The Nation's Financial Condition

[Typical Lax Dad]

Fascinating that ANYONE, (even those who think being educated is a negative), thinks that a debt default would not crush the US for generations.

Crazy.
But it's a fascinating window on the ethos out there these days.

After all, they've also been told that the tariffs are paid by the Chinese, not Americans.

Again, to quote David Brooks (Likely a fellow traveler of yours): The anti-Trump echo chamber is becoming a mirror image of Trump himself — overwrought, uncalibrated and incapable of having an intelligent conversation about any complex policy problem.

I don't know what the fallout of a debt default would be, but nor do you.

What I know is we will figure it out; we always have and we always will (provided we are free enough to express thoughts and debate ideas...the opposite of what Democrats are toying with these days, as you dance with them).

Perhaps a default would be the best thing to ever happen to us as a government. Perhaps our fiat currency is indeed what has caused this unmanageable dilemna. Perhaps a hard currency (or the opposite, crypto) is what is needed. I don't know. What I do know is governments (federal state and local) spend too much. The more the state spends, the less free you are.

No one person is an expert on currency, even currency experts. Soros got one call correct, the pound, then wasted all of his profits on the Russian ruble. And he is a supposed expert. Let's see how this plays out. My hunch is we default to ourselves and exchange debt owed to foreigners into trade favors.

Go tell your treasurer to default on your corporate loan payments. How about not paying all of your suppliers. Your company will figure it out. Let me know your ticker so I can make sure I have no money in your company, if it’s public.

[Typical Lax Dad]

https://www.cnn.com/2020/01/11/politics ... index.html

[Peter Brown]

My signature line is so apt in this conversation. Jfc. The Trump mania blinds you to possibilities.

Does one of TLD, a fan, or MD understand that we (the government) owes 90% of the money to ourselves (the Fed mostly followed by banks, which in effect are government agencies)? Treasury debt is not, as you all seem to be so fond of saying, like Trump when he owed $$ to banks. A more apt comparison would be if Trump had owed the money to himself.

The government could and likely will default, and I’m not so sure the outcome is the armegeddon you imagine. In fact a better financial endgame might ensue with the removal of a government fiat currency.

But orange man bad, I get it.

[youthathletics]

https://www.cnn.com/2020/01/11/politics ... index.html

Do a word search in that article for "feel", they need to grow the F up and stop whining. Maybe if they were not still tied to mommies umbilical cord, the middle class areas would not be suffering so much attrition. Spoiled brats.

My niece is in the same crybaby situation. Went to The McDounough School, had to get married at the Ritz in Baltimore, both her and her husband make ~$80k/yr and live in Bethesda...renting a condo. Say they can't afford to buy a house. Why? because they want it all, right now....that entitlement BS. Yet they fly to Vegas once a month, and eat out at high end places every weekend.

[Typical Lax Dad]

https://www.cnn.com/2020/01/11/politics ... index.html

Do a word search in that article for "feel", they need to grow the F up and stop whining. Maybe if they were not still tied to mommies umbilical cord, the middle class areas would not be suffering so much attrition. Spoiled brats.

My niece is in the same crybaby situation. Went to The McDounough School, had to get married at the Ritz in Baltimore, both her and her husband make ~$80k/yr and live in Bethesda...renting a condo. Say they can't afford to buy a house. Why? because they want it all, right now....that entitlement BS. Yet they fly to Vegas once a month, and eat out at high end places every weekend.

Most Millennials go to McDonogh?

[a fan]

My signature line is so apt in this conversation. Jfc. The Trump mania blinds you to possibilities.

Does one of TLD, a fan, or MD understand that we (the government) owes 90% of the money to ourselves (the Fed mostly followed by banks, which in effect are government agencies)? Treasury debt is not, as you all seem to be so fond of saying, like Trump when he owed $$ to banks. A more apt comparison would be if Trump had owed the money to himself.

Your information is simply wrong. And your reaction is to lash out at anyone who questions your "facts", and call them TrumpHaters?

Come on, man.

The Fed holds roughly 1/6th of our Treasury notes. So nope, nowhere near your 90% nonsense. So if we follow your idea? We're stiffing real global partners in the real world.

BTW, here's the actual number of which countries we owe money to, straight from the Treasury Department.

Japan is our biggest creditor. And you're telling us that you want to stiff them?

https://ticdata.treasury.gov/Publish/mfh.txt

[youthathletics]

https://www.cnn.com/2020/01/11/politics ... index.html

Do a word search in that article for "feel", they need to grow the F up and stop whining. Maybe if they were not still tied to mommies umbilical cord, the middle class areas would not be suffering so much attrition. Spoiled brats.

My niece is in the same crybaby situation. Went to The McDounough School, had to get married at the Ritz in Baltimore, both her and her husband make ~$80k/yr and live in Bethesda...renting a condo. Say they can't afford to buy a house. Why? because they want it all, right now....that entitlement BS. Yet they fly to Vegas once a month, and eat out at high end places every weekend.

Most Millennials go to McDonogh?

Ask CNN....you seem to think they have all the answers.

[holmes435]

CNN would say that no Millennials go to McDonogh. The youngest Millennial is around 25. But then again, who knows with McDonogh.

Obviously one anecdote trumps the actual data.

[Peter Brown]

My signature line is so apt in this conversation. Jfc. The Trump mania blinds you to possibilities.

Does one of TLD, a fan, or MD understand that we (the government) owes 90% of the money to ourselves (the Fed mostly followed by banks, which in effect are government agencies)? Treasury debt is not, as you all seem to be so fond of saying, like Trump when he owed $$ to banks. A more apt comparison would be if Trump had owed the money to himself.

Your information is simply wrong. And your reaction is to lash out at anyone who questions your "facts", and call them TrumpHaters?

Come on, man.

The Fed holds roughly 1/6th of our Treasury notes. So nope, nowhere near your 90% nonsense. So if we follow your idea? We're stiffing real global partners in the real world.

BTW, here's the actual number of which countries we owe money to, straight from the Treasury Department.

Japan is our biggest creditor. And you're telling us that you want to stiff them?

https://ticdata.treasury.gov/Publish/mfh.txt

Sorry not 90%, just 70%. Meaning 30% and declining fast is held by foreigners. Which as I’ve said is manageable provided you offer something In exchange on a mutually agreeable deal, ie: not stiffing anyone.

And Japan is not our biggest creditor. We are our biggest creditor.

https://www.marketwatch.com/story/heres ... 2018-08-21

If you add the debt held by Social Security and all the retirement and pension funds, almost half of the U.S. Treasury debt is held in trust for your retirement. If the United States defaults on its debt, foreign investors would be angry, but current and future retirees would be hurt the most. So what do you do? Maybe offer in exchange some form of social security replacement vehicle. My guess is something needs to be done and will. I’ve heard some fascinating ideas at some events. We will surely figure it out.

But orange man bad and I don’t want to debate any topic that’s complex because all I care about is Trump.

[Typical Lax Dad]

https://www.cnn.com/2020/01/11/politics ... index.html

Do a word search in that article for "feel", they need to grow the F up and stop whining. Maybe if they were not still tied to mommies umbilical cord, the middle class areas would not be suffering so much attrition. Spoiled brats.

My niece is in the same crybaby situation. Went to The McDounough School, had to get married at the Ritz in Baltimore, both her and her husband make ~$80k/yr and live in Bethesda...renting a condo. Say they can't afford to buy a house. Why? because they want it all, right now....that entitlement BS. Yet they fly to Vegas once a month, and eat out at high end places every weekend.

Most Millennials go to McDonogh?

Ask CNN....you seem to think they have all the answers.

I am asking you. You are the guy that provided an example. The millennials I know are doing well.

Here is some data on why people may feel they are not making progress: https://www.pewresearch.org/fact-tank/2 ... r-decades/

[Typical Lax Dad]

My signature line is so apt in this conversation. Jfc. The Trump mania blinds you to possibilities.

Does one of TLD, a fan, or MD understand that we (the government) owes 90% of the money to ourselves (the Fed mostly followed by banks, which in effect are government agencies)? Treasury debt is not, as you all seem to be so fond of saying, like Trump when he owed $$ to banks. A more apt comparison would be if Trump had owed the money to himself.

Your information is simply wrong. And your reaction is to lash out at anyone who questions your "facts", and call them TrumpHaters?

Come on, man.

The Fed holds roughly 1/6th of our Treasury notes. So nope, nowhere near your 90% nonsense. So if we follow your idea? We're stiffing real global partners in the real world.

BTW, here's the actual number of which countries we owe money to, straight from the Treasury Department.

Japan is our biggest creditor. And you're telling us that you want to stiff them?

https://ticdata.treasury.gov/Publish/mfh.txt

Sorry not 90%, just 70%. Which as I’ve said is manageable provided you offer something In exchange on a mutually agreeable deal, ie: not stiffing anyone.

And Japan is not our biggest creditor. We are our biggest creditor.

https://www.marketwatch.com/story/heres ... 2018-08-21

If you add the debt held by Social Security and all the retirement and pension funds, almost half of the U.S. Treasury debt is held in trust for your retirement. If the United States defaults on its debt, foreign investors would be angry, but current and future retirees would be hurt the most. So what do you do? Maybe offer in exchange some form of social security replacement vehicle. My guess is something needs to be done and will. I’ve heard some fascinating ideas at some events. We will surely figure it out.

But orange man bad and I don’t want to debate any topic that’s complex because all I care about is Trump.

So you changed your mind about defaulting?

[Peter Brown]

My signature line is so apt in this conversation. Jfc. The Trump mania blinds you to possibilities.

Does one of TLD, a fan, or MD understand that we (the government) owes 90% of the money to ourselves (the Fed mostly followed by banks, which in effect are government agencies)? Treasury debt is not, as you all seem to be so fond of saying, like Trump when he owed $$ to banks. A more apt comparison would be if Trump had owed the money to himself.

Your information is simply wrong. And your reaction is to lash out at anyone who questions your "facts", and call them TrumpHaters?

Come on, man.

The Fed holds roughly 1/6th of our Treasury notes. So nope, nowhere near your 90% nonsense. So if we follow your idea? We're stiffing real global partners in the real world.

BTW, here's the actual number of which countries we owe money to, straight from the Treasury Department.

Japan is our biggest creditor. And you're telling us that you want to stiff them?

https://ticdata.treasury.gov/Publish/mfh.txt

Sorry not 90%, just 70%. Which as I’ve said is manageable provided you offer something In exchange on a mutually agreeable deal, ie: not stiffing anyone.

And Japan is not our biggest creditor. We are our biggest creditor.

https://www.marketwatch.com/story/heres ... 2018-08-21

If you add the debt held by Social Security and all the retirement and pension funds, almost half of the U.S. Treasury debt is held in trust for your retirement. If the United States defaults on its debt, foreign investors would be angry, but current and future retirees would be hurt the most. So what do you do? Maybe offer in exchange some form of social security replacement vehicle. My guess is something needs to be done and will. I’ve heard some fascinating ideas at some events. We will surely figure it out.

But orange man bad and I don’t want to debate any topic that’s complex because all I care about is Trump.

So you changed your mind about defaulting?

I’d prefer not to. But in the real world, it looks inevitable. Much like Connecticut, Illinois, New Jersey, and New York will default.

What I’m saying is the government is not helpless here in crafting a deal where everyone is satisfied. There are options on a default. Someone very sharp will figure it out.

[Typical Lax Dad]

My signature line is so apt in this conversation. Jfc. The Trump mania blinds you to possibilities.

Does one of TLD, a fan, or MD understand that we (the government) owes 90% of the money to ourselves (the Fed mostly followed by banks, which in effect are government agencies)? Treasury debt is not, as you all seem to be so fond of saying, like Trump when he owed $$ to banks. A more apt comparison would be if Trump had owed the money to himself.

Your information is simply wrong. And your reaction is to lash out at anyone who questions your "facts", and call them TrumpHaters?

Come on, man.

The Fed holds roughly 1/6th of our Treasury notes. So nope, nowhere near your 90% nonsense. So if we follow your idea? We're stiffing real global partners in the real world.

BTW, here's the actual number of which countries we owe money to, straight from the Treasury Department.

Japan is our biggest creditor. And you're telling us that you want to stiff them?

https://ticdata.treasury.gov/Publish/mfh.txt

Sorry not 90%, just 70%. Which as I’ve said is manageable provided you offer something In exchange on a mutually agreeable deal, ie: not stiffing anyone.

And Japan is not our biggest creditor. We are our biggest creditor.

https://www.marketwatch.com/story/heres ... 2018-08-21

If you add the debt held by Social Security and all the retirement and pension funds, almost half of the U.S. Treasury debt is held in trust for your retirement. If the United States defaults on its debt, foreign investors would be angry, but current and future retirees would be hurt the most. So what do you do? Maybe offer in exchange some form of social security replacement vehicle. My guess is something needs to be done and will. I’ve heard some fascinating ideas at some events. We will surely figure it out.

But orange man bad and I don’t want to debate any topic that’s complex because all I care about is Trump.

So you changed your mind about defaulting?

I’d prefer not to. But in the real world, it looks inevitable. Much like Connecticut, Illinois, New Jersey, and New York will default.

What I’m saying is the government is not helpless here in crafting a deal where everyone is satisfied. There are options on a default. Someone very sharp will figure it out.

I am not sure I read anyone say it won’t be figured out. Taking a haircut is figuring it out but it’s not without consequence.

[youthathletics]

https://www.cnn.com/2020/01/11/politics ... index.html

Do a word search in that article for "feel", they need to grow the F up and stop whining. Maybe if they were not still tied to mommies umbilical cord, the middle class areas would not be suffering so much attrition. Spoiled brats.

My niece is in the same crybaby situation. Went to The McDounough School, had to get married at the Ritz in Baltimore, both her and her husband make ~$80k/yr and live in Bethesda...renting a condo. Say they can't afford to buy a house. Why? because they want it all, right now....that entitlement BS. Yet they fly to Vegas once a month, and eat out at high end places every weekend.

Most Millennials go to McDonogh?

Ask CNN....you seem to think they have all the answers.

I am asking you. You are the guy that provided an example. The millennials I know are doing well.

you know damned well you didn’t post that link as a positive, b/c it would be a positive for Trump if you felt the opposite were true.

You are making it harder and harder to have any kind of conversation with. Seems you’ve reserved to plucking nerves and trolling.

[Typical Lax Dad]

https://www.cnn.com/2020/01/11/politics ... index.html

Do a word search in that article for "feel", they need to grow the F up and stop whining. Maybe if they were not still tied to mommies umbilical cord, the middle class areas would not be suffering so much attrition. Spoiled brats.

My niece is in the same crybaby situation. Went to The McDounough School, had to get married at the Ritz in Baltimore, both her and her husband make ~$80k/yr and live in Bethesda...renting a condo. Say they can't afford to buy a house. Why? because they want it all, right now....that entitlement BS. Yet they fly to Vegas once a month, and eat out at high end places every weekend.

Most Millennials go to McDonogh?

Ask CNN....you seem to think they have all the answers.

I am asking you. You are the guy that provided an example. The millennials I know are doing well.

you know damned well you didn’t post that link as a positive, b/c it would be a positive for Trump if you felt the opposite were true.

You are making it harder and harder to have any kind of conversation with. Seems you’ve reserved to plucking nerves and trolling.

My point was that some feel that way and some don’t. I don’t think the kids I know represent most millennials and the people you know don’t either. You are on a lacrosse board for gods sake. I could say the article is false because the kids I know are doing well.....but that’s myopic....Trump has not been in office long enough to have a real impact. The feeling these young people have is a long time coming and is the result of long term economic policies. I was telling people 10 - 15 years ago that our standard of living has been reduced. Nothing to do with Trump. You are fixated.

[holmes435]

But orange man bad and I don’t want to debate any topic that’s complex because all I care about is Trump.

He never mentioned Trump and was in fact debating the topic with you.

[Typical Lax Dad]

https://www.cnbc.com/amp/id/44962589

https://worldview.stratfor.com/article/ ... ican-power

https://fortune.com/2015/07/20/united-s ... nomic/amp/

Millennials are starting to voice their concerns.

[Typical Lax Dad]

But orange man bad and I don’t want to debate any topic that’s complex because all I care about is Trump.

He never mentioned Trump and was in fact debating the topic with you.

Fixated.

[tech37]

https://www.cnn.com/2020/01/11/politics ... index.html

Do a word search in that article for "feel", they need to grow the F up and stop whining. Maybe if they were not still tied to mommies umbilical cord, the middle class areas would not be suffering so much attrition. Spoiled brats.

My niece is in the same crybaby situation. Went to The McDounough School, had to get married at the Ritz in Baltimore, both her and her husband make ~$80k/yr and live in Bethesda...renting a condo. Say they can't afford to buy a house. Why? because they want it all, right now....that entitlement BS. Yet they fly to Vegas once a month, and eat out at high end places every weekend.

Most Millennials go to McDonogh?

Ask CNN....you seem to think they have all the answers.

I am asking you. You are the guy that provided an example. The millennials I know are doing well.

Here is some data on why people may feel they are not making progress: https://www.pewresearch.org/fact-tank/2 ... r-decades/

Now that's funny...TLD fat cat 1% er...of course the millennials he knows are doing well

Persians too

[MDlaxfan76]

https://www.cnn.com/2020/01/11/politics ... index.html

Do a word search in that article for "feel", they need to grow the F up and stop whining. Maybe if they were not still tied to mommies umbilical cord, the middle class areas would not be suffering so much attrition. Spoiled brats.

My niece is in the same crybaby situation. Went to The McDounough School, had to get married at the Ritz in Baltimore, both her and her husband make ~$80k/yr and live in Bethesda...renting a condo. Say they can't afford to buy a house. Why? because they want it all, right now....that entitlement BS. Yet they fly to Vegas once a month, and eat out at high end places every weekend.

Most Millennials go to McDonogh?

Ask CNN....you seem to think they have all the answers.

I am asking you. You are the guy that provided an example. The millennials I know are doing well.

Here is some data on why people may feel they are not making progress: https://www.pewresearch.org/fact-tank/2 ... r-decades/

Now that's funny...TLD fat cat 1% er...of course the millennials he knows are doing well

Persians too

Of course that was his point. Keep up.

Assuming TLD is indeed in the 1% (or 10%), I suspect he earned it.
How about you, tech, have you earned your way into the top 10%?