Monday, February 16, 2009

Colyp School of Financial Money - Shoved Farther UPDATE

Colyp's re-emergence from the ethersphere caused me to reflect upon his contributions to the fields of economics and money-stuff. As you all know, Colyp is famous for his intricate system of credit card cash advances whereby a person takes a cash advance from one credit company in order to make his monthly payment to another. I believe he may have won a Noble Prize for his ground-breaking work in this respect. Initially discounted as foolhardy, the Colyp school of financial money has now earned general acceptance as the proper way to finance a society. News reports often lament that the US credit card debt is approx. $1T ($1x10(12th)). With 2.7 x 10(8th) people, this only amounts to less than $4k per person. By contrast, the current national debt is $9.3T and is almost $60T if one includes unfunded Medicaid and Social Security obligations. This would seem unmanageable unless one were to buy into the Colyp school of financial money. Then, it all makes sense.
UPDATE -9/25/2008
The US national debt was around $4Trillion when GeoW took office. Our national debt is now approaching $10Trillion. You personally currently owe about $40,000 in debt plus another $200,000 for Medicaid and Social Security. So does your spouse. So does each of your children. Now the government is asking for and likely to give itself another $3,000 from each of us to buy bonds that nobody else wants to buy. Oh yeah, and they'll need another $4,000 from each of us (oh, what the hell let's make it an even $10,000) to "finish the job" in Iraq.

Any American, such as each of my children, whose net worth is less than $250,000 is insolvent. So, if you're bankrupt, you might as well spend all available funds on a huge party. You're going to default anyway, so why not live it up in the short term.

Colyp, you are a genius.

Shoved Farther UPDATE 2/16/2009

Congress approves printing $789Billion (who are we kidding, let's just call it $1Trillion) to invest in activities that are, by definition, otherwise unworthy of funding. This is in addition to the $700Billion of TARP from November 2008 and $168Billion in rebates from 2008. The Fed, Treasury, and the FDIC spent $3Trillion and pledged $5.7Trillion more. For those of you keeping score at home, this is about $10Trillion that the government has blown through in the past year and a half!?! For comparison purposes, the total value of all good and services produced for an entire year in the US (GDP) is about $14Trillion.

The purpose of this increase in government expenditures is to "stimulate" someone. How will the US ever repay this debt (on top of the Medicaid and Social Security obligations)? A team of Ivy-league trained unicorns will sprinkle productivity dust on the treasury bonds to transform them into butterflies and they will fly to China and die.

Is anyone else finding it increasingly difficult to send in quarterly estimated income tax payments?


colpliscol said...

It wasn't me. It was the director of the Banco de Al. He came up with the whole idea and bankrolled it all. That is one bank that ain't a failin'.

Doc Bok said...

I have always found it difficult to hand over my money to the government. At least they're using it responsibly.

Facts are facts. My money and your money, and Alceste's money is, to the government, "other people's money". Hence Colyp.

Litzi said...
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Litzi said...
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Alceste said...

Colyp-I have everything under control.