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Old 10-08-2009, 08:49 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,799,177 times
Reputation: 2519

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Quote:
Originally Posted by Indurain View Post
What business is it of mine?

None of your business.

continue.
Well okay then...

I thought part of the problem with the US is it was always sticking it's nose into others business...
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Old 10-08-2009, 08:52 AM
 
Location: Saturn
1,519 posts, read 1,625,738 times
Reputation: 246
Quote:
Originally Posted by irspow View Post
Isn't there a "ignore foreign enemies" button?
You prerogative, of course.


I know that some in this place, and the people who run this place, would prefer only one particular point of view to be expressed.
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Old 10-08-2009, 08:53 AM
 
Location: Saturn
1,519 posts, read 1,625,738 times
Reputation: 246
Quote:
Originally Posted by oz in SC View Post
Well okay then...

I thought part of the problem with the US is it was always sticking it's nose into others business...
I'm returning the compliment............so to speak
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Old 10-08-2009, 08:55 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,799,177 times
Reputation: 2519
Quote:
Originally Posted by Indurain View Post
I'm returning the compliment............so to speak
That was my point...it was wrong for the USA to do it...

But okay for you???

Anyway back to the topic.

What are the valiant efforts of Obama to stop the economic slide in the USA?
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Old 10-08-2009, 09:04 AM
 
Location: Saturn
1,519 posts, read 1,625,738 times
Reputation: 246
Quote:
Originally Posted by oz in SC View Post
That was my point...it was wrong for the USA to do it...

But okay for you???
Just returning the compliment as I said earlier.

Pre-emptive fire is what your lot specialise in however.

And don't try to equate me with your kind. Thanks.




Quote:
Originally Posted by oz in SC View Post

Anyway back to the topic.

What are the valiant efforts of Obama to stop the economic slide in the USA?
Yep, back on topic.

How do you unwind trillion dollar deficits, in the space of 10 months?

Hard one to develope a strategy for - and even harder to implement in a country (world) which almost came to the brink of financial oblivion in September 2008.

I don't expect quick results to a solution.
In fact given the havoc wreaked by Bush, the current problems will take years to resolve.
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Old 10-08-2009, 09:10 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,799,177 times
Reputation: 2519
Quote:
Originally Posted by Indurain View Post

How do you unwind trillion dollar deficits, in the space of 10 months?
It appears you do it by spending a few more trillion dollars....who knew that was how you get out of debt...
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Old 10-08-2009, 09:24 AM
 
Location: Saturn
1,519 posts, read 1,625,738 times
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Quote:
Originally Posted by oz in SC View Post
It appears you do it by spending a few more trillion dollars....who knew that was how you get out of debt...
Well what would you have him do?
sit idlely by while GM goes up in smoke?
Or Chrysler for that matter?
or ford?
adding more to the dole queues won't help.

The simple fact of the matter is that your country is in a terrible bind right now.
Your economy is imploding.
Your currency is imploding.

Exaccerbated by the financial world being literally turned on it's head between august 2007 and october 2008, the weaknesses identified by a whole range of economists during the 2000-2008 period are now coming home to roost.
The policies pursued between 2000-2008 were utter folly in relatively good times : they're now the impending death knell since the finanical tsunami hit Sept/oct 2008.

The govt is the only agency in town right now that can keep economic activity going where you are.

Spending money and ensuring that money spent is done so properly is the correct way to go.

Spending money by starting wars or giving tax breaks to your rich friends isn't spending money wisely (see 2000-2008).
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Old 10-08-2009, 09:26 AM
 
Location: the very edge of the continent
88,565 posts, read 44,294,084 times
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Quote:
Originally Posted by Indurain View Post
You should have expressed that same advice to Bush and Greenspam in the early years of this decade, amigo.
Can we please go back to the level of Bush's deficits, at the very least - preferably less? Obama's deficit spending is/will be totally out of control.

"In the first independent analysis, the nonpartisan Congressional Budget Office concluded that President Obama's budget would rack up massive deficits even after the economy recovers, forcing the nation to borrow nearly $9.3 trillion over the next decade."
With chart:
Bush vs Obama Deficit - washingtonpost.com

Bernanke's warning:

"U.S. Federal Reserve Chairman Ben Bernanke told lawmakers Thursday that the dollar's status as a global reserve currency isn't at risk in the near term, but warned that could change if fiscal deficits aren't brought under control."
Bernanke: Dollar Will Be At Risk If U.S. Doesn't Control Budget Gap

Even Warren Buffett, an Obama supporter, warns about huge federal deficits and an increase in the Debt-to-GDP ratio:
The Greenback Effect - The New York Times
Warren Buffett warns budget deficit may harm dollar - Telegraph
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Old 10-08-2009, 09:29 AM
 
Location: North Cackelacky....in the hills.
19,567 posts, read 21,799,177 times
Reputation: 2519
Quote:
Originally Posted by Indurain View Post
Well what would you have him do?
sit idlely by while GM goes up in smoke?
Sure...did you think GM was simply going to vanish if it declared bankruptcy...oops hang on it DID declare BK and also took the people's money.
Quote:
Or Chrysler for that matter?
See above.

Quote:
or ford?
Ford took none of the peoples money via the fedgov. they did it the old fashioned way and sold cars.

Quote:
adding more to the dole queues won't help.
Psst job losses are continuing...

The simple fact of the matter is that your country is in a terrible bind right now.
Your economy is imploding.
Your currency is imploding.


Quote:
The govt is the only agency in town right now that can keep economic activity going where you are.
By spending more money... money it doesn't have and must borrow....and printing more of course....

Quote:
Spending money and ensuring that money spent is done so properly is the correct way to go.
LOL....I will remember this.

Quote:
Spending money by starting wars or giving tax breaks to your rich friends isn't spending money wisely (see 2000-2008).
Obama is doing nothing to stop those wars....and is simply rewarding HIS rich friends.
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Old 10-08-2009, 09:34 AM
 
Location: the very edge of the continent
88,565 posts, read 44,294,084 times
Reputation: 13521
Quote:
Originally Posted by Indurain View Post
6.The structure of the US economy does not lend itself to engendering international confidence.
Personal debt levels were/are far too high.
Corporate debt levels were/are too high.
You forgot to add... National debt levels were far too high, and even worse, are now growing exponentially higher in Obama's term.
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