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but ask yourself -- Why are the Tea Party voters concerned about rising public debt?
I'm honestly not sure, but I think they believe that it will lead to "runaway inflation."
They only freak out about it when they are not the source of the inflation with da guberment backed, bank credit FIRE sector, printy press. Da gubement draws the line and then the tea baggers value the property with the FIRE hose. If no one is interested in volunteering to back da guberment secured printy press, they give credit lines to the homeless and criminally insane to increase the value of the asset to run da guberment backed scam of the bank credit printy press. When someone all the way in Europe decided to stop buying that crap , da guberment printy press stuffed the tea baggers full of cash.
After the crash and subsequent distorted prices returned to normal , leaving suckers in negative equity form housing bid up by the dregs, the banker credit printy press was broke; so the Federal deficit printy press started a runnin. But now the Bernanke (bond to house bloat/shadow housing cartelization) plan seems to have worked. Its time to return the printy press inflation contraption back to the tea baggers(fictitiously shrink housing, prop up prices, ax bond yields , bloat phony equity, and print away). Why share the inflation profits with da guberment?
What many fail to realize, is that if we continue on our path, at some point we will get to where we can no longer afford to pay the interest on our loans, forget about paying down the principal.
Honestly, I think that's what scares the Tea party people.
Spending more money is never hard, any idiot can do that. Cutting back on spending, however, is very painful and difficult.
What many fail to realize, is that if we continue on our path, at some point we will get to where we can no longer afford to pay the interest on our loans, forget about paying down the principal.
Honestly, I think that's what scares the Tea party people.
Spending more money is never hard, any idiot can do that. Cutting back on spending, however, is very painful and difficult.
With any nation carrying debt denominated in their sovereign currency, inflation should be the worry, not default.
For those interested, read about the Trillion Dollar Coin gambit and see how we could eliminate much of that principle. If we so desired.
And if not just change the law. Its all fake anyway since the FED can stick it on its balance sheet and send the proceeds back to the Treasury. You would think that would be obvious by now since that is exactly what they are doing. Fake debt is better then any coin. You get to tell everyone you are broke while you live it up on the sly. Go out with family and friends sometime and tell them your sad story. They buy your meal and you upgrade your cable channel package. Try that telling them about your platinum coin.
In fact I think I am going to go into huge debt to myself. That way if friends and family want to borrow money, I can show them my liabilities....skipping that little detail that I also have the asset. Can you spare a nickel, partner?
He merely believes that his audience is that dumb.
And that they will fall for such an obvious fib.
Cheney thought his constituency was too stupid to realize there is no debt. He was right about that. Deficits don't matter in anyway his good ole boy, nitwit bean counters think it does. Da guberment prints money.
So spending yet more money than we have is ok. Let me try that on my creditors................
Unlike you and I, our businesses and states, our Federal Gov't is monetarily sovereign, like many successful modern nations. It's nice to be able to create money when your economy grows, your population grows or you have to fight a World War or a serious economic recession. See America win the War! See America succeed! See Greece fail!
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