I don't think you applying yourself, Smoky. I'm gonna go ahead and let you calibrate your brain as to where that's from.
I think you know.
If you don't, you're probably a lot younger than I am. But even if you are, that a lot younger than I am. I mean, it's a big pern, I mean, big Worm. These are very important moments if you don't know. It's the central plot line of Friday, you know, with Chris Tucker and Ice Cube, and Chris Tucker was supposed to sell out his weed, but instead of selling the weed, he smoked it. And he who he got it from is brother named Big Worm, who had a big pern.
And at some point big Worm pulled up in one of his money but Smoke he ain't had the money. So then big Worm was like, okay, well, then give me my weed. Smoke ain't had that because he's smoked it, and he was saying, listen, messing with my money is like messing with my emotions. And he basically explains to him that by the end of the day or this movie, if you don't have my money or my weed, I'm coming over here and I'm killing everybody.
You got to pay your debt.
Right now, who is smoky in this scenario is the US federal government. We got to talk about the debt hood politics, y'all. I don't think you applying yourself smoky, oh man. Such an iconic time for movies, especially like black cinema. Shout out to John Singleton man Rest in peace,
his last creation before he passed. Well John Singleton, First of all, he didn't direct Friday That's Ice Cube, but just classic black film from the nineties, Boys in the Hood, Poetic Justice, and then his last one was the series FX, a series.
On FX called Snowfall South Central Legend.
Anyway, what a time man, we had, you know, Friday next Friday, Friday after next, you had Above the Rim, you had just Poetic Justice, just these amazing like you know, black nineties, like loving basketball, all of it right, just the wood yo, like Stella got a groove back, set it off. You know, man, what a time. And I mean our parents, at least my parents. You know, they had the seventies blaxploitation films. You know, that was around a time you know they sort of black you know legends.
Let's see, I remember my father made me watch this show called this movie called a Hero Ain't nothing.
But a sandwich.
It's about drug dealing and getting hooked on drugs from the seventies.
Anyway, I'm off topic.
I bring up Friday and I bring up Smokey because the central plot of the film is really paying a debt. You know, somebody front you to work and you're supposed to sell to work and then pay you know back what you owe plus their percentage, right, I mean, it's the simplest way to think about our financial credit system. There are two really dope podcasts out right now. Ones like it was a couple of weeks back from based on when you're hearing this, one was, you know, from
our homies at even More News, the Cody Shody. I adored him. I really like them. They are white as hell, you know what I'm saying. It's like, I just they just make me smile.
I just enjoy them.
He's got to show about the history of credit score and ecofax and Fiico and it's really dope, man. It's It's like they actually cover a lot of stuff that would serve as a good deep dive into kind of what I'm gonna talk about. And then also through Line on NPR they have one about the history of the credit score too, that's a little more serious and journalistic at Cody and them at the some more news you know spot. It's comedy, but it's like to make the
medicine go down. So if you haven't, I'm pretty sure if you listen to the show, you listen to that show, like that's the that's the circle. I mean, unless you came into this circle because you were a fan of me, then you ain't heard of them anyway. That's a more deep dive, but basically, if you don't know, countries have credit scores also, And what I want to do today is I'm pretty sure you've been hearing all over the news for the last month or two about the debt ceiling,
and America's never defaulted on their loans. We have always paid our debts, which was always curious to me because I was like, well, don't we make our own money? Like, who the hell is we borrowing from? They was like the National Treasury. I was like, isn't that the US government? Like is you not borrowing money from yourself? I don't understand. Don't you collect taxes? Don't the taxes go to the government, well the taxes, like what how who are.
You borrowing money? Are you borrowing from other countries?
Don't you think that that's like a Ain't that like a national security issue?
Like why would I borrow?
You know what I'm saying, because I'm like, why is what stops every country from being like big worm? You know what I'm saying? Then what the hell is our taxes for? If you borrowing? Like what the hell wrong with your budget? And then they way they talk about approving budgets, I'm like, didn't you approve a budget three months like earlier this year, like six months ago?
Well?
I thought you approved a budget, and if you know what we spending, did y'all not stick to the Ain't that your job to stick to the budget?
I don't understand what the hell is you borrowing?
Didn't you already say what we was gonna spend and didn't we already spend it? Like I don't understand what is I don't So did we borrow? Did we borrow the weed and smoke it? Like?
Are we smoking?
Like what happened? Did we just like agree on a price? And then the bill came and was like I ain't got it? What like, I don't want to pay that much digging like, that's how much? I don't already done the thing? And I told you how much it was. I don't understand. Did you not check for your overdraft fees? Is you gonna swipe your card? It ain't gonna be there. That's what I want to talk about right now, because
it ain't make sense to meet neither. I'm like, I thought you already said what we was gonna spend and then you already spend it. Now you got to approve us paying back what you said we was gonna spend.
What is you talking about? Government?
Sound like my daughter. This was a few years back. Luckily she don't listen to none of this. She was just daydreaming about her future and one day getting a job, and she was like, you know, hey, when I get a job, I'm just going to what I'll do is I think I'll save my allowance and then I'll kind of like spend, you know, the money I get from my job. And I was like, well, hold on there, sweetheart, can you think of.
Why I had to pump the brakes? Onder y'all, sweetie, we not go okay?
If you don't get this, baby, I'm not gonna give you an allowance no more.
She was flabbergasted. What I was like, first.
Of all, I don't think you should get allowance at all for chores. The nigga, you live here, You're gonna have to do them anyway. So what am I paying you for? You live here, I'll pay you for the extra I'll pay you for the things for the peace of mind and not having to worry about stuff. The nigga, you don't get it. You have a job. Why would we keep paying you an allowance if you have a job. She was like, wait, wait, wait, does mom notice? And I was like, are you are you kidding me? Right now?
There's nothing to discuss. She's like, wait, we need to discuss. Like no, no, no, no, no no no no no no no no no no no no no no no no no no no no no, sweetheart, that's not how it works.
I just got to feel like as of the government be doing the government's like, okay, so I'm gonna take your taxes and then I'm gonna get money from other people and then I'm gonna borrow some more. Like wait, wait, hold up, what I don't understand this, don't You don't you don't. You don't make sense to me, right, So I'm gonna talk about what they talking about. Help you at least get your brain around a little bit of what's going on and why it was such a big deal.
And in the middle of that dropped some gems is to like, here are some good practices with your own finances. Now, I am no wealth influencer by no means, you know, but I'm gonna use my hood antennas things that I've learned and practices that I've learned to apply in my own life, like you know, on like just like the other how much of dollar cost episodes, whereas it's like, look, I may not know all the terms, but and you may not know all the terms and the big words,
but you understand it. You understand exactly what Smoky and Worm's issue was. Better have my money?
All right, let's talk about it here we go.
Okay, So I'm going to back up way far here, not to insult your intelligence, but again just to remind you that you actually understand this stuff. So let me back up. Lending and borrowing money. Okay, what sucks about the world that we built? This this universe that we built is like, if you just paid cast for everything, it actually would call you like debt invisible, and that would suck for you. It would make you make it much harder for you to buy a house, get a car,
all these different things. It actually hurts you unless you're independently wealthy and you actually do have a billion dollars liquid in your bank account that you could actually pay casts.
And it don't matter. Once you hit a certain amount of money, it don't matter.
But for the rest of us who don't got that, you being responsible and not getting in debt can punish you. It's absurd, but it's the world we're in. So in the simplest terms, your cousin, your uncle, say, nephew, baby girl or baby girl, come here, Hey, let me hold twenty dollars till tuesday. Now, let me ask you something. What is your process of seeing as if whether you should give this uncle or cousin that twenty dollars. Here's
a few things that I've learned in my life. I don't loan out what I'm not willing to give, and especially to which particular family member. If I know this family member ain't really good for it. I'm like that, I'm gonna chalk that twenty dollars up as a loss. You ain't gonna I just love I look, I love your uncle.
I'm just look. You know you pay me back.
I'm say pay me back, but I don't expect right because that's just who he is. You understand what I'm saying like that, so maybe that should be your grit. Do you trust this person? Is this person really gonna pay you bet? Does this person have a track record of asking you and saying he gonna hold it till Tuesday? You understand I'm saying. And then on Tuesday, is you chasing this nigga down? If you are, you be like, I ain't got it today, un I'm sorry. You know
what I'm saying, Come on you pro care's nigga. It's like, well, I mean you the one borrowing from me, Like I don't know which one of them nigga.
I'm good. I'm good for it, you know what I'm saying, Like, I look, I get you on Tuesday.
If you don't trust this niggas like sometimes you have to be like, okay, put some on it. Show me that you're gonna get me back on Tuesday, or at least give me like five on Tuesday.
You can have till Friday.
Just give me something, right, And if anything, it's not so much you worried about that twenty dollars, it's it's that I need you to keep your word.
That's what you said you was gonna do.
And if I'm ever gonna borrow from you again, or I'm ever gonna let you borrow from me again, like nigga, I'm not finna do that. But listen, the first thing is like, look, man, don't loan no money you're not willing to give. You know that you can't afford to lose. That's that's you on the thing. Now, if you borrowing, you shouldn't borrow something that you can't pay back because it's gonna be on your back forever. And then there's
this thing called which you're grown ups, called interest. Right, So gives me to the point, which is like lending money is a business, Like it's clearly right, and for it to be a business, there has to be a way to make money. If I loan you one hundred dollars, if I'm a business, I give you a hundred dollars, I loan you one hundred dollars and you just pay me back one hundred dollars. What a stupid business plan.
I need a way to make money off this, So I need to charge you for letting you borrow money from me. Like this is a service I'm giving you, and for me to stay in business, I got to make money off this loan.
Right.
That's where it comes into things called predatory loans, which is like I'm looking for you that are struggling, that are tight right now, and I'm like, all right, you need one hundred dollars. I got you, you know what I'm saying, but you gotta pay me back plus like you know, fifty percent interest. Fifty percent interest is absurd, So like that's if you paid me back the one hundred dollars right when I gave it to you, it would be one hundred and fifty bucks. But if it's
fifty percent interest, it's fifty percent interest per payment. So if you borrow hundred dollars from me, and I'm like, I'm charging you fifty percent interest. So every time you paid me twenty bucks, you got to remember, fifty dollars got added to your ending balance every time, because it's
fifty percent interest. So if that's the case, if you only paying me twenty dollars, you still haven't paid none of the principal, right, So that means you could be paying off that you end up paying one thousand dollars on that one hundred dollars, right because of the way the interest works, and because you had to maintain your own finances. I mean, that's why it's called predatory, you
feel me. So lending is a business, and the way to gain the system is to always make sure, okay, don't borrow what you can't afford, to pay back and pay back quickly, right, So for your credit cards and stuff like that, when you just to pay back minimums, you know that basically that means you're gonna be in debt for the rest of your life, you feel me. And you're gonna pay like thousands and thousands and thousands
of dollars more than and what you actually borrowed. That's why foods, that's why you get the stuff in the mail of like, yo, you've been approved for thirty thousand.
Dollars, you know what I'm saying.
It's like, nigga, you're gonna be paying hundreds of thousands of dollars back to the like, don't ever like throw that shit away. Don't borrow what you can't A lot of a lot of times. You know a lot of people do too. This is just good money stuff. Is like when your check, you know you, it turns out you got more month than you do check.
You feel me.
So at the end of the last few days of the month, when you're trying to go get gas, you just put that on your credit card. You set yourself up because that's money. You don't have you spending money that's not yours. You understand I'm saying. And now you you chunking into your next check already because you're gonna have to pay that back, you feel me. So what are you supposed to do with that? Will you create
a budget? Right now? I'm saying this in a time where the cost of living is absurd and sticky to a budget almost means you're gonna have to choose between eating and rent. I understand that, you know so, so trust me. I know that's that's what I'm talking about. I'm saying in a world where you was able to get some sort of employment, you know, and that employment if you're doing your best to live within your means.
These are just good practices.
And again I'm just trying to explain borrowing, lending and budget right. So that being said, when this credit card are these people say yo, how much.
You need and you like, like, let's take it to the streets.
I'm back and going back and forth between you know, business, credit card, streets, government whatever.
Right, let's take it to the streets. You know.
That's why there's such things as loan sharks, right, because you can make a lot of money like that because you're desperate.
You have to.
You're gonna have to pay me back, you feel me, or we break kneecaps like you've seen movies.
You know what I'm saying.
You don't ever want to owe these people a favorite nigga, like cause you're gonna be in their debt forever, you know, because they'll approve your loan nigga, like you ain't got to go through though, like credit report that they approve your low nigga because because you don't pay them. Oh, come on, nigga, you family, it ain't nothing.
You know what I'm saying. Now we'll get that, you know what I'm saying, Like gon't get on your feet, nigga. We good out here. We'll chat later. Oh, because.
They gonna come collect Nigga, it's gonna be at a time you don't won't. And I know you're not gonna break your uncle kneecap unless, like I hope you not. Maybe maybe you set Grandma on them, you know what I mean? I don't know, but like when they're like, yo, how much you need? Are you good for it?
How much you need?
You throw out this number that you like, Oh, I know, I only make you know this much of mone so I won't be able to make these payments getting into these cars.
You know, if you listen to urban radio stations, they're like.
No credit, bad credit. Your job is your credit. We approve everyone. You could get in a foreign nigga, don't take that deal cuz okay, remember all the like, you know, the housing crisis, it was that it was like yo, or when the housing bubble explode, it was like we're giving y'all houses knowing full well you ain't gonna be able to pay this, so you got to have a wisdom. It's like, well they approved me for this jumbo loan. I guess I'm good. He's Linda's ain't looking out for you. Nigga,
ain't making you a lick. You're the lick. You can't trust them to do right by you. Oh, we really wanted to get you in this home. Nah, nigga know you not? You know you can't afford this because when the interest rates shoot up, which is what happened right your bill quadrupled. You feel me because you was you locked into this like you know Jumbo loan with this
arm thing. You ain't you know what I'm saying where it's like you didn't lock in your your interest rate, which means, like I said before, I'm charging you to let you borrow money from me, and I could raise my prices whenever I feel like it if I could be like Yo, it cost five dollars to barrow for me. Now it costs fifty dollars a ball for me. But you didn't already borrow the money, so you're gonna have to pay it like nah, fam So when they like YO, how much you good?
How much you want?
If you hit them like I want one hundred thousand dollars like nigga, you never gonna be able to pay that, like you know you can't handle that payment. You want your little tell, you want your little foreign whip. You know what I'm saying, That bill like, you know, four five bills a month, you trip it becuz like just so you could swerve this whip. When the repo man come pick your car up, you're gonna be looking real
Laane gont dry that little bucket. You know what I'm saying, get your weight up right now, like do don't look look, I'm saying this knowing full well what it's like out here, but like, you need to be able to maintain these these loans. You need to be able to maintain these bills. So when they approve your credit limit, it would be smart to be like, this credit limit is based.
On a budget. I know I can maintain.
What happens is once you start hitting the red meaning you don't hit your credit limit. You maxed out that card, you maxed out that loan, it's like, YO, will borrow. We'll let you borrow ten thousand dollars, right and you was like, dope, that's my limit.
Okay, Cool, Well I don't need all ten.
I just need I just need to right now, Okay, Cool, your bill at two thousand.
You'd be like, oh, I can handle that, you know what I'm saying.
Like, okay, I could pay that off probably in like I pay that off in like three months. Get this thing back down to like zero, back down to like one hundred dollars. Right, But let's just say the helmies hit you and they like, yo, we going to can Coon cuz oh nigga, Like yo, y'all doing, y'all doing a vacation. All right, look I'll pull up.
I just now just swipe my car. Well, I'll be good.
Right, you swipe that card, that bill go from two hundred a month because you only had two thousand on your thing to now eight thousand.
And then now you there and it's like, oh man, like.
I'm not finna be in can Coon like a broke boy, Like, I mean, I still got to get these drinks. You to maxed out that credit card? Now, listen, is the credit card gonna decline? No, it's a business. Now they're gonna let you swipe away. You just gonna get the email that's like, uh, you don maxed out your card because you want some mo Yeah, I mean yeah, I mean I don't already spent it. So yeah, you gotta raise that level. Well, we'll raise it to twenty. At
this point, you' like what the interest? I mean, it is what it is. I'm already out here already spent it. Are you living dangerous home boy?
But you donet already spent it? So what are you supposed to do? I mean, you gotta pay it.
It's already spent, right, I mean that's the US government. Let's take a break.
Yeah, so.
There are two positions, right, it's the bill came. The bill is more than what we budgeted. I need y'all to be cool for me to go ahead and pay this off. And we've never not paid our bill. Now you got your conservative wing that is like, nigga, this shit is weight y'all spending way too much. I'm not nah, fam, I'm not approving this number nigga until you promise me.
You not finna like keep spending like this shit man like you.
We can't just keep nigga, You're it's like you being irresponsible, bro, Like if you you can't afford this camt Coon trip, nigga, don't go to the camp.
What are you doing?
Like? And then you're looking at me on some like all right, hey the man, it's like, no, fool, like, what is you doing? I'm not aven this? And then you got the Democrat side that's like, well, the bill's already here. The time to talk about what's okay to spend is after this, like we'll we'll deal with that. I feel you. I mean, don't get me wrong, I feel you. But remember I wasn't the only one that
said let's go to Cancun. Nigga, we all here, like, hold up, you agreed, you agreed to buying these drinks.
You agreed to these tickets. Now that we hear.
You don't get to be the one that's financially responsible and get to just duck out on this bill to bill here now you would have could have shuder me, Nigga, we gotta pay the bill. We'll deal with my spending habits a little bit later. And another thing, you spend just as bad as I do. You just spend it on other shit. I might be into drinks, but nigga,
you into cars. You know, if we the government, it's like I might be into you know, these building programs, these bridges, but you went into that military like you buying absurd weapons like matter fact, you the biggest part of the build, nigga. So you're telling me to cut my little part. And the Republic is like, well, nigga, that part's the most important. You ain't got a life
if we're not buying these. And you couple all that the other character in the story, which is the American people, that is like, hey, nigga, buy me a drink.
Are you cute?
Well?
I want a drink.
This Nigga's like, Yo, I want this, Airbnb, Yo, I want this. No, they should buy us this. You said you was gonna take me. I want a new purse, like you know what I'm saying.
We the ones.
Demanded like telling you, and the only reason we get to say that is because you told us, like, hey, what you want, baby girl, We're going to cancn Okay, listen, let me tell you what I want. I don't know why I made the American this is. I don't know why I made us. I'm a dude, you know what I'm saying. So I don't know why my characters sound. Well, I do know why my characters sound like this. I do. It's absurd, but anyway, stick with me. Now, you know
what I'm saying. I mean you look he swiping the card. You feel me? So look you get to flex. You know what I'm saying, Cause you got me the pretty little thing you know on your little arm.
You know what I'm saying.
I'm your little piece out here in cant Con while you stunned the nigga. You need to make sure I got these, make sure I'm shining. But look the card doesne been swiped? This where we are, while we arguing over the bill. Is the time to argue over the bill. Ain't when the bill get here.
It's when we swiping the card, nigga. Is when you start arguing over the bill.
Nevertheless, this where we are, So what the government is doing is fighting over that bill is like do we pay it? And then you got people getting on the camera and they saying from both sides, like listen, we've never not paid our bill.
We're gonna pay the bill. We just need to agree on you know this.
That and the third right to us as the consumer is going, okay, so what happens if you don't pay a bill?
What in half? The government don't get they paycheck?
Right?
What? Yeah, no, your niggas don't get they paychecks.
If you work for a you got a federal job, I eat a military you just don't get your paycheck. But well, yeah, because we defaulted on our loan, then what you should say, let me get this straight. My paycheck is a loan, is money you borrowed? What and where the money you got? It seems extremely irresponsible, to which I would say, you are absolutely correct.
So here's what happened.
What happened was the bill comes, right, the bill for the US government and the Republic against pass a bill.
They're saying, listen, I'm not raising this debt ceiling, which is like like I said, yo yo, limit yo Max, Like, I'm not gonna agree for you spending and paying for all this until you agree to stop spending money in these particular areas, right because again, like our government can't fund Remember, the Congress holds the purse, right, So we're not going to approve you spending this bread if which is really not a spend, it's a payback because the
money's already spent. Right, We're not going to prove that until you agree to stop spending money on these four five things that we're sending two things, So you gotta want you pass that then we'll approve this. President Biden is like, bro, that's not a negotiation. This ain't the
bills already here, what are you talking about? We could talk about that, but like nigga, not now you're essentially like you're own sharking me here, and you're not even the person I borrowed money from, like you said, like you, this is your tripping, like this is not the time to talk about this, to which the Republicans are like, well, we tried to talk about it.
You ain't want to hear us. Then, now let's get into the policy stuff.
The policy stuff kind of works like this, like, Okay, how do you get out of this? Well, remember again, the House has to approve the thing, right, and the position of the House and the position of the White House couldn't.
Be further apart, right, So one way out of this. Now.
I'm writing this the day after his Mother's Day, so I don't know what it's going to be, you know, because the you know, red line you getting evicted is June first, and this will be out probably after that. So I don't know what's gonna happen. But either everybody's allowed their fiction or they both get to go on stage and say why didn't get punked by the other party?
You know what I'm saying?
And I got what we wanted because nobody really wants to default on the loan, but also nobody wants to look like a punk. Right, So if Biden can be like, look, dog, I got it done. I did my wheeling and Dylon, I wasn't extorted, I wasn't strong armed. I made them understand that this is better for the people, and I'm down to go talk about these cuts because like, yo, maybe you are right, maybe we are maybe we are
going crazy on these cuts. Things right, And then the Republicans get to be like, okay, listen, we made him come to the table. This fool understands that we not playing right. That's what y'all sent us up up here to do this. And they can make each other the enemy, and they can do this whole theater, and Biden can pretend like this ain't really about you know what I'm saying, that spending you know, on budget cuts and approving this are two separate things. They not, nigga, that's fiction, you
feel me. But they can both pretend like they got what they needed or you could do this other thing, which is essentially like this like emergency ripcord thing where you really only need five Republicans to approve, right, And how would you do that? Why I could get five of y'all to agree if I start cutting back some of this like COVID relief money, and I could say, yo, I'll stop spending this. I'll agree to stop spending this
before you send me this money. And that would make obviously the Republican base super angry because it looked like you got punked. But they'll get over it, you know what I mean, especially when they don't miss a check. Yeah, you feel me. So there's these ways to do that. And then there's this like really get into the policy stuff with the fourteenth Amendment. And that's the part that I was like, wait, what so what happened with the
fourteenth Amendment? It had to do with the Civil War, right when the Confederate Army, you know, loaned out moneys through land bills. And that's what I'm gonna start are the Confederate government. I'm gonna start getting into like who the government borrow money from anyway? Right in a second, but when they started loaning our money once the once the Civil War was over, they came back and we came back into the Union. The government was like, you
can't collect on debts. Nigga, your shit is gone right, Like no, nigga, no, noah, fam you don't get to collect because your whole shit was fraudulent anyway. So they put in here so that the Confederates can't do that to the Union and everybody else said that you can't just decide you're not gonna pay your bill and that you your bill is is like fraudulent. So they put into the fourteenth Amendments, oh, that the Confederates can't be like, well, nigga,
we not paying your money either. There's this thing where it's like no, no, no, no, no, no no, you have to pay. So some people are arguing even the debt ceiling itself is unconstitutional because of the fourteenth Amendment. You have to pay the bill, like you can't not pay the bill. Now, that's one interpretation, you feel me. Now here's where it gets super bonkers, right. You have this system like this, like when we approve a budget, y'all remember hearing all that stuff, like early on in any
presidential thing, they talk about approving the budget. What we're gonna spend what we're gonna do this and they send it these bills, and you got this Green the Bill, back better Bill. You have all these things. You approve this bill. The Congress says, boom, this is what we want done. Right, So that's according to the law. The president has to execute what y'all said to do, right. But then the debt ceiling says, but you could only do it with this amount of money, but you just
told me. So. Now the president has this mixed message. It's like, do I either a fulfill what you told me to do by these laws when you pass this budget, or do I be don't do half the shit you told me to do, or raise taxes. I don't because how else am I gonna do what the I don't There's no way to So it's this like it don't make sense. In other words, Yo, Mama sends you to the store to go buy bread a pack of cigarettes. This is real long time ago, because you can't buy
no pack of cigarettes. But go buy bread, milk, a pack of cigarettes, a case of cherios, and get yourself some candy.
And she'd give you five dollars.
That's not enough money, mom, So either I don't buy everything you said to buy, or I steal some of this, or you give me more money.
But your mama say make it work? Like what am I mom?
Like?
What am I supposed to do here?
And the answer is I don't know, because it's not like it's not in the Congress's power to make the president break a constitutional law to do what it said is gonna do either way. So I don't know, at least as of today. But I want to back up to a bigger question I had, and I was like,
who the hell you borrow money from? How does that what you're telling me our taxes aren't enough, which is where if you're gonna talk about the talking points of the Republicans on surface, you're like, yeah, that makes perfect sense. It's like it's not enough, nigga, do we pay you so much? I don't understand why where your money going to? And why don't y'all know how to manage it?
Right?
I mean, that's a logical question to me, So let me, let me, let me, let me dive into this. So, yes, the money goes into our national treasury, right, and yeah, part of that is our taxes, right, But our taxes don't cover the amount of spending we have.
So what the.
Department of Treasury does is it borrows money to make up the difference between spending and revenue.
Now, who do they borrow from.
It gets this the public, listen, the federal They borrow money by issuing securities, bills, notes, and bonds through the Treasury securities and they're super attractive because they're backed by the full faith of the US government. So if you go invest a little bread into the government, like y'all run you, I'll buy this called bill or bond, which again I can's it's enough. Money's made up, right, But it's to make sure that there's money inside the bank.
How does a bank crash is when everybody takes day money out at the same time because the money's not really there, right, it's not actual money. It's worth floating, you know, little beads around back and forth to pretend like there's money there. That's how a bank crashes is when everybody decides, nah, I think I'll take more money. Then there's not enough to cover.
It, right.
So what the Feds do is they say, well, let me loan out these bonds and be like, yo, we're good for it. We've never defaulted on a loan. That's that uncle when he say, I'm hold, I'm gonna hold this till Tuesday. Don't that uncle not only give you that twenty dollars back, but he give you twenty dollars a case of corona and an extra ten for being so cool to it? Right, So they borrow from the public.
But it's not like there's enough Americans to be able to cover the amount of money we actually need to run a government.
So who do we borrow from?
But I tell you what, before we even asked that, maybe these boomers can't answer their own follow their own advice to say, well, you're spending so much money on avocado toast. Maybe if you're smarter with your monkey, well maybe you don't need two air force ones. Maybe maybe military weapons research doesn't need to be a trillion dollars. I mean you, I mean you telling us maybe we spending money on stuff that like, Okay, hold up, now, the things I'm asking for is reasonable. I'm saying, I
look a drivable street. It seems to me seem like that'd be more wise spending. It's all I'm saying. The stuff you trying to cut is the stuff we kind of need to survive. The stuff you're trying to keep seems to me like you just protecting your own money. So before you start telling me you understand what I'm saying. Before you start telling us as young folks, we can't buy no house because we buying too much on avocado coats, Maybe you should understand inflation, my nigga, and maybe run
your own buddy better and follow your own advice. Now, who you borrow money from? This is who we borrow from. Check this out. This is according to the US Government Accountability Office, more than seventy five percent of foreign holdings of the US tragedy can be attributed to fifteen countries. China excluding Hong Kong and Mancheu and Japan are the largest holdings.
So we borrow money from other countries.
We borrow money from people we might potentially be a war with. So do you think it's super important maybe that we paid this money back? So when you when when you like, I need you to think about this for a second. What the hell kind of system is this? We borrow money from other countries, not only that we borrow from ourself.
So when we say in the government defaulting on their loans.
I used to think, okay, well how about this, let's just print a trillion dollar coin, because remember, we print our own money. It doesn't mean this is so stupid right here you go, we meant the money. So here everything's cool. Well, as we know, like we talked about before, that would cause the stock market and inflation to because that money means nothing, right because the money is going back to us. I don't I does this make sense to you? It don't make sense to me either. However,
this is where we are, so in conclusion. We are in the part of the movie where Smokey is trying to figure out how he gonna find this money for Big Worm. So he asking to other people because he'd had already smoked up all this stuff.
If you was supposed to sell, now he got to have either the weed or the money. And he running around and figuring out.
So the government has said you supposed to spend this much, Well I spent it, but what you asked me to do costs more than what you gave me money for, so now I got to approve the thing, and we just now you're like, well, no, you were supposed to spend money on this and not on this. Well, I don't know what the hell to do because Japan and China is waiting for they check, and so are the people that hold wealth in bonds in our own country.
And then what happens is if the stock market don't like all this, then we fall into another recession, and then your interest rates go up. So guess who end up paying the debt?
Nigga, you got it? Oh man, I don't know what the hell to tell you.
In conclusion, let us, as the voting constituents of the u United States of America, look dog government and say, I don't think you applying yourself smoky hood politics. You know, I don't know why I ain't thought of this before, but you know you could use promo code hood for fifteen percent off on terraform coolbrew dot com. Like I forgot I own that company and this is my pod. Y'all, go ahead and punch your promo cod hood that you in the cold brew gets you some cold brew, gonna
get get you some coffee. Yeah, Like, I can't believe, I ain't think it is still right now, y'all, y'all, This thing right here is recorded by me propaganda and East Lows, Boil Heights, Los Angeles, California. This thing was mixed, edited, mastered, and scored by the one and only Matt Awsowski.
Y'all check out this fool's music.
I mean it's incredible. Executive produced by Sophie Lichterman for Cool Zone Media. Man, and thank you for everybody who continue to tap in with us. Make sure you leaving reviews and five star ratings and sharing it with the hommies so we could get this thing pushed up in the algorithm and listen. I just want to remind you these people is not smarter than you. If you understand city living, you understand politics. We'll see you next week. Pe