With all due respect to the Republican point of view (I'm a proclaimed independent... They all suck, imo)... What is the game plan... How are all of these things (I mean all current policies in general) the elected branches have imposed upon the country, supposed to be of benefit to the people of America in the long run? I just don't see it. I can only see a major policy retracement to correct which appear to me, at this time, as devastating errors for the future.
Economy In Crisis
- Thread starter ktmexc20
- Start date
hmmm, let's see...why does this sound so familiar?
Oh yeh! You sound just like all the "it's-diffferent-this-time" crowd at the peak of the bubble.
True, we can't know the exact timing, but anyone can see we are headed for trouble. Well, anyone should be able to see, but that is not how the ever-hopeful human psyche works.
bt
Oh yeh! You sound just like all the "it's-diffferent-this-time" crowd at the peak of the bubble.
True, we can't know the exact timing, but anyone can see we are headed for trouble. Well, anyone should be able to see, but that is not how the ever-hopeful human psyche works.
bt
Quote from rhymeswithorang:
I started in this business in 1990, since then I have been ceaselessly told that (1) the consumer is about to collapse, (2) the CA deficit will be the end of the wordl, (3) the budget deficit will be the end of the world. The Japanese will buy us out, the Koreans will buy us out, the Chinese will buy us out, in that order. And of course there was the recent outsourcing hoopla.
http://www.foreignaffairs.org/20040501faessay83301-p0/daniel-w-drezner/the-outsourcing-bogeyman.html
cheer up
Sure, headed for trouble. And we're going to run out of oil. It just never seems to happen though does it?
Quote from rhymeswithorang:
Sure, headed for trouble. And we're going to run out of oil. It just never seems to happen though does it?
What is your idea of 'never'? A few decades?
bt
Impostor : How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Hardcover)
by Bruce Bartlett
"Bartlett, an economist and former Reagan administration official, attacks the Bush administration hard but from the political Right."
bt
by Bruce Bartlett
"Bartlett, an economist and former Reagan administration official, attacks the Bush administration hard but from the political Right."
bt
The US Financial position definitely looks bad. However, the rest of the OECD countries don't really look much better. Check out the attached spreadsheet.
Also the public debt is over $8.2 trillion, but only $4.8 Trillion is held by the public, including foreigners. http://www.publicdebt.treas.gov/opd/opdpdodt.htm
The other $3.5 Trillion is held in Govt trust funds. These are special non-marketable gov securities. BUT when it comes time to spend the money in the trust fund, where does it come from? Thin air like the rest of it. With annual budget deficits every year this debt will never be repaid but just rolled over and added to.
But this is really just a symptom of the real problem...politicians unlimited power to do whatever they please. Now the democrats & republicans have a duopoly on the political process and neither one has any interest in fixing anything that's wrong. People need to stop supporting political parties and vote independently for individual candidates based on their REAL track record; not what their party is SUPPOSED to stand for.
Also the public debt is over $8.2 trillion, but only $4.8 Trillion is held by the public, including foreigners. http://www.publicdebt.treas.gov/opd/opdpdodt.htm
The other $3.5 Trillion is held in Govt trust funds. These are special non-marketable gov securities. BUT when it comes time to spend the money in the trust fund, where does it come from? Thin air like the rest of it. With annual budget deficits every year this debt will never be repaid but just rolled over and added to.
But this is really just a symptom of the real problem...politicians unlimited power to do whatever they please. Now the democrats & republicans have a duopoly on the political process and neither one has any interest in fixing anything that's wrong. People need to stop supporting political parties and vote independently for individual candidates based on their REAL track record; not what their party is SUPPOSED to stand for.
Really? That must be why you did not vote for Clinton who balanced the budget, you did not vote for Gore who proposed to keep Social Security in a lockbox, you did not vote for Howard Dean who was governor of Vermont with an excellent track record. You voted for a failed businessman George Dubaiya Bush instead. Right now your suggestion is a tad disingenuous.