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We Did It Again – We Bailed Out Wall Street Without Even Knowing It

Wall Street banks, while taking pains not to call attention to their survival tactics, are aware of a coming storm, and out to save themselves, damn the taxpayers who bailed them out last calamity.

by Anonymousreply 10010/04/2013

Damn...

by Anonymousreply 103/08/2013

Damn, damn, damn.

by Anonymousreply 203/08/2013

Damn, damn, damn, damn, damn and double damn.

by Anonymousreply 303/08/2013

Coming storm? Haven't you people been saying the storm is coming any day now since January 20, 2009?

by Anonymousreply 403/08/2013

Coming storm is when people have finally had enough and we take back the nation's wealth for the people.

by Anonymousreply 503/08/2013

I thought Wall Street is booming again on its own?

by Anonymousreply 703/09/2013

Dear R6, you know nothing. On top of that you're clearly a creep.

Run along to some gossip thread where you'll feel more at home.

by Anonymousreply 803/09/2013

It's called a capital strike. Merely having corporations sitting on trillions in cash that they aren't investing in the US was not enough to sink the economy, so the banks are stepping up.

by Anonymousreply 903/09/2013

Take back the wealth? When did we have it?

by Anonymousreply 1003/09/2013

Wow. The people that defend the government are sick.

Without the government via the Federal Reserve pumping TRILLIONS into the TOO BIG TO JAIL/FAIL BANKS these banks they would have cost the wealthy trillions.

The middle and lower classes would have suffered, but the rich would have been devastated. Instead the middle and lower classes are being devastated while the rich get richer.

How can anyone defend a system that makes the rich richer on the backs of the poor?

You people are sick.

The link explains how they rape the 99.9% for the benefit of the top 0.1%.

by Anonymousreply 1103/11/2013

I'm shocked this thread hasn't been deleted. Anything critical of the government seems to disappear lately.

by Anonymousreply 1203/12/2013

R6 is a fucking idiot.

by Anonymousreply 1303/12/2013

No shit, R13. The people that believe the lies just because they are on CNNBCBSFOXNews are too stupid to live.

If inflation included housing, health care, energy and food it would be over 8%. If unemployment included people who can't find jobs, it would be near 20%. Government stats are bullshit.

by Anonymousreply 1403/12/2013

[quote]If inflation included housing, health care, energy and food it would be over 8%

Dear heart, there's a reason that the core inflation index doesn't include energy and food. It took me all of 30 seconds to figure out why. How long will it take you?

by Anonymousreply 1503/12/2013

Today's reminder that Libertarians Are Complete Fucking Idiots is brought to you by Oswaldo's Discount Gold Emporium. Buy gold now!!!

by Anonymousreply 1603/12/2013

Of course the banks and the plutocrats knew what was happening...

The 1% own about 50% of equities, and the top 10% own like 90%.

The Fed bailed out the banks, and saved the plutocrats. It's always the same.

Now they're blowing another bubble, which will undoubtedly lure in mom and pop investors just as its going to pop.

Same shit, another day.

by Anonymousreply 1703/12/2013

“We’re getting to that point where either one of two things are going to happen; either central banks are going to stop all this [money printing], or the market is going to force them to stop it. It looks like we may be having a juncture of both... where the Fed is getting worried... and at the same time, the market is jumping in and saying, ‘Yes, it’s insane what you’re doing, and this has to end.’ So we may have a healthy convergence of both. And if it’s not ending now, it’s going to end sometime in the next year, because this cannot go on - it’s too insane.”

When asked about the explosive riots occurring in Brazil, Jim warned to prepare for much more, in that,

“This is the first time in history where you’ve had all the central banks in the world printing money at the same time. Europe, Japan, America, and the UK, all, are frantically trying to debase their currencies…I’m afraid that in the end, we’re all going to suffer perhaps, worse then we ever have, with inflation, currency turmoil, and higher interest rates. As I say, this has never happened before, it’s never been a good policy in the long run, so I’m afraid we’re all going to suffer for the rest of this decade from this crazy, crazy money printing.”

As a final comment to investors looking to protect themselves from these impending disasters, Jim said,

“The way to protect yourself is to own real assets... because that’s the only thing which will protect you as currencies debase.”

“If you have money in the financial system and the financial system collapses,” he added, “even though you may have done nothing wrong - you may suffer because somebody else did something wrong. So you need to be very careful about where your assets are in the financial system, or have strict control over them yourself, so that you’re not going to lose them.”

by Anonymousreply 1806/29/2013

[quote]"We’re getting to that point where either one of two things are going to happen; either central banks are going to stop all this [money printing], or the market is going to force them to stop it.

And yet he's unable to supply any reason why this should necessarily be the case.

[quote]It looks like we may be having a juncture of both... where the Fed is getting worried... and at the same time, the market is jumping in and saying, 'Yes, it’s insane what you’re doing, and this has to end.'

Actually, it doesn't look anything like that at all, to anyone who actually knows what they are talking about.

[quote]So we may have a healthy convergence of both. And if it’s not ending now, it’s going to end sometime in the next year, because this cannot go on - it’s too insane."

And yet he's not able to supply a reason why it's "insane." What, specifically, is the problem?

[quote]I’m afraid that in the end, we’re all going to suffer perhaps, worse then we ever have, with inflation, currency turmoil, and higher interest rates.

So he's been claiming for years. None of these predictions has come true to date.

[quote]As I say, this has never happened before

Meanwhile, out here in the real world, it has, quite a few times.

[quote]it’s never been a good policy in the long run

Meanwhile, out here in the real world, it's worked quite well for decades.

[quote]so I’m afraid we’re all going to suffer for the rest of this decade from this crazy, crazy money printing."

And yet he can't come up with a single reason why the current policies are "crazy" nor explain how or why we are going to "suffer."

[quote]"The way to protect yourself is to own real assets... because that’s the only thing which will protect you as currencies debase."

Ah, another gold bug. That explains a lot.

[quote]"If you have money in the financial system and the financial system collapses,"

And if unicorns fly out of his butt, an equally likely occurrence....

It figures that you'd find an interview like that compelling. Google Jim Rogers predictions to find some rather eye-opening idiocies from this guy.

by Anonymousreply 1907/01/2013

R19- I love laughing at your igno-rants.

How come we never see rebuttals, just bullshit yapping?

by Anonymousreply 2007/01/2013

[quote]I love laughing at your igno-rants.

LOL.... I love laughing at your childish attacks when you can't answer my rebuttals.

[quote]How come we never see rebuttals, just bullshit yapping?

Project much, dear?

by Anonymousreply 2107/02/2013

No, r21.

You never actually show any evidence for your position, whereas my posts are full of facts.

by Anonymousreply 2207/02/2013

Of course he's a gold bug. Their economic analysis STARTS with the assumption that we are going to have a meltdown, and then makes up "theories" to justify the conclusion. The fact that they have been wrong every time doesn't shake their faith.

by Anonymousreply 2307/02/2013

R23-

Wouldn't you consider the last 5-6 years a "meltdown"?

Dollar bills are only a hedge if the dollar remains strong.

Gold and silver- well, anybody on the planet will trade for them. If the USDollar collapsed then I could still buy things with these pre-1965 quarters and dimes, while paper bills would only be good for toilet paper. The good thing is that since dollars are printed on a very fine cloth, they can be washed and re-used after you take a shit!

by Anonymousreply 2407/02/2013

[quote]You never actually show any evidence for your position

Actually, dear, I do. It's telling you that you don't know this, mostly because you never actually read and comprehend what I write, preferring instead to simply make shit up.

And, of course, you never actually show any evidence for your position, so your complaint is blatant hypocrisy, which is pretty much what we've come to expect from you.

[quote]whereas my posts are full of facts.

ROFLMAO.... Uh-huh, right. Tell us again about 50% hyperinflation, how the economy's worse now than it was in 2008, how gold is just the best investment ever, how cutting back government spending is going to fix the economy, how the dollar is going to crash, how bond rates are going to go through the roof, and how the economy is on the very of toal collapse, any day now, really, this time for sure.

Tell us again about "facts" like these:

Gold coins are cheap now. At $1700+ they are a steal. Wait until the government defaults and it will be worth 10x that. Or more.

Gold will always pace or outpace inflation, when held over long periods.

Gold is much safer than any other stock or commodity.

Until the government is no longer in control of the money supply, gold will just go higher and higher.

Gold is a hedge against major inflation. Like Weimar or Argentinian level hyperinflation.

Gold is the best performing asset in the market.

Gold will keep going higher and higher until the Federal Reserve quits inflating.

Gold is still the best asset to hold compared to S&P or DJIA.

When the dollar is worth nothing, people will still want to trade gold for food, gas, etc.

That is why gold is not in a bubble. Trust me, I know more about this than you think you do.

[I never stop laughing at that last one. Fact, dear? I repeat: you wouldn't know a fact if it bit you in the ass.]

by Anonymousreply 2507/03/2013

[quote]Wouldn't you consider the last 5-6 years a "meltdown"?

No, I'd call it a slow economic recovery after a major recession, personally. Tell us, what's the weather like in your world?

And, of course, you have been predicting the complete and total collapse of the financial systems, the default of the US government, the onset of double or triple digit inflation, the total collapse of the dollar, and so on. You don't get to move the goalposts now just because none of your predictions has come true.

[quote]Dollar bills are only a hedge if the dollar remains strong.

Nice non sequitur, raising a point that nobody is arguing against. Got anything relevant to say?

[quote]Gold and silver- well, anybody on the planet will trade for them.

Not in the economic Armageddon you've been predicting. They would be just as worthless as dollars, with barter the only viable economic medium. Gold and silver possess no more real and substantial value to most people than do dollars, a basic economic fact you have never managed to grasp. You can't eat them; you can't make things with them.

[quote]If the USDollar collapsed

And if pink unicorns flew out of your butt... an equally likely occurrence....

by Anonymousreply 2607/03/2013

R19, 21, 25&26

Your deliberate and malicious attempts to change the subject, and inability to actually deal with facts, proves that you are scraping the bottom of the barrel.

You think the Federal Reserve can provide a "soft landing" when +$3T in "reserves" are just waiting for interest rates to rise (which is already happening) and UST yields are exploding?

You must be an academic, because no sane person could believe the bullshit you post.

by Anonymousreply 2707/03/2013

Anyone who can defend the Federal Reserve buying over $1TRILLION in USTs and MBS per year to keep interest rates artificially low...crazy lunatic is what comes to mind!

UST and MBS yields are going higher and higher each day, and the Federal Reserve can't do anything to stop it.

When mortgage rates top 10% and UST go above 6% the games are over.

Got Au&Ag? Got H2O? Got Pb (and something to use it) and food?

If not, I feel sorry for you.

by Anonymousreply 2807/03/2013

R26-

Here is a simple look at why the government is destroying the USA.

Imagine you have 3 credit cards. One requires payment each month at 2.5% interest, another only has to be paid each year at 5%, and one every 10 years at 10%.

You get in bind and can't pay the 2.5% monthly charge, so you use the 5% card to pay the balance. You are certain that your new raise at work will help you pay them off, and so you keep buying new clothes, eating out, buying a bigger house.

You keep doing this until you max out the 5% card, and start using the 10 year card to pay both cards. Then instead of a raise you get demoted and have a major cut in pay. Now your payments are more than your salary, so you use the 10 year card to pay off the 2 cards, praying that you will get promotions soon.

It's getting close to the time that you will have to pay the 10 year card, and you are so deep in debt, with no raise...so you start counterfeiting money to pay your bills.

by Anonymousreply 2907/07/2013

Wall Street is the epitome of fascism.

by Anonymousreply 3007/08/2013

[quote]Your deliberate and malicious attempts to change the subject

*Shrug* I'm just following your lead.

[quote]and inability to actually deal with facts

As soon as you provide some facts, I'll be happy to deal with them. So far, on this thread, you haven't provided a single one. Were you planning to?

[quote]You think the Federal Reserve can provide a "soft landing" when +$3T in "reserves" are just waiting for interest rates to rise (which is already happening) and UST yields are exploding?

Yup, because a) they've done it before, repeatedly, b) there really isn't any technical reason why they can't, and c) UST yield are not, in fact, "exploding."

[quote]You must be an academic, because no sane person could believe the bullshit you post.

ROFL.... No comment needed.

Oh, and with respect to that "analysis" you posted in R29. I know you're really, really proud of yourself but it doesn't bear any resemblance to reality and spamming it to multiple threads as you've done is the behavior that gets your threads locked or deleted.

by Anonymousreply 3107/10/2013

Government is not destroying the USA. Insistence on free trade and dollars as the world reserve currency is destroying the USA. It means there is a demand for dollars apart from demand for the goods and services produced by Americans. Which means what? It means that to satisfy this demand the US must run a current account deficit over the long term, which means the domestic economy experiences deflation, the international economy inflation, and ultimately US external debt will reach unmanageable levels. We need to execute the False God of Trade and the frauds behind it. Devalue, end the reign of the dollar as the world's reserve currency, and raise the cost of imports.

by Anonymousreply 3207/10/2013

[quote]Wall Street is the epitome of fascism.

Excuse me??

by Anonymousreply 3307/10/2013

R33-

In terms of economic control they're pikers- they didn't have total control of the money supply.

Hitlers Stasi and Lenin's KGB would kill to have the NSA.

by Anonymousreply 3407/10/2013

Sorry, I completely forgot, R34. You're clinically insane. Never mind.

by Anonymousreply 3507/10/2013

R33 thinks that fascism requires goose-stepping soldiers.

Unmanned drones are the new SS.

by Anonymousreply 3607/10/2013

No, R36, we just think that fascism requires something resembling actual fascism, not the fantasies of a paranoid loon.

by Anonymousreply 3707/10/2013

You mean like labeling dissenters as "terrorist threats" and taking the power to assassinate them with unmanned drones without benefit of charges or trial, R37?

The USA is absolutely on the road to fascism and anyone who cannot see it is blind or stupid.

by Anonymousreply 3807/10/2013

Thanks, R36/38

R37- believes that fascism is something only "They" do.

She doesn't realize that it is simply the fusion of private corporate and public government powers in order to control the masses.

by Anonymousreply 3907/10/2013

[quote]believes that fascism is something only "They" do.

Nope, I believe that "fascism" is:

"a political philosophy, movement, or regime (as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition."

[quote]She doesn't realize that it is simply the fusion of private corporate and public government powers in order to control the masses.

See, out here in the real world, words have definitions. You don't get to make up your own definitions, particularly since your definitions change from day to day and usually boil down to shit-I-disagree-with = whatever-my-word-of-the-day-is. Hell, you called a simple case of political bribery "fascism!"

by Anonymousreply 4007/11/2013

Fascism should rightly be called Corporatism, as it is the merger of corporate and government power.

Benito Mussolini

I think the co-creator of Fascism is more knowledgable than you, R40

by Anonymousreply 4107/11/2013

Mussolini also said that "Fascism is a religious concept" and, more appropriate for you, in particular, "Every anarchist is a baffled dictator."

Sorry, R41, but Mussolini doesn't get to define the term, either. And I'm afraid that history does not treat Mussolini particularly kindly, so using him as an "expert" isn't very compelling. Nice try, though. A gold star for effort.

by Anonymousreply 4207/12/2013

Government power PLUS corporate immunity TIMES banking oligarchy TO THE Nth POWER of media propaganda EQUALS fascism.

The USSA (the second S is for "Stasi") is fascist to the core.

Our government is sick and evil, and people like you that support and defend it make me sick.

by Anonymousreply 4307/16/2013

R43, posting drivel doesn't really do much to bolster your case. I repeat:

See, out here in the real world, words have definitions. You don't get to make up your own definitions, particularly since your definitions change from day to day and usually boil down to shit-I-disagree-with = whatever-my-word-of-the-day-is. Hell, you called a simple case of political bribery "fascism!"

by Anonymousreply 4407/17/2013

R44-

Bribery is simple. You pay off a councilman, congress critter, or president, and they do what you want.

Fascism is when the president, or congress critter, does what you want because they control the system.

If Obama decided to grow a set of balls and say "we are ending the wars and cutting the Defense Department and Dept of Fatherland Security budgets by 75%" that he would live out the week?

If he said "I am stopping all government subsidies to any corporations that make more than $1B a year" then it would only take 24 hours before video of him fucking a sheep was national news.

If he said "we are stopping all bank bailouts and requiring you to cap all payroll to $1M/yr for executives if you take any US Government money" it would take 1 hour before George Soros fucked him in the ass on live TV.

Do you think any of these things- cutting military spending by 75% or stopping corporate bailouts or ending the ongoing trillion dollar a year bank bailouts - can be stopped?

No?

That's because you suck government dick and say whatever they want you to say. People like you make me sick- you would rather sell out your fellow citizens than admit that your religious belief in the power of government has made you a pathetic, simpering moron.

by Anonymousreply 4507/18/2013

Bravo, R45!

by Anonymousreply 4607/18/2013

[quote]Fascism is when the president, or congress critter, does what you want because they control the system.

I repeat: See, out here in the real world, words have definitions. You don't get to make up your own definitions, particularly since your definitions change from day to day and usually boil down to shit-I-disagree-with = whatever-my-word-of-the-day-is.

[quote]That's because you suck government dick and say whatever they want you to say.

ROFL.... You never have been able to actually read and comprehend what I write, have you? Instead, you make up this silly dialog in your head that not even remotely resembles anything that goes on out here in the real world.

[quote]People like you make me sick-

Whereas I find people like you funny as hell.

[quote]you would rather sell out your fellow citizens than admit that your religious belief in the power of government has made you a pathetic, simpering moron.

LOL... "A pathetic, simpering moron" who routinely hands your ass to you in our debates. So what does that make you?

by Anonymousreply 4707/18/2013

Thank you, R46

R47 works for the government and is trying to save her job. If she wasn't so stupid and ignorant of things like "facts" or "definitions" then she would see how government is controlled by big business, and vice versa.

Belligerent ignorance of that magnitude takes 20 years of government skooling. I feel sorry for her.

by Anonymousreply 4807/19/2013

[quote]R47 works for the government and is trying to save her job.

LOL.... So you've claimed before, repeatedly.

[quote]If she wasn't so stupid and ignorant of things like "facts" or "definitions" then she would see how government is controlled by big business, and vice versa.

I do love how you put "facts" and "definitions" in quotes. Q.E.D.

[quote]Belligerent ignorance of that magnitude takes 20 years of government skooling. I feel sorry for her.

Aw, I'm so touched by your concern. Meanwhile, out here in the real world, I still find you hilarious.

by Anonymousreply 4907/19/2013

The piss yellow of 32-34-37-42-44-47-49 makes me a little sick.

No facts, just piss.

by Anonymousreply 5007/19/2013

I'm looking in vain for any "facts" you posted on this thread, R50. Pot. Kettle. Black.

by Anonymousreply 5107/19/2013

45 Well Lehmans did not get bailed out and Obama has cut military spending

by Anonymousreply 5207/20/2013

R51-

That you are too stupid to look beyond the front page of USAToday and see how the Federal Reserve is bailing out the US GOVERNMENT says more about your lack of intelligence than anything you post.

by Anonymousreply 5307/20/2013

Ahh

by Anonymousreply 5407/20/2013

[quote]That you are too stupid to look beyond the front page of USAToday and see how the Federal Reserve is bailing out the US GOVERNMENT says more about your lack of intelligence than anything you post.

Posting drunk again, are you? I know exactly what the Federal Reserve is doing, precisely what it has done dozens of times previously, and all with some success. And each time they did so, you and those like you were claiming doom and gloom and that this time, no, really, we mean it, utter catastrophe and a real meltdown would take place. And each time you were wrong.

Oh, and we're still looking in vain for any 'facts' that you've posted on this thread. All that yellow and not a single verifiable fact.

by Anonymousreply 5507/21/2013

R55-

So you think that giving the power to print money, no matter how much, is a good thing?

Do you agree that printing money (what the government calls counterefeiting) is good?

Please explain.

If printing money is bad if done by a person, why it it okay when the government does it?

by Anonymousreply 5607/21/2013

R56, you really are posting drunk, aren't you? You do realize that your questions are genuinely stupid, right? And, of course, your questions have nothing to do with, well, anything.

by Anonymousreply 5707/22/2013

The economy seems to work better than when people didn't have the right to print money.

by Anonymousreply 5807/22/2013

Personally, I love how he has arbitrarily decided that printing money and counterfeiting are the same thing.

I know what he's clumsily trying to get at: that we should be back on the gold standard with "real" money as well as getting rid of the Federal Reserve and that, by doing so, magically all of our financial problems will be solved. Unfortunately for him, history has already shown this to be just as much a fantasy as his other idiotic pronouncements.

Personally, I loved his fantasy about everyone being able to create their own currency and how this, too, would immediately solve all of our problems. The fact that such a system would be totally unworkable never seems to occur to him.

by Anonymousreply 5907/22/2013

[quote]Personally, I love how he has arbitrarily decided that printing money and counterfeiting are the same thing.

Please explain the difference.

by Anonymousreply 6007/22/2013

LOL.... Sorry, R60, but I'm not going to play your silly games. Any dictionary, any encyclopedia, any discussion of logical fallacies is sufficient to show how supremely stupid your "arguments" are. Personally, I like it because your posts are self-refuting. All I have to do is stand here, point, and laugh.

by Anonymousreply 6107/22/2013

Dear heart, has it really escaped your notice that I will not play your silly games?

by Anonymousreply 6307/22/2013

Libertarians, idiots, etc.

by Anonymousreply 6407/23/2013

urf

by Anonymousreply 6507/23/2013

[quote]Dear heart, has it really escaped your notice that I will not play your silly games?

Wow, you sure posted a lot on this thread for not "playing". One could conclude that you have a very limited life from the time you've spent on here

by Anonymousreply 6607/23/2013

[quote]Wow, you sure posted a lot on this thread for not "playing".

I said I don't play *his* games; I never said I don't play my own.

[quote]One could conclude that you have a very limited life from the time you've spent on here.

You're free to "conclude" anything you like.

by Anonymousreply 6707/23/2013

LOL.... I love it when the poor fool thinks he's got a "gotcha" question. He did this last year when he fixated on the Keynesian definition of inflation. Of course, Keynesians don't have their own definition for inflation; only Austrian economists do. Keynesians use the standard definition found in dictionaries, encyclopedias, and Econ 101 textbooks. But this moron asked that question over and over and over again, smugly certain that he had trapped me.

[quote]It's a simple question, so why can't you answer?

Oh, I can answer, moron; I just don't choose to do so. Instead, I'll refer you to the dictionary definition of "counterfeit." Come back when you've looked it up.

Let's throw it back at you, shall we? Let's say we adopt your proposal that everyone be allowed to print their own currency (a genuinely stupid idea but, hey, this is fantasy so let's run with it). You, of course, immediately run right out and print your own. Your neighbor thinks that's a terrific idea and he counterfeits yours and proceeds to use that counterfeit currency to purchase a new 65" plasma 3D television set. Got a problem with that? "It's a simple question, so why can't you answer?"

by Anonymousreply 6907/24/2013

R69

Most of us can see that the cost of food, insurance, gas, electricity, etc. has gone up despite government lies.

by Anonymousreply 7007/28/2013

I love it how R69 runs away when exposed to these facts.

by Anonymousreply 7107/29/2013

[quote]Most of us can see that the cost of food, insurance, gas, electricity, etc. has gone up despite government lies.

Moron, nobody is claiming that those items *haven't* gone up. What we are pointing out is that your ever-more-frequent predictions of "Weimar" level inflation, hyperinflation, 50%+ inflation, etc. are total bullshit.

Oh, and we can also see that this was a non sequitur unrelated to anything else in this thread, and that when your question got thrown back to you, you ducked and ran. Funny how that happens.

by Anonymousreply 7207/29/2013

R72-

Weimar inflation took decades to develop. Very few people in Germany saw the rise of Hitler as a bad omen, or the slowly rising cost of food and energy as an exponential trend. Some of them escaped, but many died due to their ignorance and arrogance.

When the US government debt goes from $6T to $16T in 6 years...any rational person would consider such a dramatic rise unsustainable.

by Anonymousreply 7307/29/2013

R72-

I would love your thoughts on this.

by Anonymousreply 7407/29/2013

Our national debt wasn't only 6 trillion 6 years ago. The reason that our national debt has gone up is the Great Recession - lower revenue, more people needing assistance. That's on Bush. There's also the tax cuts and the Bush wars.

by Anonymousreply 7507/29/2013

[quote]Weimar inflation took decades to develop.

Backing off your claims already? Your predictions were for five years out and here it is five years later and you're *still* claiming it's going to happen in the next five years! Face it, you're wrong.

[quote]Very few people in Germany saw the rise of Hitler as a bad omen, or the slowly rising cost of food and energy as an exponential trend.

There were reasons why those conditions prevailed at that time. Those reasons do not exist today which is why none of your predictions has come true. Not one.

by Anonymousreply 7607/29/2013

In 2000, debt was 5.6T

In 2008, it was 9.0T

In 2012 it was 16.0T

At this rate it will be nearly $30T by 2020 at that rate.

Learn some math.

Bush sucks almost as bad as Obama- but since they are both good Company Boys, they get a pass.

by Anonymousreply 7707/29/2013

[quote]At this rate it will be nearly $30T by 2020 at that rate.

Of course it won't be that since you're making the same stupid mistake you're making with respect to interest rates: assuming that a worst-case scenario will continue ad infinitum.

Oh, and there's this one teensy little problem that your proposed solution: government cutbacks on a massive scale, will actually make things worse, as we've seen all over the world.

by Anonymousreply 7807/29/2013

R78-

If it takes 20 years to go from $1T to $5T, and 10 years from $5T to $10T, and 5 years to go to $15+T, why would any rational person be stupid enough to believe that debt won't be $30T in ten more years?

by Anonymousreply 7907/29/2013

[quote]why would any rational person be stupid enough to believe that debt won't be $30T in ten more years?

Because any "rational person" would examine economic forecasts. And any "rational person" would immediately realize that what happens during a massive economic downturn is not what's going to happen as the economy slowly recovers. There are a variety of other factors as well, but those two will do for a start.

by Anonymousreply 8007/29/2013

But any "rational person" would also recognize that the claims that Obama is a good "Company Boy" are based on bullshit, so that disqualifies you.

by Anonymousreply 8107/29/2013

R77 - The deficit is already decreasing (and fast). The debt to GDP ratio is stabilizing and will soon decline, The sky is not falling.

by Anonymousreply 8207/29/2013

NEW YORK (CNNMoney.com) -- The United States racked up a $1.29 trillion deficit in fiscal year 2010, the federal government said Friday.

While that is historically high, it's not as high as the $1.42 trillion registered for 2009, which was the largest on record as a percentage of the economy since 1945. In real dollar terms, the 2009 gap was the largest ever.

by Anonymousreply 8307/30/2013

R82-

You realize that even shrinking at 10% a year it would take 40 years to pay off? And that at 2% a year (the rate you cite) it GROW by 4% a year?

by Anonymousreply 8407/30/2013

FY 2010? Are you using a vwaybsck machine?

FY 2013 will have a deficit well below a trillion. FY 2014 will likely have a 0.5 T deficit. That's 3 percent of GDP, which is sustainable.

by Anonymousreply 8507/30/2013

R85

Please look at reality.

If you earn $100,000 a year, and spend (using your figure of a "mere" 500B deficit, or around 4% of GDP) $104,000 a year, with 17% going to interest payment and then your income drops to $90,000 a year and your interest rates on your debt go up by 10%, or 20% or 50% (the way interest rates on USGOV debt have gone up in the last few months) then you will soon be fucked.

Please learn about economics before posting. Government schooling has made people too stupid to do simple math.

by Anonymousreply 8607/30/2013

R86 - You didn't address my previous point. The deficit is going down - largely due to increased tax rates and more people working. The deficit is getting close to being sustainable.

We ran deficits throughout most of the post WW2 era, but our debt to GDP ratio declined (till Reagan was President). Why is that?

by Anonymousreply 8707/30/2013

The sky is falling for people on food stamps. But they don't have lobbyist working for them, so no one cares.

by Anonymousreply 8807/30/2013

The actions that the libertarian idiot wants would make life for the food stamp recipients much worse.

by Anonymousreply 8907/30/2013

[quote]The United States racked up a $1.29 trillion deficit in fiscal year 2010, the federal government said Friday.

Moron, that's for 2010. Funny how you didn't want to provide the forecast for 2013. Free clue: it's almost half that.

[quote]Please look at reality.

Why? You never do.

[Drivel deleted because it doesn't address the point and because the moron still can't bring himself to acknowledge that interest rates aren't going to climb through the roof, no matter how hard he wishes.]

[quote]Please learn about economics before posting.

Why? You never have.

[quote]Government schooling has made people too stupid to do simple math.

Oh, the irony....

by Anonymousreply 9007/30/2013

The people that defend the government stealing trillions of dollars from the lower and middle classes to bail out multi-billionaire Banksters should be ashamed.

How can you sleep at night?

by Anonymousreply 9108/24/2013

[quote]The people that defend the government stealing trillions of dollars from the lower and middle classes to bail out multi-billionaire Banksters should be ashamed.

I've been looking around in vain for anyone like that. Perhaps you could point us to one of them, along with the selected quotes that demonstrate this?

[quote]How can you sleep at night?

Quite easily, actually. How about you?

by Anonymousreply 9208/25/2013

And what's hilarious is that it hasn't escaped anyone's notice that you don't have an answer for the post at R90, which basically handed your ass to you, as usual.

Sorry, moron, but the deficit is shrinking, not growing, and interest rates aren't climbing into the double-digit territory and the economy isn't collapsing, no matter how much you close your eyes and hold your breath and wish.

by Anonymousreply 9308/25/2013

Wall Street prospers, Main Street dies...thank you, Federal Reserve for healing our economy, and protecting our bankers!

/sarc

by Anonymousreply 9410/03/2013

I love R51/55/61/63/67/72/76/80/81/92&93

How clever!

She is posting to show how evil and corrupt the government and Federal Reserve really are, and the utter ignorance of the people who support those evil institutions.

Good job! I'm glad that no one with an IQ over room temperature could believe such bullshit!

by Anonymousreply 9510/03/2013

[quote]thank you, Federal Reserve for healing our economy, and protecting our bankers

Meanwhile, out here in the real world, the economy is slowly recovering. And what the Fed is doing is what it has done literally dozens of times in the past.

[quote]I love [R51]/55/61/63/67/72/76/80/81/92&93

Really? Then why haven't you been able to respond to the points raised in those posts?

[quote]She is posting to show how evil and corrupt the government and Federal Reserve really are, and the utter ignorance of the people who support those evil institutions.

ROFL.... Uh-huh. Whatever. It hasn't escaped anyone's notice that you got caught lying and that you don't have a response.

[quote]Good job! I'm glad that no one with an IQ over room temperature could believe such bullshit!

Meanwhile, out here in the real world, you're still an ignorant troll, none of whose predictions has come true. Inflation is still under control, interest rates aren't rising, the economy is slowly recovering, gold prices are still falling, austerity has failed everywhere it's been tried, and on and on.

by Anonymousreply 9610/03/2013

Remember how controversial bush's bailout in 2008 was? At least they let us know.

R90 they ALWAYS have the forecast lower than the actual number.

by Anonymousreply 9710/03/2013

I can't believe someone like R96 is so ignorant as to argue that the economy is getting better, when ANYONE can see how it is getting worse day after day after day.

by Anonymousreply 9810/03/2013

LOL.... I can't believe someone like R98 is so ignorant as to argue that the economy is getting worse, when ANYONE can see how it is getter better day after day after day.

That's what we love about you, moron; you really do believe your own propaganda and you really do completely ignore all of the data out here in the real world that contradict your faith.

by Anonymousreply 9910/04/2013

[quote]R90 they ALWAYS have the forecast lower than the actual number.

Not only is that not true, it's not relevant, since the forecast is that the deficit is decreasing pretty dramatically. Even if they get it wrong by a hundred billion or so, it doesn't negate the point that our dear libertarian troll is simply wrong about the deficit, about inflation, and about interest rates.

by Anonymousreply 10010/04/2013
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