William Buffet's solution for the US economy

thriftybob · Feb 9, 2009

PS: I got a BIG question for anyone supporting the "stimulus" mania...

If borrowing to spend creates jobs,

THEN WHAT HAPPENS WHEN YOU PAY THE INTEREST ON THE DEBT, OR REPAY IT???

My God, are we taking away our children's, chidren's jobs now, too, just so we can borrow to live in McMansions full of China made toys and drive gas sucking SUV's?

dtan1e · Feb 9, 2009

Quote from thriftybob:

PS: I got a BIG question for anyone supporting the "stimulus" mania...

If borrowing to spend creates jobs,

THEN WHAT HAPPENS WHEN YOU PAY THE INTEREST ON THE DEBT, OR REPAY IT???

My God, are we taking away our children's, chidren's jobs now, too, just so we can borrow to live in McMansions full of China made toys and drive gas sucking SUV's?
More...

thats true, wonder where all the morales go to, thats equivalent to say wealth of 5 generations to come

Euler · Feb 9, 2009

Quote from thriftybob:

Is there nobody but me here that sees that the reason for the "crisis" is that our credit worthiness as a nation is now suspect in the eyes of the world, and they are only willing to lend more with government guarantees?

The solution, of course, from a common sense viewpoint, is simply to stop trying to borrow more, and instead put more effort into producing and selling exports that we can afford to still purchase imports.

It amazes me that so few economists see this as the root of the problem, or at least that are willing to say it.

So obvious....

And therefore, there is only one way to improve the situation, and that is to dramatically reduce or reverse the imbalance.
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I agree, and I too am disappointed that such obvious truth doesn't show up in the (inter)national dialog regarding the present economic problems. This "crisis" could represent an opportunity to fix things in the US and turn the US to focus its growth more on real productivity of goods and services that the world wants; instead, it seems it's being squandered in (vain?) attempts to maintain the status quo of an ever-increasing portion of the US being sold to finance domestic over-consumption of goods both foreign and domestic.

Anaconda · Feb 9, 2009

Quote from thriftybob:

Is there nobody but me here that sees that the reason for the "crisis" is that our credit worthiness as a nation is now suspect in the eyes of the world, and they are only willing to lend more with government guarantees?

The solution, of course, from a common sense viewpoint, is simply to stop trying to borrow more, and instead put more effort into producing and selling exports that we can afford to still purchase imports.

It amazes me that so few economists see this as the root of the problem, or at least that are willing to say it.

So obvious....

More...

You fail to understand that the monetary system of US and every other first world nation is DESIGNED to do exactly what it is doing.

It is not mathematically possible to ever repay the national debt. There is not enough cash to cover the debt. Never was, never will be.

Only real solution is a true revamping of the monetary system.

thriftybob · Feb 9, 2009

Quote from Anaconda:

You fail to understand that the monetary system of US and every other first world nation is DESIGNED to do exactly what it is doing.

It is not mathematically possible to ever repay the national debt. There is not enough cash to cover the debt. Never was, never will be.

Only real solution is a true revamping of the monetary system.
More...

I think its more of an "unintended consequence" than designed. These bozos either aren't sharp enough to see the next move or are afraid to say they see it.

Anaconda · Feb 9, 2009

Quote from thriftybob:

I think its more of an "unintended consequence" than designed. These bozos either aren't sharp enough to see the next move or are afraid to say they see it.
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Well you think wrong.

The people you consider bozos are walking away with millions, while people like you take the brunt of it. Meanwhile they make apologies and act like idiots, while you complain. Yet you still end up getting f**ked.

Think about that for a while.

thriftybob · Feb 9, 2009

I'm doing just fine, thanks. I can live happily at a level they can't.

The only thing they do to hurt me is manipulate the markets. For the sake of my children who will be left as slaves to debt, I'd prefer it not happen, though.

If what you imply, that they are purposely destroying the nation by indebting it so deep it can never recover, is true, then they should be hung as traitors.

I guess the end result is likely the end of the dollar, anyway. Another 5 years max, IMO.