Monday, August 15, 2011

Don’t You Get It? The Fed is the Problem| The Post & Email

Don’t You Get It? The Fed is the Problem| The Post & Email:

"Don’t You Get It? The Fed is the Problem
7Share 0diggsdigg

by One Pissed-off Vietnam Vet

The Marriner S. Eccles Federal Reserve Board Building in Washington, DC was built in 1937

(Aug. 14, 2011) — As any first year economic or accounting major will tell you, the bottom line is debits and credits. That’s it. You can list derivatives, options, and points until the cows come home, and it all comes down to whether you are in or out of debt. If you take in more than you put out, you’re in the black. If you overspent, you’re in the red and you owe money because you lost money.

Money spent or borrowed over what you made is lost money, money that you don’t have, money that you owe. And if you don’t pay, your credit rating drops down to the cellar; on any future borrowing you will pay a substantial penalty in the form of additional interest for being derelict in the first place."

No comments:

Post a Comment

The 'Reader Responses; shown on many posts/articles are almost always worthwhile reading.

Often, the comments by readers enhance the posted article greatly, and are informative and interesting.

Hopefully, all will remember to read the reader comments, and post their own as well.