Author Topic: more bad economic news  (Read 5137 times)

Online Solar

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Re: more bad economic news
« Reply #45 on: March 03, 2012, 01:07:18 PM »
See my earlier post, doofus.  Take it down yourself if you don't like it. 
You have two options, either admit it was pure BS, or take a vacation from posting here for an indeterminate amount of time.

You see, nearly half of your very posts are insults based on lies, like claiming to be a Conservative, then turn around and call someone a consevatard.

You were asked to knock it off, then warned.
If you can't be honest when posting like the rest of us, I see no reason you should continue to have the privilege of posting.

Make your choice wisely, no one will mock you if you do the right thing.


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Offline mdgiles

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Re: more bad economic news
« Reply #46 on: March 03, 2012, 01:19:14 PM »
Those "paper IOUs" are US Government Bonds.  Considered the safest investment known to man by any credible financial adviser.  If they're just paper IOUS, what does that make common stocks?

When receipts exceeded outgo, the receipts needed to be invested.  They were invested in USG bonds.  That meant the USG had funds to use that would later have to be retired with taxes, of course, but the alternative wss to levy taxes now or do without whatever was procured.  Some of what was procured during that time included national defense items, not the least of which was WWII.  Some of what was procured we probably would have been better off without. 

It is not a ponzi scheme.  USG bonds are not just paper IOUs.  You are merely parrotting fire breathers like the Rushman when you say stuff like that.
Those IOU's are SPECIAL Treasury Bonds. unlike other Government bonds they are NOT publicly traded. When a bond is not publicly trade you have no real idea of it's real value, only it's face value. What in effect has happened is that the government has take the actual money that came in, and issued an IOU to itself. A publicly traded bond carries with it an obligation to pay or face default. Default means the US would have difficulty drawing on world credit markets But these are privately held bonds owed to itself. It's as if you took ten dollars out of your wallet, and left an IOU to yourself. Suppose you don't pay, is your left half going to complain to everybody about your right half? The US owes on those SPECIAL Treasury bonds, in a situation where they already been told they owe no actual liability on them. They're just a bookkeeping fiction. Instead of the US saying it owes umpteen trillion dollars, it instead says it owes umpteen trillion dollars less the value of those paper assets. Having long since be told it doesn't have to pay anything. I can understand that when you get to be our ages the idea of Social Security simply ending, scares the hell out of you; but that's no reason to ignore the truth. The government could screw all senior citizens tomorrow, and legally there's not much those citizens could do about it other than vote those people out. And if you really want to see "Death Panels", start insisting that the entire US budget be used to pay off hordes of greedy geezers.
« Last Edit: March 03, 2012, 01:38:36 PM by mdgiles »
"LIBERALS: their willful ignorance is rivaled only by their catastrophic stupidity"!

Online walkstall

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Re: more bad economic news
« Reply #47 on: March 03, 2012, 01:20:56 PM »
You have two options, either admit it was pure BS, or take a vacation from posting here for an indeterminate amount of time.

You see, nearly half of your very posts are insults based on lies, like claiming to be a Conservative, then turn around and call someone a consevatard.

You were asked to knock it off, then warned.
If you can't be honest when posting like the rest of us, I see no reason you should continue to have the privilege of posting.

Make your choice wisely, no one will mock you if you do the right thing.

A politician thinks of the next election. A statesman, of the next generation.- James Freeman Clarke

Politics is supposed to be the second-oldest profession.  I have come to realize that it bears a very close resemblance to the first.  ~ Ronald Reagan ~

Always remember "Feelings Aren't Facts."

elmerfudd

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Re: more bad economic news
« Reply #48 on: March 03, 2012, 01:26:16 PM »
You have two options, either admit it was pure BS, or take a vacation from posting here for an indeterminate amount of time.

You see, nearly half of your very posts are insults based on lies, like claiming to be a Conservative, then turn around and call someone a consevatard.

You were asked to knock it off, then warned.
If you can't be honest when posting like the rest of us, I see no reason you should continue to have the privilege of posting.

Make your choice wisely, no one will mock you if you do the right thing.

Boot me, my thin skinned conservatard friend.  Permanently.

elmerfudd

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Re: more bad economic news
« Reply #49 on: March 03, 2012, 01:30:13 PM »
Those IOU's are SPECIAL Treasury Bonds. unlike other Government bonds they are NOT publicly trade. When a bond is not publicly trade you have no real idea of it's real value, only it's face value. What in effect has happened is that the government has take the actual money that came in, and issued an IOU to itself. A publicly traded bond carries wit it an obligation to pay or face default. Default means the US would have difficulty drawing on world credit markets But these are privately held bonds owed to itself. It's as if you took ten dollars out of your wallet, and left an IOU to yourself. Suppose you don't pay, is your left half going to complain to everybody about your right half? The US owes on those SPECIAL Treasury bonds, in a situation where they already been told they owe no actual liability on them. They're just a bookkeeping fiction. Instead of the US saying it owes umpteen trillion dollars, it instead says it owes umpteen trillion dollars less the value of those paper assets. Having long since be told it doesn't have to pay anything. I can understand that when you get to be our ages the idea of Social Security simply ending, scares the hell out of you; but that's no reason to ignore the truth. The government could screw all senior citizens tomorrow, and legally there's not much those citizens could do about it other than vote those people out. And if you really want to see "Death Panels", start insisting that the entire US budget be use to pay off hordes of greedy geezers.

It is virtually impossible to lift the veil of ignorance from people who are so bent on hanging on to it. 

Offline mdgiles

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Re: more bad economic news
« Reply #50 on: March 03, 2012, 01:43:26 PM »
It is virtually impossible to lift the veil of ignorance from people who are so bent on hanging on to it.
No answer to my post then, correct? I didn't think you could, for some reason, having seen the government screw up time and time again; and screw over people time and time again; some people simply refuse to believe the government would do that to their Social Security - un-freaking-believable.
"LIBERALS: their willful ignorance is rivaled only by their catastrophic stupidity"!

Online Solar

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Re: more bad economic news
« Reply #51 on: March 03, 2012, 01:45:24 PM »
Boot me, my thin skinned conservatard friend.  Permanently.
Your choice, though I see no reason to ban you, you just need a timeout like a child that continues to act up.
Enjoy your time off and maybe when you return you can act like an adult and post honestly.
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Offline Shooterman

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Re: more bad economic news
« Reply #52 on: March 03, 2012, 02:11:17 PM »
I think it is you that has misunderstood.  But I gotta go.  Average post count too high and got things to do.  No money was ever stolen, though.  That is a complete canard. 

Of course it was stolen, Elmer. Oh, a big deal was made about 'borrowing' the money from the trust fund, but if they never intended to pay it back, that is theft. It is similar to me loaning you money and then you telling me to see your grand kids for payment.
There's no ticks like Polyticks-bloodsuckers all Davy Crockett 1786-1836

Yankees are like castor oil. Even a small dose is bad.
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