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Trump: U.S. will never default 'because you print the money'

David_N

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Trump is correct! :cool: This will lead to some very interesting discussion.
Donald Trump declared Monday the U.S. never has to default on debt "because you print the money," while clarifying his strategy for managing the national debt.

Trump insisted that he never said the U.S. should default or attempt to renegotiate with creditors, as had been reported.
"People said I want to go and buy debt and default on debt, and I mean, these people are crazy. This is the United States government," Trump told CNN's Chris Cuomo on "New Day." "First of all, you never have to default because you print the money, I hate to tell you, OK?"
Trump: U.S. will never default 'because you print the money' - CNNPolitics.com

Maybe Trump listened to Greenspan?
Greenspan: US "Can Pay Any Debt It Has Because We Can Always Print Money" | RealClearPolitics
Alan Greenspan, Former Chairman of the Federal Reserve: "Very much so. This is not an issue of credit rating, the United States can pay any debt it has because we can always print money to do that. So, there is zero probability of default."

(Trump is still an idiot, but the fact he has said this is a huge deal.)
 

rocket88

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Trump is correct! :cool: This will lead to some very interesting discussion.

Trump: U.S. will never default 'because you print the money' - CNNPolitics.com

Maybe Trump listened to Greenspan?
Greenspan: US "Can Pay Any Debt It Has Because We Can Always Print Money" | RealClearPolitics


(Trump is still an idiot, but the fact he has said this is a huge deal.)

So now Trump espouses liberal economic policy. So your choice in November is a candidate who is pro-choice, interventionist and espouses liberal econmics, or Hillary Clinton.
 

David_N

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So now Trump espouses liberal economic policy. So your choice in November is a candidate who is pro-choice, interventionist and espouses liberal econmics, or Hillary Clinton.

His statement isn't really liberal policy, it's simply a truism.
 

joG

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fmw

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His statement isn't really liberal policy, it's simply a truism.

Economics is a collection of opinions. It is neither true nor false. His statement is that shared by liberal economists, not conservative ones. Opinions are opinions.
 

Visbek

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Trump is a blithering idiot, who probably stumbled across a true aspect of monetary policy by sheer chance.

Just the other day, he was saying the debt isn't a problem, because we could repurchase our existing debt at a discount. That only works if people are already terrified that you aren't going to pay. Even then, things have to be beyond desperate in order for creditors to take a big discount.

Ultimately, all he's proving is:
• He's utterly clueless
• He is unfit for the office of President
• His followers don't give a crap about anything except his nativism and his attitude
 

David_N

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Economics is a collection of opinions. It is neither true nor false. His statement is that shared by liberal economists, not conservative ones. Opinions are opinions.

It is quite simply a fact that the us government can only voluntarily default.
 

David_N

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Trump is a blithering idiot, who probably stumbled across a true aspect of monetary policy by sheer chance.

Just the other day, he was saying the debt isn't a problem, because we could repurchase our existing debt at a discount. That only works if people are already terrified that you aren't going to pay. Even then, things have to be beyond desperate in order for creditors to take a big discount.

Ultimately, all he's proving is:
• He's utterly clueless
• He is unfit for the office of President
• His followers don't give a crap about anything except his nativism and his attitude

Well, at least he's saying the debt isn't a problem.
 

joG

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His company didn't have a "Printing press."

IT is true that in one's own currency over-borrowing takes a different path that does at least as much and probably more damage. We are lucky in this respect that the Chinese and EU are in such poor circumstances right now.
 

David_N

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IT is true that in one's own currency over-borrowing takes a different path that does at least as much and probably more damage. We are lucky in this respect that the Chinese and EU are in such poor circumstances right now.

"Over borrowing."
Haha, what?
 

JP Hochbaum

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Economics is a collection of opinions. It is neither true nor false. His statement is that shared by liberal economists, not conservative ones. Opinions are opinions.

This isn't economics, this is policy. The government has the ability to print money, that isn't and shouldn't be arguable.
 

coldjoint

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Trump is a blithering idiot, who probably stumbled across a true aspect of monetary policy by sheer chance.

Just the other day, he was saying the debt isn't a problem, because we could repurchase our existing debt at a discount. That only works if people are already terrified that you aren't going to pay. Even then, things have to be beyond desperate in order for creditors to take a big discount.

Ultimately, all he's proving is:
• He's utterly clueless
• He is unfit for the office of President
• His followers don't give a crap about anything except his nativism and his attitude

Change the nativism to celebrity worship and you have Obama.
 

MrWonka

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So now Trump espouses liberal economic policy. So your choice in November is a candidate who is pro-choice, interventionist and espouses liberal econmics, or Hillary Clinton.

Basically proof of what liberals have been saying for years. Most republicans only vote that way because of guns, racism, and sexism. In terms of economic policy Republican ideas are bad for most Republican voters. Trump is essentially keeping those three things in his repertoire while trying to move to the left on economic issues.
 

digsbe

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Yeah, we see how well that worked out for Zimbabwe...
 

David_N

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Yeah, we see how well that worked out for Zimbabwe...

Zimbabwe destroyed their supply. We don't have that problem, and we're not some tiny country either. We control interest rates as well.
 

jonny5

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Trump is correct! :cool: This will lead to some very interesting discussion.

Trump: U.S. will never default 'because you print the money' - CNNPolitics.com

Maybe Trump listened to Greenspan?
Greenspan: US "Can Pay Any Debt It Has Because We Can Always Print Money" | RealClearPolitics


(Trump is still an idiot, but the fact he has said this is a huge deal.)

Default isnt really the problem, though. The negative effects of borrowing such as inflation, interest, and growth, are. No, we'll never default. The currency might just become worth less until no one will accept it.
 

joG

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The idea that there are such things as 'truisms' in economics, is liberal policy.

One can only hope that he realizes that it is a truism that has very little to do with real life. There are actually people that think this means a country can borrow with impunity.
 

joG

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This isn't economics, this is policy. The government has the ability to print money, that isn't and shouldn't be arguable.

Nobody believes that a printer cannot run till the electricity is turned off.
 

iguanaman

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The idea that there are such things as 'truisms' in economics, is liberal policy.

There is this though.....

randy-loyd-and-robert-smith-watch-a-press-during-the-plate-printing-picture-id184074127
 

JohnfrmClevelan

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The idea that there are such things as 'truisms' in economics, is liberal policy.

It seems to be liberal "policy" to understand how things actually work, while it is conservative policy to imagine things work in the way you would like them to work.
 

fmw

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This isn't economics, this is policy. The government has the ability to print money, that isn't and shouldn't be arguable.

I understand. The issue is printing money without consequence.
 
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