DUMP TRUMP (previously 2020 candidates)
proeasdf said:
jimmurphy said:
drummerboy said:
As I'm trying to explain to these people, the government "printed" money to pay for this.
They did no such thing. We are indebted for it. The GDP to debt ratio has doubled in the last 10 years or so. If there comes a point where the dollar is not the reserve currency, we are screwed.
+10
It's not a matter of IF there comes a point where the dollar is not the reserve currency anymore, but WHEN. Lucky for us it may take a while, and then we"ll all be dead because of global warming anyway.
Klinker said:
I was talking about Trump because a vote for Biden is a vote for Trump. Biden is the one candidate who has no hope whatsoever of winning the General in 2020. The Dems would be better off nominating anyone else, even Klobberchowder.
So now the world is divided between those that believe anyone but Biden can beat Trump and those that believe only Biden can beat Trump.
Of course there is a small but growing minority who believes that we will never find out.
proeasdf said:
jimmurphy said:
drummerboy said:
As I'm trying to explain to these people, the government "printed" money to pay for this.
They did no such thing. We are indebted for it. The GDP to debt ratio has doubled in the last 10 years or so. If there comes a point where the dollar is not the reserve currency, we are screwed.
+10
The fact that the dollar is the reserve currency has nothing to do with it, but thanks for playing.
As for the GDP to debt ratio, please explain to us the point at which that ratio creates some kind of crisis. And then look at Japan so that you can revise your answer.
STANV said:
So now the world is divided between those that believe anyone but Biden can beat Trump and those that believe only Biden can beat Trump.
Of course there is a small but growing minority who believes that we will never find out.
We can only hope.
drummerboy said:
The fact that the dollar is the reserve currency has nothing to do with it, but thanks for playing.
As for the GDP to debt ratio, please explain to us the point at which that ratio creates some kind of crisis. And then look at Japan so that you can revise your answer.
Ah yes wonderful. Why doesn’t every country just fire up the printing presses? Surely they’d like some nice things down in, say Haiti.
jimmurphy said:
drummerboy said:
The fact that the dollar is the reserve currency has nothing to do with it, but thanks for playing.
As for the GDP to debt ratio, please explain to us the point at which that ratio creates some kind of crisis. And then look at Japan so that you can revise your answer.
Ah yes wonderful. Why doesn’t every country just fire up the printing presses? Surely they’d like some nice things down in, say Haiti.
yet again, you display ignorance of MMT. Not every country has the monetary sovereignty to do this, but the U.S. does.
Again, within limits.
db is wrong. If the united states just "printed money" to pay for things we most likely would be a hyperinflation scenario. What the US does do is issue debt and, in the past, raise taxes, to make up short-falls.
jimmurphy said:
And from what special power do we derive this sovereignty?
primarily it's because we borrow in our own currency.
here's one way to think about it:
1. Issues its own currency exclusively
2. Requires all taxes and related obligations to be extinguished in that currency
3. Can purchase anything that is for sale in that currency at any time it chooses, without financial constraints. That includes all idle labour
4. Its central bank sets the interest rate
5. The currency floats
6. The Government does not borrow in any currency other than its own.
lord_pabulum said:
db is wrong. If the united states just "printed money" to pay for things we most likely would be a hyperinflation scenario. What the US does do is issue debt and, in the past, raise taxes, to make up short-falls.
yeah. no.
As I explained earlier in this thread , if a simple "oversupply" of currency triggers inflation, we would have seen high inflation as the result of the Fed's quantitative easing policy after the 2008 crash. They simply conjured up trillions of dollars, with no inflationary effect.
drummerboy said:
primarily it's because we borrow in our own currency.
here's one way to think about it:
1. Issues its own currency exclusively
2. Requires all taxes and related obligations to be extinguished in that currency
3. Can purchase anything that is for sale in that currency at any time it chooses, without financial constraints. That includes all idle labour
4. Its central bank sets the interest rate
5. The currency floats
6. The Government does not borrow in any currency other than its own.
Okay, so any country can do all of these things. That doesn’t seem to make us special.
Why wouldn’t every nation just do this?
“5. The currency floats” would seem to provide a clue... But I’m still being educated. Can you explain to me what it floats against?
nohero said:
It's not the language, it's the concepts.
If you like, you can post how the concepts in his plan do address how the business of electricity generation and transmission is conducted, and how it takes into account current efforts.
What about the concepts? What's wrong with them?
paulsurovell said:
The "concepts" of Bernie's plan call for all electricity to be generated by renewable sources by 2050 and for the transmission of that electricity to be handled by a smart grid.
How does this conflict with "how the business of electricity and transmission is conducted"?
FYI, here's more detail about the viability of these "concepts": http://web.stanford.edu/group/efmh/jacobson/Articles/I/USStatesWWS.pdf
Thanks, Paul! I'm still going over this and his Criminal Justice Reform plan. He's been busy.
jimmurphy said:
drummerboy said:
primarily it's because we borrow in our own currency.
here's one way to think about it:
1. Issues its own currency exclusively
2. Requires all taxes and related obligations to be extinguished in that currency
3. Can purchase anything that is for sale in that currency at any time it chooses, without financial constraints. That includes all idle labour
4. Its central bank sets the interest rate
5. The currency floats
6. The Government does not borrow in any currency other than its own.
Okay, so any country can do all of these things. That doesn’t seem to make us special.
Why wouldn’t every nation just do this?
“5. The currency floats” would seem to provide a clue... But I’m still being educated. Can you explain to me what it floats against?
You're missing the forest for the trees.
Why can't every country do this? Suppose you're in a Euro country? There, you have no control over the currency. By definition, they are not monetarily sovereign.
That's the easy answer. I admit I don't know why every country doesn't. But they don't.
The currency floats against the value of other currencies. But I assume you actually know that, so I'm suspicious of your question.
here's a detailed take on monetary sovereignty
https://mythfighter.com/2010/08/13/monetarily-sovereign-the-key-to-understanding-economics/
drummerboy said:
yeah. no.
As I explained earlier in this thread , if a simple "oversupply" of currency triggers inflation, we would have seen high inflation as the result of the Fed's quantitative easing policy after the 2008 crash. They simply conjured up trillions of dollars, with no inflationary effect.
So was money wasn't printed it was conjured up? I think what your saying is the federal reserve lent money to banks at no interest i.e. quantitative easing.
nan said:
nohero said:
It's not the language, it's the concepts.
If you like, you can post how the concepts in his plan do address how the business of electricity generation and transmission is conducted, and how it takes into account current efforts.
What about the concepts? What's wrong with them?
I think he's trying to figure out how to attack Bernie's concepts without looking like a climate-change denier.
paulsurovell said:
I think he's trying to figure out how to attack Bernie's concepts without looking like a climate-change denier.
Right, he has to get the angle exactly right. It's a thin line. He does not want to fall in the pit as he did with the anti-Semitic illustration.
drummerboy said:
lord_pabulum said:
db is wrong. If the united states just "printed money" to pay for things we most likely would be a hyperinflation scenario. What the US does do is issue debt and, in the past, raise taxes, to make up short-falls.
yeah. no.
As I explained earlier in this thread , if a simple "oversupply" of currency triggers inflation, we would have seen high inflation as the result of the Fed's quantitative easing policy after the 2008 crash. They simply conjured up trillions of dollars, with no inflationary effect.
Db is big on insulting others for a perceived lack of economic knowledge but has no problem putting out idiotic, middle-school type ideas like the government should “just print money” to fund programs.
drummerboy said:
You're missing the forest for the trees.
Why can't every country do this? Suppose you're in a Euro country? There, you have no control over the currency. By definition, they are not monetarily sovereign.
That's the easy answer. I admit I don't know why every country doesn't. But they don't.
The currency floats against the value of other currencies. But I assume you actually know that, so I'm suspicious of your question.
OK, the EU countries can’t do it because of the common currency. I get that.
Mexico has sovereignty over their currency. It seems they meet the 6 criteria.
What prevents México from doing so? Fairly developed nation. Central bank. Certainly could use a boost.
Why wouldn’t they just do this? Does the fact that the currency floats in value versus other currencies have anything to do with it?
Ok, here's another Michael Tracy election topic for everyone to ponder. In this one, he reveals that someone leaked an insider DNC poll, where the Democratic operatives say who they think will be the nominee. No surprise, they think Warren will win, and Harris is second (I think) and they don't even think Bernie has a chance. Tracy goes over the findings and puts them into a larger historical context and notes that in 2016 average twitter users were more predictive of the winner than the highly paid DNC consultant class. Anyway, this is good news for Warren supporters because they will give her lots of good press (as they do) and minimize her faults.
EDIT: Ok, I meant to say, Warren was first, Biden second and Harris third.
So Biden isn’t even in the mix and you lede with the persecution complex. Nice.
jimmurphy said:
So Biden isn’t even in the mix and you lede with the persecution complex. Nice.
Actually, Biden came in second--I messed that up. I will edit (after listening to the video again). I've spent most of my day driving so I'm a little foggy-brained. Not sure what you mean with the "persecution complex" though.
OK, so this is not technically a gaff, but I think this is freaking weird. It's like Biden does not have any policies to talk about so he is weaving magical tales evoking the spirit of Obama. Is this what we need to beat Trump?
Joe Biden, Recalling ’68, Asks Audience to Imagine Obama’s Assassination
“Imagine what would have happened if, God forbid, Barack Obama had been assassinated after becoming the de facto nominee,” Mr. Biden said, evoking the tumult of 1968.
Why are you so preoccupied with Biden? Is it because your guy is trailing him by 20 points?
paulsurovell said:
I think he's trying to figure out how to attack Bernie's concepts without looking like a climate-change denier.
Thinking is obviously not your strong suit
jimmurphy said:
drummerboy said:
You're missing the forest for the trees.
Why can't every country do this? Suppose you're in a Euro country? There, you have no control over the currency. By definition, they are not monetarily sovereign.
That's the easy answer. I admit I don't know why every country doesn't. But they don't.
The currency floats against the value of other currencies. But I assume you actually know that, so I'm suspicious of your question.
OK, the EU countries can’t do it because of the common currency. I get that.
Mexico has sovereignty over their currency. It seems they meet the 6 criteria.
What prevents México from doing so? Fairly developed nation. Central bank. Certainly could use a boost.
Why wouldn’t they just do this? Does the fact that the currency floats in value versus other currencies have anything to do with it?
I don't have the answer to that.
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I don't know about guns into railroad tracks but there may be some whose view of Trump is such that they are expecting people to soon
"beat their swords into plowshares,
and their spears into pruning hooks"