That's pretty interesting.

My first thought was that these guys can spend almost as fast as my ex wife

pweedas said..

Yes but it's all covered by 'macroeconomics' apparently, which is different to real economics.
So once the number gets big, it doesn't matter how big it gets really, because it will never be repaid.
They just wait until it gets unbelievably big and then they say that it's obvious they can never repay it, and so they don't.

I have a feeling it's getting close to that point now.

So what happens when it all goes pear shaped then?

evlPanda said..

Numbers aren't real. They are an abstract concept.

Of what?

I cant see how all this works.

evlPanda said..

Numbers are really set theory. "Something somethings". A Grouping mechanism.

The conspiracy theorist might be able to better explain how it's all made up. Federal reserve et al. It's actually true (before it gets emotional).

Fun fact: There are infinitely more numbers between whole numbers than there are whole numbers (like 1,7, 100 etc.)

Cool, but why didnt they just raise the ceiling before rather than freaking everyone out or was that the plan from the start?

This whole charade, which costs hundreds(?) of thousands of Americans their wages, cost the American economy so many hundreds of millions or billions, and made the country look dumb in the eyes of the world, is all down to the Tea Party element of the Repulicans.

The Tea Party is essentially all the Ray Hadleys and Alan Joneses of the world gathered together crying 'taxed enough already', 'curb government waste' etc. While also bringing other distasteful views along for the ride -sexist, racism, religion, climate change denial etc. They are particularly angry in the US because they have a black president, and most of them are southerners.

Cory St Bernardi, the erstwhile olympic medallist turned pollie who recently made headlines saying that same sex marriage is one short step away from legal bestiality, is trying his hardest to import the Tea Party to australia. Along with other brands of hard right protectionist religious lunacy.www.theglobalmail.org

They have a foothold, in the form of cando.
www.cando.org.au/

Patron is David Flint, who may or may not be Alan Jones's lover.
www.cando.org.au/about/team-cando

Were they competent in any way shape or form, they would be as dangerous for this country as the US tea party. Luckily for us, they're not.

evlPanda said..
...look at Japan.
Against all logic Japan has crippling deflation.

Yes. Look at Japan.
It's an excellent example of what not to do.

Up to 20 years ago they were rich enough to run around the world buying up anything and everything that had a 'for sale' sign on it,
including half of outr east coast properties, all on borrowed money.
Then they went broke.
They are still paying for it now after 20 years of hard slog.
They had to sell up most of what they bought and run back home.
Japan is still nowhere near as well off as it was 20 years ago.

What happens to the rest of the world if it gets really bad??

Panda... this will only upset you.


I was quite amazed by the comments of Steve Forbes... en.wikipedia.org/wiki/Steve_Forbes