Breaking: Obama unveils 21st Century New Deal

Discussion in 'Economics' started by harkm, Dec 6, 2008.

  1. harkm


  2. We're in a deflationary environment and our paper still holds value to the Chinese.

    By all means we're free to print until either one is true.

    1) China stops buying U.S. Treasury Bills
    2) Deflation turns into Hyperinflation

    Obama's Plan is also better than the TARP. We're bailing out the banks while unemployment soars!
  3. Maybe from the same place we are getting billions for the Iraq War every month.

    Wherever that is...

    Whatever happened to Gingrich's "Contract On America"?
  4. Gingrich was given the boot by his own Congressional partymates. He was the pretty much the last politician of note - from either party - to actually take a principled stand on federal budget irresponsibility.
  5. Very true, and the party is paying the price for it now.
  6. lol are you talking about "Contract With America" or are you being deliberate with the word "on"?
  7. In theory it was "With".

    In practice, it was "On".
  8. Lucrum


    Well we're 10 Trillion in debt, last I saw, probably more now.
    I see where the Fed is supposedly buying treasuries in the open market in a "quantitative" ease.

    How does the largest debtor nation on the planet, continue to spend and bailout left and right AND buy it's own debt instruments in the open market?

    Seems like I saw, not sure if it's true, many months back that the Fed stopped publishing M3?

    Unless they're borrowing from some entity we're not aware of, seems to me they have to be printing the cash.

  9. Yes, the Fed stopped reporting M3 March 23, 2006.

    Not sure why. Maybe the marginal cost of calculating it and printing the number was too high after they calculated and printed the zillion other numbers...
  10. harkm


    So, in your opinion, the government is basically debasing their way out of this mess? I guess they believe they can just take it all back once the economy improves? This may never end or might end badly.
    #10     Dec 6, 2008