U.S. debt impasse could be 'catastrophic'
- Thread starter Machjo
- Start date
Oh dear... Gopher would be so upset to hear you talking like this.
P.S... If we're coming... we're bringing our flag and our guns with us.... Muuuuwahhahahaha
Not yet WOOOOOO!
This is one of those things. They'll most likely kick the can down the road.
If the GOP caves in and raises taxes... they're finished...
If the Democrats cave in and cuts without raising taxes.... they're finished.
Our government is far too big... time to cut out a lot. I'm not against getting rid of oil subsidies either.
If the GOP caves in and raises taxes... they're finished...
If the Democrats cave in and cuts without raising taxes.... they're finished.
Our government is far too big... time to cut out a lot. I'm not against getting rid of oil subsidies either.
The South Canadian flag. It's pretty too. How much longer do you think? 2-3 weeks?P.S... If we're coming... we're bringing our flag and our guns with us.... Muuuuwahhahahaha
Not yet WOOOOOO!
A lot of European nations aren't happy with the Euro. Seventeen nations without control of monetary policy used within their borders.
It is a nice looking flag. I like the way it fades into each other.
2-3 weeks at the latest.
THEN we all instantly become wicked awesome at Hockey!
All true, petros, but if the U.S. fails, we are going to be severely affected unless we can find more markets overseas. Even with the ability to trade with other countries instead of the U.S. we will still feel the effects if the economy down there implodes. I can't believe that the Republican guy - Boehner? - is stupid enough to think that they can just keep printing money ( which is based on nothing since the Regan years) and not raise taxes. Obama is in a lose/lose situation with the debt crisis - not of his making but definitely his problem now.
How is this now Boehner's fault? The GOP wants to cut government spending and that is how we can draw down the debt.
It is absolutely Obama's fault. He drove the debt through the roof!
The trade issue has already been taken care of. It's been in the works for almost 10 years now.
First things first, the budget needs a line item roll call to determine the effectiveness and the
worthiness of each program. People need to understand when you are going to live within
your means there has to be cuts to fit the budget.
Secondly the remarks about the protectionism are not always true. It should be remembered
many companies went to Asia on the cheapest price theory alone. All well and good until the
problems showed up and there were many.
the cost of shipping the cost of fuel and worst of all the race to the bottom for the standard of
living. Sure the products were cheaper, but then the people who used to buy had less money
or no money. When the wages dropped or dried up people couldn't afford to pay the taxes or
buy the big ticket items so they borrowed money they didn't have and couldn't pay back.
The credit card companies increased limits to keep the credit lines open so the economy would
continue.
Those cheaper prices now are mere memories even for the producing countries, they are slowing
down their economies because no one can afford to buy what they are producing. Combine that
with the fact the lates and first major round of WTO negotiations have come to nothing the vote
was dead on arrival and ten years of work is down the drain, their so called plan B is also a
failure.
People must understand, the western nations huge economic party is over for about twenty years.
Once they dig themselves out they will be forced to manage their economy in such a way that we
don't repeat old habits. This is not a short fix, Japan has been in recession since 1982 really and
is finally coming to grip with it. The reason they went on a prosperity binge just like the west and
its time to pay up
I agree with Obama though, the US can't put all the burden on the back of the poor it has to be
shared and equitable. Right now the Republicans just want cuts and their idea is too much to
fast and does not target the overall economy. In contrast the Democrats have to break the mold
they are in as well. You can't blame Obama either, he was handed this nightmare courtesy of the
Bush Administration that made a bad situation worse
America will likely see some measure of isolationism, by that I mean they will control where and
when they get involved in international crisis. They will also be forced to scale back foreign aid
programs. Protectionism will soon be linked to patriotism to create a sense of common purpose
and national pride. I would like to see some of that here as well.
The world economically is now struggling with the results of the me first generation that great sense
of entitlement that we all had, and its time to pay up.
worthiness of each program. People need to understand when you are going to live within
your means there has to be cuts to fit the budget.
Secondly the remarks about the protectionism are not always true. It should be remembered
many companies went to Asia on the cheapest price theory alone. All well and good until the
problems showed up and there were many.
the cost of shipping the cost of fuel and worst of all the race to the bottom for the standard of
living. Sure the products were cheaper, but then the people who used to buy had less money
or no money. When the wages dropped or dried up people couldn't afford to pay the taxes or
buy the big ticket items so they borrowed money they didn't have and couldn't pay back.
The credit card companies increased limits to keep the credit lines open so the economy would
continue.
Those cheaper prices now are mere memories even for the producing countries, they are slowing
down their economies because no one can afford to buy what they are producing. Combine that
with the fact the lates and first major round of WTO negotiations have come to nothing the vote
was dead on arrival and ten years of work is down the drain, their so called plan B is also a
failure.
People must understand, the western nations huge economic party is over for about twenty years.
Once they dig themselves out they will be forced to manage their economy in such a way that we
don't repeat old habits. This is not a short fix, Japan has been in recession since 1982 really and
is finally coming to grip with it. The reason they went on a prosperity binge just like the west and
its time to pay up
I agree with Obama though, the US can't put all the burden on the back of the poor it has to be
shared and equitable. Right now the Republicans just want cuts and their idea is too much to
fast and does not target the overall economy. In contrast the Democrats have to break the mold
they are in as well. You can't blame Obama either, he was handed this nightmare courtesy of the
Bush Administration that made a bad situation worse
America will likely see some measure of isolationism, by that I mean they will control where and
when they get involved in international crisis. They will also be forced to scale back foreign aid
programs. Protectionism will soon be linked to patriotism to create a sense of common purpose
and national pride. I would like to see some of that here as well.
The world economically is now struggling with the results of the me first generation that great sense
of entitlement that we all had, and its time to pay up.
Very well articulated. The operative question will be......are folks REALLY prepared to :"pay up"?? Some very tough choices need to be made. and they will not be pleasant to swallow. But one can no longer live on borrowed money and time. The reality is here and it is NOW. We as a people have no choice but to face up to the challenges and let go of the lifestyles that got us into this. We must also demand full accountability from the Gov't. Wars must stop.......as they are the biggest hemorrhaging factors. IF the US has to pull back on its aid ......then let the nations involved know just how much they can REALISTICALLY help. The public must know where their gov't is spending every penny of those hard earned tax dollars. Full financial transparency and stop manipulating people into believing what is not true. The Gov't can start with themselves. Reduce the perks and expensive conveniences. They are there to serve the people who elected them......not live in a lifestyle of rich and famous. It is totally out of control.
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People are not going to pull their heads out of their butts until the 2 X 4 hits them with full force. We have been living in a dream of endless fantasies for 60 years - the American dream with two car families and the white picket fence. Now we are waking up to the fact the the dream was a Wall Street soft sell con. But until the majority wake up nothing is going to change much. People will still line up for 24 hours to get the latest iPad or other useless electronic gadget. Don't expect there to be a sudden awakening for at least a few more years.
I think this must be an absolute shock to the American people ... to wake up one day and hear that the country is broke and social security cheques may not be in the mail. Just like Greece ... too many people living on easy street while no one is minding the mill ... the Grasshopper & the Ants ... someone forgot to plan for the rainy day. It's disastrous for the global economy, so hopefully the grasshoppers will stop screwing around and make the right decision. It might be a good idea to stop attacking countries like Libya and Syria. I wonder what will happen if Syria, Libya, Egypt, Italy, Yemen and other countries that had recent gov't protests are left to their own devices.
I can understand the general population being complacent (seeing Mummy and Daddy were always able and willing to meet their every whim) but what about these guys with degrees in finance and accounting who are looking after the country's books. And it's not just in the U.S. but right here, like our Ferry's head honcho gets handed $millions like it is mere chump change. Does our minister of finance have his head up his A$$?
The rich will suffer the most, as they have to sell off their Porches and then their mansions and pull their brats out of private snob schools.
Oh, how long have I waited for the reckoning.
You and me both Cliff. And it's going to happen just because there are a lot more of "us" than there is of "them". I think there is an old saying that goes something like "pride precedeth a fall".