MESSAGE
| DATE | 2017-01-30 |
| FROM | Rick Moen
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| SUBJECT | Re: [Hangout-NYLXS] country being deliberately monkeywrenched ?
|
Quoting Mancini, Sabin (DFS) (Sabin.Mancini-at-dfs.ny.gov):
> I have not been able to respond to a lot of things here because my
> personal email has not yet been added to the discussion list for some
> reason. Take note R.M. But, these Federal judges have been
> identified as ( 1 ? ) Ob am appointee in Brooklyn.
Oh, so the Judicial Branch's power of judicial review is to be set aside
if Sabin Mancini doesn't personally vet the judges' ideological
credentials? This is surely faster and more certain than, say, appelate
review to correct wrong decisions.
This must be the close cousin to Ruben's recently announced 'CAIR is
criminal if I don't like it' rule.
> You're talking about 100+ people out of 325,000 entries in one day !
Sure, what's the problem with a few overturns of core principles of the
Constitution? What could possibly go wrong?
> #2: The other elephant in the room- $20 Trillion in debt-
If you want to look at a meaningful figure, it's Federal debt held by
the public (i.e., excluding debt held by government accounts and
intragovernmental debt) as a percentage of GDP. There's a handy graph
on Wikipedia:
https://en.wikipedia.org/wiki/National_debt_of_the_United_States
(Your posting address suggests you're a finance guy or at least work with
some. I'm a finance guy as part of my prior profession as a staff
accountant at CPA firms.)
It's important to scale public debt against GDP because GDP quantifies
the public's resources to support that debt. Doing so also calls
attention to another important point: If the economy contracts, because
(e.g.) of a major recession, the effect of public debt magnifies.
Likewise (as you suggest), if interest rates rise, the burden increases.
As you will see on the graph, debt-to-GDP ratio has risen and should be
of concern.
> if the other countries stop giving us cheap credit....
Then they'd be subjecting themselves to a world of hurt, which is why
they don't do it. What's a better reserve currency, the Euro? ;->
'It's true that foreigners now hold large claims on the United States,
including a fair amount of government debt. But every dollar's worth of
foreign claims on America is matched by 89 cents' worth of U.S. claims
on foreigners. And because foreigners tend to put their U.S. investments
into safe, low-yield assets, America actually earns more from its assets
abroad than it pays to foreign investors. If your image is of a nation
that's already deep in hock to the Chinese, you've been misinformed. Nor
are we heading rapidly in that direction.'
http://www.nytimes.com/2012/01/02/opinion/krugman-nobody-understands-debt.html?_r=1&ref=paulkrugman
Read that link, if you'd like to understand how public debt actually
works.
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