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AlanMexicali 11th July 2018 08:20 AM

8 Attachment(s)
Quote:

Originally Posted by Zorro2017 (Post 14562028)
A liberal complaining about bloated bureaucracy and government spending, now that right there is funny.

Government set to borrow nearly $1 trillion this year, an 84 percent jump from last year - Chicago Tribune

"Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.

Treasury mainly attributed the increase to the "fiscal outlook." The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law."

Stevenjb 11th July 2018 08:34 AM

Quote:

Originally Posted by AlanMexicali (Post 14563096)
Government set to borrow nearly $1 trillion this year, an 84 percent jump from last year - Chicago Tribune

"Here are the exact figures: The U.S. Treasury expects to borrow $955 billion this fiscal year, according to a documents released Wednesday. It's the highest amount of borrowing in six years, and a big jump from the $519 billion the federal government borrowed last year.

Treasury mainly attributed the increase to the "fiscal outlook." The Congressional Budget Office was more blunt. In a report this week, the CBO said tax receipts are going to be lower because of the new tax law."

It would be interesting if all these countries the U.S. borrows money from called in the debt.

This whole tax thing was not a good move for the economy. And Trump is a business man, shows how bad he is at the economics of business.

perropedorro 11th July 2018 10:35 AM

Quote:

Originally Posted by Stevenjb (Post 14563116)
It would be interesting if all these countries the U.S. borrows money from called in the debt.

This whole tax thing was not a good move for the economy. And Trump is a business man, shows how bad he is at the economics of business.

Trump sold himself as a business genius who would run the country like a business, bad news given that several of his businesses went bankrupt. But that's the nature of corporate bankruptcy: creditors get stiffed, employees are out of work, communities are devastated, but the owner and top execs who caused the mess bail out to a soft landing with golden parachutes. Trump and his cronies will do just fine, but the country/corporation...... meh.

Meritorious-MasoMenos 11th July 2018 12:21 PM

Quote:

Originally Posted by Stevenjb (Post 14563116)
It would be interesting if all these countries the U.S. borrows money from called in the debt.

This whole tax thing was not a good move for the economy. And Trump is a business man, shows how bad he is at the economics of business.

You appear to know little about economic finance. For the past 100 years, the U.S. took over from the pound to have the world's most stable economy and world's currency reserve. Our European "friends" constructed the EU protectionist zone to keep out US products and created the euro to displace the dollar. Now the EU and euro are crumbling before our eyes (as Trump predicted).

The UK pound is too small to become the world currency, and with Brexit, all is up in the air.

To mirth of world's financiers, China suggested the yuan, which it manipulates.

The U.S. dollar remains the world's safest currency and with the current economic boom, will remain the world's strongest economy for decades.

EU is being ripped apart internally, Russia has oil and oil only. Trump can crush China's economy any time he desires. The U.S. is well able, except for some rare heavy metals, to have the resources to produce all that our citizens need, at higher cost. Or, Vietnam, Taiwan, Thailand, Malaysia and India can replace everything China makes within 10 years. China has no other markets to make up for its $100 billion trade surplus with U.S.

So your "It would be interesting if all these countries the U.S. borrows money from called in the debt" is impossible as they have no other place to put their dollars.

AlanMexicali 12th July 2018 02:52 PM

10 Attachment(s)
I presume these two are thrilled with the new tax laws. :tongue:

Zorro2017 12th July 2018 05:32 PM

All of this CNN twisting the facts, I watch it for amusement. A new survey shows that 62% of Hispanics polled say they are financially better off than 2 years ago. Denial is strong on the left with the economy booming, unemployment at all time lows and stock breaking records.

There will be a few bumps as he reels the rest of the world in to spending their "fair share" (a liberal term thrown around a lot concerning taxes) for NATO defense, evens out trade imbalances and takes the cuffs off of industry.

Meanwhile ignoring the fact that Obama didn't have a clue as to how the economy worked which was apparent.

And guess who else is now going to enforce their borders? Mexico. AMLO is getting cozy with Trump because he is going to need the money to implement socialism here. He will appoint a new border police along Mexico's southern border and This fact is being widely ignored by the MSM.

“We’re going to create a border police force that will be highly specialized,” Durazo said. “They need to apply the law.”

López Obrador, also called AMLO, faces a delicate situation of appearing to protect his own borders without mirroring President Trump’s hardline immigration strategy.

“AMLO, as he’s known, also got a boost from pledges to protect Mexicans against an immigrant crackdown by U.S. President Donald Trump,” Bloomberg reported

perropedorro 12th July 2018 06:15 PM

CNN is twisted, but your right wing nut sources like the Federalist papers and patriot news are.... let me guess, "fair and balanced"? ROTFLMFAO!

lagoloo 12th July 2018 11:57 PM

What would also be "interesting" would be the Chinese calling in their U.S. debt to China.

Infidel_jack 12th July 2018 11:59 PM

AMLO should get help from Trump on his message. It is great he is going after corruption but austerity programs are never popular. Better to announce a plan to Make Mexico Greater and drain the swamp by cutting taxes, reducing regulations and bringing more industry to Mexico to help raise wages. He should talk about effectively fighting crime. The people I talk to here in Mexico want a safe place to raise their children and the ability to earn a wage that allows them to stay here in the country they love.
He should talk about returning the power to "El Pueblo". I like this guy. My worry is that ending corruption has traditionally been hazardous to the health of those who suggest it. I Love Mexico, warts and all.

Meritorious-MasoMenos 13th July 2018 12:27 PM

Quote:

Originally Posted by lagoloo (Post 14565888)
What would also be "interesting" would be the Chinese calling in their U.S. debt to China.

Again, you don't follow international finance.

"China Government Debt to GDP 1995-2018
China recorded a government debt equivalent to 47.60 percent of the country's Gross Domestic Product in 2017. Government Debt to GDP in China averaged 29.75 percent from 1995 until 2017, reaching an all time high of 47.60 percent in 2017 and a record low of 20.40 percent in 1997."
https://tradingeconomics.com/china/g...nt-debt-to-gdp

Now it's true that China's percentage of debt to GDP is much better than U.S., though U.S.'s ration has dropped 12%-14% from its all time high in recent years. Still, China can't borrow as easily abroad as the U.S. can, so that China's expansionary policies have already been severely crimped.

China has a trade balance with U.S. of $150 billion a year. Its economy would collapse overnight if U.S. halted trade.

Same with EU. It has a $150 billion balance trade with U.S.

Neither China nor Europe can feed itself on what it grows. They must but food from abroad and for that they must trade. The U.S., on the other hand, can feed itself, can feed the entire world if necessary if they brought tens of millions of fertile but fallow acres back into production.

Unlike Europe or China, the U.S. still possesses all of the natural resources, oil and coal and agricultural land to be self sufficient except for a few rare earth minerals. Sure, more expensive, but we can do it. In U.S. in past 50 years, tens of millions of acres of still fertile land has gone out of farming and returned to wilderness because our agribusiness is so efficient that it produces all U.S. needs and export needs from much less land than the U.S.once used for farming.

Now, Europe, Japan, China and India and other countries, including Canada, either prohibits many U.S. agricultural exports outright or imposes huge tariffs, so that also keeps US farmers from producing more.

Japan's rice producers would be wiped out if they had to face US imports. Most of Europe's agriculture runs on 19th century methods. With tariffs and prohibitions, US meat and produce would be 30% or more cheaper in Europe than its own products. I'm sure many of you are old enough to remember when French haughtily said that a McDonald's wouldn't last a a week in France. Now, American fast food culture is destroying French outdoor cafe life (https://www.washingtonpost.com/world...=.c07709e7afb6). I consider that a tragedy, but consumers should have the choice.. European politicians even ignore their own scientists that GMO food is perfectly safe, instead fanning fears among its people to keep U.S. food products out.

Vietnam, Taiwan, India, Pakistan, Thailand would replace Chinese production within five years, but China, NOR EUROPE, can find markets to replace what they sell in the U.S.

Prices would be higher in U.S. but people would adjust.

Of course, Europe can't even defend itself militarily. Germany and France have a few hundred outmoded tanks and fighters, but no coordination. They rely on American communication planes and satellites to see anything on the battlefield. France has A bombs. Raise your hands if you think the French would ever launch A bombs to protect Poland or Germany. We all know they'd give up if Russia or Muslims threatened to launch an nuke at their beloved Paris. Russians would, and have, burned down every city in front of invaders. Muslims would gladly destroy their most beautiful cities to halt invaders, but not the French.

Canada has totally disarmed, crazy because both China and Russia are exploring ways to project military force across Arctic Circle. Canadians know US will protect them, even as they hurl insults at us.

And lagoloo, just to point out how little you know about finance (the U.S. would never do it) but do you know where new U.S. dollars come from? I bet you don't.

Here's how it goes. An official at the Federal Reserve simply types a code into a computer and voila, there are suddenly $100 million new dollars, $100 billion new dollars, even $100 trillion new dollars. China and many other countries do it all the time to ease international financial pressure. The U.S. doesn't do it. Creation of new dollars are carefully calibrated not to upset a range of factors to maintain U.S. and global financial stability.

But, if it ever came to it, as you wrote, "What would also be "interesting" would be the Chinese calling in their U.S. debt to China," the Federal Reserve could just pull out of thin air create enough dollars to pay off China in full. Heck. the entire foreign debt if we wanted to be meanies about it.


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