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Joe Nobody

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The laughable debate about the USA national debt.... Part one

(First of all I have to apologize for my poor English but I'm from Europe

I decided to join the TED family, I saw a lot of interesting videos on Wimp.com so I started to visit the TED web site and I find fascinating.
Long time ago I had search on the web about the enormous debt in America, and I would like to share a few thoughts about the subject.

I watched soooooo many CNN, FOX, MSNBC debates, reports, comments, and find absolutely shocking the fact, NOBODY talk about the real reason why we are in debt. As a matter affect why is the whole World in debt? Is that normal as soon as an average citizen enter in to the school or work area they are in debt in they rest in they life. Mortgage, student loan, car loan, business loan, appliances, medical bills, EVERYTHING.
Familiar?
“ To order, have your credit card ready it’s sooo easy….”
“ You can earn double miles on this card,
“ Save 1% on this, 2% on that, 3% on whatever..

Currently amounts to a total credit card debt of about 962 billion dollars. The average credit card debt per credit card owning household is 14,750 dollars. This is the total credit card debt divided by the number of households with credit cards. Credit card penalty fees in the US add up to about 20.5 billion dollars a year.

Approximately 609.8 million credit cards are currently in use in the United States, with credit card users having an average of 3.5 cards each. There are about 176.8 million credit card users in the US. Every year, about 5 billion credit card solicitations are mailed in the USA.

Students are particularly likely to have credit card debts and they are also likely to have multiple credit cards. The average credit card debt of a new graduate is 4100 dollars, with about 20 percent of graduates having credit card debts of more than 7000 dollars.
Most of us in debt, in the rest of our life.

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    Jan 9 2013: If theres one thing I've learnt in life so far, its that people don't buy expensive things for themselves, they buy things so others can see how expensive it was.
    An artificial attempt at self-worth and self-value, because you've sacrificed everything thats 'you' (your interests, your dreams, your family, your life) just so you can make more money and buy more crap, which quickly becomes your way of trying to fill the unfillable void of what you've lost (because consumerism never ends) that you created by being caught up in a world of 'You can put a price tag on happiness'.
    The ultimate crock of **** our society demands of us.

    Moneys not just the root of all evil, its the root of all distraction,
    The distraction that stops us from sitting down at the table and really wondering
    'Why the hell am I working 60 hours a week, sitting in traffic 2 hours a day, working for a jackass in a tedious job which allows no creativity and has no value, being away from my interests and friends and family, stressing myself out, losing sleep, damaging my health, wasting my life...Just so I can get a new phone inwhich its sole difference with the one I bought 4 months ago is an add-on that has no observable benefit to me...??'..
    • Jan 9 2013: Dear Xavier!My article have a few more parts, but I can't see, so I'll continue that through an answer.

      Part three:

      Most people assume that the Federal Reserve Bank is federal--that is, part of the United States' government. However, the Ninth Circuit Court put that issue to rest in 1982 when they adjudicated:
      "Examining the organization and function of the Federal Reserve Banks, and applying the relevant factors, we conclude that the Reserve Banks are not federal instrumentalities for purposes of the FTCA, but are independent, privately-owned and locally controlled corporations." [Lewis vs. U.S., 680 F. 2d 1239, 1241]

      Let's step outside for a moment and look at globally.

      Question:

      How many countries on Earth? (In the UN around 200)
      How many have Central Banking System? (Pretty much all)


      Is there a Country without Government Debt? (NONE)

      The interest the countries paid over 7 Trillion dollar (one year) according the last data. The total interest US have to pay in the near future maybe 8 years from now will be over 1.3 Trillion dollars. Per year. Please don’t tell Chinese investors. Chine own about 10% of national debt.
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      Jan 9 2013: I agree with you but it's not a strictly American issue. The need for status is hard-wired into our DNA. When our ancestors could display status to their tribe they were considered the best mates. It's an evolutionary behavior that comes from our "Reptile brain".

      The problem is our "reptile brain" works subconsciously and first.
      • Jan 10 2013: Yeah, seriously, we have that "Look at me!" instinct. There's ways to get around that though if you work at it. You don't have be a self-centered animal your whole life, there's always ways to progress and change.
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          Jan 10 2013: Completely agree, but people have to first be made aware then taught to think critically about there behaviors....that's why ted is awesome :)

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