Is It Time to Bail Out of the US?

[jedard]

You folks are not telling me anything.

 

[jedard]

Yes, Jedard, but you seem to forget the we also read & have sources of information, many of them. Let's not forget that it's copyright infringement to post other people's articles with out permission.

And where did you get your legal degree? And what makes you think I do not have permission from those I subscribe to.
Nope, you can't scare this Canuck. In fact you could live for another 50 years and still could not win on this forum.
What I provide here is for those who do not have access or choose not to search everyday for news, be it right or wrong.
You just keep preaching boy.

 

[mini]

You folks are not telling me anything.

You just keep preaching boy.

You should read your own posts.

And where did you get your legal degree? And what makes you think I do not have permission from those I subscribe to.
Nope, you can't scare this Canuck. In fact you could live for another 50 years and still could not win on this forum.
What I provide here is for those who do not have access or choose not to search everyday for news, be it right or wrong.
You just keep preaching boy.

I got my law degree from LSE.

I'm not trying to "scare you". Personally, I think it's just rude. If you have something to say, please say it. I'd like to hear what you think about what you read, not just get the text copy/pasted in this forum.

 

[bigbadwolf]

I think the "stimulus package(s)" will have a negative and perhaps disastrous effect on the US economy, and I also believe that a depression is possible. Food production in the US probably won't be seriously affected, but the Prez and his cronies may have to ration food along with health care. It would be hog heaven for those control freak-power mongers. Martial law would surely be imposed if those who cannot buy food begin to riot.

The dollar could indeed become worthless (it will certainly be worth less in the future).

Perhaps owning some gold coins that one might be able to trade for food would be a good idea when things get really bad, but I seriously doubt that anyone will trade a loaf of bread and a chorizo for gold stocks, funds, or shares in a mine. Investing in a weapon for self defense would be in order, too, as those with the guns may eventually be the ones with the food...and probably the gold as well...unless the National Guard can stop them.

Steve, I mostly agree with what you've written but want to point out the US is in a depression now. "Recession" has become a euphemism.

 

[RWS]

[Double-posted.]

 

[RWS]

Ah, BigBad, you're right, of course; but changes instituted under Bill Clinton's presidency for measuring unemployment and consumption (among other indicators) mask the degree of economic displacement quite well: so any politician who chooses to may still call this "a recession" with an appearance of accuracy.

 

[steveinbsas]

Steve, I mostly agree with what you've written but want to point out the US is in a depression now. "Recession" has become a euphemism.

The greatest distinction between a recession and a depression is that using the word depression "justifies" the actions of congress, borrowing and spending trillions of dollars, claiming that will prevent a deeper depression than the one we "already" have, creating or saving three million jobs....even though they don't really care about any of that...in the first place.

They already know the "recovery act" will probably make matters worse, giving them the chance to seize more power and assume even greater control over the actions of private business and lives of individual citizens, introducing even more drastic measures to correct the "evils" of the free market or so called "disaster" capitalism.

I seriously doubt the Democrats are finished, no matter which way the economy goes from here. There is a never ending supply of social/government programs that they sincerely believe in and want to implement, whether they work or not and whether or not the funds exist to pay for them. Most of them don't even know what they're voting on in the current economic "recovery" act (aka stimulus package).

It's in their blood. Its what they have to do. When GWB was still the president, Nancy Pelosi spoke of the "opportunity cost" of the war in Iraq. Now she and her cronies are going to spend far more to do what's right for the people. (After all, they know what's good for us, even if we don't.)

This is truly wonderful if you believe that the primary purpose of government is "helping" those in need. But the more that government is "willing" to help, the greater will be the "needs" of the people (too many suckling piglets).

Just listen to the people begging President Obama for kitchens, bathrooms, and unemployment benefits equal to their former wages (among other needs) at town hall meetings.

That's the future of America...a nation of beggars...hoping the government will "take care" of them, or, as in the case of those greedy and (unfortunately) apologetic corporate executives, allow them to exist (with "appropriate" restrictions on salaries, bonuses, and perks, of course).

Are the "people" going to revolt when the government is unable to meet their needs and the private business sector (as a result of increasing and crippling government regulations and taxes) "fails" them as well?

If so, I wonder what kind of political and economic system will prevail in the aftermath.

I hope it's one where the government does what is best for everyone:

Just leave them alone.

Not likely, is it?

 

[steveinbsas]

You folks are not telling me anything.

How could we?

You already know it all.

Nope, you can't scare this Canuck. In fact you could live for another 50 years and still could not win on this forum.

What do you expect to win on this forum? The hearts and minds of those you insult?

What other prize is there?

What I provide here is for those who do not have access or choose not to search everyday for news, be it right or wrong.

Wow! I wonder how many BAexpats actually do rely on you for this service and if they care if the information is right or wrong.

You just keep preaching boy.

If you actually were a real BAexpat you might also know that mini is not a boy.

...I hate typing...

Was it your hatred of typing that hampered your education (ability to think or express yourself logically)?

Perhaps it was the opposite.

 

[Moxon]

What I provide here is for those who do not have access or choose not to search everyday for news, be it right or wrong.

I'm straining to hear the effusive cries of gratitude ringing around Buenos Aires for this service you provide. Why don't you start a blog if you want to intersperse cutting and pasting with rampant abuse of the English language?

 

[steveinbsas]

I seriously doubt the Democrats are finished, no matter which way the economy goes from here. There is a never ending supply of social/government programs that they sincerely believe in and want to implement, whether they work or not and whether or not the funds exist to pay for them.

Quoting Congresswoman Barbara Lee:

"I applaud President Obama, Speaker Pelosi, the leadership, and Chairman Obey for crafting this robust economic stimulus package. I'm pleased that it includes funding for a number of important initiatives that I fought for, including extending unemployment benefits, expanding the food stamp program, and providing increased Medicaid funding to states.

"It puts our nation on the path to recovery by including $4 billion in job training programs, including $500 million for green jobs and $1.2 billion for youth training programs. It funds a range of transportation and infrastructure projects to rebuild our roads, modernize our schools, rehabilitate our housing stock and prevent foreclosures. It is truly a sizable commitment to putting our nation back on the right track.

"Given the magnitude of the economic crisis, this bill could and should be much bigger – over $1 trillion at least. And I believe it should have been enacted a year ago when my colleagues and I in the Progressive Caucus first called for a new stimulus package to jumpstart our economy. Instead the previous Administration refused to take action, letting our economy collapse before choosing to bailout their friends in the banking industry.

"By itself, this bill cannot end the economic crisis we are currently facing, but it's a good start."

The last three words say it all.

But here's the link for her complete statement:

http://pdamerica.org/articles/alliances/2009-01-29-08-31-22-alliances.php