A virgin on a round bed?
Congratulations, you have been Farnabied.
(my bold) I have read serious people suggesting that, as a one off, there is no reason that the Fed couldn’t just forgive the US debt it holds. I don’t have much of an economics background, but apparently it really is just bookkeeping entries (it’s not like the Fed invests the money it gets back into some other asset - the dollars just disappear?). And of course it’s a different thing for the Fed to forgive the debt as opposed to the government saying ‘fuck off’.
But as for the rest of it, yeah, that’s crazy town.
Tell China we just forgave our debt to them. How does that work?
It’s simple, really. All we need to do is take a page from Rosalie Goes Shopping: If you owe the credit company $10,000 and you can’t pay it, you have a problem. If you owe creditors $21T and can’t pay them, the creditors have a problem.
I’m pretty sure that’s where WF learned all he’ll ever need to know about world economics.
Ah, I’ll gladly pay you Tuesday for a pie today. That’ll work.
I’m the furthest thing from an economist, but it’s surely a lot more than that. The Fed has trillions in assets that it uses to manage monetary policy by buying and selling Treasury securities. Its liabilities include all the Federal Reserve notes in circulation (almost all paper money) and about a fifth of all bank accounts. Its hard to believe it could all just disappear without impact. But in any case, most other public debt is indisputably real and affects every sector of the financial system, public and private, and most intragovernmental debt represents social security and other trust funds.
Yeah, mostly this. Without trust and credibility the government couldn’t function and for all practical purposes would cease to exist, which is what anarcho-libertarian lunatics like WF actually want. All the civilization they need consists of canned beans, water, moonshine, and a cave stocked with guns’n’ammo.
Still, we need a counter-aphorism to explain a lot of what we see on this board:
“Never discount malice just because the stupidity is palpable and patently obvious.”
What’s the water for?
Baptisms.
I’ve no one to blame but myself for trying to reason, yet again, with that annoying twerp, L7.
No pie today. Only green jello with fruit cocktail added.
We’ll see what he says (if he says) anything about why the hell he started the thread and didn’t actually read any of it.
He is a fuckbucket extraordinaire. Citing IGN. Why do we have no smilies for this?
Ditka comes awfully close to admitting to trolling here.
Because he’s a troll. That’s the reason. There is no other explanation, he’s just a troll. He’s one of the most blatant trolls I can remember encountering on the SDMB, and the only mystery here is why this wasn’t immediately obvious to everyone else.
I don’t know what you are reading but it is nothing close to trolling. Septimus comes much closer to trolling using cherrypicked facts.
There was the whining about non-native English speaker, autistic, blah, blah, blah, and the complaining about how OTRU is a pit (heh) of negative judgmental poopy-heads. I decided to try cutting him some slack. All done. Troll. Bridge-dweller. He craves goats. Shit-stirrer. Troglodyte. May the sun strike him to stone.
At this point, I assume anyone who pops in and uses 4chan language and says they have autism is a troll.
He just plagiarized another source and said it was his. I found the original and posted it. Not sure what happens after that. Mockery?
Nice going there, Sunny!