MrRodgers -> RE: Harry Reid in '06: Raising debt limit last thing we should do, will weaken country, hurt economy (7/20/2011 9:00:44 PM)
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ORIGINAL: willbeurdaddy quote:
ORIGINAL: Real0ne quote:
ORIGINAL: willbeurdaddy quote:
ORIGINAL: Owner59 Let`s see....'06' comes before the great recession of '08'...... Yes? Before 17 trillion dollars were sucked down a rat hole,tanking the economy. Yes? It was the response to the recession that tanked the economy. We'd be in a period of real growth and without the threat of inflation without the economic morons in this administration. in a debt based economy? you may want to rethink that. Government debt crowds out private debt, which is what I assume you mean by a "debt based" economy. (Giving you the benefit of the doubt that you arent as totally clueless about economics as you are in everything else you post). No !! What he means I suggest and at least...I mean, is that the 'success' of so-called capitalism providing a century of maximum profits can only be accomplished by those with demand...needing debt to fulfill that demand. The richer we are supposed to be and are not and the progress we really haven't made throughout that century, has been accomplished by accruing some $50+ Trillion in debt. Use your logic without political acrimony, how is it that the great rich capitalist has found himself in the 21st century nearly $100,000 in debt per working person and through no fault of his own ? Govt. trillions in debt, the value of everything but the capitalist paper...declining in value ? Just where is the great capitalist success...a big navy ?
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