Pocahontas Warren's plan to spend America into peace, prosperity and happiness for all

[Beowulf]

If everybody counterfeited what they thought was a ton of money, no, they wouldn't grow food. Because growing food is work, and they no longer need to earn their money.

Same stupid argument as, "If the govt. can create money for free, why don't they just make us all millionaires?"

That's a good question. Why don't they?

You should. You should feel sorry for anyone who has to lead you through even the simplest of explanations, because you are aggravatingly slow to catch on.



Gold and silver were just durable and easily tradable commodities. They were still just representations of real money.

Money is a transferable debt instrument. There were simple debt records before anybody bothered to make gold or silver coins.

So we can make as many of these here transferable debt instruments as we want. I say everybody gets 1,000,000,000 of them.

 

[JohnfrmClevelan]

That's a good question. Why don't they?

Because demand would outstrip the economy's ability to meet that demand.

So we can make as many of these here transferable debt instruments as we want. I say everybody gets 1,000,000,000 of them.

Great. Then everybody can be in $1,000,000,000 of debt, too. That's how transferable debt instruments work.

If you can't come up with a real question soon, I'm done with you.

 

[Beowulf]

Because demand would outstrip the economy's ability to meet that demand.

Supply and demand always balance. It's economics.

Great. Then everybody can be in $1,000,000,000 of debt, too. That's how transferable debt instruments work.

If you can't come up with a real question soon, I'm done with you.

A dollar isn't a debt instrument.

 

[Outlook]

The US government has already defaulted. In 1971.

The US has defaulted on their debt once. In 1979 it postponed sending some of the checks on time for technical reasons.

 

[Beowulf]

The US has defaulted on their debt once. In 1979 it postponed sending some of the checks on time for technical reasons.

In 1971 the US government refused to pay its debts in gold. Look it up. It's called "closing the gold window".

 

[Outlook]

In 1971 the US government refused to pay its debts in gold. Look it up. It's called "closing the gold window".

I did
The only default on debt was in 1979.

 

[JohnfrmClevelan]

Supply and demand always balance. It's economics.

So is inflation. An economy does not have an infinite ability to grow. Real resources are limited.

A dollar isn't a debt instrument.

Yes it is. Every bank-created dollar is backed by an open loan. Every government-created dollar is backed by a government bond. Private sector debt matters; government debt, not so much.

 

[Outlook]

LOL! Yes, they did, despite your dishonesty about it.

Yet again you have no idea what you're braying about, so why continue to bray? What's the point?

Presidential Tax Returns | Presidential Candidates Taxes - Tax Notes

1913 is completely irrelevant to anything I've posted.

Please try harder.

The following is from your own link, which apparently failed to read.

The archive includes returns filed by Franklin D. Roosevelt and Harry Truman. Those returns weren’t released during either president’s lifetime, but were later made available by their respective presidential libraries.

The tradition of voluntary tax return disclosure began with a scandal. In 1973 journalists discovered information suggesting that President Richard Nixon had taken large, hard-to-defend deductions on his individual tax returns.
To help quell the ensuing uproar — which occasioned Nixon’s oft-quoted insistence that “I am not a crook” — the president decided to make a public release of his tax returns for 1969, 1970, 1971, and 1972.

Ford, Nixon’s vice president, didn’t release complete tax returns after taking office in the wake of Nixon’s resignation. Ford released a nine-year summary of his tax data when running for president in 1975 and 1976. But starting with Carter, every president through Obama has made an annual disclosure of the tax return he filed during each year in which he held office.

Talk about dishonest. FDR and Truman released their tax returns. Oops I forgot to mention they were released after they left office and died.
They were given to their presidential libraries.
LOL for a long time.
Next read your link and you won't look as foolish.

 

[Beowulf]

I did
The only default on debt was in 1979.

Are you unaware of Nixon's closing of the gold window?

 

[JohnfrmClevelan]

In 1971 the US government refused to pay its debts in gold. Look it up. It's called "closing the gold window".

Gold was only used to settle up international trade imbalances. Americans were not able to convert dollars to gold for many years before 1971.

And guess what? It made no difference. The value of the dollar didn't drop to nothing. Everything was fine.

 

[Outlook]

We should take advantage of their largess and gifts. Cheap stuff is great!

yea cheap stuff is great, but what would a caring compassionate very liberal person say to the guy and his family that lost his manufacturing job because China can make the stuff cheaper.

 

[Outlook]

I'm saying I like cheap stuff

Because they sell it for less?

How are they able to sell it for less?

 

[Beowulf]

Yes it is. Every bank-created dollar is backed by an open loan. Every government-created dollar is backed by a government bond. Private sector debt matters; government debt, not so much.

So if I have a dollar, who owes me? And what do they owe me?

 

[Beowulf]

yea cheap stuff is great, but what would a caring compassionate very liberal person say to the guy and his family that lost his manufacturing job because China can make the stuff cheaper.

To not be in manufacturing.

 

[Beowulf]

How are they able to sell it for less?

They ask less money for it.

 

[JohnfrmClevelan]

So if I have a dollar, who owes me? And what do they owe me?

Nobody owes you. A dollar in your hand is an asset, just like your account balance is an asset. But somewhere, somebody owes on an open loan.

Financial assets = financial liabilities, always.

 

[Brochacholomigo]

Marke is a Christian? :shock:

I honestly can't fathom why you would think he's not a Christian.

 

[Beowulf]

Nobody owes you. A dollar in your hand is an asset, just like your account balance is an asset. But somewhere, somebody owes on an open loan.

Financial assets = financial liabilities, always.

So a dollar is not, as you said earlier, a debt instrument?

 

[JohnfrmClevelan]

So a dollar is not, as you said earlier, a debt instrument?

OK, so you don't understand money. Got it.

Maybe you should just lurk on this forum until you learn more...

 

[Phys251]

I honestly can't fathom why you would think he's not a Christian.

Didn't know him well.

 

[Beowulf]

OK, so you don't understand money. Got it.

Maybe you should just lurk on this forum until you learn more...

So are you saying that a dollar a debt instrument or not?

 

[bongsaway]

How much is Elizabeth Warren proposing to spend to finally make America a great nation? Here are some numbers totaling ten year costs to fund her proposals:

1. Green New Deal - $94 trillion.
2. Medicare for all - $32.6 trillion.
3. Dealing with opioids - $700 billion.
4. Cancelling student debt and offering free college - min. of $1.25 trillion.
5. Universal child care - $700 billion.
6. Reparations for slavery - $trillions?.
7. Food, shelter, clothing, hospital care, schooling and other expenses for aliens not allowed to work in the US - $more trillions?
8. Hiring thousands of new government officials to handle skyrocketing cases of illegal immigration, lawsuits agaisnst cops, and investigations into republican congressmen for every little hint of a misdemeanor - $ more billions?

There is no limit to how much Pocahontas is willing to spend since it is not her money she will be spending (her money is hidden in carefully crafted overseas tax-exempt democrat foundations.)

She plays to the general ignorance of the common voter by claiming the rich will be paying for the extravagant budget-smashing wild and crazy unrestrained government spending.

For all those on the right who say trump's rhetoric has nothing to do with the way people act. Take notice even on here the exact same words trump uses, marke is using.

And you can thank trump for all the spending and his republican cohorts who helped pass the tax cut.

 

[Beowulf]

For all those on the right who say trump's rhetoric has nothing to do with the way people act. Take notice even on here the exact same words trump uses, marke is using.

And you can thank trump for all the spending and his republican cohorts who helped pass the tax cut.

The executive branch doesn't spend. The legislative branch spends. The executive branch merely executes the legislation enacted by congress.

 

[bongsaway]

The executive branch doesn't spend. The legislative branch spends. The executive branch merely executes the legislation enacted by congress.

It's why I mentioned his cohorts, meaning congress.

 

[Beowulf]

It's why I mentioned his cohorts, meaning congress.

Ah, so you're unhappy with our representative and/or senators. I hear ya.