Let us not forget this problem is not going away, and the democrats will have to face the music also. The western world has entered the age of experimental economics. It will fail in the UK as well as US. Blaming it on "right-wingers" is pandering and demagoguery. The simple facts remain.
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Congress "nutters" risk global finance: UK minister
- Thread starter ASusilovic
- Start date
Let us not forget this problem is not going away, and the democrats will have to face the music also. The western world has entered the age of experimental economics. It will fail in the UK as well as US. Blaming it on "right-wingers" is pandering and demagoguery. The simple facts remain.
Quote from gastropod:
YOU don't seem to get it! The American PUBLIC does NO SUCH THING! The a$$holes who have been SELECTED TO LEAD THE US do this. If you think US elections are NOT rigged...you have no idea about reality! The average American does NOT want to tell any other nation what to do. We do NOT agree with having the US military in 139 different territories/nations. We do NOT want to be the world's police! We do NOT agree with the "free trade" that has been used to GUT the US of good manufacturing and R&D jobs! We do NOT agree with the outsourcing that has stripped the wealth of the US. We do NOT agree with the a$$holes of Wall Street, who care only for themselves and not their fellow Americans!
As for the Brits telling us what to do...they started the "Quantitative Easing" bullSh!t - because the US and UK citizens would be up in arms if the real term - "printing money from nothing" were used.
If the average American does not want to to tell other nations what to do then in 2008 they would all have voted for Dennis Kucinich (if Democratic) or Ron Paul (if Republican). Both candidates are called "kooks" by our media masters and both got single digit percentages of the votes.
Quote from rew:
If the average American does not want to to tell other nations what to do then in 2008 they would all have voted for Dennis Kucinich (if Democratic) or Ron Paul (if Republican). Both candidates are called "kooks" by our media masters and both got single digit percentages of the votes.
Please reread my post. I believe the elections are completely rigged. The "politicians in charge" are controlling the elections. Even as a kid in elementary school (over 30 years ago) I was taught that "natural born citizen" meant two US citizens as parents and born on US territory. There are Supreme Court cases to back this up. The politicians and "handlers" of Odumbo KNEW THIS. Go check out what Pelosi et.al. sent out about their "certification" of Obama as the Democrat candidate...it did NOT state Odumbo was a US citizen..as is NORMALLY done. In fact Hawaii received a different notification than the other states. Do you REALLY think a Harvard trained CONSTITUTIONAL LAWYER did NOT know the US Constitution enough to know that he is not eligible to be president? Odumbo did not care that he is not eligible - Odumbo knew the powers that be would push him into office!
Quote from dtan1e:
aren't they all doing the same thing? defaulting without trying to look like they are through monetization, at least Iceland do u in the front, the rest try to do u in the back
Yes, that's what they are doing but our highbrow blowhards (many of whom grace these forums) would never admit to such a thing.
Quote from EMRGLOBAL:
Your Fu*(& morons are about as clueless as the rest of the "SHEEPOPLE about the "RISK OF DEFAULT". A "DEFAULT WILL NOT HAPPEN! This is a huge Buying Opportunity for a short spike when they reach a deal.
However , S&P will still downgrade if the US increases it's debt ceiling and does not get spending under control as will the ASIAN TIGERS dump their US BONDS on the open market than most of you nitwitz could tune into your CNBC show full of ass clown Pundits.
Finally, Futures INDX futures are down 120 which, considering all the financial storms brewing world wide, is nothing.
DOW should be trading near 6300-6500 and no where near these levels.
Thin volume, average joes fleeing the market and zero trust in the WALL STREET or the FED GOV.
Fall is going to be brutal as is the 4th quarter.
They will reach a deal because the REPS in office will sell out to the BIG GOVERNMENT IDEA and sell out to SOCIALISM.
I love your patriotic optimism but you have to remember that the US has defaulted 5 times since July 4 1776 already and you've only been in exitance for some 235 years!!
In August your estimated spending is $340 billion, estimated tax revenue $180 billion. This is actually one of the most 'balanced' months. In March, you spent $1.2 Trillion and only took in $130 Billion. Where will the persistant short fall come from? Let's forget the debt ceiling issure for a moment. There just isn't enough cash in the world for you to keep borrowing!!
I suspect there will be a deal between the House and Senate once each politician has voted in a way that will allow him or her to profess to his or her constituents that they acted in their best interests so "please re-elect me!" Once that is complete they can negotiate and raise the debt ceiling and avoid a default.
It's my feeling the short-term should be sacraficed for the long-term by raising the debt ceiling but can Congress and the White House be trusted to slash the budget by the advertised $2.2T? I doubt it. If the economy doesn't recover on its own -- and it's not -- the withdrawal of government spending will make things much, much worse. The depression that was averted in 2008/2009 could still lingering out there post-2012. Stay tuned....
It's my feeling the short-term should be sacraficed for the long-term by raising the debt ceiling but can Congress and the White House be trusted to slash the budget by the advertised $2.2T? I doubt it. If the economy doesn't recover on its own -- and it's not -- the withdrawal of government spending will make things much, much worse. The depression that was averted in 2008/2009 could still lingering out there post-2012. Stay tuned....
Quote from LeeD:
Well, US default is more dangerous hazard to global financial system than Greek default. However, maintaining US debt cap at the cost of the default would be a great long-term move for most US tax-paying residents, not so good for banks.
Given the recent bailout package for Greece I would think in the immediate term US default is more likely than Greek one.
Quote from EMRGLOBAL:
They will reach a deal because the REPS in office will sell out to the BIG GOVERNMENT IDEA and sell out to SOCIALISM.
They started the socialism by bailing out the Big banks.
They were insolvent in 2008, not "illiquid" as Hanky Panky said.
"Monday, 17 March 2008, 18:27
C O N F I D E N T I A L LONDON 000797
SUBJECT: BANKING CRISIS NOW ONE OF SOLVENCY NOT LIQUIDITY"
http://globaleconomicanalysis.blogspot.com/2010/12/interesting-wikileaks-regarding-mervyn.html
March 2008. When did Pauslon go to Congress for TARP?...
So he lied to Congress to bail out his buddies, instead of doing the right thing and going Swedish-nationalization on their asses.