USA Politics Thread - *No gun debate*

[walker 0]

Hi RalphWiggum

I said Property Bubble, in other words not just property.

The Property Bubble included all the financial methods by which the property market was pumped up:

• Real Estate speculation
  
• Condominium Projects
  
• Holiday home projects
  
• Mortgage Companies
  
• Mortgage Backed Securities
  
• Credit Default Swaps
  
• etc.
  

All of which the Bush Welfare for the Wealthy benefits, like any other Government subsidy, contributed to creating and expanding the bubble until, naturally it popped; leaving America in the hole that the Bush Administration and Welfare Queens of Wall Street left America in.

Now it seems the investment banks like Goldman Sachs have already secretly reduced US Debt to Junk and are quietly dumping US Treasuries and hoping no one else will notice while they still have some yet to sell.

http://www.ft.com/cms/s/0/0f1cb8b8-b968-11e0-89ee-00144feabdc0.html#axzz1TSB96Y1e

http://www.cbc.ca/news/business/story/2011/07/27/world-markets.html?ref=rss

China started selling off its US debt in February.

http://theglobalrealm.com/2010/02/17/china-in-record-us-debt-sell-off/

With the Republican congress set to cause a Credit Ratings Downgrade for the US and a second US recession. Americans Tax payers need to brace them selves for millions more foreclosures and Car repossessions as US interest rates will go through the roof.

The other major problems are the massive increase in Taxation that will be caused by the Republican Congress as all US debt interest rates will go through the roof as lenders tack on the cost of insurance against bad US debt.

The most important problem though will be the loss of Seigniorage income from being the world reserve currency and the US Petrodollar status. This will knock around 5% off the US GDP almost instantly and causing a double digit increase in the US tax rate all though massive cuts in US military could reduce this.

Kind Regards walker

Edited July 29, 2011 by walker

[ralphwiggum 6]

Hi RalphWiggum

I said Property Bubble, in other words not just property.

The Property Bubble included all the financial methods by which the property market was pumped up:

• Real Estate speculation
  
• Condominium Projects
  
• Holiday home projects
  
• Mortgage Companies
  
• Mortgage Backed Securities
  
• Credit Default Swaps
  
• etc.
  

All of which the Bush Welfare for the Wealthy benefits, like any other Government subsidy, contributed to creating and expanding the bubble until, naturally it popped; leaving America in the hole that the Bush Administration and Welfare Queens of Wall Street left America in.

It doesn't take a sinister mind to pull that off. There was a housing boom that triggered massive influx of investment in housing market, and there were buyers who took the risk(whether they understood it ornot) of buying a home. It wasn't just conservatives who pushed for it either.

Now it seems the investment banks like Goldman Sachs have already secretly reduced US Debt to Junk and are quietly dumping US Treasuries and hoping no one else will notice while they still have some yet to sell.

http://www.ft.com/cms/s/0/0f1cb8b8-b968-11e0-89ee-00144feabdc0.html#axzz1TSB96Y1e

http://www.cbc.ca/news/business/story/2011/07/27/world-markets.html?ref=rss

China started selling off its US debt in February.

http://theglobalrealm.com/2010/02/17/china-in-record-us-debt-sell-off/

With the Republican congress set to cause a Credit Ratings Downgrade for the US and a second US recession. Americans Tax payers need to brace them selves for millions more foreclosures and Car repossessions as US interest rates will go through the roof.

The downgrade, if it happens, is not some conspiracy. If you can't pay bills, your credit suffers. As for China selling bonds, your link from theglobalrealm is from 2010. It is grossly outdated, and you are not being totally honest here.

Here's link to Treasury.gov

http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/mfh.txt

It shows that as of May 2011, China holds 1.159 trillion USD worth of bonds. It went slightly under in March, but it increased its share since then.

The interest rate will not go through roof even if 8/2 deadline is not met. Remember that back in 70s, the inflation was in double digits and currently we are in low single digits. It will be awhile before US goes to that level.

The other major problems are the massive increase in Taxation that will be caused by the Republican Congress as all US debt interest rates will go through the roof as lenders tack on the cost of insurance against bad US debt.

The most important problem though will be the loss of Seigniorage income from being the world reserve currency and the US Petrodollar status. This will knock around 5% off the US GDP almost instantly and causing a double digit increase in the US tax rate all though massive cuts in US military could reduce this.

Kind Regards walker

The ones calling for taxes is Democrats not Republicans. Neither side is entirely correct on their solution, as it probably would require raising the limit and increase in tax as well as cutting government expenditures.

While there has been numerous doomsday scenarios floating around since 2007 or so, none of it has happened, and even if it does, it is not going to be as drastic as some think. For example, knocking 5% off US GDP will definitely hurt, but the impact will soften out due to global economy being so interconnected.

[Nicholas 5]

Obama announces deal reached to end debt crisis

[st_dux 26]

Oh yeah, our debt crisis is totally over now. More debt is just what we needed to start getting out of debt.

[GRS 10]

Well duh, spending is the best way to save, didn't you know?

[walker 0]

Hi RalphWiggum

I did not say or indeed infer it was sinsister. I do say it was a stupid policy, based on lack of basic knowledge of economics. When you get into political power you control some of the levers that alter how the economy works, that is what democracies vote to decide when they choose the people who will exercize that power.

Yes Democracies decide who will be their chief accountants, lawyers, police and army generals based on a popularity contest.

If you want to look at the roots of the US Defecit then you need to be aware of an alcohol fueled lunch where US Economics were worked out on a Napkin based on a falicy called The Laffer Curve.

http://pieceofmind.wordpress.com/2011/04/08/napkin-economics/

On the matter of what US debt is and its different types I refer you to a previous post

http://forums.bistudio.com/showpost.php?p=1992076&postcount=4293

China has been adjusting and deleveraging its holdings in US Debt since 2010 as has everyone else.

http://abnormalecon.blogspot.com/2011/06/us-debt-deleveraging-will-last-until.html

The hope is that President Obama can force the Republican House Speaker John Boehner to see sense and whip his Tea Party members in to line and accept the Democratic Senate's plan.

Kind Regards walker

Edited August 1, 2011 by walker

[solidsnake2384 10]

I read something on how Congress can pay off the debt by using these platinum coins. What they do is make the value of the coin a trillion dollars or something like that and after it goes through this whole process of things that I forgot about itll pay off the debt when its in the system.

[walker 0]

Hi solidsnake2384

I know a guy with some snake oil he says cures aids and typhus also is good for rheumatism and cleaning the dishes and colds, only 200 US dollars a bottle, please send all your Credit card details to them they will probably email you from Nigeria and please remember to assign your house and all other property to the same guy to ensure prompt delivery and a FREE! Gift...

Or to put it another way. There ain't no such thing as a free lunch.

But hey Cheney, Bush and Rumsfeld fell for it, but having realized, they then left the US Tax Payer with the Bill.

Kind Regards walker

Edited August 1, 2011 by walker

[GRS 10]

I know some people like their side a lot and hate the other but this is outright ridiculous.

[dmarkwick 261]

Apple now has more cash than the USA.

[ralphwiggum 6]

Hi RalphWiggum

I did not say or indeed infer it was sinsister. I do say it was a stupid policy, based on lack of basic knowledge of economics. When you get into political power you control some of the levers that alter how the economy works, that is what democracies vote to decide when they choose the people who will exercize that power.

Yes Democracies decide who will be their chief accountants, lawyers, police and army generals based on a popularity contest.

Given that you talk a lot about how Republicans are out to screw a lot of things up and your general disdain for them, I think it goes without saying that you probably consider it sinister. As I previously mentioned, housing crisis is not just by GOP or Dems, but a combination of both.

If you want to look at the roots of the US Defecit then you need to be aware of an alcohol fueled lunch where US Economics were worked out on a Napkin based on a falicy called The Laffer Curve.

http://pieceofmind.wordpress.com/2011/04/08/napkin-economics/

If you want to critique a theory, you do it by logic, not by some unrelated items like where it was written. Laffer Curve has plenty of criticisms, but trying to refute it by using the instrument it was written upon is even more illogical

On the matter of what US debt is and its different types I refer you to a previous post

http://forums.bistudio.com/showpost.php?p=1992076&postcount=4293

And this has very little to do with what I pointed out, which is that your argument that China's been selling US Treasury holdings, to which I replied with data from US Treasury itself. YOU did not read what the article says since it has Treasury HOLDINGS in their own report.

China has been adjusting and deleveraging its holdings in US Debt since 2010 as has everyone else.

http://abnormalecon.blogspot.com/2011/06/us-debt-deleveraging-will-last-until.html

I don't know if you are aware it of not, but the graph that you linked is about US home mortgage debt, which is not equal to US national debt. If you are going to make a case, at least put some relevant information.

[KEVINMGXP 20]

I know some people like their side a lot and hate the other but this is outright ridiculous.

Politicaly it is been that way since if i recal it correct 1980's its also better known as the culture wars. The term frequently implies a conflict between the values of the considered traditionalist or conservative and those considered progressive or liberal.

But its nothing worse or better then in my country tbh politics sucks globaly these days ...

kind regards

[serfinaR 10]

If this thread will be talking everything about Government then I would like to ask if you know now that we are suffering from foreclosure crisis? :j:

The foreclosure dilemma has had a wide variety of long-lasting consequences. In the wake of property owners losing their properties, the rental industry has become flooded with prospective renters. The government presently owns about 250,000 empty, foreclosed-on homes. To be able to stabilize prices, the government is asking for suggestions on renting out those properties. Article resource: US Government considering renting out foreclosed homes

[BronzeEagle 2]

In american culture particularly this new wave of thinking is in absolute terms, and i hate to quote star wars but only a sith thinks in absolute. Not to hate on american culture but on the ideology of wolves and sheep. It ain't all wolves and sheep, its those who know and don't tell, those who tell and you won't believe, and those who don't know.

[Hans Ludwig 0]

xoqY6CpgpSE

[Scrub 0]

_MGT_cSi7Rs

Just cause people are casting disparate accusations and possible reasons for the USAs housing collapse, here is another to toss on the pyre.

[b101_uk 10]

It is certainly true that Clinton had the U.S. deficit well in hand before Bush came along.

However, defecit under Obama has lept by an order of magnitude that makes the leap from Clinton Administration to Bush Administration look positively mundane.

Just as Bush was in a league of his own.... Obama now is.

This is the sort of graph of it you can expect to find in the British financial media.

This one is a little more Bush Jnr friendly.

Usually I expect to see his defecit come in at larger than his fathers. But it rather nicely displays the presidents by name, which I think is quite pictorially helpful.

This one is CNN's.

Here is one that is uptodate with 2010's figures and has an estimate of 2011's.

This last one is what I would expect to see, Bush Jnr's years, looking like 50% higher defecit than any who came before him. Clinton having made it into Credit...and then a massive sky rocketing of defecit under Obama that makes Bush pale into insignificance.

Broadly speaking they all make an enormous leap in the Obama administration.

He has had a few of really big spending sprees' I would guess.

A surge n Afghanistan, a war in Libya.

Fiscal stimulous and medicare.

True, but you are failing to consider all the implications put in place by the Bush Administration which the Obama Administration merely inherit, thus are nothing actually to do with the Obama Administration with regards to actual deficit, if you look at the final Bush year there is a big jump upwards vs. the prior 4 years which WILL overspill into the Obama Administrations tenure. ;)

Also the Obama Administration is naturally in a situation of cleaning up the messes of the Bush Administration which ALL cost money and are in a position of having to make tough decisions that WONT be liked BUT have to be done, much like in the UK with the conservative coalition putting right the mismanagement an philandering of the prior government.

[Hans Ludwig 0]

True, but you are failing to consider all the implications put in place by the Bush Administration which the Obama Administration merely inherit,

Those implications would be?

[nettrucker 142]

This film below had me thinking for a lot of time.

3RcbpYR5Joc

It is really sad what's happening in the USA . . . I don't envy you Americans. The USA is in a very difficult position and I don't foresee anything good for the future. The only politician who is fighting to get the USA back to their constitutional rights is Ron Paul from what I see. He clearly promote what has to be done, to get the situation straight.

Shocking to me was the declaration of Greenspan that the Federal Reserve has powers beyond the powers of the congress. There has never been an audit in 90 years of existence.

In any case, sadly it is not only regarding the USA but here in Europe we are facing the same problems. The EU is broke Germany is barely standing on their feet. France is incertain . . . all the others are broke or close to bankruptcy. WTF. Globalization is digging our graves. It will come worse because we are mostly asleep to what is happening around the world. I'm gathering info since 2001 and I am by no means a conspiracy theorist. But there is evidence all around the net to get a pretty clear picture and I believe I haven't even scratched the surface of what is going to happen around. I informed myself about the power structure around in the world about their history. Watch the money masters

JXt1cayx0hs

This is something about the history and how everything evolved.

regards

Edited September 3, 2011 by nettrucker

[froggyluv 2133]

Sarah Palin's address was NOT shown on FOX but was on CNN just now....this must be Anything Can Happen Day.

..or FOX is done with her. Damn liberal media ;)

[HyperU2 11]

Dems yammering is the only time I hear Palins name. They must be as misogynistic as I am "racist".

[froggyluv 2133]

Nah, they love Hillary. Must be an intelligence issue.

[Hans Ludwig 0]

Nah, they love Hillary. Must be an intelligence issue.

Well clearly Hillary knows zero about economics.

[*LK1* 10]

unlike sara palins.

[froggyluv 2133]

Conservatives that defend Sarah Palin's intelligence only weaken their position as she's clearly a pop-cult conservative with little understanding of whats she's reading off her scripts.

Now take a Ron Paul, I may not gree with everything he says, but he makes solid points backed with actual data and has a firm grasp over what he speaks.

Palin-heads are only ideologues making true on Reagans statement "No Republican shall speak ill of another Republican". I find that statement utterly un-american as anyone should speak bad of any other's bad ideas regardless of party for the good of the country.

Moderates are losing ground...