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Reverand Paul gives a sermon on the Book of Fiscal Conservatism

Spartacus FPV said:
So? Its still an answer to the challenge you posed. Moving goalposts shows a lack of integrity.
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So he asks a question about sovereign debt, you respond with a comment about Argentina's debt (which was not sovereign), and you claim he's moving the goalposts? You simply answered the question incorrectly.
 
Incisor said:
There's over $2.1T of corporate profits sitting in banks in socialist countries in Europe. When are they gonna trickle-down? The answer, of course, is never. Tax cuts were a false promise designed to trick the less bright into redistributing wealth to the top 1%.
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Every time I think of "trickle down economics" I get the mental picture of getting pissed on. I guess the analogy would be apt.
 
Geoist said:
Every time "trickle down economics" is mentioned I get the mental picture of getting pissed on. I guess the analogy would be apt.
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Whenever I hear it mentioned, it makes my eye twitch.
 
Beaudreaux said:
Fiscal Conservatism. One aspect of conservatism that Senator Rand Paul and I are in agreement upon. The Republicans are no better than the Democrats when it comes to spending and debt.

This is a 21 minute video, but if you care at all about the future of this country, and our children's future as well, then you should both watch this video, and then contact your Congressman/Senator to support Senator Paul's budget proposal.

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I like Rand Paul for a number of reasons, but this is one issue of many where I disagree with him (though I do love his calling out of Republican hypocrisy).

Private debt is the problem, not public debt

 
Geoist said:
I like Rand Paul for a number of reasons, but this is one issue of many where I disagree with him (though I do love his calling out of Republican hypocrisy).

Private debt is the problem, not public debt

...
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Really? Are we thuspothed to take thith guy theriosthly?

He sounds worse than Barney.
 
Critter7r said:
Really? Are we thuspothed to take thith guy theriosthly?

He sounds worse than Barney.
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Ah, so speech impediment = no brains.

Classy. :roll:
 
Critter7r said:
I tried to pair of with a Mike Tyson meme, but didn't have the time.

Sent from my SM-G360V using Tapatalk
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Go waste someone else's time.
 
Master PO said:
still befuddled are you JohnfrmClevelan?
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Not at all. Do you not understand the difference between debt in your own currency and debt in a foreign currency?

Also, you can answer the question I posed to you anytime.
 
Spartacus FPV said:
So? Its still an answer to the challenge you posed. Moving goalposts shows a lack of integrity.
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And not understanding my answer shows a lack of intelligence.

If you don't know how deep the pool is, don't dive in head first.
 
Critter7r said:
So he asks a question about sovereign debt, you respond with a comment about Argentina's debt (which was not sovereign), and you claim he's moving the goalposts? You simply answered the question incorrectly.
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Actually it was sovereign debt. It was debt issued by Argentina in a specific currency. Argentina issued Peso at 1:1 parity to the dollar. The peso fell dramatically against the dollar to 4:1 causing major inflation and they'd couldn't issue Peso bonds to pay off it's dollar bonds.

But if you aren't happy with that.. here is a list of Sovereign Defaults since 1998.
 
JohnfrmClevelan said:
That debt was in foreign currency.

Now, answer your question, Po.
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Actually, that debt was issued in fix rate agreements. Meaning Argentina only had to issue more Pesos to buy the dollars to cover it.
 
JohnfrmClevelan said:
Not at all. Do you not understand the difference between debt in your own currency and debt in a foreign currency?

Also, you can answer the question I posed to you anytime.
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Apparently you don't understand it either. The type of currency issued doesn't matter as the country can issue it's own currency and exchange it for the currency they need to pay it off. But that doesn't happen because something you MMTers don't get, is it causes massive inflation like it did in Argentina.
 
Critter7r said:
So he asks a question about sovereign debt, you respond with a comment about Argentina's debt (which was not sovereign), and you claim he's moving the goalposts? You simply answered the question incorrectly.
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What are you talking about? I never said anything about Argentina's debt. Please, cite the post, I dare you, else retract your statement since you're the one who is incorrect.
 
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JohnfrmClevelan said:
And not understanding my answer shows a lack of intelligence.
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:roll:

You can't even follow basic conversation, he gave the answer not you. You posed the challenge, he answered it. There wasn't anything to not understand about your complete failure.
 
Spartacus FPV said:
What are you talking about, I never said anything about Argentina's debt?
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My bad, i thought that was a response from Austrian ... however, the comment is still valid. JFC's question was about sovereign debt, the response was about non-sovereign debt. There wasn't any goalpost moving on JFC's part.

Sent from my SM-G360V using Tapatalk
 
austrianecon said:
Apparently you don't understand it either. The type of currency issued doesn't matter as the country can issue it's own currency and exchange it for the currency they need to pay it off. But that doesn't happen because something you MMTers don't get, is it causes massive inflation like it did in Argentina.
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Not all countries can do that, however. Many of the nations in the European Union cannot, like Greece.
 
Incisor said:
The Federal Debt has little-to-no impact on the economy. Unlike personal debt, federal debt does not need to be paid back. The only thing federal debt affects is borrowing rates for the government, and even with debt as high as it is, borrowing rates are low. Now is the time to borrow to rebuild infrastructure or upgrade our power grid.
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Federal debt does need to be paid.
 
JohnfrmClevelan said:
Not at all. Do you not understand the difference between debt in your own currency and debt in a foreign currency?

Also, you can answer the question I posed to you anytime.
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you posed no question to me.

my question has been simple if debt does not matter, why do we have taxation and overhead of such a system, why are we sending people to jail over something which is not needed.

you failed to answer that!
 
Master PO said:
my question has been simple if debt does not matter, why do we have taxation and overhead of such a system, why are we sending people to jail over something which is not needed.!
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Because people need to get paid, because materials and supplies need to be purchased, because there needs to be administration of those things.

Who is being sent to jail?
 
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