CDZ How important is spending and debt in government?

[320 Years of History]

Unlike Greece we are not dependent on income to justify spending as our system is more about maintaining the value and demand for the dollar.

??? Is Greece on the gold standard?

Our system depends on holders of dollar-valued, and specifically U.S. Government issued, debt believing they will get paid. The dollar's value has something to do with that, but not much in the scheme of things, that is unless the U.S. goes on a dollar-printing spree. I seriously doubt that'll happen, but it could. If it did, we'd only once be permitted to get away with doing so.

• Fiat Currency: What It Is and Why It's Better Than a Gold Standard -- The Motley Fool
• The Classical Gold Standard: Some Lessons for Today
• The International Gold Standard and U.S. Monetary Policy from World War I to the New Deal

 

[eagle1462010]

We are in uncertain times......and History shows that eventually the party is over in regards to the Reserve currency of the World.................

World Reserve Currencies: What Happened During Previous Periods of Transition?

 

[320 Years of History]

Unlike Greece we are not dependent on income to justify spending as our system is more about maintaining the value and demand for the dollar.

??? Is Greece on the gold standard?

Our system depends on holders of dollar-valued, and specifically U.S. Government issued, debt believing they will get paid. The dollar's value has something to do with that, but not much in the scheme of things, that is unless the U.S. goes on a dollar-printing spree. I seriously doubt that'll happen, but it could. If it did, we'd only once be permitted to get away with doing so.

• Fiat Currency: What It Is and Why It's Better Than a Gold Standard -- The Motley Fool
• The Classical Gold Standard: Some Lessons for Today
• The International Gold Standard and U.S. Monetary Policy from World War I to the New Deal

There are some other documents one should read/understand as goes the matter of debt and monetary policy:

• Money in Historical Perspective
  
• Was the Federal Reserve Constrained by the Gold Standard During the Great Depression? Evidence from the 1932 Open Market Purchase Program
  
• Gold, Fiat Money and Price Stability

 

[320 Years of History]

We are in uncertain times......and History shows that eventually the party is over in regards to the Reserve currency of the World.................

World Reserve Currencies: What Happened During Previous Periods of Transition?

History also shows that our is a time influenced by vastly more and more complex factors than any of years prior to the latter half of the 20th century and beyond. I wonder what Mr. Ferreira would say about that, but assuming you are not he, what say you about it? Also, how does the fact that there isn't any single reserve currency in the world today factor into the conclusions in his essay?

Reading that paper, I gleaned the author has an "axe to grind" more than much else. I think that because it's a pretty well composed essay, but it's devoid of the references it should have to up the ante on its rigor. He states a lot of truths, but draws little to none of the correlations needed to arrive conclusively at his final stance. Although, sure, the info he's presented is conclusive enough for him.

And, no, I'm not necessarily disagreeing or agreeing with him. I'd need to research the matter more to do that. I'm just sharing my thoughts on the sufficiency of his overall argument as being something I should accept as so.

 

[eagle1462010]

 

[320 Years of History]

I'm sure there's something you want us to take from that quote. I don't know what it be?

 

[eagle1462010]

I'm sure there's something you want us to take from that quote. I don't know what it be?

We need the world to borrow from to pay the bills..............If no body wants our currency anymore then we are Insolvent........How long..........who knows...........but you can't borrow your way into prosperity................and the quote was a warning from the founding fathers.............to not allow the banks to control the currency.............and I agree..............

The world is prepping to ditch our currency...........and I believe that is

 

[Slade3200]

Your article backs up my point... We issue our own currency and thus will never default. Our economy is dependant on the act of borrowing which creates new money so we will always be in a state of debt and most likely always in a deficit. This is ok as long as GDP is growing. For us to have a surplus we would be putting the private sector in a deficit and would likely depress the economy. The national debt isn't the same kind of debt as people or business have with ther credit cards or loans, it is more so a reflection of public and foreign investments, with a smaller fraction of discretionary spending... Greece uses the Euro and does not issue its own currency so when they went under they needed to be bailed out so they could stimulate growth. This is Something that the US will never have to deal with.

 

[Slade3200]

We are in uncertain times......and History shows that eventually the party is over in regards to the Reserve currency of the World.................

World Reserve Currencies: What Happened During Previous Periods of Transition?

You think China is on deck?

 

[eagle1462010]

Your article backs up my point... We issue our own currency and thus will never default. Our economy is dependant on the act of borrowing which creates new money so we will always be in a state of debt and most likely always in a deficit. This is ok as long as GDP is growing. For us to have a surplus we would be putting the private sector in a deficit and would likely depress the economy. The national debt isn't the same kind of debt as people or business have with ther credit cards or loans, it is more so a reflection of public and foreign investments, with a smaller fraction of discretionary spending... Greece uses the Euro and does not issue its own currency so when they went under they needed to be bailed out so they could stimulate growth. This is Something that the US will never have to deal with.

6 other countries said the same thing.............6 empires with the world in their hands........and the world's reserve currency holders.................

When the world moves away from the petro dollar we will pay a price for our stupidity.

 

[Slade3200]

I'm sure there's something you want us to take from that quote. I don't know what it be?

We need the world to borrow from to pay the bills..............If no body wants our currency anymore then we are Insolvent........How long..........who knows...........but you can't borrow your way into prosperity................and the quote was a warning from the founding fathers.............to not allow the banks to control the currency.............and I agree..............

The world is prepping to ditch our currency...........and I believe that is

The world isn't even close to ditching our currency, we still have a very stable economy despite the crash in 2008 and the dollar is still wry strong and stable around the world. Unless there is a revolutionary new economic system that the antarticans are developing in secret I don't see an alternative currency that is poised to become the standard... do you?

 

[eagle1462010]

We are in uncertain times......and History shows that eventually the party is over in regards to the Reserve currency of the World.................

World Reserve Currencies: What Happened During Previous Periods of Transition?

You think China is on deck?

No............electronic currency will be the new reserve currency.........not sure what it will be called...................

We will see what the Globalist will go for after we finish screwing ourselves over...........................

Nothing lasts forever.......and History always repeats itself.

 

[Slade3200]

6 countries... 6 empires ago we needed to send messages via telegraph or carrier pigeon... Our wold has grown leaps and bounds since then... If anything the next/last evolution will be a one world currency arising from the likes of Bitcoin... We aren't even close to anybody considering that as a serious idea or threat... There may be a time when we all "color up" if I can use a poker term, however we won't see it in our lifetimes and who knows what kind of an evolved world it will be when that time comes.

 

[eagle1462010]

I'm sure there's something you want us to take from that quote. I don't know what it be?

We need the world to borrow from to pay the bills..............If no body wants our currency anymore then we are Insolvent........How long..........who knows...........but you can't borrow your way into prosperity................and the quote was a warning from the founding fathers.............to not allow the banks to control the currency.............and I agree..............

The world is prepping to ditch our currency...........and I believe that is

The world isn't even close to ditching our currency, we still have a very stable economy despite the crash in 2008 and the dollar is still wry strong and stable around the world. Unless there is a revolutionary new economic system that the antarticans are developing in secret I don't see an alternative currency that is poised to become the standard... do you?

Not yet........but eventually will .........this is the IMF now including China in the basket...

 

[eagle1462010]

6 countries... 6 empires ago we needed to send messages via telegraph or carrier pigeon... Our wold has grown leaps and bounds since then... If anything the next/last evolution will be a one world currency arising from the likes of Bitcoin... We aren't even close to anybody considering that as a serious idea or threat... There may be a time when we all "color up" if I can use a poker term, however we won't see it in our lifetimes and who knows what kind of an evolved world it will be when that time comes.

The end result is always the same when the Global powers recede, and others take over the world production........

Our currency is propped by oil.............and others are challenging that now............will not happen over night but it will eventually bite us in the ass.

Either way we should not continue to spend beyond our means.........It is fiscal Stupidity.

 

[320 Years of History]

6 countries... 6 empires ago we needed to send messages via telegraph or carrier pigeon... Our wold has grown leaps and bounds since then... If anything the next/last evolution will be a one world currency arising from the likes of Bitcoin... We aren't even close to anybody considering that as a serious idea or threat... There may be a time when we all "color up" if I can use a poker term, however we won't see it in our lifetimes and who knows what kind of an evolved world it will be when that time comes.

The end result is always the same when the Global powers recede, and others take over the world production........

Our currency is propped by oil.............and others are challenging that now............will not happen over night but it will eventually bite us in the ass.

Either way we should not continue to spend beyond our means.........It is fiscal Stupidity.

• http://scholar.princeton.edu/sites/...review_of_international_political_economy.pdf
• http://www.adb.org/sites/default/files/publication/156337/adbi-wp482.pdf
• http://eml.berkeley.edu/~eichengr/rise_fall_dollar_temin.pdf
• http://scholarlycommons.law.hofstra.edu/cgi/viewcontent.cgi?article=1091&context=jibl -- This paper is from 2008. You can now read it and see if its predictions have come true.

 

[eagle1462010]

6 countries... 6 empires ago we needed to send messages via telegraph or carrier pigeon... Our wold has grown leaps and bounds since then... If anything the next/last evolution will be a one world currency arising from the likes of Bitcoin... We aren't even close to anybody considering that as a serious idea or threat... There may be a time when we all "color up" if I can use a poker term, however we won't see it in our lifetimes and who knows what kind of an evolved world it will be when that time comes.

The end result is always the same when the Global powers recede, and others take over the world production........

Our currency is propped by oil.............and others are challenging that now............will not happen over night but it will eventually bite us in the ass.

Either way we should not continue to spend beyond our means.........It is fiscal Stupidity.

• http://scholar.princeton.edu/sites/...review_of_international_political_economy.pdf
• http://www.adb.org/sites/default/files/publication/156337/adbi-wp482.pdf
• http://eml.berkeley.edu/~eichengr/rise_fall_dollar_temin.pdf
• http://scholarlycommons.law.hofstra.edu/cgi/viewcontent.cgi?article=1091&context=jibl -- This paper is from 2008. You can now read it and see if its predictions have come true.

What is the point you are asking from the paper..........the currency manipulation that deflates currency to increase export.........................

Doesn't matter...............continuing to print paper on top of paper on top of paper will eventually have consequences.................

Govt's should want the people to have a strong currency..............not deflate it...............how does that help the people.

Our gov't should pay out what it brings in..............Fiscal responsibility..........

If it doesn't matter then why not just grad 18 Trillion and flood the united states with money and rebuild the entire infrastructure.................Hell just give every American money..................that's not gonna happen.............the reason we are not Greece is because we hold the reserve currency of the world..................and gives us the power to borrow well beyond our REAL economic means.

 

[320 Years of History]

6 countries... 6 empires ago we needed to send messages via telegraph or carrier pigeon... Our wold has grown leaps and bounds since then... If anything the next/last evolution will be a one world currency arising from the likes of Bitcoin... We aren't even close to anybody considering that as a serious idea or threat... There may be a time when we all "color up" if I can use a poker term, however we won't see it in our lifetimes and who knows what kind of an evolved world it will be when that time comes.

The end result is always the same when the Global powers recede, and others take over the world production........

Our currency is propped by oil.............and others are challenging that now............will not happen over night but it will eventually bite us in the ass.

Either way we should not continue to spend beyond our means.........It is fiscal Stupidity.

• http://scholar.princeton.edu/sites/...review_of_international_political_economy.pdf
• http://www.adb.org/sites/default/files/publication/156337/adbi-wp482.pdf
• http://eml.berkeley.edu/~eichengr/rise_fall_dollar_temin.pdf
• http://scholarlycommons.law.hofstra.edu/cgi/viewcontent.cgi?article=1091&context=jibl -- This paper is from 2008. You can now read it and see if its predictions have come true.

What is the point you are asking from the paper..........the currency manipulation that deflates currency to increase export.........................

Doesn't matter...............continuing to print paper on top of paper on top of paper will eventually have consequences.................

Govt's should want the people to have a strong currency..............not deflate it...............how does that help the people.

Our gov't should pay out what it brings in..............Fiscal responsibility..........

If it doesn't matter then why not just grad 18 Trillion and flood the united states with money and rebuild the entire infrastructure.................Hell just give every American money..................that's not gonna happen.............the reason we are not Greece is because we hold the reserve currency of the world..................and gives us the power to borrow well beyond our REAL economic means.

Red:
I was hoping that after reading them you'd elevate the quality (maturity and rigor) of your remarks wherefter I'd actively engage you in a discussion on the topic.

 

[jwoodie]

Name calling and reflexive opposition are the refuge of the weak minded. It is one thing to repeat the words of others. It is quite another to analyze them and develop a deeper understanding of the subject matter which can then be put into one's own words.

 

[blackhawk]

Neither party gives a dam about the national debt or will ever do anything about it as the last 100 plus years and 19 plus trillion dollars have proven. So just kick back and enjoy life till the house of cards comes tumbling down.