Friday, August 31, 2012

Same old nonsense to get elected.....

The US government can never go bankrupt or run out of money. The Feds can borrow, tax, steal, or print all they need. Period!

They have been doing it for our whole history why should they stop now. Because we want Republicans to win? Does anyone seriously believe there will be any substantive change made when they get in power? 

Don't hold your breath. Cutting Social Security, medicare, VA benefits, government employment put millions of us into the streets with hang man nooses and guns. 

So what will happen? Just like it always happens: Here's the excuse "the damn opposition party wont let pass these budget savings us so give us more money and your vote so we can win in November and take our government back!

The voters have done this about 50 times in our history and our politicians still suck!!!

Want my vote? Send me a big big check! I'll pay off a few bills and borrow twice as much and so will you. End of depression! 

Read the following all the way through and you'll see...We've been fed a load of horseshit.

A Disturbing Trend in Republican Convention Speeches | PRAGMATIC CAPITALISM

I’ve been watching a number of the Republican National Convention speeches and while I like a lot of what I’ve heard I have to say that there seems to be one overarching and rather disturbing trend in the rhetoric.   There is an endless discussion about the USA going bankrupt.  Even worse, there have been endless comparisons to Greece and other European nations.  This is an egregious misunderstanding of the way our monetary system works.  I won’t regurgitate all of what I just recently wrote in this piece, but this is really rather simple so I’ll pull a snippet: “The USA has an institutional arrangement in which it is a currency issuer. That is, while the Treasury is an operational currency user (meaning it must always have funds in its account at the Fed before it can spend those funds) it is always able to harness the banks to procure funds. This is achieved through bond auctions in which the dealers are required to bid. The NY Fed explains: Primary dealers ar

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