Tuesday, March 05, 2013

Reminder


....or from your children, their children, their children's children.....

HT:  MoonBattery
Posted by at

10 comments:

J. Strupp said...

I stop by Dadster's blog for one second and the first thing I have to read is this drivel. You're just wrong.

You assume, as usual, that our government operates like a family and needs to pay off all our debt at some point in the future. This is false. The U.S. government can borrow in perpetuity and has done so for a long, long time (as do many corporations). The vast majority of this nation's debt is owned domestically which means the interest payments on our debt will be income for future generations who will own it after you and I are dead. Maybe that interest payment goes up, maybe it goes down but it doesn't matter because it's simply a transfer payment from one generation to the next. You can make the argument that our nation's debt is too high (or too low) but the notion that any debt the government issues is "stealing from future generations" is completely false.





3/05/2013 2:35 PM
Dad29 said...

Stop by more often, you'd learn something.

Struppster, does it occur to your Keynesian-baggled mind that "paying interest to ourselves" is taxation by another name?

Frankly I'd rather have the money to allocate where I'd like to.

And rollovers only continue until the piper calls another tune. That will be known as a "black swan".

But you heard it here first.

3/05/2013 6:44 PM
J. Strupp said...

And how has that piper been calling since we started this debate years ago, Dadster?

3/05/2013 11:27 PM
Anonymous said...

Josh,

I hope you abort any of your children, pre- or post-birth. This world would be better off if you don't reproduce.

Thanks, scumbag.

3/06/2013 12:03 AM
Anonymous said...

You first, deranged anony, you first.

3/06/2013 5:08 AM
Dad29 said...

You know what "black swan" means, Strupp?

I know what Fitch said about the US' credit.

And I know what a bunch of Fed Governors have said about debasing the currency.

So yah, Strupp: what Obozo-the-Commie and Bernanke-the-Court Jester are doing is stealing from multiple generations to come.

3/06/2013 8:05 AM
J. Strupp said...

I read Taleb's book years ago, Dadster. A Minksy Moment doesn't apply as a Black Swan IMO. Why? Because everyone is completely aware of the risks from a sudden spike in interest rates that you've been warning of, incorrectly, for 5 years now.

A Black Swan is an unexpected event of large magnitude. You've been sitting around waiting for the bond vigilanties to come your dogma's rescue for years. Hasn't happened. Because your theories are based on WANTING a Minsky Moment for political reasons and not....well......things like math and data and reason.

3/06/2013 11:32 AM
Jim said...

"Anything the government gives you was taken from somebody else."

Such nonsense. I pay taxes. Those taxes are pooled with those of my fellow Americans to provide services that I and they believe are beneficial to us and to the populace as a whole.

3/06/2013 4:57 PM
J. Strupp said...

Yeah...well....services that are beneficial to us.... And also pieces of shit like the F-35 which cost $200 million a pop and big slow ships named after bad Republican Presidents that benefit no one other Texas Congressmen and their buddies.

But I mostly agree.

3/06/2013 5:16 PM
Dad29 said...

1) sudden spike in interest rates WILL occur when the Fed divests of the Tbonds.

2) I never SAID that the black swan was an uptick in rates. That is completely predictable, as is the inflation that is occurring NOW in food/petroleum and, for that matter, in "prices paid" in the last several ISM manufacturing reports.

If I knew what the black swan was, it would not be one.

Duh.

3/06/2013 9:11 PM

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