Coming to terms with my feelings. Long, sorry.

[BSAM]

Quote from nutmeg:

...If he used fuel he paid a road use tax included in the fuel.

I wonder if the dems or the reps first came up with this road use tax?
I'd guess the dems, but wouldn't put it past those other weasels.

 

[Tsing Tao]

Quote from Ricter:

We went through that already.

We can agree China is not the worry. But BSAM is generally correct. The moment we default (which I think is what he was going for) by not making a payment, a whole host of mousetraps get sprung. If we choose to simply print our way out of it, we'll be killed with interest rates. One way or the other, we're going to collapse.

 

[BSAM]

Quote from Ricter:

We went through that already.

You like to try to draw me into your arguments because you know I'm always right, don't you Riccie?

I'm looking in my mirror and even my mirror is telling me the same thing.
Ain't it awesome???

 

[Ricter]

Quote from BSAM:

You like to try to draw me into your arguments because you know I'm always right, don't you Riccie?

I'm looking in my mirror and even my mirror is telling me the same thing.
Ain't it awesome???

You're welcome to present an alternative breakdown of the US public debt, if there is one.

 

[BSAM]

Quote from Ricter:

You're welcome to present an alternative breakdown of the US public debt, if there is one.

Look, brother Riccie, we are 16 trillion dollars in debt.
No matter what they told you at Stanford, the democratic national convention, or in your online Washington, D.C. school of math; that debt can never be paid off.
We're sunk brother.
See you at the bottom.
Be sure to bring along plenty of air tanks.
I'll bring the ice cream.

 

[Tsing Tao]

Quote from BSAM:

Look, brother Riccie, we are 16 trillion dollars in debt.

That's just today. See you in another 4 years, haha!

Also, don't forget unfunded liabilities or federal guarantees to Freddie/Fannie, Sallie Mae forthcoming losses, interest rate rises...

LOL, it's a fucking joke. There's no way to repay it. Not, at least, in this realm of reality.

 

[Mav88]

Quote from Ricter:

That's wrong, there are Fed induced recessions to reverse inflation.

of course, and you are missing the point. 'demand shock' is always a symptom, not a cause

 

[BSAM]

I want to thank brother Tao for starting the best P&R thread on this date.
I don't know which has been more fun today, watching the market or watching this thread.
I usually don't have this much fun around here.

 

[Ricter]

Quote from BSAM:

Look, brother Riccie, we are 16 trillion dollars in debt.
No matter what they told you at Stanford, the democratic national convention, or in your online Washington, D.C. school of math; that debt can never be paid off.

Everyone knows it cannot be paid off in its entirety in any short to medium period of time. But no one expects it be entirely paid off in such a timeframe, either. Until the remaining principal comes due, at the last generation of Americans, we'll just keep rolling it over with redemptions and issuances.

 

[Arnie]

Quote from Ricter:

....we'll just keep rolling it over with redemptions and issuances.

That's great..........as long as int rates stay low. What happens when rates rise and were paying, say 70% of the budget in interest?