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US Debt in Pictures

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Calmday
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Postby Calmday » Fri, 05 Aug 2011 12:17 pm

nakatago wrote:
Calmday wrote: The problem now is that nobody wants to get it under control.


I beg to differ; the problem is everybody greatly disagrees on how to do it. And some people don't want to compromise--they just want things done their way or not at all.
Not true at all. At least half wanted to "cleanly raise the dept ceiling". Their argument was that it had been raises 30 times in the past so they don’t understand why it’s a problem now.
Well the reason its a problem now is the US has just joined an elite group who’s dept exceeds there GDP. Can you guess who some of the other members of this group are? Here is a hint. Greece, Ireland, Italy, Spain and Portugal.

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Postby Strong Eagle » Fri, 05 Aug 2011 12:18 pm

revhappy wrote:Dow Jones down 500 pts.

There is blood on street all across Asia today.

Taiwan is 400 pts down! Hong Kong 1000 pts down. Holy shit. Is this the beggining of a new recession?


Yes

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Postby Calmday » Fri, 05 Aug 2011 12:23 pm

Strong Eagle wrote:
revhappy wrote:Dow Jones down 500 pts.

There is blood on street all across Asia today.

Taiwan is 400 pts down! Hong Kong 1000 pts down. Holy shit. Is this the beggining of a new recession?


Yes
X2

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Postby Strong Eagle » Fri, 05 Aug 2011 12:26 pm

Calmday wrote:
Strong Eagle wrote:
revhappy wrote:Dow Jones down 500 pts.

There is blood on street all across Asia today.

Taiwan is 400 pts down! Hong Kong 1000 pts down. Holy shit. Is this the beggining of a new recession?


Yes
X2


Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.

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Postby nakatago » Fri, 05 Aug 2011 12:27 pm

Calmday wrote:
nakatago wrote:
Calmday wrote: The problem now is that nobody wants to get it under control.


I beg to differ; the problem is everybody greatly disagrees on how to do it. And some people don't want to compromise--they just want things done their way or not at all.
Not true at all. At least half wanted to "cleanly raise the dept ceiling". Their argument was that it had been raises 30 times in the past so they don’t understand why it’s a problem now.


And the other half probably didn't. How's that people not disagreeing? Some people see raising the debt ceiling as part of getting the debt under control, some don't.

and +1 on SE's post.

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Postby sundaymorningstaple » Fri, 05 Aug 2011 1:32 pm

Strong Eagle wrote:
Calmday wrote:
Strong Eagle wrote:
revhappy wrote:Dow Jones down 500 pts.

There is blood on street all across Asia today.

Taiwan is 400 pts down! Hong Kong 1000 pts down. Holy shit. Is this the beggining of a new recession?


Yes
X2


Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.


Interesting concept, half of america (or 30% if you are just including the Tparty'ers) are traitors, and half of america are saboteurs, trying to put the nails in our coffin even faster by ever increasing debt ceilings and wanting no curbs on it at all. Eventually, both are going to have a bad ending. I reckon the downgrade to AA will come/would have come in either scenario. The american public are going to destroy the country regardless of the party affiliation as either course of action is detrimental to the country's health which is currently in ICU and the prognosis is still terminal. Frankly, I think the compromise is just a start, but at least it's a start in the right direction. There has to be something to force a reverse in the current habits of just spend & spend & print some more...... and then just borrow from itself and charge itself interest.

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Postby nakatago » Fri, 05 Aug 2011 1:39 pm

sundaymorningstaple wrote:I think the compromise is just a start.



Gee, I think compromise is too strong a word to describe what happened... :roll:

But I agree that either extreme will ruin you all.

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Postby sundaymorningstaple » Fri, 05 Aug 2011 1:45 pm

If the president won't use common sense to realize that he just cannot keep raising the debt limit with instituting some measures to curb the excesses, then if he needed to be held hostage, it had to be done. He could have let it go and let the clock run out. Way I see it, he compromised as the end would have been sooner his way. At least now there is a chance of hope, albeit slim as hell, but better than nothing at all.

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Postby sundaymorningstaple » Fri, 05 Aug 2011 1:48 pm

Frankly, I'm tired of all the BS rhetoric from both sides. I'd like to see a rebel in office. There are a couple I could think of. Dog knows we couldn't do much worse that what is there now, including all of them, on both sides, currently in the wings waiting.

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Postby nakatago » Fri, 05 Aug 2011 1:53 pm

sundaymorningstaple wrote:I'd like to see a rebel in office.


Who? Those who said they were "rebelling" were muppets nonetheless.

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Postby Calmday » Fri, 05 Aug 2011 2:14 pm

nakatago wrote:
sundaymorningstaple wrote:I'd like to see a rebel in office.


Who? Those who said they were "rebelling" were muppets nonetheless.
Yep those are true words.

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Postby Calmday » Fri, 05 Aug 2011 2:19 pm

Strong Eagle wrote:
Calmday wrote:
Strong Eagle wrote:
revhappy wrote:Dow Jones down 500 pts.

There is blood on street all across Asia today.

Taiwan is 400 pts down! Hong Kong 1000 pts down. Holy shit. Is this the beggining of a new recession?


Yes
X2


Even though the debt ceiling increase was finally realized, the right wing extremists already managed to destroy confidence in the US dollar and debt. People woke up and saw that extremist ideologues could put US debt into the same basket as Greek debt. My view is that the T Party extremists who would hold the US hostage ought to be treated as traitors.
LOL the only group with the slightest bit of fiscal responsibility are traitors?
You need to get off of the Kool-Aid.

The US national dept now equals the GDP. Do you not see a problem with that? Do you think its ok to just keep raising the dept ceiling?
I didnt want them to raise it at all. It would have forced them to make some real cuts.
Last edited by Calmday on Fri, 05 Aug 2011 2:22 pm, edited 1 time in total.

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Postby nakatago » Fri, 05 Aug 2011 2:19 pm

I think I found a potential prez...http://youtu.be/cSvva3ZOlNg

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Postby Strong Eagle » Fri, 05 Aug 2011 3:21 pm

Calmday wrote:LOL the only group with the slightest bit of fiscal responsibility are traitors?
You need to get off of the Kool-Aid.


I don't see how you can say they are fiscally responsible, when all they did is look at one small portion of the overall fiscal situation... the debt and the deficit.

They failed to look at the real problem in the US, which would go a long way to reducing deficits if handled, and that is employment.

They chose to completely ignore the fallout of their actions in the world markets.

They completely ignored the fact that even before the austerity measures passed, economists were warning of a downturn as a result... and the market sell off is a sign that investors expect another downturn.

So, who's actually drinking the Kool-Aid? Me, with a broad perspective of the consequences of the extremists actions, or you, who ignores all but one sliver of the economic puzzle?

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Postby Manthink » Fri, 05 Aug 2011 4:45 pm

revhappy wrote:Dow Jones down 500 pts.
There is blood on street all across Asia today.
Taiwan is 400 pts down! Hong Kong 1000 pts down. Holy shit. Is this the beggining of a new recession?


Double dip?

I see 危机 - kinda like danger + opportunity.

Or from Buffett's perceptive - "be greedy when others are fearful"


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