Mr Neutron
Well-Known Member
[video]http://video.foxbusiness.com/v/1099840835001/why-we-are-broke/[/video]
Why Are We Broke?
- Thread starter Mr Neutron
- Start date
fox business.. haha..
you want to know why we are broke???
we aren't broke dipshit.
there are a lot of companies and individuals with a LOT of money. they're just putting it into the bank and not investing...
they use sickening academic lingo to disguise the fact that they're not letting go of all the cash they have because they don't want to. they simply enjoy having that much money and there is really nothing we can do about it because they know they have the people's only hope, the government, by the balls.....
easy as pie....
if the judge was right, then people would be fleeing treasury securities by the droves....
on the contrary, during yesterday's selloff investors went to one of the few safe places they knew to park their money.... US Treasury bonds....
i guess napolitano didn't read the memo.... it points the finger directly at partisan bickering and unwillingness to compromise as the big reason for the downgrade....
remember republicans got 98% of what they wanted..... boehner's words.....
you want to know why we are broke???
we aren't broke dipshit.
there are a lot of companies and individuals with a LOT of money. they're just putting it into the bank and not investing...
they use sickening academic lingo to disguise the fact that they're not letting go of all the cash they have because they don't want to. they simply enjoy having that much money and there is really nothing we can do about it because they know they have the people's only hope, the government, by the balls.....
easy as pie....
if the judge was right, then people would be fleeing treasury securities by the droves....
on the contrary, during yesterday's selloff investors went to one of the few safe places they knew to park their money.... US Treasury bonds....
i guess napolitano didn't read the memo.... it points the finger directly at partisan bickering and unwillingness to compromise as the big reason for the downgrade....
remember republicans got 98% of what they wanted..... boehner's words.....
undertheice
Well-Known Member
yup, there's lots of folks with money and they aren't the ones who are driving this country to the brink of insolvency. it is a free spending government, an entity that produces nothing but debt, that has overextended the nation and insists on spending more than it takes in. sure, the government can take the money that belongs to all those companies and individuals and it can force us all to pay for its incompetence. the violent force of government has that capacity, but not that right. our legislators, despite their conniving, don't have that right and the people, regardless of their whining or even their need, don't have that right.
BendBrewer
Well-Known Member
We were broke under Bush. I don't remember Fox News caring one bit about it then.
The Faux Outrage is amusing though. I like seeing people get their panties in a wad.
The Faux Outrage is amusing though. I like seeing people get their panties in a wad.
VTXDave
Well-Known Member
Well I most certainly remember the ceiling hikes prior to this administration. I was against them then as I am now. Under Bush, the Reps pushed and voted for the hikes...Now the shoe is on the other foot and they're screaming out against it. But of course, back then it was the Dems against the hike(s) and now they're for it...It's all a show people. I believe there's a speech Obama gave as Senator decrying the hikes and how the hikes do nothing to curtail spending.
5% Unemployment under Bush, and debt wasnt 100% of GDP, and we didnt have Obama spending trillions in the white house like it was his job.
ULMResearch
Active Member
We are broke because our gov't is a bunch of spineless pussies in the pockets of big business.
Per capita we are still in the top 5 or so of all countries in the world of overall wealth. It's just that 95% is in the hands of 5%.. the wrong 5%.
Per capita we are still in the top 5 or so of all countries in the world of overall wealth. It's just that 95% is in the hands of 5%.. the wrong 5%.
BendBrewer
Well-Known Member
I hope you aren't trying to say unemployment was 5% when Obama took office because that would be a lie. Rush told it yesterday.
The reason people bought US Treasuries is because the Fed has promised to keep the Interest rates at zero for the next 2 years.
In theory, if businesses and investors believe that short-term rates won't rise for at least two years, they would have more incentive to do something potentially more productive with their money than keep it in bank accounts earning nothing. That could include locking in higher yields on longer-term bonds.
That would allow big investors to borrow at cheap short-term rates and buy bonds, profiting from the spread between the cost of the loan and what they earn on the bonds.
BTW the "Memo" you refer to does not exist, S&P has CLEARLY stated that interparty bickering was NOT the reason for the downgrade.
you can spin it however you want. it doesn't change what it says. lol.... ignoring the facts as always i see...
they didn't say it was their math, i can guarantee you that. because they miscalculated by how much was it?? several trillion dollars?? do you know how many zeros??? nevermind... facts are never what's important... it's what the 'theory' says right??? lol....
hazyintentions
Well-Known Member
Are you pointing the finger at S&P?
That is just ridiculous, that company's job to to give accurate and unbiased rating to investors regarding where they out their money. Do you want them to play favorites all the sudden ? The United State of America is on a spending spree into oblivion. I remember the projected figure for government spending was to hit something like 26.8 trillion (in 13-14 years) AFTER this bogus "bi-partisan" deal which also created some sort of super committee. That is almost double of what the debt is right now! What kinda of rating would you give any country on a path like that?
Here's a graph of the last 10 fiscal years :
There is almost a decreased in spending up until 9/11. And there you see a definitely increased but it doesn't skyrocket, Then notice as Bush's terms are near an end GDP jump to almost 70% GDP! I Do not know what S&P didn't downgrade us then but I guess you say we have been grasping at straws as a nation. And after that it's old news, we are hovering at the 100% debt to GDP ratio.
Point here is obviously if a nation is spending more than it takes in year after year after year then of course we will loose credibility. You wouldn't expect to have a perfect credit score of you had racked up $75,000 in debt and only made $65,000 a year would you?
kindnugz
Active Member
The money that corporations and individuals are holding is profit that they already have payed tax on. They are holding that cash and not reinvesting it because they need to survive the coming public sector crash that is just beginning. I just dont understand why anyone would get mad at a corporation that is fiscally responsible and builds up a cash reserve to ensure that they can survive Obama's permanent recession and preserve the jobs of their employees.
It's inevitable that jealous morons in the government will try to loot the private sector cash reserves like the thugs in England are looting stores now that their handouts have dried up.
It's inevitable that jealous morons in the government will try to loot the private sector cash reserves like the thugs in England are looting stores now that their handouts have dried up.
BendBrewer
Well-Known Member
We are broke because George Bush projected a 5.6 Trillion Dollar Surplus and gave massive tax cuts to people who did not need them as a result of that false Projection. That mistake needs to be corrected.
It's that simple. Corporate America thrived under Clinton and those rates. You cannot deny it.
It's that simple. Corporate America thrived under Clinton and those rates. You cannot deny it.
I don't have to spin anything, I have read the entire S&P release several times, NOWHERE does it say they downgraded because of political infighting. Can you prove me wrong?
You must have George Bush confused with the Congressional Budget Office. One is a idiot, the other is a collection of idiots.
mccumcumber
Well-Known Member
We are broke because democrats and republicans have a stupid ass pissing contest against each other and cannot agree.
BendBrewer
Well-Known Member
Doesn't change the fact that the mistake needs to be corrected. No Surplus? No Bush Tax Cut.
You can get a surplus just by curtailing spending.
BendBrewer
Well-Known Member
Name some specific cuts that you think we can make without harming the economy and start adding up the amounts. I'm interested in what and how much you come up with. A lot has already been cut and more are scheduled. When you run out of things to cut, maybe you could consider returning to Clinton's Tax rates which helped the economy grow each of the 8 years Clinton was in office which was the longest period of economic growth in the history of the US.
Clinton's tax rates worked. The economy grew under them every year.
Clinton's tax rates worked. The economy grew under them every year.