Well, it's happened - our country's credit is downgraded. Is it because of some fundamental new flaw in our economy? Did anything change between yesterday and today that investors think means Wal Mart will sell less laundry detergent? Nope. It's because they have finally gotten it through their heads: The US congress is out there. It can't be bargained with. It can't be reasoned with. It doesn't feel pity, or remorse, or fear. And it absolutely will not stop, ever, until the last rich person pries the last penny from the cold, dead, uninsured fingers of the last middle class sucker. The fault, dear Brutus, is not in our economy, but in our Congress, that they are Assholes.
The problem is way bigger than US actual economy. All European country also have big debts. People thinking that the debt is only because the politics are making bad investment, because of things such as social security, or anything else, people thinking these types of things are actually just closing their eyes on the real problem : the capitalism as it is today is using the states in order to boost productivity and profit. Our countries debts' is what is feeding the global economy since ten or so years. And that is because profit should stagnate since some time but since noone is okay with that, then they cut thing everywhere and ask for the state to fill the holes.
How to get the rich and pay for 1 year of the massive government deficit by Iowahawk
12:01 AM, January 1 Let's start the year out right by going after some evil corporations and their obscene profits. And who is more evil than those twin spawns of Lucifer himself, Exxon Mobil and Walmart? Together these two largest American industrial behemoths raked in, between them, $34 billion in 2010 global profits. Let's teach 'em both a lesson and confiscate it for the public good. This will get us through...
9:52 AM January 4 Okay, maybe I underestimated our take. But we shouldn't let Exxon and Walmart distract us from all those other corporate profiteers out there worth shaking down. In fact, why don't we grab every cent of 2010 profit made by the other 498 members of the Fortune 500? That will net us another, let's see, $357 billion! Enough to get us to...
2:00 AM February 9 So we're running out of corporate cash, but look - it's Super Bowl time! As we all know, the game has become a crass disgusting festival of commercialism. So let's take all the TV ad money spent on stupid Super Bowl ads, and apply that to government needs. That would be $250 million, enough to fund us for, let's see... 36 minutes. The half time show, at least. But why stop there? Let's take every cent of ad money spent on all 45 Super Bowls, a cool $5 billion, which would cover us until...
2:00 PM February 9 Speaking of sports, why should the players be immune to our pressing public needs? Lord knows professional athletes make obscene salaries for playing a dumb game. So let's take the combined salaries of all players in the NFL, Major League Baseball, the NBA, and the NHL. Hey, they've got endorsement deals, they'll hardly miss it. Throw in the total winnings of everybody on the PGA tour and NASCAR, and we get $9.4 billion, enough to get us through until...
1:00 PM February 10 Okay, it's time to stop messing around. Athletes aren't the only ones greedily raking it in. What about America's rich - those fancy pants fat cats living the high life in the above-$250,000 income bracket? According to IRS statistics, these 1.93% of US households are hogging 25% of US income. And why do they need it? For crying out loud, they probably stole it anyway. I say let's take 100% of every penny they make above $250,000. They can use the rest to pay their state and local taxes. Now we're talking big bucks, brother. How much? Let's see...
Our $1.412 trillion windfall has us covered for the next 141 days, or until...
6:00 PM July 2 Well, I guess maybe there are a few items we can cut from the budget. Those quagmires in Iraq and Afghanistan, for example. Why don't we end all funding for those wars, and bring our troops home to march in the Fourth of July parade? That would save us $105 billion Afghanistan and $159 billion in Iraq, a total of $264 billion - enough savings to cover us until...
4:00 AM July 29 Summer blockbuster season! And of course the biggest blockbuster of all time was Star Wars. To punish George Lucas for those stupid sequels, let's confiscate every penny of revenue generated by the Star Wars franchise since 1977 - movies, TV rights, books, toys, action figures, everything - which nets us $25 billion. Enough to keep the lights on until...
4:00 PM August 1 Well, there's plenty more money in Hollywood to go after. So, for the national good, let's evict everyone in Beverly Hills and sell their homes at current market value. 15,000 homes at $2 million per gets us another $30 billion, paying the bills through...
4:00 PM August 4 The kids will be going back to school soon, so we're gonna have to bring out the big guns and really go after those moneybag plutocrats like Warren Buffett and Bill Gates. Between 'em, those two bastards have amassed a combined fortune of $100 billion. What kind of jerk needs that kind of money? The worst thing is they're shielding it from the public treasury using the oldest trick in the billionaire playbook - by continuing to live. Once they kick the bucket, and after we close the estate tax loopholes, the American public will get the 50% of their ill-gotten loot we so richly deserve. So let's say we arrange a couple of unfortunate "accidents" for Mssrs. Gates and Buffett. Now we've got another $50 billion for the US coffers, enough to get us to...
4:00 PM August 9 Aw, screw it. There are plenty more American billionaires to go after - 398 more to be precise, according to the latest Forbes 400, with a combined total net worth of $1.29 trillion. 398 more "accidents," 398 more estates taxed at 50%, and we've got another $650 billion to tide us through...
4:00 PM October 13 Crap. Okay, let's just kill all the billionaires and take all their money. Add in another 100 or so of the almost-billionaires, and that buys us an additional 73 days until...
4:00 PM December 25 Merry Christmas! Just one more week to go. In the spirit of the season, let's give the surviving conservative wingnuts a few of the budget cuts they've been bitching for, like getting rid of foreign aid. This saves $50 billion - getting us to...
4:00 PM December 30 Only 32 hours to go! To cover the remaining $12.5 billion vital federal program tab, let's pass the cash bucket and demand every surviving American man, woman and child to kick in another another $40 bucks. I'm pretty sure they will, after all those previous "accidents."
On August 07 2011 07:11 WhiteDog wrote: The problem is way bigger than US actual economy. All European country also have big debts. People thinking that the debt is only because the politics are making bad investment, because of things such as social security, or anything else, people thinking these types of things are actually just closing their eyes on the real problem : the capitalism as it is today is using the states in order to boost productivity and profit. Our countries debts' is what is feeding the global economy since ten or so years. And that is because profit should stagnate since some time but since noone is okay with that, then they cut thing everywhere and ask for the state to fill the holes.
no, it's because our economys are based on real stuff that can't grow forever in ever increasing speed. But thats what would be needed to keep the system stable.
Our states try to push the lifetime of your current moneysystem just a little further.
On August 07 2011 07:11 WhiteDog wrote: The problem is way bigger than US actual economy. All European country also have big debts. People thinking that the debt is only because the politics are making bad investment, because of things such as social security, or anything else, people thinking these types of things are actually just closing their eyes on the real problem : the capitalism as it is today is using the states in order to boost productivity and profit. Our countries debts' is what is feeding the global economy since ten or so years. And that is because profit should stagnate since some time but since noone is okay with that, then they cut thing everywhere and ask for the state to fill the holes.
no, it's because our economys are based on real stuff that can't grow forever in ever increasing speed. But thats what would be needed to keep the system stable.
Our states try to push the lifetime of your current moneysystem just a little further.
Don't really understand your point, your saying the same thing a I am. In fact when I stay stagnate I actually mean profit should fall.
The Problem are the huge amounts of wealth (savings of people) that demand huge amounts of intertest (because everything that exists in savings is then lend to someone) that someone has to work for (the people, copmpanys, countrys borrowing money)
Key is distribution of wealth here. When your savings exeed your spending and the amount of money is ever rising without ever getting spend you take the chance of the deptor to earn the interest you made by lending your savings (you atomatically do that if you put it into a bank). Creates the problems we just experience.
There is a recent column in the NYT that points exactly to that Problem, reads like this:
"No one better explains the implications of this than Kenneth Rogoff, a professor of economics at Harvard, who argued in an essay last week for Project Syndicate that we are not in a Great Recession but in a Great (Credit) Contraction: “Why is everyone still referring to the recent financial crisis as the ‘Great Recession?’ ” asked Rogoff. “The phrase ‘Great Recession’ creates the impression that the economy is following the contours of a typical recession, only more severe — something like a really bad cold. ... But the real problem is that the global economy is badly overleveraged, and there is no quick escape without a scheme to transfer wealth from creditors to debtors, either through defaults, financial repression, or inflation. ... "
Im quoting one of the best current Argentine thinkers : "How are politicians going to explain that taxes are being used on Airplanes, and that the rich are not being taxed properly, when the poor are not getting decent medical attention? This menaces to destroy the social fabric in the US"
full text in spanish of what I consider a valid analisys.
China, the US’s biggest creditor, reacted to the downgrade of America’s credit rating by saying it showed that US should “cure its addiction to debts” and called for a new stable global reserve currency instead of the dollar.
The day the world doesn't want our dollar, is a day we should be more concerned about.
... and how would we go about getting something for nothing ? It won't be free.
I have a feeling I know ur political affiliation, so I will spare the explanation of how contracts work, but essentially taxes everyone pays would help get get everyone in this country free access to really good internet. With the best bandwith on the planet, small businesses here would not have problems supplying their customers with the services they want and consumers could have quick and easy access.
Consider how good a product like MLG or Desitny's stream could be if American internet was better for everyone, not just the huge companies that can pay the hefty fees for 1GB/S...
Vote Ron Paul 2012. These economic crises are because of a failed economic policy, we have a spending problem and it's hurting our dollar. The reason I'm voting RP in 2012 is because he is the only candidate who holds a solid stance against the multiple wars. Obama has proven he will cut benefits BEFORE he cuts a dime from the war. What a joke coming from someone who said he would bring our troops home..
This coming from former democrat who voted for Obama.
Gotta agree with Lallsc2, Obama made promises of no tax increases for average people and to get us out of both wars and he hasn't made good on either of those two huge issues. Its interesting how the people in DC would rather have so many Americans lose jobs and have to live with family etc rather than cutting funding from the military and using those funds to bring some relief back home. Funny how politicians work, they get in there spots by lying and instead of empowering the country the sabotage us. Thanks Washington DC for always making our country look like morons, nobody could do it better than you guys.
On August 07 2011 16:00 RaLakedaimon wrote: Gotta agree with Lallsc2, Obama made promises of no tax increases for average people and to get us out of both wars and he hasn't made good on either of those two huge issues. Its interesting how the people in DC would rather have so many Americans lose jobs and have to live with family etc rather than cutting funding from the military and using those funds to bring some relief back home. Funny how politicians work, they get in there spots by lying and instead of empowering the country the sabotage us. Thanks Washington DC for always making our country look like morons, nobody could do it better than you guys.
On August 07 2011 16:00 RaLakedaimon wrote: Gotta agree with Lallsc2, Obama made promises of no tax increases for average people and to get us out of both wars and he hasn't made good on either of those two huge issues. Its interesting how the people in DC would rather have so many Americans lose jobs and have to live with family etc rather than cutting funding from the military and using those funds to bring some relief back home. Funny how politicians work, they get in there spots by lying and instead of empowering the country the sabotage us. Thanks Washington DC for always making our country look like morons, nobody could do it better than you guys.
military spendig = jobs in the US
you are depending on them as well ...
They are jobs but unproductive jobs. Rule of life, not all jobs are created equal. In general, government jobs are less productive to the economy than jobs in the private sector. The military is probably one of the least productive jobs, because war makes economies worse instead of better.
In 18 minutes Obama will address the nation in regards to our terrible financial situation. I imagine there will be ample finger pointing! Lets see if he continues the current trend of blaming tea party as a scapegoat.
On August 07 2011 16:00 RaLakedaimon wrote: Gotta agree with Lallsc2, Obama made promises of no tax increases for average people and to get us out of both wars and he hasn't made good on either of those two huge issues. Its interesting how the people in DC would rather have so many Americans lose jobs and have to live with family etc rather than cutting funding from the military and using those funds to bring some relief back home. Funny how politicians work, they get in there spots by lying and instead of empowering the country the sabotage us. Thanks Washington DC for always making our country look like morons, nobody could do it better than you guys.
military spendig = jobs in the US
you are depending on them as well ...
They are jobs but unproductive jobs. Rule of life, not all jobs are created equal. In general, government jobs are less productive to the economy than jobs in the private sector. The military is probably one of the least productive jobs, because war makes economies worse instead of better.
Not really. Military spending is some of the most productive government spending. Military spending and military jobs creates a demand in the private sector for the development and manufacturing of weapons and other technologies. That's pretty damned productive for the American economy when you think about it. Compare that to spending on the EPA or any of the regulatory agencies. Instead of generating a market for the private sector, these agencies and their regulations increase the cost of the private sector doing business, effectively hampering their businesses.
On August 07 2011 16:00 RaLakedaimon wrote: Gotta agree with Lallsc2, Obama made promises of no tax increases for average people and to get us out of both wars and he hasn't made good on either of those two huge issues. Its interesting how the people in DC would rather have so many Americans lose jobs and have to live with family etc rather than cutting funding from the military and using those funds to bring some relief back home. Funny how politicians work, they get in there spots by lying and instead of empowering the country the sabotage us. Thanks Washington DC for always making our country look like morons, nobody could do it better than you guys.
military spendig = jobs in the US
you are depending on them as well ...
They are jobs but unproductive jobs. Rule of life, not all jobs are created equal. In general, government jobs are less productive to the economy than jobs in the private sector. The military is probably one of the least productive jobs, because war makes economies worse instead of better.
Not really. Military spending is some of the most productive government spending. Military spending and military jobs creates a demand in the private sector for the development and manufacturing of weapons and other technologies. That's pretty damned productive for the American economy when you think about it. Compare that to spending on the EPA or any of the regulatory agencies. Instead of generating a market for the private sector, these agencies and their regulations increase the cost of the private sector doing business, effectively hampering their businesses.
Wow. Military spending goes straight into the hands of some of the richest, most powerful corporations in the world. Those same corporations invest heavily into lobbying and as a result we are still in these wars, while the MAJORITY of people in this country have clearly voiced their desire to end these wars.
The ironic part about this situation is that the longer we're over there in these other countries bombing, the more likely it is we will be bombed here at home. This war thing is like a self fulfilling prophecy. It's been said before, bombing for peace is like having sex for virginity. It makes no sense.
Obama just finished his speech. For any of you who would like it summed up.
Obama decided to ignore economic law and continue with the overall status quo spending as usual approach to the economy. He boasted about the cuts that were made with the debt deal, and told the people that we couldn't stop there.
Obamas next area of interest is going to be increasing taxes on incomes above $250,000 as well as what Obama only described as "modifying healthcare".
In essence, the markets and the dollar will continue to pay the piper until more sensible economic and foreign policy takes root.
EPT
