Tag Archives: bankruptcy

UPDATED NEW QUOTE BY ULDIS SPROGIS 1251!!!

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HOW IMPORTANT IS THE DEFICIT OF A NATION???

First of all it is important to understand the international economy. If you are a nation rich in natural resources and producing information, goods, and services that the world wants at the lowest prices possible then you are in an economically healthy situation and small increases in the national debt will not be disastrous in the short duration for the economy.

If you are a resource poor country not using a major currency and not producing information, goods, and services at the reasonable possible prices then your economy frankly often sucks and there is no great hope for improvement and a relatively large deficit increase will often cause a relatively high decrease in the value of the national currency and cause high inflation thus hurting the national economy.

If you are a huge international company or bank then frankly it doesn’t matter what your country of origin is because you will be able to make money wherever the profit is greater in whatever country that might be and the economic health of your enterprise will be dependent on the health of the world economy in general.

International companies and banks are the new nations not dependent on the political whims of any one nation so in effect the world is one nation already and profit is their primary aim without any real morality or accountability in place. No one can vote them in or out of office and they have a permanent monopoly on the world not subject to any one political change on into the foreseeable future.

The United States is still in an enviable position because they are the world reserve currency and many nations have their currency fixed to the value of the dollar. Transparency is the strength of the United States and since China is not transparent in their internal economics it shows no signs of becoming the world’s reserve currency any time soon, although their rights to participate in worldwide financial decisions is growing as they become more transparent and productive with time. It is a question of worldwide trust and the United States is still trusted more monetarily than the Chinese.

In the short duration exchange rates between countries are usually floating and short duration supply and demand considerations are primary so it doesn’t really reflect the long duration health of the economy. Yes, supposedly transient statistics like interest rates, unemployment rates, inflation, gross domestic product, and manufacturing information is used in determining exchange rates between currencies but exchange rates are really speculative factors which don’t need transient statistics to stabilize. Exchange rates and transient statistics are short duration factors which really have very little to do with the long duration health of the economy.

You may be surprised that neither political party no longer cares about deficit reduction and is willing to continually increase the size of the national debt. There seems to be no fear of bankruptcy because basically we are the major source of money in the world and can print or counterfeit as much money as we want. Who supplies and controls most of the money for the world is in the driver’s seat.

Yes, too great a deficit in the long duration will have depressing effects on the economy so the US should emphasize useful moral education, try to import or use the best brains in the world, and try to robotize the economy so that the economy can continue to be dynamic, changing, and profitable. Other countries of the world to a large extent have the same problem of fewer good paying jobs for everyone and increasing welfare problems so the US is not alone in the struggle to survive financially.

Deficit spending is the wave of the future for many countries and the global money managers ultimately are interested in relatively stable economies for the top nations all of which are going into greater and greater debt. Will there be an ultimate bankruptcy? Not very likely and if there are going to be any bankruptcies then the nation or nations will just have their debt reorganized or forgiven to a large extent by the globalists. Financial chaos is not something that they want or need in nations with financial clout.

Worried about the deficit and bankruptcy of the US? Don’t be, but do worry about possible personal bankruptcy because your personal debt will not be reorganized or forgiven even though Chapter 7 or 13 bankruptcy proceedings exist and may help a little.

If you liked this evergreen truth blog then read more of them, about 4300 so far, or read one or more of my evergreen truth books, especially EVERGREEN TRUTH, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

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UPDATED NEW QUOTE BY ULDIS SPROGIS 210!!!

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If you liked this evergreen truth blog then read more of them, about 3000 so far, or read one or more of my evergreen truth books, especially EVERGREEN TRUTH, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

https://uldissprogis.com/zlist-of-my-most-popular-blogs/

THE TRUTH ABOUT BANKRUPTCY*

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Bankruptcy: n. a human and/or business which is unable to pay back existing debt in a timely way and being unable to get additional credit

Personal and small business bankruptcies are rather terminal and final but big business has bankruptcies which reorganize the business legally and some historical debt is forgiven so that the business can continue to function with a smaller size or footprint.

National bankruptcy is more serious and can result in worldwide depression if a major country suchas the US collapses financially and becomes insolvent.

 If you liked this evergreen truth blog then read more of them, about 2700 so far, or read one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

For a complete readily accessible list of blogs and titles go to twitter.com/uldissprogis.

Enjoy!!!!!!

If you enjoyed this blog then here is a list of my most popular ones which you may also enjoy!!!

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THE TRUTH ABOUT ECONOMICS

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Economics: n. knowledge corresponding to (production and/or consumption) and/or the transfer of (money and/or ingus) which is the addition and/or subtraction of money and calculating percentages of money transfers

Ingus: n. information and/or goods and/or services

A simpler way of understanding economics is to say that it is HOW WEALTH IS CONTROLLED BY MONEY AND LAWS.

Wealth: n. having (ingus and/or money) and/or (land with plants and animals and/or water) and/or air

 

Economic units controlling the wealth are plants, animals, humans, organizations, businesses, governments, and banks. The most powerful controlling units are the banks and governments but the most important economic units are the plants and animals upon which our ultimate survival depends.

Plants and animals are powerless economic units because they don’t control money but they do control energy, what money represents, and the land around them so biodiversity is vital to the survival of humans on the face of this precious planet.

Laws should provide for the just distribution of wealth between all the economic units. Bad laws or the absence of good just laws is the primary reason for the sad state of the world today because making more money alone is mostly worshiped and not worshiped is the just way that it should be used for the benefit of the world eco system.

Wilderness plants and animals are efficient thrifty non-polluting economic units utilizing the least amount of energy to survive and humans are the most inefficient profligate polluting units using the most energy or money to survive. It is time for humans to start living more efficiently with a morality which promotes biodiversity and radically reduces profligacy with efficient non-polluting behavior.

Teaching humans to be thrifty with fat reserves for emergencies or saved up money for emergencies is a dying good and vital habit but the economic system does not encourage thriftiness. Non thrifty profligate organizations, businesses, governments, and banks are operating without money reserves for emergencies and the consequences are that there is inflation with much counterfeit money circulating in the economies of the world devaluing the worth of money. Not being thrifty and efficient means no long range planning is possible for economic units and more and more of the economic units will be living in crisis mode on the verge of bankruptcy.

It may seem financially undoable but what the world really needs is a stable money supply which maintains its value over time. Competing governments with unique currencies with control over the quantity of money circulating makes it physically unlikely that the value of the currency can be maintained at relatively constant value worldwide unless all the currencies are identical. A uniform world currency is still a dream of the most powerful and rich worldwide but whether it will ever become a reality is still a big question mark.

Banks control the money supply with lending and the charging of an interest rate which concentrates wealth and power to lend more at a future date. A just world unified currency would be to lend money at no interest rate because you already have control over world currency and this would guarantee a more value stable money supply and encourage savings for the future in all the nations of the world.

The key to an economically healthy nation and world is a thrifty moral working family unit which lives within its means and produces wealth for the nation and world and raises competent offspring who also join the workforce so that future generations may benefit from the fruits of labor of the previous generation. Break up a healthy family unit and it leads to dysfunctional offspring who will not reproduce effectively and frequently become a financial burden on the nation and world.

 

China has no social security and the savings rate is the highest in the world for about 20% of the population but unfortunately the value of their currency is not stable with a high inflation rate and it will severely reduce the value of these savings. China has many thrifty family units and cohesive families and it is one of the primary reasons why it is doing so well economically. If the Chinese economic model becomes identical to the US which doesn’t encourage savings and the family units begin to break down then China will also begin to teeter on the edge of financial bankruptcy.

Economics is the study of production, consumption, and transfer of money and/or ingus in society. Money is either added or subtracted and percentages of money are calculated which basically is calculating interest or profit on money. Economic risk calculations are also done using percentages of money and supply and demand calculations or considerations.

Profit is a measure of economic efficiency but unfortunately economics and profit alone can be very stupid in determining the health of the food being produced or the quality and necessity of the ingus being produced.

Unhealthy food and bad quality ingus is possible if profit is the only standard of excellence used. You can make great profit from crappy food and bad quality ingus which can be consumed by a gullible public who doesn’t know the difference between what is sustainable and necessary and what is mediocre or bad quality wise.

A smartly educated informed public is vital to maintaining quality in the deceptive marketplace where illusion too often dominates in the pursuit of the mighty dollar and quick profit which often distorts good healthy long duration social norms and goals.

If you liked this evergreen truth blog then read more of them, approximately 700 so far, and one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

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THE TRUTH ABOUT PERSONAL DEBT

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If you are in tremendous credit card debt then chances are that you never learned to budget your money and are an impulsive buyer unable to control your overspending habits. You are not alone. That is the predicament of many Americans and the government is just as irresponsible with money judging by the incredible national debt which it has gone into.

If your credit card debt is from about $40,000 to $100,000 then scaling down your spending habits with the help of financial budgeting is the only way out which means less money spent on eating out, no new car purchases, less spent on clothing, less spent on entertainment, less spent on luxury items, no vacations away from home, and not having more offspring if you have some already. You will just have to change your bad spending habits by prioritizing money and only spending it on the most important necessities in your life.

Google or Bing money budgeting to get advice on how to categorize your expenses and only spend up to the money limit of each category each month. Each month or paycheck you should include money saved for emergencies such as house repairs, appliance repairs, medical expenses, and even some saved for retirement.

If your credit card debt is outrageous or about $200,000 and you are paying about 15% interest on it then you are paying about $2500 dollars a month extra and pissing it away with no benefit to you. That is paying about $30,000 a year or the price of a new luxury car each year. Pay this amount for 10 years and you could afford to pay off a $300,000 house.

What should you do? Bankruptcy is an option and you can talk to an attorney but one way is to stop payment on all the credit cards and negotiate a lower payment schedule with the credit card company. Tell them that you can afford to pay them 7% interest and no more and threaten not to pay them anything if they don’t agree to your terms and mention your outrageous credit card debt amount.

If you succeed then your monthly payment to them will be approximately half the usual amount. If your attempts at negotiation fail then stop payments, rent a safety box at a bank, buy gold bars with the money you save from monthly credit card payments, change your phone number to avoid harassing phone calls from the credit card companies, and wait for court summons from each credit card company. Court summonses may take up to a year to arrive so you will have plenty of time to save and prepare yourself for the legal bullshit.

When you go before a judge then state your outrageous debt amount and tell him you can only pay 7% interest on the loan. Chances are the credit card company will not have any lawyers present but will teleconference via the telephone and agree to your terms. If the credit card company does not agree then some judges may put a lien on your house or maybe even garnish your wages but this is highly unlikely since it is an unsecured loan and legally improbable.

The worse case scenario is that your wages will be garnished and you can then declare bankruptcy and live off a debit card for a few years with the help of your gold savings and even quit your job if you are single to show that you have no earnings during the bankruptcy proceedings.

The credit card companies tried to screw you with high interest rates designed to enslave you for a lifetime. It is time that you say screw you and go through the legal bullshit with conviction that you will come out of your bad situation in better financial health than before. Bad credit is a fact of life for more and more Americans and it is time you learned to budget your money and live off of a debit card for a few years!!!!!!

 

If you liked this evergreen truth blog then read more of them, approximately 600 so far, and one or more of my evergreen truth books, especially COMMON SENSE, rays of truth in a human world filled with myths and deceptions.

Enjoy!!!!!!