Morton Fox (mortonfox) wrote,
Morton Fox

Friday Fives

From fridayfiver:

1. Who do you owe?
Financially, no one. In other respects, lots and lots of people.

2. Does anyone owe you?
Yes. I have some limited maturity bond mutual funds, so the debtors would be the government and some investment-grade corporations.

3. How many credit cards to[sic] you have?
Only one credit card, which I use for E-ZPass and online purchases. It gives free gas.

4. Do you care about national debt?
The national debt is only the tip of the iceberg. If you include unfunded Social Security and Medicare obligations, and state and local government debt, the total comes to over $53 Trillion. That's $180,000 for every person in the country! Even higher if you only include those who are in the workforce. Okay, so you don't care because it's the government's problem, not yours. Well then think about what's going to happen next. The government will eventually have to pay off or reduce the debt. That leads to higher taxes. (Yeah, yeah, tax the rich. Get a clue. Even if you seize all of Bill Gates' wealth, you aren't going to make a dent in the $53 Trillion.) Either that, or they'll have to monetize the debt, i.e. unleash Ben "printing presses" Bernanke on the problem. That's going to drive the value of the dollar down towards zero and you'll see massive inflation. (As if we don't already have massive inflation.) And believe me, that's going to hurt too!

Better question: Why would anyone NOT care about the national debt?

5. Would your friends be surprised if they accidently saw the balance in your checkbook?
I don't know. That depends on what everyone thinks it is.

From thefridayfive:

1. Photo albums or picture frames?
Image files.

2. Digital camera, disposable, or point-and-click?
Digital camera.

3. What facial expression (of yours) is usually captured in pictures?
Usually it looks like a bout of indigestion.

4. What's your favorite picture and why?
It's fun.

5. Do you take the picture after you say "1, 2, 3", or after you say "2" and right when you say "3", or do you use another method or not count?
I don't count. Just point and shoot.
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