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Discussion in 'Politics, Religion, Social Issues' started by yg17, Sep 11, 2006.
....we're ****in poor!
Yikes, that's pretty bad! i think we have to cut up Bush's credit cards until he pays off his debt.
Means nothing. If we had to we could just take over the world. Balances void.
Which fantasy world do you live in?
I thought our deficit was common knowledge?
I was joking. Even though its true.
Not quite. Only 95% of us are poor. 5% are doing just fine. They live like an aristocracy on the labors of the many.
It is really very simple. The republicans cut taxes, then spend trillions on pork-barrel programs for their friends. However, they do not have the money to pay for them. So, they just run up a huge debt. They do not mind. They are not going to pay for it. In fact, they are the ones collecting the interest on it. That is Reganomics. It is a great deal if you are one of the 5%.
Fact: At one point when I was in college, 70% of the total US wealth was owned by less than 1% of the people. I suspect that today's percentage is even more appalling.
Well, yeah, I know it's common knowledge. I didn't expect us to be dead last, poorer than 149 other nations.
While this is certainly a gigantic problem, it doesn't really mean we're poor. We have more assets than any other country, as well as having greater debt of all kinds.
Hmmm, the current account deficit is a reflection of how much more the US buys from the rest of the world than it sells to them. In other words, how much we owe.
The problem of course lies with companies in China or other creditor nations, wanting to buy American companies, Lenovo, Union 76, the ports deal, etc. The US is more than willing through its non-democratic and non-transparent organs like the IMF or World Bank to force other countries to sell off their assets, but when other countries come to the US looking to buy, all of a sudden the US says hands off, it's a matter of national security, protecting the "homeland" (whatever that means), etc, etc.
The truth is, we've sold ourselves to the lowest possible bidder. Japan has recently begun to divest itself of US securities and China and the oil exporting countries have literally tons of excess dollars lying around. If China can't buy in the US, it'll start buying in places like India or Zimbabwe, which it already has. China's dismal record over human rights means that Zimbabwe will be able to thumb its nose at the US and the UN and continue on its path of corruption, nepotism and the suppression of human rights.
The reality is, unless the US begins to manufacture more of what it buys, there's no long term solution to the problem. walmart is simply too powerful and has too much support amongst the Americans it harms the most and those who write the laws....
We need to buy some of those conservatives some dictionaries so they can look up the meaning of the word conservative.
Er, I mean, we would... if we had any money. Maybe we can just buy some on credit. Any one else get the irony that this is the same bunch who made filing for bankruptcy harder? Because the rest of us need to be fiscally responsible, while our government isn't. We shouldn't spend more of our money than we have because they will I guess.
The current account deficit isn't primarily the result of government spending.
Maybe so, but they didn't exactly help.
It's only those Republican policies that run up the tab, eh Demoman?
True conservatives know for a fact that Bush has royaly screwed up when it comes to spending.
Bush is not a conservative. End of story.
Ah.... the rhetoric from his camp says otherwise. As pops up on this forum from time to time the facts seem to be: The Rovians have hijacked the term under the false banner of socioreligious conservatism. However, anyone who's searched Google Images under Jenna Bush or know's GW's party history knows better.
What I'd like to know is how Japan has 165.6 billion dollars in their account. How is that even possible?
You live in IL so maybe it's not so obvious there, but here on the left coast, about 3 out of 5 cars are Japanese. Then take a look around at all the electronics in your house. They may be made in China, but chances are the profits go to Japanese companies. The same with Germany and cars and obviously if it weren't for walmart, China would still be in the dark ages
Also, the Japanese are very good savers. Whereas we are very good overspenders.
Which nations do you think end up buying into the massive debt we as individuals create for ourselves?
Those who want to be in charge of the bankruptcy proceedings?
No, I'm sure they helped too. But who's in charge right now? And who claims to be conservative while spending like crazy on pork barrel stuff while much needed social programs get cut to sheds?
We know, but tell that to the conservatives who keep voting for him.
The old world lords always had to provide enough for their workers to have shelter, food and clothing and a means to get to and from work.
( mostly by foot those days)
Nothing has changed really.
If your pay check says wages, tips or compensation, you are one of the working poor.
We are being used by those who are above taxation and for the most part above the law.
The scope of their wealth and power is nearly impossible to comprehend.
Just look at how many workers Ford is getting ready to buy out.
How can a company lose 6 billion in one year and still remain in business at all?
The real workers and the middle managers will go,risking everyhting while the
owners and top %ers set up insanely large nest eggs.
If those 75,000 workers were to revolt, they would lose their buy-out offers.
When you add in the 1/3 of office workers,
This will put Michigan in a serious financial crisis.