The Edmund Fitzgearld & the National debt
The Gordon Lightfoot song about the Edmund Fitzgerald carrying 26,000 tons
of iron ore makes for an interesting comparison. It is said all the gold in
the world would weigh just over 100,000 tons. (a final Jeopardy question a
while back). This is four Edmund Fitzgerald loads. At the current gold price
of $ 465 per oz., how would you think the entire worlds gold supply would
compare to our national debt?----- The value of the all the worlds gold
would not even pay one- fifth of our debt. Trouble coming?
Dixon |
Dixon
Oct 3
2005
|
| Whoever it is would be willing to pay for it, I am sure. |
Dave
Oct 4
|
| Nice try, Chuck. But Debt as a percentage of GDP peaked in 1995 and 1996,
when it was 67.2 and 67.3% respectively. It was over 70% when Eisenhower was in office...and never topped 65% until
1994 when Clinton was in office. http://www.whitehouse.gov/omb/budget/fy2006/pdf/hist.pdf (see Table 7.1...which is on page 119) |
NOYB
Oct 4
|
| Sounds like a terminal panty-wad issue to me..... seek professional
help while you still have the feeling in your legs....
|
Gene
Oct 4
|
| Actually, he may "not" have feeling in his legs...any of them. |
Harry
Oct 4
|
| What? Succinctly and precisely identifying HK's unique demographic?
Yeah, I'd say it does make me credible. |
OlBlueEyes
Oct 4
|
| His bozo bin keeps automatically putting HIM back in, so he has to reset
it in order to post himself. |
OlBlueEyes
Oct 4
|
| I don't recall reading about Jefferson stating that. From what I remember,
it was the Federalist Party that opposed the purchase...citing that the
Constitution did not allow for acquisition of new lands or negotiation of
treaties without the consent of the Senate. Can you point me to a source showing that Jefferson stated that the LP was
illegal? |
NOYB
Oct 4
|
| Harry,
If you really have a "bozo bin", why do you keep taking people out of the
"bozo bin" and then putting them back in the "bozo bin". Any rational
individual would think you really don't have a "bozo bin", but really just
want to talk about your "bozo bin". By the way, what position did you play when you were on U of Kansas's "Rugby
Team". "Harry Krause" <harry.krause@gmail.com> wrote in message |
Starbuck's
Oct 4
|
| OBE,
When you use profanity like that you sound like many of the leftwing nutjobs
who post in rec.boats. ; )
"OlBlueEyes" <frank@sinatra.com> wrote in message |
Starbuck's
Oct 4
|
| Jefferson believed the LP one of his greatest achievements, also expressed
concern about overstepping the government's powers as outlined by the
constitution.
"His brilliant negotiation and ties to France led to the Louisiana Purchase
for $15 million, doubling the size of the nation. Nonetheless, the deal
troubled Jefferson, who did not wish to overstep the central government's
powers as outlined by the Constitution, which made no mention of the power
to acquire new territory. It was Jefferson who authorized the famous Lewis
and Clark Expedition (1804-1806), led by Meriwether Lewis, a military
officer who was Jefferson's clerk at the White House." http://www.nps.gov/jeff/LewisClark2/Circa1804/Heritage/LouisianaPurchase/LouisianaPurchase.htm "NOYB" <noyb@noyb.com> wrote in message |
Starbuck's
Oct 4
|
| He had concerns about stepping on states rights, but he made the deal
anyway. So, should we give the Louisiana Purchase back to the French? |
thunder
Oct 4
|
| Now THAT tripe certainly makes you credible, huh? |
atl_man2
Oct 4
|
| Kevin,
That quote sounded as if you are Harry made the post. <atl_man2@yahoo.com> wrote in message |
Starbuck's
Oct 4
|
| Hell yeah - let the Frenchies pay for rebuilding New Orleans. When they are finished, threaten them, they give up and we get it all
back. |
Shortwave
Oct 4
|
| Wow - talk about offensive. |
Shortwave
Oct 4
|
| Check my math guys, but I have the US national debt at
$7,939,664,349,738.56 so figure $465(price of gold) X(16/.083 (troy OZ to US oz))x2000
(pounds/ton) x 100,000 (tons of gold in the world = $17,927,710,843,373.49 |
Jim
Oct 4
|
| Blue is just another rightie with issues. |
Harry
Oct 4
|
| Chuck,
It is nice to see you are thinking rational. <chuckgould.chuck@gmail.com> wrote in message |
Starbuck's
Oct 3
|
| Even if one turns a blind eye to the Constitutional requirement that the
federal government only purchase land for "forts and other needful
buildings", the superfluous properties needed to erase the debt can be
assembled without touching those you name. Of course I didn't expect you to reply with any sense of rationality -
your desperate invocation of _reducto ad absurdum_ was quite predictable. Nevertheless, I would still point out that: (1) environmentally speaking, privately held forest lands fare far better
than government-owned ones, since private entities have an interest in
reforestation of lands they own, whereas ones leased by government are far
more likely to be clearcut. (2) the three most famous historic residences in the United States - Mount
Vernon, Monticello, and Biltmore - are all in PRIVATE hands. From the
Monticello website: "As a private, nonprofit organization, the Foundation
receives no regular federal or state budget support". From Mount
Vernon's: "Mount Vernon does not accept grants from federal, state or
local governments, and no tax dollars are expended to support its
purposes." After all, where would you rather visit a restroom in New York - the
Waldorf or the subway? |
OlBlueEyes
Oct 4
|
| Now, that is one flawed reading of the Constitution. That section is |
thunder
Oct 4
|
| the last $2.5 trillion of that) before we know it. And who is resposible for the previous 5.5 tril? I got an Idea, but
then again, that wasn't his fault, now was it? |
tschnautz
Oct 4
|
| Uh, it might not be who you think. http://zfacts.com/p/318.htm |
thunder
Oct 4
|
| Absurd on its face. |
Harry
Oct 4
|
| If you knew ANYTHING about the history of the US you'd know that Thomas
Jefferson explicitly STATED that the LP was in fact illegal. |
OlBlueEyes
Oct 4
|
| Not at all. Absolutely true and verifiable. |
OlBlueEyes
Oct 4
|
| But selling the superfluous properties the govt owns would pay it all off. |
OlBlueEyes
Oct 3
|
