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No, the present reality of that monstrous debt matters

Posted on: July 6, 2020 at 09:57:51 CT
ummmm MU
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greatly. First, the US govt crowds out other borrowers. Second, the Federal Reserve prints money and monetizes the debt to facilitate the profligate deficit spending; this causes inflation that is a stealth and destructive tax on working middle class people (especially those with fixed or static incomes).

If the Federal Reserve would stop forcing down the interest rates, interest rates would explode and then the federal govt's biggest line item would be debt service. And that would lead to the federal govt having no choice but to tax working middle class people to pay off its rich banking and sovereign fund creditors.

So, yeah, it matters. And yeah, it needs to be repudiated immediately.

Edited by ummmm at 10:02:29 on 07/06/20
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MESSAGE THREAD

The Next Pandemic Will Be Caused by the National Debt - ashtray UF - 7/6 09:42:12
     China raughs - MIZ45 MU - 7/6 10:50:07
     The national debt doesn't matter according to your - MrBlueSky MU - 7/6 09:44:49
          Now that Ds will be taking over in 6 months, the debt will - SparkyStalcup MU - 7/6 11:13:25
          ^^^commented 2 minutes after the posting of a 7 minute - dangertim MU - 7/6 10:19:21
               He's a speed watcher. Nm - BandG MU - 7/6 10:40:35
          who is my brethren? (nm) - ashtray UF - 7/6 09:45:59
               Eliminate government folks. - MrBlueSky MU - 7/6 09:48:35
                    The US govt should repudiate its debt. - ummmm MU - 7/6 09:53:37
                         If a new government was formed, they could call the old - Mizzou Lou KC - 7/6 10:46:37
                         I wonder if you added all of the - meatiger MU - 7/6 10:04:40
                              Would love to have an armored Suburban - mizzouSECedes STL - 7/6 10:06:12
                         and it explicitly acknowledges it matters - pickle MU - 7/6 09:57:43
                         So **** it, no matter. (nm) - MrBlueSky MU - 7/6 09:54:28
                              try being less of an idiot(nm) - dangertim MU - 7/6 10:17:28
                              lol wow(nm) - Ragnar Danneskjold MU - 7/6 10:03:56
                              No, the present reality of that monstrous debt matters - ummmm MU - 7/6 09:57:51
                              this is your low-information straw man you always use - pickle MU - 7/6 09:56:20
                    Holy hell.... (nm) - MIZ45 MU - 7/6 09:52:42
                    goddamn you are ****ing stupid (nm) - pickle MU - 7/6 09:50:23
                         lol there is no way you read that article - Ragnar Danneskjold MU - 7/6 10:03:19
                              me? you’re wrong (nm) - pickle MU - 7/6 10:12:10
                                   no MBS(nm) - Ragnar Danneskjold MU - 7/6 10:36:27
                                   he pulled a TKB - meant for MBS(nm) - dangertim MU - 7/6 10:18:38
                              sure seems that way - ashtray UF - 7/6 10:05:49
                              lol (nm) - mizzouSECedes STL - 7/6 10:05:29
                         RE: goddamn you are ****ing stupid (nm) - MrBlueSky MU - 7/6 09:53:41
                              do you enjoy proving it? - pickle MU - 7/6 09:55:34
                         RE: goddamn you are ****ing stupid (nm) - MOCO SON MU - 7/6 09:52:17




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