Page 15 of 18 FirstFirst ... 51314151617 ... LastLast
Results 141 to 150 of 178

Thread: Can Trillion Dollar Coins Save the Economy?

  1. #141
    User
    Join Date
    Jan 2013
    Location
    NY
    Last Seen
    07-12-13 @ 09:19 AM
    Gender
    Lean
    Progressive
    Posts
    53

    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Fenton View Post
    Its a pathetic liberal argument and a attempt by them of making the debt a
    nonissue after their demi-god Obama screwed the pooch economically.

    Since criticizing Obama's disasterous economic policies and instituting austerity is out of the question they first ( Blame Bush ) and then come up with some nonsensical approach to basically reset the debt but in a way where that money wont make it out into the economy.

    They fail to recognize that our debt is currently issued by way of short term bonds and any increase in bond yields of just a few points could add a trillion to Obams's current massive defecit spending.

    It could bankrupt us in an instant and a trillion dollar coin wouldn't change a thing.

    We are heading towards a deflationary period that will be far more destructive than the inflation people keep forecasting.

    There is already a massive amount of currency out there, its part of Obama's incompetence as his Fed Appointee loads up the banks with massive reserves and then pays them interest on those reserves.

    Not one Lib here has offered up any sincere opinion that deals with our current situation.

    Stack all the useless paper up you want but with out demand it's just going to sit there and earn massive amounts of interest for banks who are holding record reserves.

    And NO our lack of demand or growing pool of unemployed workers isn't due to newly invented super robots that have the manufacturing capacity of 10 men ( like automation is a new concept) or "eeebil corporations " looking to work their employees to death and earn more or "the great Bush Recession" that was actually caused by a Democrat mandated Housing Bubble.

    If a President STUPIDILY targets the private sector, the investors and the corporations with higher taxes and regulations its going to put the economy in a perpetual holding pattern.

    If a President STUPIDLY forces upon a weak economy a over reaching health care law that increases the cost of premiums and forces Bussinesses to put off investments because of unkown cost its going to stifle the engine that drives our economy.

    And the only ones who suffer are the middle class.

    And some of you clowns voted for him.....twice.

    A trillion dollar coin ? Put Obamas face on both sides. It will be a historical stamped synopsis of his failure of a legacy.
    We agree on some of what you said (rather go with areas of agreement). I'd put it this way. Trillions of dollars have been pumped into the banking system to re-open the Wall Street casino. Money is trapped in the banking system for the reason you stated (interest on reserves) plus the demand for stuff just isn't there to justify investment. What I see occurring is eflation caused by unemployment and less stuff produced with simultaneous inflation in commodity prices caused by mal-investment created by Fed policy using only the monetary system to help the economy.

    As for the trillion dollar coin, "unorthodox" methods in the face of the stupidity of not raising the debt ceiling is less disruptive.
    Last edited by Jessica22; 01-08-13 at 05:48 PM.

  2. #142
    Banned
    Join Date
    Jan 2010
    Location
    Canada, Costa Rica
    Last Seen
    05-16-16 @ 09:45 AM
    Gender
    Lean
    Independent
    Posts
    31,645

    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Jerry View Post
    So then why not make it out of dog food?
    The Dog Food Standard? Why not?

    The FDA seems to be doing a better job than Treasury.

    Pet Food

  3. #143
    Iconoclast
    DaveFagan's Avatar
    Join Date
    Mar 2011
    Location
    wny
    Last Seen
    Today @ 01:17 PM
    Lean
    Conservative
    Posts
    7,292

    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Khayembii Communique View Post
    I don't think the coin would need to be worth $1T in platinum value. It would simply be made of platinum and denominated at $1T.
    Yes, indeedy! That old fiat coinage. Money because we say it is. That is currently referred to as a "medium of exchange." It is always the same. As long as there is 0 % interest, there is manipulation. Undeniable manipulation. Will the end result be a much reduced usage of US Dollars.

  4. #144
    Banned
    Join Date
    Jan 2010
    Location
    Canada, Costa Rica
    Last Seen
    05-16-16 @ 09:45 AM
    Gender
    Lean
    Independent
    Posts
    31,645

    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Jessica22 View Post
    We agree on some of what you said (rather go with ares of agreement). I put it this way trillions have been pumped into the banking system to re-open the Wall Street casino. Money is trapped in the banking system for the reason you stated (interest on reserves) plus the demand for stuff just isn't there to justify investment. There isn't a term for what I see occurring. Deflation caused by unemployment and less stuff produced with simultaneous inflation in commodity prices caused by mal-investment created by Fed policy using only the monetary system to help the economy.

    As for the trillion dollar coin, "unorthodox" methods in the face of the stupidity of not raising the debt ceiling is less disruptive.
    Perhaps it's best to stop all this talk about a "debt ceiling" if it will always be ignored and out of control spending continues. Why even bother with the pretense that spending and borrowing will ever be remedied? It just makes asses out of everyone because we know it will never end until they close the doors.

    Politicians like to punt, just as they did on this 'fiscal cliff' issue, and leave it for someone else smarter than them to try and fix it after they leave office.

  5. #145
    Sage
    Khayembii Communique's Avatar
    Join Date
    Nov 2006
    Location
    Milwaukee, WI
    Last Seen
    Today @ 04:02 PM
    Gender
    Lean
    Undisclosed
    Posts
    7,881

    Re: Can Trillion Dollar Coins Save the Economy?

    I don't see the purpose of the debt ceiling in any case. If congress passes a budget then that should imply they also approve of funding the spending for that budget. That's why the debt ceiling used to be a non-issue, anyways.
    "I do not claim that every incident in the history of empire can be explained in directly economic terms. Economic interests are filtered through a political process, policies are implemented by a complex state apparatus, and the whole system generates its own momentum."

  6. #146
    Educator
    Join Date
    Sep 2012
    Last Seen
    02-08-13 @ 10:14 AM
    Lean
    Libertarian - Left
    Posts
    843

    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Grant View Post
    Has Obama ever shown interest in balancing a budget?

    In fact they haven't even presented a budget and there appears no haste to do so. The last one Obama presented was voted down by everyone and he certainly didn't campaign on the importance of having a budget. In fact budgets would only get in the way of his cronyism spending, where billions are being pocketed.

    My understand is that this is also contrary to the Constitution.

    Obama budget defeated 99-0 in Senate - Washington Times
    What that article leaves out is that it what the GOP brought to the floor wasn’t a ‘budget’ in the sense. It was only the top line numbers, roughly 2000 pages short of an actual Congressional budget (it was only about 50 pages long).

    In short a trap, a gimmick, a GOP election campaign stunt to sell as a “historic rejection of a sitting President”, roughly speaking a shuck and jive that would make P.T. Barnum proud. But certainly one that they have gotten a LOT of mileage out of, sucking in rubes like you. *shrug*
    Last edited by Dwight; 01-08-13 at 06:27 PM.

  7. #147
    User
    Join Date
    Jan 2013
    Location
    NY
    Last Seen
    07-12-13 @ 09:19 AM
    Gender
    Lean
    Progressive
    Posts
    53

    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Khayembii Communique View Post
    I don't see the purpose of the debt ceiling in any case. If congress passes a budget then that should imply they also approve of funding the spending for that budget. That's why the debt ceiling used to be a non-issue, anyways.
    Damn you took my response!!!

  8. #148
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Khayembii Communique View Post
    I don't see the purpose of the debt ceiling in any case. If congress passes a budget then that should imply they also approve of funding the spending for that budget. That's why the debt ceiling used to be a non-issue, anyways.
    Any Ideas as to why the demo's have not passed a budget in over 4 years now?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  9. #149
    Sage
    Fenton's Avatar
    Join Date
    Nov 2012
    Last Seen
    Today @ 07:22 PM
    Gender
    Lean
    Conservative
    Posts
    26,239

    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Jessica22 View Post
    We agree on some of what you said
    (rather go with areas of agreement).
    I'd put it this way. Trillions of dollars have been pumped into the banking system to re-open the Wall Street casino. Money is trapped in the banking system for the reason you stated (interest on reserves) plus the demand for stuff just isn't there to justify investment. What I see occurring is eflation caused by unemployment and less stuff produced with simultaneous inflation in commodity prices caused by mal-investment created by Fed policy using only the monetary system to help the economy.

    As for the trillion dollar coin, "unorthodox" methods in the face of the stupidity of not raising the debt ceiling is less disruptive.
    I see no benefit to the "trillion dollar coin" concept and just see it as a attempt to mainstream the discussion of a ever increasing debt without any thought to the potential perils of being so leveraged up one good sell off or one credit downgrade could render this entire discussion pointless.

    Imagine, were defeated by our own insatiable appetite for spending because we've come to expect the minimum from our politicians and 8 years of Obama has everyone convinced that Keynesian economics works in a global economy....when we buy are crap from China.

    Hey is that a incoming thermal nuclear warhead ? Nope, the Chinese just dumped their bonds because we threatend to defend Taiwan and live up to our agreement to keep Taiwan Democratic.

    Its stupid, stupid , stupid. Instead of trying to incentivize private sector growth Obama's sustained misery has everyone justifying making the US less secure.

    Is the 3 oclock phone call Obama calling Wen Jia Boa or Putin when we hit 20T with yields climbing and uttering "execute order 66" ?

    The order to dump all US bonds owned by the Chinese and the Ruskies will be "execute order 66" because I'm a huge Star Wars fan.

    No one is putting up any effort to improve our economy, its supposed damage control from 2008 and thats BS.
    Last edited by Fenton; 01-08-13 at 07:00 PM.

  10. #150
    Sage
    j-mac's Avatar
    Join Date
    Mar 2009
    Location
    South Carolina
    Last Seen
    12-08-17 @ 03:46 PM
    Gender
    Lean
    Conservative
    Posts
    30,272

    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Jessica22 View Post
    As for the trillion dollar coin, "unorthodox" methods in the face of the stupidity of not raising the debt ceiling is less disruptive.
    Does anyone realize that a "trillion dollar platinum coin" would be about 39,000,000 pounds? On a serious note, are we to now believe that progressives are putting stock in non fiat currency?
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

Page 15 of 18 FirstFirst ... 51314151617 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •