On national TV the austerity movement became a laughingstock | Page 3 | TigerDroppings.com
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UncleFestersLegs
Columbia MD
Member since Nov 2010
1739 posts

re: On national TV the austerity movement became a laughingstock

quote:

What am I missing, debt is an asset? Really? Debt is a liability.

Not if you're JPM and just doing god's work ;)


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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
306351 posts

re: On national TV the austerity movement became a laughingstock
quote:

As I said in the post you quoted when the economy is rolling along on its own.

when have we seen government do this in the past 20 years?

quote:

That is exactly what supply siders will tell you is happening when they are slashing taxes AND INCREASING SPENDING

where am i advocating for increased spending?

quote:

They attribute any rise in revenues (and they are incredibly difficult to find) to tax cuts and when you mention the associated increase in spending THAT ALWAYS ACCOMPANIES those cuts they want to change the subject to the weather.

i don't deny there is an effect, but tax receipts are tied to GDP growth, especially non-public growth

to increase tax receipts, we need to make a bigger pie. the key is doing this in the private sector. if we do that while shrinking the public sector, we accomplish a double boom

quote:

Nice try though, but the myth if supply side economics has been so thoroughly debunked that no one butthe right insists on the validity of the premise any longer....

and yet we see the opposite side fail (greece and much of europe) while "supply siders" have been seen to win out in places like iceland, latvia, and peurto rico

Krugman was wrong about Latvia

quote:

"Krugman famously said back in December 2008 that Latvia is the new Argentina, it will inevitably go bankrupt, and now he has difficulty apparently admitting he was wrong and so he tries to seek some problems in how Latvia is recovering from the economic crisis," Latvian leader Valdis Dombrovskis told CNBC in an interview at the EU summit in Brussels.


quote:

Latvia's government undertook a heavy dose of austerity after a credit boom led to an economic crash in 2008. The government undertook the biggest fiscal adjustment drive of any country in the European Union and gross domestic product (GDP) plunged 24 percent in 2009.

This commitment to fiscal prudence, and Latvia's subsequent growth of 5.5 percent in 2011 and 4.5 percent in 2012, has led the country to be feted by proponents of austerity, such as German Chancellor Angela Merkel.


and yes, i read the article, and yes, i believe that our population needs some the emigration of certain unskilled/uneducated workers


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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
24152 posts

re: On national TV the austerity movement became a laughingstock
quote:

debt is an asset. The problem is budget deficits, specifically deficit spending
I'm sure you didn't mean this as funny as it sounds.
This post was edited on 4/26 at 2:48 pm


UncleFestersLegs
Columbia MD
Member since Nov 2010
1739 posts

re: On national TV the austerity movement became a laughingstock
That is kinda funny.

Debt is a good thing. But creating more debt is a problem? I wonder sometimes how people get through the day without getting run over by a bus.

Government debt is future taxation. We live in a world where drawing demand forward and hoping someone else will pay for it is the only way to keep the plates spinning.

And I guess that's ok. It's just a shame that honesty became the first casualty.
This post was edited on 4/26 at 2:49 pm


Taxing Authority
LSU Fan
Houston
Member since Feb 2010
24152 posts

re: On national TV the austerity movement became a laughingstock
quote:

Government debt is future taxation
This. In fact out ability to tax (the largest economy on the planet) is what makes us creditworthy.

Debt as an asset is laughable. Would you select an insurance company based on it having the highest debt? Would you select a stock to invest in based on it having the greatest debt on it's balance sheet?

It reminds me of Enrons' management claiming their their sky-high PE ratio was evidence they were a great company. "Investors believe in us so much, they just ignore our lack of earnings, losses, and debts. We're in great shape!"

Suckers are soon separated from their money.
This post was edited on 4/26 at 2:56 pm


LSUnKaty
LSU Fan
Katy, TX
Member since Dec 2008
3879 posts

re: On national TV the austerity movement became a laughingstock
quote:

Government debt is future taxation
Or worse yet, future inflation.

At least taxation is visible and does not contribute to excess private debt accumulation, reckless high living, bracket creep, impoverishing those on fixed income, on and on.


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NC_Tigah
LSU Fan
Member since Sep 2003
56521 posts

re: On national TV the austerity movement became a laughingstock
quote:

On national TV the austerity movement became a laughingstock quote: and when will we start to see the decrease in federal spending? Reality kicks Republican ass: Spending As a Percentage of GDP Has Fallen Under Obama
BHO doubled the deficit, and massively increased spending vs GDP. He then reduced it slightly. Asserting Obama decreased federal spending as compared with any of his predecessors (except FDR during WWII), is just pathetic.


This post was edited on 4/26 at 3:52 pm


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
306351 posts

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SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
306351 posts

re: On national TV the austerity movement became a laughingstock
we are so fricked

but there's no issue. nothing to address now. kick the can down the road


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Taxing Authority
LSU Fan
Houston
Member since Feb 2010
24152 posts

re: On national TV the austerity movement became a laughingstock
quote:

Ljhog
Look at all those assets! Awesome!


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Dark Tiger
LSU Fan
Member since Sep 2006
4494 posts

re: On national TV the austerity movement became a laughingstock
A laughingstock like Rex on TigerDroppings?


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GoBigOrange86
Tennessee Fan
Lowcountry, The South, USA
Member since Jun 2008
13920 posts

re: On national TV the austerity movement became a laughingstock
"The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents - #43 added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back -- $30,000 for every man, woman and child. That's irresponsible. It's unpatriotic."

- Barack Obama

It's amazing that all these Democrats who decried spending, decried deficits and debts and longed for a return to the Clinton years while Bush was president, have suddenly decided it's no big deal now that their guy is in office.


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Lsut81
USA Fan
Member since Jun 2005
65712 posts

re: On national TV the austerity movement became a laughingstock
quote:

debt is an asset.


LOLWUT????


I'm going to use this one next time I apply for credit... "But my mortgage debt is actually an asset, you just don't understand"



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Champagne
New Orleans Saints Fan
French and Spanish Empire Border
Member since Oct 2007
13214 posts

re: On national TV the austerity movement became a laughingstock
quote:

solution? kick the can down the road!


I have no problem with that, because I don't really care what happens to the USA 100 years from now.


SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
306351 posts

re: On national TV the austerity movement became a laughingstock
generational theft is immoral


Wally Sparks
Georgia Tech Fan
Atlanta
Member since Feb 2013
9115 posts
Online

re: On national TV the austerity movement became a laughingstock
quote:

I have no problem with that, because I don't really care what happens to the USA 100 years from now.


Your grandkids thank you.


Champagne
New Orleans Saints Fan
French and Spanish Empire Border
Member since Oct 2007
13214 posts

re: On national TV the austerity movement became a laughingstock
quote:

generational theft is immoral


What is the meaning of "immoral"?

I know what that means according to the Judeo-Christian traditions, but, I thought that the USA had discarded that ancient, out-modded and mythological mind-set?

Haven't those ancient thought-patterns been replaced by a more modern approach?


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Champagne
New Orleans Saints Fan
French and Spanish Empire Border
Member since Oct 2007
13214 posts

re: On national TV the austerity movement became a laughingstock
quote:

Your grandkids thank you.


I would simply tell them that, when they are old enough to do better, they should do so.



SlowFlowPro
Stanford Fan
Simple Solutions to Complex Probs
Member since Jan 2004
306351 posts

re: On national TV the austerity movement became a laughingstock
quote:

I would simply tell them that, when they are old enough to do better, they should do so.

i am old enough to do this, and i want to do things

to do this, we need to slash medicare, medicaid, social security, and defense spending. we also need to repeal obamacare


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