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coboardhead



Joined: 26 Oct 2009
Posts: 1952

PostPosted: Wed Mar 07, 2012 7:35 pm    Post subject: Reply with quote

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.
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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: 3385

PostPosted: Wed Mar 07, 2012 7:47 pm    Post subject: Reply with quote

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: 1952

PostPosted: Thu Mar 08, 2012 12:53 am    Post subject: Reply with quote

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. Laughing
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keycocker



Joined: 10 Jul 2005
Posts: 3385

PostPosted: Thu Mar 08, 2012 7:58 am    Post subject: Reply with quote

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: 1952

PostPosted: Thu Mar 08, 2012 8:48 am    Post subject: Reply with quote

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: 5249

PostPosted: Thu Mar 08, 2012 5:36 pm    Post subject: Reply with quote

CB and KC--you understand irony. Laughed out loud.
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stevenbard



Joined: 11 Nov 1993
Posts: 4148

PostPosted: Thu Mar 08, 2012 8:47 pm    Post subject: Reply with quote

I laughed so loud I cried.... Rolling Eyes 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: 5830

PostPosted: Thu Mar 08, 2012 9:54 pm    Post subject: Reply with quote

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: 1395

PostPosted: Fri Mar 09, 2012 7:40 am    Post subject: Reply with quote

stevenbard wrote:
I laughed so loud I cried.... Rolling Eyes 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?

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florian - ny22

http://www.windsurfing.kasail.com/
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boggsman1



Joined: 24 Jun 2002
Posts: 3565
Location: at a computer

PostPosted: Fri Mar 09, 2012 9:28 am    Post subject: Reply with quote

stevenbard wrote:
I laughed so loud I cried.... Rolling Eyes 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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