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View Diary: To the Right of Ike: A Rant (36 comments)

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  •  The govt can borrow at a negative rate! (3+ / 0-)
    Recommended by:
    tardis10, Upper West, efrenzy

    Given the preposterously low interest rates vs expected even small rate of inflation a huge New Deal Keynsian etc ... right now would be borrowing at a negative rate. So says my amateur back on envelope theorizing.

    This is the culture war. The 30s->60s - civil rights, woman's rights, gay rights, anti war etc - cultural war is over and we won. The economic war - 30s->Reagan - unions, middle class etc was won by us and then they beat back almost all of the gains from Reagan until present. And they hate where this country is going with it's gay married Mexicans and Muslim Presidents and hippie solar panels. So they want to burn it down before they die.

    All the people buying (and selling) the debt is a curse to hand down to future generations actually don't want to leave anything to their and our children. We didn't agree on civil rights and blacks voting so they want to cut us out of the will.

    If you didn't like the news today, go out and make some of your own.

    by jgnyc on Wed Feb 06, 2013 at 02:07:46 PM PST

    •  Low rates (0+ / 0-)

      They are low, but they could certainly go up.  And it isn't like we can just pay it all back without causing massive inflation.  I can't imagine that having debt around 100% of GDP is a good think in the long term.

      •  debt in 1945 (1+ / 0-)
        Recommended by:
        efrenzy

        was preposterous. It was all paid off by growth over decades. Inflation, yes. Massive? Doubtful. We have our own currency etc ... All the reasoning against a New Deal II, that I've seen, is based on ideology not on economics. Then again, economics is next to sociology as a science so ...

        Lower upper tax rates are bad for growth as they don't encourage investment. Ask anyone from the 20th century movie business. Keynes has been right for 80+ years, Greenspan even admitted he was wrong. All that remains is ideology.

        If you didn't like the news today, go out and make some of your own.

        by jgnyc on Wed Feb 06, 2013 at 03:09:25 PM PST

        [ Parent ]

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