tag:blogger.com,1999:blog-6244999628674918029.post8312557083905764559..comments2024-03-29T08:01:26.952-05:00Comments on Bayou Renaissance Man: Economic updatePeterhttp://www.blogger.com/profile/10595089829300831372noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-6244999628674918029.post-25287553155512523462013-04-06T22:34:12.923-05:002013-04-06T22:34:12.923-05:00I'm not anybody's idea of a financial expe...I'm not anybody's idea of a financial expert, but I believe this particular theory holds that removal of government bond debt, along with the "money" used to purchase it, allows the percentage of current revenue currently going to bond repayment (debt service) to be applied to current expenses instead.<br /><br />The damage isn't to the economy as a whole so much as it is to the governments ability to sell bonds in the future (which admittedly does affect the economy generally to some degree). As I understand it, this is proposed as a mechanism whereby government can repudiate it's debt that is essentially owed to itself so as to reduce expenditures relative to GDP. The reduction in bond sales thereafter is supposed to be a feature as it reduces the governments ability to simply continue the cycle quite so easily.<br /><br />I think I have more faith in the innovative nature of political greed than this theory allows for, but it is an interesting thought experiment on the nature of debt if nothing else.Will Brownhttps://www.blogger.com/profile/13454533450309633627noreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-46021134878780884602013-04-06T21:45:30.641-05:002013-04-06T21:45:30.641-05:00I'd strongly encourage everyone to watch and t...I'd strongly encourage everyone to watch and take heed what Ann Barnhardt is stating in her 8 part youtube video series "The Economy Is Going to Implode". It's a difficult decision to make to take money out of your retirement plan, having to pay penalty and taxes, but is she's right as so many others... What's the cost of having none of your money? <br /><br /> http://www.youtube.com/watch?v=7dFVFJ0iRRAAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6244999628674918029.post-36857541638521625572013-04-06T20:28:32.027-05:002013-04-06T20:28:32.027-05:00I made the comment more than once how much of that...I made the comment more than once how much of that money that was "lost" was diverted to Obama's reelection campaign.I remember reading that before the election of 2012 Obama had over a billion dollars and Corzine had "lost almost a billion dollars" Makes me wonder.....MrGarabaldihttps://www.blogger.com/profile/05768774166065615995noreply@blogger.com