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* The GM VOLT! $41,000 For A 40-Mile Car! YOU SUCKERS READY TO BITE? - 3
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http://groups.google.com/group/alt.autos.nissan/t/1ba215daec429385?hl=en
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TOPIC: The GM VOLT! $41,000 For A 40-Mile Car! YOU SUCKERS READY TO BITE?
http://groups.google.com/group/alt.autos.nissan/t/1ba215daec429385?hl=en
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== 1 of 3 ==
Date: Sat, Jul 31 2010 7:31 am
From: "hls"
"Clive" <clive@yewbank.demon.co.uk> wrote in message They've been told
that they have to pay their debts
> first which it appears, will be rejected at a referendum, hence they don't
> get to join.
> --
> Clive
And, not being allowed to join the EU might actually be a gift from God.
== 2 of 3 ==
Date: Sun, Aug 1 2010 11:57 am
From: "rlbell.nsuid@gmail.com"
On Jul 30, 9:12 pm, Michael Coburn <mik...@verizon.net> wrote:
> It won't take long to fix it if the Fed does its actual job and stops
> pissing around. The assholes stopped the QE stuff even though
> unemployment was not easing. The Federal reserve is supposed to balance
> its fear of imaginary inflation with the real problem of unemployment. We
> need money injected into the BOTTOM of the economy and that _WILL_ cause
> a certain amount of inflation. The secret to getting people with money
> to invest that money is to have a decent inflation rate that is
> significantly higher than the return to government backed securities.
> Where the hell the Fed gets off paying the banks to store money at the
> Fed is a very valid question. If the banks want to get income then they
> should damned well LEND. And if they can't lend because no one wants to
> borrow then we don't need no stinkin' banks. And they can all go tits up.
>
The problem with that is if the return on government backed securities
is below the rate of inflation of the US dollar, there is a strong
incentive to abandon using the US dollar as a reserve currency. With
sovereign wealth funds shifting away from the dollar, the only way to
finance the gap between federal taxation and federal spending is by
inflating the currency. The return on government backed securities
has to exceed inflation to keep organizations fronting the money to
float the debt. By keeping the yield high, relative to inflation, the
federal government can borrow back the trade deficit to finance the
government deficit. The US has the structural problems of heading
towards a greek-style debt crisis, but with no group of nations having
enough money to bail it out. High yields on treasury bills will
extend the amount of time before The Reckoning that finally forces the
government to only spend what it collects in taxes (the forced
elimination of the welfare state).
== 3 of 3 ==
Date: Sun, Aug 1 2010 7:32 pm
From: Michael Coburn
On Sun, 01 Aug 2010 11:57:22 -0700, rlbell.nsuid@gmail.com wrote:
> On Jul 30, 9:12 pm, Michael Coburn <mik...@verizon.net> wrote:
>
>> [quoted text muted]
> The problem with that is if the return on government backed securities
> is below the rate of inflation of the US dollar, there is a strong
> incentive to abandon using the US dollar as a reserve currency.
Oh how I wish there was a gradual way to do that. Right now the phrase
"moderate inflation" seem to be a unicorn. But In the real world,
America will have big problems if it can't get off of the oil teat. That
is the _ONLY_ real problem.
> With
> sovereign wealth funds shifting away from the dollar, the only way to
> finance the gap between federal taxation and federal spending is by
> inflating the currency.
Good idea.
> The return on government backed securities has
> to exceed inflation to keep organizations fronting the money to float
> the debt.
That is not actually true. It really depends on _All_ the options.
Right now the dollar is losing value and the euro regaining value. But
we need more of it. We need more inflation than what we currently have.
> By keeping the yield high, relative to inflation, the federal
> government can borrow back the trade deficit to finance the government
> deficit.
Why do you think that the Fed or the Treasury needs to borrow what it can
print or what it can tax for?
> The US has the structural problems of heading towards a
> greek-style debt crisis, but with no group of nations having enough
> money to bail it out.
That is actually hilarious. A nation that prints its own money and whose
debt is DEFINED in its own money, cannot EVER have a "greek-style" debt
crises. There are other dangers but a "greek-style" debt crises is
certainly not among them.
> High yields on treasury bills will extend the
> amount of time before The Reckoning that finally forces the government
> to only spend what it collects in taxes (the forced elimination of the
> welfare state).
BWAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA!!!!!!!!!!!!!!!!!!
There is no reason to borrow. There has been no reason for it since
1973. What should have been happening over the last 30 years was the
creation of a system in which government must tax money back out of the
economy or risk extreme currency devaluation and inflation. There should
be no borrowing.
As far as ending the welfare state, idiot. The current SS and Medicare
systems aren't the problem, and if they are then the solution is going to
be insurance premium increases (FICA and MEDICARE are insurance
premiums). The problem causing the deficits is too much military crap
and insufficient taxation of the people that _WANT_ imperialism.
--
"Senate rules don't trump the Constitution" -- http://GreaterVoice.org/60
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