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Sun Oct 7, 2012, 03:06 AM

Gov. Romney says he won't borrow money from China to pay for PBS...

But he has no problem borrowing from China to pay for a five trillion dollar tax cut for the wealthy?

Thanks to Sesame Street, even I know $5 trillion is greater than $445 million!

smh

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Response to Drunken Irishman (Original post)

Sun Oct 7, 2012, 03:16 AM

1. worst part is we don't "borrow" from China

I wish people really understood what government "debt" is, what the "deficit" means and why it appears China "borrows" from us..

Long story short, China needs US debt as a place to stash the dollars we send them for the shit we buy from them... We're not borrowing anything...

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Response to smorkingapple (Reply #1)

Sun Oct 7, 2012, 03:46 AM

4. I have one of those on my Facebook page

Last month she went off when I posted the UE numbers. This month she was surprisingly quiet.

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Response to smorkingapple (Reply #1)

Sun Oct 7, 2012, 04:46 AM

6. China has stopped buying US Treasuries

 

China (and Russia) has actually been reducing it's holdings of US Treasuries from early/mid 2011.
China is trying to buy up various hard assets and other currencies.
(There is obviously a limit as to how fast they can move on this without causing significant financial market disruption.)

There is a recent unconfirmed report, that China has agreed to buy unlimited quantities of Russian oil. I.E. over and above what they need for domestic use.
Awaiting news as to whether this report is real or fake.
But China has agreed various non USD trade deals with multiple countries, over the last year.
E.G. with Russia, Japan, India and Australia.

In fact the sum total of US Treasuries held by foreign central banks is declining.

The Federal Reserve is buying up more than 50% of all new debt issued by the American government.
There is a shortage of other buyers.
Private interests are getting out of the Euro and buying US Treasuries as a safe haven.

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Response to smorkingapple (Reply #1)

Sun Oct 7, 2012, 06:04 AM

9. FINALLY

Finally someone who knows something about how the economy works. This single point should be front page news on why RMONEY should not be president. The US does not borrow anything money from any country. It doesn't borrow from the Chinese it doesn't borrow from the Russians. I can't think of a single talking point more important than this to bring down the curtain on the idea the RMONEY is some economy guru that knows more than the man on the street. In fact this shows just how unqualified he is to hold the office.

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Response to Drunken Irishman (Original post)

Sun Oct 7, 2012, 03:21 AM

2. Romney's as Idiot Drudge Bucket

in a "media" land where Lies Rule and Bullies prevail.

But, not on Social Media..

"By Friday morning, the counterargument that Obama had actually won on substance had taken root, with online sentiment now favoring the president:"

http://nbcpolitics.nbcnews.com/_news/2012/10/05/14244918-social-media-analysis-who-really-won-the-debate

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Response to Drunken Irishman (Original post)

Sun Oct 7, 2012, 03:35 AM

3. he's a chickenhawk who pimps for war

but he feels threatened by PBS

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Response to Drunken Irishman (Original post)

Sun Oct 7, 2012, 04:16 AM

5. Here's a CHART - the bottom section shows who holds our debt (China not as much as others)





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Response to Tx4obama (Reply #5)

Sun Oct 7, 2012, 04:54 AM

7. US National Debt from 1950

 

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Response to Tx4obama (Reply #5)

Sun Oct 7, 2012, 05:09 AM

8. China's holdings of UST's is now about $1.1tn

 

China has sold off about $100bn in the last year.

Russia reduced it's holdings from $176bn to $88bn between Oct 2010 to Dec 2011.

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Response to Drunken Irishman (Original post)

Sun Oct 7, 2012, 07:43 AM

10. And yet Romney is prepared to borrow circa $1.5tn p.a.

 

to fund his deficits, whist spending $1.675tn on the military.

Sheer lunacy.

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Response to Drunken Irishman (Original post)

Sun Oct 7, 2012, 12:03 PM

11. I can't believe this asshole went after Sesame Street again. They receive very little money from


the government. If PBS was closed down, which it won't be, Sesame Street would be picked up on cable in a nano second. They would probably get a higher price for their content too.

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Response to Drunken Irishman (Original post)

Sun Oct 7, 2012, 12:42 PM

12. PBS annual funding = 6 hours of Pentagon spending

What a clod. Why doesn't he just have a normal garage like everyone else. I'm sure what he would save on electic bill of having to haul cars up and down would be more than enough to cover PBS!

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Response to Drunken Irishman (Original post)

Sun Oct 7, 2012, 12:49 PM

13. He'll borrow money from China to pay for huge new mansions and car elevators

for hundred-millionaires and billionaires.

No thanks, Willard.

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Response to Drunken Irishman (Original post)

Sun Oct 7, 2012, 12:55 PM

14. This thread has been brought to you by the "greater than" sign.

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

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