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From: Tegger on 11 Jan 2010 20:05 "Mike Hunter" <Mikehunt2(a)lycos,com> wrote in news:4b4bb9c9$0$12067$ce5e7886(a)news-radius.ptd.net: > Actually the Fed is doing something today, that was never done before, > under ANY President. > > The fed is BUYING US Bonds from the Treasury Department, thus > monetizing our money. True. That is scandalously incestuous and potentially damaging in the extreme. If a private company tried what the US government is now doing, the principals invloved would face years in jail. In fact, if private companies tried doing what the US government has done since /December 1913/, the same thing would obtain. > That can only lead to inflation and a devalued > dollar. You mean even /more/ damage than the 90% devaluation since 1971? Amazing! The goal is to pay off part of enormous trillions of dollars > in NEW debt, being build up under BO and the Dims, with inflated > dollars. As was the case under Carter, we can look to more double > digit unemployment, interest and inflation rates for years to come. I can think of one bright side: The (slight) possibility that the 78-year experiment with government-monopoly money may finally die, drowning in its own excrement. -- Tegger
From: Hachiroku ハチロク on 11 Jan 2010 15:06 On Mon, 11 Jan 2010 20:03:20 -0500, dr_jeff wrote: > Mike Hunter wrote: >> Actually the Fed is doing something today, that was never done before, >> under ANY President. >> >> The fed is BUYING US Bonds from the Treasury Department, thus monetizing >> our money. That can only lead to inflation and a devalued dollar. The >> goal is to pay off part of enormous trillions of dollars in NEW debt, >> being build up under BO and the Dims, with inflated dollars. As was the >> case under Carter, we can look to more double digit unemployment, >> interest and inflation rates for years to come. > > What about the budget deficit under Bush and the doubling of spending by > the US gov't. Bush never once vetoed a spending bill. > > Jeff Bush isn't President anymore. Can you please focus on the empty suit now occupying the White House? > >> "Tegger" <invalid(a)invalid.inv> wrote in message >> news:Xns9CFDBD1CF733Dtegger(a)208.90.168.18... >>> Hachiroku <Trueno(a)e86.GTS> wrote in news:hig6jo$s3l$1(a)news.eternal- >>> september.org: >>> >>>> in order to reclaim more of the money spent on the bailouts. >>>> >>>> >>>> >>> The Fed is already asking banks to prepay their 2010 premiums to help >>> cover >>> the purchases of Treasury debt. >>> >>> That's a brick wall you see, way up ahead there in the mist. It was >>> erected >>> jointly by all presidents from Nixon on up, and all Obama did was move >>> it closer. Guess who's in the car heading towards it? You. >>> >>> >>> -- >>> Tegger >>> >>> >>
From: Tegger on 11 Jan 2010 20:15 dr_jeff <utz(a)msu.edu> wrote in news:U8idne26DsfIV9bWnZ2dnUVZ_gdi4p2d(a)giganews.com: > Bush never once vetoed a spending bill. And nor will Obama. Failure to veto spending sank Bush, and so it will Obama. -- Tegger
From: Tegger on 11 Jan 2010 20:18 Tegger <invalid(a)invalid.inv> wrote in news:Xns9CFDCE04E15BAtegger@ 208.90.168.18: > dr_jeff <utz(a)msu.edu> wrote in > news:U8idne26DsfIV9bWnZ2dnUVZ_gdi4p2d(a)giganews.com: > >> Bush never once vetoed a spending bill. > > > And nor will Obama. > > Failure to veto spending sank Bush, Sorry, should read "sank the Republican-dominated Congress". > and so it will Obama. > Sorry, should read "AND will sink the Democrat-dominated Congress". Just watch those mid-terms. The Democrats have committed fatal errors due to hubris and blindness. -- Tegger
From: Mike Hunter on 12 Jan 2010 11:23
Who was talking about the Annual Budget, not me. My reference was to the NATIONAL DEBT, not the Annual Budget and where did you get the opinion that Government spending "doubled" during President Bush's tenure, dr_jeff? Look up "Debt" and "Budget" and educate yourself, WBMS. One can have a balanced budget, or even a budge surplus like the Republican Congress created under Clinton, and still be accumulating added DEBT, as happed under Clinton as well, dummy. The Treasury never stopped selling the US Bonds, that add to the NATIONAL DEBT, but are carried as a "asset" as part of the Annual Budget The NATIONAL DEBT went up a half billion over eight years under Bush because of our on going war with the Islamic nuts around the world. However the NATIONAL DEBT is now going up TRILLIONS more because of the war and BO and the Dims in Congress spending TRILLIONS we do not have. Allowing the fed to buy US BONDS is adding even more to the NATIONAL DEBT because the fed simply prints the money thus reducing the value of the dollar and causing inflation. Actually President Bus did veto spending bills, but his vetoes were over ridden by the Dim Congress "dr_jeff" <utz(a)msu.edu> wrote in message news:U8idne26DsfIV9bWnZ2dnUVZ_gdi4p2d(a)giganews.com... > Mike Hunter wrote: >> Actually the Fed is doing something today, that was never done before, >> under ANY President. >> >> The fed is BUYING US Bonds from the Treasury Department, thus monetizing >> our money. That can only lead to inflation and a devalued dollar. The >> goal is to pay off part of enormous trillions of dollars in NEW debt, >> being build up under BO and the Dims, with inflated dollars. As was the >> case under Carter, we can look to more double digit unemployment, >> interest and inflation rates for years to come. > > What about the budget deficit under Bush and the doubling of spending by > the US gov't. Bush never once vetoed a spending bill. > > Jeff > |