The Down Range Forum
Member Section => Down Range Cafe => Topic started by: PegLeg45 on June 21, 2012, 11:30:53 AM
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The TRUTH About Who Really Owns All Of America's Debt
If you ever try comparing the debt situation in the US and Japan, someone will invariably say: Well, Japan can afford a lot more debt because it's all domestically owned, whereas US debt is owned by the Chinese.
It turns out this isn't really true, though unfortunately this destructive myth continues to dominate political/economic debates.
Yes, China holds a lot, but they're not dominant, and when you add it up, most debt is actually domestically held, just like in Japan.
Slide show at link with the list of holders:
http://www.businessinsider.com/who-owns-us-debt-2011-7
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And yet, people will still believe otherwise!
Blind, ignorant and misinformed!
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So it's better to owe your neighbors rather than the bank ?
It doesn't matter who holds it, Keynes was an asshole, debt is debt, and debt is bad.
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So it's better to owe your neighbors rather than the bank ?
It doesn't matter who holds it, Keynes was an asshole, debt is debt, and debt is bad.
No argument there.
It would seem that a lot of politicians and 'controllers of the masses' want the general uninformed, or misinformed, public to think we owe more to foreign countries...more than likely for the fear-mongering tactic of future endeavors.
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No argument there.
It would seem that a lot of politicians and 'controllers of the masses' want the general uninformed, or misinformed, public to think we owe more to foreign countries...more than likely for the fear-mongering tactic of future endeavors.
They don't want people to understand that investment income doesn't just go to "the 1%".
It isn't "the Rich" who get the majority of it.
It is every one who has a retirement fund, or an interest paying bank account.
In other words most of the people, ( Dems ) who complain about Romney earning profits for Bain.
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Just as those that believe the stats given on MA job losses (which is inaccurate) and the unemployment stats during Romney's tenure are inaccurate, people will believe what the will without bothering to check the facts.
Jan 2004 - MA unemployment was at 6.2%
Dec 2007 - MA unemployment was at 4.5% and 24,100 jobs gained since Dec. 2006....
Take the time to remind your friends that the Bureau of Labor Statistics has archived data that isn't that difficult to interpret. Read the facts because facts are stubborn things. Do not listen to what's being said!
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Just as those that believe the stats given on MA job losses (which is inaccurate) and the unemployment stats during Romney's tenure are inaccurate, people will believe what the will without bothering to check the facts.
Jan 2004 - MA unemployment was at 6.2%
Dec 2007 - MA unemployment was at 4.5% and 24,100 jobs gained since Dec. 2006....
Take the time to remind your friends that the Bureau of Labor Statistics has archived data that isn't that difficult to interpret. Read the facts because facts are stubborn things. Do not listen to what's being said!
That's a good one to keep in mind when you see those BO ads.
It mentions that Ma ranked ( I forget the actual number ) 35th in job growth when Romney left office.
They don't mention that that is a good thing when he started at 43rd and dropping.
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With Bernanke starting QE(3), 270+/- billion "just printed" and injected until years end, and The Fed saying they would never "monetize" aka,....buy our debt,.....which they have done over and over again,.....
we're strung out,....Just breaking,....EVERY MAJOR AMERICAN BANK AND FINANCIAL INSTITUTION TO BE DOWNGRADED!!!!
http://www.cnbc.com/id/47903018
Stocks down -250 pts today,....We were warned back in Feb.....but Dancing With The Stars was on,.........
Now Sen. McCain and Linsey Graham aka Uber RINO's are open to "revenue raising", aka raising taxes,....and don't forget taxmegeddon, when the Bush tax cuts expire Dec. 31,....
That will effect EVERYONE!!!!!!
So "What Me Worry",.....Haven't even mentioned Europe yet,.......
"I place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared. To preserve our independence, we must not let our rulers load us with perpetual debt." ---Thomas Jefferson
"I sincerely believe, with you, that banking establishments are more dangerous than standing armies; and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale." --Thomas Jefferson (letter to John Taylor in 1816)
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They don't notice that gas is $3.50+ a gallon because they are watching "Dancing with the Stars". Lets see if they notice when their cable bill is $350 a month because the value of their money dropped.
The local free newspaper has an ad for the local oil company on its front page.
I kept one from March 27th 2009 home heating oil $1.99
Today it's $3.39.
Thanks a f*cking lot Washington.
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That's a good one to keep in mind when you see those BO ads.
It mentions that Ma ranked ( I forget the actual number ) 35th in job growth when Romney left office.
They don't mention that that is a good thing when he started at 43rd and dropping.
Actually, I believe it was near 50th when Jane Swift finally left! By the time he left office, we'd climbed back up to the mid 30's. A good trend line... Granted, governors generally take far more credit for job growth than they actually deserve. The work here over that time frame was converting from hard manufacturing to biomedical and technology jobs. Higher paying, less blue collar as a result of continued national outsourcing of jobs to Asia.
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Jobless Claims Rise Above Expectations
Posted on June 21, 2012 by Conservative Byte
Initial jobless claims were just reported. After last week’s jump in claims, economists had expected 383k to file first-time claims for unemployment benefits. The actual number was slightly higher; 387k filed claims. Last weeks report of 386K filing claims (which was also higher than expected) was revised higher, to 389k claims. It is very likely that this weeks number will be revised higher next week. This is not a good trend.
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This is something I found that relates to TW's post.
http://news.yahoo.com/moodys-cuts-ratings-15-banks-morgan-stanley-down-004301577--sector.html
CHARLOTTE, N.C./LONDON (Reuters) - Ratings agency Moody's downgraded 15 of the world's biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities, but banks criticized the move as backward looking.
Morgan Stanley, one of the most closely watched firms in the much anticipated review, had its long-term debt rating lowered by just two notches, one level less than had been expected, sending its stock up sharply in after-hours trading.
The downgrade left Morgan Stanley more highly rated than Bank of America Corp and Citigroup, but a step below Goldman Sachs Group.
Credit Suisse, which last week was warned about weak capital levels by Switzerland's central bank, was the only bank in the group to suffer a three-notch downgrade. But its new A1 deposit and senior debt ratings still rank higher than many of its peers.
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