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Thread: U.S. National Debt Tops Debt Limit

  1. #41
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    Re: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by Jackboot View Post
    So reducing federal, state spending, this is just not an option, just print, inflate, and destroy?
    Such an option will only facilitate deflation causing an even greater realization of animal spirits.

    Quote Originally Posted by Keynes
    Even apart from the instability due to speculation, there is the instability due to the characteristic of human nature that a large proportion of our positive activities depend on spontaneous optimism rather than mathematical expectations, whether moral or hedonistic or economic. Most, probably, of our decisions to do something positive, the full consequences of which will be drawn out over many days to come, can only be taken as the result of animal spirits - a spontaneous urge to action rather than inaction, and not as the outcome of a weighted average of quantitative benefits multiplied by quantitative probabilities.

    Source:
    John M Keynes, The General Theory of Employment, Interest and Money, London: Macmillan, 1936, pp. 161-162.
    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: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by Goldenboy219 View Post
    Such an option will only facilitate deflation causing an even greater realization of animal spirits.



    Source:
    John M Keynes, The General Theory of Employment, Interest and Money, London: Macmillan, 1936, pp. 161-162.

    You are right the **** up Keynes' ass aren't you GB?

    Protip: Economists are not always right.

    also, Milton chuckles at all your Keynes quotes.

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    Re: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by Goldenboy219 View Post
    Such an option will only facilitate deflation causing an even greater realization of animal spirits.



    Source:
    John M Keynes, The General Theory of Employment, Interest and Money, London: Macmillan, 1936, pp. 161-162.
    Does Keynes explain who will pay for the old, the young, the middle class, the unwed mother, the handicapped, the poor, the immigrant, etc, just who will pay these bills exactly?

    As I said before, this country is losing their reputation around the world, this currency is in decline, our respect and the faith in our dollar is in decline, this ponzi scheme is coming to an end!

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    Re: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by EpicDude86 View Post
    You are right the **** up Keynes' ass aren't you GB?
    Protip: Economists are not always right.
    Its called an 'appeal to authority' and is a logical fallacy.

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    Re: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by EpicDude86 View Post
    You are right the **** up Keynes' ass aren't you GB?

    Protip: Economists are not always right.

    also, Milton chuckles at all your Keynes quotes.
    I think Milton Friedman was just as influential as Keynes. You see, i am not a one trick all or nothing type of individual. You can learn a little from everyone.
    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: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by Goldenboy219 View Post
    I think Milton Friedman was just as influential as Keynes. You see, i am not a one trick all or nothing type of individual. You can learn a little from everyone.
    What did you learn from this man??

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    Re: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by Goobieman View Post
    Its called an 'appeal to authority' and is a logical fallacy.
    I was just explaining animal spirits. We had a good whiff of them from september '08 until april '09. Get with the program goobes, or piss of
    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: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by Goldenboy219 View Post
    I think Milton Friedman was just as influential as Keynes. You see, i am not a one trick all or nothing type of individual. You can learn a little from everyone.
    The Milton reference was a joke based on Milton's criticism of ol' Keynes and the fact that he's about the only one you do quote...Unless I missed you quoting other economists...I could be wrong...

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    Re: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by PeteEU View Post
    Dont get me wrong.. I actually agree with you. While Obama is going the right way he has showed at times "failure of leadership". But in this case I dont see how Obama had any choice what so ever. Bush DID have a choice in all the 7 times he got the debt ceiling raised.

    But that does not change the fact that most conservatives today blame Obama for most if not all of the debt, and that is so factually wrong. They gloss over the fact that of the 12 trillion at least 5 if not 6 trillion came during Bush's watch with a Republican (conservative) run Congress. In there lies not only the irony but the hypocrisy as well.
    I'm assuming that those are the 4 times that you singled out in your post before? Those 4 times equaled out to 3 trillion over the course of 5 years. And they want to raise the ceiling 1.8 trillion under Obama...not counting how much they raised it with the stimulus package, thats over half what Bush did in 5 years, in just one year.

    As for conservatives today blaming Obama for "most if not all of the debt" that's pretty common across any party line. Depending of course on who is in charge.
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    Re: U.S. National Debt Tops Debt Limit

    Quote Originally Posted by Jackboot View Post
    So reducing federal, state spending, this is just not an option, just print, inflate, and destroy?
    How is feeding a deflationary economy more deflation going to help it?

    How long are people going to stand for this, how about foreign investors, how long will they continue to, invest, or trust this irresponsible country, and their ponzi scheme?
    Well, they wouldn't stand for a deflationary economy. Why invest now at price x when I can invest at price Y which is $10 cheaper? Deflation is just as bad, if not worse then inflation for economic growth.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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