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Old 07-17-2014, 09:28 AM
 
29,419 posts, read 18,645,442 times
Reputation: 5437

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Quote:
Originally Posted by HappyTexan View Post
The BRIC countries have tried for years to make inroads with the first tier countries and continually got snubbed.
BRIC is the future, like it or not. They are not burdened by sovereign debt like the first world countries.
They are coming up to speed in education and have a growing middle class of consumers who are also not burdened by debt.

This is globalization folks. No empire lasts forever and all empires since the beginning of time go through the same growth, stagnation, termination cycles.

First world countries are in denial and the IMF is their vehicle by which they keep these countries at bay via loans with absurd strings attached.
You pegged it there. Thing is we are not helping ourselves but everybody else who wants us to go down. Writing on the walls. Our children and our children's children will feel the pain. Hey we had a good run. Best of all time. I got to see Gretzky, Jordon, Brett, best players to walk earth. I'm sure some heroin addict somewhere was better but we will never know. lol. Ride the tide............

 
Old 07-17-2014, 09:35 AM
 
Location: Great State of Texas
86,093 posts, read 72,194,328 times
Reputation: 27563
Quote:
Originally Posted by Fancy-Schmancy View Post
Oh, because we've gotten used to clean air, clean water, and a lack of earthquakes in Oklahoma...

And every time someone tries to develop a new energy source (Solyndra?) the Right freaks out because it isn't an instant success.
Are you serious ?

Solyndra was a failure from the start.
China is the leader in solar panels and has been for a number of years.

Any knowledgeable person with some business background can point that out.
Solyndra was donor payback pork.

Why didn't the USG sink their money into a successful US company like First Solar ?
 
Old 07-17-2014, 10:53 AM
 
1,696 posts, read 1,456,458 times
Reputation: 1445
Quote:
Originally Posted by KUchief25 View Post
Solyndra is gone..............money tossed into the trash can. New source? Why? What the hell do we need new energy sources for? Explain that. Oh sure hundreds of years from now we may need em. By then the private sector will have done it. Get big bro out and stop wasting our tax dollars on BS like solyndra. Is it that hard to figure out?
Estimates are we have about 50 years of oil left. That's not 'hundreds of years'.

And every other major country is pumping billions into getting there first. Gov't money. If they crack the problem first, we're going to be paying them for the tech instead of the other way around.

Shortsighted thinking is what got us into trouble before.
 
Old 07-17-2014, 11:33 AM
 
25,060 posts, read 23,043,735 times
Reputation: 11618
Quote:
Originally Posted by BentBow View Post
Don't we owe China more than we could ever repay. Printing it to pay off debts, without inflating the US dollar? I have some ocean front property in North Dakota for sale.

Are we indebt to China and all the others holding our debt?
No, we don't. Most of our national debt is money we owe ourselves

Quote:
Originally Posted by AONE View Post
I think what you are seeing is an attempt to get oil to change from being backed by the dollar to another currency. this would cause a massive destabilization of the US economy. We will be faced with the $10-20/ gal oil prices.

I suggest you support the presidents push to get us off oil as our energy. To stay on a 19'th century technology will not be a good thing. We can have better and protect our economy.
I do, too. We need 21st century nuclear power with thorium, not 20th century uranium fission. If any agency can find a way to get nuclear fusion and thorium off the ground, it would probably be NASA.

Quote:
Originally Posted by BentBow View Post
Then there is a thing called collateral. You don't get a loan on good faith, ever.
Yes, you do, BentBow. When you're the US government you can. You Austrians need to stop equating household debt and finance with government. The two are NOT one and the same when you are the USA.
 
Old 07-17-2014, 09:12 PM
 
8,487 posts, read 5,876,975 times
Reputation: 1114
Quote:
Originally Posted by KUchief25 View Post
US funds the IMF. 20% I believe maybe more. We sent 16 trillion dollars to europe after the "collapse" of the market. All printed up nice and neat. Nobody cares other than Ron Paul and he is a lunatic according to everybody. Only financial power we have is to make sure oil is traded in US dollars. That ends look out.
If you are looking at quotas US is just under 18%. US voting power is less than 17%. Changes have already been agreed to. So it is simply a matter of time before we start to see them. SDRs are already being implemented all over. Just not widely discussed in mainstream. They are the central banks of the worlds unit of account.

The race to kill the dollar will only expedite it.
 
Old 07-19-2014, 09:22 PM
 
Location: Las Vegas,Nevada
9,427 posts, read 5,734,344 times
Reputation: 1530
Quote:
Originally Posted by Grsz11 View Post
Good for them. Let them bail out all the third world countries they want.
I will love to see the excuse they come up with when they dont..

Great post BTW.
 
Old 07-19-2014, 09:23 PM
 
Location: Las Vegas,Nevada
9,427 posts, read 5,734,344 times
Reputation: 1530
Quote:
Originally Posted by theunbrainwashed View Post
No, we don't. Most of our national debt is money we owe ourselves



I do, too. We need 21st century nuclear power with thorium, not 20th century uranium fission. If any agency can find a way to get nuclear fusion and thorium off the ground, it would probably be NASA.



Yes, you do, BentBow. When you're the US government you can. You Austrians need to stop equating household debt and finance with government. The two are NOT one and the same when you are the USA.
How are they not the same?
 
Old 07-19-2014, 09:45 PM
 
Location: Out West
22,496 posts, read 16,657,429 times
Reputation: 26067
Quote:
Originally Posted by KUchief25 View Post
US funds the IMF. 20% I believe maybe more. We sent 16 trillion dollars to europe after the "collapse" of the market. All printed up nice and neat. Nobody cares other than Ron Paul and he is a lunatic according to everybody. Only financial power we have is to make sure oil is traded in US dollars. That ends look out.
Doesn't matter how crazy some people think Paul is, that man knows his economics.
 
Old 07-19-2014, 10:00 PM
 
25,060 posts, read 23,043,735 times
Reputation: 11618
Quote:
Originally Posted by gunlover View Post
How are they not the same?
The biggest difference between the US government and a private person is that the power of the US economy allows us to borrow money on good faith that it will be paid back. You cannot function on a zero public debt economy. Ever. Our public debt is money that is in circulation. Pull that out, and deflation will be the effect, making our exports more expensive.

Quote:
Originally Posted by Three Wolves In Snow View Post
Doesn't matter how crazy some people think Paul is, that man knows his economics.
So does Paul Krugman
 
Old 07-19-2014, 10:11 PM
 
Location: ATX-HOU
10,218 posts, read 6,758,500 times
Reputation: 2033
Quote:
Originally Posted by Compression View Post
For the moment, we are still the only hard currency in town. Challenges are being made. When we owe dollars that are basically worthless, the bank will own us, regardless of the amount owed.

While our fearless leader is trying hard to cripple our domestic energy sources, it seems that the bakken reserve, and I've heard recently about another huge reserve just discovered in southern gulf states that supposedly could have us independent of any foreign sources for some time to come.......if allowed to be developed without undue govt intervention. If that was the case, five nations, or all the nations forming a new world bank with it's currency pegged to a barrel of oil wouldn't matter much.

Wonder why there is such opposition in this country for drilling, fracking, and developing new energy sources in general?

CN.......
You do realize we are producing more oil than ever? And it's occurred under Obama.... Not that Obama has really had a large hand in this from a policy perspective. Nevertheless, production has soared.

What you should be more concerned about is how we can export O&G while balancing the cheap feedstocks used in manufacturing.
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