Posted on 10/24/2023 3:58:00 PM PDT by JV3MRC
I told them to have a check ready that I could be moved out in a week. Also not amused.
Just see what $2T deficit spending will get you.
Oops
Oct 11, 2023The Fed and China have changed course. Behind the surge in U.S. government bond yields over the last six months is a simple fact: China and the Fed — long the two biggest single players in the market — aren’t buying..
The man is a glittering jewel of colossal ignorance. The fact that he got a Nobel in Economics tells a hell of lot more about how the Nobel standards have dropped.
I can see them saying the same thing when it’s 66 trillion. I remember the day the debt went over a trillion during Reagan’s time. They thought we were economically done then.
Crud-man hasn’t been right since.....never.
Oh they are paying out a lot. The interest on debt MUST be paid, every year, there is no way to default on interest.
Very soon, the interest on national debt will be bigger than total defense budget. That is not chicken feed.
Who ever said that has wet diapers. Because GDP was multiple times greater than one Trillion during Reagan. Now the debt is bigger than GDP by 25-30% already. For people living in Rio Linda what that means is the ability to pay back any principle is negative. Which simply means we will be paying interest in perpetuity on any thing added to national debt.
With higher interest rates due to high inflation, the interest paid on national debt is growing faster, soon to be bigger than entire defense budget.
The deficit spending by federals is causing higher inflation. Too much money chasing available goods.
.......................
This man has a fancy degree from an Ivy League University.........
1) Find a magic way to pay off that $33T debt. (You know we can't do that.)
2) Just default on our debt and tell people we have no intention of making any future payments. (You know we can't do that.)
So. Two choices. Both impossible. But we have to choose one.
And I say it's basically the difference between "de facto" impossible and "de jure" impossible. The FACT is that we cannot come up with $33T. So, the de facto situation is that we cannot ever pay off that debt.
But when we say defaulting on the debt is "impossible" that is merely a de jure statement meaning that we are not supposed to do that stuff. It's crass. It's Third World. It's not honorable. There would be repercussions. Defaulting on the debt would be embarrassing. But NOT impossible. Which is why we will do it eventually.
Buffoon, lying buffoon.
I understand that. All we need to do is sell some of our national land which we have way too much of and the debt could be paid pretty easily. I remember a few years ago somebody wanted to buy a bunch of land by the Grand Canyon (it was miles away). Everyone had a fit so the federal government changed their minds. We might have only 30 trillion had they sold the land. Dummy’s.
Yup,
Pretty soon I’ll light my fireplace with US dollar bills, cheaper than the firestarter they sell now at the grocery store.
Good comparison.
It can’t be that bad, the band is still playing!
I’m surprised the MSM and Google haven’t taken all this content down or buried it.
I have noticed a lot of things which appear very 1984ish.
We can just print more money and then inflation makes the debt less.
I’m sure Krugman can explain the sound economic reasoning in all of that.
No it’s not. It’s a complete failure.
Well, who you gonna believe? Me, or your lying eyes?
Evidence is abundantly clear for those who choose to take a look around. This is a dumpster fire.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.