bendog
Diamond Member
- Mar 4, 2013
- 46,279
- 9,696
Actually, it was under Slick that people started refinancing homes with lower interest to buy shit from overseas and visit Disneyworld. But public debt did decline before the boomers started aging into Soc Sec ... and more and more of us keep working as we collect it.At the moment, leveraged insanity.Tell us oh wise one......what is our economy based on?
It's a debt based Economy. Hence every admins drunken spending.
It only became a debt based economy recently to the last 38 years. Since the start of Conservatism and trickle down.
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Bush the Dumber's economy was built entirely on debt; specifically people using their homes as ATMs
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Nope, it started with the Fed.
The Feds job is to keep interest rates low when there's no inflation. W's tax cuts didn't make any sense because we essentially goosed paper growth to keep the good times rolling.
And no one really knows why we had and continue to have little inflation. That question is really the key to the gop gamble: can we goose real growth with US corps hiring Americans by increasing debt without inflation. THAT is the QUESTION at the heart of G5000 prediction. I really don't have a clear idea what will happen