[Rhodes22-list] National Debt

[Herb Parsons]

Now you've gone past my pay scale. I understand the basics.


>>> salm at mn.rr.com 11/10/2006 2:33:20 am >>>
Herb,

Thanks for putting it in simple terms that I can understand.  Now, with the
debt at 8.5 trillion, what does our GNP have to be in order for us NOT to be
"really in trouble" and can we sustain that until we're out of debt?  And
how many years will that take?

These are the very simple questions that nobody's asking.  I realize the
macro-economics math is not simple but everybody, Repubs and Dems alike,
seem to have their collective heads in the sand concerning our debt.  It
looks to me like we're already "really in trouble."

Slim

On 11/9/06 10:47 PM, "Herb Parsons" <hparsons at parsonsys.com> wrote:

> In simple terms, comparing debt to gnp is sort of like comparing a persons
> personal debt to their earning potential.
> 
> If Jon Smith has a total debt to 500 million, he sounds like he's badly in
> debt.
> If Joe Jones has a total debt of 10,000 he sounds like he's OK.
> 
> However, Jon Smith makes 4 billion a year, and Joe Jones gets a $125 in
> unemployment benefits.
> 
> Guess who's really in trouble?
> 
> 
> Herb Parsons
> 
> S/V O'Jure
> 1976 O'Day 25
> Lake Grapevine, N TX
> 
> S/V Reve de Papa
> 1971 Coronado 35
> Lake Pontchartrain, Louisiana Coast
> 
>>>> salm at mn.rr.com 11/9/2006 7:12:17 pm >>>
> Brad,
> 
> OK, I'll bite.  Will you and your MBA please explain how the debt is "mild"
> against the GNP? 
> 
> I'm being uncharacteristically sincere here:  I've heard the
> $8,000,000,000,000.00 figure tossed around lately and I don't understand why
> more dems aren't screaming bloody murder other than a few comments about
> saddling our children with this debt.  Please enlighten us on how this ISN'T
> a problem.
> 
> Who was it that said, "There are lies, damn lies and statistics."?
> 
> As for capitalism, I measure my assets and liabilities in songs.  I sing
> about 350 songs per month for my mortgage.  I'll have to sing about 42,000
> more songs to pay it off.  My Rhodes22 cost 3750 songs.  (That's S3750)
> Most of them are "Piano Man", "Brown Eyed Girl", "Great Balls of Fire" and
> "Margaritaville." over and over.   Oh, and "Free Bird."  8-)
> 
> Slim
> P.S. Have you read "Rich Dad, Poor Dad" by David Kiyosaki?
> 
> On 11/9/06 5:35 PM, "Brad Haslett" <flybrad at gmail.com> wrote:
> 
>> Slim,
>> 
>> You probably 'git' your numbers from the same source as mine - thin air!
>> Don't make me look this up right now but the National Debt (a fuzzy number
>> depending on how it is measured) is well under control compared to GNP.
>> 
>> That is small comfort.  There are a lot of hungry Chinese and Indians.  The
>> Japanese, Koreans, Taiwanese (fellow travelers in China world according to
>> Fan) and  a variety of assorted labor sources are worried about the
>> Vietnamese and others who will work even cheaper.
>> 
>> Plumbers make $90 per hour.  I pay $65 per hour for mechanics to work on my
>> airplane which is less than the shop rate on Fan's Honda.  It ain't that
>> tough to make it in this world.  We paid Mexicans $15 per hour on the coast
>> until the locals insisted that they be run off.  OK, let's raise the minimum
>> wage.  The locals still won't work as long as they have a FEMA trailer and a
>> stipend.
>> 
>> God help us!  I'm sorry, non-descriptional benevolent supreme being,
>> subsidize us!
>> 
>> Brad
>> 
>> 
>> 
>> 
>> On 11/9/06, Slim <salm at mn.rr.com> wrote:
>>> 
>>> Brad,
>>> 
>>> I'm referring to the total national debt.  I don't know where I git that
>>> number--you know I'm never that well-informed.  8-)
>>> 
>>> Slim
>>> 
>>> 
>>> On 11/9/06 5:04 PM, "Brad Haslett" <flybrad at gmail.com> wrote:
>>> 
>>>> Slim,
>>>> 
>>>> We've got 30 minutes max until I have to drive Cora to an 'appointment'.
>>>> One thing I learned from my undergraduate in accounting and an MBA is to
>>>> distrust numbers when they are thrown out for effect.  What number are
>>> you
>>>> talking about?  Trade deficit?  Total national debt?  Big numbers are
>>>> scary.  Where did you get your number? Our national debt as a percentage
>>> of
>>>> GNP is mild.
>>>> 
>>>> By all conventional measures, the economy is in great shape.  Now let's
>>> look
>>>> at the dark side.  The good paying middle class union jobs have gone
>>>> overseas, emphasis on the GONE!  The middle class semi-skilled jobs, ie.
>>>> telephone work, accounting, etc, has gone overseas, GONE!  We still fry
>>> the
>>>> best Freedom Fries in the world at minimum wage.  Raise the minimum wage
>>> and
>>>> $5000 automatic fryers look attractive.
>>>> 
>>>> Slim, it doesn't make a rat's ass which party won the most recent
>>> election
>>>> in long term economic trends provided we stick with a capitalistic
>>> system.
>>>> We (as a nation) are sucking left rear hind tit in many economic ways.
>>> I
>>>> just cashed in my international funds at what I think was the high point
>>> to
>>>> buy my new toy.  Maybe the French and Germans are where you should
>>> invest
>>>> your money, but, based on Airbus and their host countries lackluster
>>> economy
>>>> compared to ours, perhaps not.  If you're a fan of socialism, none of
>>> this
>>>> talk about economic numbers matters.  If you want an expert opinion,
>>> call
>>>> George Soros.  He doesn't give a fuck about anything but his bottom
>>> line,
>>>> but, perhaps could give you much better advice.
>>>> 
>>>> Economic news is economic news.  Spin it to suit your needs.  I do!
>>>> 
>>>> Brad
>>>> 
>>>> 
>>>> On 11/9/06, Slim <salm at mn.rr.com> wrote:
>>>>> 
>>>>> On 11/9/06 8:04 AM, "Brad Haslett" <flybrad at gmail.com> wrote:
>>>>> The economy is in excellent shape by all conventional
>>>>>> measures.
>>>>> 
>>>>> Um, Brad, am I missing something?  What part of an 8-trillion-dollar
>>>>> (plus)
>>>>> debt do you see as "excellent?"  That would be an 8 with 14 zeros!  I
>>>>> suppose it's excellent if you're China.
>>>>> 
>>>>> Slim
>>>>> 
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