Alan Greenspan: We Can Always Print Money to Pay Debt

[Master PO]

The answers don't make sense to you. That's not our fault.

If you think that there is a problem with what we are saying, put it in economic terms. This isn't philosophy. And if you aren't capable of doing that, you really have no business in this thread.

and its not thread filled people who understand economics either who i have spoken to.

 

[joG]

LOL....we never got to "math", we were still dealing with the non-logic behind:

The low rates were the symptom of a lot of money into the system that the investment community had to do something with.

It isn't even "finance" since what we are "trying" to debate is the concept of what...or more precisely....who.... determines interest rates. You haven't shown an inkling of understanding what you said, why would I expect you to understand my counters.

You are always good for an aggressive strawman to deflect from the argument. It is not at all interesting.

 

[joG]

You've got the perceived location right, but the origins of where it all begins wrong.

It's Congress that appropriates, not the President. All the POTUS can do is submit his/her annual budget to Congress. It's CONGRESS that ultimately determines how much money is spent and on what. They have the power of the purse.

(Of course, the President can influence those appropriations from the podium and is the one who signs spending bills into law, but it's still Congress who makes appropriations. The POTUS can do nothing concerning federal finances without Congress first giving him the money and the power as to how to use it.)

I'm sorry. You are off on an irrelevant tangent. The proposal of unlimited debt with impunity is much more fundamentally flawed.

 

[James972]

The idea that continues to destroy the US and World economy, there will be a Day that house of cards all collapses, good luck when that happens.

he merely said you could do it to avoid default not that it was a good idea. Context matters. Greenspan was a gold nut most of his life and remains so to this day.