More on the debt crisis is a phony crisis
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Uploaded by mikeydoggy on Dec 6, 2011
Mike Norman talks about how today's 4-week bill auction was oversubscribed by 8 to 1 and the bills were auctioned off at ZERO percent! The private markets are clamoring for more gov't debt and we keep hearing people say we have to cut the debt.
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Whoa, wait a minute. Is this fellow asking those creditors and lenders to blow his head off? After billions of money sent to the spenders?
Be careful when you speak those words when you're talking to banks or worse, loan-sharks.
ltmikepowell 2 months ago
Thank you for the breath of fresh air you provide. Keep up the great work!
500JJPIMP 2 months ago
Europe debt crisis is causing a flight from there to here, causing dollar to go up temporarily. WE're next.
kidbilly1970 2 months ago
No debt crisis? You're an idiot...
kidbilly1970 2 months ago
@malumalumalu
As the US is monopoly issuer of the currency, that is what he is saying.
WilhelmDrake 2 months ago
AND 3. IF the EURO collapses THEN SO DOES the US DOLLAR! IF THAT HAPPENS: China and India SUFFER MASSIVE SOCIO-ECONOMIC MEGA-DISASTER! IF THAT HAPPENS: GAME OVER! Period! NO IFS AND OR BUTS ABOUT IT! SO: Credit Rating Agencies need to BACK OFF ASAP! THEY NEED TO STFU ASAP! Because THEY are FALSELY CREATING a DISASTER! Ask former Labour Secretary Robert Reich AND Wall Street Man of Wisdom Mike Norman. PERCEPTION CAN BE MANUFACTURED ON FALSE INFO. BANKS need to LOAN MONEY WISELY and be REGULATED!
TheFreeAdviceMan 2 months ago
To those commenting here who think they know more about this than Mike Norman: let me explain a few things: 1. While the National Debt is very high (no thanks to the previous administration's misadventures and bad policies): it cannot ever be paid off by freezing the flow of cash! NEVER! ONLY by Wiser Crediting can WE invest in the New Technologies and what not URGENTLY NEEDED to both FUEL the ECONOMY and SAVE THE WORLD! 2. SimpleMinded FALSE LOGIC thinks: Credit Rating Agencies are INFALLIBLE!
TheFreeAdviceMan 2 months ago
I TOTALLY AGREE! 1 ZILLION PERCENT! LET's GET THE MESSAGE OUT THERE: "THERE IS NO PHUNKING DEBT CRISIS...BUT THERE ARE THOSE WHO WANT TO MAKE SHORT-TERM PROFITS BY LYING TO US ABOUT IT!" THERE IS A CRISIS OF MISCONDUCT ON THE PART OF CREDIT RATING AGENCIES THAT CAN NO LONGER FIGURE OUT WHAT IS GOING ON! BECAUSE IDIOCRACY HAS NO LIMITS AND IDIOTS HAVE CHEATED EXAMS TO GET INTO THOSE AGENCIES! PERIOD! Mike Norman for President!
TheFreeAdviceMan 2 months ago
And then...Try this: Add 2 people to the prescribed game (marker suggestion: buttons) and maybe don't raise taxes the first time. You'll quickly find there isn't enough product to meet aggregate demand. That's inflationary.
mortgageangel9 2 months ago
....How do the players get money? The banker literally spends it into existence. When you land on Luxury Tax or draw a Chance card that instructs you to pay taxes, who gets that money? The bank! Try this: What if we experimented with the game Monopoly? Let's try paying 2x the amount it asks. Not 2 times the rents or mortgages, just taxes. Would that slow the game down any? Try 3x all tax bills. Try it. You'll like what you learn. :)
mortgageangel9 2 months ago