Great Depression Upon Us...Again?

[fmahovalich]

Thats exactly the point IRIS

No matter where the debt...do we have the resources, the taxes, the GDP to pay for it...

All countries can say the same thing...


Printing money is the easiest...and stupidest solution!

 

[fuji]

If every country is in debt, where is the money?

China is not in debt, it holds much of the bonds.

 

[groggy]

I agree cutting the taxes hurts...when rich and corporations don;t pay.

But herein is the pickle...

You cut the taxes..so these Corporations can compete in the global economy..and the rich will continue to invest in N.America!!.,.

Without the lower taxes...who knows how MANY MORE companies would leave the USA to find workforces for cheaper in foreign lands.

The corporations are already competing in the global economy, that's why there aren't nearly the factory jobs left, except in heavily subsidized industries like auto's.
The rich don't invest in north america, they invest wherever they can make money or they horde their money.
Lower taxes just don't help, look at tax rates in the US and the unemployment rate. Tax rates went down for the rich and unemployment went up.

 

[nottyboi]

China is not in debt, it holds much of the bonds.

China is only not in debt if you consider the 2 trillion in US treasuries on the Feds books to not be debt. Estimates on what China has done along similar lines (with no transparency however) amount to about $6 trillion in total. So as a percentage of GDP China is actually deeper in debt then the US, just none or little of it is in foreign hands and only some of it is reported (about 1.5T). Even though China is printing money like mad, no one would dare to take down the yuan as China has massive foreign currency reserves to back the yuan.

 

[GPIDEAL]

That's the end run result of unbridled capitalism and free trade.
Free trade has leveled the wages around the world, the US is now competing with China and India for factory work. Which is why most things are made in China these days and the US is undergoing downward pressure in wages and pensions to compete.

Free market capitalism has meant the end of the middle class as well, in the US. The division of wealth among the population is now at about the same levels as it was during the depression.

Their screwed up political system means only rich folks in the pockets of corporations will ever be elected, and they will never raise taxes.

I'm not sure if you're right but it sure as hell seems that way.

As far as I know, we don't have a Free Trade Agreement with China. As a 'developing nation', they just have lower wages, but that's changing too. If there was a FTA with China, they would be subject to the rules against government subsidizing industry, etc. etc.

 

[kratz]

Guess what globalism has created millions of new jobs, just not in the union infested rustbelt of America. and Old Europe.
Now we have tragic levels of unemployed youth, trying to sustain a massive overhang of entitlements.

Thought your vaunted Globalism would correct this???
Remember how you used to chirp how Globalism would create millions of new jobs and this would cause the USA to 'grow' out of our Debt???

WTF happened bottie, to all this crap you learnt in business school???....

 

[kratz]

here is one I dont get.
Ontario has a GDP of abt 600 billion and a deficit of $18-$20 billion.
California has a GDP of $1.85 TRILLION and a deficit of abt $25-$30 billion and IT is called the economic basket case.

Thats exactly the point IRIS

No matter where the debt...do we have the resources, the taxes, the GDP to pay for it...

All countries can say the same thing...


Printing money is the easiest...and stupidest solution!

 

[WoodPeckr]

Guess what globalism has created millions of new jobs, just not in the union infested rustbelt of America. and Old Europe.
Now we have tragic levels of unemployed youth, trying to sustain a massive overhang of entitlements.

El Rushbloe has brainwashed you dittoheads good if you swallow that BS!

The American Dream only works when people and Corporations are paying their fair share like they USED TO before Globalism came along. Globalism allowed Corps to move offshore and abandon all American workers. This is so simple only a fool or someone who went to business school couldn't see....

Now the US is bankrupting JUST LIKE liberals predicted would happen.

 

[onthebottom]

To balance the US budget, all other programs than the military, homeland security and the veterans administration need to be completely eliminated.

Not that I buy that but then again I'm trying to think of a down side.....

OTB

 

[onthebottom]

I agree cutting the taxes hurts...when rich and corporations don;t pay.

But herein is the pickle...

You cut the taxes..so these Corporations can compete in the global economy..and the rich will continue to invest in N.America!!.,.

Without the lower taxes...who knows how MANY MORE companies would leave the USA to find workforces for cheaper in foreign lands.

We are in a real quandry!!!

There isn't enough intelligence on this thread to fill a shot glass but you should realize that a VAST majority of the taxes paid in the US are paid by the top 10%, the bottom half pay negative taxes (meaning they suck up more benefits then they pay in).... this fallacy that the rich are not paying their fair share is the banter of idiots.

OTB

 

[WoodPeckr]

...the bottom half pay negative taxes (meaning they suck up more benefits then they pay in).... this fallacy that the rich are not paying their fair share is the banter of idiots.

The bottom half used to pay, before your Globalism sent their jobs to those commies you pal around with!...

 

[FAST]

WRONG AGAIN Peckr

The bottom half used to pay, before your Globalism sent their jobs to those commies you pal around with!...

Actually unions sent jobs out of your, and my country.
If you new ANYTHING, you would know that the US could never have created its standard of living and survive if it could not sell goods/technology out of the US

Always glad to supply the facts, FAST

 

[Fozzie]

free market capitalism has not ended the middle class. sorry. entitlements, too expensive benefits like defined benefits pension plans, and dependance on government largess in return for votes has decimated the economy. you liberals are always focused on dividing the wealth, or redistributing the wealth, how about you get off your lazy ass and work to GROW the wealth. it doesnt have to be a race to the bottom.

if you believe that ANY government can allocate capital better than I can or the private sector can than you deserve your lot in life. I refuse to let your inherently small worldview drag me down. It is a wonderful world out there and NA has tremendous relative and absolute skills and knowledge to offer it.

There does not have to be a depression. But if we continue to focus on the govt as the be all, end all, then for sure we will have one as the government (US govt and traditional Europeans) have run our of policy bullets, monetary and fiscal. And their regulatory regime is killing domestic expansion. So i chose to work where my capital is wanted and rewarded. Im pretty sure that "producers" are doing the exact same thing.

Well said kratz!

Soon everyone will be asking "Who is John Galt"

 

[papasmerf]

The bottom half used to pay, before your Globalism sent their jobs to those commies you pal around with!...

Woody you have no idea as to how much I would like to see fair trade.

For you and your followers that means charging the same import tax for products as the exporters do.

Personally I say fix our home before we fix yours

 

[WoodPeckr]

Actually unions sent jobs out of your, and my country.
If you new ANYTHING, you would know that the US could never have created its standard of living and survive if it could not sell goods/technology out of the US

Always glad to supply the facts, FAST

LMAO!!!

Hey SLOW.....

The only peeps who believe that Corporatist crap are weak of mind lobotomized corporate eunuchs in management FFS!!!!....:biggrin1:

This is how they get you clueless Rubes to support their 'Race To The Bottom' polices Globalism makes possible.....SLOW!

 

[WoodPeckr]

There isn't enough intelligence on this thread to fill a shot glass

That's only if they listen to you bottie....:eyebrows:

 

[FAST]

Response

LMAO!!!

Hey SLOW.....

The only peeps who believe that Corporatist crap are weak of mind lobotomized corporate eunuchs in management FFS!!!!....:biggrin1:

This is how they get you clueless Rubes to support their 'Race To The Bottom' polices Globalism makes possible.....SLOW!

So Peckr, is that your most intelligent reply to the second sentence of my post, or don't you have the slightest understanding of economics.

Just wondering, FAST

 

[WoodPeckr]

So Peckr, is that your most intelligent reply to the second sentence of my post, or don't you have the slightest understanding of economics.

Just wondering, FAST

Sure do SLOW.....
Get my 101 Econ from fuzzy numbers expert bottie and his Prof.
They preach/teach Globalism will create millions of new high paying jobs to replace all them millions of jobs they sent to their commie pals in RED China that will easily allow the US to grow out of our crushing Debt......that is as long as our 'entitled' Haves and Have Mores get another well undeserved Tax Break!

What could go wrong SLOW.....

 

[oldjones]

Interesting how the thought-free right take the slightest mention of the need to spread the wealth around so more of it gets spent as government interfefernce, nationalization of capital, incentive destyroying handouts and all the other socaialist bogeymen they frighten each other with. Spending does drive the economy, especially consumer economies of which the US is the prime example. And people with moderate amounts of money need to spend just about all of it just to stay alive. No $6000 dollar shower curtains for them.

All the rich have to do is pay workers more. No socialists or governments needed, just enlightened self-interest.

Enlightened being the hard part. Look up Henry Ford and his doubling of workers wages. Worked for him. And made the car business the biggest in the world.

 

[FAST]

Clear now

Sure do SLOW.....
Get my 101 Econ from fuzzy numbers expert bottie and his Prof.
They preach/teach Globalism will create millions of new high paying jobs to replace all them millions of jobs they sent to their commie pals in RED China that will easily allow the US to grow out of our crushing Debt......that is as long as our 'entitled' Haves and Have Mores get another well undeserved Tax Break!

What could go wrong SLOW.....

Now I understand Peckr's problem, HE CAN'T READ.

Always glad to solve problems, FAST