[ExI] eput this crazy system out of our misery: was RE: Euthanasia

[John Clark]

On Thu, Oct 10, 2013 at 6:24 PM, spike <spike66 at att.net> wrote

> > Now about that business of borrowing money to pay our debts, if we do
> that, we haven’t paid off any debts at all.  We just rearrange debts.
>
And yet our debtors remain happy and are more than willing to continue
loaning money to us just as they have for centuries and they will continue
to do so, unless we do something brain dead dumb. The thing that frightens
me is that the tea party members in the House are brain dead dumb.

> > He not only didn’t try to fix it, he switched sides.  His former
> argument regarding increasing the debt limit is far more convincing than
> the one he is using now.  How did massive borrowing become not a national
> threat, and not unpatriotic?
>
All politicians from both parties feel that they must make protest noises
every time the silly debt ceiling limit vote comes up, they have done so
every one of the 78 times since 1960 it's come up. And that's OK, people
expect it, just as you expect a dog to bark every time he sees a cat. What
is terrifying the markets, and me too, is that this time the politicians
might actually mean the idiotic things they are saying.

> ****
>
>  > I don’t understand who is still loaning money to the US,
>
If you contribute to a pension fund you're loaning money to the USA
whenever they buy a government bond, mutual funds also loan money to the
USA, and so do countless companies big and small who provide goods and
services to the government before they are paid.  And traditionally the
government could give lower interest rates for their bonds than even the
best corporations and people would still snap them up because people
perceived government bonds as the safest thing around. But starting about a
month ago for the first time in history and thanks entirely to the moron
Republicans in the house to sell government bonds they must provide more
interest than corporations do. That's what happens when you even hint that
maybe you'll default. And higher interest rates will only increase the debt
that the jackass Republicans say they are so concerned about.

>  > If we go with the assumption that wasteful spending is a good thing,
>
Nobody thinks wasteful spending is a good thing, and if you want to spend
less then spend less, but don't refuse to pay your bills because you now
feel that the purchases you already made (and were voted for in that same
House of Representatives that is now making such a fuss) were unwise.

> > My prediction is that the congress will eventually compromise and pass
> some kind of budget, perhaps a pumped-up version of sequestration.  Life
> will go on.
>
Life will not go on if they refuse to raise the debt ceiling, at least not
as it has before.  A worldwide 1930's style depression would not be fun,
but that's what we're staring at thanks to dimwit Republicans, they're so
stupid they make George Bush look like an economic genius, and that's not
easy to do.

  John K Clark
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.extropy.org/pipermail/extropy-chat/attachments/20131010/00faec99/attachment.html>