Re: Boehner walks away, gives up on debt negotiations with Obama (814390) | |
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Re: Boehner walks away, gives up on debt negotiations with Obama |
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Posted by chicagomotorman on Sat Jul 23 00:44:20 2011, in response to Boehner walks away, gives up on debt negotiations with Obama, posted by Chris R16/R2730 on Fri Jul 22 18:37:06 2011. Good for Boehner. He is standing up to obama. |
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Posted by chicagomotorman on Sat Jul 23 00:44:42 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by LuchAAA on Fri Jul 22 18:56:34 2011. Are you a rino? |
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Posted by chicagomotorman on Sat Jul 23 00:45:16 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by LuchAAA on Fri Jul 22 19:31:59 2011. You are a RINO. |
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Posted by SMAZ on Sat Jul 23 00:51:21 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SelkirkTMO on Sat Jul 23 00:12:14 2011. Sadly, so far we redid 1929. OK, that should have been enough of a warning. Now we're going to do 1931 again?This is far worse. Even during the depths of the Great Depression, the US always paid its debts. (and in gold-backed currency at that) Now we will default. BY CHOICE!! Nobody will escape. The subprime meltdown made many people rich in short-selling, etc. In this one, people who haven't already transferred their money to something else in other countries banks or treasuries will be toast. And they better hope that banks that go under in Switzerland (due to their exposure to US bonds) will have Switzerland's FDIC honor the accounts of foreigners and not "do an Iceland". yes, there is derivatives trading against US bonds, but that would be purely speculative since the Conventional Wisdom still says that a last-minute deal will be reached. I don't see any downside in moving money into euros, francs, yen, etc at this time. Their value has not appreciated much in the last couple of weeks meaning they are still a good buy should the unthinkable really happen. If a deal is reached, one can always recovert their money back into US$. Don't count on US money markets. They're going under too if we default. |
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Posted by SMAZ on Sat Jul 23 00:59:10 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 00:32:54 2011. You put too much importance into military power and projection.Germany and Japan have none and they prosper. Military power and projection is what destroyed Nazi Germany and later the USSR. Sweden came out pretty good every time. |
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Posted by SelkirkTMO on Sat Jul 23 01:03:06 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 00:32:54 2011. That's one of the things that worries me to no end. We've become so lazy and stupid, if the house of cards fall, WE will be the next Germany as of 1931. And you know how that ended. |
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Posted by LuchAAA on Sat Jul 23 01:04:32 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Fri Jul 22 21:40:12 2011. to me top earners are the tens of thousands in each NE city earning $250k-$millionlink proves cap gains should increase. thanks |
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Posted by SelkirkTMO on Sat Jul 23 01:07:45 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 00:35:15 2011. If we increase it to five, then the cycle will become five. The electorate has become every bit as stupid as investors. NOTHING shows a result in a single quarter, and government can't do anything if the next cycle begins in two days. Meanwhile, we're up against the Chinese and others who are ABLE to set long term goals.That's precisely what's wrong here. Once upon a time, taking the first step onto a task that would take 20 years to accomplish was permitted. Not anymore. :( |
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Posted by SelkirkTMO on Sat Jul 23 01:14:29 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 00:40:29 2011. Many were willing to finance those notes to get our "global engine" going again on ten year payoffs. Yes the debt is an issue, but we've been rolling over and retiring previous debt that carried some pretty hefty interest rates for much lower rates. Of course, our "loyal opposition" didn't want to mention any of that. Economists such as Krugman and others have repeatedly tried to tell us that the actual cost of the spending now it much lower than it would have been in better times.Perhaps the BIGGEST problem to our future though is the unwillingness of Americans to SAVE, to BUY bonds and owe only ourselves. There was no better time in our history for us to do a proper stimulus, but the banks don't WANT us to. They're happy to starve us now and make us pay double digits later. And we WILL. Same game they played on mortgages is the next bubble - government debt. And guess who gets screwed? Again. |
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Posted by SelkirkTMO on Sat Jul 23 01:16:47 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by chicagomotorman on Sat Jul 23 00:44:20 2011. And you'll be among the first out of work when the federal money for CTA goes away and Chicago croaks. Enjoy your "win" ... |
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Posted by SelkirkTMO on Sat Jul 23 01:25:44 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 00:51:21 2011. Already moved out of dollars on Wednesday and cleared all of our debts to ZERO. Everything is paid off as of Wednesday. We're clear. Surprise in the mail today from the New York State Retirement System. I was eligible to start collecting my full pension upon reaching age 62. Suddenly today, there are now penalties for collecting under age 70!!! :(WTF? :( Thanks Prince Andrew and GOP. Aside from that though, we cool. We're ready to sit back and watch republicans get their Boehner on. ![]() |
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Posted by SelkirkTMO on Sat Jul 23 01:27:55 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 00:59:10 2011. And now ... OUR turn. Bill is due and all we have is pocket lint. :( |
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Posted by SMAZ on Sat Jul 23 01:58:48 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SelkirkTMO on Sat Jul 23 01:25:44 2011. Your situation is particularly interesting since if everything works as planned a lot of the clientele will be from non-dollar countries anyway and your business is practically recession-proof.If anything you may even have greater demand for your services when we go all Somalia and Zimbabwe at the same time (another first). Payments for the services you provide can be deposited in any bank anywhere and in any kind of currency. a dollar worth shit actually makes your services more affordable to foreign clients. It'll be like going back to the gold standard. I hope Chris GP38 will not mind using $500 coins for that candy bar though. We can put the Orange Weeping Man's likeness on it. |
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Posted by AEM-7AC #901 on Sat Jul 23 02:15:04 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 00:59:10 2011. Germany and Japan have none and they prosper.One could make an argument that they're effectively free-riding on our military resources, and that by default, we're basically the reseve units of the Bundeswehr, and the de facto replacement of the Japanese Imperial Navy. Unlike Nazi Germany and the USSR, we're not seeking global domination, but our presence basically serves to keep things relatively stable around the world. FWIW, as a joke, I've argued that the Chinese lend us money so that we can send out our Navy to patrol the seas until they figure out how to have a blue water naval force too. |
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Posted by AEM-7AC #901 on Sat Jul 23 02:17:41 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 01:58:48 2011. your business is practically recession-proofYou're presuming that there will still be foreign demand for his product in the first place. Nobody needs to buy new computing equipment when there's no demand for their enterprise due to a massive global depression. I hope Chris GP38 will not mind using $500 coins for that candy bar though. I suspect he'll be far more concerned about the $10/gal gasoline. |
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Posted by SelkirkTMO on Sat Jul 23 02:20:18 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 01:58:48 2011. Only investors we're seeing are in China anyway. They're going to steal our stuff anyway, might as well get paid too. :)But I seriously look forward to Wall Street on Monday. Lotta butthurt to go 'round. Heh. They TRIED to warn these weasels as to what was going to happen if this weekend passed without ... and did they listen? Knew they wouldn't. FAA is already down, Can't blame libruls much longer. |
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Posted by AEM-7AC #901 on Sat Jul 23 02:21:03 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SelkirkTMO on Sat Jul 23 01:07:45 2011. taking the first step onto a task that would take 20 years to accomplish was permittedWe have quad-core Core I5 processors now. We expect that level of speed from everything including our investments. :-) we're up against the Chinese and others who are ABLE to set long term goals. It's not so much that they're better at long-term planning. They're better at cheating. You can do anything when you have a state bank that will make loans because you put a gun to their heads, and prevent average people from investing their cash overseas. Everybody else just has better bureaucrats. :-) |
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Posted by SelkirkTMO on Sat Jul 23 02:22:20 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:15:04 2011. And why shouldn't the EU ride on the Ologs of the world? After all, if we're going to do the shooting, who else needs to bother? And as to "global domination" our banks were doing the military-style stuff. "Business is war" ... unfortunately, we put weasels on the front line and they eated themselves. And us with them. |
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Posted by AEM-7AC #901 on Sat Jul 23 02:27:50 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SelkirkTMO on Sat Jul 23 01:14:29 2011. to BUY bonds and owe only ourselvesAhh yes, the Japanese trick. :-) FWIW, I suspect it's something that's never really appealed to most people, and besides, why aim for 4.60% rates on I bonds when you can go play with gold? It's just far less sexy as an investment when compared to the stock market, you don't get the satisfaction of seeing dividends checks, and you don't get the liquidity of a bank account. And if you're paranoid, you actually do worry about the Feds actually paying back. At least you can buy 'em online now. :-) |
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Posted by SMAZ on Sat Jul 23 02:29:46 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:17:41 2011. You're presuming that there will still be foreign demand for his product in the first place. Nobody needs to buy new computing equipment when there's no demand for their enterprise due to a massive global depression.Do you rush to buy home alarm systems when crime goes up or when crime goes down? That's what KNOS is. |
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Posted by SelkirkTMO on Sat Jul 23 02:30:00 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:17:41 2011. Not a problem. Look up "Kylin operating system" in China. They've failed to get anything but Linux going for the Chinese military. They WANTED to do BSD, but never got it together. We did. And THEY have money. America can have it too, it's built here. But the only investors there are are in China. |
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Posted by AEM-7AC #901 on Sat Jul 23 02:31:22 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 02:29:46 2011. That's what KNOS is.Why should I pay Selkirk when everybody is going to pirate Windows or download a Linux distro and have some kid set up for pennies? :-) |
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Posted by SelkirkTMO on Sat Jul 23 02:33:20 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:21:03 2011. No, it's a philosophy. They've always had patience on their side unlike here. And just so's you know, hex core and octal core are where it's at now and the whole Intel thing is played. The happening thing outside the US is the new RISC-style CPU's and ARM on the phones. We already went there and were ready for it. Google "longsoon CPU" and then let me know what you think of Intel and AMD.Treadmills are a bad place for a nation to live. |
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Posted by SelkirkTMO on Sat Jul 23 02:38:26 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:27:50 2011. That's how America managed to survive the LAST depression with republicans being as stupid as they are today. All bets are off with THESE assclowns. :(And watch gold crash. Ever wonder why the hucksters are pumping it so hard. Google "pump and dump." Are you aware of what the Japanese found last month on the floor of the Pacific outside the US territorial waters around Hawaii? Heh. |
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Posted by SMAZ on Sat Jul 23 02:39:56 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:15:04 2011. FWIW, as a joke, I've argued that the Chinese lend us money so that we can send out our Navy to patrol the seas until they figure out how to have a blue water naval force too.That's not a joke. That's actually the TRUTH!! |
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Posted by SelkirkTMO on Sat Jul 23 02:40:04 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:31:22 2011. Good point. Enjoy the backdoors built into all those. I know what I wrote. And pirating? Well ... when you sell enough copies, you don't worry about that so much. We have our own ways of screwing with pirates. :) |
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Posted by SelkirkTMO on Sat Jul 23 02:42:10 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 02:29:46 2011. I'd say on that theory alone we're already ahead of that curve. With the attention span of GenX and antivirus labs now in Ukraine, Latvia, Philippines, Turkey, and China deciding on what gets detected and what doesn't, we're already there. That's the reason why the last time I booted winblows for anything was in 2007 once I saw what was going on with my employer. And when I found out from the lab people that it was just as bad elsewhere, that sold me. :) |
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Posted by AEM-7AC #901 on Sat Jul 23 02:43:11 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SelkirkTMO on Sat Jul 23 02:38:26 2011. And watch gold crash. Ever wonder why the hucksters are pumping it so hard. Google "pump and dump."I know of a few gold bugs on some of the blogs that I read, and they seem to be immune to the idea that it could be a massive pump & dump. They're betting on gold hoping that it will save them from the massive inflation as they trade their gold assets in the future for future "inflated" dollars, but that's presuming that the tools on Zero Hedge aren't fronts for hedge funds and speculators. Some how in their world, there's all sorts of manipulations except in the gold and silver markets... Are you aware of what the Japanese found last month on the floor of the Pacific outside the US territorial waters around Hawaii? Heh. Black liquid gold? :-) |
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Posted by SelkirkTMO on Sat Jul 23 02:46:08 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:43:11 2011. REAL gold. But even more significant, more "rare earth metals" than we can use in the next four hundred years. And while we're pumping and dumping oil futures, the Chinese vacuum boats are already on their way there. It's international waters after all. :(But we can still live on worthless paper. I find it amusing when the "diamond rush" was going strong some 20-30 years ago how suddenly Russia flooded the market with theirs which was SO much higher quality than anything DeBeers was selling. :) |
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Posted by AEM-7AC #901 on Sat Jul 23 02:48:29 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 02:39:56 2011. That's not a joke.That's actually the TRUTH!! It's cheaper to get us to have a chunk of metal with guns and planes in the ocean than to pay the full cost of building an infrastructure to support that chunk of metal and the chunk of metal itself... |
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Posted by SelkirkTMO on Sat Jul 23 02:49:51 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SelkirkTMO on Sat Jul 23 02:46:08 2011. And oh yeah ... the Hunt Brothers under Reagan pumping and dumping silver futures right before the Bloivians and Chileans flooded the market with theirs. Of course, they had no idea that was coming. Heh.Yep ... vote republican. :) |
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Posted by SMAZ on Sat Jul 23 02:51:13 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:27:50 2011. Ahh yes, the Japanese trick. :-)It's the Italian trick too. The problem with Italy is that they still suffer from their 80's reputation when they used to devalue their old lira all the time which led them to be put in the dubious "PIIGS" club.. This of course led to 20% interest rates during that time and they are still paying off those bonds even now. The good part is that they are getting rolled over into lower interest euro-denominated bonds. The bad news is that at 130% of GDP, debt payments are heavy and take away from otherwise spending on domestic investments and lower tax rates at home to make the economy grow more. The good news is that their deficit this year is only 4% of GDP and dropping and they should have a balanced budget in 2013 or '14. Massive tax evasion and corruption has always held Italy back but their finances are actually pretty good and like Japan, most of their debt is domestically owned and less subject to speculative attack. Their banks are also solid. I wanted to laugh at the attack on Italian bonds a couple of weeks ago. Whoever bought those 10 year notes at almost 6% made a good deal. |
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Posted by GP38/R42 Chris on Sat Jul 23 03:06:18 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by LuchAAA on Fri Jul 22 19:31:59 2011. I think Obama sounds like an idiot talking about "radio show hosts" in his statement after talks broke down.The man needs to lead, and all he can do is worry about TV and talk radio. |
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Posted by SelkirkTMO on Sat Jul 23 03:08:34 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by GP38/R42 Chris on Sat Jul 23 03:06:18 2011. He did ... now I hope you understand that I am neither impressed with Obama nor did I vote for him, but it was Boner that had the shitfit and refused to compromise because his FOX teabaggers turned him into a pussy. But he had a 3.5 TRILLION dollar deficit reduction deal that he abandoned. If you weren't so partisan, you would be pissed too. |
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Posted by Olog-hai on Sat Jul 23 03:13:38 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by GP38/R42 Chris on Sat Jul 23 03:06:18 2011. I'd like him to speak against an actual US enemy for once, and not alienate allies nor throw them under the bus. |
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Posted by SelkirkTMO on Sat Jul 23 03:15:11 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by Olog-hai on Sat Jul 23 03:13:38 2011. He doesn't have any time for you. |
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Posted by SMAZ on Sat Jul 23 03:16:15 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 02:31:22 2011. Waiting for that kid to come up with a cheap knockoff ain't gonna save you from getting cleaned out by some other kid today.Any serious business buys the best. The extra cost upfront is nothing when compared with the safety and lower associated costs instead of having your IT employees go crazy chasing the latest bug and having to turn off the computers or having to hire some outside firm to do it. That all eats into productivity and company reputation. A good security system also lowers insurance and "bonding" costs. |
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Posted by AEM-7AC #901 on Sat Jul 23 03:21:33 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 02:51:13 2011. I wanted to laugh at the attack on Italian bonds a couple of weeks ago.As others may have noted, everybody is freaking out about the PIIGS ability to pay back their loans. Mind you, Ireland is technically solvent, and had it pulled an Iceland, it may have escaped like Iceland did*. Spain is spooky because of the fact that nearly a two-tenths of the population is out of work, while Portugal and Italy have had anemic growth which leads some to wonder if there's any room for them to pay their debts in the future given future entitlements. And Greece is pretty much Sicily without the North to subsidize it, and even worse supporting economics. A few people have argued that most Western nations will simply never be able to do anything other than service their debt in limited cases, and that even Germany will default in the long-term. *Although, some would argue that would simply lead to a collapse of the Euro and the banking system once people would actually have to pay out on the various CDSes out there... |
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Posted by SelkirkTMO on Sat Jul 23 03:24:00 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SMAZ on Sat Jul 23 03:16:15 2011. $35 for a single copy that comes with all the software you need as well is hardly "extra cost." Not to mention bulk discounts. It's a winner, ESPECIALLY in "these times." :)Price a Mac if you want to do video editing, all the "shooping" you can stand and even hide your torrents too. Compare to Billyware. Heh. Whole computer, nothing else to buy. We even do customs for a fee, anything you want. Customs can even run Windows and Linux stuff. |
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Posted by SelkirkTMO on Sat Jul 23 03:25:35 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 03:21:33 2011. All of this drama is the result of banks being butthurt at not making their double digits anymore. The faster they can put everything in the shitter, the more they think they can make now that Bush PROVED that no matter what they lose at the craps table, they're covered for their bet. :( |
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Posted by GP38/R42 Chris on Sat Jul 23 03:39:59 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by SelkirkTMO on Sat Jul 23 03:08:34 2011. Both parties suck, and I have said that PLENTY of times here. But only one man is our "leader", and that's Obama. And note, "leader" in quotes, as unfortunately, he hasn't a clue how to take control and lead. |
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Posted by GP38/R42 Chris on Sat Jul 23 03:42:35 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by Train Dude on Fri Jul 22 19:46:02 2011. Obama does "fine" (fine being a relative word) when everyone agrees with him. For two years, he did "fine" because there was no need to consider, or work with opposing view. Once there's opposing viewpoint that "gets in the way", he can't handle it. His lack of leadership in this is pathetic. |
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Posted by SelkirkTMO on Sat Jul 23 03:44:31 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by GP38/R42 Chris on Sat Jul 23 03:39:59 2011. Uh yeah ... let's see how that all works out next week, huh? |
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Posted by GP38/R42 Chris on Sat Jul 23 03:45:14 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 00:35:15 2011. All either side in this mess is looking at is the next election, and it's ridiculous. We have been in perpetual campaign mode (on both sides) since 2007. That's a long time to only be campaigning for the next election, and not getting what they are in Washington for done. |
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Posted by SelkirkTMO on Sat Jul 23 03:45:41 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by GP38/R42 Chris on Sat Jul 23 03:42:35 2011. And that "opposing view" is about to catch up with y'all. Enjoy your tax cut. |
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Posted by SelkirkTMO on Sat Jul 23 03:47:06 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by GP38/R42 Chris on Sat Jul 23 03:45:14 2011. And the teabaggers get to eat their "principles" while America burns. Great job, kids ... Rupert's not going to go hungry. |
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Re: Boehner walks away, gives up on debt negotiations with Obama |
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Posted by Olog-hai on Sat Jul 23 03:56:35 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by GP38/R42 Chris on Sat Jul 23 03:39:59 2011. He should try prayer. |
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Re: Boehner walks away, gives up on debt negotiations with Obama |
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Posted by SMAZ on Sat Jul 23 03:57:38 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by AEM-7AC #901 on Sat Jul 23 03:21:33 2011. Mind you, Ireland is technically solvent, and had it pulled an Iceland, it may have escaped like Iceland did*.Ireland would have had to probably come off the euro to pull an Iceland. Spain is spooky because of the fact that nearly a two-tenths of the population is out of work, I agree that Spain is spooky. That would be a real cataclysm if they are unable to pay. Their banks are also very weak. Their unemployment rate is not much different than ours. Ours is 16.2% when measured by the same standards. Italy have had anemic growth which leads some to wonder if there's any room for them to pay their debts in the future given future entitlements. There is plenty of room for cuts. They just raised their retirement age to almost 70 and pegged it with life expectancy and pared back the maximum pensions which can run into the 100s of thousands of euros per year for the rich. One can still retire at 62 if they payed 40 full years of SS contributions of a certain amount. They've got an old population and a sclerotic political system. The bill is due. That's their biggest obstacle to growth. They are Europe's Japan. As for future cuts, their universal health care and assisted home care system has always been largely spared. It's their crown jewel and in an otherwise dysfunctional country it is truly a masterpiece they they take care of. I think the Italian government may be underestimating how much the recent cuts will eat into future growth. Either way, they don't really have a current deficit problem. They have a past debts problem. Your example of Greece and Sicily is what I always tell Italian Southerners when they bring up the North or the euro. Greece is a basket case. They did an Enron. Unforgivable. once people would actually have to pay out on the various CDSes out there... As for the CDS, the money is simply not there. Never was. It's all a bunch of AIGs out there. It's a joke. You seem to have a decent understanding of this stuff. Join the USAF or USAFR or ANG and become a finance specialist. Then get out and go work on Wall Street or for the SEC or the Fed. |
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Re: Boehner walks away, gives up on debt negotiations with Obama |
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Posted by SelkirkTMO on Sat Jul 23 04:03:50 2011, in response to Re: Boehner walks away, gives up on debt negotiations with Obama, posted by Olog-hai on Sat Jul 23 03:56:35 2011. Yes indeed. Tried prayer, they were answered. YMMV. :) |
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Re: Boehner walks away, gives up on debt negotiations with Obama |
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Posted by Fred G on Sat Jul 23 07:46:03 2011, in response to Boehner walks away, gives up on debt negotiations with Obama, posted by Chris R16/R2730 on Fri Jul 22 18:37:06 2011. He's had enough of what? The way government is supposed to work? It's by consensus, not winner take all. He turned down trillions in deficit reduction.your pal, Fred |
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