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Does everybody realize how much 2 trillion dollars is? Hell the GDP of China is 6 Trillion. Canada is barely 2 Trillion. So who exactly will "loan" us this money? There is only one option and that is little Timmy Geithner will have to print up 2 TRILLION dollars over at the treasury. This is the insanity congress voted for.
As the trillion in cuts? LOL. It's 100 billion a year and how much will be eaten by the interest on the 2 trillion just printed up?
No these fools in congress have stamped our failure. Inflation will rise, the spending marches on, all the fools in DC take credit for "saving the economy" when in reality they just put the final nail in the coffin. And to top it off they vilify the tea party who are the only folks in DC who make absolutely any sense. Terrorists and hijackers they are being called. Well the ones who passed this nonsense are the terrorists in my eyes.
Enjoy the next two years [MOD CUT] ........if we make it that long........you voted for it.
Last edited by Ibginnie; 08-04-2011 at 08:08 AM..
Reason: Flamming
From the printing presses. The FED will continue to buy our debt, devalue our currency, and bring this nation closer toward the brink of destruction The only thing that was accomplished yesterday was to allow Obama a blank check through the elections of 2012.
From the printing presses. The FED will continue to buy our debt, devalue our currency, and bring this nation closer toward the brink of destruction The only thing that was accomplished yesterday was to allow Obama a blank check through the elections of 2012.
Yep I'm sure he and his team are busy trying to figure out the most effective way to buy votes. I'm sure extending unemployment, making sure everyone qualifies for food stamps and a one time check of $500-$1000 is on the table.
Is there a reason that amid the "cuts" that they haven't de-funded the Congressional plane fleet at Anderws AFB? What are there, 3-4 airports within 40 miles of the Capitol?
Is there a reason that amid the "cuts" that they haven't de-funded the Congressional plane fleet at Anderws AFB? What are there, 3-4 airports within 40 miles of the Capitol?
Hey now. Those are just jets. Jets are fine. It's corporate jets that are evil.
Well there is one happy camper, Uncle Ben has to be thrilled because Q3 is around the corner. He can buy boat loads of treasuries, he thinks that is good for his portfolio
I had high hopes that there would be real cuts but should have known better. My rep voted yes and when I see his name in 2012 I will be voting no.
Does everybody realize how much 2 trillion dollars is? Hell the GDP of China is 6 Trillion. Canada is barely 2 Trillion. So who exactly will "loan" us this money? There is only one option and that is little Timmy Geithner will have to print up 2 TRILLION dollars over at the treasury. This is the insanity congress voted for.
As the trillion in cuts? LOL. It's 100 billion a year and how much will be eaten by the interest on the 2 trillion just printed up?
No these fools in congress have stamped our failure. Inflation will rise, the spending marches on, all the fools in DC take credit for "saving the economy" when in reality they just put the final nail in the coffin. And to top it off they vilify the tea party who are the only folks in DC who make absolutely any sense. Terrorists and hijackers they are being called. Well the ones who passed this nonsense are the terrorists in my eyes.
Enjoy the next two years [MOD CUT] ........if we make it that long........you voted for it.
The Fed, they are already the largest owner of our debt, they have over $1.6 T in our debt now. So we are paying them interest directly now.
I wish the treasury would just issue cash, it would at least be debt free.
Last edited by Ibginnie; 08-04-2011 at 08:09 AM..
Reason: edited quoted post
I'm not defending the policies, because I don't know if I fully understand them -- but to put this into context, during the housing bubble, the mortgage market was expanding at about $1.5 trillion per year, and that was also money that was being created out of thin air.
Since the 2008 crisis, that $1.5 trillion annual injection of new money just vanished completely. The mortgage market, which is our primary way of creating new money (depending on your opinion, Friedman might disagree) is actually getting smaller.
So, we do things like print $2 trillion per annum on the presses to fund the government, with the thinking that this will help create a stream of new money that vanished in 2008 when TSHTF. If you focus solely on public debt, yeah it looks like a completely out-of-control explosion of debt... and plenty of people ONLY look at public debt because they don't know any better. However, if you look at combined public and private debt, it does not look so severe. I don't know what the charts look like exactly, I don't know if $2 trillion in new fiat money is too little or too much to make up for the annual shrinkage of private credit money.
Last edited by le roi; 08-02-2011 at 01:27 PM..
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