The Bankrupt Economics of David Brat

Pragmatic Capitalism ^ | 06/17/2014 | BY CULLEN ROCHE

[ClearCase_guy]

I’d begin by pointing out that Brat is being very misleading when he mentions the $127 trillion in unfunded liabilities. the IER estimates that total fossil fuel resources owned by the Federal government are valued at over $150 trillion alone

"I can't be broke -- my checkbook still has checks in it!!"

[re_nortex]

The minimum wage must be abolished and Right to Work must be the law. Eliminate these anti-free market impediments on enterprise and American Exceptionalism will rise again. Once that happens, Red China will revert to a meaningless third world backwater.

[headstamp 2]

Who wrote this, Paul Krugman?

[kevao]

total fossil fuel resources owned by the Federal government are valued at over $150 trillion alone

They aren't worth squat as long as they're kept in the ground, which is exactly what Fedzilla plans on doing with them.

[hinckley buzzard]

Well, kind of dumb, but, whatever.

[bigbob]

Highly recommend the paper found at the 3rd link above. For those who actually wish to understand vs. repeating talking points.

[Blood of Tyrants]

Eliminate corporate taxes and roll back job killing regulations and this recession would be over in 3 months.

[kiryandil]

Cullen Roche - what a blowhard.

[eyeamok]

Just plain stupid, obviously a member of the moneychangers.

The United States has been operating in BANKRUPTCY since 8/15/1971 when Nixon closed the Gold Window and officially declared the United States BANKRUPT. Every last dollar has been LOANED into Society with Interest attached by the Central Bankers(Moneychangers) The Interest can only be paid through the Blood and Sweat of Labor. None of this is rocket science, just plain Fraud and Servitude.

[Vendome]

The author is a homophobic racist and an abject bore....

Contrarian for the sake of...

[GreyFriar]

I’m guessing that this was written by someone who does NOT want Brat elected.

[OldMissileer]

Highly recommend the paper found at the 3rd link above. For those who actually wish to understand vs. repeating talking points.

Thanks. I just downloaded and will read tonight when I can't sleep. Just had a knee replaced and I am running out of books.

[JRandomFreeper]

then the US government is the entity that exists to enact public policy by transferring some of this wealth at times.

Find THAT authorization in Art 1, Sec 8 of the Constitution.

This guy is a delusional dictator wannabe.

/johnny

[JRandomFreeper]

so it makes no sense to argue that the USA is spending “money we do not have” while also claiming that the USA is the “wealthiest country in the world

It's not the damn government's wealth to be spending.

/johnny

[PubliusMM]

So...why the hell does fedgov ‘own’ anything? This is preposterous. And, further evidence that we need to rein in these clowns, or replace them.

[dalereed]

The clown that wrote this crap is in bed with the bastards that caused the problem!

[Lurkina.n.Learnin]

BFL

[Albion Wilde]

Oh, here we go... didn’t take long.

[blueplum]

well I’m no economist but if one sells the $150T in oil reserves then the $127T debt is paid, but if the spending stays the same, and in fact increases because we have to buy back that oil, then up the debt goes again (and down goes the credit rating), this time without oil reserves to guarantee it. As a homeowner, I wouldn’t risk being in debt the total value of my paid-off home. So to me, it doesn’t seem like the $150T in oil and $200T in non-liquid assets is a good foundation for an argument.