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Thread: Can Trillion Dollar Coins Save the Economy?

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by lpast View Post
    Doesnt matter how it was raised...
    Of course it does. Printing a trillion dollar coin would be one of the worst methods.

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    Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by fredmertzz View Post
    Can Trillion Dollar Coins Save the Economy? - Yahoo! News

    I just don't understand the argument for this solution. In my mind, this is an equivalent of defaulting on our debt.

    But when I think of differently, from the 'inflation' standpoint instead, it seems this is exactly what all of us "Flat-Tax" promoters have been asking for...

    If $1T were created to pay down the debt, which equally devalued every dollar in the economy equally, say by 5%, we would all have a buying-power income decrease of 5%. Whether you make $1M/yr or $20k/yr, your pay is decreased 5%...

    For once, I won't argue w/ the Keynesians - you go ahead and do what you think is best. You'll be your own undoing.
    So, you see what is happening because of the logic of those that run the economy.... The question is, if even the lay person sees that these people are ruining the economy, at what point do you say that it must be intentional?? Or do you just accept after the damage is too far gone, when the people say, "were sorry we did our best"??

    I tried to find the video from Zimbabwe where the people were laughing how they were billionaires yet broke.

    A bigger question for you, who sees where this is going, what are you doing to protect yourself against the inevitable outcome??

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by buck View Post
    Of course it does. Printing a trillion dollar coin would be one of the worst methods.

    What is the difference in the method if the end result is the same...lol

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by lpast View Post
    What is the difference in the method if the end result is the same...lol
    It will undermine other country's confidence in our debt and economy moreso then any of the other options. It would be nearly nuclear in congress. You thought democrats were partisan when Bush was president or republicans are partisan when Obama is president? Both will pale compared to what would occur after minting a trill dollar coin. Is it even legal? The courts would probably find that it is not, due to the intent of the legislation allowing platinum coins (collectors).

    The best way to do it, is cut spending/increase revenue then increase the debt ceiling so that we can stop hitting the debt limit every couple of years. This would create themost confidence in our debt around the world and ensure democrats don't promise to cut spending only to ingore the promise - as history has shown they do.
    Last edited by buck; 01-07-13 at 11:41 AM.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Fenton View Post
    Riiiight.....lol

    A promise from a Democrat to stop spending and do the responsible thing is akin to a promise from a Heroin addict to return the 50 bux you lent him for "Gas" or so he could get his Grandma's medicine.

    Panhandlers and Democrats have a lot in common. They'll always try to demagogue the issue.

    We DONT have the credit now. We have our Central Banks buying short term Treasuries at 0% who've leverage themselves up to a 70% origination of Treasury debt.

    Its the perception of credit and BTW the Fed plans on stopping their purchase of Treasuries this year.

    No wonder this goofy trillion dollar non-solution keeps popping up.

    With out the Treasury there is no money because Obamas definitely not getting new revenue out of the economy or "the rich".

    Alot of people had the same thought process in 2007 as they took out second loans on their new instant equity that the Democrat mandated Housing bubble gave them.

    "if the credit's available".....famous last words.

    Greece I'm sure uttered something along those lines as they sold massive amounts of junk bonds and placed massive weights on their private sector......sounds familliar.

    Hell we'll keep borrowing and if it tanks thousands of European banks and Investors and then the European economy, Oh Well.We're Socialist Democrats, we really dont give a ****.

    Nope, a promise from a liberal is just a promise that your going to get ripped off.

    There is no growth on the horizon for America with a GDP thats inflated by massive Govt spending with borrowed money.

    You guys did this, everyone who stupidly voted for Obama had a hand in the perpetual misery of millions of American families and there is more to come.

    Hope you guys are proud of yourselfs.
    They voted for Obama because of artificial issues and emotions but are now trying to rationalize their foolishness as though there were loftier motives, like economics and fiscal responsibility. But really it was all abut condoms, horses and dogs.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by buck View Post
    It will undermine other country's confidence in our debt and economy moreso then any of the other options. It would be nearly nuclear in congress. You thought democrats were partisan when Bush was president or republicans are partisan when Obama is president? Both will pale compared to what would occur after minting a trill dollar coin. Is it even legal? The courts would probably find that it is not, due to the intent of the legislation allowing platinum coins (collectors).

    The best way to do it, is cut spending/increase revenue then increase the debt ceiling so that we can stop hitting the debt limit every couple of years. This would create themost confidence in our debt around the world and ensure democrats don't promise to cut spending only to ingore the promise - as history has shown they do.

    Buck...seriously ive heard these same claims of woe and dismay my entire life...Ive heard the country is going down the tubes..we wont survive...were are so far in debt we can never get out...do you really think all this POLISTICAL GARBAGE is new...do you think politicians creating doom scenarios for political gain is new...do you think that the rich and powerful creating crisis to turn the county in the direction they want it to go is NEW....got news for you this is all contrived bs for the rich and powerfuls gain...they created this debt and this crisis now its time to put the blame where they want it so they can gain more...its all bs

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by lpast View Post
    Buck...seriously ive heard these same claims of woe and dismay my entire life...Ive heard the country is going down the tubes..we wont survive...were are so far in debt we can never get out...do you really think all this POLISTICAL GARBAGE is new...do you think politicians creating doom scenarios for political gain is new...do you think that the rich and powerful creating crisis to turn the county in the direction they want it to go is NEW....got news for you this is all contrived bs for the rich and powerfuls gain...they created this debt and this crisis now its time to put the blame where they want it so they can gain more...its all bs
    Regardless, the trillion dollar cion will never happen while adults are still in congress, and it is not a good way, and probably one of the worst ways, to take care of the issue. There are many people that disagree with you and believe that the size of the debt and deficit are getting to be a huge problem and it's time something was done to bring it under control. You and Krugman are free to disagree, but you would be incorrect.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by DaveFagan View Post
    You might try explaining that when all teh banks of the World know that the USA is trapped into a debt spiral that interest rates are suddenly about 0%. When demand is up, rates go up. When demand is down, rates go down. That old supply and demand thing. Give me a play by play on the current circumstance, please.
    Holy ignorance on a stick, Batman! Interest payments run counter to market demand for the debt being issued.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by Grant View Post
    Canada got rid of a lot of useless pork spending (though not enough) and there is no reason why the US can't do the same right now. But rather than make any move in that direction they added more pork.
    Pop quiz, how do does Canada and the US compare on ratio of yearly government expenditures (total of all levels of government) as a percentage of GDP:
    1) USA’s expenditure ratio is notably higher
    2) roughly the same
    3) Canada’s expenditure ratio is notably higher
    Last edited by Dwight; 01-07-13 at 02:48 PM.

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    Re: Can Trillion Dollar Coins Save the Economy?

    Quote Originally Posted by buck View Post
    Regardless, the trillion dollar cion will never happen while adults are still in congress,
    The rub is that whether or not adults are still in majority in Congress is in question. That there is doubt about that is exactly why this even comes up.
    …and it is not a good way, and probably one of the worst ways, to take care of the issue.
    Agreed, which is why the WH has indicated they have no intentions of pursuing it.

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