US vs. European Economy

[Politico]

The problem with the EU is not because they share one currency. And they can't really be compared with the US.

 

[EdwardBaiamonte]

cuz about 2/3rds the people here are Ron Paul whackjobs.

of course if true rather than merely alluding to it you would not be afraid to point out your best example of being a "whackjob"?? What does your fear tell you?

My fear tells me that I can hardly imagine where to begin. The Ron Paul Whackjobs have developed a Tolkienesque world of good vs evil where Barack Obama is the giant disembodied eye and they are n'er more than a band of humble hobbits following Ron Paul to retrieve the gold standard ring from the pits of Mordor (or however the eff it went, I don't know)....

They infest every thread with an out-of-touch otherwoldliness that puts me very much on the side of those I might otherwise be opposed to. We're all bound together by this thing called reality and the Ron Paul Whackjobs want none of that.

I tell you, Ron Paul Whackjobs. You will never, ever, ever, ever get anything you want, ever. You're just too far out in left field. Your own Republican party pays no attention to you.

1) too stupid by 1000%!!! not an ounce of economics there!!

2) To say that the Republican Party is not paying attention to the Tea Party/Libertarian wing is 2000% stupid!!

 

[EdwardBaiamonte]

...hope he gets it, and not a liberal brainwashing. I just hope he realizes he must attend college first to get some of the basics down.

That's his business, and whether any of us is smart has no affect on the whether the fed can pay off the public debt by simply creating dollars. It can't because that's not the Fed's mission.

Section 13 (3) lets them do anything they want!!!

 

[EdwardBaiamonte]

Third, there is no monetization happening there. The purchases are occurring in the secondary market. Government debt can not be serviced by the Fed without obliging the Fed to do so by modifying the Federal Reserve Act. Even if you want to engage in semantics and count the seigniorage the Fed earns and remits to the Treasury as "monetization", that's a negligible proportion of total government debt. The bottom line is, the trillions of government debt can't be payed off by printing money unless the FRA is modified.

dear, it was modified in the recent crisis so the Fed can do whatever it wants!! If the Fed ends up holding the Treasuries they are in effect monetizing the debt!!!Oh, and did I mention Bernanke agrees???

This historic moment happens from second 31 to second 45 and took place on April 14.

Here's the transcript of the most important part:

Ron Paul: "Well, where did you get the money? You created this money."

Bernanke nods in agreement.

Ron Paul: "So you did monetize debt, and that went into the banking system."

Bernanke nods in agreement.

Reprinted from Benzinga.com.

don't get discouraged I know when you get to college you plan to study economics. It will do you a world of good. You'll be surprised at how fast you get up to speed!!

 

[EdwardBaiamonte]

The problem with the EU is not because they share one currency. And they can't really be compared with the US.

the EU and US have deep economic problems. The EU can come out way ahead of us though. You can see from the rioting in the streets that they are under tremendous pressure to get their liberal leeches under control, i.e., to live within their means.

THe US may not face the same pressure since our Federal Reserve can simply print money to paper over our problems and thereby let them get worse and worse.


If Europe does come out ahead because they are using capitalist austerity in this crisis our freakin liberals will take it as a sign that European socialism in general is best and American capitalism will be doomed.

 

[Rshermr]

with his infuriating idiocy.

why be so afraid to give your best example of "idiocy" for the whole world to see!!! What better way is there to drive your point home so everyone believes you? When you get to college you'll learn that, I presume, and not need to be reminded over and over.

AHA, ed. There you go. This post clarifies everything being said about you. THANK YOU.

 

[EdwardBaiamonte]

with his infuriating idiocy.

why be so afraid to give your best example of "idiocy" for the whole world to see!!!
What better way is there to drive your point home so everyone believes you? When you get to college you'll learn that, I presume, and not need to be reminded over and over.

AHA, ed. There you go. This post clarifies everything being said about you. THANK YOU.

why be so afraid to give your best example of "idiocy" for the whole world to see!!! What does your fear tell us about your IQ and character