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US: Default Comedy Part 2
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  • "one bailout at a time."

    one day the debt will kill the States. one day dollar will lose its stand. that's correct... but the question is when. it might take a freaking long time. "the market can stay irrational longer than you can stay solvent."
  • Mr. Putin said : It is simply delay before real solutions. USA is just parasite.
    Use Google translate :-)

    Премьер-министр РФ Владимир Путин считает, что США злоупотребляют своим "монопольным долларовым положением", а нынешний компромисс конгресса по госдолгу лишь оттягивает неизбежные системные решения.

    "Слава богу, это (девальвация доллара) не произошло, у них хватило здравого смысла и ответственности", - сказал премьер, напомнив, что Демократической и Республиканской партиям США удалось договориться относительно последующих действий в экономике. "Но вообще-то ничего хорошего в этом нет, это просто отсрочка принятия более системных решений", - сказал В.Путин, выступая на форуме "Селигер-2011"

    При этом он заметил, что колоссальный объем задолженности американского бюджета говорит о том, что "страна живет в долг". "Это значит, страна живет не по средствам", - отметил председатель правительства РФ, добавив, что таким образом государство "в известной степени паразитирует на мировой экономике и своем монопольно долларовом положении".
  • All take away and divide :-)

    «—Да не согласен я.
    — С кем? Энгельсом или Каутским?
    — С обоими, — ответил Шариков.
    — Это замечательно, клянусь Богом. Всех, кто скажет, что другая... А что бы вы со своей стороны могли предложить?
    — Да что тут предлагать?.. А то пишут, пишут... конгресс, немцы какие-то... Голова пухнет. Взять всё, да и поделить...
    — Так я и думал, — воскликнул Филипп Филиппович, шлепнув ладонью по скатерти, — именно так и полагал».

  • @EOSHD
    > Solution is to split system up into smaller simple ones. When one fails it doesn't bring the others down with it or start a chain of chaos that effects the whole world.

    Sounds easy to say. What is your solution?
  • @svart

    right on man, just buy silver...hate to say it, but thats the ticket.
  • Default has been ongoing since we defaulted in 71 under the Bretton Woods agreement. Not converting dollars into Gold. But once again, history repeats itself as were on par with many great empires who've debased their currencies to the point where in just a few short years, the $1 menus at fast food joints will be the $3 and $4 menus. Hurting all those in america who haven't done there job as citizens because a flawed and dumbed down society who just wants more "entitlements" or "rights" as people have convinced themselves there one in the same.

    Corporatism rules in America. Yes the banks we bailed out are getting rich again, and the little guy gets fired and gets hammered with inflation. Roughly 9% since 2000, if you use the 1980's measurements.

    But on the other half of the globe its looking great. We fall due to poor work ethic, credit, and lack of savings. But India, China, Brazil are rising cause of hard work, savings and capitalism.
  • It seems that many confuse greed with capitalism.

    Capitalism works in theory, but human greed always trumps ideology.

    I'm a right-winger by nature. Does that make me want to screw someone over for cash? I live within my means, have NO debt, and I am saving for retirement at a good pace. I don't even believe in credit and debt yet I am a capitalist. Does that make me want to go out and start a company so I can fire people at will? How about the modern version of pillaging? No, and there are probably a whole lot more of us like this in the USA than you'd think by reading online articles and such. Just as the US media distorts things, you can bet your ass that other countries do the same thing with their media. I've been around and I've seen it first hand. It's just how things are. People want to hear that they are the best and others are shit. The news media wants to sell shit so they just go and tell people they are the best while complaining about the worst in everybody else.. The greedy news media distorting facts to sell the news.. Go figure.

    I watch folks binge and rack up huge debts through greedily wanting things they otherwise couldn't pay for. I watch greedy companies who raise credit card debt limits and then weeks later increase the interest rates after people consolidate their debts onto that card or into that account. I watch folks who cash out their retirement investments to buy stuff, or invest all their money into the stock market because they think they can make a lot of money quickly and then lose it all when rogues manipulate the market to serve themselves. I watch when people of the world complain about what should/could/would have been done to prevent all this, but they are all clearly blaming the wrong things.

    I understand all the USA bashing going on around the world where people who feel like underdogs are going to complain about everything the USA does but Ideology isn't a thing that can be blamed. You can't blame a concept. People can be blamed. People SHOULD be blamed. People have distorted every single social ideology in history. Kingdoms, Marxism, Leninism, Communism, Capitalism, Republics, Democracies, Castes, etc, etc. The truth is that everyone is to blame because greed is natural and it's instinctual.

    http://www.ted.com/talks/laurie_santos.html

    I'm not going to be one to say that anyone's opinions are wrong. Everybody has their viewpoint and should be heard equally. Yes, the US economy is fucked. Yes, the basis of the whole collapse is greed. Yes, the citizens of the US are to blame for letting this happen through ignorance and greed. Yes, this will happen again and again and again because our inept government is too worried about getting re-elected and cashing in and not about actually fixing anything, which would considerably cut their incomes. Some of us are actually trying to fix this stuff. The problem is just like everywhere else in the world, the nostalgia and resulting lament for what the government was and *should* have been is greater than what the government actually is and nobody wants to admit that it's broken but can be fixed, albeit at great expense in both time and money, not to mention that pretty much everybody in the government would lose their jobs.

    Our government has long since ceased serving the people and now the people serve it. Now go look at your governments and you'll see the exact same thing.
  • It is also important to understand that current deal had been made for purpose.
    Either we'll see actual default if something will went wrong soon or during second stage discussions or we'll see cuts in many important sectors and they'll be higher than declared, as current numbers are very low to get any result.
  • I know but look at the big picture. 30,000 people have lost their jobs because a corporation believes $11.5bn profit per annum isn't satisfactory.

    Coke want to double their sales in the next 5 years. Has anyone followed capitalism through to it's logical conclusion and realised the damage it does to our way of life? They enslave people in offices whilst raping the environment, and there is no end to the scale of it.

    Worryingly, human nature (or rather monkey nature) means people are more than happy to be enslaved by corporations as long as they get a nice pay cheque at the end of the month.
  • @EOSHD

    "HSBC made $11bn profit last year and $11.5bn profit this year. Result for staff? 30,000 fired. 10% of entire workforce dispensed with in drive to find $3-4bn more profit next year. That's capitalism at it's finest - 30,000 lives ruined because $11.5bn profit isn't quite enough."

    They sold their banks in the US. They didn't close them. They found that their banks in Asia are more profitable. The 11bn dollar figure is their worldwide profit.

  • >Capitalism was created to serve us

    Where did you got this strange thought?

    >Main problem at the moment is that private companies are growing too large and too powerful, as a result people are too dependant on them.

    It is not problem. It is solution as larger companies are more effective.
  • Capitalism is deeply flawed system.

    Like all systems with a high level of complexity you get chaos. It's entropy. You can't stop it.

    Solution is to split system up into smaller simple ones. When one fails it doesn't bring the others down with it or start a chain of chaos that effects the whole world. Like chopping the ropes on that cartoon above.

    Main problem at the moment is that private companies are growing too large and too powerful, as a result people are too dependant on them.

    The banks are already at Skynet levels of problematic evilness.

    HSBC made $11bn profit last year and $11.5bn profit this year. Result for staff? 30,000 fired. 10% of entire workforce dispensed with in drive to find $3-4bn more profit next year. That's capitalism at it's finest - 30,000 lives ruined because $11.5bn profit isn't quite enough.

    A complete lack of social responsibility or care for those responsible for the profits.... Us.

    Capitalism was created to serve us, instead we are serving 'it' to the benefit of fat men on yachts everywhere and to the misery of billions of normal people. In this system, normal people are essentially slaves.
  • Too Big not to Fail
  • @madact
    <<<<<They have the rights of a person but feel few of the consequences. If a 'natural person' knowingly risks another's life for financial gain, and it leads to a fatality, they're in big trouble. Same if they defraud a hundred people to make a fortune. Never seen a corp get sent away for 20-to-life, though... <<<<<<br />
    Correct, they don't get 20 to life, but they do get a government bailout.
  • >Never seen a corp get sent away for 20-to-life, though
    sounds like a good idea...
  • They have the rights of a person but feel few of the consequences. If a 'natural person' knowingly risks another's life for financial gain, and it leads to a fatality, they're in big trouble. Same if they defraud a hundred people to make a fortune. Never seen a corp get sent away for 20-to-life, though...
  • >And it's going to get worse since our Supreme Court thinks people and Corporations are the same thing.

    Wasn't that because of the Anti-Slavery act- which was used to justify that a Corporation is a Person?
    (there was a doco about this... can't wait for a serious doco to be made about this in 1 years time... so I can actually understand what is going on?! :-( (If we can still afford to make video then... maybe shot on the GH2?.... :D)

    On that note... maybe someone somewhere should work out how much money could be saved if all of Hollywood/Worldwide cinema / news/ everything was shot on GH2vk? I am guessing $Bln's!
  • @Vitaliy,
    <<<Sadly with same sponsors and owners :-) So, I call them "competing" idealogies. <<<<br />
    You got me there :(
    And it's going to get worse since our Supreme Court thinks people and Corporations are the same thing. They're so wrong, people are the things that serve corporations.
  • >We have two competing ideologies in America

    Sadly with same sponsors and owners :-) So, I call them "competing" idealogies.
  • @Vitaliy
    >>>Don't see any real point.
    I understand that it is easy to believe in fairy tales. You can see very good correlation to real life.>>>>
    The point is a single chart as an KISS explanation can be misleading.

    <<<<<As for this chart, it expains 100x more than all this who-is-reponsible-for-more-spending bullshit, made to distract average Joe.<<<<br />
    assigning Responsibilty for the deficit isn't just opium for the average Joe, the politics determine a lot of social policy used to address the problems. We have two competing ideologies in America with two totally different approaches -- one side thinks deregulation and lower taxes are the solution, the other side thinks infrastructure investment, more taxes, and managed capitalism is the way to go. It makes a difference which course the country takes. Figuring out what and who got America in this mess can point the way out.

    >>>As I already said, no good exit strategy can be made, any solution will lead to worse life.
    But best solution, most probably, will lead to terrible life in short term with quite acceptable life in the longer term>>>>>

    The way things look now, I agree 100%.
  • Pleased to hear that, sir.
  • @cosimo_bullo

    I am expressing my personal view that is based on facts and theories that I know.
    Nothing gleeful about it.
  • "As I already said, no good exit exist, any solution will lead to worse life."

    Maybe, but science, technology, and progress would argue... a good life is not always represented by dollars. Again, I wonder, why does your prognosis sound so gleeful. Axe to grind?
  • A lot more wishful thinking here, Vitaliy, but let's see where everything stands in a couple of years. I'll take our embarrassing mess of a government over most others... And very thankful to be surrounded by free minds who just might be able to continue to help.

    @EOSHD. Nice, post Andrew.