Page 21 of 49 FirstFirst ... 111213141516171819202122232425262728293031 ... LastLast
Results 401 to 420 of 977

Thread: Business, Economics & Tax Policy 7: Workers of the world unite!

  1. #401

    Join Date
    Nov 1999
    Location
    Further on down the road
    Posts
    60,348

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by ScoobyDoo View Post
    What's America going to do when there is no one to trade with anymore? I know. Go bankrupt.
    For the economists out there, what would happen if every foreign government stopped buying US debt, dumped their US dollar reserves, and stopped accepting dollars to denominate transactions?

    Would it just create a buying opportunity for private entities and nothing would happen to the US economy? Or would we be well and truly f-cked?
    Cornell University
    NCAA Champion 1967, 1970
    ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
    Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018

  2. #402
    If Only You Knew MissThundercat's Avatar
    Join Date
    Feb 2005
    Location
    At a Coffee Shop or out running
    Posts
    40,086
    Quote Originally Posted by FadeToBlack&Gold View Post
    "Chief Knowledge Officer", lol. Nothing like resume padding to give yourself undeserved social media cred.

    Also, top comment candidate.
    Turns out, he WAS a legal researcher. And he just got fired.

  3. #403

    Join Date
    Dec 2001
    Location
    Living from my car
    Posts
    22,021
    Quote Originally Posted by ScoobyDoo View Post
    What's America going to do when there is no one to trade with anymore? I know. Go bankrupt.
    Lots of prime National Park Land that can be liquidated for dollars on the acre to cover the debt.

  4. #404
    RIP Liberalism 6/27/2018 ScoobyDoo's Avatar
    Join Date
    Sep 2001
    Location
    The 9th Circle
    Posts
    69,340

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by aparch View Post
    Lots of prime National Park Land that can be liquidated for dollars on the acre to cover the debt.
    We tried to sell offshore drilling spots recently. It ****ing failed. Epically.
    Originally Posted by dropthatpuck-Scooby's a lost cause.
    Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

    Glass at 0%: Another First Round Exit.

  5. #405

    Join Date
    Dec 2001
    Location
    Living from my car
    Posts
    22,021
    Quote Originally Posted by ScoobyDoo View Post
    We tried to sell offshore drilling spots recently. It ****ing failed. Epically.
    84,900,000 Acres of National Park Land x $3,000 low end price per acre as an estimate = $254,700,000,000

    Hmmm. Not going to be enough to wipe out the national debt.

  6. #406
    RIP Liberalism 6/27/2018 ScoobyDoo's Avatar
    Join Date
    Sep 2001
    Location
    The 9th Circle
    Posts
    69,340

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by aparch View Post
    84,900,000 Acres of National Park Land x $3,000 low end price per acre as an estimate = $254,700,000,000

    Hmmm. Not going to be enough to wipe out the national debt.
    That ain't ****.
    Originally Posted by dropthatpuck-Scooby's a lost cause.
    Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

    Glass at 0%: Another First Round Exit.

  7. #407
    there's a good buck in that racket.
    Join Date
    Feb 2005
    Posts
    40,237
    Quote Originally Posted by Kepler View Post
    For the economists out there, what would happen if every foreign government stopped buying US debt, dumped their US dollar reserves, and stopped accepting dollars to denominate transactions?

    Would it just create a buying opportunity for private entities and nothing would happen to the US economy? Or would we be well and truly f-cked?
    Why would a govt want to throw away their assets? Those $$$s are worth something.

    Of course they only cost our govt 30 cents to make $100 bill
    So however many they want, the treasury will print them up

  8. #408
    wubba lubba dub dub
    Join Date
    Nov 2001
    Location
    North Haverbrook
    Posts
    30,876

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by Kepler View Post
    For the economists out there, what would happen if every foreign government stopped buying US debt, dumped their US dollar reserves, and stopped accepting dollars to denominate transactions?

    Would it just create a buying opportunity for private entities and nothing would happen to the US economy? Or would we be well and truly f-cked?
    First, the debtholders would experience issues with getting a favorable return on their investment. Making a statement against the US by taking such an action would require severe commitment to the cause, to the tune of billions or trillions in lost investment capital.

    Second, the USD would tank. With all the US debt in the open market, the USD would have so much supply with so little demand that our currency wouldn't be worth much at all. We would see a lot of inflation as all foreign made goods would skyrocket in price, as would those domestic goods with foreign made parts. Really, inflation would kill the public when it came time to replace any consumer electronics, automobile, or clothing. At the same time, American producers of exported goods would be hog heaven as their goods could reach new consumers - those who couldn't afford these goods in the past. Assuming the foreign debtholders could handle the investment write-off, foreign consumers would be in a much better situation.

    Adding to our issues, with the USD being so depressed, a new currency would soon become the international standard, used for trading oil and various other goods on the open markets. That would free up the US to practice a more straightforward monetary policy.
    "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

    "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

    "Good news! We have a delivery." Professor Farnsworth

  9. #409

    Join Date
    Nov 1999
    Location
    Further on down the road
    Posts
    60,348

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by mookie1995 View Post
    Why would a govt want to throw away their assets?
    They're not burning them they're selling them off -- turning them into other things of value. The question I'm asking is what would happen if all other governments decided, for whatever reason, that they wanted to get out of US debt and dollars. Let's assume private holders don't necessarily make the same calculation. The conventions of economics still hold, but governments are no longer in the market for US securities.
    Cornell University
    NCAA Champion 1967, 1970
    ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
    Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018

  10. #410

    Join Date
    Nov 1999
    Location
    Further on down the road
    Posts
    60,348

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by St. Clown View Post
    First, the debtholders would experience issues with getting a favorable return on their investment.
    Is US debt really the only safe harbor on the planet?

    If that's true, it doesn't sound like the global economy is very successful.
    Cornell University
    NCAA Champion 1967, 1970
    ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
    Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018

  11. #411

    Join Date
    Nov 1999
    Location
    Further on down the road
    Posts
    60,348

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by St. Clown View Post
    Making a statement against the US by taking such an action would require severe commitment to the cause, to the tune of billions or trillions in lost investment capital.
    Huh. The US is too big to fail.
    Cornell University
    NCAA Champion 1967, 1970
    ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
    Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018

  12. #412
    wubba lubba dub dub
    Join Date
    Nov 2001
    Location
    North Haverbrook
    Posts
    30,876

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by Kepler View Post
    Is US debt really the only safe harbor on the planet?

    If that's true, it doesn't sound like the global economy is very successful.
    No, it's not the only good government debt for foreign nations to invest. There's just so much of it, and we do have a good credit rating. For now. Also, given the size of our economy, nations like China would buy into US debt as a means of greasing the wheels in gaining entry into the US for their own nationals to purchase assets here and start doing business. I don't know how well that works these days as it's more like purchasing specific pols and not US debt.

    Quote Originally Posted by Kepler View Post
    Huh. The US is too big to fail.
    Yes, for all intents and purposes, it is.
    "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

    "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

    "Good news! We have a delivery." Professor Farnsworth

  13. #413
    there's a good buck in that racket.
    Join Date
    Feb 2005
    Posts
    40,237

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Dudes!!!

    There is a reason the US is the planets protector

  14. #414
    RIP Liberalism 6/27/2018 ScoobyDoo's Avatar
    Join Date
    Sep 2001
    Location
    The 9th Circle
    Posts
    69,340

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by mookie1995 View Post
    Dudes!!!

    There is a reason the US is the planets protector
    No.
    Originally Posted by dropthatpuck-Scooby's a lost cause.
    Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

    Glass at 0%: Another First Round Exit.

  15. #415
    there's a good buck in that racket.
    Join Date
    Feb 2005
    Posts
    40,237

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    China exists to sell to the US market.

    Their factories would grind to a halt if the US was unable to buy.

  16. #416

    Join Date
    Nov 1999
    Location
    Further on down the road
    Posts
    60,348

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by mookie1995 View Post
    Dudes!!!

    There is a reason the US is the planets protector
    https://www.youtube.com/watch?v=scK_z4YKLf8
    Cornell University
    NCAA Champion 1967, 1970
    ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
    Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018

  17. #417
    unofan's Avatar
    Join Date
    Jul 1999
    Location
    Omaha, NE, USA
    Posts
    18,958
    Quote Originally Posted by Kepler View Post
    Huh. The US is too big to fail.
    You owe the bank 100, the bank owns you.

    You owe the bank 10 trillion, you own the bank.

  18. #418

    Join Date
    Nov 1999
    Location
    Further on down the road
    Posts
    60,348

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by mookie1995 View Post
    China exists to sell to the US market.

    Their factories would grind to a halt if the US was unable to buy.
    The Europeans have a long and storied history of buying good made by slave labor.

    Maybe the Western Hemisphere is temporary and in 2092 it wink back outs through a wormhole. The Azores are just a couple hundred miles east of Japan. And... begin!
    Last edited by Kepler; 06-07-2018 at 04:10 PM.
    Cornell University
    NCAA Champion 1967, 1970
    ECAC Champion 1967, 1968, 1969, 1970, 1973, 1980, 1986, 1996, 1997, 2003, 2005, 2010
    Ivy League Champion 1966, 1967, 1968, 1969, 1970, 1971, 1972, 1973, 1977, 1978, 1983, 1984, 1985, 1996, 1997, 2002, 2003, 2004, 2005, 2012, 2014, 2018

  19. #419
    DYKWIA? FadeToBlack&Gold's Avatar
    Join Date
    Apr 2007
    Location
    An Airport Near You
    Posts
    28,856

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by Kepler View Post
    I've never seen FG. After this clip I want to watch all of it in order.
    Quote Originally Posted by unofan View Post
    Like most comedies, Family Guy is hit or miss. There's about a quarter that is poignant and hilarious, about a quarter that completely misses the mark, and about 50 % that's good for a chuckle and not much more.
    But at least they're self-aware.
    Michigan Tech: "Working with scraps and guys from places so remote that Houghton seems like a metropolis"

  20. #420
    Registered User
    Join Date
    Jun 2010
    Posts
    3,008

    Re: Business, Economics & Tax Policy 7: Workers of the world unite!

    Quote Originally Posted by Kepler View Post
    Huh. The US is too big to fail.
    That's pretty much the basis for MMT as far as I can tell.

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •