Discussion: The Economy, Fiscal Cliff, National Debt, And Other Financial Issues III

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Paradoxium

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Dear François Hollande,

It's called

CAPITAL FLIGHT

You may return to your magical unicorn rainbow farting fantasy land.

Dox,
 
I call it, the future...
 
Dear François Hollande,

Remember that time you said you would make it harder to fire people. **** getting real now, with companies preparing to fire as many as possible before it kicks in. You know this famous french auto company? Now you haz a temper tantrum over this?

It's called

SUPPLY AND DEMAND.

You can't keep increasing production and supply when there is no demand. Much less keep the company sustainable. So in temporarily saving some jobs for political capital, you are going to cost everyone at that company their jobs.

Math is a *****.

Dox,
 
^Or just like American's need to keep increasing it's military budget over other domestic expenses.

The best example of creating something when there is no real demand for it in during the Soviet invasion of Afghanistan. $3 billion given to the Mujahadeen to fight the Russians, to train and arm them too. Just because they took our money and training doesn't mean they are our friends. The Soviets would have been defeated without the US intervention. Instead it helped the Taliban take Kabul, Al-Qaida rise to power, and Osama Bin Laden to cause the 9/11 attacks because of blowback from so much military intervention in the Middle East that killed civilians and armed the wrong people for the politician agenda of America. This is why I assert 9/11 is really America's legacy during the Cold War coming to bite it in the butt, 9/11 was the first time Americans had to question directly whether or not their military foreign policy had something wrong with it.
 
^Or just like American's need to keep increasing it's military budget over other domestic expenses.

The best example of creating something when there is no real demand for it in during the Soviet invasion of Afghanistan. $3 billion given to the Mujahadeen to fight the Russians, to train and arm them too. Just because they took our money and training doesn't mean they are our friends. The Soviets would have been defeated without the US intervention. Instead it helped the Taliban take Kabul, Al-Qaida rise to power, and Osama Bin Laden to cause the 9/11 attacks because of blowback from so much military intervention in the Middle East that killed civilians and armed the wrong people for the politician agenda of America. This is why I assert 9/11 is really America's legacy during the Cold War coming to bite it in the butt, 9/11 was the first time Americans had to question directly whether or not their military foreign policy had something wrong with it.

I agree somewhat with your post, we have always seemed to not figure out our true enemies until its too late....that has always been our history, but we don't know for sure that the Soviet Union would have been defeated....I think they would have pulled out years later after not being able to solidify a win there.....much like we have done in our 2 wars there....I guess you could say that capturing Saddam Hussein and killing Bin Laden are both wins...but neither will do much in the true sense of "freedom" as we know it in Iraq and Afghanistan....the Sunni and Shia will continue to fight for power in Iraq, and the tribal leaders will continue to fight for power in Afghanistan....not much has changed. Except that Saddam was a secular dictator....so the Sunni and Shia had to keep it quiet.
 
Greece's Great Depression

http://www.newsdaily.com/stories/bre86l07l-us-greece-clinton-depression/


Posted 2012/07/22 at 8:34 am EDT

ATHENS, July 22, 2012 (Reuters) — Greece is in a "Great Depression" similar to the American one in the 1930s, the country's Prime Minister Antonis Samaras told former U.S. President Bill Clinton on Sunday.



Samaras's comments come two days before a team of Greece's international lenders arrive in Athens to push for further austerity measures if the debt-laden country wants to qualify for further rescue payments and avoid a chaotic default.

Athens wants to soften the terms of a 130-billion euro bailout agreed last March with the European Union and the International Monetary Fund, to soften their impact on an economy going through its worst post-war recession.

Greek GDP is expected by the end of this to have shrunk by about a fifth in five consecutive years of recession since 2008, hammered by tax hikes, spending cuts and wage reductions required by two EU/IMF bailouts. Unemployment climbed to a record 22.6 percent in the first quarter.

"You had the Great Depression in the United States," Samaras told Clinton, who was visiting Greece as part of a delegation of Greek-American businessmen. "This is exactly what we're going through in Greece - it's our version of the Great Depression."

Athens must reduce its budget deficit below 3 percent of GDP by the end of 2014, from 9.3 percent of GDP in 2011 - requiring almost another 12 billion euros in cuts and higher taxes on top of the 17 billion successive governments have cut from the budget shortfall.

Greece wants its lenders to give it two more years to achieve the budget goal to avoid an even deeper economic slump but its lenders have opposed the idea because it would imply an even bigger financial aid to the country.

Highlighting growing frustration with Athens, German magazine "Der Spiegel" reported on Sunday, without citing sources, that the IMF may not take part in any additional financing for Greece.

The German and Greek finance ministries declined to comment on the report, which suggested additional support required for Athens could range from 10-50 billion euros.

Officials have already indicated there would be a shortfall on the current bailout. How much is likely to depend on the extent by much Greece misses its fiscal targets and the extent of support needed to keep its major banks afloat.

The inspection team of the international "troika" of the EU, the IMF and the ECB will focus on the 11.7 billion euros of spending cuts Athens needs to take in 2013 and 2014.

Clinton criticized Greece's lenders for focusing excessively on austerity, saying Athens will be more likely to repay its debt if its manages economic recovery first.

"(It) is self-defeating... if every day people are saying this may or may not work to give us back a 100 cents on the dollar, so give us more austerity today," he told Samaras.

"People need something to look forward to when they get up in the morning -- young Greeks need something to believe in so they can stake their future out here," Clinton said.

(Reporting by Harry Papachristou in Athens and Georg Merziger in Berlin; editing by Patrick Graham)
 
Greece is wrecked, and USA is looking to go next if it keeps up with this corrupt two-party system. Printing money, borrowing money, the dollar is already wrecked...only thing starving off a monetary collapse short term is printing money and China and Japan not selling their US debt? :dry::csad::dry: Just 100% screwed...
 
The House has passed an audit the fed bill. Let the Senate filibuster begin.
 
The House has passed an audit the fed bill. Let the Senate filibuster begin.

There won't be a need for the Senate to fillibuster. Harry Reid already stated he won't bring it to the floor for a vote.
 
The world is going to end. The world is going to end. High interest rate is gonna kill everyone, not nuclear war :cmad:
 
Just glad to see the House actually adopt this Bill....here's hoping the Senate pass it, yet alone, bring it to the floor.
 
Well I do remember reading there is a 98% chance that Greece will default on its debt by 2016.
 
Just glad to see the House actually adopt this Bill....here's hoping the Senate pass it, yet alone, bring it to the floor.

Harry Reid has come out saying that he will not bring it to the Senate floor.
 
Wow, I'm surprised.........not.
 
Republicans will never allow something to take that many profits away from their corporations. Obama should have done it when there was a Democratic majority in both houses in 2009. I think the timing for this now is just for an election year.
 
Republicans will never allow something to take that many profits away from their corporations. Obama should have done it when there was a Democratic majority in both houses in 2009. I think the timing for this now is just for an election year.

And I wonder why he didn't? Because he gets money from these corporations as well....
 
Republicans will never allow something to take that many profits away from their corporations. Obama should have done it when there was a Democratic majority in both houses in 2009. I think the timing for this now is just for an election year.

Wait, what? Did you read the stories? The audit the fed bill passed through a REPUBLICAN House of Representatives. Now Harry Reid, the DEMOCRAT majority leader has promised that the Democrat controlled Senate won't let it reach the floor. Take off the party blinders, mate. Both sides are controlled by corporations, even your beloved Obama.
 
Wait, this wasn't about Obama letting the Bush era tax cuts expire? Ron Paul actually got the passed a member of the House? I wonder how Obama feels about it?
 
Wait, this wasn't about Obama letting the Bush era tax cuts expire? Ron Paul actually got the passed a member of the House? I wonder how Obama feels about it?


No, they did that one backwards....passed the Senate and now headed for the House....it won't pass the House...but they will at least vote on it...

Ron Paul's legislation passed the House....but won't even make it to the floor of the Senate for a vote...
 
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