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( 4 comments — Leave a comment )
typing_sound
Dec. 31st, 2009 06:52 pm (UTC)
I didn't actually get this. Maybe I'm not with it tonight. What does it mean that we are sold abroad? Is it to do with the taxes we pay? Like we are having to pay for the government's debts?
liveonearth
Dec. 31st, 2009 06:57 pm (UTC)
Of course he is drastically oversimplifying the situation, but he is referring to the fact that when our government takes on a debt and promises to pay it, it is the productivity of the citizens that ultimately pays that debt. The government takes what it needs from the citizens by way of taxation, and by printing more money (Federal Reserve) which causes inflation and devalues the money that we already have. So we are working hard but the fruits of our labor go abroad by way of our government's debts, incurred largely by fighting in wars. Does that make more sense?
typing_sound
Dec. 31st, 2009 07:15 pm (UTC)
Yeah, thanks! :) I kinda figured that, but needed it spelled out, lol.
liveonearth
Dec. 31st, 2009 07:16 pm (UTC)
No worries. It's good for me to make sure that I understand well enough to explain it.
( 4 comments — Leave a comment )

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