BF2S Forums Japan Overtakes China as Largest Creditor to US

Yet another ominous sign.

Rumors are that by this summer it will be official; depression.
BK's by states to follow. Currency crash.

That's why they are robbing the till now.

ATG wrote:

Yet another ominous sign.

Rumors are that by this summer it will be official; depression.
BK's by states to follow. Currency crash.

That's why they are robbing the till now.

so?

Macbeth wrote:

On a sidenote, Axe makes the most annoying commercials.

Old 70's scents in a new package .. silly

Last edited by jsnipy (2010-02-16 19:07:40)

jsnipy wrote:

ATG wrote:

Yet another ominous sign.

Rumors are that by this summer it will be official; depression.
BK's by states to follow. Currency crash.

That's why they are robbing the till now.

so?

Macbeth wrote:

On a sidenote, Axe makes the most annoying commercials.

Old 70's scents in a new package .. silly

So, like us commoners making a run on the local savings and loan devalues the integrity of the bank a major holder of U.S. debt dumping it at fire sale prices will quickly make it more difficult for the government to borrow money making a systemic meltdown more likely.

The fat cats that have wrought  this crisis are making sure they are well protected before the crash.

sounds like a time to buy t bonds

when that happens

http://www.treasurydirect.gov/tdhome.htm

Lol China will just fuck over their largest consumer if they dropped all their bonds. Not a good business plan. They're dropping bonds over the whole arms sale thing.

Turquoise wrote:

JohnG@lt wrote:

ATG wrote:

So, like us commoners making a run on the local savings and loan devalues the integrity of the bank a major holder of U.S. debt dumping it at fire sale prices will quickly make it more difficult for the government to borrow money making a systemic meltdown more likely.

The fat cats that have wrought  this crisis are making sure they are well protected before the crash.

This has nothing to do with the bankers. This has everything to do with the fiscal irresponsibility of our politicians over the past 80 years.

Actually, bankers and politicians go hand in hand.

Of all the lobbies in government, the financial sector is probably the most powerful of them all.  Then again, that's not too surprising, considering that the Treasury is integral to the economy, and the Fed Reserve is essentially an extension of the private sector given governmental powers.

So yes, it has just as much to do with bankers as with politicians, because more often than not, the bankers are the ones influencing the policies to begin with.

Before the Fed, bankers influenced the government to stay out of the market.  After several crashes, the creation of the Fed Reserve became a consolation to interventionism that still kept most of the power among the private sector.

The government singlehandedly never held much power in our economy after the fall of the Second Bank.

So the banks forced Congress to cut taxes and give out 'rebates' during two wars and they also forced Congress to sign Medicare Part D into law? We're 11 trillion dollars in debt and it's got nothing to do with the banks. It has everything to do with Congress refusing to balance it's checkbook because it is terrified of raising taxes or cutting benefits to seniors and losing out on re-election because of it.

I blame Reagan for justifying his massive defense spending outlays with bastardized Keynesian economic theory. He's created a built in excuse for every Congress since to spend more than it takes in with the flimsy reasoning of 'cutting taxes creates surpluses later'. Bullshit. That happens if every penny saved on taxes is invested on capital goods that have a return on investment... which does not happen.

We're in dire financial straits because our politicians have been kowtowing to populist idiots who flip out every single time a tax increase is mentioned but don't you fucking dare touch defense spending or medicare/SS either. We the people have put our politicians between a rock and a hard place. We are the reason the country is 11 trillion+ in debt.

Spark wrote:

I have heard about this, about how a frighteningly large portion of America simultaneously wants more services/etc and less taxes without kind of making the connection between services and, well, paying for them.

It's ridiculously widespread. I had an argument with a few people on another forum I frequent the other day.

I was going to paraphrase what I said, but it's pretty good stuff and I'm too tired to repeat it so here's the link: http://www.softballfans.com/forums/show … st10247362

I go by Schu there (which I'm about to put in a request to here as well ).

Spark wrote:

JohnG@lt wrote:

Spark wrote:

I have heard about this, about how a frighteningly large portion of America simultaneously wants more services/etc and less taxes without kind of making the connection between services and, well, paying for them.

It's ridiculously widespread. I had an argument with a few people on another forum I frequent the other day.

I was going to paraphrase what I said, but it's pretty good stuff and I'm too tired to repeat it so here's the link: http://www.softballfans.com/forums/show … st10247362

I go by Schu there (which I'm about to put in a request to here as well ).

"boards biggest prick"

JohnG@lt wrote:

Spark wrote:

JohnG@lt wrote:

It's ridiculously widespread. I had an argument with a few people on another forum I frequent the other day.

I was going to paraphrase what I said, but it's pretty good stuff and I'm too tired to repeat it so here's the link: http://www.softballfans.com/forums/show … st10247362

I go by Schu there (which I'm about to put in a request to here as well ).

"boards biggest prick"

---

Was also surprised to see you hold Australia's superannuation scheme in such high regard - I know it works well, but that well? Given that the last few years haven't been exactly good (although one or two bad years do not impact significantly in comparison to twenty good ones which is basically what we've had). Even moreso because the whole scheme is the intellectual brainchild of probably the most prominent leftist politician in the last thirty years.

Varegg wrote:

JohnG@lt wrote:

ATG wrote:

So, like us commoners making a run on the local savings and loan devalues the integrity of the bank a major holder of U.S. debt dumping it at fire sale prices will quickly make it more difficult for the government to borrow money making a systemic meltdown more likely.

The fat cats that have wrought  this crisis are making sure they are well protected before the crash.

This has nothing to do with the bankers. This has everything to do with the fiscal irresponsibility of our politicians over the past 80 years.

The politicians represent the people aka they are the people ... if you claim fiscal irresponsibility over the last 80 years you actually admit that capitalism in it's purest form doesn't work ...

Umm... no. The 80 year mark is from when FDR was president and turned us from a capitalist economy into a mixed economy. The socialist half is what is fucking over this country in the long term. Medicare/Medicaid/Social Security are bankrupting this country.

Has nothing to do with a failure of capitalism.

Varegg wrote:

JohnG@lt wrote:

Varegg wrote:

The politicians represent the people aka they are the people ... if you claim fiscal irresponsibility over the last 80 years you actually admit that capitalism in it's purest form doesn't work ...

Umm... no. The 80 year mark is from when FDR was president and turned us from a capitalist economy into a mixed economy. The socialist half is what is fucking over this country in the long term. Medicare/Medicaid/Social Security are bankrupting this country.

Has nothing to do with a failure of capitalism.

The socialist half?

First attempt even resembling a hint of socialism in the US came with Hillary Clinton as the Presidents wife and that was torpedoed fast and efficiently, if it came to pass back then you would have had UHC for the last 20 years and the short time cost would have been taken at the time when your nation could afford it ... nice going!

And how exactly is Medicare/Medicaid/Social Security bankrupting your country today? ... because that's not it really, overspending in general is your problem and that is connected with how your kind of capitalism have failed utterly ...

UHC won't solve the health care problem in America, it's people who have an unhealthy life that causes most of the health care spending. Hell now obesity related issues cost more than smoking related.

You do realize Ms. Clinton is in the health care industries pockets right? They already fucking bought her out. That is not "capitalism," that is simply a government influenced economy. No matter what, health care companies and pharmaceutical companies will still rake billions no matter what bill congress will pass.

The people's money will still be spent NO MATTER what, either to insurance companies or the government. If they really wanted to solve the health issue in America, maybe they should think about dropping that fucking burger.