As goes the US, so goes the world...and we're about fucked!

[pErvinalia]

Private property doesn't help because in order for the government to appropriate it to pay off the debt, they'd have to pay fair market value for it.

No they don't, they are government. They can raise taxes on anything they want, buy or take anything they want. If they are too overaggressive society might get a bit unstable but guess you need to be careful

Not here. Our government was constituted with a requirement that they can only take private property for a public purpose if they pay fair value for it. We could amend the constitution, but that would be extremely unlikely, given that number of property owners that would be voting on it.

Jonno doesn't understand constitutions. They are just paper or sumfing.

Seriously, Jonno, this is why constitutions are worth more than the paper they are written on. The world isn't a simple mob rule, as you would like to have everyone believe.

[Tero]

Add a few more cans of pea soup to the bunker, Seth.

[cronus]

Wheat prices....thought I'd bring it up.

[JimC]

Wheat prices....thought I'd bring it up.

Oz will be raking it in, hopefully...

[cronus]

Wheat prices....thought I'd bring it up.

Oz will be raking it in, hopefully...

http://www.bbc.co.uk/news/business-24380088

The issues not quantity, actually been reasonable this year for a change, it's the missing US data to accurately set prices and without which can cause wild mood swings in folks setting them prices.

[MrJonno]

Jonno doesn't understand constitutions. They are just paper or sumfing.

Seriously, Jonno, this is why constitutions are worth more than the paper they are written on. The world isn't a simple mob rule, as you would like to have everyone believe.

Governments don't have to do it at gun point, we need more of your money/property to run society. Have an election yes/no if you get taxation with representation.

The world is a more civilised version of mob rule, the mob don't rip your shirt of instead they send you a nice letter, then a warning letter, then a letter saying do you need extra time, then they lock you up and take your shirt

[Audley Strange]

Wheat prices....thought I'd bring it up.

Oz will be raking it in, hopefully...

The LAST thing you lot need is a Golden Age brought in by the Black Abbot.

[fishie]

Wheat prices....thought I'd bring it up.

Oz will be raking it in, hopefully...

When the US goes under, everyone will want the Aussie dollar. And we shall take over the world. And MAKE everyone have BBQs and go to the beach. And footy will be the world game. That and two-up. And plumbers crack will suddenly be sexy.
Well maybe not that, but otherwise it's gonna be awesome!

[cronus]

Says here that Australia is invaded by China in 2023 after the American collapse.

[fishie]

Ya don't wanna believe everything ya read;)

[Collector1337]

Jonno doesn't understand constitutions. They are just paper or sumfing.

Seriously, Jonno, this is why constitutions are worth more than the paper they are written on. The world isn't a simple mob rule, as you would like to have everyone believe.

Governments don't have to do it at gun point,

Umm, yes they do.

we need more of your money/property to run society.

No.

Have an election yes/no if you get taxation with representation.

The world is a more civilised version of mob rule, the mob don't rip your shirt of instead they send you a nice letter, then a warning letter, then a letter saying do you need extra time, then they lock you up and take your shirt

Where you drunk when you typed this?

then they lock you up and take your shirt

Also known as, "do what the mob wants or they will fucking kill you."

[Coito ergo sum]

Jonno doesn't understand constitutions. They are just paper or sumfing.

Seriously, Jonno, this is why constitutions are worth more than the paper they are written on. The world isn't a simple mob rule, as you would like to have everyone believe.

Governments don't have to do it at gun point,

Umm, yes they do.

I usually do not agree with you, but on this point I do. Of course they have to do it at gunpoint. Perhaps not "literally" but the only way for the government to take people's property is if it has the force of law behind them, which requires that if the law is not obeyed that there will be penalties. These penalties will ultimately be enforced at gunpoint. Try to evade taxes. The government will START by sending you letters, but at some point a federal agent shows up with a gun. You will obey, and if not they will use force to compel you, or impose punishments.

[cronus]

Jonno doesn't understand constitutions. They are just paper or sumfing.

Seriously, Jonno, this is why constitutions are worth more than the paper they are written on. The world isn't a simple mob rule, as you would like to have everyone believe.

Governments don't have to do it at gun point,

Umm, yes they do.

I usually do not agree with you, but on this point I do. Of course they have to do it at gunpoint. Perhaps not "literally" but the only way for the government to take people's property is if it has the force of law behind them, which requires that if the law is not obeyed that there will be penalties. These penalties will ultimately be enforced at gunpoint. Try to evade taxes. The government will START by sending you letters, but at some point a federal agent shows up with a gun. You will obey, and if not they will use force to compel you, or impose punishments.

They don't need to shoot or hang many for the message to sink home. Tyranny is mostly about instilling fear at limited cost. Death squads take out a few radicals and the remainder are less radical.

[Seth]

Can someone give me the economics for dummies version of this? Why will money flowing back into the US for investment cause hyperinflation?

Too much cash chasing too few goods. Supply and demand. Cash is not the same thing as wealth.

But you've got lots of goods. A huge pool of unemployed labor; and crumbling infrastructure that needs attending to.

Stopgap band-aid.

That's exactly what we had during the Great Depression. What we got as a result was a lame attempt at socialism (central planning) that actually made things worse and extended the Depression for much longer than necessary.

[Seth]

Jonno doesn't understand constitutions. They are just paper or sumfing.

Seriously, Jonno, this is why constitutions are worth more than the paper they are written on. The world isn't a simple mob rule, as you would like to have everyone believe.

Governments don't have to do it at gun point, we need more of your money/property to run society. Have an election yes/no if you get taxation with representation.

The world is a more civilised version of mob rule, the mob don't rip your shirt of instead they send you a nice letter, then a warning letter, then a letter saying do you need extra time, then they lock you up and take your shirt

Prior to which a dozen or two of the government's jackbooted thug minions get dead. Very quickly the government runs out of people willing to be cannon fodder for the IRS.

Just because the government says it "needs" more money doesn't mean it does, or that it has any right or authority to come take it from me.

That's what brought down Rome in point of fact.