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Deficit spending has NEVER, EVER harmed our economy.
I will say once again...
I have no doubt the Democrats at some point will demand the nationalization of our private
retirement accounts....
There is way too much money that these bastards don't control.
Most folks nearing retirement have to have nearly $200k in IRA's,401 k plans or a combination of the both....
Democrats see the private sector taking a distribution of thousands during the year leaving the rest in
the account...
Dems have to be getting hard ons over the fact that there's a whole lot of money just sitting around waiting for them.
What are the consequences of a US default?
No one really knows exactly what would happen, but the likelihood is that markets around the world would plunge and global interest rates would rise.
This is because if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.
This would prompt interest rates around the world, which are often tied to those of US Treasuries, to spike.
Furthermore, the impact on the US's creditors could be dire. Japan, for instance, owns about $1.14 trillion of US debt - which is equivalent to 20% of its annual economic output.
In the US, Goldman Sachs estimates that $175bn would immediately be withdrawn from the US economy and it could lead to a very deep recession.
BBC News - What happens in a US debt default
How does a nation that prints it's own money, default? lol
No, The United States Will Not Go Into A Debt Crisis, Not Now, Not Ever
The reason why it’s not true is because we live in a fiat currency system, where the United States government can create an infinite number of dollars at no cost to meet its obligations. A Treasury bill is a promise that the government will give you US dollars–something that the United States government can produce infinitely and at no cost.
That’s the reason why interest rates on United States debt have only gone down even as the debt has ballooned. That’s the reason why Great Britain has very low rates on its debt despite having very high debt-to-GDP. That’s the reason why Japan has an astounding debt-to-GDP ratio and still enjoys some of the lowest rates ever. Investors have bet for so long that there would be a run on Japanese debt and have ended up so ruined that in financial circles that trade is called “the Widowmaker”
No The United States Will Not Go Into A Debt Crisis Not Now Not Ever - Forbes
Hmm. How does a nation that prints its own money default? Maybe you could ask Russia, Germany, Argentina and Zimbabwe?
I am fairly certain no one was printing their money for them either.
Mark
I will say once again...
I have no doubt the Democrats at some point will demand the nationalization of our private
retirement accounts....
There is way too much money that these bastards don't control.
Most folks nearing retirement have to have nearly $200k in IRA's,401 k plans or a combination of the both....
Democrats see the private sector taking a distribution of thousands during the year leaving the rest in
the account...
Dems have to be getting hard ons over the fact that there's a whole lot of money just sitting around waiting for them.
You mean with voodoo economics like cutting taxes and expecting more revenues? lol
dear, the more you cut govt the more the private sector can grow( becuase you're not sucking money out of it) and the bigger the tax base is.
Do you understand?
Obama has twice now threatened us seniors with starvation and destitution by withholding their Social Security checks unless he got his way on the budget
What are the consequences of a US default?
No one really knows exactly what would happen, but the likelihood is that markets around the world would plunge and global interest rates would rise.
This is because if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.
This would prompt interest rates around the world, which are often tied to those of US Treasuries, to spike.
Furthermore, the impact on the US's creditors could be dire. Japan, for instance, owns about $1.14 trillion of US debt - which is equivalent to 20% of its annual economic output.
In the US, Goldman Sachs estimates that $175bn would immediately be withdrawn from the US economy and it could lead to a very deep recession.
BBC News - What happens in a US debt default
I just got this on Drudge....
Paying Down The Debt Is Now Almost Mathematically Impossible Zero Hedge
The US paid off its debt just once in our history and that under a Democratic president. Anyone want to guess the result of that payoff?
It would be highly unlikely that the U.S. would default in the sense that we'd declare bankruptcy. Our currency, even though it's not backed by anything other than the words "United States of America", is the world benchmark by which other currencies are indexed and valued. Also, technically, we're already in default and bankrupt. Some economists have stated that our actual debt obligations exceed $200Trillion. That figure is difficult to comprehend, but close to accurate. There's no way we could pay down a debt of that size. It's estimated that it'll take many decades to pay down the government generated and publicized $18Trillion presently on the books. Also, another reason given that would keep us from going into a debt default, is our military power and the ones that heavily depend on it around the world. We would either experience debt forgiveness, or financial assistance from our many allies. Considering our economic outlook, and our ease and habit of borrowing, we haven't seen the astronomical limits of our debt yet. Also, we have one of the world's largest consumer bases. With over 300 million population, world economies depend on us to consume their goods. this would further guarantee loans from outside. If we fall, the domino effect will kick in, and world economic chaos would follow. Yes, at some point in the distant future, it is possible that we'll no longer be the world's benchmark and economic center. We may not even be the world military super power. The world is dependent on us just as much as we're dependent on the rest of the world. The global economy has intertwined almost every nation on Earth. We're all co-dependent. In my opinion, too many "IF's" would have to happen before we actually defaulted, or considered by other nation to be in default. Yes, it's possible, but highly unlikely in the near future, especially considering the world dependency and status of being "The Benchmark".What are the consequences of a US default?
No one really knows exactly what would happen, but the likelihood is that markets around the world would plunge and global interest rates would rise.
This is because if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.
This would prompt interest rates around the world, which are often tied to those of US Treasuries, to spike.
Furthermore, the impact on the US's creditors could be dire. Japan, for instance, owns about $1.14 trillion of US debt - which is equivalent to 20% of its annual economic output.
In the US, Goldman Sachs estimates that $175bn would immediately be withdrawn from the US economy and it could lead to a very deep recession.
BBC News - What happens in a US debt default
Obama has twice now threatened us seniors with starvation and destitution by withholding their Social Security checks unless he got his way on the budget
Oh you mean that thing conservatives fought since day one and brought to US by the Dems???
It would be highly unlikely that the U.S. would default in the sense that we'd declare bankruptcy. Our currency, even though it's not backed by anything other than the words "United States of America", is the world benchmark by which other currencies are indexed and valued. Also, technically, we're already in default and bankrupt. Some economists have stated that our actual debt obligations exceed $200Trillion. That figure is difficult to comprehend, but close to accurate. There's no way we could pay down a debt of that size. It's estimated that it'll take many decades to pay down the government generated and publicized $18Trillion presently on the books. Also, another reason given that would keep us from going into a debt default, is our military power and the ones that heavily depend on it around the world. We would either experience debt forgiveness, or financial assistance from our many allies. Considering our economic outlook, and our ease and habit of borrowing, we haven't seen the astronomical limits of our debt yet. Also, we have one of the world's largest consumer bases. With over 300 million population, world economies depend on us to consume their goods. this would further guarantee loans from outside. If we fall, the domino effect will kick in, and world economic chaos would follow. Yes, at some point in the distant future, it is possible that we'll no longer be the world's benchmark and economic center. We may not even be the world military super power. The world is dependent on us just as much as we're dependent on the rest of the world. The global economy has intertwined almost every nation on Earth. We're all co-dependent. In my opinion, too many "IF's" would have to happen before we actually defaulted, or considered by other nation to be in default. Yes, it's possible, but highly unlikely in the near future, especially considering the world dependency and status of being "The Benchmark".What are the consequences of a US default?
No one really knows exactly what would happen, but the likelihood is that markets around the world would plunge and global interest rates would rise.
This is because if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.
This would prompt interest rates around the world, which are often tied to those of US Treasuries, to spike.
Furthermore, the impact on the US's creditors could be dire. Japan, for instance, owns about $1.14 trillion of US debt - which is equivalent to 20% of its annual economic output.
In the US, Goldman Sachs estimates that $175bn would immediately be withdrawn from the US economy and it could lead to a very deep recession.
BBC News - What happens in a US debt default
Don't ya just love hypocrisy ?. Ole Frank hates the government as much as anyone on here. Yet don't fuck with his Social Security. He's gonna cry like a baby if he don't get his check.
BTW, DEBT BY ITSELF ISN'T BAD
BTW, DEBT BY ITSELF ISN'T BAD
if incurred by govt it is bad since the govt wastes money incurring debt with crippling welfare entitlements.
stupid liberal lie which is why you were afraid to give best example. What does your fear teach you?True, GOP's Corp welfare is harmful to US
stupid liberal lie which is why you were afraid to give best example. What does your fear teach you?True, GOP's Corp welfare is harmful to US
stupid liberal lie which is why you were afraid to give best example. What does your fear teach you?True, GOP's Corp welfare is harmful to US
The latest example was the GOP Corp welfare was including Wall Streets 'sweet heart deal' in the CRomnibus spending bill Bubba. You know allowing them to bet with US backing on derivatives?
More:
Republicans Starve The Poor While Handing $20 Billion to Corporate Welfare Bums
Republicans Starve The Poor While Handing 20 Billion to Corporate Welfare Bums
Ten Examples of Welfare for the Rich and Corporations
Ten Examples of Welfare for the Rich and Corporations Bill Quigley
What are the consequences of a US default?
No one really knows exactly what would happen, but the likelihood is that markets around the world would plunge and global interest rates would rise.
This is because if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.
This would prompt interest rates around the world, which are often tied to those of US Treasuries, to spike.
Furthermore, the impact on the US's creditors could be dire. Japan, for instance, owns about $1.14 trillion of US debt - which is equivalent to 20% of its annual economic output.
In the US, Goldman Sachs estimates that $175bn would immediately be withdrawn from the US economy and it could lead to a very deep recession.
BBC News - What happens in a US debt default
How does a nation that prints it's own money, default? lol
No, The United States Will Not Go Into A Debt Crisis, Not Now, Not Ever
The reason why it’s not true is because we live in a fiat currency system, where the United States government can create an infinite number of dollars at no cost to meet its obligations. A Treasury bill is a promise that the government will give you US dollars–something that the United States government can produce infinitely and at no cost.
That’s the reason why interest rates on United States debt have only gone down even as the debt has ballooned. That’s the reason why Great Britain has very low rates on its debt despite having very high debt-to-GDP. That’s the reason why Japan has an astounding debt-to-GDP ratio and still enjoys some of the lowest rates ever. Investors have bet for so long that there would be a run on Japanese debt and have ended up so ruined that in financial circles that trade is called “the Widowmaker”
No The United States Will Not Go Into A Debt Crisis Not Now Not Ever - Forbes
Hmm. How does a nation that prints its own money default? Maybe you could ask Russia, Germany, Argentina and Zimbabwe?
I am fairly certain no one was printing their money for them either.
Mark
They the worlds currency? Oil tied to them? lol
NOW think what happened with them???
What are the consequences of a US default?
No one really knows exactly what would happen, but the likelihood is that markets around the world would plunge and global interest rates would rise.
This is because if the US government could not repay the money it owed bondholders, the value of the bonds would decrease. And the yield - the return the government pays to an investor - would rise. This is because it would be perceived as a less safe investment.
This would prompt interest rates around the world, which are often tied to those of US Treasuries, to spike.
Furthermore, the impact on the US's creditors could be dire. Japan, for instance, owns about $1.14 trillion of US debt - which is equivalent to 20% of its annual economic output.
In the US, Goldman Sachs estimates that $175bn would immediately be withdrawn from the US economy and it could lead to a very deep recession.
BBC News - What happens in a US debt default
How does a nation that prints it's own money, default? lol
No, The United States Will Not Go Into A Debt Crisis, Not Now, Not Ever
The reason why it’s not true is because we live in a fiat currency system, where the United States government can create an infinite number of dollars at no cost to meet its obligations. A Treasury bill is a promise that the government will give you US dollars–something that the United States government can produce infinitely and at no cost.
That’s the reason why interest rates on United States debt have only gone down even as the debt has ballooned. That’s the reason why Great Britain has very low rates on its debt despite having very high debt-to-GDP. That’s the reason why Japan has an astounding debt-to-GDP ratio and still enjoys some of the lowest rates ever. Investors have bet for so long that there would be a run on Japanese debt and have ended up so ruined that in financial circles that trade is called “the Widowmaker”
No The United States Will Not Go Into A Debt Crisis Not Now Not Ever - Forbes
Hmm. How does a nation that prints its own money default? Maybe you could ask Russia, Germany, Argentina and Zimbabwe?
I am fairly certain no one was printing their money for them either.
Mark
They the worlds currency? Oil tied to them? lol
NOW think what happened with them???
And? The ONLY thing that protects paper money is the BELIEF that the money will be honored. Once that belief is lost, nothing else matters.
Mark
