Raise the debt ceiling

[dryheat]

"The US has never defaulted. Not once," she wrote in an op-ed in the Wall Street Journal published Sunday. "Doing so would likely precipitate a historic financial crisis that would compound the damage of the continuing public health emergency." Says Janet Yellen.

We do this little show every once in a while. Many times over the last few decades. Probably the only time you will see parties cross the aisle. They will run across the aisle.

[togor]

You're right.

[bruce]

Why is it the case that at times like this, parties cross the aisles? Think. Hamilton said failing to pay national debut would be bad policy. He understood the place of politics and finance in a strong central government. His understanding has proven to have enduring value. Sincerely. bruce.

[Roadkingtrax]

Hey, maybe we should have balanced out the tax cuts from 2017?

Nah...bad idea.

[dogtag]

Our currency is paper backed by nothing except faith. Faith like everything else has a limit.
We regularly raise the debt ceiling to avoid default which puts us ever deeper in debt.
It's a Pyramid scheme which cannot go on for ever, but the consequences of a default
get worse each time so we raise the ceiling again and again and again.

[togor]

Well DT the trick is, as the economy expands, so must the money supply to match, otherwise deflation. Even Keynes (a Brit) understood that at some level, all money is funny.

[dogtag]

What's our current debt, 21 trillion ? 28 trillion ?

Like the Man said "pretty soon you're talking real money "

And our economy is going down not up

[togor]

What's our current debt, 21 trillion ? 28 trillion ?

Like the Man said "pretty soon you're talking real money "

And our economy is going down not up

I have a buddy in the Phoenix area.

His favorite economic indicator is to count the number of construction cranes he sees on the way to work.

Have to check in with him on what the "crane index" is telling him these days.

[dogtag]

Building permits. Not all buildings require cranes. Only towns and Cities.
Another index might be counting hard hats

[togor]

Building permits. Not all buildings require cranes. Only towns and Cities.
Another index might be counting hard hats

He's just driving to work, not preparing an economic report for somebody.

Okay I'll shoot him a text see what he says.

[dogtag]

I can imagine what he's going to say, and it'll be unprintable.

[togor]

Not sure this is unprintable...?

Sky still full of cranes,

His commercial work is down but residential is booming.

He's a contractor.

[Roadkingtrax]

Not sure this is unprintable...?

Sky still full of cranes,

His commercial work is down but residential is booming.

He's a contractor.

Dryheat and I live in the third largest city in the state.

I can tell you, if you stand in an open field too long...they will build a house, a gas station, or an LDS church on top of you.

Lots of construction going on, in particular warehouse and commercial.

[BudT]

Zimbabwaye dollars

[togor]

Zimbabwaye dollars

Xmas is comming. Maybe someone will put a Grammarly subscription in your stocking. You can only hope. As can we.