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Can Trillion Dollar Coins Save the Economy?

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
 
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.
 
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! :shock: Interest payments run counter to market demand for the debt being issued.
 
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
 
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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.
 
Oh wait, buck, you are under the misguided impression that Congress needs to sign off on the coin design. Ah, I see your confusion. Nope, not according to the text of the law.

31 USC § 5112 - Denominations, specifications, and design of coins | LII / Legal Information Institute

(k) The Secretary may mint and issue platinum bullion coins and proof platinum coins in accordance with such specifications, designs, varieties, quantities, denominations, and inscriptions as the Secretary, in the Secretary’s discretion, may prescribe from time to time.

My emphasis for ease of reading. :)
 
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Oh wait, buck, you are under the misguided impression that Congress needs to sign off on the coin design. Ah, I see your confusion. Nope, not according to the text of the law.

31 USC § 5112 - Denominations, specifications, and design of coins | LII / Legal Information Institute
My emphasis for ease of reading. :)

Without going through the law and to be as lazy as possible, I have my doubts:

From the article in the OP:
At that point, the American people must decide whose face will adorn the trillion dollar trinket. The process to determine the "specs" of the coin, U.S. Mint Public Affairs Specialist Genevieve Billia warns, must be "determined by legislation," creating the potential for another congressional impasse.
Also to note: The likeness sculpted into its side must belong to a dead person, ruling out early favorite Ikea Monkey, but boosting the candidacies of Ronald Reagan and John Maynard Keynes.

I really do tend to just trust the US Mint and am more likely to just assume I am missing somethign in the actual law. Of course, as any media report, I guess it could be wrong. Shrug.
 
Without going through the law and to be as lazy as possible, I have my doubts:
Well yeah, if you can’t actually be bothered to get off your ass and read (even when it is handed to you on platter) you are going to stay pretty ****ing ignorant.

Because I am not even directly contradicting PR Talkinghead Guy (yeah, they never get anything backwards *cough*ambassador susan rice*cough*) as the legislation already lays it out, in this case the Secretary gets to pick and choose. :)
 
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Holy ignorance on a stick, Batman! :shock: Interest payments run counter to market demand for the debt being issued.

Seriously ?

The Fed controls interest rates on Treasuries, among other things and is currently keeping them low to try and kick start a shrinking economy. It's not working because ignorant ideologues elected and re-elected an incompetent ideologue and interest rates are just Bernanke's way of saying " I tried '.

Oh and they're kept low because any increase in interest rates by say, just a few points would bankrupt us as you apologist clamor on about the debt not being an issue. Imagine the first time we can't service our debt because a 6% interest increase added 1 trillion to Captain-dumb-shyts massive annual deficit spending.


But we have nothing to worry about right ? Unemployment is decreasing ( Because the labor pool is decreasing ) and our GDP is 3% ( because of massive Federal spending, not consumer increases ) and tax rates on the most extremely most evil richest in America went up so we can finally add revenue ( tax increases on just about everyone wen't up and it will actually lower revenue ) and ObamaCare will cut the deficit.......LOL !!
 
Seriously ?
Yes, seriously. :roll:

The Fed controls interest rates on Treasuries…
Only partially.

Institutional - How Treasury Auctions Work

Further, if the market was unwilling to buy enough of the pre-fixed yield bonds (i.e. demand was low) they would be pressured to raise the return rates on the debt issued.

Come on people, think. Why do you think that “junk bonds” have such high rates of interest?
 
Holy ignorance on a stick, Batman! :shock: Interest payments run counter to market demand for the debt being issued.
Great gooey, gobs of grimy, green, gopher grunt, Robin. Greece be saved! All they have to do is put a trilliooon dollars of bonds out there with no competing bidder and the Federal Reserve will buy them at about 0 % interest. No problem.. Let's see now, the US Treasury issues bonds and nobody bids so the Federal Reserve (a private corporation) buys them all for 0 %. Hot damn y'all an swar, Batman, I think we found the Holy Grail. Why is Greece paying 7% interest and it can't be their debt because it's about the same as ours. Is duplicity afoot? Let's try that again. The whole world knows the US needs money and borrows with bonds. Must be everybody wants them. No, They don't. China even stopped buying. ERGO, the US improves the bait by offering better interest, like Greece, but wait, No, they don't. The Private Corporation and BAnk, The Federal Reserve offers to purhase them near 0 % interest. Gadzooks, Batman, sell your Federal Reserve stock; it's being run by morons, it would appear.
 
Great gooey, gobs of grimy, green, gopher grunt, Robin. Greece be saved! All they have to do is put a trillion dollars of bonds out there with no competing bidder and the Federal Reserve will buy them at about 0 % interest.
In your addled mind they can put it out with bidding because the less demand for it the lower the rates.

:roll:
Let’s see now, the US Treasury issues bonds and nobody bids so the Federal Reserve (a private corporation) buys them all for 0 %.
Buys them all? At 0%? Er, no. Yes, the Fed Reserve has sopped up some at certain periods (it even did this at times at a smaller scale prior to the 2008 recession). However:

http://www.nytimes.com/2012/09/22/business/economy/as-the-us-borrows-who-lends.html?_r=0
Why is Greece paying 7% interest and it can’t be their debt because it’s about the same as ours.
Greece’s debt is not “about the same as ours”, by any measure..unless you happen to be a Japan citizen? But even that is a stretch, as Japan’s debt to GDP is somewhat higher than Greece’s.

Also, Greece has a much more fundamental problems than just the size of their debt that has earned them their current risk expectation on their government issued debt.
China even stopped buying.
Well they started, again. Further:
China Resumed Treasury Buys in July as Trade Surplus Widened - Businessweek
“The biggest misconception in the marketplace is that Chinese buying of Treasuries has something to do with Treasuries,” said Krishna Memani, director of fixed income at OppenheimerFunds Inc. in New York, who manages $70 billion. “China buying Treasuries has everything to do with China’s trade position relative to the U.S. It’s entirely trade driven.”

Somebody has been feeding you a whole lot of misinformation and you’ve been lapping it up. :(
 
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Yes, seriously. :roll:


Only partially.

Institutional - How Treasury Auctions Work

Further, if the market was unwilling to buy enough of the pre-fixed yield bonds (i.e. demand was low) they would be pressured to raise the return rates on the debt issued.

Come on people, think. Why do you think that “junk bonds” have such high rates of interest?

Yes, Treasuries are sold through Treasury Auctions, I get that.

You think investors sheltering their assets in the last stand that is the US Treasury is a good thing ? Sounds like the makings of a Bond bubble as our debt ( a "non-issue" ) climbs to astronomical proportions and these short term bonds mature and or are sold off at a discount rate.

Point is a climbing debt based on short term Treasuries at low interest rates equals the inevitable increasing bond yield....unless we can guarantee interest rates will be kept a next to nothing for ever.

That's kind of like investors thinking housing prices were going to keep climbing and never stop, but that didn't happen.

I see a messy end to Obama's and Bernake's little experiment. I don't see any way out of it personally.
 
In your addled mind they can put it out with bidding because the less demand for it the lower the rates.

:roll:

Buys them all? At 0%? Er, no. Yes, the Fed Reserve has sopped up some at certain periods (it even did this at times at a smaller scale prior to the 2008 recession). However:

http://www.nytimes.com/2012/09/22/business/economy/as-the-us-borrows-who-lends.html?_r=0

Greece’s debt is not “about the same as ours”, by any measure..unless you happen to be a Japan citizen? But even that is a stretch, as Japan’s debt to GDP is somewhat higher than Greece’s.

Also, Greece has a much more fundamental problems than just the size of their debt that has earned them their current risk expectation on their government issued debt.

Well they started, again. Further:
China Resumed Treasury Buys in July as Trade Surplus Widened - Businessweek


Somebody has been feeding you a whole lot of misinformation and you’ve been lapping it up. :(



I see! You agree that the Fed buys lots of bonds. You agree China stopped buying. Apparently Greece doesn't have a FED to buy their bonds. So the USA bonds are bought by groups that don't believe in the value of money. You know. Near 0 % interest. China must buy those bonds because of the pretty paper they are printed on. Wait, they love the devaluation of monies that have been going with the US Dollar. Since they only have afew trillion of USD laying about losing value, why not get some more? Ah, the vagueries of Big Business. Buy those US Treasuries so the US will be able to buy our products says the Chinaman. Send them mo' money and they'll buy more or everything and in a circular fashion. Did Bernie Madoff invent this system?
 
Yes, Treasuries are sold through Treasury Auctions, I get that.
Your post was evidence otherwise. Or do you mean you get it now that I have corrected you? :3oops:
You think investors sheltering their assets in the last stand that is the US Treasury is a good thing ?
I think that investors considering US Treasury bonds as an instrument suitable for “sheltering their assets” blows out of the water DaveFagan’s assertions. :2wave:
Sounds like the makings of a Bond bubble
…as our debt ( a “non-issue”)…
Can you please stop that stupid ****.
..climbs to astronomical proportions…
To infinity, and beyond! :lamo
…and these short term bonds mature…
The bulk of the US debt is longer term debt. The short-term debt (52 week bills and shorter) was running as about $1T of the debt back in 2009. The second stage of QE 3 (AKA QE Twist) was partially about moving some more short-term out into long term to make sure to maintain that risk buffer.
..and or are sold off at a discount rate.
If, for example, enough people became convinced that the numbnuts the in Congress peanut gallery were actually going to force the US government to default, sure that could happen. It cost a several billion in interest last time in 2011 as they convince at least a smaller number of people that they really are that bat****. :(
Point is a climbing debt based on short term Treasuries at low interest rates equals the inevitable increasing bond yield….unless we can guarantee interest rates will be kept a next to nothing for ever.
First, 30-year T bonds are going for around 3%, 10-year ones (the biggest chunk of debt) are going for 2% and change.

Next, IMO we do [as I have now repeated a number of times in this thread alone] need restructure government finances in the longer term. There will come a time when interest rates are going to rise. Fortunately along with that it is reasonable to expect that government revenue, even maintaining current tax policy, will have recovered somewhat. As well there will be less pressure on government programs that was created by the recession.**

So, in short, now is not the time to panic and do something that would be entirely destructive; Demand an immediately balanced US Fed budget.


** Longer discussion in here but I am going to leave that for now so as not to muddle the discussion.
 
No you don’t.

You are entirely clueless and without hope, or likely motivation, for making some sort of intellectual contribution or at least growing. :( Welcome to the Ignore List!
 
Your post was evidence otherwise. Or do you mean you get it now that I have corrected you? :3oops:

I'm not the one attempting to justify the current administrations policies of deficit spending in response to a shrinking economy therefore I'm not the one in need of "correction".As for your pointing out that Treasuries are auctioned off I'm not really sure why you needed to point out the obvious.

I think that investors considering US Treasury bonds as an instrument suitable for “sheltering their assets” blows out of the water DaveFagan’s assertions. :2wave:

Given the current "eat the rich" liberal meme of our current administration and our Western European's Friends propensity to tax the hell out of their citizenry US treasuries are a especially good way to shelter your assets for the time being. That is until yields start to rise which is.....inevitable.


Can you please stop that stupid ****.
What ? There are some here that argue that the debt isn't an issue or that it's being blown way out of proportion for political reasons. I was being facetious.....obviously.

To infinity, and beyond! :lamo.
We reached infinity two years ago. What's a good stopping off point ? 20 T ? 30 T ?

The bulk of the US debt is longer term debt. The short-term debt (52 week bills and shorter) was running as about $1T of the debt back in 2009. The second stage of QE 3 (AKA QE Twist) was partially about moving some more short-term out into long term to make sure to maintain that risk buffer.

But we ignore other risk, like sell off's or waiting for our credit rating to be devalued forcing higher yields on short term bonds.. The problem with so much short term low interest bonds is the feasibility and likely increase of bond yields and the current administrations inability to service that new debt.

If, for example, enough people became convinced that the numbnuts the in Congress peanut gallery were actually going to force the US government to default, sure that could happen. It cost a several billion in interest last time in 2011 as they convince at least a smaller number of people that they really are that bat****. :(

I doubt they're going to refuse to raise the debt ceiling but given the current administrations seemingly counter intuitive reactions to a shrinking economy I really don't see what difference it makes. We're raising our debt for the purposes of perpetuating a failing economy and nothing else.

We're not fighting some massive war or "space war against martians" ( Thank You Krugman, you goofy bastid for that ) , or putting a man on mars or building some mega dam or even making investments for the future that would be worthy of new debt. It's BAD debt and contrary to the libtards that like to state that we are going through a "recovery" the truth is we are struggling and sinking further down the rabbit hole.

We're taking the extra capital that usually is used as a way to finance a assertive foreign policy in a time of global conflict but now it's what's it's use ?

First, 30-year T bonds are going for around 3%, 10-year ones (the biggest chunk of debt) are going for 2% and change.

Next, IMO we do [as I have now repeated a number of times in this thread alone] need restructure government finances in the longer term. There will come a time when interest rates are going to rise. Fortunately along with that it is reasonable to expect that government revenue, even maintaining current tax policy, will have recovered somewhat. As well there will be less pressure on government programs that was created by the recession.**

You seem to have far more faith and trust in our current administration than I do and it tends to be the dialogue among politicians to promise something up front and then receive a good kick in the ass for your troubles when the bills due. Personally, I would bet on lending 50 bucks to a crack addict and getting that back than Obama and his cohorts either increasing revenue through economic growth OR for spending under the Democrats to be curtailed.

Funny those government programs "created by the recession" were caused by government programs that "created the recession". Obama and is ilk have not made any notable efforts to rectify our economic failure. And no spending and taxing, nor Keynesian attempts have not made any positive impact or caused a "recovery". Keynesian in a global economy.......lol. Any stimulus just winds up being shipped out to one of largest debt holders because we've become a tertiary economy and we buy lots-o-Chinese junk.

So, in short, now is not the time to panic and do something that would be entirely destructive; Demand an immediately balanced US Fed budget.


** Longer discussion in here but I am going to leave that for now so as not to muddle the discussion.

No of-course, lets wait a bit longer for the panic.
 
I'm not the one attempting to justify the current administrations policies of deficit spending in response to a shrinking economy therefore I'm not the one in need of "correction".As for your pointing out that Treasuries are auctioned off I’m not really sure why you needed to point out the obvious.
You claimed that “The Fed controls interest rates on Treasuries”, which in NOT the case. Ergo you needed the correction…for something that you know claim is so obvious that I should not even mention it?

:spin:

What ? There are some here that argue that the debt isn't an issue or that it's being blown way out of proportion for political reasons.I was being facetious…obviously.
What is not obvious that you were not being facetious towards me, which is nonsensical given my comments. What seemed to me far more obvious is that your brain is stuck deep in a false dichotomy.
But we ignore other risk, like sell off’s or waiting for our credit rating to be devalued forcing higher yields on short term bonds.
Who is this “we”, Kimosabe? Oh sure these are dangerous times with idiots suggesting that it is a good idea to default on honouring Treasury instruments for “for a day or two or three or four” getting scarily close to the controls of power. But, although he still has a seat in Congress, he failed in his VP bid a couple months back and hopefully will get no closer anytime soon. Boehner even effectively moved him further out of influence by acknowledging he really is not in a position to negotiate, since he cannot delivery the goods on deals.

See, there actually needs to be a reason for the sell-off. So we stay calm and methodically wind thing down, because panic leads to dumb decisions. So how about instead of panic later we do the smart thing and just don’t panic at all? Steady hand.
I doubt they’re going to refuse to raise the debt ceiling…
I would hope so. I do feel reasonably comfortable that in the end here are enough sane people left on the GOP side of the House to set aside party unity in favor of the country’s interests. But there is definitely a non-zero number bent on stopping it and being quite vocal about it, in a manner convincing enough that [semi-]serious discussions about $1T coins are being had. *shrug*
You seem to have far more faith and trust in our current administration…
Well I certainly have more faith in them than the [most likely to be elected] alternatives presented in 2008 and 2012.

Am I care-free? No, dangerous times and even if I thought the WH infallible this business of government is a group operation larger than just the Executive Branch, and their are definitely gremlins in the works. I mentioned one particular raven haired one in Congress, above, for example.

But the text you quoted does not have much to do with my particular level confidence, or lack of confidence, in the current WH. It has to do with what the likely environment is that would drive said interest rates [assuming asshats don’t manage to burn our government to the ground in the supposed name of saving us from debt].
 
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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

Here's public debt by different countries. List of countries by public debt - Wikipedia, the free encyclopedia

You can see that Canada's debt under a Conservative government is moving down while US debt, under BHO and his czars, continues to grow. You'll note also that the US is getting up there with Portugal, Ireland and Greece. Did you vote for this?

As to public expenditures, if Canada is spending the money it is raising from taxes then it is preferable to borrowing it and getting trillions of dollars in debt. However if your point is that Canada is also over-governed, I would agree. There should be less in both countries.
 
Well how about a 2 trillion dollar coin then?

How about we make a trillion dollar coin and market it to the gullible people who watch faux news for 29.95? I see great profit there. they bought gold for three times the value, other stupid coin remakes that are not worth a dime to collectors, and the glen beck apocalypse survival kit. We put a little disclaimer in the ad that says non-negotiable and we would never have a deficit again. It is the perfect plan, and the faux whores would peddle it to their own mothers.
 
Well how about a 2 trillion dollar coin then?

I prefer the helix counterproposal of minting a septillion dollar coin. this would erase the deficit instantly, and I could finally realize my dream of seeing free ice cream Thursday added to the constitution.

right before the dollar ceased to be the global reserve currency, and instead became choice fuel for woodstoves, that is.
 
Here's public debt by different countries. List of countries by public debt - Wikipedia, the free encyclopedia

You can see that Canada’s debt under a Conservative government is moving down while US debt, under BHO and his czars, continues to grow.
Why? A few reasons.
1) Conservative party overall in Canada is roughly on par with the right side of the Democratic party in the US, with some caveats.
2) A lot of the budget hard work was done a decade back in Canada, led by a fellow named Paul Martin. First as Finance Minister and then as Prime Minister, starting back in the mid-90’s. (( http://blogs.usask.ca/the_bolt/images/canada_debt_vs_gdp.gif , Canada General government gross debt in percent of GDP )) The Conservative government did not get into power till some time in 2006 and even then was a minority government (meaning they had a lot less sway) for a number of years after that.
3) Notice in the chart above the large leap in debt vs GDP in 2008? And, in no small part because Canada regulation thwarted a lot of the housing bubble that struck the US, the 2008 recession has been much kinder on Canada’s economy and its government budget, those effects multiplying to make the debt vs GDP hit smaller and shorter.
4) The US’s debt vs GDP has largely stabilized, returning to somewhere around the pre-recession rates of rising.

See, that is the key here. Canada’s debt vs GDP was falling pre-recession and had been for about 12 years. Pre-recession in the US, for about 8 years, it had been rising. And the GOP still has not managed to shake from them the attitude and philosophies and policies that made it that way. Complete. Total. Denial.
You’ll note also that the US is getting up there with Portugal, Ireland and Greece. Did you vote for this?
If you voted Republican for POLTUS in 2000, 2004, 2008, or [yes, even] 2012 you did. If you did not realize that, you did a very poor job of reading the [not so] fine print.
As to public expenditures, if Canada is spending the money it is raising from taxes then it is preferable to borrowing it and getting trillions of dollars in debt.
You would think but try find someone billing themselves as “fiscally responsible” in Congress [publically] acknowledging that is nigh hopeless. :(
However if your point is that Canada is also over-governed, I would agree. There should be less in both countries.
A huge chunk of the problem is that when it comes down to the brass tacks of it very, very, very few people follow through on that. The vast majority that voice that really are talking about something else, using it as an excuse for an agenda that largely looks to and/or implies continuation and even deepening of the class hierarchy in this country [that undercuts the idea of a meritocracy].
 
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Why? A few reasons.
1) Conservative party overall in
Canada is roughly on par with the right side of the Democratic party in the US, with some caveats.
2) A lot of the budget hard work was done a decade back in Canada, led by a fellow named Paul Martin. First as Finance Minister and then as Prime Minister, starting back in the mid-90’s. (( http://blogs.usask.ca/the_bolt/images/canada_debt_vs_gdp.gif , Canada General government gross debt in percent of GDP )) The Conservative government did not get into power till some time in 2006 and even then was a minority government (meaning they had a lot less sway) for a number of years after that.
3) Notice in the chart above the large leap in debt vs GDP in 2008? And, in no small part because Canada regulation thwarted a lot of the housing bubble that struck the US, the 2008 recession has been much kinder on Canada’s economy and its government budget, those effects multiplying to make the debt vs GDP hit smaller and shorter.
4) The US’s debt vs GDP has largely stabilized, returning to somewhere around the pre-recession rates of rising.

See, that is the key here. Canada’s debt vs GDP was falling pre-recession and had been for about 12 years. Pre-recession in the US, for about 8 years, it had been rising. And the GOP still has not managed to shake from them the attitude and philosophies and policies that made it that way. Complete. Total. Denial.

If you voted Republican for POLTUS in 2000, 2004, 2008, or [yes, even] 2012 you did. If you did not realize that, you did a very poor job of reading the [not so] fine print.

You would think but try find someone billing themselves as “fiscally responsible” in Congress [publically] acknowledging that is nigh hopeless. :(

A huge chunk of the problem is that when it comes down to the brass tacks of it very, very, very few people follow through on that. The vast majority that voice that really are talking about something else, using it as an excuse for an agenda that largely looks to and/or implies continuation and even deepening of the class hierarchy in this country [that undercuts the idea of a meritocracy].

All that and you didn't even touch on the primary reasons Canada's debt is shrinking and they're able to fund their social welfare systems.

Small relative population and they sell A LOT of oil.

Class hierarchy is just another liberal construct used to divert and divide.

The current "hierarchy" is far better than to two class system Obama and the progressives support.
 
The US Treasury keeps printing and the private Corporation, the Federal Reserve Bank?, keeps buying. ) 0 % ( interest investments for a bank. Somethng smells like fish. China just closed a deal with Brazil to trade "reals" and "rinminbi" and use same for trade. Now that means Brazil's OIL will now not need dollars to go to China. Will that decrease demand for the US Dollar? Perhaps that will effect that 0 % interest. Don't you think? Would the Chinese prefer one trillion dollar US coins? For trade simplification. Even Brazil. Sounds like they prefer reals and renminbis for real money transactions. Does this lack of desirability of the US Dollar relate to interest rates, or not?
 
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