Trump wants to run the US like a Trump business and not pay back creditors

[jem]

wow... interesting misappropriation of economic jargon to bury non sequitors.


debt is not inevitable. its a consequence of the our politicians being owned by the cronies and the cronies deciding to extract our IP, tech, jobs and wealth from america as they brought in 80 million more people to america.

We could have used the technology we created to compete better.
We could have kept jobs here.
Our dollar could have remained strong instead of allowing our FED to flood the world with trillions of dollars in excess of our Govt spending.

Viewed in isolation, the debt side of the equation clearly shows a significant increase since the 70's. At the same time, paired up with revenue, the deficit between them is normal.

That's an observable reality of modernization. Computing and globalization were a game changer. I could elaborate with analogies to the amount of light in a cave man's home before and after the invention of fire, or why computing and networking exponentially enhanced economic growth and the legitimate uses and needs for liquidity. Does it need to be explained? We all get it.

Outsourcing, an externality of enhanced market efficiency that resulted from the innovations above. Agreed, not a coincidence.

 

[Ricter]

But, now Drumpf's walking back (he must be quite fit) those statements. And admitting that debt denominated in our own currency could, say in a run on our bank type crisis, be paid by printing. Meaning, there probably will never be a real debt crisis for the US. This must annoy the hell out of the debt scolds.

What's next, that government spending "can too" create jobs!?

 

[specifically99]

I hear what I think you're trying to say, but I can't help the feeling that you have a sense of entitlement, to something that you didn't even build or create. America doesn't belong to you. Why do you think it owes you something now?

America is not yours. It's not goatshit's, or whatever his name is either. Nor is it mine.

We are lucky passengers in a concept that was born in the 18th century. All men are created equal. Come here and do your best. Government is as representative as possible and practicable. What other sort of handicap are you expecting the rest of America (the concept and reality) to hand over to you?

I'm not trying to lash out at you jem at all. But the general tone of entitlement from the complainers in society is sort of deafening and sickening. There are SO many people making the best of it both at the top and bottom of the socioeconomic scale. Then, there's a group somewhere inbetween that actually feel pissed they're not getting more than 95% of the world. It's pathetic.

I come from generations of vets and I still think America doesn't conceptually belong any more to me than someone who immigrated yesterday. That's how it works. The Trumpers are truly sickening with their expectations that the country bend to support their lack of capability.

(And as far as debt goes, debt is literally just a tool that is used to make the most of a situation where you grow faster or more reliably than the person you're borrowing from.)

wow... interesting misappropriation of economic jargon to bury non sequitors.


debt is not inevitable. its a consequence of the our politicians being owned by the cronies and the cronies deciding to extract our IP, tech, jobs and wealth from america as they brought in 80 million more people to america.

We could have used the technology we created to compete better.
We could have kept jobs here.
Our dollar could have remained strong instead of allowing our FED to flood the world with trillions of dollars in excess of our Govt spending.

 

[achilles28]

I don't even think Trump said he plans to default on the debt. He says it's a misquote. I read the NYT quote that was the apparent source for this claim, and it was totally ambiguious. CNBC and others fabricated a sensational story out of basically a question mark.

 

[jem]

I think you read it wrong. I got my grad school degree when things were easier and tuition a lot less expensive... and my undergrad was free. I got to live the dream to some degree. I think you are missing out on what is happening to the American dream for todays young people that are willing to work hard.

I have nothing to complain about personally except high taxes and the future costs of my kid's colleges. I own a business that has done well here in CA. My wife earns great money working part to full time as she wishes.

I live in an expensive part of san diego across from a golf course with a very low mortgage payment. I am still fairly young. While I wanted to be retired by now... I rebounded from losing a lot of money in real estate to being in pretty good financial shape. I personally can now just about cruise to the finish line with my wife if that is what we wish.

What I am saying is that the Cronies tied to the money creation have rigged the system to gather up all the assets and politicians through inflation and progressive taxation.
Every day more and more the freedoms you fought for are being removed from future generations.

That is the issue. The establishment is helping the cronies extract the assets and wealth out of this country. zero interest, high (real) inflation, progressive taxes, death taxes, and a federal govt doing the opposite of what the people vote for... that is what I see.

The price of the liberty we have to save for the next generation is vigilance today.

If you don't fight for it now... it will be gone faster than the cronies can rig the tax system and the Supreme Court.

I hear what I think you're trying to say, but I can't help the feeling that you have a sense of entitlement, to something that you didn't even build or create. America doesn't belong to you. Why do you think it owes you something now?

America is not yours. It's not goatshit's, or whatever his name is either. Nor is it mine.

We are lucky passengers in a concept that was born in the 18th century. All men are created equal. Come here and do your best. Government is as representative as possible and practicable. What other sort of handicap are you expecting the rest of America (the concept and reality) to hand over to you?

I'm not trying to lash out at you jem at all. But the general tone of entitlement from the complainers in society is sort of deafening and sickening. There are SO many people making the best of it both at the top and bottom of the socioeconomic scale. Then, there's a group somewhere inbetween that actually feel pissed they're not getting more than 95% of the world. It's pathetic.

I come from generations of vets and I still think America doesn't conceptually belong any more to me than someone who immigrated yesterday. That's how it works. The Trumpers are truly sickening with their expectations that the country bend to support their lack of capability.

(And as far as debt goes, debt is literally just a tool that is used to make the most of a situation where you grow faster or more reliably than the person you're borrowing from.)

 

[fhl]

Larry Summers just said that Trump would be terrible for the economy.

In other news, Larry Summers is on the board of Lending Club (LC) along with John Mack and Mary Meeker.