Posted on 05/06/2016 1:00:04 PM PDT by SeekAndFind
Edited on 05/06/2016 1:41:09 PM PDT by Admin Moderator. [history]
Reminds me of something Mike Murphy said about Trump in the aftermath of Jeb’s collapse. The logic in favor of nominating another Bush was always, er, complicated, but the logic against nominating a loose cannon is straightforward.
I’ll bet even Murphy didn’t think Trump would advertise the possibility that America’s creditors might not receive payment in full in a Trump administration. Choose your own preferred term for what he’s recommending here — renegotiation, bankruptcy, default.
(Excerpt) Read more at hotair.com ...
All will end well if his term is 50 years x2.
By “creditors,” does he mean citizens with Savings Bonds and Treasury Bills ?
He thinks this bankruptcy court and this will have no effect on trade or the value of the U.S. Bonds.
A very, very not good idea. Sorry, very not good.
The past 7 years have IMO resulted in a tremendous mistrust of the US. There is a lot of work to do to reclaim whatever status we once held. A partial debt default would work exactly the opposite to that aim. Interest rates would soar; while the rest of the world is moving to NIRP.
This would be a world shaking event and it’s difficult to see how anyone would come out well. Maybe a George Soros might come out well. I think it would tank the USD with extreme prejudice. My opinion is that it would be massively destructive and produce a grotesque worldwide credit crisis.
I support DJT but I think he is out of his league here. Yes, despite his billions.
I’m not reading the article you posted from the worst writer on Internet but I did see what Trump said. Amongst budget cutting, asset sales, use of federal lands for income again, the debt terms are also in the mix. If China held 2 trillion in debt from the U.S. Or Japan held another 1 trillion and one were about to renegotiate those economic relationships on a go forward basis, including market access, barriers, tariffs, non-tarrif barriers, stolen intellectual property and the like, one would be negligent to leave that debt of the negotiation, no?
When will posters, bloggers, etc. learn to leave the negotiations to Trump? He’s good at it, pssst- pass it on!
The dirty secret is that we already defaulted in part the national debt through currency debasement.
The real default was in 1971. Everything since has been a shell game.
Do they think the Chinese don’t? The lender is the one at risk the day after a dollar is lent and every day thereafter until the debt is repaid.
>> “I would borrow, knowing that if the economy crashed, you could make a deal.”… <<
Does that include Social Security payments? Military payroll? Contractor payments? State matching funds?
Mike Murphy is a first class doofus...I’ll wager Trump knows more about negotiating debt restructure than all these so-called experts combined.
Now to get the 2 bil back that Obama just delivered to Iran.
RE: By “creditors,” does he mean citizens with Savings Bonds and Treasury Bills ?
Doesn’t really matter. Let’s say he’s referring to the Chinese and the Japanese 9 two of our biggest treasury holders and buyers ), how will paying LESS than what was promised to them NOT affect the treasuries US citizens hold?
Is he going to make a condition that says — partial default only on treasuries held by foreigners but not US citizens? How is this going to be implemented?
RE: Workable....
Can you elaborate?
It’s going to be the “Art of the Deal.”
He will be applying those principle to Mexico and the Wall, to Russia, to China, in spades to Iran, etc., etc.
Wow, so much for US T-bills being a safe place to park money.
[They were left with no industries, no jobs, no money, and a lot of debt.]
Yes, the U.S.A.’s destiny. People think it can’t happen. We’re in a very dangerous situation. People flirting with Hillary and Bernie and “Global Warming” haven’t a clue.
[Now to get the 2 bil back that Obama just delivered to Iran.]
2 Billion?
Try 150 Billion. Aided and abetted by Cruz, Pat Roberts of Kansas, etc. It’s in the voting record.
That's what my dad told me, which became apparent since he told me that growing up in the 30' :) His favorite teaching was "Never be a borrower nor a lender. They are both bad! You may find it very hard to pay or the lender may not pay you." Remember the "Greatest generation". That's why they were. I do believe foreign lenders who have defense arrears can bargain to reduce our NATIONAL DEBT as Mr. Trump has indicated.
I’m guessing you mean just a recent installment on the 150 billion.
RE: His favorite teaching was “Never be a borrower nor a lender. They are both bad! You may find it very hard to pay or the lender may not pay you.”
Did he ever discourage you from going into the banking business or working for a bank?
“The technical term is “partial default.””
I thought the technical term was welching. Or is it welshing?
Power to the People right on!
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