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Author Topic:   The Giant Pool Of Money. Implications
xongsmith
Member
Posts: 1763
From: massachusetts US
Joined: 01-01-2009
Member Rating: 3.2


Message 256 of 263 (803715)
04-03-2017 10:13 PM
Reply to: Message 255 by crashfrog
04-03-2017 10:04 PM


Crashfrog!
Welcome back!

- xongsmith, 5.7d

This message is a reply to:
 Message 255 by crashfrog, posted 04-03-2017 10:04 PM crashfrog has responded

Replies to this message:
 Message 257 by crashfrog, posted 04-03-2017 10:19 PM xongsmith has acknowledged this reply

    
crashfrog
Inactive Member


Message 257 of 263 (803716)
04-03-2017 10:19 PM
Reply to: Message 256 by xongsmith
04-03-2017 10:13 PM


Re: Crashfrog!
I'm not here to stay, just thought I'd check in, maybe hang for a day or two. I'm active on Twitter and Reddit, though.
This message is a reply to:
 Message 256 by xongsmith, posted 04-03-2017 10:13 PM xongsmith has acknowledged this reply

  
Phat
Member
Posts: 9284
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.8


Message 258 of 263 (803756)
04-04-2017 12:31 PM
Reply to: Message 255 by crashfrog
04-03-2017 10:04 PM


Re: Aberration Period
I used to believe the gold bugs and the predictions that they had for the economy. Now, I'll honestly admit I have no clue what will happen except that I now know (or at least believe) that debt is part of the whole game. The Fed seems to think they can control things, but I'm not convinced that inflation may not yet make a return.

How have you been, crashfrog? I'm glad you stopped by! Yes, you told me so....and maybe you have a prediction for the next five years.....

Edited by Phat, : No reason given.


Chance as a real force is a myth. It has no basis in reality and no place in scientific inquiry. For science and philosophy to continue to advance in knowledge, chance must be demythologized once and for all. RC Sproul
"A lie can travel half way around the world while the truth is putting on its shoes." Mark Twain "
~"If that's not sufficient for you go soak your head."~Faith
"as long as chance rules, God is an anachronism."~Arthur Koestler

This message is a reply to:
 Message 255 by crashfrog, posted 04-03-2017 10:04 PM crashfrog has not yet responded

  
Phat
Member
Posts: 9284
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.8


Message 259 of 263 (804420)
04-09-2017 11:56 AM
Reply to: Message 14 by Phat
10-07-2010 8:02 AM


Re: The American Mindset

Does anyone have an opinion on the probability that this debt will
1) Ever be repaid?
2) Need to be repaid or refinanced?
3)Is harmful for future growth?


Chance as a real force is a myth. It has no basis in reality and no place in scientific inquiry. For science and philosophy to continue to advance in knowledge, chance must be demythologized once and for all. RC Sproul
"A lie can travel half way around the world while the truth is putting on its shoes." Mark Twain "
~"If that's not sufficient for you go soak your head."~Faith
"as long as chance rules, God is an anachronism."~Arthur Koestler

This message is a reply to:
 Message 14 by Phat, posted 10-07-2010 8:02 AM Phat has not yet responded

Replies to this message:
 Message 260 by 14174dm, posted 04-09-2017 2:12 PM Phat has acknowledged this reply
 Message 261 by ringo, posted 04-09-2017 2:19 PM Phat has responded

  
14174dm
Member
Posts: 110
Joined: 10-12-2015
Member Rating: 3.9


Message 260 of 263 (804431)
04-09-2017 2:12 PM
Reply to: Message 259 by Phat
04-09-2017 11:56 AM


Re: The American Mindset
My opinion:
1. Yes it will be repaid as so much is held by pension plans, 401k, and other wide spread funds that most Americans hold some of the debt whether they know it or not.
2. Repaid - yes. If the federal government defaults once, future borrowing will cost more as part of the risk/reward balance in determining rates. Refinanced - no most of the recent debt was at historically low rates that I doubt will get better.
3. Yes the growing debt is definitely harmful. The current debt consumes something like 14% (from memory) of all federal spending (incl Social Security & Medicare) and something like 25% of the federal budget outside the self funding Social Security & Medicare. Unless the federal budget is balanced (cut spending and/or raise taxes), that percentage will continue to grow until essentially all that is left is tax collection & debt repayment as a federal budget. Meanwhile the higher tax rates will stifle the economy and needed services (law enforcement, courts, infrastructure, education, etc.) will be abandoned.

But that's the future and the voters believe the political promises so nothing changes.


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 Message 259 by Phat, posted 04-09-2017 11:56 AM Phat has acknowledged this reply

    
ringo
Member
Posts: 12925
From: frozen wasteland
Joined: 03-23-2005
Member Rating: 2.8


Message 261 of 263 (804434)
04-09-2017 2:19 PM
Reply to: Message 259 by Phat
04-09-2017 11:56 AM


Re: The American Mindset
Generally speaking, lenders are more interested in having a constant income stream from the vigorish interest than in having the principal repaid.
This message is a reply to:
 Message 259 by Phat, posted 04-09-2017 11:56 AM Phat has responded

Replies to this message:
 Message 262 by Phat, posted 04-09-2017 3:01 PM ringo has responded

  
Phat
Member
Posts: 9284
From: Denver,Colorado USA
Joined: 12-30-2003
Member Rating: 1.8


Message 262 of 263 (804442)
04-09-2017 3:01 PM
Reply to: Message 261 by ringo
04-09-2017 2:19 PM


Re: The American Mindset
Don't we the people have a say in all this? Is there a difference ideologically between how conservatives in general view the debt vs moderate/liberals in general?

Does one group profit more from the debt itself while the other group needs the government services more?


Chance as a real force is a myth. It has no basis in reality and no place in scientific inquiry. For science and philosophy to continue to advance in knowledge, chance must be demythologized once and for all. RC Sproul
"A lie can travel half way around the world while the truth is putting on its shoes." Mark Twain "
~"If that's not sufficient for you go soak your head."~Faith
"as long as chance rules, God is an anachronism."~Arthur Koestler

This message is a reply to:
 Message 261 by ringo, posted 04-09-2017 2:19 PM ringo has responded

Replies to this message:
 Message 263 by ringo, posted 04-09-2017 3:17 PM Phat has acknowledged this reply

  
ringo
Member
Posts: 12925
From: frozen wasteland
Joined: 03-23-2005
Member Rating: 2.8


(3)
Message 263 of 263 (804444)
04-09-2017 3:17 PM
Reply to: Message 262 by Phat
04-09-2017 3:01 PM


Re: The American Mindset
Phat writes:

Is there a difference ideologically between how conservatives in general view the debt vs moderate/liberals in general?


This is an over-simplification but: Right-wingers tend to see government like a business whereas left-wingers see it more like a family.

In a business you're only concerned about the bottom line. If you're not making (enough) money, you can just shut the business down and go elsewhere.

In a family you do what needs doing, no matter what it costs. If you have to run up a crippling debt to get healthcare for the kids, you do it. You can't escape family.


This message is a reply to:
 Message 262 by Phat, posted 04-09-2017 3:01 PM Phat has acknowledged this reply

  
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