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Thank goodness the world and American citizens take our - printed, fiat currency at near zero

Posted: Oct 13th, 2018 - 12:30 pm In Reply to: The deficit is necessary. - Sm

interest rates. I can’t imagine what would happen if they didn’t.

If the govt can decide what those private sector savings is worth, what's the point? This makes no sense.

If the US government will not default on its debt because the government owns the printing presses, why did the S&P downgrade of the US government's credit rating during Obama’s years?

During quantitative easing under Bernanke, the Fed bought treasuries/mortgages, etc in the open market. Next time there is a financial crisis, I wouldn’t be surprised if the Treasury Dept borrowed directly from the Fed and just skipped the part of buying in the open market. And they bought it with the same fiat money.

This is what causes a bubble, just like Wall Street.

Interest is becoming a huge drain on the yearly budget with even more borrowing.

I'm sorry, but I have to respectfully disagree. Once we get "Medicare for All" (single payer's new name) I just don't see how this will work.

We have a spending problem and just printing more money or what ever it's called now is part of the problem. It's not a tax problem.

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Stop the madness, learn economics, - The operational reality of US govt (Views: 187, 2018-10-13, 7:53 am)
- Modern monetary theory is all backwards. If the govt can set - values for the worth of X by (Views: 151, 2018-10-13, 7:58 am)
  - MMT is simply put, the "inner party" controls all the - money, both fiscal and monetary (Views: 138, 2018-10-13, 9:15 am)
- A quick Wiki search shows this theory thinks that since a - govt controls the monetary printing (Views: 220, 2018-10-13, 8:21 am)
  - They fail to realize that any money a government prints is - fiat money unless there is something to back (Views: 136, 2018-10-13, 8:27 am)
    - Party on the printing press! That is what John Maynard - Keynes did, the Communists and Turks (Views: 228, 2018-10-13, 11:28 am)
      - This just makes it easier for govt officials to embezzle - money to fund their lavish lifestyles. (Views: 162, 2018-10-13, 12:20 pm)
    - Nope. - Sm (Views: 161, 2018-10-13, 11:44 am)
      - "Can be managed with taxes and stabilizers," - In other words, raising taxes. (Views: 138, 2018-10-13, 11:53 am)
    - US has had fully fiat currency for last 47 years.. - No sky fallen yet (Views: 111, 2018-10-13, 12:04 pm)
      - Then why keep talking about the debt? Why care about the - interest rate? Is the debt really there? (Views: 119, 2018-10-13, 12:08 pm)
        The deficit is necessary. - Sm (Views: 131, 2018-10-13, 12:18 pm)
        Thank goodness the world and American citizens take our - printed, fiat currency at near zero
      - Big mistake going off the gold standard. Other countries like - China bought US Treasury Bonds (Views: 194, 2018-10-13, 12:12 pm)
  - No, spending should still be controlled - Understanding funding and demanding (Views: 144, 2018-10-13, 12:00 pm)
- This sounds convoluted. Bottom line is, it's probably going to - work for about 10 years or so. Then, (Views: 148, 2018-10-13, 8:24 am)
- So who is financing this debt? - nm (Views: 114, 2018-10-13, 8:29 am)
  - Well, you see, the debt "isn't really there," because the - gov just prints more money to cover (Views: 136, 2018-10-13, 8:37 am)
    - Just in case you haven't read the other - Comments (Views: 147, 2018-10-13, 11:52 am)
- What is modern about it? Current economics is the same as - old economics. Revisionism is the (Views: 138, 2018-10-13, 8:54 am)
  - Creation of money out of thin air leads to increased - supply of money, which leads to (Views: 128, 2018-10-13, 9:18 am)
    - Nope - Controlled by taxes (Views: 136, 2018-10-13, 11:47 am)
      - So govt created money feeds the pig that is the federal govt - and federal-related spending, (Views: 122, 2018-10-13, 12:05 pm)
        Without the austerity threats - Funding to the society (Views: 113, 2018-10-13, 12:20 pm)
- Unlimited budget for government. - nm (Views: 150, 2018-10-13, 10:25 am)
  - No, not unlimited...and we need to demand it be spent - On ALL of us (Views: 118, 2018-10-13, 11:49 am)
    - "When the people find that they can vote themselves - money, that will heard the end of the (Views: 137, 2018-10-13, 11:55 am)
      - Um...there is still Congress in the equation - We need to Learn and Demand (Views: 173, 2018-10-13, 12:22 pm)
        Ah, now we are getting to what this is really all about. - Socialism. I'm not for corporate (Views: 151, 2018-10-13, 12:37 pm)
        That is not socialism - Sm (Views: 149, 2018-10-13, 3:42 pm)
        Central planning never works because it does not incorporate - human nature. (Views: 134, 2018-10-13, 4:13 pm)
- Economics 101 - See link (Views: 137, 2018-10-13, 6:01 pm)