Donald Trump..... Screw the politicians!

Newsflash. A balanced budget does not mean they don't have financial obligations. Balancing the budget simply means they can pay current debt payments...until they can't. That's what got Detroit.

 

Different side of the same coin there chief. If a city does not have the funds to keep paying for services, they have to either cut services which is what Detroit has done I believe or declare bankruptcy. They cannot run a deficit as they cannot print money unlike the federal government.

 

Yeah, I know that you and I have talked about this before and I still don't believe you over the dozens of economists in this country. I'm not sure where you get your ideas on the National Debt but they sure don't seem to be real accurate. Do a search on the National debt and how it affects us, read all the economists opinions, look at history, then get back to us.

 

Man, I'm still not buying this. So what is your answer? Just keep printing money and driving down the value of the dollar? What happens when the govts can't make its debt payments?

 

Back to the topic of Trump momentarily, Fox continues to not back down and Megyn Kelly confirmed as moderator for March 3 GOP debate on Fox News.

 

you're kidding right? remember these from that thread i posted? cause... the internet does... the internet does...

what did you... go from that a year ago to getting an Econ PhD? get serious. plus look at who authored some of the links i posted in the other thread. "do a search on national debt..." haha, maybe when i'm done, i'll look up what a demand curve means and cap off my studies...

answer to what? does the dollar look driven down lately? you're trying to isolate a single factor when that end result probably has like 40 that contribute. why wouldn't the government be able to pay its debt? i think you're still working under the guise that we don't have a fiat currency. also don't confuse wreckless and useless and wasteful spending on projects/goods/services, with the concept of not using public debt financing for spending... they are not the same.

i just wish there were more JTWs in here...

 

Ernie Boch Jr. appeared on CNN this morning to support his “friend” Donald Trump. Ernie’s credentials are that he inherited his father’s Boston area car dealership empire, went to the Berklee School of Music (A breeding ground for Scientologists.) and formed his own rock band utilizing the remnants of Boston and the guy who played saxophone in Eddie and the Cruisers. He has unsuccessfully tried to donate a million dollars to the Donald.

Ernie rationalized Donald by stating that if you add up all of his positives and negatives, he had more positives than negatives. He went on to paint the analogy that if you found yourself in a bar at 2AM with several women and you had to take one of them home, which one would you take? (I guess that meant that he would prefer to sleep with Trump.) At this point host Chris Cuomo smelled blood and he laid into him a bit. Ernie then told the convoluted story of being pulled over by the police and instead of getting a ticket as he feared, was congratulated by the cop for his stance.

The interview was abruptly ended when it was apparent that it was going nowhere. Laughter from the camera crew could be heard.

http://www.rawstory.com/2016/02/tru...bar-and-you-have-to-go-home-with-one-of-them/

 

Wow....ernie boch.....sometimes I feel like I never left.

 

So your answer is for the FED to just keep printing money that is backed by "confidence" eh? As with anything, the more you have of it, the less it's worth. Why do you think a loaf of bread cost maybe 6 cents in the early 1900's and now it's over a 1.40? Inflation right? Why do we have inflation?

I don't have an Econ PhD. Just a lowly BSME. So what, I do have common sense.

 

Isnt that what essentially happened during the housing crisis, loans being backed by "confidence" to people who in reality had no chance of paying them back? That'll never happen to the government though right.....

 

Ya, that's why the feds are discussing NIRP's. Everything will be OK, just be confident. I saw there's a restaurant in Wisconsin that will sell you their food for early 1960's prices....as long as you pay in silver coins.

Here it is.....but go ahead and trust the ol FIAT. I'm converting to silver

http://www.theblaze.com/stories/201...tomers-who-pay-with-coins-minted-before-1965/

 

Not to turn this into an econ class but since you provided only one data point with regards to inflation I feel compelled to ask you if wages have stayed stagnant over the time frame you highlighted in your example?
Let me be clear, I am not making a value statement regarding your opinion about the FED but rather asking you to show both sides of the coin. The key lies in purchasing power parity IMO.

 

Everything is being inflated. Wages and cost of goods. I guess I don't really understand the point...

 

Not that it matters but I think Trump played his cards wrong on this. He should shut up and show up and get over his self created issues with Megan. Oops Megyn.

 

Nope. Not enterily.

Loans were given out because banks could make money out of them.

Initially because they thought the housing market 'could not crash' and there was still money to be made in repos.

Afterwards, because they found a way to package the risky loans into investments bonds that were well rated.

Then they continued to dilute those bonds with even more crappy loans THAT THEY GAVE OUT! And the bond rating agencies kept their good ratings.

The banks that survived, and made a killing, were those who insured (or bet against) the bad loans they had signed out.

So the Con, in this case, were our lovely banks.


The con was the repeal of Glass-Seagall act (among others).



Not that you will care. Please continue...

 

Is that a hard or soft "g"?

 

Of course Barney Frank had nothing to with enabling the banks. Because everyone should be able to own their own house regardless.

 

exactly. so have wages outpaced the cost of goods over the time period you listed?

 

Fanny and Freddy also had clean hands.
Interfering government had no part in the mess.