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Originally Posted by dellinger63
Extend payroll tax break extension and unemployment to produce jobs. Build roads and bridges (to nowhere) to employ out of work construction workers. In other words spend, spend spend! Not a peep about paying down the debt or even debt reduction. Simply tax more to maintain the out-of-control spending.
And tax those who can afford it. Make them pay their fair share. (already paying 80%)  |
Here you go, Dell. Even conservative financial columnists say your view is "utterly perverse, utterly upside down".
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The bond market has reacted to the S&P downgrade of US debt with a big rally in US Treasuries. As I write, the US government can borrow money for 10 years at about 2.3% and for 2 years at under one quarter of a point. The market wants to buy, buy, buy US debt.
What the market wants to sell are stocks: ie, claims on the future earnings of private-sector companies.
In other words, the market is saying: We fear recession and deflation. The Washington consensus is that we need to fight debt and inflation. It’s utterly upside down, utterly perverse.
http://www.frumforum.com/the-downgrade-rally
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