Comments on: Economists Lead the Way to Calamity

By: Mick Grayston

Mick Grayston — Wed, 12 Aug 2009 15:13:07 +0000

Harry and Jason are the kind of witless, gullible citizens that politicians love.
“We’ll never have to pay it back!”

You idiots. The national debt is constantly being rolled over as older bills, notes and bonds mature. Debt service is currently over 4% of the budget and set to reach 8% sometime next year. You’re already paying it, with every payroll tax withholding, every hidden corporate tax, every time you buy a gallon of gasoline and in a thousand other places. And you’ll NEVER GET DONE PAYING IT.

By: islander

islander — Mon, 10 Aug 2009 17:25:36 +0000

I wonder how many other people “think” like Harry?

By: Snoop-Diggity-DANG-Dawg

Snoop-Diggity-DANG-Dawg — Mon, 10 Aug 2009 15:17:06 +0000

“…it seems that pouring on more debt to fix a debt ridden economy is like fighting a fire with gasoline. But somehow, it’s working.”

No it’s NOT, Jason. Even a heroin addict can remain ‘functional’ as long as the smack keeps flowing. But our stimulus money is going to run out eventually. Even if they pass a second stimulus, sooner or later it will run out.

Then comes the inevitable crash.

By: JMR spocknot

JMR spocknot — Mon, 10 Aug 2009 12:13:36 +0000

> Tesla
Immigrated at 30′ish. Died in NY at 86.
Apparantly quite a staunch patriot.
And when all of a nations taxes go toward paying the interest? Thats called tyrany.At which point not even america will be amercan anymore….Way to go George & Co.

By: Pete

Pete — Mon, 10 Aug 2009 09:41:47 +0000

>Nikola Tesla
I’m pretty sure he wasn’t American. Serbian I think.

“debt doesn’t have to be repaid”
So you beleve that it is possible to consume more than we produce, forever. If you can tell me how this works, please do, I’d love to quit my job and keep consuming forever.

By: JMR Spocknot

JMR Spocknot — Mon, 10 Aug 2009 08:19:53 +0000

Homer Winslow-Herman Melvill-Samuel Clements-Walt Whitman-Walt Disney-The Wright Brothers-Nikola Tesla-Henry Ford-Richard Feynman-Jimi Hendrix-
Sam Cook and Hank Williams to name but a few of the USA’s more enlightened progeny.
Ya gotta ask.HTF did the US end up with a semi literate nutjob like George W Bush for prez?

By: Thomas DeLaat

Thomas DeLaat — Sun, 09 Aug 2009 19:12:00 +0000

For those of you who think the debt never has to be repaid, please read The Creature From Jeckyll Island to discover exactly how this debt is serviced. Also note that the game can only go on as long as the interest on the debt is being serviced. Once the interest is unservicable, default is imminent and unavoidable.

By: HALLU

HALLU — Sun, 09 Aug 2009 09:27:25 +0000

We Japanese didn’t expect to receive
one more atomic bomb.
I mean “lost decade”.

And You too, receive another ” G “.

By: Lost & Found

Lost & Found — Sun, 09 Aug 2009 09:20:32 +0000

Hey, Paul:

Thank you for your great comment. By the way, history never repeats but it rhymes. (Mark Twain)

By: Harry

Harry — Sun, 09 Aug 2009 06:07:08 +0000

James R said: ” Harry: relatively speaking, you are paying $50 for a loaf of bread. But you don’t see it, because we’ve become so efficient at producing bread that the cost has been driven so low that even with our vastly-depreciated dollars, bread is still affordable.”

Yes, it is relative. But we make so much more money that keeps pace with the “price of bread”. So a $50 loaf of bread is only fifty bucks if incomes haven’t increased along with it. They have. So the bread is the same price, theoretically, that it was 10, 15, 20 years ago.