Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Equities and commodities declined for a third day on concern President Barack Obama’s plan to rein in banks and a possible interest-rate increase in China .
Equities and commodities declined for a third day on concern President Barack Obama’s plan to rein in banks and a possible interest-rate increase in China .
Guess it's time for another stimulus.
Nothing a trillion or so.....can't fix.
Hell....if we just keep doing this about every 3 or 4 months for the next decade or so.......it might just work out.
I mean.....it has worked so well with the War on drugs and many, many other pet projects the govt. has going.
Like watching a juggler with too many balls.
But the balls are OUR tax money, falling onto the floor.....rolling away and this juggler just says...."oh well.....I can handle ONE ball pretty good but it'll cost you bigtime."
"I have more fun dropping all your balls and besides....it pays better."
Yes, I sure have. Mark my words. The likes of those two individuals will be in here in short order to tell us that Democrats never had a supermajority, unemployment is not as bad as it seems, banks are evil, George W. Bush is the reason for the recession, the 80's recession had a similar fallout, and Obama has all the answers. Therefore, we have nothing to worry about.
So as a taxpayer the conservatives still want me to bail out banks who fail because they practiced risky investment schemes? Nor can there be such a thing as banks too big to fail because we don't want a Chinese or other foreign bank to be bigger than an American.
So as a taxpayer the conservatives still want me to bail out banks who fail because they practiced risky investment schemes? Nor can there be such a thing as banks too big to fail because we don't want a Chinese or other foreign bank to be bigger than an American.
They already are.
Much investing went into Dubai.......which has gone broke....like California and sooo many other states and countries.
The "real" money went overseas a long time ago.
Along with the speculation and investments.
It sure hasn't stayed here.
Dubai....was seen and still is to many....as the new Babylon.
A city that some would probably like to see as the Capital of the World.
Just gotta get everyone on board first.
NWO via globalization and it's ALL....too big to allow to FAIL now?
America has been closing up shop for quite a while and is rapidly becomming like an old ghost town on the global scene.
Many other nations also can relate.....but others, are rising up out of ghost town status (3rd world status).....at OUR expense and with the help of OUR leaders and policies.
Too bad for America though.
Why should they care about a nation that's growing old and fat, and it's largest workforce population is retired or trying to retire.....and in failing health associated with their age......and a much smaller, less productive workforce population to follow that is just not seen as worthy of investing in HERE or anywhere else.
China and many other nations also have far more loyalty and patriotism of their country and their people......right or wrong........than anything in America.
Americans no longer possess the kind of loyalty and UNITY that is truly needed to stay a strong nation or be a strong nation.
So.....America is being forced to start shutting off the lights and saying "good night" it appears.
Yeah, people are finally waking up, but the enormity of our problems along with those....globally, only spells big trouble no matter who or what we elect.
Well, my, my, my. Aren't we a bit wee fast to write off this great country? I hate to break it to you doomsdayers, but ... Americans are fighters. They will NOT just let this country sink. Not going to happen, EVER.
I'm not a big fan of Obama, I don't like the man at all. However, he's actually taking a step in the right direction now. Is it too little too late? Maybe, maybe not. Only time will tell.
Things aren't as dismal as they look. There are actually a good number of things that can still be done that would turn things around quickly.
Most of the big businesses here took their bases overseas because labor was cheaper there. With the expenses of everything here, there's no way our labor force could live on wages similar to that of other countries.
However, if laws were enacted that prohibited companies from taking their American base overseas for cheap labor and then selling their products on American soil, it'd help reduce the number of job losses in the US.
If American companies insisted on moving their base of operations overseas due to cheaper labor, despite such a law (as suggested above) they could be given a large tax for such actions. The fines could be put into a trust such as what Obama's suggesting with the Bank tax.
Secondly, another measure that would help would be to have laws enacted that prohibit American companies from selling American-made goods at higher prices to Americans than they sell them for in other countries.
Example: If automaker XYZ builds a car in the US and sells it in China for $4,000.00 they wouldn't be able to sell it to Americans for $40,000.00. It'd have to be sold to Americans for $4,000.00 also, either that or they'd have to raise their China sale price to $40k too.
Too bad there aren't enough Senators in Congress that are trying to come up with fresh ideas to help restore the health of the country. That's why we need to vote out the lifers and get some new talent in Congress regardless of what party they belong to.
Put down the party line, and start pulling the "support America" line, and we'd see a vast improvement. But, unfortunately ... that's not going to happen. Folks will stick to their party line just as they always have in the past and it'll be up to individual Americans to join Lobby Groups that will FORCE the changes needed in this country. Sad, but true.
I don't think it's soley on Obama and the banks.
-China announced yesterday that they told their Central Bank to reign it in and not lend as much.
That also means they will buy less treasuries from us.
-The EU is having major debt problems as well.
For all the "recession is over - green shoots abound" we're not recovering; we're just not recovering.
4Q earnings are being reported as well. Profits are down for several companies; those with increase net profits are due to cost cutting - i.e. layoffs. They are not making money.
I actually think Obama has the right idea, its just that its about the only right idea he has in about a dozen bad ones. Its offset by everything else he's done wrong on the economy. The banks do need more reigning in and oversight, however he's done nada to get the unemployment and economy moving with tax decreases and his spending increases were a big waste. He's done nothing to keep China in check, done nothing to control illegal immigration, done nothing to increase oil production, and basically did nothing but mess around with health care and global warming. He also made sweetheart backroom deals with the biggest lending banks.
But we should agree not to write America off so fast. Write Obama off, certainly.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
