Would you raise the interest rate on your own mortgage or credit card?

[boedicca]

I said many, bub - not all.

I'll add lack of reading comprehension and retention to your growing list of inadequacies.

 

[itfitzme]

It only becomes an issue when no more can be borrowed. Then it becomes not borrowing which is exaxtly like not borrowing now. Big deal. It is exactly the same.

So where is the unfortunate part?

I call shenanigans. You clearly have no idea how economics and the federal budget (or anything else for that matter) work.

At some point, the interest payments on the debt will consume most federal tax receipts. Even if we could borrow more, we'd just be borrowing to pay the interest on the debt.

It's like some imbecile getting a 30th credit card to pay the minimum payments on his maxed out 29 other cards.

He has multiple degrees and we should listen or feel the wrath of the newspaper.

No, you should address the topic and describe this mechanism of the flow of funds that is catestrophic as a result of the debt and deficit.

So far, we have a) China buys shit from the US b) The borrowing has to stop when interest equals revenues.

Where is the catastrophe?

Do you hqve anythin intelligent to add?

 

[itfitzme]

Would you raise the interest rate on your own mortgage or credit card?

Sounds like a really stupid question because no one wants to pay more than they have to when it comes to borrowing money, right?

But if the Debt Ceiling is not raised the credit rating of the USA could be downgraded again and that will mean that the interest rate that We the People will have to pay will go up.

Since it is going to be us taxpayers who are paying that interest does it make any sense at all to increase the rate that we are going to have to pay?

I'll gladly pay the rate the Fed pays on all of my credit card interest. Sign me up.
Talk about scams, government sanctioned scams.

Your not the US treasury. That is how free markets work. You a) don't borrow enough and b) aren't guaranteed to not default.

Of course, It'll go up on a default. That's the point.

 

[itfitzme]

I said many, bub - not all.

I'll add lack of reading comprehension and retention to your growing list of inadequacies.

So, I trashed your point. There aren't many, they are recent grads, you can't identify them, and your wrong, having made up the idea out of pure bs.

The point is that the info comes from the real world of business and applies to the world of business.

 

[boedicca]

Would you raise the interest rate on your own mortgage or credit card?

Sounds like a really stupid question because no one wants to pay more than they have to when it comes to borrowing money, right?

But if the Debt Ceiling is not raised the credit rating of the USA could be downgraded again and that will mean that the interest rate that We the People will have to pay will go up.

Since it is going to be us taxpayers who are paying that interest does it make any sense at all to increase the rate that we are going to have to pay?

I'll gladly pay the rate the Fed pays on all of my credit card interest. Sign me up.
Talk about scams, government sanctioned scams.

Your not the US treasury. That is how free markets work. You a) don't borrow enough and b) aren't guaranteed to not default.

Of course, It'll go up on a default. That's the point.

The projected interest on the debt this year is "only" $223B. Projected collections are $2.8T. To prevent a default, we just have to pay the interest, which can quite easily be done given the record amount of money being shoveled up by DC.

 

[itfitzme]

more signs " I have a 15 inch dick" from itfitzme

You keep talking about my dick.

Apparently you have never taken a class from a PhD in anything. I have, they are smarter than me. But I listened to them. That is why I have the degrees.
And because I can say I have them, I have the creds that back up my opinion.


You have nothing but bullshit. You know why? Because you didn't bother to have the respect for the guys with PhDs. So you don't learn.

You remind me of my friends dogs, loud and stupid. And, the only way they learn is with a rolled up news paper.

Until you can deal with the facts, you will never learn without being hit woth a rolled up news paper.

I call more shenanigans. Yes, there are many intelligent PhDs - but many of them are just good at "doing academics". They have poor exposure to, and understanding of the non-academic world.

Well, no, after all this "edumacation", you hage learned nothing and just demonstrated that chimpanzees throw shit when they are mad.

Sorry you're mad

 

[boedicca]

You keep talking about my dick.

Apparently you have never taken a class from a PhD in anything. I have, they are smarter than me. But I listened to them. That is why I have the degrees.
And because I can say I have them, I have the creds that back up my opinion.


You have nothing but bullshit. You know why? Because you didn't bother to have the respect for the guys with PhDs. So you don't learn.

You remind me of my friends dogs, loud and stupid. And, the only way they learn is with a rolled up news paper.

Until you can deal with the facts, you will never learn without being hit woth a rolled up news paper.

I call more shenanigans. Yes, there are many intelligent PhDs - but many of them are just good at "doing academics". They have poor exposure to, and understanding of the non-academic world.

Well, no, after all this "edumacation", you hage learned nothing and just demonstrated that chimpanzees throw shit when they are mad.

Sorry you're mad

You poor widdle booby. Amusement is not "being mad".

 

[Vox]

more signs " I have a 15 inch dick" from itfitzme

You keep talking about my dick.

Apparently you have never taken a class from a PhD in anything. I have, they are smarter than me. But I listened to them. That is why I have the degrees.
And because I can say I have them, I have the creds that back up my opinion.


You have nothing but bullshit. You know why? Because you didn't bother to have the respect for the guys with PhDs. So you don't learn.

You remind me of my friends dogs, loud and stupid. And, the only way they learn is with a rolled up news paper.

Until you can deal with the facts, you will never learn without being hit woth a rolled up news paper.

I call more shenanigans. Yes, there are many intelligent PhDs - but many of them are just good at "doing academics". They have poor exposure to, and understanding of the non-academic world.

if they are even real PhD.

it's the internet.

but the narcissus is clearly too stupid to realize why is he being mocked.

 

[Darkwind]

Would you raise the interest rate on your own mortgage or credit card?

Sounds like a really stupid question because no one wants to pay more than they have to when it comes to borrowing money, right?

But if the Debt Ceiling is not raised the credit rating of the USA could be downgraded again and that will mean that the interest rate that We the People will have to pay will go up.

Since it is going to be us taxpayers who are paying that interest does it make any sense at all to increase the rate that we are going to have to pay?

Phoney question and a phoney premise.

I would not overspend in the first place and purchase pie-in-the-sky items because it makes other people feel good.

There would be no need for Me to raise My debt ceiling because the debt ceiling I have I hold.

As any mature, rational human would do.

 

[QuickHitCurepon]

Would you raise the interest rate on your own mortgage or credit card?

Sounds like a really stupid question because no one wants to pay more than they have to when it comes to borrowing money, right?

But if the Debt Ceiling is not raised the credit rating of the USA could be downgraded again and that will mean that the interest rate that We the People will have to pay will go up.

Since it is going to be us taxpayers who are paying that interest does it make any sense at all to increase the rate that we are going to have to pay?

If you shop around, there are many good credit card rates out there. All mortgage rates are at historic lows and have been for a few years.

 

[sfcalifornia]

actually...the fact that you actually think it is all "China" pretty much shows me how little you know.

Truth is....you obviously have no idea about what the debt is all about...the debt limit....and how we borrow.

FYI....China is a very small portion of it.....not even worthy of discussion.

I don't recall seeing anywhere in ifitzme's post that it is ALL China. China is only one country out of many the US does business with.

Since you obviously know everything there is to know about the debt, why don't you explain it to us in economic and financial terms instead of just ridiculing those who attempt to do so?

You obviously did not read the thread....but needed to toss in a comment.

Making you not worth my time.

You didn't answer my question.

Since you obviously know everything there is to know about the debt, why don't you explain it to us in economic and financial terms instead of just ridiculing those who attempt to do so?

 

[QuickHitCurepon]

Sure they do, but that doesn't mean it's the best way to proceed.

Why not, it's US dollars that we used to buy Chinese products?

Are you saying that the free market consumer shouldn't buy goods from where they want to?

Are you saying that we shouldn't recirculate US dollars back into the US economy?

What do you think your really talking about?

Or have you just not actually bothered to learn how the funds flow and what it means?

actually...the fact that you actually think it is all "China" pretty much shows me how little you know.

Truth is....you obviously have no idea about what the debt is all about...the debt limit....and how we borrow.

FYI....China is a very small portion of it.....not even worthy of discussion.

In reality, IMO our politicians don't really worry about the debt, because the implicit agreement is to get into a war with China over Taiwan, North Korea or Iran, and then say, "Aha!" and write off our debt with China out of spite.

 

[kaz]

Next time try sticking to the OP instead of deflecting.

You don't get how my reply was directly about the op? Seriously?

The OP was about interest rates. You ranted about spending. Do you want to try again?

Winston Churchill: I can explain it to you, I cannot comprehend it for you.

I directly addressed the op. That your rules are that only posts that agree with your leftist drivel is your problem.

 

[Derideo_Te]

You don't get how my reply was directly about the op? Seriously?

The OP was about interest rates. You ranted about spending. Do you want to try again?

Winston Churchill: I can explain it to you, I cannot comprehend it for you.

Ironic given your failure to comprehend that the OP topic is interest rates!

I directly addressed the op.

If you want to lie about the Dems and make misogynistic comments about women start your own thread.

That your rules are that only posts that agree with your leftist drivel is your problem.

Not my rules but the USMB forum rules.

Off-topic posts may be edited, trashed, deleted, or moved to an appropriate forum as per administrator & moderator discretion at any time within any forum and/or sub forum.

 

[kaz]

The OP was about interest rates. You ranted about spending. Do you want to try again?

Winston Churchill: I can explain it to you, I cannot comprehend it for you.

Ironic given your failure to comprehend that the OP topic is interest rates!

If you want to lie about the Dems and make misogynistic comments about women start your own thread.

That your rules are that only posts that agree with your leftist drivel is your problem.

Not my rules but the USMB forum rules.

Off-topic posts may be edited, trashed, deleted, or moved to an appropriate forum as per administrator & moderator discretion at any time within any forum and/or sub forum.

misogynistic comments? OMG, it was your wife in your example, your wife is a women. you HATE women. dude, now you're just being a dick.

OK, I'll explain the obvious to you one more time. You said that if we don't raise the debt ceiling that interest rates will go up, and that would be stupid. it's an assumption, but let's say it's true. I said that if we raise the debt limit, government will spend more, and that would be a higher price than higher interest.

That is just so completely obviously directly addressing your op. if you want to report me, go ahead. But you're just being thick.

 

[Derideo_Te]

Winston Churchill: I can explain it to you, I cannot comprehend it for you.

Ironic given your failure to comprehend that the OP topic is interest rates!

If you want to lie about the Dems and make misogynistic comments about women start your own thread.


Not my rules but the USMB forum rules.

Off-topic posts may be edited, trashed, deleted, or moved to an appropriate forum as per administrator & moderator discretion at any time within any forum and/or sub forum.

misogynistic comments? OMG, it was your wife in your example, your wife is a women. you HATE women. dude, now you're just being a dick.

OK, I'll explain the obvious to you one more time. You said that if we don't raise the debt ceiling that interest rates will go up, and that would be stupid. it's an assumption, but let's say it's true. I said that if we raise the debt limit, government will spend more, and that would be a higher price than higher interest.

That is just so completely obviously directly addressing your op. if you want to report me, go ahead. But you're just being thick.

Kindly refrain from projecting your own shortcomings onto others.

The previous failure to raise the debt ceiling resulted in the US credit rating being downgraded. Credit ratings are directly tied to borrowing interest rates. Higher ratings mean lower interest rates and vice versa.

 

[kaz]

Ironic given your failure to comprehend that the OP topic is interest rates!

If you want to lie about the Dems and make misogynistic comments about women start your own thread.


Not my rules but the USMB forum rules.

misogynistic comments? OMG, it was your wife in your example, your wife is a women. you HATE women. dude, now you're just being a dick.

OK, I'll explain the obvious to you one more time. You said that if we don't raise the debt ceiling that interest rates will go up, and that would be stupid. it's an assumption, but let's say it's true. I said that if we raise the debt limit, government will spend more, and that would be a higher price than higher interest.

That is just so completely obviously directly addressing your op. if you want to report me, go ahead. But you're just being thick.

Kindly refrain from projecting your own shortcomings onto others.

The previous failure to raise the debt ceiling resulted in the US credit rating being downgraded. Credit ratings are directly tied to borrowing interest rates. Higher ratings mean lower interest rates and vice versa.

Kindly refrain from being a dick.

Actually the prior downgrade had a lot more to do with spending than raising the debt ceiling. As demonstrated when the debt ceiling was raised, the credit downgrade remained in place.

 

[Derideo_Te]

misogynistic comments? OMG, it was your wife in your example, your wife is a women. you HATE women. dude, now you're just being a dick.

OK, I'll explain the obvious to you one more time. You said that if we don't raise the debt ceiling that interest rates will go up, and that would be stupid. it's an assumption, but let's say it's true. I said that if we raise the debt limit, government will spend more, and that would be a higher price than higher interest.

That is just so completely obviously directly addressing your op. if you want to report me, go ahead. But you're just being thick.

Kindly refrain from projecting your own shortcomings onto others.

The previous failure to raise the debt ceiling resulted in the US credit rating being downgraded. Credit ratings are directly tied to borrowing interest rates. Higher ratings mean lower interest rates and vice versa.

Kindly refrain from being a dick.

Actually the prior downgrade had a lot more to do with spending than raising the debt ceiling. As demonstrated when the debt ceiling was raised, the credit downgrade remained in place.

This is your first ignore warning.

Your grasp of how credit ratings are allocated leaves a lot to be desired. If you miss a payment on your credit card and your rating is subsequently downgraded making up the missing payment won't reinstate your credit rating.

 

[kaz]

This is your first ignore warning

Only a liberal would say, wow, you used an example where your wife spends too much money, that means you hate women. And then turn around and still claim to be taking the high road. When you did that, you were being a dick. Knock it off and stop whining when you dish it out and get it back. Either don't dish it out, or don't whine when you get it back. But pick.

As for interest rates, you're not following the discussion so this is just dull now.

 

[QuickHitCurepon]

Kindly refrain from projecting your own shortcomings onto others.

The previous failure to raise the debt ceiling resulted in the US credit rating being downgraded. Credit ratings are directly tied to borrowing interest rates. Higher ratings mean lower interest rates and vice versa.

Kindly refrain from being a dick.

Actually the prior downgrade had a lot more to do with spending than raising the debt ceiling. As demonstrated when the debt ceiling was raised, the credit downgrade remained in place.

This is your first ignore warning.

Your grasp of how credit ratings are allocated leaves a lot to be desired. If you miss a payment on your credit card and your rating is subsequently downgraded making up the missing payment won't reinstate your credit rating.

Not immediately, but the score will recover quickly enough for those that maintain their lifestyle. The only exception would be for those with few years of credit history.