For those concerned about US debt

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For those concerned about US debt

Postby BigBallinStalin on Fri Mar 22, 2013 3:08 pm

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Re: For those concerned about US debt

Postby Ace Rimmer on Fri Mar 22, 2013 3:17 pm

It took me 4 minutes.

The gist: "We don't know what the f*ck is going to happen in the future. It could be all rosy if we have great growth or it could go further to shit".
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Re: For those concerned about US debt

Postby PLAYER57832 on Fri Mar 22, 2013 3:29 pm

No, the giist is that the CBO is full of ... sh*t, so ignore them.

The problem? They don't get into anything about WHY those figures differ, at the root, or the many outside factors that will have very critical impacts.
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Re: For those concerned about US debt

Postby BigBallinStalin on Fri Mar 22, 2013 6:39 pm

PLAYER57832 wrote:No, the giist is that the CBO is full of ... sh*t, so ignore them.


Exactly, but the people who won't ignore them are the ones who should. :D
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Re: For those concerned about US debt

Postby BigBallinStalin on Fri Mar 22, 2013 6:40 pm

Also, correcting for the rosy predictions using modest assumptions reveals terrible outcomes which may occur 20 years sooner than the CBO predicted.
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Re: For those concerned about US debt

Postby rdsrds2120 on Sat Mar 23, 2013 3:06 am

We have to hide this thread before Scotty gets back, haha.

BMO
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Re: For those concerned about US debt

Postby greenoaks on Sat Mar 23, 2013 4:16 am

rdsrds2120 wrote:We have to hide this thread before Scotty gets back, haha.

BMO

or keep the thread and don't let Scotty back
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Re: For those concerned about US debt

Postby PLAYER57832 on Sat Mar 23, 2013 9:43 am

BigBallinStalin wrote:
PLAYER57832 wrote:No, the giist is that the CBO is full of ... sh*t, so ignore them.


Exactly, but the people who won't ignore them are the ones who should. :D

No, the folks who want to criticize need to come up with better data --- or at least pay attention to what the data actually says instead of what they want to claim it says..

And I don't agree that CBO data is garbage, its just limited in its scope.
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Re: For those concerned about US debt

Postby BigBallinStalin on Sat Mar 23, 2013 1:35 pm

PLAYER57832 wrote:
BigBallinStalin wrote:
PLAYER57832 wrote:No, the giist is that the CBO is full of ... sh*t, so ignore them.


Exactly, but the people who won't ignore them are the ones who should. :D

No, the folks who want to criticize need to come up with better data --- or at least pay attention to what the data actually says instead of what they want to claim it says..

And I don't agree that CBO data is garbage, its just limited in its scope.


Oh, sure, can't say anything until you spend millions of dollars collecting original data. Makes total sense.

I'd love for you to expand on that.
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Re: For those concerned about US debt

Postby Nola_Lifer on Mon Mar 25, 2013 10:02 pm

greenoaks wrote:
rdsrds2120 wrote:We have to hide this thread before Scotty gets back, haha.

BMO

or keep the thread and don't let Scotty back


+1haha
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Re: For those concerned about US debt

Postby Fruitcake on Tue Mar 26, 2013 3:09 am

BigBallinStalin wrote:Also, correcting for the rosy predictions using modest assumptions reveals terrible outcomes which may occur 20 years sooner than the CBO predicted.


I may be wrong but it all looks pretty imminent.

BBS, what do you think should happen to stop this from occurring?
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Re: For those concerned about US debt

Postby _sabotage_ on Tue Mar 26, 2013 6:58 am

For those concerned about US debt, don't worry. The Fed's partial audit revealed we have made more than 16 trillion in unauthorized loans to banks far and wide. Worry that your savings will be devalued and buying power dashed.
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Re: For those concerned about US debt

Postby Gillipig on Tue Mar 26, 2013 9:44 am

Create government financed companies manufacturing the things you have China make for you now, and grant them subsidies for sale in the U.S, or, lower the wages until you can out-compete China. That's basically the only two options you have if you want to get back your industry jobs. Take your pick.
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Re: For those concerned about US debt

Postby PLAYER57832 on Tue Mar 26, 2013 10:05 am

BigBallinStalin wrote:
PLAYER57832 wrote:
BigBallinStalin wrote:
PLAYER57832 wrote:No, the giist is that the CBO is full of ... sh*t, so ignore them.


Exactly, but the people who won't ignore them are the ones who should. :D

No, the folks who want to criticize need to come up with better data --- or at least pay attention to what the data actually says instead of what they want to claim it says..

And I don't agree that CBO data is garbage, its just limited in its scope.


Oh, sure, can't say anything until you spend millions of dollars collecting original data. Makes total sense.

I'd love for you to expand on that.

Try paying attention to natural resource data, to numbers and kinds of disability claims... and to the (lack of) money being invested in education, projections for numbers of technically qualified graduates.... not to mention lack of funding into true alternatives to our oil/natural gas/coal based economy.

(just to name a very few points).

The CBO data is correct, but has to be taken in contexts. (note the "s"). Most of the above criticism is about objecting to projections to a point are already defined as being inaccurate .. thr trouble is those criticizing don't have any better data, they just want to criticize.
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Re: For those concerned about US debt

Postby PLAYER57832 on Tue Mar 26, 2013 10:07 am

Fruitcake wrote:
BigBallinStalin wrote:Also, correcting for the rosy predictions using modest assumptions reveals terrible outcomes which may occur 20 years sooner than the CBO predicted.


I may be wrong but it all looks pretty imminent.

BBS, what do you think should happen to stop this from occurring?

He cannot give the real answer, because the real answer lies in understanding that the very basis of any economy is its natural resources... and that most projections in that forum have been grossly misrepresented.

Also, too many economic projections try to hold things like technological fixes as either assumed or irrelevant, without considering how those fixes really come about.
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