SHOCK! 4th qtr. GDP declines. Welcome to the beginning of the 2nd GREAT DEPRESSION!!! | |
Limpan User ID: 1474973 Sweden 01/30/2013 10:07 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 25128934 United States 01/30/2013 10:31 AM Report Abusive Post Report Copyright Violation | No. I meant $40 BILLION per DAY! To answer your question, I'll tell you where all the "money" is. Its being printed and then borrowed by the big banks at 0% interest and then the banks are using it to buy FED Reserve bonds, then the FED is taking that money and spending it to pay the interest on our debt and fill in at least part of the massive gap between their spending and the tax revenue they receive. Its basically just an unprecedented money laundering operation and the "money" is just a bunch of FED IOU"s that they have no means to pay back. Just digitized IOU's created out of nothing. |
<<FOCUS>> User ID: 33194738 United States 01/30/2013 10:37 AM Report Abusive Post Report Copyright Violation | No. I meant $40 BILLION per DAY! To answer your question, I'll tell you where all the "money" is. Its being printed and then borrowed by the big banks at 0% interest and then the banks are using it to buy FED Reserve bonds, then the FED is taking that money and spending it to pay the interest on our debt and fill in at least part of the massive gap between their spending and the tax revenue they receive. Its basically just an unprecedented money laundering operation and the "money" is just a bunch of FED IOU"s that they have no means to pay back. Just digitized IOU's created out of nothing. Quoting: Anonymous Coward 25128934 The scary thing is we are sending money and weapons and planes to Egypt and we are borrowing money to do it. WTF! Where is the outrage. |
Redcat1 Redcat User ID: 33054783 United States 01/30/2013 10:39 AM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 25128934 United States 01/30/2013 10:40 AM Report Abusive Post Report Copyright Violation | No. I meant $40 BILLION per DAY! To answer your question, I'll tell you where all the "money" is. Its being printed and then borrowed by the big banks at 0% interest and then the banks are using it to buy FED Reserve bonds, then the FED is taking that money and spending it to pay the interest on our debt and fill in at least part of the massive gap between their spending and the tax revenue they receive. Its basically just an unprecedented money laundering operation and the "money" is just a bunch of FED IOU"s that they have no means to pay back. Just digitized IOU's created out of nothing. Quoting: Anonymous Coward 25128934 The scary thing is we are sending money and weapons and planes to Egypt and we are borrowing money to do it. WTF! Where is the outrage. The money that the gov't. is spending that we see, (like planes to Egypt), is nothing compared to the money they are spending that we don't see. The shadow economy between the Fed and the banks is massive and on a scale we cannot even begin to imagine. |
Anonymous Coward User ID: 961432 United States 01/30/2013 10:46 AM Report Abusive Post Report Copyright Violation | I think the fed's direct actions amount to about $85 billion a month, but the administration is deficit spending another $100 billion or so a month. That is wrapped up in new treasury bonds which the primary dealers buy up with federal reserve "credit". They get that credit by supposedly posting some kind of collateral, most likely the bonds they are going to buy. Then they wait a while while prices on bonds rise (in a declining interest rate environment) and sell the bonds back to the fed for a risk free profit. Anyway, you can assume that with the administration deficit spending to the tune of some $1.2 trillion a year, and that spending is added into GDP, that in reality GDP has been in negative territory for at least as long as Obama has been in office. This depression is far worse than the first great depression its just that the modern banking system and government debt binging have papered over the usual statistics we all look at for "growth". Absent the deficit spending real GDP prints would have been negative for at least 4 years running. . |
Anonymous Coward User ID: 33228148 United States 01/30/2013 10:47 AM Report Abusive Post Report Copyright Violation | Isn't this like using a credit card to pay off another credit card? It's like a circle jerk. In the meantime, nothing in Washington is being done to reign in spending. The country and our standard of living is being trashed by greed and incompetence. I do believe it is deliberate. |
Anonymous Coward User ID: 18746766 Ireland 01/30/2013 12:29 PM Report Abusive Post Report Copyright Violation | Isn't this like using a credit card to pay off another credit card? It's like a circle jerk. In the meantime, nothing in Washington is being done to reign in spending. The country and our standard of living is being trashed by greed and incompetence. I do believe it is deliberate. Quoting: Anonymous Coward 33228148 not quite, its more like making your own credit card with no limits |