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  • A plausible idea

    From ScottW@21:1/5 to All on Tue May 2 21:30:29 2023
    I surely would never suggest dems put what is good for America over their political ambitions.

    So this makes sense.

    "It’s not actually inexplicable because I think the explanation is pretty simple when you think about it. Biden knows he’s already run the economy off a cliff. It’s just a matter of time before the remains slam into the ground and burst into flames.
    With that in mind, what better way to obfuscate from the damage he’s done than to force a debt default? Then he can blame the massive economic downturn that was going to happen anyway on Republicans."

    ScottW

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From ScottW@21:1/5 to Trevor Wilson on Tue May 2 21:56:08 2023
    On Tuesday, May 2, 2023 at 9:45:06 PM UTC-7, Trevor Wilson wrote:
    On 3/05/2023 2:30 pm, ScottW wrote:
    I surely would never suggest dems put what is good for America over their political ambitions.

    So this makes sense.

    "It’s not actually inexplicable because I think the explanation is pretty simple when you think about it. Biden knows he’s already run the economy off a cliff. It’s just a matter of time before the remains slam into the ground and burst into
    flames. With that in mind, what better way to obfuscate from the damage he’s done than to force a debt default? Then he can blame the massive economic downturn that was going to happen anyway on Republicans."

    ScottW
    **Except: https://abcnews.go.com/Business/trumps-economic-legacy/story?id=74760051

    "Economists say Trump’s economic legacy will be defined by his failure in leadership during the COVID-19 pandemic that exacerbated the financial downturn."

    I would agree that the one stupid thing Trump did was NOT to tell Fauci and other covid paranoid lunatics who demanded lockdowns to go fuck themselves like Trevor did while locked up over covid. You aussie's are so flexible.

    Anyway, most rational people know the Trump economy was going quite well until covid hit. Biden doesn't have that excuse as he inherited an economy with no where to go but up as the country reopened and jobs came roaring back.
    But Joe screwed all that up in a short two years.

    ScottW

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Trevor Wilson@21:1/5 to ScottW on Wed May 3 14:45:04 2023
    On 3/05/2023 2:30 pm, ScottW wrote:
    I surely would never suggest dems put what is good for America over their political ambitions.

    So this makes sense.

    "It’s not actually inexplicable because I think the explanation is pretty simple when you think about it. Biden knows he’s already run the economy off a cliff. It’s just a matter of time before the remains slam into the ground and burst into
    flames. With that in mind, what better way to obfuscate from the damage he’s done than to force a debt default? Then he can blame the massive economic downturn that was going to happen anyway on Republicans."

    ScottW

    **Except: https://abcnews.go.com/Business/trumps-economic-legacy/story?id=74760051

    --
    This email has been checked for viruses by Avast antivirus software. www.avast.com

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From mINE109@21:1/5 to ScottW on Wed May 3 10:13:49 2023
    On 5/2/23 11:30 PM, ScottW wrote:
    I surely would never suggest dems put what is good for America over
    their political ambitions.

    So this makes sense.

    "It’s not actually inexplicable because I think the explanation is
    pretty simple when you think about it. Biden knows he’s already run
    the economy off a cliff. It’s just a matter of time before the
    remains slam into the ground and burst into flames. With that in
    mind, what better way to obfuscate from the damage he’s done than to
    force a debt default? Then he can blame the massive economic downturn
    that was going to happen anyway on Republicans."

    Sounds like someone trying to excuse something in advance. If pro forma
    debt ceiling raises were good enough for Trump, they're good enough for
    Biden.

    If you want to find a problem, inflation is generally down except for
    housing costs, which will increase if there's an interest rate hike.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From ScottW@21:1/5 to All on Wed May 3 15:10:58 2023
    On Wednesday, May 3, 2023 at 8:13:52 AM UTC-7, mINE109 wrote:
    On 5/2/23 11:30 PM, ScottW wrote:
    I surely would never suggest dems put what is good for America over
    their political ambitions.

    So this makes sense.

    "It’s not actually inexplicable because I think the explanation is pretty simple when you think about it. Biden knows he’s already run
    the economy off a cliff. It’s just a matter of time before the
    remains slam into the ground and burst into flames. With that in
    mind, what better way to obfuscate from the damage he’s done than to force a debt default? Then he can blame the massive economic downturn
    that was going to happen anyway on Republicans."
    Sounds like someone trying to excuse something in advance. If pro forma
    debt ceiling raises were good enough for Trump, they're good enough for Biden.

    How much of our tax revenue are you willing to have to spend on debt service? Just wondering if there is a limit in that financially limited head of yours.

    ScottW

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Art Sackman@21:1/5 to All on Wed May 3 15:24:32 2023
    On Wednesday, May 3, 2023 at 11:13:52 AM UTC-4, mINE109 wrote:
    On 5/2/23 11:30 PM, ScottW wrote:
    I surely would never suggest dems put what is good for America over
    their political ambitions.

    So this makes sense.

    inflation is generally down except for
    housing costs, which will increase if there's an interest rate hike.

    If you eat insects,

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From mINE109@21:1/5 to ScottW on Thu May 4 07:38:01 2023
    On 5/3/23 5:10 PM, ScottW wrote:
    On Wednesday, May 3, 2023 at 8:13:52 AM UTC-7, mINE109 wrote:
    On 5/2/23 11:30 PM, ScottW wrote:
    I surely would never suggest dems put what is good for America over
    their political ambitions.

    So this makes sense.

    "It’s not actually inexplicable because I think the explanation is
    pretty simple when you think about it. Biden knows he’s already run
    the economy off a cliff. It’s just a matter of time before the
    remains slam into the ground and burst into flames. With that in
    mind, what better way to obfuscate from the damage he’s done than to
    force a debt default? Then he can blame the massive economic downturn
    that was going to happen anyway on Republicans."
    Sounds like someone trying to excuse something in advance. If pro forma
    debt ceiling raises were good enough for Trump, they're good enough for
    Biden.

    How much of our tax revenue are you willing to have to spend on debt service?

    Whatever is required. I'm not willing to default on an obligation
    because it includes debt service.

    Just wondering if there is a limit in that financially limited head of yours.

    Any limit that wasn't tripped by Trump but is by Biden is politically motivated.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From mINE109@21:1/5 to Art Sackman on Thu May 4 07:40:54 2023
    On 5/3/23 5:24 PM, Art Sackman wrote:

    If you eat insects,

    Someone's missing Tucker.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From ScottW@21:1/5 to All on Thu May 4 09:05:10 2023
    On Thursday, May 4, 2023 at 5:38:04 AM UTC-7, mINE109 wrote:
    On 5/3/23 5:10 PM, ScottW wrote:
    On Wednesday, May 3, 2023 at 8:13:52 AM UTC-7, mINE109 wrote:
    On 5/2/23 11:30 PM, ScottW wrote:
    I surely would never suggest dems put what is good for America over
    their political ambitions.

    So this makes sense.

    "It’s not actually inexplicable because I think the explanation is
    pretty simple when you think about it. Biden knows he’s already run >>> the economy off a cliff. It’s just a matter of time before the
    remains slam into the ground and burst into flames. With that in
    mind, what better way to obfuscate from the damage he’s done than to >>> force a debt default? Then he can blame the massive economic downturn >>> that was going to happen anyway on Republicans."
    Sounds like someone trying to excuse something in advance. If pro forma >> debt ceiling raises were good enough for Trump, they're good enough for >> Biden.

    How much of our tax revenue are you willing to have to spend on debt service?
    Whatever is required.

    Seriously?....so you'd spend until every penny of revenue went to debt service.

    You are officially a threat to our sovereignty.


    I'm not willing to default on an obligation
    because it includes debt service.

    Nobody is defaulting. The issue is in the budgets and the debt ceiling is leverage for budget negotiations.
    The R budget will not force a default and it starts to curb deficits.
    The Biden budget will also not force default but it accelerates toward that day.

    Even if the debt ceiling is not lifted this time, there will be no default on T-Bills.
    I for one do not fear gov't shutdown and a temporary halt to non-essential spending.
    It's happened 3 times in the last 10 years and nothing horrific really happened.
    So quit screaming the sky is falling. It isn't.....but one day it will if budgets like Joe's keep getting enacted.

    ScottW

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Art Sackman@21:1/5 to All on Thu May 4 09:48:48 2023

    How much of our tax revenue are you willing to have to spend on debt service?
    Whatever is required.
    Seriously?....so you'd spend until every penny of revenue went to debt service.


    What Stevie doesn't know about economics and finance would fill all the unoccupied
    office space in San Francisco.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From mINE109@21:1/5 to ScottW on Thu May 4 14:29:50 2023
    On 5/4/23 11:05 AM, ScottW wrote:
    On Thursday, May 4, 2023 at 5:38:04 AM UTC-7, mINE109 wrote:
    On 5/3/23 5:10 PM, ScottW wrote:
    On Wednesday, May 3, 2023 at 8:13:52 AM UTC-7, mINE109 wrote:
    On 5/2/23 11:30 PM, ScottW wrote:
    I surely would never suggest dems put what is good for
    America over their political ambitions.

    So this makes sense.

    "It’s not actually inexplicable because I think the
    explanation is pretty simple when you think about it. Biden
    knows he’s already run the economy off a cliff. It’s just a
    matter of time before the remains slam into the ground and
    burst into flames. With that in mind, what better way to
    obfuscate from the damage he’s done than to force a debt
    default? Then he can blame the massive economic downturn that
    was going to happen anyway on Republicans."
    Sounds like someone trying to excuse something in advance. If
    pro forma debt ceiling raises were good enough for Trump,
    they're good enough for Biden.

    How much of our tax revenue are you willing to have to spend on
    debt service?
    Whatever is required.

    Seriously?....so you'd spend until every penny of revenue went to
    debt service.

    Nonsense. Government spending is not limited to revenue.

    You are officially a threat to our sovereignty.

    A default on government obligations is a much greater threat.

    I'm not willing to default on an obligation because it includes
    debt service.

    Nobody is defaulting.

    What happens when you don't pay a bill?

    The issue is in the budgets and the debt ceiling is leverage for
    budget negotiations.

    Trump: “I can’t imagine anybody ever even thinking of using the debt ceiling as a negotiating wedge.”

    The budget is not open to negotiation as it has already been enacted.

    The R budget will not force a default and it starts to curb
    deficits. The Biden budget will also not force default but it
    accelerates toward that day.

    No, default is not inevitable.

    Even if the debt ceiling is not lifted this time, there will be no
    default on T-Bills. I for one do not fear gov't shutdown and a
    temporary halt to non-essential spending.

    A government shutdown, while not at all good, isn't the problem.

    It's happened 3 times in the last 10 years and nothing horrific
    really happened. So quit screaming the sky is falling. It
    isn't.....but one day it will if budgets like Joe's keep getting
    enacted.

    The Obama shutdown was a political disaster for Republicans. The Trump
    shutdown only affected a portion of the federal government.

    The real problem is damage to the dollar, interest rates and losing the benefits of being the world's reserve currency.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From ScottW@21:1/5 to All on Wed May 10 16:03:32 2023
    On Wednesday, May 10, 2023 at 2:29:56 PM UTC-7, mINE109 wrote:
    On 5/10/23 12:01 PM, ScottW wrote:
    On Tuesday, May 9, 2023 at 7:09:15 AM UTC-7, mINE109 wrote:
    On 5/8/23 5:03 PM, ScottW wrote:
    On Monday, May 8, 2023 at 11:09:13 AM UTC-7, mINE109 wrote:
    On 5/8/23 11:31 AM, ScottW wrote:
    On Thursday, May 4, 2023 at 12:32:04 PM UTC-7, mINE109
    wrote:
    On 5/4/23 11:05 AM, ScottW wrote:
    On Thursday, May 4, 2023 at 5:38:04 AM UTC-7, mINE109
    wrote:
    On 5/3/23 5:10 PM, ScottW wrote:

    How much of our tax revenue are you willing to have
    to spend on debt service?
    Whatever is required.

    Seriously?....so you'd spend until every penny of
    revenue went to debt service.
    Nonsense. Government spending is not limited to revenue.

    And that kind of thinking is the largest threat to our
    sovereignty.
    How's Japan's sovereignty holding up?

    Not that well...

    https://www.reuters.com/markets/rates-bonds/higher-interest-rates-may-cause-japans-debt-servicing-top-30-trln-yen-fy2025-2022-01-18/

    I don't see a threat to Japan's sovereignty in there. Did I miss a foreclosure notice?

    And: "Despite the debt pile, Japan's government can spend away
    massive stimulus as the BOJ's ultra-low rates policy keeps
    borrowing costs at rock-bottom."

    Which makes fighting inflation impossible. It also hurt their senior
    who can't get any decent return on their retirement savings without
    having to go into riskier investments. In any case that claim has
    already gone poof as the BoJ has raised rates.
    Still no mention of sovereignty. And Japanese seniors get pensions so "return on their retirement savings" isn't the point you think it is.
    Defaulting on debts is a greater threat than paying them.

    Sooner or later...you'll have no choice.
    That's simply not true.

    I suppose you could just print money and sell the bonds for it to the
    Fed as we've been doing until inflation destroys everyone's income.
    Yes, you can just print money. Inflation is a separate issue.
    All those "fixes" you propose need to be negotiated....if not now,
    when?
    I haven't proposed negotiating any fixes

    Which is how the debt ceiling came to be.

    Your financial plan is a road to ruin.

    ScottW

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)