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Countdown to Bankruptcy: 25 Insane Stories on Wasteful Spending
Mar 30, 2013 05:32:18   #
OPP Newsletter
 
http://www.ijreview.com/2013/03/44144-countdown-to-bankruptcy-25-most-insane-stories-on-wasteful-spending/

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Mar 30, 2013 14:44:05   #
WhoIsJohnGalt
 
While I think that Senator Coburn is right on most of his waste targets, I think that the robotic bee program might well result in something useful. It is not merely building a robot that is the size of a bee, neither is it a program intended to build machines that can emulate the behaviour of bees. It is a program intended to accomplish numerous goals in one program. I am surprised, however, that MIT was not chosen over Harvard for this program.

http://robobees.seas.harvard.edu/

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Mar 30, 2013 21:57:06   #
FarmerBill
 
Doesnt 62 % of the budget go to giveaway programs? Doesnt the Fed borow 40% of the budget? Doesnt that mean we could stop paying for EVERYTHING except what the goverment gives away and the budget still wouldnt be balanced?

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Mar 31, 2013 00:34:34   #
WhoIsJohnGalt
 
Yes. It's worse than you imagine. Every dollar is basically just debt. It is very difficult to get out of debt when the whole of your currency is based on debt. It has been this way since 1913.

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Mar 31, 2013 06:31:19   #
FarmerBill
 
I disagree with you on one point. I think it was more like 1930 and not 1913. But that is a very minor point. Debt isnt bad if the borrowed money is spent on something that increases income or reduceses expences in the long run. Our debt money was not spent on either things. Our countries debt is like a person that spends more than they make to buy a boat a motorcycle and a high priced vacation.

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Mar 31, 2013 09:53:27   #
WhoIsJohnGalt
 
FarmerBill wrote:
I disagree with you on one point. I think it was more like 1930 and not 1913. But that is a very minor point. Debt isnt bad if the borrowed money is spent on something that increases income or reduceses expences in the long run. Our debt money was not spent on either things. Our countries debt is like a person that spends more than they make to buy a boat a motorcycle and a high priced vacation.


You don't understand what I am trying to say. Our money is itself debt. We owe interest on every last dime of it. Every dollar printed is another dollar of debt that we owe the Federal Reserve bank.

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Mar 31, 2013 12:29:04   #
FarmerBill
 
The money we print isnt debt. The money we print is inflation

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Apr 1, 2013 03:22:07   #
WhoIsJohnGalt
 
Pull a bill out of your pocket and read it. It says "Federal Reserve Note." A note is a kind of t***sferable debt. The government borrowed that amount of money from the Federal Reserve Bank, a private entity and not part of the government. So, yes, it is a debt taken out in your name. The money we use is literally written on the skins of our backs.

Were the government to merely print the money and only printed so much of it so that the supply would be limited it would not be borrowed from anyone and it would not inflate. There would be a limited money supply so that wh**ever you saved would amount to something. The money we use now is borrowed from the Federal Reserve so it does not pay to save money. It literally decays while it is in your pocket.

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