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Debt Crisis?

3K views 22 replies 7 participants last post by  tecumseh 
#1 ·
I was wondering if any member will not receive their federal government check come the first of next week?

I have purposefully added a question after Debt Crisis to see if this produces any alternative response by the members. Having at one time worn the suit of a banker I will say my view on this matter is structured and I suspect a bit different from the regularly repeated 'media' and political sound bites.
 
#5 ·
my own personal view here is NO ONE has the information (or has presented in information) necessary to know if we are or are not in some kind of debt crisis. so bottom line for me is... this controversy seems to be conjured up from thin air and really represents no real substance what so ever. it is fertile ground for any and all demigods to get their 15 minutes of fame.
 
#7 ·
I think you should set aside one day a week devoid of Debt Crisis thought. Voluntarially of course.

Otherwise, I agree. Smoke and mirrors. Illusion. Majic. It makes me think that there is something we are being distracted from just beforew the Magicians pull a rabbit out of a hat. We may be in for a big surprise, but, most likely a great disappointment.
 
#11 ·
Globally we may be coming close to a reality check; the present economic model appears dependent on ever continuous growth and parallel debt expansion. Unless cheap fossil fuel extraction is also ever expanding it appears the model defies the law of thermodynamics if projected. A great percentage of the activity since the crunch of 2008-9 has merely been put on the credit card. The so called stimulus spending is demanding repayment but the jobs are not coming back to finance it. As usual the fat cats are demanding that the little ones be the first to do the belt tightening! If bees were as predictable as man they would be easier to manage, lol!
 
#12 ·
I've been hearing that some newly elected reps.have signed a pledge not to raise taxes that some preacher dreamed up. If they are elected by the people, why would they throw there allegiance to one man. :confused: I thought if your elected by the people you owe your allegiance to the people not one mans idea.To me no elected official should be held to one person by a pledge for anything. What's going on here? Nobody can guess what they will have to do in the near future.I'm like the rest of you, i don't like taxes either, and sure don't like the idea of an elected official signing a pledge (for anything) to one person. I'm i missing somrthing here. :confused: Jack
 
#13 ·
I think perhaps Jack you are talking about Grover Norquest (sp?) who I don't believe is a preacher although very definitely falls into the extreme idealogue (sp?) category. And NO I don't personally believe you have missed anything at all. I guess someone should have taught those folks some BASIC HISTORY that such purely held beliefs don't work so well in the world and that in a hard blow a tree that fail to bend breaks. In my eyes anyone who signed such a pledge is extremely foolish and perhaps even a bit naive.

personally I think the current business model (money coming in and money going out) for the US government is broken. it is really not a matter of enough economic activity (GDP) but enough influential folks have gotten themselves exclusions from tax obligations (the data is fairly clear on this point) so everyone else (generally anyone working for wages who gets a W2 form) gets to take up for these slackers. without a doubt for the political types (our elected officals) it is easier to borrow money than to impose more taxes.
 
#17 ·
Jim Jones woa... now that brings back some bad memories. I would say the Jim Jones incident did make me go out and read a bunch of stuff to come to some understanding as to how folks could get to the point of poising their own children. so yes I guess I can seem some similarities.

you would think at the end of the day a proper elected official would set down and say to themselves 'what should I do that is in the best interest of those that sent me here but even more important than that what is in the best interest of the entire country'. most I suspect are too much focused on what is necessary to get them reelected the next go round... which I guess is somewhat along the lines of what Hobie is suggesting????
 
#18 ·
Getting elected is the first concern of any elected Politician. If you think they will think of those who elected them first, why would they? They already put the person in office. It's like when I go to the auto parts store and the clerk answers the phone in the middle of our transaction. I already made the effort to get there, I'm not likely to walk out w/out what I came for. And they know it.
 
#19 ·
sqkcrk,you have a good point, and it has worked over the past years. But now that people are losing there jobs, homes, digging into there retirement funds, and seeing there kids go hungry, they are getting a heads up, and those type of people (i hope) will join the unemployement line. Jack
 
#20 ·
Every day sees new examples of political corruption and that makes headlines but there are lots of others who are trying to do the best they can. I expect lots of them got bad advice from everyone who was trying to pull their strings for favors. About a week ago a big chunk of cement from an overpass in Montreal fell on an expressway. Others are closed for repairs. Infrastructure all over is crumbling and there simply is not enough money anywhere to repair it all. All over the world there is similar situations. Industry begs off paying taxes because they say it would make them uncompetitive with other countries. Unemployed or underemployed workers can pay no more additional load. We cant put any more on our national credit cards so what do you do. We could riot and destroy the establishment demanding a bigger piece of the pie but if the pie is only a dream it we wont enjoy it much. There may be big restructurings ahead in the way we have to provide our daily bread and necessities. Frozen strawberries air freighted for thousands of miles just may no longer be on the menu!
 
#21 ·
I'm not smart enough (or crooked) to be a politician, but it seems to me that if they would put a tariff on the goods coming into this country to match the goods made here, and give big tax breaks only to the company's that have them in the US of A, that it would help get us back on our feet. But if you have enough money you can buy politicians and not let that happen, so you can get rich on slave labor from over sea's.Sorry i'll get off my soap box. Jack
 
#22 ·
My favourite "world going down the tubes" commentary:
http://www.kunstler.com/index.php
At first look, he comes across as a raving nutcase, but I've been following him for several years and unfortunately I have to agree with most of his predictions.
Happily, beekeeping is one area of activity that can survive the crash. The question is no longer if, but when. In the meantime, don't worry, be happy (and learn how to keep bees!)
 
#23 ·
nice read although I don't think the fellow has a clue. I think he could have reduced his somewhat elaborate notion to 'a generational shift in perceived moral risk'... which basically works out to the rich banker get the cash and you are left holding a bit of useless paper.
 
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