US national debt

UpstateNYUPSer(Ret)

Well-Known Member
Just what have you been searching on the net? Politicians in thongs? ewwwww

I guess it depends upon whom the politician is:


225px-SenatorGillibrandpic.jpg
 

wkmac

Well-Known Member
Just reading where international investor Jim Rodgers is predicting another round of quantitative easing from the fed as early as Q3 of this year. I highly respect Rodgers but in this one it's not hard to see coming with the probability that Washington will raise the debt limit. Why raise it if you aren't going to use it?

What is said of us as normal citizens for example if we begin a cycle of paying debt with a credit card? What ultimately happens if some make their car and mortgage payments month after month with a credit card and then only pay the minimum payment or even worse only pay the interest? What happens when you've used the card so much you are at the credit limit and still need more? What happens when the card company will no longer increase your card limit?

I'd not call this a textbook definition for quantitative easing but in a general sense it does work.

The term quantitative easing (QE) describes a form of monetary policy used by central banks to increase the supply of money in an economy when the bank interest rate, discount rate and/or interbank interest rate are either at, or close to, zero.

A central bank does this by first crediting its own account with money it has created ex nihilo ("out of nothing").[SUP][1][/SUP] It then purchases financial assets, including government bonds and corporate bonds, from banks and other financial institutions in a process referred to as open market operations. The purchases, by way of account deposits, give banks the excess reserves required for them to create new money by the process of deposit multiplication from increased lending in the fractional reserve banking system. The increase in the money supply thus stimulates the economy. Risks include the policy being more effective than intended, spurring hyperinflation, or the risk of not being effective enough, if banks opt simply to pocket the additional cash in order to increase their capital reserves in a climate of increasing defaults in their present loan portfolio.[SUP][1][/SUP]

OK, so the central bank creates money for it's account "out of nothing" and then from that creates a cycle which thus creates the debt in the hopes it's stimulates the economy. Well from this article and if one would read the Federal Reserve's Modern Money Mechanics, it's clear that monetary debt related to the Federal Reserve note, we call it a dollar, is in truth nothing so in repudiating that debt all we would be doing is returning "the nothing" back to it's natural state of nothingness!

And while I'm at it, last week I gave you absolutely nothing, now what you did with the nothing and who you got to accept the nothing, that's another story but in the meantime, I expect you to labor at ever increasing rates and from your labor I will expect payment for loaning you my nothing so you can give my nothing to others in exchange for their something which they also bought with my nothing! And the beauty for me is they also owe me for nothing as well because at the end of the day, the absolutely only thing of real value in all this transaction is you and the labor you produce. I just use a fiction to exploit your labor so I can benefit, I then inflate the nothing with more nothing, getting something at it's lowest value before inflation kicks in and then later I sell this surplus back to you at it's highest cost. This pulls the nothing out from you forcing you to more labor and also borrowing more of the nothing to keep the whole cycle going. This is one reason why I and my partners seem to be accumulating all the nothing and you seem to have less and less nothing. All I have to do is to keep you thinking that nothing is really something and it's game over for you!

:peaceful:
 

moreluck

golden ticket member
National debt under Obama increases $4.1 Billion a day

Under Bush it increased $1.6 Billion a day.

this new guy is a regular shop-a-holic!!
 

wkmac

Well-Known Member
How much of the $4.1B is interest on the $1.6B?

The rationalization More uses is typical and I kinda see it like this.

Joe is known to sneak around on his wife with 4 ladies a day (vitamins :happy-very:) but Charlie only sneaks around on his wife with 1 lady a day therefore Charlie is the better husband!
 

moreluck

golden ticket member
It all depends who has the hall pass, Joe or Charlie.

All I know is one guy spends way more per month than the other guy!!
 

brett636

Well-Known Member
Ah. But when Bush started we were looking at surpluses.

Negative on the surplus. It was projected to exist, but in fact never did. Its that fuzzy government math your falling for just like most libs. Just remember that the surplus was just as much as a myth as Zeus was.
 

menotyou

bella amicizia
Are you having a thong moment too?
I considered wearing a thong for about a moment. I admit it would accentuate my already gorgeous behind, but then I saw our OMS' thong peeking out as she bent over for something. Yuck! It looked like she was flossing her! My thoughts went downhill from there. Forever ruined any chances of seeing my beautiful butt in one of them!
 
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