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Thread: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

  1. #111
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by Erod View Post
    He did nothing of the sort. Rebuilding Europe after WWII transferred the wealth from Europe to the United States. FDR did nothing but prolong the recovery. You are right about the empty coffers, though.
    I was under the impression that WWII debts from MOST of Europe never got paid ....
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by Erod View Post
    He did nothing of the sort. Rebuilding Europe after WWII transferred the wealth from Europe to the United States. FDR did nothing but prolong the recovery. You are right about the empty coffers, though.
    You could not put forth a compelling argument regarding the bold if you were paid to....
    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

  3. #113
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by Ockham View Post
    Either way - though drones (play on "full scale attack") or printing more money --- we **** out of luck here.

    Time to shut down the government - send these clowns home and let the market fix this. Unless of course, we can just print more worthless money ...
    Isn't the market and the corruption contained within it, what got us to this point in the first place?
    "Life shrinks and expands in proportion to ones courage" - Anais Nin
    "The only good is knowledge and the only evil is ignorance" - Socrates

    Two quotes I try to live my life in accordance with.

  4. #114
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by danarhea View Post
    Roosevelt essentially spent our way out of the Great Depression. But this time, we have a problem - We don't have any money left to do this.
    In actual fact WW11 was the prime reason for the ending of the Great Depression.

    With respect to the US being broke, I have been saying this for the last 6 years, to ears that remain stubbornly closed.
    Government has never created wealth, that is something that is created by the ingenuity and industry of people.
    If these people cannot see that they are going to be permitted to keep a fair share of the wealth they create, put quite simply, they will not create that wealth.
    So Obama and his cabal are in a cleft stick, either they stick to their beliefs that Government controls wealth making as well as wealth distribution, or they all of a sudden turn 180 degrees and become pragmatic enough to allow business the free reins in needs to create not only wealth, but jobs to create that wealth.

  5. #115
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    Re: Obama Calls for 'Full-Scale Attack' to Revive Struggling Economy

    Quote Originally Posted by Goldenboy219 View Post
    The price of treasuries are increasing, however the issuance of short term debt is increasing more so than face values (which are market determined for the most part).



    Not entirely. More treasuries are being issued in the face of greater demand (which illustrates the post 2008 retracement).



    It all depends on demand. Short term debt is in greater demand since 2000 partly because of a growing negative current account. Foreign trade partners (say China) have a greater demand for "two year" and less durations due to greater flexibility. Reason be, maturities are quicker which reduces the possibility of portfolio devaluation. Liquidating a slew of longer term debt would undoubtedly lower the face value in cases such as China or Japan (the latter is highly unlikely).

    Inflation expectations are also quite low (which is critical in increasing demand for short term debt).
    I would expect that as the economy recovers (eventually) our current account will continue to become more negative (compared to during the recession). So this should mean a higher amount of US fincancial assets being sold overseas (more treasuries). So in this regard we should continue to see a growing demand for short term treasuries.

    I am curious about what more short-term debt being demanded means for the government financing though. Does this make it harder for the US government to continue to "roll over" its debt onto the next year, since we consecutively have had deficits for 10 years now? I would think it would make it easier for the government to continue to borrow, however, a drop in demand for short term treasuries might trigger the government to have to use more long term debt to finance its activities.

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