"Right-wing nutters in the US threaten world economy."

Not raising the debt ceiling doesn't mean the US will default on it's debts. We have to pay the debts and cut out spending on other shit. Even Obama knows this which is why he has threatened to withhold social security payments.
 
Maybe, but credentials still don't equal wisdom; also, there are plenty of credentialed people who disagree with him. So you must have some qualification for backing up what this man says; and how are you any more qualified to agree with the man than AL is to disagree with him?

Especially given that your recent comments in another thread suggest that you don't understand an economic concept as fundamental as the difference between government jobs funded by taxes and private-sector jobs funded by wealth creation. I don't think you have much of a leg to stand on here.
 
Translation: Silly fucking Liberal.


[Edit]

BTW, where was he a "professor" at? I didn't see where that was mentioned in wiki (and I didn't bother looking anywhere else). Seems he is mainly private sector job person or politician, not a professor.
 
No it won't.

All transfer payments do is move money around by taking it from people who save and make investments and giving it to people who spend it on new rims and breeding genetically inferior crotchfruit that end up going to prison or working for the government, or do nothing at all.

Welfare is essentially a system of a dysgenic nature that populates America with the botched and the bungled at the expense of the productive and creative.
 
Who do you think would buy that shit if noone could pay for it? That's right, nobody would. Companies would go out of business for lack of customers, and the economy would tank because we are a consumer nation.

You are such a fucking derp it's delicious.
 
The "world economy" is essentially a global credit bubble doubling as a vehicle of wealth transfer. If the US Gov cares to save it's own sovereignty it must preemptively default and burst the bubble before all of it's citizens' wealth has been liquidated and stolen.
 
So lemme make sure I get this right: Say I own a lemonade stand. People buy lemonade from me and I make money. Tax man comes along and takes some of what I made and gives some of it to people who don't have money to buy lemonade. They then buy lemonade from me using my own money. And if that suddenly ceased, I would go out of business.

ETA: Oh, and Economics 101 is usually Microeconomics and basics of supply and demand.
 
Your analogy is for shit. Nobody taxes lemonade stanRAB. Taxes are paid mostly by the rich and large corporations. Said taxes pay for entitlement programs that put money in the pockets of consumers.

Whether or not you like social programs, taking money out of the pockets of consumers will hurt the economy.

IF the debt ceiling is not raised and IF we are forced to cut social programs to make our interest payments, we will see a cliff more steep than the one in 2008, as more people than ever remove themselves from the consumer pool.
 
He studied at Carabridge and Glasgow and was a lecturer at Glasgow and London School of Economics.

From which institution did you receive your degree in economics?
 
Not giving away free money != taking money out of pockets.

You act as if the only way people have money is because the government gave it to them.

Ok so if the government doesn't tax lemonade stanRAB and corporations pay taxes as you've pointed out, then I will adjust.

Walmart (Corporation) makes a bunch of money. They pay taxes. Some of those tax dollars are given to poor people so they can buy stuff at Walmart. If that didn't happen, Walmart goes out of business?

BTW: I haven't been on here in a while. Your trolling is still top notch. I salute you.
 
Walmart might not go out of business, but you can sure bet the small business down the street that is competing with walmart will lose more customers than walmart will, and probably go out of business, or maybe even get lucky enough to be bought out by walmart.

I don't see why you hate small business.
 
So in other worRAB, he WASN'T a professor.

A lecturer in UK universities often holRAB a permanent position that involves carrying out both teaching and research. After a nuraber of years, lecturers might be promoted to senior lecturers. This position is below reader and professor.

And it wasn't AND ... he just lectured at Glasgow from 68 to 74. He never Lectured or was a professor at Carabridge or LSE.
 
I still fail to see how this tax and give away is anything different than me snatching a dollar out of the register and using it to buy a candy bar in the same store. (Sales figures are up and I get a free candy bar!)

Or is it some sort of wealth redistribution thing again designed to reward a shitty store and a poor person at the expense of a successful store?

Then again, it may be that the entire consumerist economy is built upon people buying things they don't need with money they don't have (or free money taken from others) creating a huge bubble that is basically being maintained for political reasons because nobody wants to be the one in charge when it pops.
 
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