Posted on 05/09/2016 6:09:29 AM PDT by GIdget2004
Donald Trump assailed the media on Monday for what he said was a misrepresentation of his comments on debt, rejecting the notion that he would have the United States default on his debt.
"I said if we can buy back government debt as a discount. In other words, if interest rates go up and we can buy bonds back as a discount, if we are liquid enough as a country we should do that. In other words, we can buy back debt as a discount," the presumptive Republican nominee said in a telephone interview on CNN's "New Day."
Those who said he wants to buy debt and default on it are "crazy," he added.
"This is the United States government. First of all, you never have to default because you print the money. I hate to tell you. So there's never a default. But the point is it was reported in the New York Times incorrectly," he said, referring to a critical Times article that ran on Friday.
That article examined an interview Trump gave to CNBC last Thursday in which he suggested that he could reduce the national debt by persuading U.S. creditors to accept less than full payment.
"It was reported in the failing New York Times and other places that I want to default on debt," Trump said. "You know, I'm the king of debt. I understand debt probably better than anybody. I know how to deal with debt very well. I love debt but you know, debt is tricky and it's dangerous and you have to be careful and you have to know know what you're doing. If there's a chance to buy back debt as a discount, interest rates up and the bonds down and you can buy debt. That's what I'm talking about."
(Excerpt) Read more at politico.com ...
Well then, this proves Trump has the intelligence of a 3 year old.
No, but your post DOES prove that about the Never Trump folks.
We get it...you’re all in for Hildebeast. Shouldn’t you be peddling that drivel over at the cRuzlost bum hurt site?
Time for you to opus out.
“One thing Ive wondered about for a long time, is if the US printed $19 trillion to cover the national debt, what would be the rate of inflation, compared to now?”
Common misunderstanding.
Inflation does not arise from money printing, but from a lack of confidence in government (which grows daily). The historical massive printing occurred after confidence disappeared and inflation began.
If there are any. And the ones that exist don't just raise their prices to just under what the tariffed goods are going to cost.
The benefits of protectionism:
repatriation of industry
general increase in economic activity
decreasing or no trade deficits
balanced Federal budgets
higher levels of baseline employment
less social stress
less political will for socialism
increased national security
raising interest rate will not crater the economy.
Buy from domestic suppliers and avoid the tariff. If the domestic suppliers raise prices then someone will come in a take up market share so prices will adjust downward accordingly. It is called greed and greed can be useful. And if you don’t think that will happen the you really are not a believer in the theory of supply and demand.
Great, another guy whose solution is to print more “money”. I’ll keep buying metals.
That game ceases when the dollar is no longer the reserve currency. That day is coming soon. Many governments are insisting on payment in silver instead of USD at the current time.
Eventually. If it doesn't turn around in 4 years, Trump will be a one-term President.
What Trump said is correct. While you and I can default on a debt, because we run out of the ability to pay for it, the Fed doesn’t.
We can just print more and more money to service the debt. Weimer Republic did this to pay off their debts to France and England. Inflation was rampant. The same is already happening here.
It will force companies to return to the U.S. because their competitors in the U.S. will be kicking their ass in the marketplace.
That’s how it works in the real world.
Carrier and Ford will move operations back so fast it’ll be amazing. Especially when you can buy a Dodge or GMC for 35% less.
i think it is pretty amazing that we have a candidate who has forced a discussion about the best kept “dirty little secret:” the extent of the debt and that it will have to be dealt with very soon, a notion most, in and out of politics, are terrified of discussing, because it is at a terrifying level.
You win!
What about the over $2T in US goods and services exports your tariffs will kill?
Where do they fit into your model?
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