BidenPresident
Verified User
I usually appreciate your comments. You made a good observation, we should respond to each other more and spend less time fending off attacks by right wingers.
Should humans and trumpanzees split into separate forums?
- Thread starter NiftyNiblick
- Start date
I usually appreciate your comments. You made a good observation, we should respond to each other more and spend less time fending off attacks by right wingers.
ThatOwlWoman
Leftist Vermin
It was. Nifty is a master of dry humor and subtle wit.
ThatOwlWoman
Leftist Vermin
According to many of our RW friends, having to chip in, via taxation, for the things we all need/use as a nation is slavery.
My analogy was to the culture war here on JPP. NiftyNiblick asked if republicans should secede from JPP so democrats could argue the culture war between other democrats. Republicans also have their own culture war going on. I've only been here a month but so far JPP centralized power hasn't given me a reason to secede. I doubt I could find another group of mods who leave me the fuck alone, hence the grass is not always greener. I escaped slavery a long time ago.
I guess I’ve missed it.
ThatOwlWoman
Leftist Vermin
Yet your degenerate ass is still here...
According to them, any responsibility to society is slavery. It is sad.
Democrats are debating how best to end racism, and to make America a stronger, fairer, more prosperous nation for all Americans. Many Republicans are debating how best to commit genocide. Can you begin to see the issue?
End racism? You fucks are trying to use race to divide this country. One mop-headed racist degenerate dissing the whole country by disgracing our flag and national anthem to further promote racial hatred and you assholes jump on his bandwagon. You and the leftist media are responsible for the racial division. Own it.
The issue is both Biden and Harris are admitted zionists who will continue to send money and weapons to Bibi. We can change our presidents but we can't change the policies. The culture wars only keep us fighting for scraps that fall off the table. There is a real possibility of another civil war. You won't even admit the fed is insolvent.
So the Alt Right is both accusing Biden of being a zionist, and antisemitic. He loves Blacks, and hates Blacks. I could go on and on, but we all know that the Alt Right is just accusing Biden of everything, and trying to see what sticks.
The Fed is not insolvent, and cannot become insolvent in any other way than the technical sense. These are not just words, they are basic facts that have very real meanings in our day to day life. The Fed only has debts denominated in US Dollars. It prints US Dollars. So therefore, it is impossible for it to run out of US Dollars.
Now if it did print trillions of dollars just to pay the debt, that would drive up inflation to insane levels. And that would be impossible for the government to hide from us. The government can hide many economic numbers to some extent, but cannot hide inflation.
Luckily, the Fed does not need to print dollars to pay off the debt. Lenders are willing to effectively pay the Fed to take money. The interest rate is below the inflation rate, so lenders are actually paying the US Government to take their money.
Why is this? Because it is cheaper to give the US Government money to store, than to store it anywhere else. The US Government is the only organization that can guarantee payment in US Dollars, so it is completely safe (other than Republicans trying to destroy America). If you put a million dollars in a vault, it will lose 2%/year due to inflation, and cost money for the vault and security. If you buy Treasurys, you get a 1.6% return, minus 2% inflation, so lose only 0.4%. And Treasurys are easily transferable electronically, where paper money is a pain in the neck to send anywhere.
Only 3% of US currency is printed, the other 97% is created electronically out of thin air. They merely keep adding zeros. Even with all this monopoly money, there is still more debt than money. We've been over this, this past week. Even after a systemic breakdown, you'll still be saying the system is not in default.
Lets take money created in Hong Kong. Any bank can create a Hong Kong Dollar. HK$7.8 is the promise to pay US$1. So if I go to a bank with HK$7.8 that they created, they have to pay me US$1. To secure that, they need someone who can create US Dollar absolutely, so they need to either have reserves of US paper money in vaults (which costs them money), or buy a lot of Treasurys, which in this climate also costs them money.
They need to actually loan us money, and they really do not care if we pay them negative effective interest.
Once again, no one is forcing you to keep "monopoly money." I can take it off your hands. I won't even charge you for the service.
It is impossible for the US Government to be in anything but technical default. It will always have the money to pay all its debts, so not in real default. It might chose not to pay, which is technical default. Technical default is often considered a crime in corporate governance.
If the system does breakdown, it will not be from real default. That is simply not a concern.
Sure sounds like what you fucks were doing to Trump over the last 4 years...
Pelosi agreed to give trump a half trillion slush fund, just to get a stimulus bill to save America. Democrats were will to negotiate... Republicans have stated flatly they will not negotiate, and want to destroy the American economy to hurt Biden.
Beyond that, we only accused trump of what he can reasonably be accused of. No one was saying he was working hard to destroy America, because he simply does not work hard. It is not in him to work an 8 hour day, much less a 40 hour week. Somehow Republicans say Biden is lazy, and hard working.
Beijing can cash in US treasuries (debt) anytime they want. There's nothing technical about it, the system is already in default. China knows it and so does the fed.
Deflection. Fail.
First, you can only cash in Treasurys when they mature. You can sell them on the secondary market, but if China tried to sell all of them on a secondary market, they would get nearly nothing for them.
If China did stop rolling over the Treasurys, we could easily pay them with money we print. That money would lose value, but that is not default. Default is when the debts cannot be paid.
Or we can go into technical default, and refuse to pay. That might cause other lenders to refuse to lend... Or maybe not. It depends on the situation.
Either way, if we pay them with money worth less than the money they lent us, or we do not pay, they lose. We also would probably lose, but they would definitely lose. The question becomes how much pain can they handle?
The answer is far less than you would assume. China has major ethnic divides that can easily split into civil wars. It has some harsh haves and have nots divides. It seems to think it is constantly on the verge of a civil war or revolution in a way that America simply is not.