U.S. debt load falling at fastest pace since 1950s

Discussion in 'Economy' started by Moonglow, Jun 8, 2012.

  1. Moonglow
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    Moonglow Diamond Member

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    well mine sure has declined




    WASHINGTON (MarketWatch) — Everyone knows America has too much debt. What they don’t know is that things are getting better, not worse.

    Little by little, our economy is reducing its debt burden, slowly repairing the damage caused by 10, 20 or 30 years of excess.

    If you want to know why economic growth has been so tepid, here’s your answer. Four years after the storm hit, the economy is still deleveraging. And it’s very hard for any economy to grow when everyone is focused on increasing their savings.

    Total domestic — public and private — debt as a share of the economy has declined for 12 quarters in a row after surging over the previous decade.

    U.S. debt load falling at fastest pace since 1950s - Yahoo! Finance

    By Rex Nutting |
     
  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    That's the same guy that said Obama hasn't spend any money

    I guess this year's $1.3Trillion deficit is just an illusion, right?

    Ah OK just read it. Private debt vs public debt and private debt is down mostly because homes are underwater.

    The main difference between public and private is that private debt does not have a the power to tax.

    Is this guy Obama financial guru?
     
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    Last edited: Jun 8, 2012
  3. Zoom-boing
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    Zoom-boing Gold Member

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    We don't owe anyone anything. Sweet.
     
  4. CrusaderFrank
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    CrusaderFrank Diamond Member

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    So US housing residential housing in a deflationary depression is a good thing for Obama -- who knew?
     
  5. Toro
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    Toro Diamond Member

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    Private sector debt has declined substantially over the past five years. It has been replaced by a whole lot of public debt. If we start slashing public debt, we will have deleveraging and deflation unless we start growing significantly.
     
  6. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Maybe the public debt is crowding out public debt, that's what Libs said about Reagan's debt
     
  7. Truthmatters
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    Truthmatters BANNED

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    which is why we need more stimulus.


    when we do fully recover we will be cranking.


    Then the tax base will be flowing money in.

    tax the fucking rich its their turn to be patriotic for a change
     
  8. Rat in the Hat
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    Rat in the Hat Gold Member

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    You still don't see the contradiction, do you? :cuckoo: :cuckoo:
     
  9. Stephanie
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    Stephanie Diamond Member Supporting Member

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    sell one of your two homes and donate it the government..then we'll consider ALLOWING them to tax the fucking rich..
     
  10. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Rex Nutting is this generations Paul Krugman

    and I'm not kidding
     

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