Debts

Berkeley, Monday, November 2, 2020 2:11 pm

I am going to talk about something about I do not know much about, but I need to write down this thought. After watching and learning about Alexander Hamilton, a great founding father, two general thoughts.

It seems there is a trend about when one try to do what one think is good a needs to be outspoken, one definitely will get enemies, unfortunately. However, besides from what a man or woman accomplishes on his/her life, a long term name comes not only for the ability to be outspoken, but for the ability to publicly acknowledge mistakes. I think that defines a man.

It happens with Hamilton after he got involved on an affair with a married woman, while himself ones a married man with children. Of course, that had a terrible impact on his public life and on his accomplishes, but it was extremely brave to acknowledge it. One is must subject of mistakes, but only but acknowledging them can correct them. At the end it added trust to his life.

Likewise, Joseph Pulitzer had a brilliant career as a journalist and outspoken of the daily life in New York in the late 19th century. But he made a mistake, later on a time, when there was a new rival to his newspaper. I can describe the case in other time, but Pulitzer, recognized that news published about the US and Spanish war in Cuba were inflammatory, misleading, exaggerated, which contributed to that, perhaps, unnecessary war. At the end, beyond criticism about his yellow journalism, which was labelled from a caricature, the yellow kid, originally on his newspaper, and later on the competition. Yellow journalism was a term used to describe sensationalism journalism. Despite that mistake, Pulitzer name has been widely recognized. Man braveness is not only on action, but on acknowledging his error as well.

The other point I wanted to mention after learning about Alexander Hamilton and the Federal Bank. And this is the topic which I say I do not know much about. I wanted to talk about debts. If states has debts to the Federal Bank, how are those repaid. If there is a relief funding, from where the funds come from. In the big picture I am connecting the source of the relief funds to of course, the taxes we pay. But I want to dig deeper in terms of the debts. The taxes we pay to Federal Government is the money used to provide other normal funds to States. What is the source of state to pay back, the state taxes we pay as well? I understand each institution has different ways of revenue. OK. Yet my question was about debts. In those times of detailed accountability, I saw the debt to the Federal Bank, I am not sure if its name is public debt, and I am also not sure if I described well debt to the Federal Bank. But I have seen that this debt has increased significantly over the last decades. The question is what does it means? Is then the economy good or not? What is the back up to the economy. Is it good to try to bring that debt to zero, even if that means forgiven debts is needed. I do not think I will check on that further. I think that the stock market and the trades of stocks plays a role on this. My question is why often one see how the stock market and the GDP are growing, but not too much is said about the public debt?

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