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Seriously? Ask Latin America. Argentina for example.
the last time i said this it befuddled you on answering,.... it still does.
That debt was in foreign currency.
Now, answer your question, Po.
That debt was in foreign currency.
So? Its still an answer to the challenge you posed. Moving goalposts shows a lack of integrity.
There's over $2.1T of corporate profits sitting in banks in socialist countries in Europe. When are they gonna trickle-down? The answer, of course, is never. Tax cuts were a false promise designed to trick the less bright into redistributing wealth to the top 1%.
Every time "trickle down economics" is mentioned I get the mental picture of getting pissed on. I guess the analogy would be apt.
Fiscal Conservatism. One aspect of conservatism that Senator Rand Paul and I are in agreement upon. The Republicans are no better than the Democrats when it comes to spending and debt.
This is a 21 minute video, but if you care at all about the future of this country, and our children's future as well, then you should both watch this video, and then contact your Congressman/Senator to support Senator Paul's budget proposal.
I like Rand Paul for a number of reasons, but this is one issue of many where I disagree with him (though I do love his calling out of Republican hypocrisy).
Private debt is the problem, not public debt
...
Really? Are we thuspothed to take thith guy theriosthly?
He sounds worse than Barney.
I tried to pair of with a Mike Tyson meme, but didn't have the time.
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still befuddled are you JohnfrmClevelan?
So? Its still an answer to the challenge you posed. Moving goalposts shows a lack of integrity.
So he asks a question about sovereign debt, you respond with a comment about Argentina's debt (which was not sovereign), and you claim he's moving the goalposts? You simply answered the question incorrectly.
That debt was in foreign currency.
Now, answer your question, Po.
Not at all. Do you not understand the difference between debt in your own currency and debt in a foreign currency?
Also, you can answer the question I posed to you anytime.
So he asks a question about sovereign debt, you respond with a comment about Argentina's debt (which was not sovereign), and you claim he's moving the goalposts? You simply answered the question incorrectly.
And not understanding my answer shows a lack of intelligence.
My bad, i thought that was a response from Austrian ... however, the comment is still valid. JFC's question was about sovereign debt, the response was about non-sovereign debt. There wasn't any goalpost moving on JFC's part.What are you talking about, I never said anything about Argentina's debt?
Apparently you don't understand it either. The type of currency issued doesn't matter as the country can issue it's own currency and exchange it for the currency they need to pay it off. But that doesn't happen because something you MMTers don't get, is it causes massive inflation like it did in Argentina.
The Federal Debt has little-to-no impact on the economy. Unlike personal debt, federal debt does not need to be paid back. The only thing federal debt affects is borrowing rates for the government, and even with debt as high as it is, borrowing rates are low. Now is the time to borrow to rebuild infrastructure or upgrade our power grid.
Federal debt does need to be paid.
Not at all. Do you not understand the difference between debt in your own currency and debt in a foreign currency?
Also, you can answer the question I posed to you anytime.
my question has been simple if debt does not matter, why do we have taxation and overhead of such a system, why are we sending people to jail over something which is not needed.!
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