Ignorance at Bars

That was nicely written, Captain

My question for you (I have a few things that really bother me and can't get them out of my mind) - how does it end?

http://www.cedarcomm.com/~stevelm1/usdebt.htm

When one looks at the plot of US debt on a log scale - link not working - doesn't the linear log plot have to continue?

If not, where do things go from there?

I prefer 1 part cheap Saskachewan beer...

24 parts Steeler.

So capitalists, conservatives, libertarians and other varied sorts of free marketers, just sit back and relax and let the liberals have their day. There's nothing you can do about it, and about the best thing to do would be for us to just quit so that when this all comes crashing down and results in a collapsed, desperate nation we can show the masses our clean hands and say, "See, we told you so and we have nothing to do with it.

I read that book. It's called "Atlas Shrugged".

My wife was watching a program on Pheonix and this man who had a good job and bought his house with money down and paying off the mortgage yet all around him was chaos. The homes in this nice suburb were abandoned or had for sale signs or foreclosure signs on them. Some had "Best Offer" signs. This man had bought his house for over $300k, not overpriced as it was a great house, yet it was now worth a fraction of this value.

Now the state of Kansas is not sending out tax refunds as California is doing.

Obamamama, saaave ussss.

It appears that Kansas has now joined California in postponing tax refunds.

With property values nowhere near bottom, where are the municipal property value assessors? hiding in their Hybrid Escapes? cowering beneath their clipboards?

There will pitchforks and torches if property values remain grossly overstated, while wages decline, jobs are lost, houses are lost, and states and counties dramatically cut services.

Shaken - I think it doesn't really matter if they adjust down the property values - they will just have to upwardly adjust the mill rate (or whatever the right words are). The counties need the money, they have to get it from somewhere - they may get some from the federal government - but - it has to come from somewhere.

Captain, I am very afraid you are right. Too many people simply refuse to think. Rather, they listen to some socialist on TV or on radio and buy their story as the truth. Once they've bought, there is no need to revisit the subject ever again. Besides the daily drumming from the MSM makes certain these useful idiots never stray.

The sad thing is Rosco, I think that America has been hollowed out from within, and its prosperity was created by various shams and scams - and now the cash call has come, and there's nothing in the piggy bank to bail itself out.

No easy way out - and I think this mess will unravel for ten years plus. (But I'm generally wrong about these things)

can't use logic in a discussion with a liberal or a religious type

and definitely not a religious liberal

Erik, what kind of political future unfolds for a municipal or county level politician who raises the mil rate while people are hanging on by their fingernails?

There isn't a good solution for the counties. Damned if they market-value assess, damned if they don't.

Market value assessment sticks at the top of the bubble is going to be tested, either in court, or before a crowd with pitchforks and torches.

Now y'all know how your doctor feels when you come in and start blathering on about vitamins curing cancer.

I used to have the same problem with fat women who would argue with me about why their knees hurt. "Because you're 150 F-ING POUNDS OVERWEIGHT and you're crushing the cartilage out of your f-ing knees with every step!!!" didn't seem to penetrate the cranium. Some of them a 2x4 wouldn't have made any progress either. Too much padding.

Liberals flogging gun control are another bunch. Impenetrable.

Those who refuse to listen, no argument or fact can sway them. These ones, I just step back and let 'em hit the wall. Pain is often the only teacher that can get their attention. Sometimes even pain fails.

Walk away, try not to get any on ya when they splatter on the rocks.

shaken - I think the problem is that things have just been thrown so totally out of what in the US.

As someone posted above - you buy a house for 300K plus, but then all of a sudden, there's fire sales going on all around you - and your property value plummets.

In the end, the counties, states or whatever can't print their own money - they have to get it from somewhere.

I was talking to someone from upstate New York - and taxation on properties has soared enormously (according to her) - but there's no way you could sell for that price

So things will be pretty screwed for a while.

Shaken, I agree. Taxes will come down gracefully or people will just cheat. That's how it happened in Italy. Post WWII the income taxes were confiscatory, so nobody had any income. Cash economy, no paper trails.

Its already in place here in the construction industry, nobody who works construction reports even half what they make. They can't. If they did they'd be stony broke because there's zero profit margin.

I'd far prefer these things to be worked out intelligently by counties and provinces, but so far governments show no signs of growing a clue.

As I mentioned on another thread, California is just about to have its taxes hiked about $14.4 billion. That's the DemocRats in the legislature clinging to their unions, their greenie regulations, their social programs and their pork. $480.00 -increase- for every man, woman and illegal immigrant in Kali, all 30 million of 'em. Good f-ing luck.

David Miller, mayor of Hogtown shows no sign of being any brighter, nor does Mr. McSquinty. Food riots anyone?

Silver lining, cottages in Muskoka will soon be affordable again. ~:D

Phantom - it will be interesting to see price readjustments everywhere.

I always felt like I was an idiot going into something with a nice income, relatively safe - but not super high $$$.

Right now - I think I'll take it thanks - no regrets for not being a banker type now

"...I feel compelled to mandate you pour yourself a nice drink before reading."

And I feel compelled to tell you where you can stick your mandate. Yesterday marked 17 years of clean and sober living for me.

Congratulations, Sean. God bless you.

Take it easy Sean, a nice drink doesn't have to be booze as you well know. I'd gladly have a conversation, discussion, debate or whatever with you any time at Timmy's. Just make mine a double double please (and a fritter too).

Seventeen years is a great milestone and I congratulate you on it.

Congratulations, Sean. I have the same. I try to be very open minded towards others, who do not have my problem.

Well, good for you Sean. I hope you weren't one of those sloppy drunks.

Sounds like a nice lil drink to me.

But, back to Topic, IMHO, Captain Capitalism just took a wide swipe with that paintbrush and painted the whole America Population as greedy. I am White, Conservative, Catholic, and 7 years into a 30 year fixed, no credit card debt, own my land, own my truck, boat, 4-wheelers and the proud owner of over 4,000 rounds of ammo.

I am not the problem, and I am getting tired of being labeled as the problem. The Problem is America has 30 Million Blood-Sucking Illegal Immigrants, the problem was Indy, Freddie and Sallie Mae made Loans to Millions of Minorities under the guise of Diversity who couldn't afford them (under Democrat Legislation), the problem was and remains Oil Speculators that drove gas to $4.25 a gallon, the Problem was greddy CEO's and Companies manipulating the Market, the problem was and remains Un-Checked Government Spending by Morally Bankrupt Politicians on both sides of the aisle.

All though the US House Republicans maybe where our next President comes from.

Now, let me get another cup of java, and write down that Fat Dachshund recipe.
,

Good deal Sean. Clearly you started listening at some point. About 17 years ago, right?

Eric, there is no shame to be found living within your means. Smaller house, bigger savings account, better sleep at night.

Invest in knowledge, skills and tools. That way if you can't buy what you need, you can make it.