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Flip.

Flop.


Yo, click it

I think that's getting blown up a bit. i watched the interview and he was clearly saying that he couldn't take anything off the table to find a solution (no prerequisites like no tax increase or must have private accounts.)

His position is to achieve a bilateral solution everything needs to be open to debate.

Dino, he's an untrustworthy fli=flopper.

FD:

Your link increases my interest in Mac. I think he's been a terrible candidate thus far and has completely sold himself out since claiming the nomination. I'm glad to see he's at least entertaining the completely obvious position that tax increases will be necessary.

This is a very positive flip-flop.

I wish I knew more about macroeconomics, but how is it possible to keep borrowing without ever paying back? What kind of house of cards is this?

It's not. In fact, emerging economies are starting to invest in the euro instead of the dollar to hedge against an implosion of the US economy. If it implodes, it's going to be ugly. If it doesn't, we've still saddled our kids and grandkids with more debt than they can reasonably pay off, most of which came during the past 8 years.

Remember: If you voted Bush, you hate your kids.

I'm kidding on that last statement. Kinda.

Uber, I guess the second part of my question would be Why would they keep lending us money if they know we have absolutely no intention of ever paying it back?

And does it bother anyone that this economy is supported entirely by loans from foreign countries?

FD:

Your link increases my interest in Mac. I think he's been a terrible candidate thus far and has completely sold himself out since claiming the nomination. I'm glad to see he's at least entertaining the completely obvious position that tax increases will be necessary.

This is a very positive flip-flop.

This is a clear example of political expediency by J. Sydney. With all these flip-flops, are we even sure he is still going to eb interested in the presidency a year into it?

What if he pulls a reverse Favre and decides to retire after he's elected?

These are the kinds of concerns we should all have about a man who is increasingly slippery.

SZR:

If the interest is paid on time, in perpetuity, nobody really cares about the principal.

I hate to say this (as an economist), but it's not clear that an enormous debt even matters. Nonetheless, I'm strongly fiscally conservative because it's not clear either way. But, dang, there are some reasons to believe it's all paper money, literally.

If the interest is paid on time, in perpetuity, nobody really cares about the principal.

Seems to me like anyone who agrees to do business that way should be fired immediately, but what do I know.

Seems to me like anyone who agrees to do business that way should be fired immediately, but what do I know.

Well, that's the model for CC companies and they seem to do okay.

I think it's stupid for the U.S. to operate that way, but the countries lending to us should love it.

Willingness to make minimum payments is the cornerstone of the credit industry.

Fairly long read, but interesting:


click here

I think it's stupid for the U.S. to operate that way, but the countries lending to us should love it.

People love never getting their full loan back?

You guys will feel safer when we build a massive bed up in Alaska and stuff a a few hundred billion under the mattress?

"Barack, why's you DOOOOOOOOOOOOOOOOOO that? There was $25 Billion dollars in there! That's all we had!"

People love never getting their full loan back?

Yeah, they do. Think about it in really small increments.

If I loaned you $100 at 6% interest and allowed you to make interest only payments, I'd get my entire investment back via interest in roughly 16 years and you'd still owe me the full $100.

Thinking in much bigger numbers and much further in the future, why wouldn't a country like China agree to give us a massive loan and make interest only payments? They get all their money back in the lifetime of a high school sophomore and we still owe them every penny.

Fair enough.

A Christiam schooling a Jew on the art of Shylocking.

I have officially seen it all.

Legitimate spit on the monitor.

I was just playing along, seeing if he knew what he was talking about.

Well played Zak.

I think the biggest thing you cats fail to take into account is that these "loans" are unsecured. Backed by the full faith of the Federal government. You act like we are signing away the deed to California.


I don't think they'll ever default but it's not like our grandchildren will be planting the land they used to own for their Chinese masters.

Yeah, I don't think anyone's worried about that. However, you still have to pay. China isn't going to just say "it's cool" and neither will the rest of the world.

We don't pay China, everyone else in the world raises their interest rates to account for the risk. We can't pay them, we lose the ability to borrow. Best case scenario, our economy is reduced to ash. Worst case, we have an attack on American soil.

Despite your nickname, you would have felt right at home playing Defense for the Cowboys Pre-1980 or so.

I don't understand the reference, but I'm going to assume you were calling me an asshole.

Doomsday.

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