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coboardhead
Joined: 26 Oct 2009 Posts: 4303
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Posted: Wed Mar 07, 2012 7:35 pm Post subject: |
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Feuser wrote
Quote: | Quote: | isobars wrote:
stevenbard wrote:
China's military budget has gone up 30% while ours is falling dramatically. Military is the only big-government program that is essential to world peace.
I've heard it reported that the interest on our debt to China funds almost their entire military. |
Outside the bubble we say: our military spending is one of the primary causes for that debt.
_________________
florian - ny22 |
I think we may have just discovered the INVERSE fiscal equivalent of the infinite energy machine. |
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keycocker
Joined: 10 Jul 2005 Posts: 3598
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Posted: Wed Mar 07, 2012 7:47 pm Post subject: |
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The last posts give me a sense we are on to something.
If we paid off all the debt to the Chinese we could deal a serious blow to their military power?
I want to do this.
If every patriotic American maxed their credit card at the same time and sent the money to China would that be enough? |
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coboardhead
Joined: 26 Oct 2009 Posts: 4303
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Posted: Thu Mar 08, 2012 12:53 am Post subject: |
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keycocker...that's not how I see it, but this is confusing. I think we would be better off not making the payments to China on our debt. They won't be able to attack us cause they won't have our money to finance it. |
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keycocker
Joined: 10 Jul 2005 Posts: 3598
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Posted: Thu Mar 08, 2012 7:58 am Post subject: |
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But they would get mad.Where would we get stuff?
Imagine a day without cheap Chinese crap.
Your houses would be empty.
You could put your car in the garage again.
There would be a shortage of labor in manufacturing. |
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coboardhead
Joined: 26 Oct 2009 Posts: 4303
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Posted: Thu Mar 08, 2012 8:48 am Post subject: |
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O.K...You have a point. We should INCREASE our defense spending so they can loan us more money and sell us cheap stuff. Maybe we should sell them some missiles too. I has worked well for us in the mid-East! |
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mac
Joined: 07 Mar 1999 Posts: 17750 Location: Berkeley, California
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Posted: Thu Mar 08, 2012 5:36 pm Post subject: |
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CB and KC--you understand irony. Laughed out loud. |
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MalibuGuru
Joined: 11 Nov 1993 Posts: 9300
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Posted: Thu Mar 08, 2012 8:47 pm Post subject: |
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I laughed so loud I cried.... Greece just screwed their borrowers. Each and every bond holder will receive only 15 cents on the dollar and get an IOU for less than half of the original bond value. Could the world take it if we did the same thing?
After all, our per capita debt is much higher than Greece's. |
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swchandler
Joined: 08 Nov 1993 Posts: 10588
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Posted: Thu Mar 08, 2012 9:54 pm Post subject: |
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Come on Bard, are we Greece? Do you believe that, and do you really want to go there?
Most sensible folks understand that practical discussion goes well beyond simple minded Republican talking points. Again, I have to ask you for notable data supporting your point here. |
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feuser
Joined: 29 Oct 2002 Posts: 1508
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Posted: Fri Mar 09, 2012 7:40 am Post subject: |
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stevenbard wrote: | I laughed so loud I cried.... Greece just screwed their borrowers. Each and every bond holder will receive only 15 cents on the dollar and get an IOU for less than half of the original bond value. Could the world take it if we did the same thing?
After all, our per capita debt is much higher than Greece's. |
It's lenders, not borrowers, Bard.
And I recall you being in favor of letting banks fail without intervention. How would that outcome be different except perhaps worse? _________________ florian - ny22
http://www.windsurfing.kasail.com/ |
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boggsman1
Joined: 24 Jun 2002 Posts: 9122 Location: at a computer
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Posted: Fri Mar 09, 2012 9:28 am Post subject: |
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stevenbard wrote: | I laughed so loud I cried.... Greece just screwed their borrowers. Each and every bond holder will receive only 15 cents on the dollar and get an IOU for less than half of the original bond value. Could the world take it if we did the same thing?
After all, our per capita debt is much higher than Greece's. |
Ha Ha...you funny Bard. Greece didnt "screw" their bondholders, they DEFAULTED, a term professional fixed income buyers know quite well. They took a risk , and lost, capital markets. Please do not fall into the stupid trap of comparing Greece to the USA. They export olive oil, we export Intel chips and iPhones. |
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