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01/01/2007

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Jack

Ben??? Yet another contentless post? I doubt you any risk at all of "being Left" and I really am interested in how today's "conservatives" who abandoned their forbears attributes of thrift, balanced budgets and living on what they earned by farming, rather than mortgaging another "back 40" each year to make ends meet.

Since Reagan pulled this off so nicely that few even felt it being slipped to them I really have wondered if there were any cogent theories behind it, or whether it's simply "fun, fun, fun...... 'til daddy takes the T-bird away?" I like to party too, but those credit card bills and interest are really a drag and as I won't be here long enough to make even a dent in the Ten Trillion in D E B T this "conservate admin" will leave us, I really don't want to saddle our kids and there's with such a millstone around their necks that will eat one quarter of the entire Federal Budget just in debt service.

Anyway, I would like to get just a glimpse at the theories of the spend and borrow crowd, if there are such? and it's not entirely due to last selfish grasp of spoiled twits of the boomer generation who love the services but would rather not pay for them.

"Very wealthy households ...contribute a significantly higher ratio."

........ indeed, so your cherry picked piece of data claims. And the "ratio" is that of income only, and I took time to explain to you that the wealthy jigger their incomes so that much of it is injected directly into wealth building w/o ever being income. We've several examples under discussion here: Gates? Sure, he's taken "income" to to build his mansion, while his wealth is 50 billion of MSFT stock that has never been sold nor counted as income. Buffet? Prides himself on buying great stocks and never selling. Thus? no "income" not even capital gains. Walmart partners? I know some of them in Tulsa, no great shakes on income, but if you want to buy some housing development land east of town it's very likely a Walmart family member who'll be selling. Even with cap gains at 15% it's not likely he's going to sell a lot more than is needed for current expenses. What would be the point? The investment is clicking along at 10% or better so why take "income?"

BTW is is something of a trade mark of yours to work "non-sequitur" into each contentless whining post? Jack

ben

Yes I do mention non sequitur a lot. It means drawing conclusions which don't follow from the preceding argument. Two words which nicely capture your every post.

Jack

Ben..... I'd hoped that my, somewhat needling, responses might draw you out and get you to flesh out any "special" econ theories or canards you collected, but my efforts seem only to prompt yet another post of which seems designed only as a smallish platform in which to, again, display "non sequitur".

Perhaps it's best if I give you some time and space in which to create a post that contains a premise, thesis and supporting arguments?

Jack

ben

Jack I might put something out there if you'd just back up one of your most frequent claims. What is the harm to the average American from a trade deficit? Its your claim, not mine. There's no way I'm pulling out my textbook to make your case for you. You back up your claims.

This is the fourth time I've asked I think. If you can't back this up, can it be presumed its simply...a canard?

Jack

Ben: Please don't let my actions dictate your own.

And regarding your most recent lament, I gave you a partial listing of the damages done by our soaring and utterly out of control, trade deficit situation.

From what responses you've posted I end up with two conclusions, neither of which favor more of my own tutorial efforts:

A. If you have to ask it's unlikely that you're prepared to accept the information from me.

B. That your ideology and extreme partisanship dictates a knee-jerk defense and repudiation of any bad news that might reflect upon the rather obvious failures of the Bush administration's and the "majority's" attempts to lead our country.

Lastly, I'd point out that PRINCIPLED conservatives of yore would hardly require tutoring in why we should have balanced trade and a strong dollar and leave you to mull the very long list of shoddy goods being sold to those professing "conservatism" and topped by these items that would have true conservatives spinning in their graves at rpms typical of gas turbines"

Massive! and unprecedent expansion of the size and cost of federal government.

SOARING federal D E B T that will prove to be a millstone around the necks of our next generation in dealling with ANY of our communal issues.

Having NO oil policy remotely worthy of the name. Are you old enough to recall Scoop Jackson's warning that being just 35% dependent on foreign oil was an issue of national security?

Miring us down in a costly and optional war? nation building?? project by skipping, let's be generous, any due diligence or seeking the support of our traditional allies and the world in general.

Cheers! and hoping you and yours were not considering taking a pile of emaciated "Bushy-bucks" and traveling anywhere, either east or west. (This is a hint. eh?) Jack

ben

For someone who has so much to say about trade deficit, it is extraordinary you have so little to say to justify it. I missed the "partial listing"? How about spoiling us with the whole thing?

The presumption has to be you have no idea what a trade deficit is or how it could create or be associated with harm. I guess this was obvious given the nature of your posts, but short of you actually declaring you have no idea I'll take this as the next best thing.

I actually share your concern about government spending and public debt. I have long professed confusion over who I'd vote for in America - from the outside it looks like a competition between two parties to make government ever larger, albeit in different ways. For what it is worth, I am a traditional liberal - basically the opposite of a modern liberal and not obviously related to modern conservatives either.

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