The US debt fiasco

[Flying Scotsman]

A Canadian perspective

http://www.theglobeandmail.com/news/opinions/opinion/debt-ceiling-chicken-and-the-end-of-empire/article2114682/

Douggie

[Flying Scotsman]

I will bump this post up as a lot of you Yanks are either mad or stupid?...PAY TAXES and no, it is not the Boston Tea Party response

Douggie

[befu]

So what are you wanting in reply? Poking the hornets nest?

It will be interesting to see how this ends. Best case I see is our currency declines at a controlled rate of 10% to 15% per year for the next 5 to 10 years. I think this may happen if Europe falls first. As bad as we are here, Europe is in more trouble. Could you imagine mass riots in China? What do you do with 2 billion upset citizens? Maybe America is the one to fall and the others survive, who knows. All I know, our politicians will not be the ones to fix it. The democrats can't tax the rich enough to pay for the bills and the republicans can't cut enough to make a spit of difference and they both just keep spending while talking. When someone brings up hating the other side, at least I know what I am dealing with, a half blind person. Both sides stink to high heaven. Sure I lean one way, but I adknowledge they are part of the problem and I realize they are not there to help me. So what to do? It is too late to fix the system and too early to shoot the bastards, so we wait.

Let them play thier game while we prepare for the outcome. Whatever happens, it will settle back down as we enter a new phase of our civilization. New political leaders will emerge and we start another phase in the game. We are broke. We are past broke. We are already monitizing our debt. That is a VERY bad sign. Never has worked before, might work longer in America due to our size, but I see the end being the same. But, we are a nation of a lot of good working people. When it hits the fan, we will pull together and a new pheonix will rise.

And when it is all said and done, there will still be an internet with Douggie poking at us, making us feel at home and the universe is back in balance! peace! Not sure what kind of response you wanted?

P.S. Any jobs up there for engineering and manufacturing? LOL!

[Flying Scotsman]

Watch the film Gods and Generals.

Douggie

[m4a1usr]

I will bump this post up as a lot of you Yanks are either mad or stupid?...PAY TAXES and no, it is not the Boston Tea Party response

Douggie

If you only knew Douggie. Most of America (70%+) is ready to toss out all the village idiots. Neither party has an excuse. Ohh,.......they make them up. Problem is any intelligent person sees clear thru their lies. The growth of the Tea Party last year will dominate politics in 2012. Yes the left has done a bang up job of vilifying the newest upstarts to the "system" but they are still out in front when it comes to new members and stirring political interest. The left is in a panick. The words promised in 2008 by the Democrats never materialized. Even the folks who just voted along "color" lines are now looking elsewhere. Empty promises heaped upon optimism. It didnt pan out. Obummer could offer a million bux to each and everyone of his followers and he couldnt get re-elected if the election was held today. He's on the Titanic, and its sinking. Time to die.

Back to the topic. The debt. Well someone knows something (or at least they have inside information from either Congress or the Whitehouse) to gamble a mear Billion bux! Whats that you say? How can this be? Well take a gander. http://etfdailynews.com/2011/07/25/i...united-states/ A person, bank or country decided to gamble against our triple a rating. Who's got that sort of information? Who's got that sort of capital? Insider information? You bet you beer stein buddy.

Our great nation is about to squeak thru a crack the politicians decided to force us thru. Our treasury bonds will be down 5 or 6 basis points even if the debt ceiling is raised by Tuesday. Thats a best condition scenario. It could very well be much worse. Next week will tell. I have taken my modest investment in government bonds out and tossed them into the open market. The safe 4 or 5% yield is not likely to continue and if your close to retirement age there is no safe harbor. No guts no glory. Lucky number seven!

John

[NativePaul]

I have a wallet full of fivers, can I buy America yet?

[befu]

Watch the film Gods and Generals.

Douggie

Saw it, will have to watch again. I do not know about that, we are not split like that now. Most do not like the national gov. What will be interesting is to see what will happen with different states as they go under. Will Texas be forced to bail out CA and IL? That might be an issue. But in general, the people from one state do not see another state as thier enemy because of an underlying issue.

We are out of money.

[LarrysDrifter]

George bush is prospering. Seems like everything went down hill after the planes hit the towers-then, little George sends troops to sandland to find osama. Soon as that happened, gas prices went up along with everything else. Then everything really fell apart. People lost jobs, companies went under. But George is sitting pretty at his ranch. Get voted in in a screwed up way(florida), send the country in a downward spiral. But, as long as he's doing good is all that matters.

[bwells]

I have a wallet full of fivers, can I buy America yet?

You will need to ask China as they own it now. Befu is spot on, we are sinking and doing it at a rapid pace that is unheard of! CUT,CAP,Balance. You do it at your house, why not the White House?

[skellyo]

I've had a few beers tonight and will make my comment accordingly...Our govt needs to pull their heads out of their asses. Everyone needs to contribute to a better society, not just those making big $. If you get a paycheck from your employer, your ass needs to pay taxes. None of this getting a refund bigger than what you contributed bs. If things are going to work here, everyone getting a paycheck needs to contribute. Hand outs have gotten out of control. I'm tired of paying extra taxes because someone wants to pop out multiple kids and collect a check from the government. I'm tired of paying extra taxes because you think a job bagging groceries is beneath you. Grow the f up and do what it takes to support yourself and your family without holding your hand out expecting $ for not working. Our past generations would be rolling in their graves if they knew how many freeloaders this current society has produced. I don't pay my taxes for some lazy ass to sit down and collect government $ for not trying. As a person, I'll help anyone I know that needs it, but damn it, you gotta at least try.

Uggg...now I need another beer.

[Flying Scotsman]

Interesting comments and yes I do not agree to people making claims for multiple kids, etc but you guys pay one of the lowest tax rates on the planet.

Douggie

[Steven Vaccaro]

I've had a few beers tonight and will make my comment accordingly...Our govt needs to pull their heads out of their asses. Everyone needs to contribute to a better society, not just those making big $. If you get a paycheck from your employer, your ass needs to pay taxes. None of this getting a refund bigger than what you contributed bs. If things are going to work here, everyone getting a paycheck needs to contribute. Hand outs have gotten out of control. I'm tired of paying extra taxes because someone wants to pop out multiple kids and collect a check from the government. I'm tired of paying extra taxes because you think a job bagging groceries is beneath you. Grow the f up and do what it takes to support yourself and your family without holding your hand out expecting $ for not working. Our past generations would be rolling in their graves if they knew how many freeloaders this current society has produced. I don't pay my taxes for some lazy ass to sit down and collect government $ for not trying. As a person, I'll help anyone I know that needs it, but damn it, you gotta at least try. Uggg...now I need another beer.

I agree. Enough is enough.

[befu]

I've had a few beers tonight and will make my comment accordingly...Our govt needs to pull their heads out of their asses. Everyone needs to contribute to a better society, not just those making big $. If you get a paycheck from your employer, your ass needs to pay taxes. None of this getting a refund bigger than what you contributed bs. If things are going to work here, everyone getting a paycheck needs to contribute. Hand outs have gotten out of control. I'm tired of paying extra taxes because someone wants to pop out multiple kids and collect a check from the government. I'm tired of paying extra taxes because you think a job bagging groceries is beneath you. Grow the f up and do what it takes to support yourself and your family without holding your hand out expecting $ for not working. Our past generations would be rolling in their graves if they knew how many freeloaders this current society has produced. I don't pay my taxes for some lazy ass to sit down and collect government $ for not trying. As a person, I'll help anyone I know that needs it, but damn it, you gotta at least try.

Uggg...now I need another beer.

I love the disclaimer at the top, had a few beers! LOL.

We need to share the burden more, I agree. When 48% of the population do not pay anything, let alone get money back that is death to a democracy. Luckily, we are a republic, but our leaders are acting like it is a democracy.

If you want tax increases, repeal the Bush tax cuts but for EVERYBODY! Since bush was bad, drop the whole thing. A person make $300,000 saved about $5k, a person making $50k saved about $2k and they say the rich got the tax cuts. Umm, 2.5 x the tax cut for 6x the income. If it is only for the rich, drop the whole bill then. I am not in that rich crowd, but if you try to take it all from the rich, they will take thier jobs and money and go play somewhere else.

Remember what I said about people that are half blind? yep, lets just blame it on one political party or one political leader. Just because they stunk, doesn't give everyone else a free ride. The three branches work together, and together they are destroying us. both sides. 90%+ of them. Open the other eye and look. otherwise people are waking up and will realize who you are. A talking head for the right or left. We have problems. Big problems and they are the result of both political parties. Remain blind if you want, I am watching with both eyes. good luck, this thread ought to get interesting! LOL!

Brian

[Jedi Master]

I've had a few beers tonight and will make my comment accordingly...Our govt needs to pull their heads out of their asses. Everyone needs to contribute to a better society, not just those making big $. If you get a paycheck from your employer, your ass needs to pay taxes. None of this getting a refund bigger than what you contributed bs. If things are going to work here, everyone getting a paycheck needs to contribute. Hand outs have gotten out of control. I'm tired of paying extra taxes because someone wants to pop out multiple kids and collect a check from the government. I'm tired of paying extra taxes because you think a job bagging groceries is beneath you. Grow the f up and do what it takes to support yourself and your family without holding your hand out expecting $ for not working. Our past generations would be rolling in their graves if they knew how many freeloaders this current society has produced. I don't pay my taxes for some lazy ass to sit down and collect government $ for not trying. As a person, I'll help anyone I know that needs it, but damn it, you gotta at least try.

Uggg...now I need another beer.

We're the same in the UK, and it kills me to see us suffering it. Too many people trying to justify their excuses for living off everyone elses hard work. Lazyness is not specific to particular country, but all politicians and governments should take the same line; Stop paying tax-payers 'hard earned' money to the free-loaders!!!!

[murphy3428]

I think its time for all the middle class people to come together and take matters into there own hands these politicians need a time out! Treat them like the infants they are acting like and go on "strike" show them we are tired of footing the bill..... Its time we get some real people running the country no more lawyers, no more wealthy businessman these types of people will never be for the people they dont like to share.