We're not fighting some massive war or "space war against martians" ( Thank You Krugman, you goofy bastid for that ) , or putting a man on mars or building some mega dam or even making investments for the future that would be worthy of new debt. It's BAD debt and contrary to the libtards that like to state that we are going through a "recovery" the truth is we are struggling and sinking further down the rabbit hole.
We're taking the extra capital that usually is used as a way to finance a assertive foreign policy in a time of global conflict but now it's what's it's use ?
Funny those government programs "created by the recession" were caused by government programs that "created the recession". Obama and is ilk have not made any notable efforts to rectify our economic failure. And no spending and taxing, nor Keynesian attempts have not made any positive impact or caused a "recovery". Keynesian in a global economy.......lol. Any stimulus just winds up being shipped out to one of largest debt holders because we've become a tertiary economy and we buy lots-o-Chinese junk.
" If no one among us is capable of governing himself, then who among us has the capacity to govern someone else ? "
What is not obvious that you were not being facetious towards me, which is nonsensical given my comments. What seemed to me far more obvious is that your brain is stuck deep in a false dichotomy.What ? There are some here that argue that the debt isn't an issue or that it's being blown way out of proportion for political reasons.I was being facetious…obviously.
Who is this “we”, Kimosabe? Oh sure these are dangerous times with idiots suggesting that it is a good idea to default on honouring Treasury instruments for “for a day or two or three or four” getting scarily close to the controls of power. But, although he still has a seat in Congress, he failed in his VP bid a couple months back and hopefully will get no closer anytime soon. Boehner even effectively moved him further out of influence by acknowledging he really is not in a position to negotiate, since he cannot delivery the goods on deals.But we ignore other risk, like sell off’s or waiting for our credit rating to be devalued forcing higher yields on short term bonds.
See, there actually needs to be a reason for the sell-off. So we stay calm and methodically wind thing down, because panic leads to dumb decisions. So how about instead of panic later we do the smart thing and just don’t panic at all? Steady hand.
I would hope so. I do feel reasonably comfortable that in the end here are enough sane people left on the GOP side of the House to set aside party unity in favor of the country’s interests. But there is definitely a non-zero number bent on stopping it and being quite vocal about it, in a manner convincing enough that [semi-]serious discussions about $1T coins are being had. *shrug*I doubt they’re going to refuse to raise the debt ceiling…
Well I certainly have more faith in them than the [most likely to be elected] alternatives presented in 2008 and 2012.You seem to have far more faith and trust in our current administration…
Am I care-free? No, dangerous times and even if I thought the WH infallible this business of government is a group operation larger than just the Executive Branch, and their are definitely gremlins in the works. I mentioned one particular raven haired one in Congress, above, for example.
But the text you quoted does not have much to do with my particular level confidence, or lack of confidence, in the current WH. It has to do with what the likely environment is that would drive said interest rates [assuming asshats don’t manage to burn our government to the ground in the supposed name of saving us from debt].
Last edited by Dwight; 01-07-13 at 10:39 PM.
List of countries by public debt - Wikipedia, the free encyclopedia
You can see that Canada's debt under a Conservative government is moving down while US debt, under BHO and his czars, continues to grow. You'll note also that the US is getting up there with Portugal, Ireland and Greece. Did you vote for this?
As to public expenditures, if Canada is spending the money it is raising from taxes then it is preferable to borrowing it and getting trillions of dollars in debt. However if your point is that Canada is also over-governed, I would agree. There should be less in both countries.
right before the dollar ceased to be the global reserve currency, and instead became choice fuel for woodstoves, that is.
1) Conservative party overall in Canada is roughly on par with the right side of the Democratic party in the US, with some caveats.
2) A lot of the budget hard work was done a decade back in Canada, led by a fellow named Paul Martin. First as Finance Minister and then as Prime Minister, starting back in the mid-90’s. (( http://blogs.usask.ca/the_bolt/image...ebt_vs_gdp.gif , Canada General government gross debt in percent of GDP )) The Conservative government did not get into power till some time in 2006 and even then was a minority government (meaning they had a lot less sway) for a number of years after that.
3) Notice in the chart above the large leap in debt vs GDP in 2008? And, in no small part because Canada regulation thwarted a lot of the housing bubble that struck the US, the 2008 recession has been much kinder on Canada’s economy and its government budget, those effects multiplying to make the debt vs GDP hit smaller and shorter.
4) The US’s debt vs GDP has largely stabilized, returning to somewhere around the pre-recession rates of rising.
See, that is the key here. Canada’s debt vs GDP was falling pre-recession and had been for about 12 years. Pre-recession in the US, for about 8 years, it had been rising. And the GOP still has not managed to shake from them the attitude and philosophies and policies that made it that way. Complete. Total. Denial.
If you voted Republican for POLTUS in 2000, 2004, 2008, or [yes, even] 2012 you did. If you did not realize that, you did a very poor job of reading the [not so] fine print.You’ll note also that the US is getting up there with Portugal, Ireland and Greece. Did you vote for this?
You would think but try find someone billing themselves as “fiscally responsible” in Congress [publically] acknowledging that is nigh hopeless.As to public expenditures, if Canada is spending the money it is raising from taxes then it is preferable to borrowing it and getting trillions of dollars in debt.
A huge chunk of the problem is that when it comes down to the brass tacks of it very, very, very few people follow through on that. The vast majority that voice that really are talking about something else, using it as an excuse for an agenda that largely looks to and/or implies continuation and even deepening of the class hierarchy in this country [that undercuts the idea of a meritocracy].However if your point is that Canada is also over-governed, I would agree. There should be less in both countries.
Last edited by Dwight; 01-08-13 at 08:10 AM.
Small relative population and they sell A LOT of oil.
Class hierarchy is just another liberal construct used to divert and divide.
The current "hierarchy" is far better than to two class system Obama and the progressives support.
The US Treasury keeps printing and the private Corporation, the Federal Reserve Bank?, keeps buying. ) 0 % ( interest investments for a bank. Somethng smells like fish. China just closed a deal with Brazil to trade "reals" and "rinminbi" and use same for trade. Now that means Brazil's OIL will now not need dollars to go to China. Will that decrease demand for the US Dollar? Perhaps that will effect that 0 % interest. Don't you think? Would the Chinese prefer one trillion dollar US coins? For trade simplification. Even Brazil. Sounds like they prefer reals and renminbis for real money transactions. Does this lack of desirability of the US Dollar relate to interest rates, or not?