etc). The collapse, and the bailout, happened 2006 - 2008, about four years after W took office and re-instated Reagan's slack enforcement approach, about five years after the repeal of the regulations on commercial banking and finance that had been imposed 60 years earlier to prevent banking collapses like that one. Because the people who had lived through the last banking collapse learned their lesson about banking man. But they died - and their children forgot. Just as their children have forgotten about fascism - what it looks like, how it works, what will happen to you if you don't step on it. This is called "history". Learn it, use it, it's your friend.
WWII costs tax payers about 5 billion a year (now). Let's see, given we run a deficit every single year - just where does this money come from? Oh yes, T bonds added to the national debt. Junior and Oblahblah bailed out the banksters. Junior and Oblahblah failed to prosecute the banksters. You can thank our lovely GiverMint for this. If we didn't have a Central Bank, we wouldn't had the Great Depression, let alone this recent Greater Depression. Anyway, I stand by my prediction of the eventual rise of a left leaning Dictator. Wouldn't you LOVE a B.Sanders who could pass all those sweet regulations making sure everyone got high quality top shelf FREE healthcare? You know, for the poor. The children. Oh, and the FREE University too. Don't forget about that. Hell, how about FREE food, and FREE vacations - shit boy, we all gonna live large Please Register or Log in to view the hidden image! LOL We'll just have to wait and see how history plays out Please Register or Log in to view the hidden image! Oh, and as for the Alt-Right, they're no different than the Black Panters or BLM. As a matter of fact, the Alt-Right would describe Japan. Japan pretty much is the Alt-Right fantasy. A homogeneous Nation of relatively high IQ people enclosed in a Nation State unwilling to sellout 'THE' people to SlumLords for some shiny beads. Did I ever mention how much it costs to rent a new apt close to a major city? Say, you're about 20 min through the mountain or 20 min by train. That's right, in ultra modern Japan, with ultra modern infrastructure and technology, with really nice houses and apt where you can press a button and the bath is run, warm and waiting for you - the cost? 300. No, not a week. That's the rent a month. See, our Central Planners in good old The West needs to pay for all that free shit, so, pay the millennials will, until they decide to tax the hell out of their Boomer parents. And hey, here's a good excuse to steal: YOU USE THE ROADS! Please Register or Log in to view the hidden image! Just ask our economists, like that retard who wants a war with Aliens Paul Krugman. Japan is DOOOOOMED. They've been calling the End of Japan for DECADES. It hasn't happened. It isn't going to happen either. The fact is, with increased productivity, the GDP per person is going up (unlike in the USA), even though minimum wage is low - it doesn't matter. It should be low, that means prices are low, and drop a little each year. As they should do with production increases supply. Of course, not according to NeoKeynsians, no, in their world we need that fat 2% inflation or all hell breaks loose / to pay off past free shit debts.
No, it doesn't. Debt to GDP ratio was about 40% just before WWII entry, and had returned to about 40% thirty years later despite the Cold War military expenditures - the lifespan of the longest bond. Except they hold positions of influence and power in the US government, including Congress and the White House, and their political worldview is delusion based - neither of which is true of BLM, say. No, W&Cheney bailed out the banksters. The entire bank collapse and bailout scene played out under W's administration. Of course you do - every single justification you have for your worldview is based on a mythical past (difficult to stand by) or a fantasy future (much more reliable). Prediction: any and every authoritarian type, "dictator", that arises or attempts to arise, will be described by you as "left leaning". You're already describing Trump as a socialist.
“André Weil suggested that there is a logarithmic law at work: first-rate people attract other first-rate people, but second-rate people tend to hire third-raters, and third-rate people hire fifth-raters. If a dean or a president is genuinely interested in building and maintaining a high-quality university (and some of them are), then he must not grant complete self-determination to a second-rate department; he must, instead, use his administrative powers to intervene and set things right. That's one of the proper functions of deans and presidents, and pity the poor university in which a large proportion of both the faculty and the administration are second-raters; it is doomed to diverge to minus infinity.” - Paul Halmos, mathematician
