Far Right, Tea Parties, Palin Cause Deaths and Woundings

Discussion in 'Politics' started by Annie, Jan 13, 2011.

  1. Annie
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    Annie Diamond Member

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    Let's talk about anything but rising gas prices and our economy:

    U.S. on the Way toward Losing AAA Credit Rating - By Kevin D. Williamson - The Corner - National Review Online

     
  2. Mr. Shaman
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    Mr. Shaman Senior Member

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    Gee....where was the Murdoch Street Journal, six-years-ago???!!!!!

    :eusa_eh:

    [​IMG]
     
  3. Talismen
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    Talismen Lady Templar & Kafir

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    Nasty stuff.

    It will continue to spin out of control, as long as the current fiscal policies are in place.
    And yes, I blame BOTH sides of the aisle for the onset of this mess.
     
  4. Flopper
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    Flopper Gold Member

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    This will be an interesting story to follow. When the financial fundamentals deteriorate for a private corporations or government, S&P and Moody's issue this type of warning. If the fundamental do not change, a credit watch will be issued which tells owners and potential buyers of US debt, that they are considering issuing a change in ratings within two years if the situation does not change. Usually a AAA rating is down graded to AA or A. For the private sector this is not usually earth shattering but for the US debt it is. Not only would the government suffer due to a rise in interest rates, but ever holder of US debt which means most banks throughout the US and world, most all large financial institutions, and most central banks would see the value of their holdings of US debt fall in value. In short this would bring on an international financial crisis, which is why I believe this will not occur.

    Even the issuing of a credit watch would shake the entire financial system. This would surely bring together both houses of Congress with legislation to cut spending and increase taxes. We would not be able to wipe out the deficit in one year, but we could certainly do enough to protect our AAA rating. Keep in mind the ratings of the US debt depends quite a bit on what other countries are doing.
     
  5. Annie
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    Annie Diamond Member

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    Indeed. As the post makes clear, there is no country, none, that could bail out the US. It's not Ireland, Greece, Spain, Eastern Bloc of former USSR, combined. Not bailable.
     
  6. Jackson
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    Jackson Gold Member Supporting Member

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    And blaming isn't useful at this point. Solutions are. It's time they get their big heads together and start working FOR the country and not for their party.

    Start having hearings with the top economic people on the planet. Not Geithner and his crew, it's out of their league. They should know that by now. Let the people hear through CSPAN and perhaps they will understand the problems we face so the silly vitriol will stop and we can learn about the real problems we face.
     
  7. Claudette
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    Claudette Gold Member

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    Ditto.
     
  8. JamesInFlorida
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    JamesInFlorida Senior Member

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    The blame game is all noise to distract Americans from the real issue: the economy. That's the only reason why Rodger Clemens is going to go on trial for lying about using steroids (which effects nobody), instead of you know-actually addressing important issues. It's ridiculous, but whatever keeps the American public's eyes off the gas pump and the economy I guess.
     
  9. PoliticalChic
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    PoliticalChic Diamond Member

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    "In new research Biggs, et al., analyzed the history of fiscal consolidations in 21 countries of the Organization for Economic Cooperation and Development over 37 years. If the United States were to copy past consolidations that succeeded, what would it do?
    This is an important question, because failed consolidations are more the rule than the exception:
    To be blunt, countries in fiscal trouble generally get there by making years of concessions to their left wing, and their fiscal consolidations tend to make too many as well.
    As a result, successful consolidations are rare: In only around one-fifth of cases do countries reduce their debt-to-GDP ratios by the relatively modest sum of 4.5 percentage points three years following the beginning of a consolidation.
    Finland from 1996 to 1998 and the United Kingdom in 1997 are two examples of successful consolidations.
    The data also clearly indicate that successful attempts to balance budgets rely almost entirely on reduced government expenditures, while unsuccessful ones rely heavily on tax increases. On average, the typical unsuccessful consolidation consisted of 53 percent tax increases and 47 percent spending cuts. By contrast, the typical successful fiscal consolidation consisted, on average, of 85 percent spending cuts."

    Biggs, Hassett and Jensen: The Right Way to Balance the Budget - WSJ.com

    BTW, I also believe that we should include 90% 'silly vitriol.'
     
  10. whitehall
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    whitehall Gold Member

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    Don't you Palin haters realize you are the problem? The dirty little secret is that the left never wastes a crisis or a tragedy. They rant about hate speech and the first thing they think of is more hate speech.
     

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