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Very Hot Topic (More than 25 Replies) Deficit Spending, Debt & Printing (Read 553 times)
Jeff
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Re: Deficit Spending, Debt & Printing
Reply #10 - Aug 20th, 2019 at 6:11am
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yamcha wrote on Aug 19th, 2019 at 8:21pm:
The government needs to sell off all the land that it owns besides the facilities that it functions on.
Agreed, but right now the only people who can afford to buy it are crony oligarchs and elites.
  

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SkyChief
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Congressional Budget Office Reports $1 Trillion Deficit for 2019
Reply #11 - Oct 8th, 2019 at 2:10pm
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Congressional Budget Office reported a $1 Trillion deficit for 2019 - the second highest deficit in US history.

(Obummer had the highest deficit in 2009 with a $1.4 Trillion deficit)

Treasury Department:

"What - Me worry?"   Grin    Grin    Grin



https://www.marketwatch.com/story/us-ran-deficit-just-under-1-trillion-in-2019-c...
  
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Jeff
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Re: Congressional Budget Office Reports $1 Trillion Deficit for 2019
Reply #12 - Oct 8th, 2019 at 4:34pm
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SkyChief wrote on Oct 8th, 2019 at 2:10pm:
Congressional Budget Office reported a $1 Trillion deficit for 2019 - the second highest deficit in US history.

(Obummer had the highest deficit in 2009 with a $1.4 Trillion deficit)

Treasury Department:

"What - Me worry?"   Grin    Grin    Grin

https://afterthewhistle.files.wordpress.com/2010/09/alfred-e-neuman.jpg

https://www.marketwatch.com/story/us-ran-deficit-just-under-1-trillion-in-2019-c...
Don't worry, there is a plan.

Just be cool until someone makes you do something... That could be the best bet for survival.

Who knows?
  

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Jeff
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Re: Deficit Spending, Debt & Printing
Reply #13 - Oct 8th, 2019 at 4:58pm
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Being more serious, the choice is between limited government or unlimited government.

This should appeal to you jerkwad, liking absolutes as you do...

Which do you choose? Answer honestly. Don't divert.

We don't need yet another change of topics... Cheesy
  

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The Opposition
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Re: Deficit Spending, Debt & Printing
Reply #14 - Oct 8th, 2019 at 9:20pm
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Jeff wrote on Oct 8th, 2019 at 4:58pm:
Which do you choose? Answer honestly. Don't divert.

We don't need yet another change of topics... Cheesy


[insert Jeff's answer]

...Which I imagine is limited government.

I don't know how you propose to limit it, but whichever choice is right, I'll pick that one.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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The Opposition
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What if *ONLY* the Fed is Counterfeiting?
Reply #15 - Oct 8th, 2019 at 9:25pm
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A piece of fiat currency is worthless, but a piece of currency that's been sweat and bled for is scarce by definition.

It is only by mixing the fiat dollars in with the circulating dollars that the fiat dollars gain value.

The rub is that the fiat dollars must be deliberately made indistinguishable from - hidden among - the dollars that have been worked for, because if they were not, no one would take one that had not been. At least, I know I wouldn't.

Counterfeiting?

Well, kinda.
  

This moral relativism of yours is exactly what lets government take this freedom, then that freedom, until we have lost them all.
-SnarkySack
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Jeff
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Re: What if *ONLY* the Fed is Counterfeiting?
Reply #16 - Oct 9th, 2019 at 6:56am
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The Opposition wrote on Oct 8th, 2019 at 9:25pm:
A piece of fiat currency is worthless, but a piece of currency that's been sweat and bled for is scarce by definition.

It is only by mixing the fiat dollars in with the circulating dollars that the fiat dollars gain value.

The rub is that the fiat dollars must be deliberately made indistinguishable from - hidden among - the dollars that have been worked for, because if they were not, no one would take one that had not been. At least, I know I wouldn't.

Counterfeiting?

Well, kinda.
Take a vacation, please. Spend some time on your home planet, where maybe some Vulcan rationality will rub off on you. Smiley
  

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Industry
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Re: Deficit Spending, Debt & Printing
Reply #17 - Oct 9th, 2019 at 3:12pm
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This is what libertarians do can't find one thing wrong with it so nasty insults.
  
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Jeff
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Re: Deficit Spending, Debt & Printing
Reply #18 - Oct 9th, 2019 at 3:40pm
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Industry wrote on Oct 9th, 2019 at 3:12pm:
This is what libertarians do can't find one thing wrong with it so nasty insults.
It's all wrong, and your genius buddy knows it.

If you, being a confessed dolt, can't figure out why it's wrong, just ask and I'll explain it to you, point by point. Smiley
  

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SkyChief
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Deficit Spending, Debt & Printing
Reply #19 - Oct 20th, 2019 at 4:01pm
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The Opposition wrote on Oct 8th, 2019 at 9:25pm:
A piece of fiat currency is worthless, but a piece of currency that's been sweat and bled for is scarce by definition.

It is only by mixing the fiat dollars in with the circulating dollars that the fiat dollars gain value.
This is Gresham's Law.  When you have both real money and fiat money in circulation at the same time, people will hold on to the real money, and instead use the fiat money to pay for goods and services.

More simply stated:   "bad money drives out good".

Runaway federal spending is now driving monetary policy - a classic recipe for disaster.

The Fed is now printing money to monetize massive federal deficits caused by unchecked spending.

Injecting all this "helicopter money" causes inflation, which in turn diminishes the purchasing power of the dollars we now have in our wallets and banks.

This is a precursor to hyperinflation.  When hyperinflation happens, economies collapse.

It's a real high-wire act the Fed is doing.   Jeez, I sure wish they had a safety net below them.   Only they don't.   Undecided
  
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