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BA Deere
Honored Advisor

David Stockman on Trump`s paying discounted debt.

hardnox
Advisor

Re: David Stockman on Trump`s paying discounted debt.

I don't think that's what he's saying even if he said that in conclusion.

 

He's just ranting about debt and deficits and inflation and saying that you eventually do it anyway.

 

So what he's saying about Trumps proposal is that in the long run we're all dead so let's all line up at the cyanide punchbowl now.

r3020
Senior Advisor

Re: David Stockman on Trump`s paying discounted debt.

Or we can keep doing what we're doing and follow Venezuela. When the government takes care of you there is no need or reason to work. When no one works there is no resources for the government to buy the provisions and no provision to be purchased.

hardnox
Advisor

Re: David Stockman on Trump`s paying discounted debt.

The fiscal conservatives, such as they were, are already out of the race.

BA Deere
Honored Advisor

Re: David Stockman on Trump`s paying discounted debt.

Nox, even though you came at it from the liberal side, you`re steeped enough in economics to know that this can not continue and there will come a day when we are "dead".  

 

Every political party that`s in and that includes the Bush administration likes to have their version of "the deficit and debt don`t matter" ..and that includes the Obama outfit, I suppose when you push things like a major overhaul of healthcare you can`t be concerned with little things like how that will effect the national debt. 

 

What "should be done"  what "can be done" and what "eventually will happen" are 3 very different conclusions.  Trump is being cagey, he doesn`t want to tip his hand, but what he is telegraphing is that we should negotiate with our creditors to lower our debt to a manageable amount.  Believe it or not, that is most reasonable way out, because no one loses everything.  The other 2 of the 3 outcomes everyone..the entitlement class, the 1%er class, everyone loses everything...well the Rothschilds will do pretty darn good because they planned it this way.  That`s why President Trump will be in danger if he really pushes his presciption.

 

Farmers that got their debt written off in the 80`s have all done very well with that ill gotten gains, about everyone i know of is at least a Bigshot today.  Farmers that tried to survive the 80`s through their own "austerity" pretty much all went broke and had a farm sale.  Although I`m still bitter about what went on with that, to have the country go through arbitration to restructure the debt would be the least pain in the long run.  "can it be done"?  I doubt it, as spoiled and selfish this country has become, that arbitration would involve the cutting of entitlement checks, most would rather screw the pooch that see their entitlement check cut at all.