Buffett's Partner: 'It's Over' for U.S. Economy
- Thread starter WallStWhizKid
- Start date
Ron Paul if ever elected president would be blocked at every turn by both dems and republicans. Even if they went along, his whole platform is to dismantle the American Empire, so things would seem to be in drastic decline under his leadership. How long would the American people go along with massive cuts in govt programs and a reduction in American power and prestige around the world?
The fact is that the US constitution was not written for an Empire. So any leader who wants to return to constitutional govt as the founders intended will have to radically change the United States.
No leader who is truly honest with the American people...telling them that they are to blame and that they have to change..could get elected. That is the real problem.
The fact is that the US constitution was not written for an Empire. So any leader who wants to return to constitutional govt as the founders intended will have to radically change the United States.
No leader who is truly honest with the American people...telling them that they are to blame and that they have to change..could get elected. That is the real problem.
I think most Americans would be OK with "reduction in American power and prestige"... but NOT with "massive cuts in programs".
To get the deficit under control, likely many social programs need to be cut or trimmed and the number of government jobs need to be reduced.
So...
1. People who are used to getting a government benefit check no longer get one. What are they going to do for money, get a real job? Where?
2. Government employees who need to lose their jobs to shrink the size of government... what are they going to do? Also get a job? There aren't enough jobs now for the unemployed private sector workers. What happens when millions more of former government workers need to find work in the private sector?
The most logical outcome.... Government jobs, social spending and deficits continue to INCREASE until the economic system collapses... then nearly all of us will have NOTHING... (THAT BTW, is Obama's "Fundamentally reforming of America") setting the stage for a Socialist Dictator to come to power and run our lives for us.
If we don't voluntarily "restructure" ourselves (and I doubt we will), then some power hungry outsider is going to do it for/to us.
Minorities trying to take over the country. They own all the gas stations now. They get free grants and pay no taxes. Affirmative action got Obama in the White house and why a lot of qualified people can't get jobs. We need to get back to our values.
LOL..lol
U.S. Debt Totals $133 Trillion, China Prime Beneficiary of Fed Money Printing
Even if the government could somehow pay off that debt at the rate of, say, $100 MILLION PER DAY, EVERY DAY STARTING RIGHT NOW, IT WOULD TAKE 3,663 YEARS BEFORE THE TOTAL GOVERNMENT DEBTS AND OBLIGATIONS ARE PAID OFF.
Even if Washington were to pay off $1 BILLION per day, it would still take about 366 years before theyâre paid off.
The U.S. Federal deficit at $1.6 trillion
The officially recognized national debt at $12.1 trillion
$3.5 trillion owed to foreign investors
Unfunded national obligations of $106.5 trillion
Another $9 trillion in cumulative deficits over the next 10 years
At least another trillion dollars needed for health care reform!
Grand total: $133.7 TRILLION IN DEBT!
http://www.marketoracle.co.uk/Article15977.html
Some fine words outa Washington and then
as time goes on, it's back to the same old ways by Wall St.
You know it and I know it stinks but thats the way it is and will be.
US manufacturing could utilize the minimum wage ( $7 per hour ) to compete but as everyone knows the fatcats will just pocket even more of the pie if successful.
Not many would even bother to turn up for work at such low wages and to see the boss hauling home truckloads of money for an average performance - well it doesn't inspire the young and people starting much!! The older guys have all been squished into sullen acquiesence !!
as time goes on, it's back to the same old ways by Wall St.
You know it and I know it stinks but thats the way it is and will be.
US manufacturing could utilize the minimum wage ( $7 per hour ) to compete but as everyone knows the fatcats will just pocket even more of the pie if successful.
Not many would even bother to turn up for work at such low wages and to see the boss hauling home truckloads of money for an average performance - well it doesn't inspire the young and people starting much!! The older guys have all been squished into sullen acquiesence !!
Quote from Scataphagos:
I think most Americans would be OK with "reduction in American power and prestige"... but NOT with "massive cuts in programs".
To get the deficit under control, likely many social programs need to be cut or trimmed and the number of government jobs need to be reduced.
So...
1. People who are used to getting a government benefit check no longer get one. What are they going to do for money, get a real job? Where?
2. Government employees who need to lose their jobs to shrink the size of government... what are they going to do? Also get a job? There aren't enough jobs now for the unemployed private sector workers. What happens when millions more of former government workers need to find work in the private sector?
The most logical outcome.... Government jobs, social spending and deficits continue to INCREASE until the economic system collapses... then nearly all of us will have NOTHING... (THAT BTW, is Obama's "Fundamentally reforming of America") setting the stage for a Socialist Dictator to come to power and run our lives for us.
If we don't voluntarily "restructure" ourselves (and I doubt we will), then some power hungry outsider is going to do it for/to us.
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You have nailed it as usual....
We have repeated this message....how many times here....?
The equity and credit total change versus the add on by fabrication.....only makes the problems even larger....
Savers are being taxed at 100% via forced 0% rates....they are being further diminished....This is a government imposition of confiscation which is not labeled a tax but a change in monetary policy....the intelligent/hard working bailing out the losers....
A government imposition against individual money IS A TAX....
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In addition every single poly motion has indicated the further erosion of the small business valuation.....whose dimunition is the exact oppositie of what should be happening....for the essential pricing capability such that products can be moved in higher volumes....
Restructuring IS THE ONLY SOLUTION....
ie a 15% consumption tax only....
This in turn makes business valuations rocket....which in turn replentish banking numbers in a REAL SUSTAINABLE WAY....
Another way to ramp valuations is to enhance the world's stock exchanges.....to a more efficient RETAIL oriented fairer and more efficient....seamless in the language and currency of choice...no taxes of any kind....
The explosion upward in valuations ....in both equity of small business and public stock.....would dwarf the 2006/7 cumulative combined credit/equity numbers....
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However ....unless the right politician sees the light and arises from a bed of burned economic ashes.....this will never happen....
The first move by every govt. worldwide is to raise taxes....to cut down more orchard trees ....and expect more fruit....
ie the Brown/Obama clowns of the world are doing the world an incredulously horrid disservice.....
And crap like this will not change until truly qualified individuals are placed in proper positions .....Just read the wiki bios of those in these positions....It is as if one just put up a manufacturing plant to make cars with people who had no engineering experience or know how....like hiring a bunch of radio announcers.....
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I cannot wait UNTIL THE RESET BUTTON IS PRESSED....
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All your other points are fine but it really rubs me the wrong way when people talk about FUTURE unfunded obligations as if they are already owed right now.
Future obligations will have to be paid from future taxes and its quite likely benefits will have to be reduced (e.g. later retirement age, etc) which can cause big changes in this number.
Simply adding up all future costs of entitlements as they exist today and reporting that huge sum in the same breath as real debt is both meaningless and misleading. The real problem is serious enough that there is no need to resort to those tactics.