USA crisis.

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I have a few folding Dollars and some change left over from a trip.

Will it help if I send to BHO?

No...as they are asking in the US...can you visualise $1Tn ?
 
what I'm really saying is we've got enough going on in our own country why would we want to know about USA ?

Because it will greatly affect the goings on in our own one.

Sorry, this is major news.

More so than dear dead Winehouse, this has the potential to put us up the **** creak without a paddle. Yet this thread has attracted less attention than the dead junkie one, sad times.....

How many of us have pensions/investments linked to the USA. Most of us....
 
Hadn't George W Bush bankrupted every Company he had been the President of?

Now after two terms he can proudly add the whole of America to his track record. Well done George, but the overriding question in my mind is how on God's earth did America see fit to give him two terms, let alone one??

When Apple has more disposable cash than the US Government you know the free enterprise model has failed dismally - "Now watch this drive"
 
Now after two terms he can proudly add the whole of America to his track record. Well done George, but the overriding question in my mind is how on God's earth did America see fit to give him two terms, let alone one??

Similar to here, the populace felt good because the Govt were spending money. Most people aren't very bright when it comes to Govt spending.
 
On spending money, it's very simple. Don't spend it if you haven't got it. There are only two exceptions,

Borrow money only for those things that will increase in value more than the cost of borrowing, i.e. a genuine return on the borrowed money - for the borrower that is. I guess they thought they'd have the whole of the Iraqi oil/gas reserve, and a look in on Iran's - so it might have been justifiable. But never mind, Donald went on to prove on a smaller scale his thinking was correct; bird flu, swine flu etc - a brilliant man indeed, but completely useless if you want true growth.

The second reason is if you borrow knowing fully it's going to cost you a fortune for the thing you're borrowing for, and you are happy (and can afford) to loose the money pretty much entirely, ie borrowing when you really don't need to, but decide to anyway. Holiday's, fancy cars, new carpet, flash clothes, credit cards etc.


You have to live with your means IMHO. I have only ever had one loan at a time, and that included my mortgage. Everything else comes from cash. If I haven't got it I don't buy it.

Since 2008 I've done alright out of this crisis, the NZD alone has doubled in less than three years. If America can get back into gear in the next three years even by a little bit, I'll have another bite of them. In the meantime who thinks there's serious money to be made knowing that when a deal is finally done the USD will recover maybe 5% within a week or two?? Look at the recovery in currency when Greece signed up to austerity packages. Tell me this is not the true motivation for the "current crisis", apart from trying to make Obama look like he's not knowing what he's doing.........
 
The Tea party is run by a fundamentalist collection of nut jobs whose fears are re-enforced daily by that ever reliable view of the world provided by Fox News. Owned by one Rupert Mur**** -------- Now where have I heard that name before.:rolleyes:
 
Just read it again....

So the piece is just an Obama fan blaming the 'tea party' for not compromising with the Democrats by allowing Obama to keep increasing the debt ceiling (already done ten times in ten years apparently) without reducing spending or putting up taxes to pay for the borrowing, and this debt already exceeds $14 trillion....?

Unsustainable debt levels or fiscal responsibility then? Or do we think the US should keep printing money until they are completely out of debt?:crazy:

I wish I was an economist....
 
I think the best analogy is to think of stopping a set of gears turning so fast . Obama is trying to gently apply the brakes. The tea party's idea is to stick a giant spanner in the works and bring it all to a grinding halt. The mechanical and economical results of such action would be similar.
 
Just read it again....

So the piece is just an Obama fan blaming the 'tea party' for not compromising with the Democrats by allowing Obama to keep increasing the debt ceiling (already done ten times in ten years apparently) without reducing spending or putting up taxes to pay for the borrowing, and this debt already exceeds $14 trillion....?

Unsustainable debt levels or fiscal responsibility then? Or do we think the US should keep printing money until they are completely out of debt?:crazy:

I wish I was an economist....

You have got it fundamentally wrong, it's not Obama that will not cut spending, or put up taxes.

The Tea Party will not countenance tax rises. There was deal to cut spending and increase taxes, but they will not support it. This is only one of many telling it the way it is.

Do you really believe right wing nut jobs like Sarah Palin, Michele Bachmann and the rest know even a little of what they are talking about??
 
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You have got it fundamentally wrong, it's not Obama that will not cut spending, or put up taxes.

The Tea Party will not countenance tax rises. There was deal to cut spending and increase taxes, but they will not support it. This is only one of many telling it the way it is.

Do you really believe right wing nut jobs like Sarah Palin, Michele Bachmann and the rest know even a little of what they are talking about??

It's easy for us to see it from our point of view, but let's not forget that America is/was built on greed and looking after number 1.

I'd always seen the U.S. as some perfect Hollywood film set until I saw the whole healthcare bill arguments, noticeably on the U.S. special of question time. It certainly opened my eyes to the vitriol that is poured on anyone showing any kind of social responsibility.
 
^ Correct. The Tea Party was formed at a time when Obama was trying to reform the health care system. To us its a no brainer...to them ??? The haters actually hold up the NHS as a reason not to do it...go figure.
 
You have got it fundamentally wrong, it's not Obama that will not cut spending, or put up taxes.

The Tea Party will not countenance tax rises. There was deal to cut spending and increase taxes, but they will not support it. This is only one of many telling it the way it is.

Do you really believe right wing nut jobs like Sarah Palin, Michele Bachmann and the rest know even a little of what they are talking about??

It looks to me like Obama wants to put up taxes more than he wants to cut spending though, the 'tea party' - which isn't a party it's a faction mainly within the Republican party, wants no tax increases, meanwhile the Republican and Democrat leaderships are discussing a compromise deal behind closed doors.....

Point is, the original cut and paste appears to be partial and one-sided, I don't read 'Der Spiegel', but despite it's reputation for 'factual accuracy' they are obviously not above putting opinion pieces in their news section.

Just saying;)
 
Der Spiegel is the German equivalent of the Guardian or the Indie - left of centre, believes itself to be part of the worldwide progressive movement and pretty unlikely to write a piece in praise of ideological opponents. Like far too many newspapers of both right and left it is inclined merely to act as a mirror of the prejudices of its readership, correctly named in this case.

A far more sensible piece here in the Guardian comments pages - neither Republican nor Democrats in Washington are in any way reflective of the significant minority of US opinion, both parties having been captured to a certain extent by activists, as re-districting has largely neutered the swing/independent voter.
 
I think the best analogy is to think of stopping a set of gears turning so fast . Obama is trying to gently apply the brakes. The tea party's idea is to stick a giant spanner in the works and bring it all to a grinding halt. The mechanical and economical results of such action would be similar.

True, but the proper action in this case depends on how you perceive the situation to be... when a train driver heading towards a level crossing sees a car stuck on the tracks, he would rightly opt for the 'spanner-in-the-works' method... while a bus driver seeing a passenger waving at a bus stop ahead will rightly slow down gradually.

The Tea Party politicians are not necessarily suicidal. They believe the US is heading for a disaster and hard lending is better than a crash. I am not saying they are right, and yes they are also politically motivated - like the democrats - but my point is that the article in the OP is very clearly biased and opinionated (as CM said) - nothing wrong with that, as long as we all keep in mind that it is one man's opinion.
 
On another note... the journalist is being very romantic when he describes the founding father of the United States... but it is only natural to perceive past figures as great men and current leaders as petty politicians. This is a bit too idealistic for me - yes great men (and women) have lived before, but ultimately with historic perspective we will come to think the same about our current leaders (some of them, anyway). Wisdom has not passed away from this world with the 19th century.
 
On another note... the journalist is being very romantic when he describes the founding father of the United States... but it is only natural to perceive past figures as great men and current leaders as petty politicians. This is a bit too idealistic for me - yes great men (and women) have lived before, but ultimately with historic perspective we will come to think the same about our current leaders (some of them, anyway). Wisdom has not passed away from this world with the 19th century.

Strange indeed. This is not the only article I have read referring back to the Founding Fathers...it is a bit of a theme with American commentators.
 

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