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View Diary: White House issues veto threat over House's proposed 'Pay China First' bill (62 comments)

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  •  Common misconception (0+ / 0-)

    It borrows food, steel, computers, microchips, consumer goods, etc.

    If the US fails to pay its debts and/or excessively print money, these imports come to an end. And it can't pay it's bills to seniors or anyone else.

    (-5.50,-6.67): Left Libertarian
    Leadership doesn't mean taking a straw poll and then just throwing up your hands. -Jyrinx

    by Sparhawk on Tue May 07, 2013 at 08:27:05 PM PDT

    [ Parent ]

    •  It borrows none of those things....Foreign nations (1+ / 0-)
      Recommended by:

      in an effort to maximize their population's employment have chosen to export their own national wealth in exchange for digital entries on the Fed's balance sheet.  They were paid US dollars when the transaction was made, there is no further transfer of financial wealth.  You are wrong.
      Why would the Govt not pay its bills?
      Are we running low on fiat money or did I miss something?
      Define excessive money creation.....if $1.4 trillion in newly created money in 2009 didn't cause inflation what is the tipping point? (i know the answer...hint: it has to do with real resources)
      Since 1979 the total number of US bonds in the world has grown 1400% from $800 billion to $15 trillion, where is the runaway inflation?  Thats right, inflation has done nothing but decline to the point of our nation being on the verge of deflation.

      "The Earth is my country and Science my religion" Christiaan Huygens

      by Auburn Parks on Tue May 07, 2013 at 08:33:33 PM PDT

      [ Parent ]

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