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Discussion in 'Chit-Chat' started by ctjcad, Mar 22, 2010.
All the savings should have been done (long time) before. Now its the time for rescue and recovery.
1. Pay more taxes to stop the massive bleeding.
2. Spend less.
3. Save more.
haiz... I don't see this is going to change much in our lifetime. The world need them to spend. It debt will just go on and on and on and on.....
In a way it is like a massive dam that still keeps and holds the ever increasing volumes of water. The only strong supports in the dam are the Chinese, Japanese, Taiwanese, Hong Kong, Singaporeans, and the Arabs.
Those in the upper reaches of the dam wouldn't want to antagonize one of the bigger supports holding the dam. If one big piece of the supports pulls out it will have a domino effect, and that will be the end.
Interest rates will shoot up to slow down other supports from pulling out, but it will be in vain because no creditor nation wants to end up with Banana Republic treasury bills.
There is a very wise saying. Beggars cannot be choosers.
Yeah, you owe bank $10,000, bank own you.
You owe bank $100,000,000. you own the thank.
Isn't it chinese saying that.
You kill 1 person, you are a murderer.
You kill 10 people, you are a mass murderer.
You kill 10,000, it is genocide.
You kill 1,000,000 you are a revolution hero.
I am not against passing health bill, I am sure a lot of us are just poor when starting out fresh from college or U and if at that time, encountered poor health then we are screwed and would not afford health care. To help the poor and less fortunate is good governance.
But I believe in fiscal responsibility that to pass this bill or any spending bills should first look at where to find the money (cut somewhere else) to support that, not to borrow more $$$ till eternity, run deficits, add to the national debt just to support a bill that BO said he will do when he was campaigning for the job.
On the post that the 'world need USA to spend more'...no one will campaign to be PM or president to leave a boring legacy of paying of the debts of the previous president or presidents before. It is easy to spend to say you actually have done something good for the American public and leave a legacy and go down in history as it was 'I' who get the health bill passed than see, it was 'I' who balanced the budget and start the process of paying of the debt.
I am still seething US$800B (yes, it is a big B) a year in interest debt servicing and only a dumbo can still believe that this show can go on...and on. Unbelieveable. World leaders applaud BO for this bill yet NO ONE raise concern about USA debt and how to sustain paying for this expenditure. If USA implode, Americans might as well kiss this bill and everything else. Of course, the proponents will said, USA is too big an economy to collapse and the debt to GDP, etc, etc is small potato.
Maybe I just hate debt, it is like a stain that unless you manage to clean it of, it will stick onto you, and if not careful, can grow and it stinks
North America's economy runs on consumer spending than like Asians who save more than spend, generally speaking. Charge up first, worry about the payment later, or rather if you can manage the minimum monthly payment then nothing to worry, life's go on. In the case of presidents, why worry about debt payment, pass the buck to the next guy or gal. Once you got a card, a credit card is like a bank loan with astronomical interst rate but you do not need bank approval before spending. Get more cards, more spending power.
No surprise .
Is this the product of freedom of choice?? If so, I would consider myself lucky
..that's called power of the govt. All this mess is because of all the govt. bureaucracies and regulations/laws involvement. Housing, finance, banking...who set the rules?? who's even involved in all these?..see the connection??..
At the end of the day, freedom of choice still rules..Btw, there's no freedom of choice in Aussie??..
Hold on, the govt and the law makers were not chosen by US citizen by free choice? The US markets (housing, finance, banking, etc) is not a free markets? Stop blaming the govt, the citizen is as much guilty.
The AU is a free country too (just like many other democratic countries), but surely has different regulations (with the US) on many issues (such as: health care, govt spending, fiscal policy, banking governance, global warming, etc).
..the politicians get chosen by the people, sure. But that's as far as they go. You don't think politicians are crooks and liars and don't cheat & look for themselves?..
So, tell me, how did the U.S. housing market bubble burst?? You think the avg citizen did it?..I don't think you know the real deal..if you don't know, just admit...Or read the "Sky is falling I & II" threads to find out..
Tell us how the citizens are as much guilty when their hard earned money gets taken away??..
My American friends, just look at how the world is coming out from the financial mess. Mainly, it is China and the US who are inflating their economies and in the process have literally saved the world from a complete collapse. Many countries are showing strong recovery except for the EU.
Just look over your shoulder at the EU, the odd one out who did not inflate their economies the way the US and China did. Now they are in a mess. A tiny country like Greece and maybe later Spain, Italy, Portugal, and Ireland can cause so much damage to the EU. The EU is not doing well in the recovery compared with the US and China.
Now that the stimulus works, the US needs to think hard about the future when there are no more stimulus to kick-start the economy. China is already starting to reduce its stimulus and I hope the US has the political will to do the same.
The ones that tugs the EU down are affectionately (hrrrmm) called the PIGSS., no wonder the UK never ever wanted to have to do with them in the very beginning. Pounds Sterling took a beating of their own no less, but if indeed they went with the Euro derailment express...
So the people in the US always make a bad choice and choosen crooks and liars in every election?? oh c'mon!!! If so, no need to vote just stay at home why bother.
The average citizen is in a sense guilty because of their consumption behaviour, which also include their borrowing behaviour.
LOL, LOL (15 chars)
It really scares me to hell to think of what might have been if George Bush was still in power instead of Obama.
Americans should think hard and dwell on this instead of needlessly and shamefully bashing their new president who is really doing a good job for the US economy.
Agree 100%. BO is good enough for me
Just have a look at the EU. It is an ageing union of countries. Its future looks bleak from a demographic viewpoint, unless it opens its borders to future hordes of Turks and muslims.
It is not looking well in the current world order, bogged down by a few troublesome countries. It has a disproportionately large representation in world bodies like security council seats in the UN (2), IMF, World Bank, G20, too many hand-outs and social security that are unsustainable, but almost zero contribution to help the world economy.
I feel the creation of the EU may turn out to be Europe's greatest mistake and disaster, which it will not recover from.
..i'm not suggesting all politicians are like that, but most of them are.
I mean, what else are they good at if not as crooks, liars, cheaters??..
Yes, unfortunately a lot of people vote w/emotion and heart rather than brain. And if you don't know, a lot of the voters who voted for BO are now expressing their regrets.
Avg citizens are consuming in such ways because of why? Because of the govt. and rules and regulations set by them. If the govt. sets the rules and regulations, how else are the people going to behave?...think!
Fannie Mae, Freddie Mac..credit to bank.....who set them up and control them?..
..still blaming W until now??..
Yeah, not a surprise. Liberals, esp. big government supporters are in love with BO. Heck, they probably worship him....Btw, do you guys have an altar w/a picture of BO in your house??..
This is for Yoppy..
Take a guess..
Is It the NBA Or NFL?
Have been accused of spousal abuse
Have been arrested for fraud
Have been accused of writing bad checks
Have directly or indirectly
Bankrupted at least 2 businesses
Have done time for assault
Get a credit card due to bad credit
Have been arrested on drug-related charges
Have been arrested for shoplifting
Are defendants in lawsuits, and
Have been arrested for drunk driving
The last year
You guess which organization this is?
Give up yet?... Scroll down,
it's the 535 members of the
United States Congress
Same group of Idiots that crank out
Hundreds of new laws each year
Designed to keep the rest of us in line.