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Thread: Surprise! Huge US Budget Surplus Shatters Record

  1. #201
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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Kushinator View Post
    I have already explained my position:

    The U.S. deficit projects to have a Jan-Dec decline of roughly 60%.

    That.... is good news no matter how much you hate the current administration.
    I know. The markets are just too dumb to figure that out because they're down today. I guess the markets just aren't as knowledgeable about this stuff as you are.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Papa bull View Post
    I know. The markets are just too dumb to figure that out because they're down today. I guess the markets just aren't as knowledgeable about this stuff as you are.
    This is a straw man argument. Equity market reaction is not the foremost authority on what constitutes good news. That your argument has gone to this extent only displays the disparity of your position.

    Your typical knee-jerk reaction to cognitive dissonance.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Kushinator View Post
    This is a straw man argument. Equity market reaction is not the foremost authority on what constitutes good news. That your argument has gone to this extent only displays the disparity of your position.

    Your typical knee-jerk reaction to cognitive dissonance.
    Of course the equity markets aren't nearly as sharp about what is and isn't good news as you are. That's why you're filthy rich. You know stuff. Pffft... equity markets don't know nuthin' about economics. Not compared to you.

    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Papa bull View Post
    Of course the equity markets aren't nearly as sharp about what is and isn't good news as you are. That's why you're filthy rich. You know stuff. Pffft... equity markets don't know nuthin' about economics. Not compared to you.

    Equity markets are driven by profits and future expectation of said profits. They are not a barometer to all good and holy.

    Take for example Bernanke stating that asset purchases will not decline until U.S. economic activity increases to a sustainable level. Because growth was looking good, some speculators began getting extremely short Treasuries and U.S. equities declined well below recent all time highs. Markets calmed down and interest rates have come down about 20 basis points (roughly 17%). We are now sitting close to historic highs.
    It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Kushinator View Post
    Equity markets are driven by profits and future expectation of said profits. They are not a barometer to all good and holy.

    Take for example Bernanke stating that asset purchases will not decline until U.S. economic activity increases to a sustainable level. Because growth was looking good, some speculators began getting extremely short Treasuries and U.S. equities declined well below recent all time highs. Markets calmed down and interest rates have come down about 20 basis points (roughly 17%). We are now sitting close to historic highs.
    Their indifference spoke volumes. This was not "big" news. It didn't even hit the "financial' news segments. It was a big, fat, hairy ZERO. The funny thing is that you must know that by now, but you're so invested in pretending it is a big, fat, hairy deal that you can't let it go.

    That's OK. I needed a good laugh on a Friday. Have a nice weekend.
    You can't reason anyone out of a position they didn't reason themselves into in the first place.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Kushinator View Post
    While i wouldn't support selling Alaska, it has to be worth at least... $20 trillion?
    Depends on the natural resources in the ground.
    PeteEU

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    More then 1/2 of the surplus came from Freddie/Fannie.

    Most of the rest I believe came from added revenues (I.e. Americans have to give more of their money to the government).


    When a surplus is due to slashing government expenditures without a raise in revenues...then I will DEFINITELY applaud it.

    That won't be anytime soon, I am afraid.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by Kushinator View Post
    How is someone with such a limited understanding of finance arguing so
    aggressively? You think you would take your lumps and just move on....

    It won't impact equity markets because..... the news is not earnings-centric. Meaning, U.S. publicly listed companies will not, i repeat, will not reap the types of economic benefits your ideology vehemently believe in; lower deficits create income (where as in fact, it is the other way around).

    Look at bond bond prices. They have increased, which of course makes all the sense in the world if you were a bond trader and the supply of deficit orientated treasury issuance was looking to fall in considerable fashion.
    Bond values are up right in the middle of unprecedented QE.

    I can't think of a more distressing indicator when perpetually low interest rates cause a increase in bond values or bond sales.

    One of the supposed and intended effects of Bernakes QE was to push people out of bonds and into more risky securities.

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by DA60 View Post
    More then 1/2 of the surplus came from Freddie/Fannie.

    Most of the rest I believe came from added revenues (I.e. Americans have to give more of their money to the government).


    When a surplus is due to slashing government expenditures without a raise in revenues...then I will DEFINITELY applaud it.

    That won't be anytime soon, I am afraid.
    Or when the $100B is actually applied to the debt ...

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    Re: Surprise! Huge US Budget Surplus Shatters Record

    Quote Originally Posted by blaxshep View Post
    Or when the $100B is actually applied to the debt ...
    Hear hear.


    It's like a guy who has huge debts and finds $100 on the ground.

    Instead of paying down what he owes with it, he goes out and buys more 'stuff' he wants but does not need with it.

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