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The Water Cooler
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<blockquote data-quote="ShaunyP26" data-source="post: 2962217" data-attributes="member: 42035"><p>Debt is money. That dollar in your wallet is a liability to the fed. Every asset has some type of liability to offset it, either debt or equity. This is just accounting. Even that bank deposit you have represents a liability to you from the bank. Do you do a balance sheet for your business? Look at it. </p><p></p><p>I'm sorry and I mean no disrespect, but you're absolutely wrong on a purely technical level when describing debt. You're making a moral case and trying to pass it off as an economic or financial one.</p></blockquote><p></p>
[QUOTE="ShaunyP26, post: 2962217, member: 42035"] Debt is money. That dollar in your wallet is a liability to the fed. Every asset has some type of liability to offset it, either debt or equity. This is just accounting. Even that bank deposit you have represents a liability to you from the bank. Do you do a balance sheet for your business? Look at it. I'm sorry and I mean no disrespect, but you're absolutely wrong on a purely technical level when describing debt. You're making a moral case and trying to pass it off as an economic or financial one. [/QUOTE]
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