Canceling Student Debt 2

What does the national media continue to scare us about the national debt?

Why does the national media continually focuses on the national debt?

They need to do this so that they can bring up the specter of the enormous national debt at their convenience.

If you’ll notice, they never bring up the issue of the national debt when it comes to military spending, funding of Ukraine, or their own pay raises.

The specter of the national debt is only brought up when they need it to be brought up.

When do they need it to be brought up?

When there is a bill proposed that helps out the American people.

Such as?

Eliminating the homeless.

Canceling student debt.

Affordable healthcare for all.

When these issues arise, issues that would help even the playing field between the rich and the poor, then the national debt becomes the all important issue.

That’s why they need the issue of the national debt.

Of course, the national debt issue is a bogus issue.

As explained previously the issue is bogus because the national debt is never meant to be paid off.

In fact, increasing the national debt can be a valuable tool to equaling the playing field between rich and poor.

For example, suppose that I printed up $35 trillion and gave it all to the middle-class and poor. What would be the effect of that?

I picked $35 trillion in order to make the division easier. Let’s divide $35 trillion by 350,000,000 people.

That’s $100,000 for each and every American.

What does that have the effect of doing?

It helps level the playing field between rich and poor.

It gives a big boost to the middle class and poor.

It helps make up for all the robbery that the rich have been engaging in.

You heard me right. The rich have been robbing the poor and middle class through exorbitant government contracts.

Government contracts are what made the Dupont family rich.

Government contracts are what made Brown and Root rich.

Government contracts are what made the Steinbriner family rich. You probably thought George Steinbrinner was just the former owner of the Yankees. No way, baby. His family made their money building Navy ships.

Why shouldn’t you get in on the action?

Now, I’m not advocating that we print up $35 trillion for people to go to Vegas.

But I think it would be a good idea to invest in projects that would benefit the people.

Those projects involve student debt relief, comprehensive healthcare for all, high speed rail, fixing the homeless.

What’s wrong with that?

Don’t be dissuaded by the bogus argument of increasing the national debt.

It’s a bogus issue.

Bogus. Bogus. Bogus.

Sincerely,

Archer Crosley

Copyright 2022 Archer Crosley All Rights Reserved

Canceling Student Debt

The recent proposal to alleviate student debt up to $20,000 per student is a good deal for students and for the United States of America.

It was a long time coming.

Conservatives, and I am one of them, shouldn’t oppose this deal simply to oppose it.

That’s what people like Sean Hannity want you to do.

How is it a bad deal to give a break to young people saddled with student debt?

It’s what Trump should’ve done.

To begin with the student’s tuitions were jacked up by the crooks at the schools and the banks.

They made out like bandits on this unholy alliance.

That’s one reason why schools were able to fund all these building projects on their campuses.

You’ve heard of Girls Gone Wild. Welcome to Buildings Gone Wild.

It was the students who got screwed.

You don’t need expensive buildings to educate students. Furthermore the problem with expensive buildings is that they require expensive maintenance.

Wise sages in Greece didn’t need expensive event centers in order to teach their students. Teaching under a tree was good enough.

What happened in our country though was that schools got addicted to money. So they increased tuition costs unnecessarily in order to feed their addiction.

Much of that money went into building unnecessary gymnasiums, media event centers, and fancy administration buildings.

The students got screwed.

Printing up money to help these poor students out is a good thing.

Conservatives would have you believe that ultimately we the American taxpayers are going to pay the debt.

That’s not true at all.

In reality, nobody’s going to pay this debt.

The money will be fabricated out of thin air by the Treasury Department and Federal Reserve in order to pay off this student loan debt.

The national debt will increase, but so what?

The national debt is not like the debt that you owe for your house or your car.

In the case of your house and car, that’s a debt that you need to pay back.

In contrast the national debt is a debt that is never going to be paid back.

The national debt never needs to be paid back because it’s never meant to be paid back.

The national debt is a giant Ponzi scheme, only in this case the Ponzi scheme artists are us.

If the national debt rises to $30 trillion, all we need do is print up $30 quadrillion in order to make that debt more insignificant.

Then in 50 to 75 years, when the national debt is equal to 30 quadrillion dollars, people in the future will print up $30 quintillion to make that debt more insignificant.

The national debt, something that the media obsesses over, is something you should never be worried about.

What you should be worried about is where the money goes.

Printing up money to alleviate student debt is a good thing because it puts more money in the hands of regular people.

I’ve written this explanation before, and it bears repeating.

Is there is a net $100 in society, and you have $50, and I have $50, then we both have an equal share in society.

If I print up $100 and give it all to myself then there’s a net $200 in society. Yet I now have $150 where is you have $50. I win.

Do you get it?

It doesn’t matter how much money we print; what counts as where it goes.

If I print up $100 trillion and give it to the rich, then regular people lose. On the other hand if we print print up $100 trillion and give it to the poor, then the rich lose.

Consequently, alleviating student debt, which effectively puts money in regular peoples hands, benefits regular people, not the rich.

Why would we oppose that?

Please, please, please, please, get out of this mindset of just listening to either Fox News or CNN, whose job is to create a mindless sporting match out of politics.

You won’t learn anything there.

Think through the issue yourself.

Alleviation of student debt is a good thing.

It would’ve been a better thing had Biden canceled it all.

Yes, I know, what about the people who already paid?

I agree with you. For that reason, I would recommend giving an equal amount of money in cash payments to those people who already did pay.

Short of that, it’s better that we alleviate student debt.

It’s a good move for regular people.

Sincerely,

Archer Crosley

Copyright 2022 Archer Crosley All Rights Reserved

The Big Bogus

The size of the national debt is a bogus issue.

It was a bogus issue in the 1980s; it’s a bogus issue today.

The elites love to talk about the size of the national debt in order to make you uneasy.  

The uneasier you are, the weaker you are, the better it is for them.

They constantly talk about the national debt.

They place large scrolling signs in the bigger cities that regularly update the national debt to the public.

Stop listening to them.

The national debt is not the same as your debt.

It’s not the same because the federal government can print new money; you can’t.

If you owe $100,000 on your house, you can’t print up $100,000 to pay it off.

The federal government can, and it does.

Moreover it doesn’t even care about piling up debt because the debt is not there to be paid off.

Let me explain.

Let’s say that the national debt is five billion dollars.  How do you make that insignificant? You do so by printing up five trillion dollars.  

Now let’s move forward. How do you make five trillion dollars seem insignificant? You do so by printing up five quadrillion dollars.

You can play this game in perpetuity.  As you can see, the national debt never gets paid off. That’s the whole point. It’s a scheme that avoids that pain.

There is nothing inherently wrong in borrowing money.  What counts in the national debt is what you are spending the money on and who gets it.

If you are spending the money on a bender in Las Vegas, that is a poor investment.

On the other hand, if you are spending the money on education, that is a good investment.

Who gets the money?

Does the money go to wealthy elites as it did in 2008?

Or does it go to regular people in paying off their mortgages as it should have done in 2008, but, of course, did not.

When we invest in war abroad, that is a poor investment in money. It is so because the elites skim an inordinate amount off the top for themselves. Also, at the end of the war all you are left with is a pile of rusted metal junk. Plus many lives have been lost.

When we invest in education and healthcare domestically in a decentralized manner which allows individual citizens to choose their healthcare or education, that is a wise  investment of money.   It is so because it prevents elites from skimming too much money off the top.  Also, at the end of the day we have healthier, smarter people – always a matter of concern to the elites.

So when the media speaks about the national debt, don’t get freaked out. Ask yourself what are we investing in and who is getting the money.

When you do that, you will be smarter than your average bear.

 

 

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