Interesting short lecture on government debt

Video published on Oct 16, 2017

Gold and Silver

Prof. Antony Davies explains: Myth 1 is that the government owes “only” $20 trillion. (In reality, it’s much more.) But luckily, Myth 10 is that there’s no way to fix this problem…

The video is in regard to the United States federal government.

For example, the Professor opines (paraphrased):

'Unfunded obligations' is promised funds that the federal government does not have and will not have available to pay. The Professor suggests the overall federal government debt is actually approximately 150 trillion.

US government (s) debt obligations, federal, separate government agencies, state and local governments is approximately 165 trillion.

When the federal government prints too much money, it creates inflation.

Printing too much money erodes the value of savings. Quote: 'Inflation is a tax on savings.'

The Professor claims that with taxation and the government paying people back, only the top 40% of income earners on average are net payers of federal tax.

The federal government is bankrupt, already. The debt could not even be serviced at a 2.5 % interest rate. The federal annual income is slightly too low to even service the debt.

Borrowing from the Federal Reserve, creates inflation.

Spending needs to be actually cut. The yearly budget must be balanced. The professor seems to suggest that federal government surpluses in funds for 50 to 100 years could make the debt 'not matter.'

I would still attend matches

Facebook

Google

I would still attend matches, if I could.

Wild Bull and Nidarosdomen Cathedral in Trondheim

Trondheim.com

Preface

I have not seen my good friend, Arne Kaare (Wild Bull) Novik, since 1985 when he moved away from the forests of British Columbia, to his parents homeland and the forests of Norway (Norge).

Arne is a unique fellow with a combination of intellect and satirical humour. He also makes the claim of Christian.

One friend also claims that Wild Bull is 'nuts'. Intellectual and funny, but nuts.

In a Facebook discussion group today, Wild Bull presented photos and information on the striking Nidarosdomen Cathedral in Trondheim.

I graduated from secondary school in 1986 and my parents strongly suggested that I take a trip to Norway and visit Wild Bull. I could save money if he would host me.

But, Arne wrote me back and explained (paraphrased) that his mother thought I was a religious fanatic and therefore would not enjoy my stay.

I should have just gone to the United Kingdom and stayed with my cousins in Scotland. They are not religious and hosted me in 1976 (with family as I was a child), 1995, 1997.

Arne now living alone as an adult male, has invited me over several times since, and I truly hope to visit him there one day.

If the price is right...

Cited from

Trondheim.com

King Olav Haraldsson was buried by Nidelven, the river Nid, after he was killed in the battle of Stiklestad in 1030. 

Tradition has it that the high Altar of the Cathedral now stands on the exact spot of this burial site. One year and five days after he died the King was declared a saint, and pilgrims began to flock to Nidaros and the King's grave. 

The national sanctuary of Norway, built over the grave of St. Olav. Work began in 1070, but the oldest parts still in existence date from the middle of the twelfth century. These are in the Romanesque style, while most of the cathedral is Gothic in style. The building was completed in about 1300, but after being damaged several times by fire, it lay largely in ruins at the time of the Reformation in 1537. 

In 1869 extensive restorations were begun, and a century later it was again restored to its original grandeur. The stained glass dates from the early 20th century. The sculptures on the west front are by leading Norwegian artists, and the most recent was erected in 1983. Below the nave is the crypt with headstones from the middle ages. 

Fjord Tours

Facts about the Nidarosdomen Cathedral 

The Nidaros Cathedral is most important Gothic monument in Norway

The cathedral is situated in the middle of Trondheim city centre and can be seen from almost everywhere in the city. Construction started in 1070. 

The northernmost medieval cathedral in the world.

Epidemic of stupidity

Last night...

Against Forced Isms 

Private Facebook discussion group.

(This page comments)

•The Rage: We are due for an epidemic of sorts.

•S & T: We have an epidemic of stupidity.

(The Rage agrees and laughs)

•Wild Bull from Norway with a Scandinavian proverb: Better red than dead???

(Pinkos)

•The Red Skull: To lead a country in the 21st century, learn how to become a media darling.

(Trudeau needs the Booteau, but will not get it)

(The Conservatives in Canada are promoting Canadians 'getting ahead' in television advertisements by voting Conservative. This will not work in my opinion, because in part, too many special interest groups are not looking to get ahead, but instead, desire government assistance and will be voting Liberal, NDP or Green.)

(I will keep with my prediction that Trudeau II will be our Prime Minister for 20 to 30 years)