US government...bigger theives than you thought.

[denner]

Quote from peilthetraveler:

Heck even if they dont riot, I at least expect some mainstream media coverage about this though and not have to read about this type of crap in a CANADIAN newspaper!

That's the insidious nature of US based conglomerates having majority ownership of most media outlets. It's further complicated by the fact that several of them received government bailouts/subsidies to "weather the storm" in 2008. So I'm not at all surprised that a Canadian newspaper has more in depth coverage of this event. More often than not, foreign newspapers will cover highly "sensitive" issues that US based newspapers and media outlets will only cover superficially.

The upside is that the blogosphere covers these issues ad nauseam, so it's not as if people are not completely oblivious to what is going on.

 

[hippie]

Quote from macroman:

if it is true that image is everything then US lost it all.

now it feels like 3rd world country, except worse as people indebted unlike poor countries.

And too many has an entitlement mentality. Nothing is good enough for them if they can get the government to pay for it. Just make a baby, and the benefits will keeps coming, but it is never enough.

 

[clacy]

Quote from Martinghoul:

As I have mentioned before, shouldn't we all be happy with this? This is the govt effectively taking money out of the retirement accounts of govt employees...

I thought cutting public sector benefits was supposed to be a good thing?

They are mandated to pay these retirement promises, so they are not cutting public sector benefits. Essentially they are using a credit card, which they know the Congress cannot cut off.

 

[Martinghoul]

Quote from clacy:
They are mandated to pay these retirement promises, so they are not cutting public sector benefits. Essentially they are using a credit card, which they know the Congress cannot cut off.

Well, they're mandated to pay many things... However, promising to pay is one thing, while actually not paying is another.

Quote from ElCubano:
How is this a good thing?

Well, that was my impression of the majority view here on ET.

 

[Kassz007]

Quote from EMRGLOBAL:


Do not for get the CORPORATE SCUM THAT YOU BOYS TRADE or PRETEND TO TRADE ALL DAY LONG! 90% of the listed companies on the US STOCK EXCHANGE are scum sucking Parasites who not only receive bail outs and "Tax Favors" from Uncle OBAMA and both the REPS and DEMS, they contribute nothing but low paying jobs for the most part.

Your rant against publicly traded companies and traders is non-sensical and irrelevant to the topic of the thread. And I'm sure nobody appreciates being yelled at, denoted by the capital letters you feel compelled to use.

But you do raise a good point about political contributions by corporations and the inherent conflict of interest that arises from this. The USA should implement a law like we have in Canada that bans corporations (and trade unions) from donating to politcal parties.

http://www.elections.ca/content.aspx?section=vot&dir=bkg&document=ec90557&lang=e