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Discussion in 'Politics' started by slurper_la, Nov 16, 2009.
NewsBlarg.com | Finance | Passionate Plea From Asia
France just keeps on looking better and better.
I think creating a new currency is something that could possibly happen. We can never repay the debt, that much is obvious. It's going to have to be wiped clean somehow.
I have little personal debt, I've always made sure of that. However we could still lose everything regardless.
Well, I have no unsecured or secured debt. I own all of my property in Nevada and the businesses that operate under my Nevada LLC pay off all bills when invoices are received. All annual taxes are paid promptly.
Same thing in Barcelona and Buenos Aires.
Although I own a great deal of property, I have had only one, count it, one mortgage. It was on the first home I ever bought in San Francisco in 1970. But it was a small apartment building with four units and I was able to satisfy that debt in less than 19 years.
I did take out a student loan for $5 thousand during my first year of graduate school. But paid it off ASAP when I graduated more than 30 years ago.
My grandfather and my father drilled it into me that the biggest raise you could give your self was to never go into debt. After repeatedly hearing the horror stories of my grandfather and father, who both lost substantial sums in savings when the local bank failed in 1932, the lesson they preached became ingrained deep inside my little lizard brain.
But don't you all remember El Bush's answer to the worsening 'Mericuhn economy? He and his cronies suggested we all go out and buy lots of stuff to keep the quarterly earnings looking good. Yup, that was Skippy's solution -- spend spend spend.
If you're in debt because you willingly took on more debt than you can pay off, don't expect me to feel sorry for you.
If you're in debt because the good ol' USA system of medical care insists you spend yourself into poverty before they'll help, I do have sympathy for you. That is not right.
But for all of you with large unsecured debt: good luck with that.
im glad living in the la area i got it made...with 2 vehicles (jeep and a truck) thats have been paid for and 2 homes are also paid for...just need to pay maintaince on the vehicles & home, insurace and then the property taxes on the homes. one home was mother's and other home was grandmother's ... both paid for yrs ago. and have a 40 yr anuity minus 3yrs already paid out. (check once a month)...tax free and i work fulltime at LAX for an airline whice pays weekly with medical dental vision and i do put 11% into 401k..not too fond weekly; im used to bi weekly...o well lol lol lol / / what more can i ask for....well i would like to have a gf. (in the proses of looking)
so back to the question "How Much Do You Owe?" um....nothing i guess.
Well, it may come to pass the the USA will need to take desperate measures within the next 10 years and do something similar to how Mexico dealt with its insurmountable debt and double-digit inflation back in the early 1980s. They simply began printing New Pesos which their treasury had approved that had the last two zeros removed. But even Mexico is back to square one: 1,000 Pesos is now about $100. They may end up removing two zeros off of their currency once again if inflation goes into double-digits and cannot be controlled.
Yes, France isn't a bad place (except it's filled with French). That's why I chose Catalunya (Catalonia for you 'Mericuhns) as my new home back in the 1990s. It has all the charm, scenery, food, and sublime way of life as Le Provence, but without the French. Not that I don't like the French. I do. But Catalunyans are, for me, much nicer to live among. For example, if someone is trying to communicate in Castellano/Spanish, we are polite and allow them to at least finish what they are attempting to say before interrupting them and correcting their pronunciation. Sadly, the French are Hell bent on correcting every vowel you may utter or, even worse, insist that you speak in English because they cannot stand hearing Anglos (or anyone else) ruin their language. Sad, but true. South of Andorra, Catalans are much more polite.