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What I Wish I Knew About McCain? - 8/7/2008 9:37:50 AM
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Evangel70
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Many people have been complaining that McCain doesn't get enough media coverage and is being overshadowed by Obama. What do you wish to know about McCain that would help you make an informed voting decision?
_____________________________
May the God who gives endurance and encouragement give you a spirit of unity among yourselves as you follow Christ Jesus, so that with one heart and mouth you may glorify the God and Father of our Lord Jesus Christ.
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RE: What I Wish I Knew About McCain? - 8/7/2008 9:44:19 AM
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blue1914
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Since I just posted this in the thread about Mr. Obama, I would love to know from Mr. McCain his plan to deal with a mounting national debt (made up mainly of debt to other nations) in the face of a falling U.S. dollar (which raises the value of the debt by default).
Before anyone start in about Mr. McCain and balancing budgets, please remember that the federal budget and the national debt are two different things.
This is a topic that has not been a meaningful part of any presidential election in recent years though it is reaching critical mass and threatens to bankrupt the U.S. in the near future if nothing is done - not my words, the words of the U.S. comptroller.
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RE: What I Wish I Knew About McCain? - 8/7/2008 10:07:36 AM
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saved9201
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quote:
ORIGINAL: Evangel70
Many people have been complaining that McCain doesn't get enough media coverage and is being overshadowed by Obama. What do you wish to know about McCain that would help you make an informed voting decision?
I think most McCain voters already know the one and only thing they need to know about McCain and that is: He's NOT Barack Obama.
-Julius
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RE: What I Wish I Knew About McCain? - 8/7/2008 12:06:15 PM
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tafkam
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Love McCain or hate him, at least you know where he stands and what he is about, which is FAR more than you can say for Barack.
Of course Barack says he is all about "change", but given that ALL of his views are in rigid lockstep with the most liberal wings of the Democratic party, I'm wondering where all this "change" is...
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"The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.' - Ronald Reagan
Tafkam
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RE: What I Wish I Knew About McCain? - 8/7/2008 12:14:43 PM
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huangshan
Posts: 778
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quote:
ORIGINAL: tafkam
Love McCain or hate him, at least you know where he stands and what he is about, which is FAR more than you can say for Barack.
Of course Barack says he is all about "change", but given that ALL of his views are in rigid lockstep with the most liberal wings of the Democratic party, I'm wondering where all this "change" is...
Color-coded contradiction.
Also, a significant criticism of McCain is that he is a political opportunist who has very squishy positions on almost all areas of domestic policy, except immigration, where he sided with Bush.
And I may be wrong about immigration, I'll have to check up on whether he's "seen the light" on that one too.
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RE: What I Wish I Knew About McCain? - 8/7/2008 12:18:43 PM
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tafkam
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quote:
Color-coded contradiction.
So prove me wrong, I'm waiting..
_____________________________
"The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.' - Ronald Reagan
Tafkam
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RE: What I Wish I Knew About McCain? - 8/7/2008 12:26:28 PM
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huangshan
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A contradiction means you denied what you yourself said.
You know almost nothing about Obama.
-or-
All of Obama's views are Democratic boilerplate.
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RE: What I Wish I Knew About McCain? - 8/7/2008 12:30:49 PM
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tafkam
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You're right, I know nothing about Obama.....and your point would be?
_____________________________
"The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.' - Ronald Reagan
Tafkam
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RE: What I Wish I Knew About McCain? - 8/7/2008 12:39:07 PM
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huangshan
Posts: 778
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quote:
ORIGINAL: tafkam
You're right, I know nothing about Obama.....and your point would be?
That you used two contradictory talking points right next to each other. I feel kind of bad about it now though.
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RE: What I Wish I Knew About McCain? - 8/7/2008 12:56:03 PM
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tafkam
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I'll make it simple...what is the "change" he is going to bring about? I see nothing in his platform as it stansd or in his extremely limited record to tell me what he means by "change". Any position is in lockstep with far left liberalism...so where's this "change"?
Does that clarify?
_____________________________
"The nine most terrifying words in the English language are, 'I'm from the government and I'm here to help.' - Ronald Reagan
Tafkam
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RE: What I Wish I Knew About McCain? - 8/7/2008 1:08:19 PM
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huangshan
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That's one approach you could use. You could suggest that his pretty much rote Democratic platform doesn't jive with the "change" message. I would suggest in that case that a Democratic president is itself a form of change. He certainly has a different approach to essentially everything compared to Bush.
I could also suggest that his desire for useful compromises and cooperation is a potential turn for the better from the overheated rhetoric that surrounds political discourse in many circles, or that his means of campaigning has been relatively high-minded (with, I'm sure, a few exceptions) compared to the campaigns of the past.
...
The other approach you could take is that you know nothing about Obama. If you go this rout, it's very difficult to say much else about the man, as every umbrage you take with him is one more thing you can add to the "know" box. when you say that he's just a normal (or extreme, or whatever) liberal and/or Democratic politician, well, that sounds like you know quite a bit about him, and the mysterious, ethereal concept of Obama doesn't seem to go so well with that.
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RE: What I Wish I Knew About McCain? - 8/8/2008 8:58:49 PM
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Dubya
Posts: 1019
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From: Texas
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quote:
ORIGINAL: blue1914
Since I just posted this in the thread about Mr. Obama, I would love to know from Mr. McCain his plan to deal with a mounting national debt (made up mainly of debt to other nations) in the face of a falling U.S. dollar (which raises the value of the debt by default).
This is flat out wrong! Considering how often you seem to interject this falacy in various threads makes me wonder where you are getting this nonsense.
First of all, the foreign holdings of our national debt totals less than 23% as of November 2007.
Secondly, the debt is purchased in the form of U.S Dollar based instruments... T-Bills, bonds, etc. If the dollar falls in value we do not owe more... the lending nation earns less in terms of his currency. He always receives the percentage interest according to the contract which is based in U.S. Dollars. If the dollar strengthes relative to a foreign investors currency he benefits from a more favorable exchange rate.
Finally, rest assured, the dollar has risen in value all week. No need to panic and definitely no need to adopt economic policies based in bad assumptions.
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RE: What I Wish I Knew About McCain? - 8/10/2008 10:33:08 PM
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blue1914
Posts: 398
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quote:
ORIGINAL: Dubya
quote:
ORIGINAL: blue1914
Since I just posted this in the thread about Mr. Obama, I would love to know from Mr. McCain his plan to deal with a mounting national debt (made up mainly of debt to other nations) in the face of a falling U.S. dollar (which raises the value of the debt by default).
This is flat out wrong! Considering how often you seem to interject this falacy in various threads makes me wonder where you are getting this nonsense.
First of all, the foreign holdings of our national debt totals less than 23% as of November 2007.
Secondly, the debt is purchased in the form of U.S Dollar based instruments... T-Bills, bonds, etc. If the dollar falls in value we do not owe more... the lending nation earns less in terms of his currency. He always receives the percentage interest according to the contract which is based in U.S. Dollars. If the dollar strengthes relative to a foreign investors currency he benefits from a more favorable exchange rate.
Finally, rest assured, the dollar has risen in value all week. No need to panic and definitely no need to adopt economic policies based in bad assumptions.
Perhaps your statements are based upon ignorance of the makeup of the U.S. national debt or they are ignorance of what is meant by the words I've selected to make up my sentences. Not an issue, I'll provide a little education on both.
First to the national debt. Please remember that there are really "two" debts. One debt is the value of the publically circulating U.S. currency instruments. Since there is no gold standard (or any hard currency standard for that matter), all U.S. currency is issued as a debt payable by the U.S. government upon demand. Currency in general is a big "IOU" from the U.S. government to any bearer of those dollars. At this point, the only thing supporting those "IOU's" is the full faith and credit of the U.S. government-in other words, a dollar is a dollar because the U.S. government says it's a dollar. As long as there is faith that the U.S. government will make good on any demand, the value of a dollar is trusted-that's really the basis of a "Fiat" currency. Of course in a system such as this there are TONS of options for failure, but the house of cards is standing for today, and that house makes up 52% of the total dollar amount owed.
The OTHER 48% ("hard" money that needs to be repaid) is made up of loans from other sources in the form of U.S. dollar denominated currency instruments-savings bonds, T-Bills, etc. etc. THAT debt is dominated (largest single expense in that catagory) by foreign owned U.S. dollar denominated currency instruments (about $1 trillion worth). The remaining 75% are made up to other smaller catagories. In terms of money that must be repaid, indeed, foreign debt intruments DO dominate the catagory.
Here's a little additonal background info for you to check out on the story. It's a basic overview, but it does touch the high points.
http://www.msnbc.msn.com/id/17424874/
Next to the statement about the value of the debt. Please note-I did not comment on the amount of the debt (which stays static) but instead the VALUE of the debt (which could be seen as a function of the value of the money which makes up the debt).
With inflation and deflation, the value of money does change over time (if you don't believe me, just look at the current value of the currency of Zimbabwe). The most common influencer of this is the faith foreign nations have in the economy of a country. That is what's been has been happening with the U.S.-and to your point of "rising" over a week, of course you have to realize that is a relative term and you have given no context. That said, I will choose an example base currency to attempt to complete your illustration. If you use the EUR/USD (Euro/Dollar) pair then yes, you are correct that the value of a dollar has risen over that of a Euro in the past week, but it's a little like putting one's thumb in a dike if you will. Put into context, this pair has GAINED (since the Euro is the base currency) over 100% of it's value since the launch of the single Euro currency in 1999. Long and short, foreign investors are consistently showing a greater confidence in the economies of the European Union than in that of the U.S.-and the pace is accellerating in recent years. Growth like this brings the possibility of something that affects that "first" national debt, that of U.S. dollar deonominated debt instruments.
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