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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: My perspective on money is the same as my grandfather.

    If you don't physically have the money in your hand then you don't have it.
    If you can afford it, look around and you'll find the same/equal/better for less.
    If you can't afford it, then don't buy it..

    To this day (Although still in my 20's), I have never had a mortgage, loan, credit card or contract.
    I've never borrowed money and I've never lent money (beyond marginal amounts, that is, I'm not an a$$).
    Besides this, I have a highschool, college and university education, a series of other qualifications, a car, a place to live, savings, my bills paid..
    (and no, no parents etc etc were financially involved)

    I never accept the argument that you need credit (and by extension, debt) to survive.
    If you find yourself going into debt its because you need a reality check.
    Most likely because you think you can live a higher life than you can afford or because you waste your money on nonsense for irrational reasons.

    If you can afford to buy a jet ski when you live in a city, a 70inch tv, a brand new second car, buy take-out every night and buy a 6-bedroom house for just you and your dog, then by all means go nuts, live life to the full.
    But don't complain to me when you're debt-ridden because you're doing it on a $20,000 a year salary..
    • Jan 9 2013: Part four:

      Question:

      To whom they paying the interest? (I believe to the Central Banks)
      Question again Who own the Central Banks?

      Here is the link to the list of Central banks.

      http://www.centralbanksguide.com/central+banks+list/


      Question:

      Total Government debt in the World over 50 Trillion Dollar. ( who knows the real number? )
      Question: Who had this money to lend? Nobody. The money based on debt. How banks create money from thin air?
      (See on YouTube: Money as Debt)
      Most of us don’t know what Fractional Reserve Banking System.
      Would you be surprised if I will tell you the entire banking system design to do one thing and one thing only put you and your family, your Companies and your Country in DEBT.

      Different subject:

      Question:

      We know the US government barrow money from FED to fight the wars. But where is the money coming for the other side?
      Who gives money to our enemy? Please don't say those governments. Every government is in debt. So they have to barrow money from they Central Banks.

      Question: who own those banks?
    • Jan 9 2013: Xavier

      That might work for you personally but your avg consumer is in the quicksand and has been trained to sit there and enjoy it. As tech advances the ability to predictively manipulate and optimize manipulation of the consumer increases

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