bbfreeburn
Active Member
"This is the United States government. First of all, you never have to default because you print the money,"
Isn't that nice?
Isn't that nice?
Trump's understanding of economics
- Thread starter bbfreeburn
- Start date
AlwaysWrite
Addicted Member
Dear bbfreeburn:
Here's what Trump actually said ...
"If interest rates go up, we can buy back debt at a discount if we are liquid enough as a country. People say I want to default on debt (but) these people are crazy. First of all, you never have to default because you print the money, I hate to tell you, so there is never a default. It was reported in the New York Times that I want to default on debt -- you know, I am the king of debt, I love debt -- but debt is tricky and it's dangerous. But let me just tell you. If interest rates go up and bonds go down, you can buy debt. That's what I'm talking about. So here is the story, if we have an opportunity where interest rates go up and you can buy back debt at a discount. I always like to be able to do that if you can do that. That's all I was talking about. They have it like I'm going to go back to creditors and I am going to renegotiate or restructure debt. It's ridiculous."
I believe you are intelligent enough to realize that your original posted quote is misleading. Trump didn't say that he would want to default, and he's certainly correct that the U.S. COULD avoid actual default by printing money, but obviously that would be extremely bad, if not devastating, for the economy. And regardless of who is elected president in 2016 and beyond, a potential default will likely have to be dealt with as the national debt rapidly soars over $20 trillion.
Here's what Trump actually said ...
"If interest rates go up, we can buy back debt at a discount if we are liquid enough as a country. People say I want to default on debt (but) these people are crazy. First of all, you never have to default because you print the money, I hate to tell you, so there is never a default. It was reported in the New York Times that I want to default on debt -- you know, I am the king of debt, I love debt -- but debt is tricky and it's dangerous. But let me just tell you. If interest rates go up and bonds go down, you can buy debt. That's what I'm talking about. So here is the story, if we have an opportunity where interest rates go up and you can buy back debt at a discount. I always like to be able to do that if you can do that. That's all I was talking about. They have it like I'm going to go back to creditors and I am going to renegotiate or restructure debt. It's ridiculous."
I believe you are intelligent enough to realize that your original posted quote is misleading. Trump didn't say that he would want to default, and he's certainly correct that the U.S. COULD avoid actual default by printing money, but obviously that would be extremely bad, if not devastating, for the economy. And regardless of who is elected president in 2016 and beyond, a potential default will likely have to be dealt with as the national debt rapidly soars over $20 trillion.
bbfreeburn
Active Member
Where did I say he would want to default? I thought the idea was to quit printing money; not in his world it would seem.
bbfreeburn
Active Member
That's my point Greg. The right has been accusing the left of just printing money to avoid economic problems, for years, not just Obama. And Trump is always facetious. Just one reason not to elect him.
Greg T.
The Jizz Slinger
That's the most important reason TO vote for him. He's not afraid to expose the current "business as usual" club that has been meeting in DC for the last 50+ years. Democrats hate him because he reveals all the lying and cheating that seems to be their way of life, and how hypocritical they are when they talk about evil corporations. Republicans hate him because he threatens to disrupt their good ole boy "keep it in the family" club, and failure to make good on promises to take care of vets and clean up the corruption. Trump is, BY FAR, the most intelligent and successful business man we've ever had run for the presidency. Liberals hate him because he's rich, but they don't stop to think that a good economy can make them much better off as well. Face it, we have MANY complex problem currently bombarding this country, but in order to even think of fixing them we need money, much more efficient use of our current revenues, and tighter more efficient use of our entire tax system. Who better to do that a man who completely understands the financial laws and how to take advantage of them? Not many people are capable of putting this country's economic woes back on line and restructuring it's debt. Trump can.
bbfreeburn
Active Member
I'm sorry Greg, but I don't think we want to elect a clown as President, at least not intentionally.
Greg T.
The Jizz Slinger
As opposed to a known mooch and admitted socialist who wants to turn us into Cuba or Greece while destroying the entire free economic system? Or maybe a lying, corrupt murderer who has broken NUMEROUS laws by bouncing classified government secrets off of a private email server, lying about it, tried to cover it up and then laughed about the investigation while lying to the parents of 4 dead Ambassadors? No, Bob. I'm sorry. I'll take an extremely successful, honest businessman who has no aspirations of being a career politician any day of the week.
AlwaysWrite
Addicted Member
... and so will I.
radioactive
Member
Afuckinmen to that! I would rather see the socialist Bern elected than the liar in chief Helliary.