IT'S OFFICIAL: The Whole World Thinks Republicans Are Dangerous Maniacs Threatening E

[Susan45]

IT'S OFFICIAL: The Whole World Thinks Republicans Are Dangerous Maniacs Threatening Everyone

Yes, the rest of the world is watching this embarrassing debt ceiling nonsense, and it is growing dismayed.

Der Spiegel has a roundup of commentary in German newspapers about the fight, and the universal message is this:

The US is holding the entire world hostage, and it's the Republicans that are playing with fire.

Read more: IT'S OFFICIAL: The Whole World Thinks Republicans Are Dangerous Maniacs Threatening Everyone

 

[California Girl]

Not one person gives a shit... other than a bunch of rather hysterical liberals.

 

[Mr. Peepers]

I doubt any of those on the right will read this. It uses too many big words like "profligacy" and "consequences".

 

[IHBF]

So fucking what?

 

[percysunshine]

The office of 'Vice Imperial Panic Mongering' releases numerous 'Official Statements' every day, as a normal course of business. It is what they get paid for.

 

[Susan45]

I doubt any of those on the right will read this. It uses too many big words like "profligacy" and "consequences".

I was fully aware of this when I posted it, but I do know that many lefties love to read and I thought they would enjoy it.

 

[Robert]

IT'S OFFICIAL: The Whole World Thinks Republicans Are Dangerous Maniacs Threatening Everyone

Yes, the rest of the world is watching this embarrassing debt ceiling nonsense, and it is growing dismayed.

Der Spiegel has a roundup of commentary in German newspapers about the fight, and the universal message is this:

The US is holding the entire world hostage, and it's the Republicans that are playing with fire.

Read more: IT'S OFFICIAL: The Whole World Thinks Republicans Are Dangerous Maniacs Threatening Everyone

Then the Whole World can step in and pay us back for helping them out all these years.

 

[IHBF]

fear!

 

[American Horse]

Nothing new about them getting what's happening here all wrong. Do any of them really think that a country the size of the US can go from Bush's highest annual defficit in 2008 of 438-billion to Obama's annual budget deficits of a 1.4-trillion annually, and think that is a good thing for the world economy? And the president completely refuses to cut spending from his new baseline, and the only constraint on his budget nightmares is the Republican's in congress.

 

[Baruch Menachem]

You just quoted the German newspapers. And you didn't even link to Speigel, but what a blog said Speigle said, which is not the same thing by a country mile.

I don't quite consider the Germans to be experts on sanity. They have a history.

As for what is going on here. This is the way we do things. It is like our national Opera. The French have Figaro, the Germans do the ring cycle, the Spanish like Carmen, the Italians like Tosca...... And us, we do Rigoletto..... the tragedy of clowns.

Speigel did a collection of quotes. Among which were:

We can only hope that the top politicians in Washington take Moody's warning seriously, despite the relaxed response from the financial markets so far. A US default and a lower credit rating would … send stock prices through the floor and could choke off America's economic recovery -- with global repercussions. The politicians in Washington are playing with fire. A swift compromise is needed. Nobody needs a US default."

from the Hot Dog times.


The World writes

While Europe's chaos is obvious to the Europeans and the rest of the world, there are few signs of self-doubt or self-awareness in the US. In the middle of the poker game between the two political parties to prevent a national default on Aug. 2, polls show that 77 percent of Americans believe that they live in the world's greatest system of government. Just as many are convinced that life is only worth living as an American."

"Democrats and Republicans are so hopelessly embroiled in a religious war that compromise and pragmatism are just dreams from a far-off era of reason. … The influence of the Tea Party movement … can not be overestimated. … The movement sees traditional politics as corrupt and regards Washington as a den of iniquity. … They see the other side as their enemy. Negotiations with the Democrats, whether it's about appointing a judge or the insolvency of the United States, are only successful if the enemy is defeated. Compromise, they feel, is a sign of weakness and cowardice."

Build says

Playing poker is part of politics, as is theatrical posturing. That's fair enough. But what America is currently exhibiting is the worst kind of absurd theatrics. And the whole world is being held hostage."
"Irrespective of what the correct fiscal and economic policy should be for the most powerful country on earth, it's simply not possible to stop taking on new debt overnight. Most importantly, the Republicans have turned a dispute over a technicality into a religious war, which no longer has any relation to a reasonable dispute between the elected government and the opposition."

"If it continues like this, the US will be bankrupt within a few days. It would cause a global shockwave like the one which followed the Lehman bankruptcy in 2008, which triggered the worst economic crisis since the war. Except it would be much worse than the Lehman bankruptcy. The political climate in the US has been poisoned to a degree that is hard for us (Germans) to imagine. But we should all fear the consequences."

The point of all these articles is that all of DC is to blame for the crisis, and we need to drag all these idiots out of kindergarten and demand they all behave like adults.

 

[Avorysuds]

Man this might blow up in Obama's face is all I can say... The Republicans will give Obama budget that Obam will either have to agree to or defualt on, not the Republicans...

 

[Susan45]

Nothing new about them getting what's happening here all wrong. Do any of them really think that a country the size of the US can go from Bush's highest annual defficit in 2008 of 438-billion to Obama's annual budget deficits of a 1.4-trillion annually, and think that is a good thing for the world economy? And the president completely refuses to cut spending from his new baseline, and the only constraint on his budget nightmares is the Republican's in congress.

You do not know what you are talking about.

Mr. Obama suggested in Thursday’s meeting that leaders end tax breaks for ethanol producers, oil and gas companies and corporate jet owners, and offset those tax increases with an extension of the payroll tax credit for employees, a Democratic official familiar with the meeting said, but Republicans said they would not support it.

This is fascinating. Obama was willing to trade needless tax subsidies, some of which even Republicans don’t like, for a separate tax cut that benefits private employers. This is, as of last week, exactly the kind of deal GOP leaders said they were inclined to support.

But when the president put it on the table, and set up the deal exactly as Republicans want it, they still said no. And remember, a payroll tax cut is the GOP’s preferred approach to job creation.

Political Animal - GOP rejects trading one tax cut for another

 

[Baruch Menachem]

A bablefish translation from LeMonde (The World) from Paris.

Beyond the debt problem is a political power struggle being played out for several weeks in Washington. The Republicans require that the American president is committed to reducing costs the federal government in exchange for raising the debt ceiling. Barack Obama has accepted this principle and was ready in early July to accept a plan to reduce the deficit of 4000 billion over ten years which included 3,000 billion 1000 budget cuts and billions of tax revenues. Unacceptable to the opposition, who will not hear talk of tax increases.

Eric Cantor of Virginia and elected the group's No. 2 Republican in the House of Representatives, became the herald of young elected officials supported the movement of the Tea Party , seeming at times to take the place of John Boehner, the chairman ("speaker") of the House. The latter came to Congress in January with the intention of reducing government spending and are ideologically opposed to any increase in tax burden. "It makes no sense to suffer more Americans with higher taxes in a economy like this, said Mr. Cantor, Friday, July 8. We will not increase taxes, do not have the votes to increase taxes here " , he further said, Monday, July 11.

Again, while they are placing the onus on the Republicans, they also recognize Obama needs to be a bit more adult.

 

[CrusaderFrank]

Obama threatened our Seniors by saying we don't have the money to send them their Social Security checks unless Congress gives into his demands! The scumbag murderer! people depend on that check for food! who the fuck is he to hold up that check? Senior paid in over their entire lives and now he's going to hold them hostage to his insane demands! That Obama is a criminal! If anyone dies from this Obama should be indicted! That criminal cocksucker!

 

[CrusaderFrank]

Oh wait, I have to fix it:

Bush made Obama threatened our Seniors by saying we don't have the money to send them their Social Security checks unless Congress gives into his demands! The scumbag murderer! people depend on that check for food! who the fuck is he to hold up that check? Senior paid in over their entire lives and now he's going to hold them hostage to his insane demands! That Bush is a criminal! If anyone dies from this Bush should be indicted! That criminal cocksucker! Fucking Boooooosh!

 

[Susan45]

You just quoted the German newspapers. And you didn't even link to Speigel, but what a blog said Speigle said, which is not the same thing by a country mile.

I don't quite consider the Germans to be experts on sanity. They have a history.

As for what is going on here. This is the way we do things. It is like our national Opera. The French have Figaro, the Germans do the ring cycle, the Spanish like Carmen, the Italians like Tosca...... And us, we do Rigoletto..... the tragedy of clowns.

Speigel did a collection of quotes. Among which were:

We can only hope that the top politicians in Washington take Moody's warning seriously, despite the relaxed response from the financial markets so far. A US default and a lower credit rating would … send stock prices through the floor and could choke off America's economic recovery -- with global repercussions. The politicians in Washington are playing with fire. A swift compromise is needed. Nobody needs a US default."

from the Hot Dog times.


The World writes

While Europe's chaos is obvious to the Europeans and the rest of the world, there are few signs of self-doubt or self-awareness in the US. In the middle of the poker game between the two political parties to prevent a national default on Aug. 2, polls show that 77 percent of Americans believe that they live in the world's greatest system of government. Just as many are convinced that life is only worth living as an American."

"Democrats and Republicans are so hopelessly embroiled in a religious war that compromise and pragmatism are just dreams from a far-off era of reason. … The influence of the Tea Party movement … can not be overestimated. … The movement sees traditional politics as corrupt and regards Washington as a den of iniquity. … They see the other side as their enemy. Negotiations with the Democrats, whether it's about appointing a judge or the insolvency of the United States, are only successful if the enemy is defeated. Compromise, they feel, is a sign of weakness and cowardice."

Build says

Playing poker is part of politics, as is theatrical posturing. That's fair enough. But what America is currently exhibiting is the worst kind of absurd theatrics. And the whole world is being held hostage."
"Irrespective of what the correct fiscal and economic policy should be for the most powerful country on earth, it's simply not possible to stop taking on new debt overnight. Most importantly, the Republicans have turned a dispute over a technicality into a religious war, which no longer has any relation to a reasonable dispute between the elected government and the opposition."

"If it continues like this, the US will be bankrupt within a few days. It would cause a global shockwave like the one which followed the Lehman bankruptcy in 2008, which triggered the worst economic crisis since the war. Except it would be much worse than the Lehman bankruptcy. The political climate in the US has been poisoned to a degree that is hard for us (Germans) to imagine. But we should all fear the consequences."

The point of all these articles is that all of DC is to blame for the crisis, and we need to drag all these idiots out of kindergarten and demand they all behave like adults.

Thank you very much for posting the link to Spiegel. Very interesting article at the site.

'The US Is Holding the Whole World Hostage'

With no solution to the US debt crisis in sight, the rest of the world is starting to get nervous. German commentators urge congressional leaders to get their act together. A US default would have catastrophic consequences, they warn.

Both Moody's and Standard & Poor's are threatening to downgrade the country's debt amid fears of a national insolvency. But for once it is not a debt-stricken euro-zone member that has come into the crosshairs of the powerful rating agencies. This time it is the United States, the world's largest economy, that is at risk of going bust .

The World from Berlin: 'The US Is Holding the Whole World Hostage' - SPIEGEL ONLINE - News - International

 

[American Horse]

Nothing new about them getting what's happening here all wrong. Do any of them really think that a country the size of the US can go from Bush's highest annual defficit in 2008 of 438-billion to Obama's annual budget deficits of a 1.4-trillion annually, and think that is a good thing for the world economy? And the president completely refuses to cut spending from his new baseline, and the only constraint on his budget nightmares is the Republican's in congress.

You do not know what you are talking about.

Mr. Obama suggested in Thursday’s meeting that leaders end tax breaks for ethanol producers, oil and gas companies and corporate jet owners, and offset those tax increases with an extension of the payroll tax credit for employees, a Democratic official familiar with the meeting said, but Republicans said they would not support it.

This is fascinating. Obama was willing to trade needless tax subsidies, some of which even Republicans don’t like, for a separate tax cut that benefits private employers. This is, as of last week, exactly the kind of deal GOP leaders said they were inclined to support.

But when the president put it on the table, and set up the deal exactly as Republicans want it, they still said no. And remember, a payroll tax cut is the GOP’s preferred approach to job creation.

Political Animal - GOP rejects trading one tax cut for another

Those cuts to so called tax subsidies, like disallowing depreciation of jets for their owners, will only hurt job prospects in the airline and supporting industry, disallowing tax breaks for oil companies will only effect some smaller companies, not the larger ones, again killing jobs, or ethanol, which by itself is miniscule, are all small to the point of meaninglessness. Worse than meaniingless, they will hurt job growth and the growth of the tax base that produces revenues into the treasury. That is why they only want to see and end to "tax loopholes" (tax expenditures) that result in overall lowering of corporate/business tax rates: job creation/more taxpayers/increased revenues.

Annual US expenditures above revenues in Obama's administration are 300 percent larger than the worse year under Bush, and the Republicans are trying to get reductions in those deficits that are larger than the tiny little reductions in tax expendures proposed by Obama that he and you have mentioned. The Republicans already had proposed taking away support for ethanol in earlier legislation. so that is doubly meaningless. Cuts in payroll taxes? Those only increase the size of the deficits, and they are only given to the employee, not the employers so those too are meaningless, both to the help they give to employers considering creating new jobs, and to the employee.

 

[Baruch Menachem]

I checked with Pravda and Japan Times. They aren't even covering the story. Jerusalem post has one paragraph.

A long story from Argumenti i Fakti from Moscow raises some interesting questions. Unfortunately, again, a bablefish translation, so it reads like a post from Mascale

"Nearing August 2 - the decisive date for the U.S., and hence for the world economy On this day, the U.S. Congress must make a final decision on limiting the amount of debt the U.S.. Recall the previous ceiling of 14.3 trillion. dollars has been made ​​in the spring, and now cover the budget deficit and huge public spending U.S. government have nothing. If you increase the external debt of U.S. will not be allowed, it would actually mean a default, which is afraid of fire as all the world powers. Although not completely believe in his ability, as recalled before Alexei Ulyukayev, the head of Russia's Central Bank . According to Ulyukayev, defaulted in the U.S. is simply impossible. - Probably, so it is: Americans will not cut the branch on which sit - agrees Mikhail Fedorov, analyst IK "RIC-Finance" . However, according to Fedorov, the main danger is not that the debt limit will be raised, and that this is the debt will remain untapped among international lenders. That's when the U.S. just nothing left but to declare bankruptcy. Counted - tears - Debt should be sold, and to do something that would help to bring capital into bonds, - says Mikhail Fedorov. - What good release paper, if no one buys? Here, for example, before 2008, the debt of the United States grew, new bond issues were sold around the world. Because U.S. Treasury bonds were considered a reliable investment, central banks of the world, just the banks and invest funds to buy the asset - continues to Fedorov. - China has developed as the largest factory of the world and do not use internally developed. Had a huge income, which sent in treasury bonds, and thus increased their dollar reserves. The crisis of 2008, much has changed - China changed the policy, there is now growing domestic consumption, that is basically money now goes to the country itself, rather than the rate of accumulation, and redundancy. Much the same happened with the financial policies of other countries. Thus, in 2008, the U.S. lost a huge part of the regular customers of its debt. At the same time the authorities increased costs, as well as the pace of issuing new debt. But in the 2008-2009 years it was not a problem because the raging crisis and deflation, the U.S. has successfully placed more debt, and successfully sold them to panicked investors, who thought it would save them from collapse of everything. And in the fall of 2010, the year in the United States launched a program QE2 - that is, the U.S. Federal Reserve (the analog of our Central Bank) to print new money and are buying U.S. government bonds. It turns out that the Fed has become the main buyer of new debt - summarizes the expert. But now there is no QE2, and run the printing press again the Fed has refused. Central banks of the world as well are reluctant to buy new securities USA, said Fedorov. There is no panic and the crowd institutional investors. - The question then arises: when even raise the limit on duty, who will buy it? According to the analyst, to avoid the economic collapse of America will help the next program or QE, or "fire somewhere outside the U.S.," which "have already tried unsuccessfully to arrange in the Arab world." Well, he defaulted - after which the country will face a hard recession, but then again the government can effectively stimulate the economy. " - сообщает сайт "Аргументов и Фактов" в статье Ïîñëå äåôîëòà íà÷í¸òñÿ âîéíà? ×åì íàì ãðîçèò áàíêðîòñòâî Àìåðèêè | â ðîññèè è â ìèðå - Äåíüãè - Àðãóìåíòû è Ôàêòû

 

[Susan45]

I checked with Pravda and Japan Times. They aren't even covering the story. Jerusalem post has one paragraph.

A long story from Argumenti i Fakti from Moscow raises some interesting questions. Unfortunately, again, a bablefish translation, so it reads like a post from Mascale

"Nearing August 2 - the decisive date for the U.S., and hence for the world economy On this day, the U.S. Congress must make a final decision on limiting the amount of debt the U.S.. Recall the previous ceiling of 14.3 trillion. dollars has been made ​​in the spring, and now cover the budget deficit and huge public spending U.S. government have nothing. If you increase the external debt of U.S. will not be allowed, it would actually mean a default, which is afraid of fire as all the world powers. Although not completely believe in his ability, as recalled before Alexei Ulyukayev, the head of Russia's Central Bank . According to Ulyukayev, defaulted in the U.S. is simply impossible. - Probably, so it is: Americans will not cut the branch on which sit - agrees Mikhail Fedorov, analyst IK "RIC-Finance" . However, according to Fedorov, the main danger is not that the debt limit will be raised, and that this is the debt will remain untapped among international lenders. That's when the U.S. just nothing left but to declare bankruptcy. Counted - tears - Debt should be sold, and to do something that would help to bring capital into bonds, - says Mikhail Fedorov. - What good release paper, if no one buys? Here, for example, before 2008, the debt of the United States grew, new bond issues were sold around the world. Because U.S. Treasury bonds were considered a reliable investment, central banks of the world, just the banks and invest funds to buy the asset - continues to Fedorov. - China has developed as the largest factory of the world and do not use internally developed. Had a huge income, which sent in treasury bonds, and thus increased their dollar reserves. The crisis of 2008, much has changed - China changed the policy, there is now growing domestic consumption, that is basically money now goes to the country itself, rather than the rate of accumulation, and redundancy. Much the same happened with the financial policies of other countries. Thus, in 2008, the U.S. lost a huge part of the regular customers of its debt. At the same time the authorities increased costs, as well as the pace of issuing new debt. But in the 2008-2009 years it was not a problem because the raging crisis and deflation, the U.S. has successfully placed more debt, and successfully sold them to panicked investors, who thought it would save them from collapse of everything. And in the fall of 2010, the year in the United States launched a program QE2 - that is, the U.S. Federal Reserve (the analog of our Central Bank) to print new money and are buying U.S. government bonds. It turns out that the Fed has become the main buyer of new debt - summarizes the expert. But now there is no QE2, and run the printing press again the Fed has refused. Central banks of the world as well are reluctant to buy new securities USA, said Fedorov. There is no panic and the crowd institutional investors. - The question then arises: when even raise the limit on duty, who will buy it? According to the analyst, to avoid the economic collapse of America will help the next program or QE, or "fire somewhere outside the U.S.," which "have already tried unsuccessfully to arrange in the Arab world." Well, he defaulted - after which the country will face a hard recession, but then again the government can effectively stimulate the economy. " - сообщает сайт "Аргументов и Фактов" в статье Ïîñëå äåôîëòà íà÷í¸òñÿ âîéíà? ×åì íàì ãðîçèò áàíêðîòñòâî Àìåðèêè | â ðîññèè è â ìèðå - Äåíüãè - Àðãóìåíòû è Ôàêòû

While I'm not sure about what you are doing here, it is kind of a fun exercise isn't it?

Asian markets slip after Moody's issues warning

TOKYO — Most Asian stock markets slipped after Moody's Investors Service threatened to lower the United States' credit rating, spreading ripples of caution across the region.

Japan's Nikkei 225 stock average finished down 0.3 per cent at 9,936.12. Exporters lost ground as the dollar weakened against the yen, which reduces the value of overseas profits when repatriated.

Hong Kong's Hang Seng lost 0.3 per cent at 21,868.52, and Australia's S&P/ASX 200 shed 0.5 per cent to 4,490.70.
Top Stories

Republicans Should Stop Playing With Fire On Debt Ceiling
Republicans Should Stop Playing With Fire On Debt Ceiling

I am finding it amazing that it does seem to me, that the world is watching us and we are acting like children.

 

[peach174]

Most of the rest of the world have adjusted their out of control social spending. They know that it's the Liberals here in the USA that don't want to cut the programs back.