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Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"

 
Anonymous Coward
User ID: 23771294
United States
09/19/2013 03:17 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
Typical "ghetto" mentality!!! Seriously, this clown is delusional!!!!!

Article: [link to cnsnews.com]
 Quoting: Anonymous Coward 25720208


Lol... No goofball. It DOESNT raise our debt.

#1. Google "the expanded accounting equation" and study it until you understand it both in terms of how to balance it mathematically as well as in terms of its philosophical implications. (Assets = Liabilities + Owner's Capital + Revenues – Expenses – Owner's Draws). Here is a link to get you started. [link to www.accountingcoach.com]

#2. Pay special attention to the "assets = liabilities" part.

#3. Familiarize yourself with how ALL currency-run economies issue said currency, irrespective of whether that currency is fiat, gold/silver backed, or backed by another currency. (Hint: they issue BONDS of various types, durations, and pay-outs).

#4. Learn about what a bond actually IS. For the issuer of a bond (in this case the government issuing the currency) a bond is a DEBT. For the bond holder a bond is an INVESTMENT. Assets = Liabilities, remember?

#5. Learn about the Time Value of Money (TVM) equations. Study them until you get to the point where you unequivocally understand that the "DETAILS" of a debt/liability such as interest rate, term, duration, dividends, opportunity cost, and how interest is compounded is far more mathematically significant than the face value of said bond or security in determining whether it's a GOOD investment or a bad one.

#6. Learn about how the "rules" change in the world around you when applied to microcosms and macrocosms. Economics and finance are very much like physics this way. Relativity does an excellent job of explaining the universe on a grand scale as it relates to solar systems and galaxies...but is wholly inadequate to explain the quantum world. Similarly, Newtonian physics does the best job of explaining our day to day observable realities on our morning commutes.

#7. Understand that applying the "rules" of household finance to micro and macro economics is like trying to explain to your boss that you aren't late for work, because Time is Relative and mathematically can be converted to Space, hence Time is really more of a shape than anything else.
chuckles45

User ID: 2417276
United States
09/19/2013 03:30 PM

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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
Typical "ghetto" mentality!!! Seriously, this clown is delusional!!!!!

Article: [link to cnsnews.com]
 Quoting: Anonymous Coward 25720208


Lol... No goofball. It DOESNT raise our debt.

#1. Google "the expanded accounting equation" and study it until you understand it both in terms of how to balance it mathematically as well as in terms of its philosophical implications. (Assets = Liabilities + Owner's Capital + Revenues – Expenses – Owner's Draws). Here is a link to get you started. [link to www.accountingcoach.com]

#2. Pay special attention to the "assets = liabilities" part.

#3. Familiarize yourself with how ALL currency-run economies issue said currency, irrespective of whether that currency is fiat, gold/silver backed, or backed by another currency. (Hint: they issue BONDS of various types, durations, and pay-outs).

#4. Learn about what a bond actually IS. For the issuer of a bond (in this case the government issuing the currency) a bond is a DEBT. For the bond holder a bond is an INVESTMENT. Assets = Liabilities, remember?

#5. Learn about the Time Value of Money (TVM) equations. Study them until you get to the point where you unequivocally understand that the "DETAILS" of a debt/liability such as interest rate, term, duration, dividends, opportunity cost, and how interest is compounded is far more mathematically significant than the face value of said bond or security in determining whether it's a GOOD investment or a bad one.

#6. Learn about how the "rules" change in the world around you when applied to microcosms and macrocosms. Economics and finance are very much like physics this way. Relativity does an excellent job of explaining the universe on a grand scale as it relates to solar systems and galaxies...but is wholly inadequate to explain the quantum world. Similarly, Newtonian physics does the best job of explaining our day to day observable realities on our morning commutes.

#7. Understand that applying the "rules" of household finance to micro and macro economics is like trying to explain to your boss that you aren't late for work, because Time is Relative and mathematically can be converted to Space, hence Time is really more of a shape than anything else.
 Quoting: Anonymous Coward 23771294


Translation:

ocrocka
Idealism is a wonderful thing, as long as you have someone rational to put it to good use.
Anonymous Coward
User ID: 47107726
Thailand
09/19/2013 03:37 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
Apparently the debt ceiling will have to be raised to pay for things that Congress already appropriated money for such as military expenditures. During the Bush admin. congress was appropriating 50 billion a month to pay for illegal wars and every penny of it raised the deficit and subsequently the debt.
 Quoting: Northman
Bullshit, the entire appropriation for both wars was roughly $100 billion/year. That's about what Obama adds to the debt per month.
Anonymous Coward
User ID: 1347486
United States
09/19/2013 03:45 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
He's actually right - the debt ceiling is really just a symptom, not the disease. The disease is spending - raising the debt ceiling just means you're giving the green light to pay already incurred debt. BUT the problem is, each time you do raise, the thought process is "let's spend - we'll just have to raise the debt ceiling next time to "pay" it back". That's the delusional part.
 Quoting: Anonymous Coward 17110902


Was about to explain this, too, but you've said it well.
Anonymous Coward
User ID: 21902736
United States
09/19/2013 03:51 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
You guys reek of stupidity.
Instant Karma
For now we see through a glass, darkly

User ID: 30388691
United States
09/19/2013 03:58 PM

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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
Newsflash: Congress controls spending. Not the executive branch. The Republican controlled House is politicizing the debt ceiling which was raised many times under Bush without controversy. They want to hold the government hostage to their demands.
Dollar Deception: How Banks Secretly Create Money:

[link to www.webofdebt.com]

mobius-gears
Anonymous Coward
User ID: 35657107
Canada
09/19/2013 04:10 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
Typical "ghetto" mentality!!! Seriously, this clown is delusional!!!!!

Article: [link to cnsnews.com]
 Quoting: Anonymous Coward 25720208


Lol... No goofball. It DOESNT raise our debt.

#1. Google "the expanded accounting equation" and study it until you understand it both in terms of how to balance it mathematically as well as in terms of its philosophical implications. (Assets = Liabilities + Owner's Capital + Revenues – Expenses – Owner's Draws). Here is a link to get you started. [link to www.accountingcoach.com]

#2. Pay special attention to the "assets = liabilities" part.

#3. Familiarize yourself with how ALL currency-run economies issue said currency, irrespective of whether that currency is fiat, gold/silver backed, or backed by another currency. (Hint: they issue BONDS of various types, durations, and pay-outs).

#4. Learn about what a bond actually IS. For the issuer of a bond (in this case the government issuing the currency) a bond is a DEBT. For the bond holder a bond is an INVESTMENT. Assets = Liabilities, remember?

#5. Learn about the Time Value of Money (TVM) equations. Study them until you get to the point where you unequivocally understand that the "DETAILS" of a debt/liability such as interest rate, term, duration, dividends, opportunity cost, and how interest is compounded is far more mathematically significant than the face value of said bond or security in determining whether it's a GOOD investment or a bad one.

#6. Learn about how the "rules" change in the world around you when applied to microcosms and macrocosms. Economics and finance are very much like physics this way. Relativity does an excellent job of explaining the universe on a grand scale as it relates to solar systems and galaxies...but is wholly inadequate to explain the quantum world. Similarly, Newtonian physics does the best job of explaining our day to day observable realities on our morning commutes.

#7. Understand that applying the "rules" of household finance to micro and macro economics is like trying to explain to your boss that you aren't late for work, because Time is Relative and mathematically can be converted to Space, hence Time is really more of a shape than anything else.
 Quoting: Anonymous Coward 23771294


You fail to realize that debt is debt.

Assets do not = liabilities

Assets = liability + Owners equity


When you take out 1 million dollars to pay for police services the balance sheet and journal entry would be:

Balance sheet as at (to account for loan payable:
Assets Liabilities + Owners Equity
100 50 50


Debt Owners Equity 1,000,000
Credit Police Payable 1,000,000

Balance sheet as at (to account for loan payable:
Assets Liabilities + Owners Equity
100 1,000,050 (999,950)
(owed to police)

Journal Entries

Debit Cash 1,000,000
Credit Bank payable 1,000,000

Balance sheet as at:
Assets Liabilities + Owners Equity
1,000,100 2,000,050 (999,959)

Debit Police Services Payable 1,000,000
Credit Cash 1,000,000


Ending balance sheet

Assets Liabilities + Owners Equity
100 1,000,050 (999,959)
(owed to bank)



Owners equity has been decreased by $999,950 by taking the loan out. The loan is payable, and showing as a liability on the balance sheet.

This has created 1,000,000 of debt, decreasing the shareholders portion of ownership by 1,000,000. The shareholder in this case is the taxpayer.
Anonymous Coward
User ID: 14642392
United States
09/19/2013 04:19 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
suck it!
odance
Morpheus

User ID: 729560
Canada
09/19/2013 04:25 PM

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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
How stupid does this clown and his minions think the American people are.

I am going to call the bank and ask them to raise my credit cards limit. I am then going to ask them if I use it up to my credit limit does that mean I am more in debt? If they say yes I am going to say to them "that Obama says this won't increase my debt"


BOBO
Anonymous Coward
User ID: 44110959
United States
09/19/2013 04:39 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
Raising the speed limit on a highway doesn't force anyone to drive faster, but every time speed limits are raised the average speed people drive increases. It is as certain as night follows day.
Anonymous Coward
User ID: 23771294
United States
09/19/2013 05:01 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
Typical "ghetto" mentality!!! Seriously, this clown is delusional!!!!!

Article: [link to cnsnews.com]
 Quoting: Anonymous Coward 25720208


Lol... No goofball. It DOESNT raise our debt.

#1. Google "the expanded accounting equation" and study it until you understand it both in terms of how to balance it mathematically as well as in terms of its philosophical implications. (Assets = Liabilities + Owner's Capital + Revenues – Expenses – Owner's Draws). Here is a link to get you started. [link to www.accountingcoach.com]

#2. Pay special attention to the "assets = liabilities" part.

#3. Familiarize yourself with how ALL currency-run economies issue said currency, irrespective of whether that currency is fiat, gold/silver backed, or backed by another currency. (Hint: they issue BONDS of various types, durations, and pay-outs).

#4. Learn about what a bond actually IS. For the issuer of a bond (in this case the government issuing the currency) a bond is a DEBT. For the bond holder a bond is an INVESTMENT. Assets = Liabilities, remember?

#5. Learn about the Time Value of Money (TVM) equations. Study them until you get to the point where you unequivocally understand that the "DETAILS" of a debt/liability such as interest rate, term, duration, dividends, opportunity cost, and how interest is compounded is far more mathematically significant than the face value of said bond or security in determining whether it's a GOOD investment or a bad one.

#6. Learn about how the "rules" change in the world around you when applied to microcosms and macrocosms. Economics and finance are very much like physics this way. Relativity does an excellent job of explaining the universe on a grand scale as it relates to solar systems and galaxies...but is wholly inadequate to explain the quantum world. Similarly, Newtonian physics does the best job of explaining our day to day observable realities on our morning commutes.

#7. Understand that applying the "rules" of household finance to micro and macro economics is like trying to explain to your boss that you aren't late for work, because Time is Relative and mathematically can be converted to Space, hence Time is really more of a shape than anything else.
 Quoting: Anonymous Coward 23771294


Translation:

ocrocka
 Quoting: chuckles45


Not at all...I can't STAND Obama.

The correct translation is:

"Read a book...you embarass people who are opposed to Obama who aren't stupid".
Hard Eight

User ID: 35278639
United States
09/19/2013 05:01 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
How stupid does this clown and his minions think the American people are.

I am going to call the bank and ask them to raise my credit cards limit. I am then going to ask them if I use it up to my credit limit does that mean I am more in debt? If they say yes I am going to say to them "that Obama says this won't increase my debt"


BOBO
 Quoting: Morpheus


Must be true. Aren't we told he is the most brilliant man-god to ever walk the planet?
Texas has yet to learn submission to any oppression, come from what source it may.
Sam Houston

"The beauty of the Second Amendment is that it will not be needed until they try to take it."
Thomas Jefferson
Anonymous Coward
User ID: 23771294
United States
09/19/2013 05:07 PM
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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
Typical "ghetto" mentality!!! Seriously, this clown is delusional!!!!!

Article: [link to cnsnews.com]
 Quoting: Anonymous Coward 25720208


Lol... No goofball. It DOESNT raise our debt.

#1. Google "the expanded accounting equation" and study it until you understand it both in terms of how to balance it mathematically as well as in terms of its philosophical implications. (Assets = Liabilities + Owner's Capital + Revenues – Expenses – Owner's Draws). Here is a link to get you started. [link to www.accountingcoach.com]

#2. Pay special attention to the "assets = liabilities" part.

#3. Familiarize yourself with how ALL currency-run economies issue said currency, irrespective of whether that currency is fiat, gold/silver backed, or backed by another currency. (Hint: they issue BONDS of various types, durations, and pay-outs).

#4. Learn about what a bond actually IS. For the issuer of a bond (in this case the government issuing the currency) a bond is a DEBT. For the bond holder a bond is an INVESTMENT. Assets = Liabilities, remember?

#5. Learn about the Time Value of Money (TVM) equations. Study them until you get to the point where you unequivocally understand that the "DETAILS" of a debt/liability such as interest rate, term, duration, dividends, opportunity cost, and how interest is compounded is far more mathematically significant than the face value of said bond or security in determining whether it's a GOOD investment or a bad one.

#6. Learn about how the "rules" change in the world around you when applied to microcosms and macrocosms. Economics and finance are very much like physics this way. Relativity does an excellent job of explaining the universe on a grand scale as it relates to solar systems and galaxies...but is wholly inadequate to explain the quantum world. Similarly, Newtonian physics does the best job of explaining our day to day observable realities on our morning commutes.

#7. Understand that applying the "rules" of household finance to micro and macro economics is like trying to explain to your boss that you aren't late for work, because Time is Relative and mathematically can be converted to Space, hence Time is really more of a shape than anything else.
 Quoting: Anonymous Coward 23771294


You fail to realize that debt is debt.

Assets do not = liabilities

Assets = liability + Owners equity


When you take out 1 million dollars to pay for police services the balance sheet and journal entry would be:

Balance sheet as at (to account for loan payable:
Assets Liabilities + Owners Equity
100 50 50


Debt Owners Equity 1,000,000
Credit Police Payable 1,000,000

Balance sheet as at (to account for loan payable:
Assets Liabilities + Owners Equity
100 1,000,050 (999,950)
(owed to police)

Journal Entries

Debit Cash 1,000,000
Credit Bank payable 1,000,000

Balance sheet as at:
Assets Liabilities + Owners Equity
1,000,100 2,000,050 (999,959)

Debit Police Services Payable 1,000,000
Credit Cash 1,000,000


Ending balance sheet

Assets Liabilities + Owners Equity
100 1,000,050 (999,959)
(owed to bank)



Owners equity has been decreased by $999,950 by taking the loan out. The loan is payable, and showing as a liability on the balance sheet.

This has created 1,000,000 of debt, decreasing the shareholders portion of ownership by 1,000,000. The shareholder in this case is the taxpayer.
 Quoting: Anonymous Coward 35657107


Lol...no...you are incorrect. Read the whole post.

Assets = Liabilities + Owner's Capital + Revenues – Expenses – Owner's Draws

...and the "shareholder" is the BOND holder, ya' goof.
Instant Karma
For now we see through a glass, darkly

User ID: 30388691
United States
09/19/2013 09:02 PM

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Re: Obama: "Raising the Debt Ceiling...Does Not Increase Our Debt"
Typical "ghetto" mentality!!! Seriously, this clown is delusional!!!!!

Article: [link to cnsnews.com]
 Quoting: Anonymous Coward 25720208


Lol... No goofball. It DOESNT raise our debt.

#1. Google "the expanded accounting equation" and study it until you understand it both in terms of how to balance it mathematically as well as in terms of its philosophical implications. (Assets = Liabilities + Owner's Capital + Revenues – Expenses – Owner's Draws). Here is a link to get you started. [link to www.accountingcoach.com]

#2. Pay special attention to the "assets = liabilities" part.

#3. Familiarize yourself with how ALL currency-run economies issue said currency, irrespective of whether that currency is fiat, gold/silver backed, or backed by another currency. (Hint: they issue BONDS of various types, durations, and pay-outs).

#4. Learn about what a bond actually IS. For the issuer of a bond (in this case the government issuing the currency) a bond is a DEBT. For the bond holder a bond is an INVESTMENT. Assets = Liabilities, remember?

#5. Learn about the Time Value of Money (TVM) equations. Study them until you get to the point where you unequivocally understand that the "DETAILS" of a debt/liability such as interest rate, term, duration, dividends, opportunity cost, and how interest is compounded is far more mathematically significant than the face value of said bond or security in determining whether it's a GOOD investment or a bad one.

#6. Learn about how the "rules" change in the world around you when applied to microcosms and macrocosms. Economics and finance are very much like physics this way. Relativity does an excellent job of explaining the universe on a grand scale as it relates to solar systems and galaxies...but is wholly inadequate to explain the quantum world. Similarly, Newtonian physics does the best job of explaining our day to day observable realities on our morning commutes.

#7. Understand that applying the "rules" of household finance to micro and macro economics is like trying to explain to your boss that you aren't late for work, because Time is Relative and mathematically can be converted to Space, hence Time is really more of a shape than anything else.
 Quoting: Anonymous Coward 23771294


You fail to realize that debt is debt.

Assets do not = liabilities

Assets = liability + Owners equity


When you take out 1 million dollars to pay for police services the balance sheet and journal entry would be:

Balance sheet as at (to account for loan payable:
Assets Liabilities + Owners Equity
100 50 50


Debt Owners Equity 1,000,000
Credit Police Payable 1,000,000

Balance sheet as at (to account for loan payable:
Assets Liabilities + Owners Equity
100 1,000,050 (999,950)
(owed to police)

Journal Entries

Debit Cash 1,000,000
Credit Bank payable 1,000,000

Balance sheet as at:
Assets Liabilities + Owners Equity
1,000,100 2,000,050 (999,959)

Debit Police Services Payable 1,000,000
Credit Cash 1,000,000


Ending balance sheet

Assets Liabilities + Owners Equity
100 1,000,050 (999,959)
(owed to bank)



Owners equity has been decreased by $999,950 by taking the loan out. The loan is payable, and showing as a liability on the balance sheet.

This has created 1,000,000 of debt, decreasing the shareholders portion of ownership by 1,000,000. The shareholder in this case is the taxpayer.
 Quoting: Anonymous Coward 35657107


Banks create the money out of nothing. Debt is an illusion and a scam. Our monetary system is a pyramid scheme that is about to collapse.

debt-saturation


See link in signature.

Last Edited by Instant Karma on 09/19/2013 09:10 PM
Dollar Deception: How Banks Secretly Create Money:

[link to www.webofdebt.com]

mobius-gears

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