Greenspan: US can't default. We can always print money.

[BLS 313]

http://www.youtube.com/watch?v=-_N0Cwg5iN4&feature=player_embedded

[NorthernVike 2,080]

[DankNuggs 305]

Horrifying to hear... Gotta love the academic elite.

[drobeski 3,061]

Horrifying to hear... Gotta love the academic elite.

Hey relax ...its just a real slow recovery

[naomi 343]

Does anyone think he has confidence in what he's saying? I doubt his problem is stupidity.

 

Someone could argue he's not feeding a line of bs, because he's technically speaking to defaulting. Don't worry about that here and now. It's trojan horse reassurance.

 

If he's saying what he's saying hoping he's talking to fools, that's more interesting than what he's actually saying.

 

Here's what I figure as a latent explanation and want to question the veracity of:

Not everything the nation is facing was intended by financial lords, but I think our foolishness has been intentionally capitalized on. International bank owners and their peers have wanted to see a centrally regulated global economy. They have claim to what functions as legitimate backing. They'll be able to exercise their power more holistically if the economies in their sights need serious rescue.

[drobeski 3,061]

Does anyone think he has confidence in what he's saying? I doubt his problem is stupidity.

 

Someone could argue he's not feeding a line of bs, because he's technically speaking to defaulting. Don't worry about that here and now. It's trojan horse reassurance.

 

If he's saying what he's saying hoping he's talking to fools, that's more interesting than what he's actually saying.

 

Here's what I figure as a latent explanation and want to question the veracity of:

Not everything the nation is facing was intended by financial lords, but I think our foolishness has been intentionally capitalized on. International bank owners and their peers have wanted to see a centrally regulated global economy. They have claim to what functions as legitimate backing. They'll be able to exercise their power more holistically if the economies in their sights need serious rescue.

Thy name is Soros, and unless you watch fox news once in a while, every news media outlet you watch is funded by him.

[BLS 313]

Does anyone think he has confidence in what he's saying? I doubt his problem is stupidity.

 

Someone could argue he's not feeding a line of bs, because he's technically speaking to defaulting. Don't worry about that here and now. It's trojan horse reassurance.

 

If he's saying what he's saying hoping he's talking to fools, that's more interesting than what he's actually saying.

 

Here's what I figure as a latent explanation and want to question the veracity of:

Not everything the nation is facing was intended by financial lords, but I think our foolishness has been intentionally capitalized on. International bank owners and their peers have wanted to see a centrally regulated global economy. They have claim to what functions as legitimate backing. They'll be able to exercise their power more holistically if the economies in their sights need serious rescue.

 

 

Your tin foil hat is a little tight.

 

Of course, there is this you can ponder as well:

 

 

http://www.youtube.com/watch?v=JN0By0xbst8

[naomi 343]

Your tin foil hat is a little tight.

 

Hypothetically if the EU and U.S. needed serious external* financial rescue and a new system to collectively 'recover' us is put into place, who would be the architects and backing heavyweights behind it? Who would be in the position where they have the leverage to make it happen?

 

*By external I don't necessarily mean another country, or a collection of individuals with no ties to the nations in question. People who own or who have codependent business relationships with people who own banks that directly influence and have leverage over the one-time sovereign affairs of the nations. People who aren't subject to the internal failings of their nation's economy.

[naomi 343]

Of course, there is this you can ponder as well:

Interesting

[BLS 313]

Interesting

 

 

It's fuckin frightening is what it is.

Especially when you consider that everything he's saying is basically happening right now. The end game is the scariest part.

 

He suggests that we'll beg for communism because our finances will be in such shambles.

That is how they figured they could take us over without ever firing a gun.

[BLS 313]

Hypothetically if the EU and U.S. needed serious external* financial rescue and a new system to collectively 'recover' us is put into place, who would be the architects and backing heavyweights behind it? Who would be in the position where they have the leverage to make it happen?

 

*By external I don't necessarily mean another country, or a collection of individuals with no ties to the nations in question. People who own or who have codependent business relationships with people who own banks that directly influence and have leverage over the one-time sovereign affairs of the nations. People who aren't subject to the internal failings of their nation's economy.

 

 

IMF.

 

 

 

 

Youtube search "Argentina Economic Collapse". The IMF was the big player in that collapse and the similarities between our government and theirs of the time is a bit overwhelming.

[NewbieJr 540]

It's fuckin frightening is what it is.

.

Oh christ. Just what you needed. Something else to be scared of. Have you progressed to simply hiding behind your sofa chewing your fingeres nails, yet?

[Recliner Pilot 61]

Oh christ. Just what you needed. Something else to be scared of. Have you progressed to simply hiding behind your sofa chewing your fingeres nails, yet?

 

What's really funny is that when the sh!t hits the fan Obama will take over the innewebs and BLS won't be able to come here and say "I told ya so"

[MDC 5,890]

What's really funny is that when the sh!t hits the fan Obama will take over the innewebs and BLS won't be able to come here and say "I told ya so"

 

He's like a villain straight out of a superhero movie!

 

Obummer!

[Recliner Pilot 61]

He's like a villain straight out of a superhero movie!

 

Obummer!

 

Um, I was mocking BLS, not Obama, you 'Republican' nincompoop.

[BLS 313]

What's really funny is that when the sh!t hits the fan Obama will take over the innewebs and BLS won't be able to come here and say "I told ya so"

 

 

Aww...looks who's all butthurt because I called him a doosh.

[Voltaire 4,556]

Can't see the link.

[GettnHuge 1]

Can't see the link.

 

"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default"

 

"What I think the S&P thing did was to hit a nerve that there's something basically bad going on, and it's hit the self-esteem of the United States, the psyche"

[BLS 313]

Can't see the link.

 

 

http://www.msnbc.msn.com/id/3032608/vp/44050320#44050320

[Voltaire 4,556]

"The United States can pay any debt it has because we can always print money to do that. So there is zero probability of default"

 

"What I think the S&P thing did was to hit a nerve that there's something basically bad going on, and it's hit the self-esteem of the United States, the psyche"

Thanks.

 

 

I don't mind some schmuck with a blog pointing this out, but hearing it from Alan Greenspan is really disturbing. There was a time not long ago when every syllable this man uttered was parsed for meaning. There are some things you don't just consider and printing our way out of debt is one.

 

The only right thing to do is tighten up, suck it up, act responsibly and pay the bills. When the US government makes promises, even if those promises were made by George W. Bush, everybody after that is expected to keep those promises.

 

I don't like these 'just say fock it' and 'let's go belly up' options. It's not time for nuclear options.

 

All we need to do is balance the annual budget and make the spending cuts and tax hike necessary to live within our means. To do that: more taxes and less government services. Don't spend more than we take in, and stop borrowing. Personally, I think to get there the pain would be minimal. If we get 2012 in order, then get 2013, 2014 etc. We don't have to worry about paying off the debt Bush/Obama accumulated. We just have to keep the budget balanced every year so it doesn't grow.

 

If we keep taxes and spending the same year in and year out. And if we do that, just through normal growth and a small rate of inflation, the problem will get less and less and eventually sort itself out.

 

We've been governing like the future doesn't matter for ten years. Now the boomers are retiring, we've got massive unfunded obligations and we're caught with our pants down. Thank You George W. Bush, that's why I left the country and have been bitching up a storm the whole focking time.

 

Because we put this day off for ten years, unfortunately, there has to be pain. Let's everybody bend over. Anyways, I'm happy that the moment has finally arrived where we accept that the party's over, that we're in a contraction, so now we can go about figuring out how to deal with it with the least amount of pain. I'm happy people realize it. If we can muddle through another 20 years, once the boomers start dying off (and we can make that go a lot faster if we get rid of Medicare ) we can turn things around.

 

As for Greenspan, at the end of the day, he is right. Since our loans are in US dollars, we do always have that nuclear option. Robert Mugabe, for all his efforts, can't print his way out of $US debt but we could. Of course that would wipe out everybody's saving, fock over anybody who's retired and cause massive inflation, and promote a global meltdown. Even worse, it would make me eat crow in the 'hyper-inflation is coming' thread that I bump every month.

 

So why do that? All we have to do is figure out what we want to spend money on and then raise enough in taxes to pay it off. Cut spending? Raise taxes? Both? I don't care, choose. Just focking pay the bills with tax money and stop this cycle of falling short and borrowing to make up the difference. Start with 2012 and go from there.

[BLS 313]

Thanks.

 

 

I don't mind some schmuck with a blog pointing this out, but hearing it from Alan Greenspan is really disturbing. There was a time not long ago when every syllable this man uttered was parsed for meaning. There are some things you don't just consider and printing our way out of debt is one.

 

The only right thing to do is tighten up, suck it up, act responsibly and pay the bills. When the US government makes promises, even if those promises were made by George W. Bush, everybody after that is expected to keep those promises.

 

I don't like these 'just say fock it' and 'let's go belly up' options. It's not time for nuclear options.

 

All we need to do is balance the annual budget and make the spending cuts and tax hike necessary to live within our means. To do that: more taxes and less government services. Don't spend more than we take in, and stop borrowing. Personally, I think to get there the pain would be minimal. If we get 2012 in order, then get 2013, 2014 etc. We don't have to worry about paying off the debt Bush/Obama accumulated. We just have to keep the budget balanced every year so it doesn't grow.

 

If we keep taxes and spending the same year in and year out. And if we do that, just through normal growth and a small rate of inflation, the problem will get less and less and eventually sort itself out.

 

We've been governing like the future doesn't matter for ten years. Now the boomers are retiring, we've got massive unfunded obligations and we're caught with our pants down. Thank You George W. Bush, that's why I left the country and have been bitching up a storm the whole focking time.

 

Because we put this day off for ten years, unfortunately, there has to be pain. Let's everybody bend over. Anyways, I'm happy that the moment has finally arrived where we accept that the party's over, that we're in a contraction, so now we can go about figuring out how to deal with it with the least amount of pain. I'm happy people realize it. If we can muddle through another 20 years, once the boomers start dying off (and we can make that go a lot faster if we get rid of Medicare ) we can turn things around.

 

As for Greenspan, at the end of the day, he is right. Since our loans are in US dollars, we do always have that nuclear option. Robert Mugabe, for all his efforts, can't print his way out of $US debt but we could. Of course that would wipe out everybody's saving, fock over anybody who's retired and cause massive inflation, and promote a global meltdown. Even worse, it would make me eat crow in the 'hyper-inflation is coming' thread that I bump every month.

 

So why do that? All we have to do is figure out what we want to spend money on and then raise enough in taxes to pay it off. Cut spending? Raise taxes? Both? I don't care, choose. Just focking pay the bills with tax money and stop this cycle of falling short and borrowing to make up the difference. Start with 2012 and go from there.

 

 

What about infrastructure?

 

Google Jim Rogers.

[Recliner Pilot 61]

Aww...looks who's all butthurt because I called him a doosh.

 

 

Yeah, cuz that was so original on your part.

 

Shouldn't you be digging a root cellar in your bunker or something?

[BLS 313]

Yeah, cuz that was so original on your part.

 

Shouldn't you be digging a root cellar in your bunker or something?

 

 

Morning, pumpkin!!

[Recliner Pilot 61]

Morning, pumpkin!!

 

Morning, Kaczynski.