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View Diary: The World sees our National Debt differently than Austerity Hawks do (23 comments)

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  •  Yes, but our spoiled leisure class is still (5+ / 0-)

    looking for the 8.1% rate on Treasuries that they enjoyed in 1991.

    In 1999, they thought that the surplus federal revenues were to blame for the low interest rates.  So, Bush/Cheney were tasked to get rid of it. That did not work. Wall Street created a balloon and the it burst. Meanwhile, the Federal Reserve went from being coy about base interest rates from quarter to quarter to predicting that they wouldn't be increased for two years. And now the Treasury is talking about negative interest -- i.e. we would charge to keep bond buyers' money secure.

    The great expectations of the leisure class are dashed.

    We organize governments to deliver services and prevent abuse.

    by hannah on Sun Feb 03, 2013 at 12:35:03 PM PST

    •  didn't Cheney proclaim (2+ / 0-)
      Recommended by:
      Eric Nelson, 3goldens
      our National Deficit doesn't matter!

      they're just extra 00000000000's in

      his Halliburton slush-fund spreadsheet.

      Here's how the game is really Rigged.

      by jamess on Sun Feb 03, 2013 at 01:02:10 PM PST

      [ Parent ]

    •  They have to let Dems fix the economy (6+ / 0-)

      if they want those interest rates again.

      Full employment and end to offshoring and a healthy economy will get us out of the liquidity trap.

      The sooner we do it, the better.  

      Democratic Leaders must be very clear they stand with the working class of our country. Democrats must hold the line in demanding that deficit reduction is done fairly -- not on the backs of the elderly, the sick, children and the poor.

      by Betty Pinson on Sun Feb 03, 2013 at 01:54:55 PM PST

      [ Parent ]

    •  the leisure class can do without (2+ / 0-)
      Recommended by:
      hannah, jamess

      if i'm understanding this diary's premise properly, the takeaway is that, despite the depredations of wallst and the fiscal fiasco, the world's financial institutions prefer to loan us money, even if in the worst case they won't make a profit, or even lose somewhat;

      but the idea they're operating under is that they're probably going to do better than break even

      that is the idea that we need to make understood by the populace at large

      because this is such a boost for americans to know:

      we're one place the world expects to remain vital

      •  exactly (0+ / 0-)

        thanks for the insightful summary isabelle hayes.

        that was my main point.

        that, and that the world still looks to us lead,

        Lead the way towards solving the challenges of the 21st Century.

        Here's how the game is really Rigged.

        by jamess on Sun Feb 03, 2013 at 04:05:44 PM PST

        [ Parent ]

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