why do we let our stupid governments borrow money?

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kiryan
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why do we let our stupid governments borrow money?

Postby kiryan » Sun Jan 25, 2009 7:03 am

I really hate how our city/county/state governments borrow money and pay interest. Wasting our money on interest.
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Re: why do we let our stupid governments borrow money?

Postby Gormal » Sun Jan 25, 2009 7:32 am

I really hate how you make a new thread for every tiny political gripe imaginable.
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Re: why do we let our stupid governments borrow money?

Postby Sarvis » Mon Jan 26, 2009 8:08 pm

Don't worry, as annoying as Kiryan's little trollbait posts are... you "I don't want anyone posting anything I don't like" people seem to be winning. Two posts total in 3 days... wheeeeeee!
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Re: why do we let our stupid governments borrow money?

Postby Thilindel » Mon Jan 26, 2009 9:55 pm

I really hate how people try to troll and police when others post.
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Re: why do we let our stupid governments borrow money?

Postby teflor the ranger » Mon Jan 26, 2009 9:59 pm

We let our governments borrow money to deal with emergencies they could not otherwise handle. Unfortunately, this is frequently abused for non-emergency situations and often governments don't make repaying low-interest loans a very high priority.

Also, the Federal government's treasury bonds also provide a financial stability service for the public and foreign entities.
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Re: why do we let our stupid governments borrow money?

Postby avak » Mon Jan 26, 2009 10:17 pm

I hate to say it, but I looked back at threads Gormal started and he's got a point...he clearly understands entertainment.

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Re: why do we let our stupid governments borrow money?

Postby Alta » Mon Jan 26, 2009 10:23 pm

wrong login
kiryan
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Re: why do we let our stupid governments borrow money?

Postby kiryan » Mon Jan 26, 2009 10:24 pm

How do you feel about NY possibly wasting 200 million dollars by 2010 depending on how some bond payments go or don't go? California I believe spent like 400 million dollar in debt service last year. How much of the federal budget is dedicated to debt service. My local governments consistently take out levies so they can take out loans to do things like school maintenance and building. Its just really irritating that our governments spend everything they can to the point they have to take out loans to do anything else. I think its time people started having a cow about wasting our tax money on interest.

If you don't like political threads, then ignore me and quit bitching. I like to see what other people think about different things.
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Re: why do we let our stupid governments borrow money?

Postby amena wolfsnarl » Mon Jan 26, 2009 11:35 pm

Currently Vancouver is borrowing 450 million dollars to complete the athletes village for the 2010 olympics, thats on top of the other money that theyve already borrowed to build the new roads, olympic venues and other developments for the olympics. it took Montreal over 30 years to pay back all the loans that i took out for thier olympics and it was estimated at paying it something like 175% of the amount loaned (not 100% sure on that number)

Meanwhile in Jamica they are facing a huge problem because of borrowing money from the World Bank and the International Monetary Fund, the banks are imposing regulations on Jamaica so that they cannot develop thier country the way that they see fit. They are trying to tell jamaica that they know what is right for them and trying to force them to become dependant on imported goods even though they can grow what is neccessary there themselves.

I think that the problems that the united states and canada are facing are not nearly in the same league that other 3rd world nations are facing, when they have no room to negotiate the terms of thier loans and are forced to continue to do business with these people with harsher and harsher restrictions. The interest rate at which the government must force on the people borrowing money from them is dictated to them so the government borrows at 12% but must charge thier farmers and other business owners 23% to borrow money in any nation 23% interest is an absurb concept under which to try and do business. And bringing foreign investors into the market is not a very valid concept as most of the 3rd worlds developing businesses are low profit farming

Recently the Congo ( i think it was) was having the same problem with the IMF, and rather than follow the terms set by the IMF they said fuck it im doin this my way, the congo gave its farmers the money that was needed and started to become a self sufficient society.
Im still a believer in the rule that a country wants to export more finished goods and raw materials than it imports, to me this is a good way to do business make other people more dependant on you than you are on them.

Just some of my random comments on borrowing money. Trust me the 200 million dollar loan that new york is doing it nothing compared to the issues that they face. In jamaica for every dollar that they make $.53 goes to debt servicing and it is only getting worse due in large part to the people at the IMF and the world bank dictating these terms to them.
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Re: why do we let our stupid governments borrow money?

Postby Lathander » Fri Jan 30, 2009 3:44 am

Actually, municipal debt is pretty cool. Triple tax free interest!

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