Peter Brown wrote: ↑Mon Jan 13, 2020 8:02 am
a fan wrote: ↑Sun Jan 12, 2020 7:58 pm
MDlaxfan76 wrote: ↑Sun Jan 12, 2020 7:34 pm
Can you imagine Pete's banker's reaction if he learned how cavalier he is about repayment of debts?
He still hasn't explained who it is he thinks the US Govt. will borrow money from after we intentionally default on our past loans.
Pretty sure he regrets making that post. He was just thinking out loud, if you ask me....and didn't think it through.
I don't "regret" making my point.
To repeat my point (which seemingly flies right past you): the US Government is not defenseless coming up with a manner(s) to avoid a complete default or at least arrange a pre-packaged bankruptcy where all parties come out whole. The US has many assets and many ways to configure a solution. As I mentioned, some very smart money folks recently told me why crypto is a solution to the US dollar. That is but one possible avenue.
MD keeps asking what are the assets of the US Government? I can't find a list. What I suspect is we way-undervalue real estate assets such as the Pentagon, which occupies perhaps the most valuable piece of real estate in NoVA. I'd like to see how much the government values that real estate, which by the way is an anachronism anymore as Defense imo should be located fully to places like Florida or Norfolk VA.
https://fiscal.treasury.gov/reports-sta ... heets.html
Do I think Trump can figure out how to restructure? Perhaps; I don't doubt this guy's ability to figure out ways out of holes (he has done it 2x before). He wouldn't need to do much more than have china settle its holdings for a better tariff rate (even dropping $1 trillion off the debt might kickstart other ideas). Could Bloomberg? Maybe, though I would also likely disagree with his formula. Would the Democrats be helpful? lol...like pouring gasoline onto a fire.
Yes, I keep asking that question because you made a flat out ridiculous statement. Core to your "idea".
My first response was to ask whether you were suggesting the sale of all the national parks (lots of real estate but a drop in the bucket compared to the national debt). You then said there were lots of other assets...I asked, really, what are they? You then you attempted to back-up that statement, crowing as if you did, by posting a link that showed how wealthy the country is (true). But you had not bothered to read the table...had you done so, you would have seen that the US FEDERAL GOVERNMENT has an enormous negative net worth.
so, what are all these assets, Pete?
(Hey, it's ok to back off and admit it was a fatally flawed 'idea'.)
No Bloomberg isn't an idiot. He wouldn't even remotely suggest defaulting on our debt.
It's an enormously stupid "idea". And he's not stupid.
Yes, Trump has multiple times declared bankruptcy losing enormous sums of his investors' money. He also cheated on his taxes, misstated his assets to bankers, etc, etc. Stiffed his contractors. Defrauded consumers. Self-dealt with his "charity".
Eventually no US banker would lend to him. But the bank that was getting rich by laundering Russian money said yes.
But there ain't enough money needing laundering to bail out the US gov't.
Listen PB, how about just start spending closer to our revenue (taxes)?
We don't need to default on anything, we just need to slow down the rate of deficit spending, especially in strong economic times when fiscal stimulus isn't needed.