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Thread: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

    Quote Originally Posted by eohrnberger View Post
    Hmm. That is worrying indeed. At this moment, the government with it's huge outstanding debt can ill afford to be paying increased interest rates on that debt. Assuming, of course, that increased interest rates are tied to inflation (they both go up together?).
    There in lies the problem that most people don't understand. Debt is financed at current record low interest rates and when those interest rates rise the interest on the debt will rise as well. Current debt service is the fourth largest budget item and soon will exceed the amount spent on National Defense which is the requirement of the Federal Govt. What is wrong with people who cannot see the problems this debt service creates?

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

    Quote Originally Posted by Conservative View Post
    There in lies the problem that most people don't understand. Debt is financed at current record low interest rates and when those interest rates rise the interest on the debt will rise as well. Current debt service is the fourth largest budget item and soon will exceed the amount spent on National Defense which is the requirement of the Federal Govt. What is wrong with people who cannot see the problems this debt service creates?
    Failed consumer math classes?

    The other worrisome thing along those lines is the Fed. The Fed has extended it's balance sheet to the tune of $80B per month for what seems like 3 or 4 years now, but could be even closer to 6 years, now that I think about it.

    So the Fed has this huge outlay of money out there. They may go bust, if they've overextended themselves. But not to worry, the US Fed. Gov. backs up the Fed, and will make good on any of the Fed's debt that it can't handle. So who exactly is lending US Fed. Gov all the money? The Fed.

    Isn't this like circular logic? This circular dependency. One hiccup, and they'll both go down?
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

    Quote Originally Posted by eohrnberger View Post
    Failed consumer math classes?

    The other worrisome thing along those lines is the Fed. The Fed has extended it's balance sheet to the tune of $80B per month for what seems like 3 or 4 years now, but could be even closer to 6 years, now that I think about it.

    So the Fed has this huge outlay of money out there. They may go bust, if they've overextended themselves. But not to worry, the US Fed. Gov. backs up the Fed, and will make good on any of the Fed's debt that it can't handle. So who exactly is lending US Fed. Gov all the money? The Fed.

    Isn't this like circular logic? This circular dependency. One hiccup, and they'll both go down?
    No, what they will do is just print more cash and the inflation will hurt millions and millions of Americans. Just goes to show that liberals think with their hearts and fail to use their brain.

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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

    Quote Originally Posted by Conservative View Post
    Selective spin? you are the master and I knew I could count on you to continue to buy the rhetoric and ignore the reality. Now had you said that TX leads the nation in the number of people who are paid the FEDERAL minimum wage, you would have been accurate, but the reality is, BLS only counts the Federal Minimum wage, not the 1.6 million Californians who before July 1, 2014 were paid $8 an hour vs the 7.25 per hour Federal Minimum wage. States can and do set their own minimum wage which is why the minimum wage isn't a Federal Issue but that reality as usual escapes people like you who are married to an ideology that fails everywhere in the world but liberal arrogance continues to say ignore the results we can succeed here.

    Don't need Politifact to tell me about TX. I have lived and worked here since 1992, the best move I have ever made. Spent a lot of time in California and the entitlement mentality there turned me off. Didn't want to raise my kids there. I will let the people speak and the reality is hundreds of thousands of people are moving to TX, Businesses are relocating to TX, 52 of the Fortune 500 Companies are headquartered in TX, The medical industry is a major force in TX, and TX has one of the lowest cost of livings in the nation. I can see why liberals like you are jealous.
    LOL.....I can see why you diss Politifact. I would too if it exposed all of your talking points as the lies that they are. Oh...by the way....Politifact is pretty well respected as being a balanced news source, not having a particular bent. Doh!
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    Re: U.S. Economy Shrinks By Most Since Great Recession in 1Q[W:487:681]

    Quote Originally Posted by disneydude View Post
    LOL.....I can see why you diss Politifact. I would too if it exposed all of your talking points as the lies that they are. Oh...by the way....Politifact is pretty well respected as being a balanced news source, not having a particular bent. Doh!
    They are printed distorted information just like you do all the time. You want badly to believe what you are told without looking at the rest of the story. It has been posted here with links that California leads the nation in the number of people below the poverty level but you ignored it. You ignore the reality that your state had an $8 an hour Minimum wage thus wasn't counted by the Bureau of Labor Statistics. It has been posted here the cost of living by states which again you ignored. You ignore anything that refutes what you post and yet you continue. Guess you have no pride and simply cannot accept the fact that you are wrong on any issue.

    Do you honestly believe it is the Government's role to create individual wealth and there is no personal responsibility for what someone makes? You want to define what is poor and ignore cost of living varies by state. You think someone who lives on $8 an hour in California is better off than someone who makes 7.25 in TX? As long as you post liberal bs and ignore reality you are never going to have any credibility.

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