the tide is changing, mccain is endorsed by...

[Jon Miller]

So why do people refuse to recognize the need to raise taxes?

JM

[HalfLotus]

Originally posted by Jon Miller
So why do people refuse to recognize the need to raise taxes?

JM

Probably because they'd rather handle their own finances rather than trust their money to a corrupt and bankrupt government?

[Ramo]

Originally posted by HalfLotus


Yeah the government is doing a bangup job investing it. $10 trillion federal debt - good job. And on the order of $50-60 trillion when you include social security, medicare, et al.

The Fed's have the "luxury" of borrowing billions from China and Japan. So we get to pay interest on that borrowed money, or we can just have the Fed monetize more debt, or fire up the printing press, inflate the currency, and make us all poorer.

Which part of "The United States is bankrupt." are people not getting?

The government doesn't HAVE any money to give out via Social Security or any other program. They have taken all of your tax money and pissed it into a black of hole of debt.

We gotta pay the piper some day. The dollar will be abandoned as the world's reserve currency, no one will lend us money because have nothing of value, and then we will be in a world of ****.

1. Social security generates a considerable surplus, and will continue doing so for some time.
2. The interest rate that we pay on the national debt is extremely low, and as a percentage of our GDP our debt is relatively moderate by historical standards. All we need to take care of that that is a small tax increase.
3. No one's going to abandon the dollar any time soon. Have you been paying attention to world markets?

[Jon Miller]

Originally posted by HalfLotus


Probably because they'd rather handle their own finances rather than trust their money to a corrupt and bankrupt government?

The debt is almost entirely the fault of the following presidents:

Reagan
Bush 1
Bush 2

All these presidents focused on lowering taxes, or keeping them the same when we were on 'war' footing.

Obviously the fault isn't of paying too much in services and the like, rather the fault is that the republicans have been corrupt and the republicans 'cut tax' strategy has bankrupt the nation.

JM

[Dinner]

Originally posted by Ramo


1. Social security generates a considerable surplus, and will continue doing so for some time.
2. The interest rate that we pay on the national debt is extremely low, and as a percentage of our GDP our debt is relatively moderate by historical standards. All we need to take care of that that is a small tax increase.
3. No one's going to abandon the dollar any time soon. Have you been paying attention to world markets?

1. Social security can continue on until at least 2048 with absolutely no changes what so ever before running out of money. A few small changes could make it good forever such as raising the retirement age to 68 from 62, end the loop hole which allows wealthy people to get out of paying most of their social security taxes, or just allowing increased immigration.

2. US GDP is about $14 trillion with a national debt of $10 trillion. That's about 70% of GDP. Bush has doubled our national debt so our debt situation went from not to bad to really bad during his presidency.

3. The dollar looks good right now mainly because everyone else looks worse but the US hasn't seriously kept a strong dollar policy since Bush took office. Other wise we'd be trying to actually balance our budget.

[Whoha]

Originally posted by Jon Miller


The debt is almost entirely the fault of the following presidents:

Reagan
Bush 1
Bush 2

All these presidents focused on lowering taxes, or keeping them the same when we were on 'war' footing.

Obviously the fault isn't of paying too much in services and the like, rather the fault is that the republicans have been corrupt and the republicans 'cut tax' strategy has bankrupt the nation.

JM

They clearly should have just monetized debt, then we wouldn't have any problems, and there'd be candy canes raining from the sky. Also pies.

[HalfLotus]

I follow world currency markets closely, and I'm hearing a lot global financial leaders who are not at all pleased with the Fed's handling of the Dollar.

Specifically the European communities which are calling for 'global economic solutions' (i.e. move over Fed, the EU is taking charge here) as well as several OPEC nations and Russia have been calling for the abandoning of the Dollar as the 'peg' for crude oil. This would surely cause the value of the Dollar to drop significantly.

[Dinner]

Oh, BTW did anyone mention that Joe the Plumber is a tax cheat who owes back taxes?

[HalfLotus]

If he prevented the government from stealing his money, I say good for him.

[The Emperor Fabulous]

Joe the Liar called out by...FOX NEWS' SHEP SMITH...regarding Joe's belief that Obama will cause the destruction of Israel.

Which led some at Free Republic to say that Shep Smith is "in the bag for Obama". Right.

[Ramo]

Specifically the European communities which are calling for 'global economic solutions' (i.e. move over Fed, the EU is taking charge here) as well as several OPEC nations and Russia have been calling for the abandoning of the Dollar as the 'peg' for crude oil. This would surely cause the value of the Dollar to drop significantly.

The USD/Euro exchange rate:


USD/Ruble:

[Ramo]

That's about 70% of GDP. Bush has doubled our national debt so our debt situation went from not to bad to really bad during his presidency.

But it wasn't doubled as a percentage of the GDP. We're not bankrupt. If we get back to roughly the tax rates that we had in the 90's and make the right investments in energy and infrastructure and health care (which will require more deficit spending in the short term), we'll be fine.

[HalfLotus]

Originally posted by Ramo
The USD/Euro exchange rate:


USD/Ruble:

Exchange rates, great.

Soooo, again why are so many international leaders bashing the Dollar and the Fed in public statements? I have seen no less than a dozen direct quotes and YouTube videos of international leaders calling for a change in international monetary policy. Fearmongering? Saber-rattling? Political maneuvering vis-a-vis the U.S financial establishment?

There must be some explanation. My view is that the Bretton Woods Dollar system is coming to an end, and political rhetoric from Europe, Asia, and the Mideast certainly points in that direction.

[Wernazuma III]

Originally posted by HalfLotus


Yeah the government is doing a bangup job investing it. $10 trillion federal debt - good job. And on the order of $50-60 trillion when you include social security, medicare, et al.

The Fed's have the "luxury" of borrowing billions from China and Japan. So we get to pay interest on that borrowed money, or we can just have the Fed monetize more debt, or fire up the printing press, inflate the currency, and make us all poorer.

Which part of "The United States is bankrupt." are people not getting?

The government doesn't HAVE any money to give out via Social Security or any other program. They have taken all of your tax money and pissed it into a black of hole of debt.

We gotta pay the piper some day. The dollar will be abandoned as the world's reserve currency, no one will lend us money because have nothing of value, and then we will be in a world of ****.

Well, then, how about cutting your obscene military spendings?

[HalfLotus]

Originally posted by Wernazuma III


Well, then, how about cutting your obscene military spendings?

I couldn't agree more!