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LOL at Obama's spending. JUST LOL
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Date: February 2nd, 2012 10:15 AM Author: trip poppy famous landscape painting travel guidebook http://goo.gl/QZgav (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19881717) |
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Date: February 2nd, 2012 10:19 AM Author: Harsh Sienna Theater I wonder what Paul Krugman feels about this. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19881730) |
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Date: February 2nd, 2012 10:20 AM Author: glittery sound barrier ape We need an alien invasion to further stimulate. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19881737) |
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Date: February 2nd, 2012 10:22 AM Author: Harsh Sienna Theater Here’s the question: why do patterns of employment over time that are, in fact, normally supply-driven continue to be visible even during a demand-side slump? And here’s the answer: businesses make long-term decisions that influence hiring patterns over time, and those decisions continue to shape their behavior even when there is a surplus of labor. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19881748) |
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Date: February 2nd, 2012 10:20 AM Author: trip poppy famous landscape painting travel guidebook What do you think about government spending slim? Good / necessary evil / ? (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19881738) |
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Date: February 2nd, 2012 10:21 AM Author: Harsh Sienna Theater I am not as well versed in economics as I should be, but I tend to agree with Keynesian theory. I am definitely not a Hayekian/von Misesian/Austrian School sympathizer. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19881745) |
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Date: February 2nd, 2012 10:23 AM Author: trip poppy famous landscape painting travel guidebook Do you agree with Buffett? (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19881750) |
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Date: February 2nd, 2012 10:24 AM Author: Harsh Sienna Theater http://www.nytimes.com/2011/12/30/opinion/keynes-was-right.html (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19881756) |
Date: February 2nd, 2012 10:26 AM Author: Harsh Sienna Theater We entered 2011 amid dire warnings about a Greek-style debt crisis that would happen as soon as the Federal Reserve stopped buying bonds, or the rating agencies ended our triple-A status, or the superdupercommittee failed to reach a deal, or something. But the Fed ended its bond-purchase program in June; Standard & Poor’s downgraded America in August; the supercommittee deadlocked in November; and U.S. borrowing costs just kept falling. In fact, at this point, inflation-protected U.S. bonds pay negative interest: investors are willing to pay America to hold their money.
The bottom line is that 2011 was a year in which our political elite obsessed over short-term deficits that aren’t actually a problem and, in the process, made the real problem — a depressed economy and mass unemployment — worse.
The good news, such as it is, is that President Obama has finally gone back to fighting against premature austerity — and he seems to be winning the political battle. And one of these years we might actually end up taking Keynes’s advice, which is every bit as valid now as it was 75 years ago. |
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Date: February 2nd, 2012 11:08 AM Author: trip poppy famous landscape painting travel guidebook The bit about Obama is rather conclusory. Not a very cogent argument for his economic prowess or fiscal discipline. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19881904) |
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Date: February 2nd, 2012 6:22 PM Author: Mewling therapy The constant annual deficits are a guarantee of disaster because the insurmountable national debt keeps increasing with every deficit. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19883686) |
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Date: February 2nd, 2012 6:27 PM Author: hideous olive rehab old irish cottage the point is that at the ridiculously low interest rates it isn't insurmountable... (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19883717) |
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Date: February 2nd, 2012 6:29 PM Author: Mewling therapy The Fed controls short term interest rates. The market will eventually take control of long term interest rates, i.e., people will stop loaning money to the U.S. at negative real rates. I don't know if it will happen tomorrow or five years from now, but, I know it will happen. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19883729) |
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Date: February 2nd, 2012 6:33 PM Author: hideous olive rehab old irish cottage the thing is it probably won't happen...and surely not tomorrow or in 5 years. if things get that bad the government will cut spending drastically....but right now, drastic cuts in spending would destroy the economy...which is bad. We have seen austerity in Europe. It is ugly. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19883766) |
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Date: February 2nd, 2012 2:40 PM Author: Abnormal casino (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19882659) |
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Date: February 2nd, 2012 2:55 PM Author: autistic parlor twinkling uncleanness This is fucking ridiculous. I love how taking on more debt has lost all meaning to the gov't. It's not like we're mad that Obama is SPENDING $310 billion in two months, but that we are INCREASING the debt by $310 billion. There is zero effort to cut the debt. It's insane... (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19882727) |
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Date: February 2nd, 2012 6:20 PM Author: Mewling therapy Federal tax revenue is about $2 trillion per year. In a few years the national debt will be $20 trillion.
If interest rates rise to 5% (less than a Stafford loan or Italian/Greek/Portuguese bonds) half of all tax revenue will be consumed just by the need to pay interest on the national debt. If interest rates go to 10%, interest payments will consume all tax revenues.
This country is bankrupt. The only options for the government are hyperinflation, default, or confiscation of retirement accounts. |
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Date: February 2nd, 2012 6:29 PM Author: hideous olive rehab old irish cottage if interest rates rise to 5% the government will get their finances in order real quick....but that isn't the case right now.
And countries can not go bankrupt |
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Date: February 2nd, 2012 6:32 PM Author: Mewling therapy From any accounting point of view, the U.S. is bankrupt. I realize that the U.S. is not going to file Chapter 7.
This country is unable to get its finances in order. Our politicians are unwilling to make any tough decisions. Instead, there will be a crisis and lots of people will get hurt financially. |
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Date: February 2nd, 2012 6:35 PM Author: hideous olive rehab old irish cottage I agree that we can't get our budget balanced....but I also don't think it is dire unless we can't do it in the next 10 years, not today....today isn't the day of reckoning.
Servicing our current debt, as a % of GDP today is surely cheaper than it has been at many times during the last 40 years. Not a huge deal as of right now. |
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Date: February 2nd, 2012 6:40 PM Author: Mewling therapy Dood, we're approaching the point that we can't pay the interest on the national debt if interest rates rise to historically average levels.
This analysis doesn't even include the net present value obligation of Social Security, Medicare, Medicaid, and other entitlements. Those are huge off balance sheet items. Enron style accounting is hiding them, but, they will consume future tax revenues.
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Date: February 2nd, 2012 6:49 PM Author: hideous olive rehab old irish cottage http://www.usgovernmentdebt.us/spending_chart_1900_2015USp_13s1li011lcn_90s90l90f
Assume interest rates aren't going up to "historically average levels" for many years, which no one expects them to do.
BTW, I am not saying we aren't potentially f'd....just that the point of no return isn't for another 5-10 years at least. |
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Date: February 2nd, 2012 6:57 PM Author: Mewling therapy Wishful thinking, dooder. I doubt we have anywhere near that long. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19883943) |
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Date: February 2nd, 2012 7:03 PM Author: hideous olive rehab old irish cottage well, everything you talk about is contingent on a stratospheric short term increase in interest rates....and, especially with unemployment as is and the US still having a reasonable debt level as a % of its GDP compared to the rest of the world, I don't think that is going to happen. (http://www.autoadmit.com/thread.php?thread_id=1863540&forum_id=2#19883980) |
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Date: February 2nd, 2012 6:30 PM Author: autistic parlor twinkling uncleanness I hear you brother. It scares me...
The day of reckoning is coming |