Ron Paul's Message

Palmpilot said:
President Clinton was for deficit reduction, and the deficit was actually eliminated during his administration, yet he had high approval ratings even in the face of impeachment.
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lol

Clinton couldn't have cared less about any "deficit". Newt Gingrich handed him a balanced budget, and Billy signed it.

The "Clinton Surplus" is a creation of his wife's campaign manager.
 
Jay Honeck said:
lol

Clinton couldn't have cared less about any "deficit". Newt Gingrich handed him a balanced budget, and Billy signed it.

The "Clinton Surplus" is a creation of his wife's campaign manager.
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I made no claims about who was responsible for the balancing of the budget that occurred during the Clinton administration. Nevertheless, he WAS in favor of a balanced budget, and he DID sign it.
 
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Jay Honeck said:
That article makes me want to cry. Or puke. Especially the part about "surpluses for many years to come"...
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Yeah, the surpluses sure didn't last long. But in any case, the fact remains that proposing a balanced budget, and actually signing one into law, didn't seem to hurt President Clinton's approval ratings, which counters the claim that being in favor of deficit reduction is politically disadvantageous.
 
Palmpilot said:
Yeah, the surpluses sure didn't last long. But in any case, the fact remains that proposing a balanced budget, and actually signing one into law, didn't seem to hurt President Clinton's approval ratings, which counters the claim that being in favor of deficit reduction is politically disadvantageous.
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Clinton was a different era. The end of the Depression/WWII voters. Those folks understood the evils of debt.

Their kids and grandkids? Not so much...
 
Jay Honeck said:
Clinton was a different era. The end of the Depression/WWII voters. Those folks understood the evils of debt.

Their kids and grandkids? Not so much...
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Yup....

And they will pay DEARLY for that spending habit in a few years....:rolleyes:
 
N801BH said:
Yup....

And they will pay DEARLY for that spending habit in a few years....:rolleyes:
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Won't someone think of the children young adults?? :D

"You can help by donating your plane to..."

Although to be honest, I probably couldn't handle your Zenith. Awful lot of plane ;)
 
Mutts said:
Yep. 50 million Americans wake up to worthless 401ks they've put into for decades?

I'll just say to use your imagination what would come next.
Feels like some horrible Sci Fi alternate reality, I can't believe we are
on this path now, and I just can't see how anything can be solved in time
given the idiocy of the American people to keep kicking the can down the road.
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I'm gonna need you to connect the dots for me a little better on that. I don't have any bond funds in my 401K. Largely individual stocks of multinational companies.
 
Art VanDelay said:
I'm gonna need you to connect the dots for me a little better on that. I don't have any bond funds in my 401K. Largely individual stocks of multinational companies.
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Circa 129, My Dad din't have any bonds either, He was trying to get paid for a Detroit City contract, the City clerk simply told him that they didn't have any money to pay him.

He then went to the bank to with draw his bank account, and the bank told him he could have a dime on dollar.

3 months later, he was on his knees trying to glean a potato field to feed his kids.

Ugly is where it starts.
 
Tom-D said:
Circa 129, My Dad din't have any bonds either, He was trying to get paid for a Detroit City contract, the City clerk simply told him that they didn't have any money to pay him.

He then went to the bank to with draw his bank account, and the bank told him he could have a dime on dollar.

3 months later, he was on his knees trying to glean a potato field to feed his kids.

Ugly is where it starts.
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Ugh.

My dad sold West Bend pots and pans, door to door, during the Great Depression.

He had to buy the food out-of-pocket and make dinner for a prospective buyer's family, just to get his foot in the door. Often they thanked him for the meal, and sent him packing.

And he was glad to have that job.
 
Palmpilot said:
President Clinton proposed a balanced budget in 1998:

http://www.nytimes.com/1998/02/03/u...ers-first-budget-balance-nearly-30-years.html
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Bare in mind the dot com bubble in full swing made it easy to talk the talk, and of course the fantasy of the "peace dividend", blown to hell after 9-11 if there was any doubt.
Deficits were actually shrinking under Bush for quite a few years until the fannie freddie time bombs went off with a vengeance.

Obama has created a new nation of more than doubling the national debt in two terms, and a growing populace of the entitled and unsustainable.

A day of reckoning again, seems unavoidable.
 
Mutts said:
A day of reckoning again, seems unavoidable.
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The US dollar is a complete fiction, has been ever since we went off the gold standard, not that gold itself is that inherently valuable. You can't eat or drink it it any more than you can paper money.

If enough people think a day of reckoning is at hand it will be, simply enough.
 
steingar said:
The US dollar is a complete fiction, has been ever since we went off the gold standard, not that gold itself is that inherently valuable. You can't eat or drink it it any more than you can paper money.

If enough people think a day of reckoning is at hand it will be, simply enough.
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Truth. It's all a confidence game.
 
I'm not sure about the "game" part. Nothing has value except to the extent that people agree that it does.
 
Palmpilot said:
I'm not sure about the "game" part. Nothing has value except to the extent that people agree that it does.
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Including precious metals. They are only precious because we deem them to be. The only things precious in the book of Steingar can be eaten or drunk for sustenance.

But we ascribe value to these things and arrange our economy around them. So long as we continue to value them things keep working. I guess the one real advantage of gold is that it's sufficiently rare that it is a difficult currency to inflate.

Things will go south very very quickly if we ever loose confidence in our currency. They will be bad in ways few here can imagine. I just hope that day never comes, or at least doesn't show up until after I'm safely dead.
 
Palmpilot said:
I'm not sure about the "game" part. Nothing has value except to the extent that people agree that it does.
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Right. The only reason the dollar hasn't yet collapsed is because we believe it won't or can't.

As history has repeatedly proven, this is a temporary condition.
 
Jay Honeck said:
Right. The only reason the dollar hasn't yet collapsed is because we believe it won't or can't.
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Yes, but that applies to ALL measures of value. Just look at the fluctuations in the commodities market, for example.
 
steingar said:
Including precious metals. They are only precious because we deem them to be. The only things precious in the book of Steingar can be eaten or drunk for sustenance.
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It's always seemed strange to my why some people want to stock up on gold when it seems that it would be useless to have. If the currency is no good I don't see any advantage to gold. It's only worth something because people think it is.
 
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