tag:blogger.com,1999:blog-3758330678390419129.post462298714276278415..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Stockman: "Trump Will Create A Debt Crisis Like Never Before"Robert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-3758330678390419129.post-42588969881989562272017-03-02T21:27:08.889-05:002017-03-02T21:27:08.889-05:00I like David Stockman; a bright and sensible man.I like David Stockman; a bright and sensible man.The Lab Managerhttps://www.blogger.com/profile/17314871529571094106noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-51993487846694943232017-03-02T13:46:05.300-05:002017-03-02T13:46:05.300-05:00I note that the video on YouTube has more thumbs d...I note that the video on YouTube has more thumbs down than thumbs up. The Trumpsters are up in arms because someone is picking on the God-Emperor. Just a spending slashing hard money nobody like Stockman. <br /><br />Mr. Wenzel was correct in predicting that the Trumpsters would not be inclined to hold the God-Emperor in check.Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-55362624607015565532017-03-02T13:42:22.776-05:002017-03-02T13:42:22.776-05:00According the MMTers, the government sells the bon...According the MMTers, the government sells the bonds, gets the money and spends it fast (because otherwise society would crumble under laissez faire). When it buys back the bonds, it uses newly created computer money which did not exist before, which is obviously cost-free. My kids tell me they can't tell when I'm joking.Bob Roddishttps://www.blogger.com/profile/17263804608074597937noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-65091910063419938302017-03-02T12:11:15.737-05:002017-03-02T12:11:15.737-05:00About 2.8 trillion is held by Federal Reserve Bank...About 2.8 trillion is held by Federal Reserve Banks. In theory, you could drop the intra-government debt too, if you're looking forward to interesting accounting tricks in the next 25 years. Bradleyhttps://www.blogger.com/profile/17548878643369429783noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-14331898017448075332017-03-02T07:34:02.330-05:002017-03-02T07:34:02.330-05:00Other than the debt owned by China and other count...Other than the debt owned by China and other countries, how much is 'owned' by the federal reserve? Can it simply be expunged from the books. It was created or purchased out of thin air and could go back to where it came.<br /><br />I'm just asking the question. I to would prefer Constitutional money and a more honest accounting system. The Lab Managerhttps://www.blogger.com/profile/17314871529571094106noreply@blogger.com