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is obama out of touch with the economy

Discussion moved to this forum by Amazon on Jun 14, 2012 8:07:13 AM PDT.


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Showing 126-133 of 133 posts in this discussion
In reply to an earlier post on Jun 16, 2012 2:32:32 PM PDT
Hadley--"If you stole all the money from the rich, to pay down the federal debt, how much would it go down?"

>>JGC: A lot. The top 1% could pay off the national debt with a fraction of their net assets and still be rich.

In reply to an earlier post on Jun 16, 2012 3:33:03 PM PDT
[Deleted by Amazon on Apr 30, 2013 1:43:56 PM PDT]

Posted on Jun 16, 2012 11:45:33 PM PDT
Hadley--"The top 1% assets don't even come close to $16 trillion."

>>JGC: Yes, they do. Net worth of the US is approximately $60 trillion. The top 1% owns 35% of that, or roughly $22 trillion. If they took it upon themselves to pay off the national debt, they would have $7 trillion--OK, $6 trillion left. And that is net worth, not their total assets and not taking account of their borrowing power.

In reply to an earlier post on Jun 17, 2012 12:16:28 AM PDT
James G. Christenson says:
Hadley--"The top 1% assets don't even come close to $16 trillion."

>>JGC: Yes, they do. Net worth of the US is approximately $60 trillion. The top 1% owns 35% of that, or roughly $22 trillion. If they took it upon themselves to pay off the national debt, they would have $7 trillion--OK, $6 trillion left. And that is net worth, not their total assets and not taking account of their borrowing power.

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i believe the numbers are a lot lower. But sorry James, your post is absurd. Someone has to be able to buy the trillions of their assets. who is going to buy it to free up the cash?

In reply to an earlier post on Jun 17, 2012 4:54:17 AM PDT
OldAmazonian says:
For the Fed and its symbiotic feds, money DOES just come out of a MONOPOLY game. Thanks to congressional crooks and Woodrow Wilson, our most destructively incompetent president ever. Only an academic could do something so stupid.

The Case Against the Fed

In reply to an earlier post on Jun 17, 2012 5:32:46 AM PDT
Deckard says:
J. Brandt said:
"Government bailouts and handouts are what is killing this economy and the European economy."

Right. The economy wold be so much better if GM, AIG, and several major banks ad all gone bankrupt.

In reply to an earlier post on Jun 17, 2012 9:18:33 AM PDT
kbw--"But sorry James, your post is absurd."

>>JGC: I'm not saying it is realistic. But I keep hearing people fretting that the country just doesn't have the ability to manage all this debt, which is simply not true.

In reply to an earlier post on Jun 17, 2012 9:30:48 AM PDT
James G. Christenson says:
kbw--"But sorry James, your post is absurd."

>>JGC: I'm not saying it is realistic.
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oh, well I'll do the roseanne roseannadanna answer... nevermind.
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This discussion

Discussion in:  Politics forum
Participants:  31
Total posts:  133
Initial post:  Jun 13, 2012
Latest post:  Jun 17, 2012

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