national debt jumps almost $700 billion in ONE MONTH

US national debt sept 15/08: $9.634 trillion

US national debt oct 15/08: $10.326 trillion

that is equal to:

$23 billion per day

$960 million per hour

$16 million per minute, every minute, 24 hours a day

National debt, irrational quest...who cares, we don't have to have anything behind that money except for ink and paper..and there's plenty of that, obviously..

ink and paper is what caused the current global crisis, and the ink and paper in the national debt is a greater threat to US national security than terrorism

Yeah but its just on paper.;)

Quote:

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Originally Posted by maladroit

ink and paper is what caused the current global crisis, and the ink and paper in the national debt is a greater threat to US national security than terrorism

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It must be nice to point fingers constantly:icon506:

"It must be nice to point fingers constantly," he said, pointing a finger at maladroit.


that paper is made up of US treasury notes which are guaranteed by the US government and must be repaid PLUS interest...last year, the interest expense on the national debt was $451 billion and next year, it will be over $500 billion


"My plan reduces the national debt, and fast. So fast, in fact, that economists worry that we're going to run out of debt to retire."
â?? President George Bush, radio address, Feb. 24, 2001

Quote:

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Originally Posted by maladroit

that paper is made up of US treasury notes which are guaranteed by the US government and must be repaid PLUS interest...last year, the interest expense on the national debt was $451 billion and next year, it will be over $500 billion


"My plan reduces the national debt, and fast. So fast, in fact, that economists worry that we're going to run out of debt to retire."
â?? President George Bush, radio address, Feb. 24, 2001

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Oh i see, its the TIPS market that brought about the economic crisis:wtf:

Once again, Maladroit is wrong; who would have guessed? I have a question for you. What has happened to LIBOR since September? Once you find out, point your finger in that direction and not know why...:jointsmile:

i never said that treasury notes caused this crisis (strawman AGAIN!)

LIBOR generally went up since september despite rate cuts because banks have been sitting on their cash since they are afraid to trade with eachother (and required more interest to compensate for risk/liquidity issues)...LIBOR suddenly dropped over the past week because governments embraced socialism

Quote:

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Originally Posted by maladroit

ink and paper is what caused the current global crisis, and the ink and paper in the national debt is a greater threat to US national security than terrorism

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Quote:

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Originally Posted by maladroit

that paper is made up of US treasury notes which are guaranteed by the US government and must be repaid PLUS interest...last year, the interest expense on the national debt was $451 billion and next year, it will be over $500 billion

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Care to cut and run around these statements?

Quote:

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Originally Posted by maladroit

LIBOR generally went up since september despite rate cuts because banks have been sitting on their cash since they are afraid to trade with eachother (and required more interest to compensate for risk/liquidity issues)...LIBOR suddenly dropped over the past week because governments embraced socialism

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Its funny what a wikipedia/ google education will cause most of the time. A quick synthesis with very little substance. Fascism is more in line to what is going on as opposed to socialism. Keep trying, one day you could wind up actually contributing:jointsmile:

Who cares about LIBOR? Its just the interest the crooks charge each other for interbank loans. If the banks weren't run by idiots there would be no reason to even have LIBOR. Our monetary system is like our tax system. There are no experts because nobody understands the regulations. The regs just create new cubby holes where the crooks running our country can pickup a couple extra bucks. Both our tax system and our monetary system needs to be tanked and start over gain. There is nothing about either system that is worth trying to fix because its too corrupt. The fox is guarding the hen house.