shabby

Democrats v**e for wh**ever O throws out there. He is Democrat. Of course he will accomplish anything he wants. They v**e along party lines.

MarvinSussman

Q1: Is our so-called “national debt” really a serious debt, an interest-bearing burden that we must repay?
A1: No, It lacks the two essential qualities of a serious debt. It’s a “Debt In Name Only”, a “DINO” -

1. A really serious debt is a burden. Our DINO is not now and never will be a burden for taxpayers.

Our DINO is the total value of all issued and still maturing treasuries. Who pays for the redemption of mature treasuries? Not the taxpayers! The buyers of newly-issued treasuries pay for the redemption of mature treasuries. In every auction, more bonds are demanded than are available from new issues. Auction winners get the safest, most liquid US dollar instruments; the losers are stuck with bank risk. If necessary, the Fed could even create a demand for bonds by buying large quantities in the open market with a few cost-free keystrokes. Where’s the taxpayers’ burden?

Our Treasury does not borrow money like a home-buyer undertaking a mortgage. It is a custodian of funds, like a bank accepting money offered for certificates of deposit. While a bank with too many bad loans can certainly have too many maturing CDs, our non-lending, fiat Treasury cannot have too many maturing bonds unless its deficit spending is causing harmful inflation. And that happens ONLY in a war or emergency requiring rationing. It NEVER happens during a recession. During prosperity, banks are ALWAYS the SOLE cause of inflation, creating over $6 of credit for every $1 of deficit spending. To curb inflation, don’t restrict infrastructure spending for the future! Regulate the banks!

By calling our DINO “unsustainable”, a h**x meant to privatize Social Security and Medicare, Wall Street con artists seeking a fortune in commissions have panicked the ignorant public, journalists, and politicians in Congress and in the White House. And, by bribing Congress into austerity, the Wall Street charlatans are nursing a huge army of unemployed labor to suppress the wages and working conditions of the middle class. As our rotting infrastructure renders our industry incompetent, it is that growing army of unemployed labor that will become “unsustainable”.

2. A really serious debt must be repaid. Our DINO will never be repaid and should never be repaid.

Only a budget surplus can reduce our DINO. Since dropping the gold standard in1971, we have rarely had even a modest budget surplus. None is now in sight. To supply enough treasuries, the ONLY risk-free instruments used for trade collateral, insurance, pensions, bank reserves, etc., our Dino must continue to grow along with our economy. In fact, deflation and then depression will hit us hard unless big budget deficits replace the cash now flowing into China.

Q2: Could savers make a “run” on Treasury bonds?
A2: Yes, when savers can get risk-free returns from the Wall Street casino or from GM bonds, Illinois bonds, or Detroit bonds. Safety is not everything. Safety is the ONLY thing! That’s why the whole world relies on US bonds.

Q3. Could savers stop buying Treasury bonds?
A3. Sure, when nobody needs risk-free interest for trade collateral, insurance, pensions, bank reserves, etc., etc.

Q4: Could savers prefer foreign sovereign bonds?
A4: Yes, indeed! So far, almost two thirds of the world’s reserve currencies are in US dollars and half of all US Treasury bonds are held by foreigners. But if China’s infrastructure and productivity become better than ours, its sovereign bonds could become safer than ours. But that could happen only if US v**ers worry more about our DINO than they worry about our falling bridges, failing schools, leaking sewers, aging power grids, etc., etc.

MarvinSussman

Q1: Is our so-called “national debt” really a serious debt, an interest-bearing burden that we must repay?
A1: No, It lacks the two essential qualities of a serious debt. It’s a “Debt In Name Only”, a “DINO” -

1. A really serious debt is a burden. Our DINO is not now and never will be a burden for taxpayers.

Our DINO is the total value of all issued and still maturing treasuries. Who pays for the redemption of mature treasuries? Not the taxpayers! The buyers of newly-issued treasuries pay for the redemption of mature treasuries. In every auction, more bonds are demanded than are available from new issues. Auction winners get the safest, most liquid US dollar instruments; the losers are stuck with bank risk. If necessary, the Fed could even create a demand for bonds by buying large quantities in the open market with a few cost-free keystrokes. Where’s the taxpayers’ burden?

Our Treasury does not borrow money like a home-buyer undertaking a mortgage. It is a custodian of funds, like a bank accepting money offered for certificates of deposit. While a bank with too many bad loans can certainly have too many maturing CDs, our non-lending, fiat Treasury cannot have too many maturing bonds unless its deficit spending is causing harmful inflation. And that happens ONLY in a war or emergency requiring rationing. It NEVER happens during a recession. During prosperity, banks are ALWAYS the SOLE cause of inflation, creating over $6 of credit for every $1 of deficit spending. To curb inflation, don’t restrict infrastructure spending for the future! Regulate the banks!

By calling our DINO “unsustainable”, a h**x meant to privatize Social Security and Medicare, Wall Street con artists seeking a fortune in commissions have panicked the ignorant public, journalists, and politicians in Congress and in the White House. And, by bribing Congress into austerity, the Wall Street charlatans are nursing a huge army of unemployed labor to suppress the wages and working conditions of the middle class. As our rotting infrastructure renders our industry incompetent, it is that growing army of unemployed labor that will become “unsustainable”.

2. A really serious debt must be repaid. Our DINO will never be repaid and should never be repaid.

Only a budget surplus can reduce our DINO. Since dropping the gold standard in1971, we have rarely had even a modest budget surplus. None is now in sight. To supply enough treasuries, the ONLY risk-free instruments used for trade collateral, insurance, pensions, bank reserves, etc., our Dino must continue to grow along with our economy. In fact, deflation and then depression will hit us hard unless big budget deficits replace the cash now flowing into China.

Q2: Could savers make a “run” on Treasury bonds?
A2: Yes, when savers can get risk-free returns from the Wall Street casino or from GM bonds, Illinois bonds, or Detroit bonds. Safety is not everything. Safety is the ONLY thing! That’s why the whole world relies on US bonds.

Q3. Could savers stop buying Treasury bonds?
A3. Sure, when nobody needs risk-free interest for trade collateral, insurance, pensions, bank reserves, etc., etc.

Q4: Could savers prefer foreign sovereign bonds?
A4: Yes, indeed! So far, almost two thirds of the world’s reserve currencies are in US dollars and half of all US Treasury bonds are held by foreigners. But if China’s infrastructure and productivity become better than ours, its sovereign bonds could become safer than ours. But that could happen only if US v**ers worry more about our DINO than they worry about our falling bridges, failing schools, leaking sewers, aging power grids, etc., etc.

Confused

The numbers are so cute . I guess the adding of 5 trillion to the debt doesn't really count . It's the % right ? Here's another number for you ; Tax loopholes are $ 2.8 trillion a year . THAT is 40 % of the revenue .

MarvinSussman

Q1: Is our so-called “national debt” really a serious debt, an interest-bearing burden that we must repay?
A1: No, It lacks the two essential qualities of a serious debt. It’s a “Debt In Name Only”, a “DINO” -

1. A really serious debt is a burden. Our DINO is not now and never will be a burden for taxpayers.

Our DINO is the total value of all issued and still maturing treasuries. Who pays for the redemption of mature treasuries? Not the taxpayers! The buyers of newly-issued treasuries pay for the redemption of mature treasuries. In every auction, more bonds are demanded than are available from new issues. Auction winners get the safest, most liquid US dollar instruments; the losers are stuck with bank risk. If necessary, the Fed could even create a demand for bonds by buying large quantities in the open market with a few cost-free keystrokes. Where’s the taxpayers’ burden?

Our Treasury does not borrow money like a home-buyer undertaking a mortgage. It is a custodian of funds, like a bank accepting money offered for certificates of deposit. While a bank with too many bad loans can certainly have too many maturing CDs, our non-lending, fiat Treasury cannot have too many maturing bonds unless its deficit spending is causing harmful inflation. And that happens ONLY in a war or emergency requiring rationing. It NEVER happens during a recession. During prosperity, banks are ALWAYS the SOLE cause of inflation, creating over $6 of credit for every $1 of deficit spending. To curb inflation, don’t restrict infrastructure spending for the future! Regulate the banks!

By calling our DINO “unsustainable”, a h**x meant to privatize Social Security and Medicare, Wall Street con artists seeking a fortune in commissions have panicked the ignorant public, journalists, and politicians in Congress and in the White House. And, by bribing Congress into austerity, the Wall Street charlatans are nursing a huge army of unemployed labor to suppress the wages and working conditions of the middle class. As our rotting infrastructure renders our industry incompetent, it is that growing army of unemployed labor that will become “unsustainable”.

2. A really serious debt must be repaid. Our DINO will never be repaid and should never be repaid.

Only a budget surplus can reduce our DINO. Since dropping the gold standard in1971, we have rarely had even a modest budget surplus. None is now in sight. To supply enough treasuries, the ONLY risk-free instruments used for trade collateral, insurance, pensions, bank reserves, etc., our Dino must continue to grow along with our economy. In fact, deflation and then depression will hit us hard unless big budget deficits replace the cash now flowing into China.

Q2: Could savers make a “run” on Treasury bonds?
A2: Yes, when savers can get risk-free returns from the Wall Street casino or from GM bonds, Illinois bonds, or Detroit bonds. Safety is not everything. Safety is the ONLY thing! That’s why the whole world relies on US bonds.

Q3. Could savers stop buying Treasury bonds?
A3. Sure, when nobody needs risk-free interest for trade collateral, insurance, pensions, bank reserves, etc., etc.

Q4: Could savers prefer foreign sovereign bonds?
A4: Yes, indeed! So far, almost two thirds of the world’s reserve currencies are in US dollars and half of all US Treasury bonds are held by foreigners. But if China’s infrastructure and productivity become better than ours, its sovereign bonds could become safer than ours. But that could happen only if US v**ers worry more about our DINO than they worry about our falling bridges, failing schools, leaking sewers, aging power grids, etc., etc.

Confused

That's right , here comes the mud in the water . Hoover , Bush , blah , blah , blah . Did Hoover sell military grade weapons , including surface to air missiles , to Syria via Libya . Did Bush give Solyndra $ 546 million ? The ONLY contract Solyndra had were to subsidiaries of Solyndra . Talk about a house of cards . How many jobs did that create ?
I guess your reasoning is Bush / Cheney lied so we should expect that from Obama . You will be in heaven if Hillary gets in office .
I thought the discussion started out with Obama's accomplishments and the lack thereof ?

nancyjess

let me ask you.. how does this president , accomplish all these things as for mentioned.... when we have house of reps, congress, senators all around him ? are they asleep at the wheel. if so they should all go... i am an independent .
and i keep up on all these topics.. We must v**e these people out of office.. all of them except for a handful.. should be locked up for ignoring the rights of the people who were elected to serve. a few are fighting.. from both sides... not enough, we need millions of us , TRUE AMERICANS. NOT LEFT OR RIGHT
JUST GOOD HARD AND TRUE AMERICANS TO START THE FIGHT OF OUR LIFE. TO SAVE THIS COUNTRY.. WILL SOMEONE STAND UP AND LEAD THE WAY..???????? EVERYTHING IS going to be taken from us.... our health... our childrens education is already in the works for corruption. our way of life has never been more divided.. Lets be that rainbow over our country... all colors all groups , we have to lead this country out of this path and back to our freedoms. lets go folks.

nancyjess

most agree with you... NOW WHAT ?

Raylan Wolfe Loc: earth

No Bush did not give Solyndra $546 milllion, but he did start a needless war with Iraq that cost us $2 trillion and 4000 US troops lives!

1OldGeezer

Raylan,
This is a long list of federal government expansion and placement of his czars into positions of authority. Also included is spending up the gazoo (stimulus and TARP) that did nothing except increase the federal debt. It also included an illegal government action that has simply resulted in an improper, illegal donation to a company (GM) of 10 billion taxpayer dollars. The company went bankrupt because for years it produced below standard automobiles, it should have gone through the legal bankruptcy courts and let the free market do its job properly without taxpayer (borrowed) money.

This is a list of SHAME, (the "progressives/marxist" DID give the president their support); thank god for the resistance of the sensible, constitution abiding people in congress!

Much more "success" by the Obama administration and we will have a new "normal" of more than half of the citizens on welfare, no jobs, but lots of cell phones.

By the way, this list of "successes" cost Obama and his friends $1.1 million dollars to compile and publish, well worth it to let us know the extent of the harm he doing to the country.

Keep up the good work.
1oldgeezer

shabby

I think one way to start is parents to start home schooling their children. There are few I know that are doing that and if you could get lots of people doing that we might have a decent future. Parents have the right to know what is being taught. They are trying to brain wash them from kindergarten.

Alicia Loc: NYC

Thank you for registering this site on this forum. I will forward it as well as keep it in my own archives.

It's too bad that whose Reps who are not affected financially ARE affected by the emotional propaganda that is so prevalent. I wish they would look into what Richard Berman is doing to their guts and the methods he is using. (Article on Alternet for today.) But then, of course, they will not admit to being so influenced.

Confused

And how is that relevant to your original post ?
If Bush and Obama aren't enough to give rise to a strong Independent party then I don't know what is ...
Bush also is responsible for the explosion of tax loopholes and nobody seems to have the guts enough to end them .
Remember when he and his numbers man , Mitch Daniels , were going to pay off the national debt ?

Alicia Loc: NYC

I love his sense of humor along with his style. He has a background and youth on his side.

Because of the many trips to foreign countries, he has improved relations globally (a hard job after the last pres.). These "trips" are negatively commented upon by his attackers and listed as "vacations."

Liberty Tree

He had a koolaid drinking lapdog Congress, so what is so great about that?