SuzukiSavage.com - ...and this is where I just weep for my country

Pine

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...and this is where I just weep for my country
07/28/13 at 18:39:22

So I was in a hotel room and had the TV going for background noise.. "Meet the Press" The host ( David Gregory) was interviewing Treasury Secretary Jack Lew, when I happend to SEE the secretary say this:
"We can't cut our way to prosperity"

The entire show is here: http://presspass.nbcnews.com/_news/2013/07/28/19734664-watch-meet-the-press-m...

Basically the discussion was about the Dems( White house) versus the repugs...and who will shut down the country if they dont get their way.

But this one statement... this evil one statement says that that is wrong with washington... "We can't cut our way to prosperity"

So does that mean we can spend our way to prospertity? Really?? How does that work?
Spend $100 at Walmart.. I get $1000??
Spend $2000 on a Savage get $10,000 towards a car?
Buy a house and retire?
I really really want to know how I can spend myself rich? Funny how I have never seen another country make that work... Though I hear they keep trying...

By the way he got everything else wrong too:
No, I don't care how my kids will pay for college.. I want to know how they will earn a living
No, i dont' worry about my healthcare being secure... I don't give a darn about anything being secure except from the government... I worry about paying for the excesses of government!!!
NO, I sure as hell don't want the government to insure my home is secure... what the hell is all this worry about my security???
All I want them to do is only spend what they tax... and not poke their nose any further than needed on anything

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oldNslow Serious Thumper Offline SuzukiSavage.com Rocks! Posts: 2679 Rochester, NY Gender:	Re: ...and this is where I just weep for my countr Reply #1 - 07/28/13 at 19:05:59 Quote: I really really want to know how I can spend myself rich? You can't. But that's not the point. The proponents of these economic policies can, and are. You're not supposed to get rich. They are. And when everything goes to hell do you think Jack Lew will suffer?
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Dane Allen Serious Thumper Offline Carpe Diem!! Posts: 1217 Riverside, CA Gender:	Re: ...and this is where I just weep for my countr Reply #2 - 07/28/13 at 22:28:12 He's a U.S. Treasury Secretary, and a liberal, you can't expect him to know anythying about finance!!! They should be asking him about Joy Behar's sex change 50 years ago and where to buy great blow.
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Serowbot

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OK.... so what's the
speed of dark?

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Re: ...and this is where I just weep for my countr
Reply #3 - 07/28/13 at 22:31:06

Stop crying...

... and, in a way, yes...
If you can borrow money at less than your prime interest rate,.. you can make money...
Especially if you have foolishly, put off doing necessary things, like fixin' yer' roof (infrastructure) and the opportunity is there to borrow, at less than you can get in interest on your money,... than it is a wise investment...
This is money that must be spent... on things that must be done... You can do it now, cheaper than later...

Credit card companies are currently offering to carry the balance of your old credit card for 0% if you switch the balance to theirs...
This is a losing proposition... businesses do this... They are betting that you can't resist adding to it...
You can make money at this...
Buy the new roof you need, and put it on your credit card,.. take the offer of 0%... then pay it off...
just keep your money in the bank,... and pay the minimum...
Inflation happens... they take the hit...

This is not a direct analogy,.. but, money that must be spent, must be spent... Spending now, saves the cost of inflation... and rates are low now...
Get your house in order... prices will only go up...

When credit is lower than inflation,... it is a debt economy...
You can go with it, and make money, or watch it happen and cry...
I have a credit card that is payed off completely (automatically by my bank) on the last day it is due, every month... meanwhile my money makes interest in my savings... The more I use that card, the more I save...
...(as long as I don't spend foolishly)... I make money, by spending on credit...
With my budget,... that's only a small amount,... but on a national scale it is billions...

Going to war, on false pretense, and giving out no_bid contracts to your VP's company, and excluding this from your budget... wasn't good economics... not for the country anyway...
... but these things must be paid for... you must pay for your mistakes...
... and all the necessary things you put off to be stupid must be paid for too...
You can do it now,.. when money is cheap... or put it off and hope for a miracle...
Pass it on to your children...

Sometimes spending now,.. is saving for the future...

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Ludicrous Speed !... ... Huh

...

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WebsterMark

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Re: ...and this is where I just weep for my countr
Reply #4 - 07/29/13 at 05:30:00

Pine, was this Lew's way of piggy-backing on Cheney's statement of a few years ago that we can't conserve our way to energy independence? If so, Lew's either a complete idiot (which he's not)or is using political speak to fool the masses. Cheney's statement was correct, a nation the size of ours who needs energy to grow cannot save enough, we must produce. However, government spending is different. We can cut our way to prosperity. Cutting spending lowers taxes which allows individuals to recirculate that money in whatever manner that suits the, individually. The "Invisible Hand" theory which is how the US grew to what we are today. Give people back their money and get out of the way.

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oldNslow

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Re: ...and this is where I just weep for my countr
Reply #5 - 07/29/13 at 05:48:54

Serobot wrote:

Quote:

The more I use that card, the more I save...
...(as long as I don't spend foolishly)... I make money, by spending on credit...

Sure. But you borrow that money with the intention of paying back the loan with money that you actually earn. Our government has no intention of doing that. They simply print more, which makes your money worth less, or borrow more, to pay whats due right now. That strategy wouldn't work for you or me, we can't print dollars;and there is a limit to how much we can borrow without paying it back;eventually our credit scores go in the crapper and the spigot gets shut off. And it isn't going to work forever for any government either. Take a look at Spain, Greece etc.

But Lew and his cronies don't care. They'll be just fine. They know perfectly well what they are doing and what the consequences are going to be.

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srinath

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Re: ...and this is where I just weep for my countr
Reply #6 - 07/29/13 at 08:10:53

Pine - you are not the federal gubbamint.
You spend more than you take in, you go broke ...

The federal govt has the ability to print $$$ ...
They decide we need this road from here to there, and that will help the citizens of these places, the ycan simply build that road and print the $$ for that ...
You then get to drive on the aforementioned road, get to work in 20 mins instead of 40 and get your added time the way you want ...

You can cut your way to prosperity, in fact you have to in a lot of cases, but you too can spend your way to prosperity, say you want to be an expert savage mechanic, you buy a few dead savages but a few 100's in tools and work day and night ... then you charge me 100/hr to fix my savage. There, you've spent the $ got your self a skill and make $$$ on that skill. I do the same with audio, motorcycles etc etc.

The feds, dont have to, the govt is there to serve the people, and they dont do that neccesarily by serving the people and sending you the bill right on the spot.

Since everything in the country is in 1 or anothe rstate, the best thing you can get washington to do is, to spend evenly across the country ... not like now where NJ spends the $$$ for SC to collect welfare.

Cool.
Srinath.

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justin_o_guy2 Serious Thumper Offline What happened? Posts: 55279 East Texas, 1/2 dallas/la.	Re: ...and this is where I just weep for my countr Reply #7 - 07/29/13 at 12:06:48 & You, S, fail to grasp the LAWS of economics.. Just because its a nation doesnt mean the laws of gravity are cancelled,, or economics.
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srinath Serious Thumper Offline I love YaBB 1G - SP1! Posts: 5349	Re: ...and this is where I just weep for my countr Reply #8 - 07/29/13 at 12:16:01 justin_o_guy2 wrote on 07/29/13 at 12:06:48: & You, S, fail to grasp the LAWS of economics.. Just because its a nation doesnt mean the laws of gravity are cancelled,, or economics. You fail to grasp the difference between a person and a country. Cool. Srinath.
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justin_o_guy2

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Re: ...and this is where I just weep for my countr
Reply #9 - 07/29/13 at 12:44:40

Really? Ill bet good $$$ Im WAY more educated in the realm of economics than you are. You go ahead & pretend nations cant go broke, while we have news on Greece.. How about Big Cities? They canm go broke, cant they? Your vision is what needs cleared up. Mine is quite clear,, I have a real good grasp of whats happening. Your eyes see what theyve been told to see. You SAY youre not a democrat, but everything you say IS from their talking points except your ideas on guns. You are a little more conservative inb that area, but you are not a conservative, at all.,not in the the overall ideology you present,

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The people never give up their liberties but under some delusion.- Edmund Burke.

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Dane Allen

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Re: ...and this is where I just weep for my countr
Reply #10 - 07/29/13 at 13:08:13

justin_o_guy2 wrote on 07/29/13 at 12:44:40:

Really? Ill bet good $$$ Im WAY more educated in the realm of economics than you are. You go ahead & pretend nations cant go broke, while we have news on Greece.. How about Big Cities? They canm go broke, cant they? Your vision is what needs cleared up. Mine is quite clear,, I have a real good grasp of whats happening. Your eyes see what theyve been told to see. You SAY youre not a democrat, but everything you say IS from their talking points except your ideas on guns. You are a little more conservative inb that area, but you are not a conservative, at all.,not in the the overall ideology you present,

Yeah, not much to add here except the fall of Rome and the dark ages.

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Pine

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Re: ...and this is where I just weep for my countr
Reply #11 - 07/29/13 at 14:59:58

srinath wrote on 07/29/13 at 08:10:53:

Pine - you are not the federal gubbamint.
You spend more than you take in, you go broke ...

The federal govt has the ability to print $$$ ...
They decide we need this road from here to there, and that will help the citizens of these places, the ycan simply build that road and print the $$ for that ...
You then get to drive on the aforementioned road, get to work in 20 mins instead of 40 and get your added time the way you want ...

You can cut your way to prosperity, in fact you have to in a lot of cases, but you too can spend your way to prosperity, say you want to be an expert savage mechanic, you buy a few dead savages but a few 100's in tools and work day and night ... then you charge me 100/hr to fix my savage. There, you've spent the $ got your self a skill and make $$$ on that skill. I do the same with audio, motorcycles etc etc.

The feds, dont have to, the govt is there to serve the people, and they dont do that neccesarily by serving the people and sending you the bill right on the spot.

Since everything in the country is in 1 or anothe rstate, the best thing you can get washington to do is, to spend evenly across the country ... not like now where NJ spends the $$$ for SC to collect welfare.

Cool.
Srinath.

Sri thanks for the post..

Well a few points:
First the exceedingly lame TV host failed to follow up on this statement... so that could be the direction he was heading ( investment).

Second, your example is investment, which I am all for... but by in large government of the past 20 years has NOT been about investment, nor are investment costs a major contributor to the deficit. And given the overall position from the TV show, he was talking more about spending just to spend as a driver of the economy. The money often is NOT spent on investment... its just spent..(example would be the "big deal" about the unemployment dip a few months ago... the cause... the federal government hired a bunch of folks to do the census for a few weeks)

Third, with regard to printing of money. That function DOES hurt all middle class (actually everyone... but the middle class feel it the most). Money in and of itself is NOT wealth, even the government recognizes that function but are more and more willing to use it anyway. A citizens equivalent is to go out and rob as many people as he can.

As for getting the fed to even out their spending... I would be happy ... if they just STOPPED a bunch of it... I really don't want to be the state that made money on seeing if fish can get drunk (actual grant) or the bridge to nowhere. Being the poorest state in the nation is bad enough. Tongue

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justin_o_guy2 Serious Thumper Offline What happened? Posts: 55279 East Texas, 1/2 dallas/la.	Re: ...and this is where I just weep for my countr Reply #12 - 07/29/13 at 15:16:57 Every dollar created creates a debt. Learn how the fed works, then talk,
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Midnightrider Serious Thumper Offline Alliance Member Posts: 3244 Winston Salem, NC	Re: ...and this is where I just weep for my countr Reply #13 - 07/29/13 at 17:47:20 The Federal Reserve is printing 85 billion dollars a month ,Its their so called way of saving the economy but all is doing is weakening the dollar
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srinath

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Re: ...and this is where I just weep for my countr
Reply #14 - 07/30/13 at 08:08:50

justin_o_guy2 wrote on 07/29/13 at 15:16:57:

Every dollar created creates a debt. Learn how the fed works, then talk,

No it does not. If it is a bond, then the idea is to borrow, that does create a dollar of debt. Printing dollars does not "create debt"

Midnightrider wrote on 07/29/13 at 17:47:20:

The Federal Reserve is printing 85 billion dollars a month ,Its their so called way of saving the economy but all is doing is weakening the dollar

Correct. And it hurts those on fixed income and those with dollar denominated savings. However the reason they are doing it to to cause inflation, and keep deflation away. Deflation is death, of course it is not death to those that have savings or fixed income, but for the rest of us, it is.

Cool.
Srinath.

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