An interesting dialogue with an old friend...

• Owen Abrey

  • If I get started leveling blame all parties get tarred and feathered... 16 trillion deficit? Isn't that more than all the other presidents added together? It will take down the world eventually...
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  6 minutes ago

  Carl Ek

  • Owen. That's not the issue. Debt ceiling is not the same as citizens debt and budget. Countries hav means to raise and lower taxes, and issue bonds. Case in point: all the conservatives scaremongering about interest rates and inflation skyrocking since 2008? Nada. These things are managed. And when countries WANT and CAN reduce the fiscal differences it can be done. Europe crash is slightly different because there are so many fragile dominoes pushing each other. But USA? Remember even Canada recovered from Trudeaus liberal spending. And I must say that If Harper was here, he'd be a freaking communist in relation to these GOPers.
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  about a minute ago

  Owen Abrey

  • We have a conservative government that supports a low interest rate. But you are right to a point. The problem I have is when I hear arguments of invincibility. 10 years ago, Greece, Italy, and Spain were considered able to handle their debt without breaking a sweat. I am not sure if this isn't pure genius in a way. The non-stop printing presses of the fed are ultimately feeding the banks who are buying sovereign debt with it. So long as all that capital is locked away in the bowls of the banks, we will stave off disaster perhaps--in the near term. If they had allowed those trillions to actually be distributed through out the economy, the US would definitely be back in the doldrums of stagflation.
    
    By the way, I appreciate your commentary. Canadian conservatism could be an interesting contrast for historians if nothing else..