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President Obama: There Is No Debt Crisis - Yahoo! News
From Yahoo! News: There has been no shortage of dire warnings about the mounting US national debt, but President Obama is now offering a different assessment: no big deal. “We don’t have an immediate crisis in terms of debt,” President Obama said in an exclusive interview with George...
news.yahoo.com LonestarAg_10
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BamaLivesFootba ●
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LonestarAg_10
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LonestarAg_10 said...
No offense but i was kind of hoping for input from people with a little more understanding of the situation. You clearly have disregarded the effects of compound interest in your assessment.
Unaccredited Junior College diplomas and all aside, thanks though for your thoughts.
Anyone else?
This post was edited by BamaLivesFootba on 3/13/2013 at 4:07 PM
"A political call, the fall guy accord...We can't afford to be neutral on a moving train..."
BamaLivesFootba ●
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LonestarAg_10 said...
No offense but i was kind of hoping for input from people with a little more understanding of the situation. You clearly have disregarded the effects of compound interest in your assessment.
Unaccredited Junior College diplomas and all aside, thanks though for your thoughts.
Anyone else?
WillieMuffcramp ●
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MrWoodson ●
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LonestarAg_10
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BamaLivesFootba ●
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LonestarAg_10 said...
1) We are spending 3x times more per month than we are taking in. Its pretty damn clear we have a fiscal crisis.
We no longer speak in terms of reducing true deficits but rather in terms of having a deficit less than the year before; yes we have a problem.
The largest holder of US Treasuries is China who is close to a bust in their construction bubble; yes this is a clear and present danger.
As I said you clearly lack the peripheral focus to understand the situation.
I recommend you read Micheal Lewis' Boomerang. It might help or maybe you can write a book report on it in your 300 level international financial markets class.
"A political call, the fall guy accord...We can't afford to be neutral on a moving train..."
BamaLivesFootba ●
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MrWoodson ●
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LonestarAg_10 said...
We are spending 3x times more per month than we are taking in. Its pretty damn clear we have a fiscal crisis.
We no longer speak in terms of reducing true deficits but rather in terms of having a deficit less than the year before; yes we have a problem.
The largest holder of US Treasuries is China who is close to a bust in their construction bubble; yes this is a clear and present danger.
As I said you clearly lack the peripheral focus to understand the situation.
I recommend you read Micheal Lewis' Boomerang. It might help or maybe you can write a book report on it in your 300 level international financial markets class.
Thanks again though I get off work at 6:30 I will be ready then if you have any further questions.
This post was edited by kitemac on 3/13/2013 at 4:30 PM
kitemac
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MrWoodson said...
You see how that graph goes both up and down? Well, when it starts going up again (and it will), we are going to be effed. Every 1% increase in the treasury rate eats up an additional $160 billion of your hard earned tax dollars, or about 10% of the annual budget. We don't need Washington to cut the budget. The international capital markets are going to do it for them. Wait and see.
"A political call, the fall guy accord...We can't afford to be neutral on a moving train..."
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Keith Niebuhr ●
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BamaLivesFootba said...
1) Not true depending on the month. Averaged out, then yes.
2) Deficits have been falling every year and are projected to until 2019 sans any deficit reduction (which clearly there will be)
3) No. The US is the largest holder of US Treasuries by a LARGE amount.
1.) great so some months we are only spending 2.8x more than we bring in (by the way you should go into politics you are really good at pointing to outliers to the ignorant masses)
2.)Projected? Clearly because math proves our 2% reduction in spending over the coming decade (from sequester) will zero our books.. right
how about that whole kicking the can down the road thing? maybe another eleventh hour fiscal cliff deal with no spending cuts will tickle your pickle. Grow up kid.
3.) yes we are the largest holders simply because the Fed i.e. Bernanke has the ability to print and call back bonds as needed. In that since we have more or less an infinite amount. China holds the largest amount of finite T-bills and T-bonds; not domestic.
FYI that is a cute 10-year treasury graph you posted there. You do realize the T-bond dips when there is a large supply of cash being pumped into the banking system (QE3). While more money is available to lend basic commodity price will rise right?
But hey you clearly knew all this already correct?
Will be waiting on that witty retort coming laced with big words from that pocket dictionary you carry around with you to Starbucks.
I will give you a head start... Maybe look in the department of numbers and aggregate your own conclusions or retort rather than recite what some prof or pundit told you.
This post was edited by LonestarAg_10 on 3/13/2013 at 4:42 PM
LonestarAg_10
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LonestarAg_10 said...
No offense but i was kind of hoping for input from people with a little more understanding of the situation. You clearly have disregarded the effects of compound interest in your assessment.
Unaccredited Junior College diplomas and all aside, thanks though for your thoughts.
Anyone else?
DrStache ●
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LonestarAg_10
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kitemac said...
All this is a little over my head since I don't really pay attention to it but chill with the personal attacks. You presented things to him. No need to act like he is dumb even if you think he is. Have some respect for his opinion or ignore his posts.
This is to everyone: I'm getting real tired of posters downgrading other posters for their opinions. Present your facts and debate in a respectful way or I will start to take action in these political and religious threads.
LonestarAg_10
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DrStache ●
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LonestarAg_10 said...
1.) great so some months we are only spending 2.8x more than we bring in (by the way you should go into politics you are really good at pointing to outliers to the ignorant masses)
2.)Projected? Clearly because math proves our 2% reduction in spending over the coming decade (from sequester) will zero our books.. right
how about that whole kicking the can down the road thing? maybe another eleventh hour fiscal cliff deal with no spending cuts will tickle your pickle. Grow up kid.
3.) yes we are the largest holders simply because the Fed i.e. Bernanke has the ability to print and call back bonds as needed. In that since we have more or less an infinite amount. China holds the largest amount of finite T-bills and T-bonds; not domestic.
FYI that is a cute 10-year treasury graph you posted there. You do realize the T-bond dips when there is a large supply of cash being pumped into the banking system. While more money is available to lend basic commodity price will rise right?
But hey you clearly knew all this already correct?
Will be waiting on that witty retort coming laced with big words from that pocket dictionary you carry around with you to Starbucks.
I will give you a head start... Maybe look in the department of numbers and aggregate your own conclusions or retort rather than recite what some prof or pundit told you.
kitemac
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kitemac
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Tidepride30 said...
Is this a new rule? Cause it hasn't been applied much at all in a while.
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LonestarAg_10
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Apparently there is no debt crisis