@MoMo @roamer_1
I was going to let it go, but with your alluding to the free money comment, you have ventured into my lair of disdain.
If you truly think any of this massive fedzilla laden porkulus, even at zero percent interest comes without any price or damage, then your are way beyond my ability of teaching you any basic fiscal competentiencies. Zero percent interest is a symptom, not a cure of an economy with near zero options left of preventing solvency. Part of the reason why stocks are so high, is because any kind of decent returns from fixed income interest (Fed, Municipal, Corportate Bonds, CD's) instruments drop to near zero.
Then add near zero interest rates to an erroding corporate earnings picture? The death spiral begins. $ ceases to be the referernce currency, international interest in our Treasuries drops not only to zero, but out in out panic enuses to rid themselves of U.S Tbills,and bond paper. From there it justs get worse, but will spare you the dystopian details.
Thirdly, add $9T debt in one year? You think just printing this stuff justifies its value. It's called currency value dillution. Basic ECON 101 stuff there bubba, and if history repeats will be followed with gut wrenching inflation, but what the hell.... It's just free money right?
So in my mind when I hear Free Money being screamed in the manner just like you did, I often check to see if they have an Obamaphone, or are big fans of this guy. Usually, same crowd.
@catfish1957 EVERY word you wrote above is economic gospel! The kind of things we all know on an instinctive level,but don't have the words to express well.
The argument comes from the obvious question "So,what are we going to do about it? Ignore it and just hope it goes away?
Or maybe start taking painful steps to provide SOME stability while restoring our national AND personal finances to the level where the word "insanity" (with maybe a few dozen expletives added for seasoning) isn't an automatic addition to any economic discussion?
*I*,who at times may have dozens of dollars in my checking account,suggest an EXCELLENT place to start is to TRY to start reducing our national obligations while shutting down the bleeding our industrial bases to death by no longer importing all our freaking jobs to slave nations like China who hate us and want to destroy us.
An EXCELLENT place to start would be by arresting the treasonous criminals we normally call "Politicians" and "CEO's/board members" whose only loyalty is to bottom line and selves",and hanging the bastards after fair trials for treason.
Remember,it is THEY who are more to blame for this than the Chinese,who are really just looking out for China.
No,this won't reverse the damage,but it sure as hell reduce the temptation for others to do it again in the future.
BTW,I am NOT talking about JUST hanging the treasonous bastards after finding them guilty,I am talking about a "financial scorched earth" program that seizes ALL their assets and returns that money to the US Treasury. Including assets owned in family members names and any bank accounts or corporate accounts any of them may control.
