Obama and the Republican Party

[BlandOatmeal]

This is a common misconception. (Have you been talking to socialists?)
If a bank has $10M on deposit, then it can lend only some fraction of $10M.
If the reserve requirement is 10%, then it must keep $1M on hand, & can lend out $9M.
The upshot: Only the fed can lend out money they don't have....even digital money.

I was under the impression that loans due to a bank are counted as "assets".

 

[YmirGF]

I was under the impression that loans due to a bank are counted as "assets".

In a perfect world where everyone is able to meet their obligations they are indeed assets. It only becomes problematic when criteria for making loans is lowered to the point of accepting anyone who can fog a mirror, regardless of their ability to meet their contracted obligations.

 

[Revoltingest]

I was under the impression that loans due to a bank are counted as "assets".

This is more than mere impression....tis a fact.
And deposits are a liability, which is why they call your putting money
into your account a "credit". On your books, the deposit is a "debit".

 

[s2a]

What it boils down to is the majority can vote that the minority should give us some of their wealth.

Kinda ugly to contemplate superficially... but yes, that how a democratic process of self-governance is supposed to work...

An even more accurate description is we can vote to borrow money from children who are not even born yet.

With the very small exception of the uber-wealthy... um... yes!

We are not in this together because we excuse many folks from their obligation to pay for anything because they believe they are entitled to maintain a certain lifestyle.

From your lips to whatever disengaged and aloof deities' ears you choose to anoint as adherents of the lessons/teachings of Christ... yes.

People below the "Poverty Level" live a better life than our middle class did back in the 60's.

Cool. Facts are very compelling.

Prove it with simple facts from credible and verifiable sources.

Or sit on your hands and watch.

 

[s2a]

awww...