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USA ON THE VERGE OF DEBT DEFAULT...*#@*&!!!!
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Cde Monomotapa
#21 Posted : Tuesday, July 12, 2011 11:55:03 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
The Republicans are the bulk owners of American capital & enterprise. They know these taxes are coming after their interests as main-street is taxed enough already.
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Mainat
#22 Posted : Tuesday, July 12, 2011 3:01:24 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Unlikely to default, although imho it'd actually help ze US economy in the long-term.
Ob's megaphone diplomacy has not worked as well as he had hoped but there is a plan B.
Sehemu ndio nyumba
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Kaigangio
#23 Posted : Tuesday, July 12, 2011 3:46:14 PM
Rank: Elder

Joined: 2/27/2007
Posts: 2,768
Mainat wrote:
Unlikely to default, although imho it'd actually help ze US economy in the long-term.
Ob's megaphone diplomacy has not worked as well as he had hoped but there is a plan B.


what i think is that the us government won't be able to cut near enough spending. And it'll be difficult to raise taxes as well.

don't forget also that as has happened elsewhere, government control of the quantity of money has always proved fatal.

The easiest way out for the government would therefore be to let its currency crash along with its economy...sending intense shockwaves to the rest of economies globally.

what could this plan b be?
...besides, the presence of a safe alone does not signify that there is money inside...
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hisah
#24 Posted : Tuesday, July 12, 2011 4:19:17 PM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
Kaigangio wrote:
Mainat wrote:
Unlikely to default, although imho it'd actually help ze US economy in the long-term.
Ob's megaphone diplomacy has not worked as well as he had hoped but there is a plan B.


what i think is that the us government won't be able to cut near enough spending. And it'll be difficult to raise taxes as well.

don't forget also that as has happened elsewhere, government control of the quantity of money has always proved fatal.

The easiest way out for the government would therefore be to let its currency crash along with its economy...sending intense shockwaves to the rest of economies globally.

what could this plan b be?


Iraqi dinars smile Revaluation would make the Fed trillions... Follow the money in wars...
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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accelriskconsult
#25 Posted : Tuesday, July 12, 2011 4:24:53 PM
Rank: Member

Joined: 4/2/2011
Posts: 629
Location: Nai
Cde Monomotapa wrote:
The Republicans are the bulk owners of American capital & enterprise. They know these taxes are coming after their interests as main-street is taxed enough already.



That is debatable. Republicans these days almost equals WASP - White AngloSaxon Protestant - with majority in the middle class.

The democrats have every hue of human skin colours that is known to man but very importantly can also boast of the poorest (read African americans and latinos) and the richest (Jewish and Irish immigrants).

I am not sure that taxes are the issue here rather that America is much more radicalised and on the cusp of another civil-rights-moment shift like in the mid sixties.

America managed to outsource not only jobs but also saving habits to China and the rest of Asia while also training the best Chinese and Indian minds to go back and develop their countries. I suppose that is just payback for a country built on the back of slave labour and the barrel of a gun. It is just a matter of time before it breaks up into smaller states in the same way that the Soviet and all other empires did.
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Mainat
#26 Posted : Tuesday, July 12, 2011 5:03:26 PM
Rank: Veteran

Joined: 11/21/2006
Posts: 1,590
Kagizzard-There are various, but the one mentioned is the huge wad of cash Federal Govt pays a for Security& Medicare every month.
Sehemu ndio nyumba
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Kaigangio
#27 Posted : Tuesday, July 12, 2011 5:39:02 PM
Rank: Elder

Joined: 2/27/2007
Posts: 2,768
Mainat wrote:
Kagizzard-There are various, but the one mentioned is the huge wad of cash Federal Govt pays a for Security& Medicare every month.


this might not help much considering that a large amount of it has been paid by the members (citizenry) through mandatory deductions...

...besides, the presence of a safe alone does not signify that there is money inside...
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Drunkard
#28 Posted : Tuesday, July 12, 2011 6:48:05 PM
Rank: User

Joined: 5/3/2011
Posts: 559
Cde Monomotapa wrote:
Kaigangio wrote:

...the only escape route for us is to start a world war!!

I have a buddy who believes the same. I myself very sure that in the event of a WW3 America will have little to no allies. It would be like our post-election where a convinient excuse was availed to vent-out pent up vendettas.


I don't know where you two get your analysis, but the facts first Japan economy is pegged to US economy in a way that if US economy collaps today, Japan economy will collaps too, secondly Chinease economy is heavy dependant on US economy, remember US market is the largest Chinease destination, forget about all other country, Chinease export is largely dependant on US market. Moreover, Chinease economy is what can be refered to as bicycle economy, it has to keep growing so that it doesn't collaps, remember as much as Chinease is experiencing double digit growth, it is also fighting a double digit inflation. If US collaps today, and Chinease economy lose US market and a number of large US companies providing employment in China, there will be a massive unemployement in China and possibly, protest and uprise against the Chinease ruling elites and don't think the ruling elites don't know this, they know it very well.

Lastly, US economy is still twice the size of Chinease Economy with only 350 million people.
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  | | Edit by user: Tuesday, July 12, 2011 6:50 PM | Reason: Not specified
hisah
#29 Posted : Wednesday, July 13, 2011 8:16:39 AM
Rank: Chief

Joined: 8/4/2010
Posts: 8,977
hisah wrote:
Cde Monomotapa wrote:
hisah wrote:
Cde Monomotapa wrote:
Look @ how Moody's is so soft on the U.S govt. & banks Laughing out loudly talk about don't bite the hand that feeds u.


Since those US rating agencies have messed with the Ching's euro buyout expect Dagong to rate the US debt as junk anytime from now...

Dagong started here --> http://www.bloomberg.com...easing-xinhua-says.html


NICE!! A dose of their own medicine! I believe the sooner they accept their problems and embark on fundamental solutions the better for us all. Bite the bullet, slip off the charts in favor of BRIC and re-emerge 20years from today instead of postoning yet spawning the problems further.

The political correct word for central planners is not postponing, but extend and pretend aka kicking the can down the street...


@Cde - Enter the dragon, crouching tiger vs fist of the monkey... Dagong follows up US debt downgrade... Now where's my popcorn smile

http://www.chinadaily.co...13/content_12889286.htm
$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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  | | Edit by user: Wednesday, July 13, 2011 8:22 AM | Reason: Not specified
Cde Monomotapa
#30 Posted : Wednesday, July 13, 2011 8:31:57 AM
Rank: Chief

Joined: 1/13/2011
Posts: 5,964
hisah wrote:
hisah wrote:
Cde Monomotapa wrote:
hisah wrote:
Cde Monomotapa wrote:
Look @ how Moody's is so soft on the U.S govt. & banks Laughing out loudly talk about don't bite the hand that feeds u.


Since those US rating agencies have messed with the Ching's euro buyout expect Dagong to rate the US debt as junk anytime from now...

Dagong started here --> http://www.bloomberg.com...easing-xinhua-says.html


NICE!! A dose of their own medicine! I believe the sooner they accept their problems and embark on fundamental solutions the better for us all. Bite the bullet, slip off the charts in favor of BRIC and re-emerge 20years from today instead of postoning yet spawning the problems further.

The political correct word for central planners is not postponing, but extend and pretend aka kicking the can down the street...


@Cde - Enter the dragon, crouching tiger vs fist of the monkey... Dagong follows up US debt downgrade... Now where's my popcorn smile

http://www.chinadaily.co...13/content_12889286.htm

BEAUTIFUL!! 1st U get the money, the power, then the respect! I am thoroughly enjoying this too. Thanks for the link man!
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