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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Jeff Hayden who wrote (130236)	2/5/2010 2:20:02 PM
From: Steve Lokness	Read Replies (2) \| Respond to of 542836

Good grief! When the economy gets off the ground again, taxes will be collected and the inevitable inflation will pay off the debt faster than you may think. You mean like it did under Bush? There have been very few times in our history when we have had the roaring economy as we did under the stock market and then housing bubble. I can think of only two in recent history; the roaring 20's and right after WWII. Instead of another wild time, what if we just go along as a so so economy for decades? Then the debt from the baby boomers added to a continual stimulus to the economy becomes very problematic. But in any case the worst of the debt was built up in good times - no great times. I don't know why you're so worried about the debt I don't worry about the debt at all. In fact I have no debt, none zero. Soooooooo the money I make I get to spend and buy up bargains from people who took on too much debt and now must sell at bargain rates. And in case you miss the point let me extend it; rich countries around the world by loaning us money are getting richer. These countries include Japan and China, the two biggest, followed by a bunch of oil countries - some our enemies. In the future, these countries will be able to cash in their debt and buy up stuff - China is already doing this in spades. So they hold our debt - notes if you will while we pay them interest. ........And our kids will pay them too, because it has become a way of financing our gluttony. Krugman wants to stimulate the economy, he really thinks we can go back to yesterday - I'm just saying that isn't going to happen. People have to deleverage and inefficiencies driven out of the economy. Now if we were borrowing from ourselves I would be okay with it. You know paying the interest to Grandma on her life sayings. But to China? A communist country?