Re: US '13 days from financial disaster'

[QUOTE][B]US President Barack Obama has signed an emergency austerity bill that averted a devastating debt default, but warned the contentious plan was "just the first step'' on a long road to economic recovery.

[/B] "It's an important first step to ensuring that, as a nation, we live within our means,'' Obama said in the White House Rose Garden after polarised lawmakers sent him the legislation. "This is, however, just the first step.'' The measure lifts cash-strapped Washington's $US14.3 trillion debt limit by up to $US2.4 trillion while cutting at least $US2.1 trillion in government spending over 10 years, a step forecast to drag down already sluggish US growth. [/QUOTE]

[QUOTE]Despite such wrenching worries, major US companies like 3M, Caterpillar, Goodyear, Microsoft, and Apple have been packing away record profits.

Moreover, if the current trend keeps up, the S&P 500 companies are poised to have their most profitable quarter ever, according to Standard & Poor's analyst Howard Silverblatt, who marvelled at the ``amazing numbers.''

Obama signalled that he would campaign for raising tax revenue on the rich and wealthy corporations, a proposal that has already generated lockstep opposition from Republicans who contend it would smother job creation. "I've said it before, I will say it again: We can't balance the budget on the backs of the very people who have borne the biggest brunt of this recession,'' he said. "Everyone's going to have to chip in. That's only fair.''

[/QUOTE]

[url]http://www.theaustralian.com.au/news/world/obama-signs-debt-raising-bill/story-e6frg6so-1226107145461[/url]

What a load of shit.

Re: US '13 days from financial disaster'

[QUOTE=Illuminate;978903][URL]http://www.theaustralian.com.au/news/world/obama-signs-debt-raising-bill/story-e6frg6so-1226107145461[/URL]

What a load of shit.[/QUOTE]

just to be clear...is it shit that obama wants the companies to contribute more or that they are raking it in while everyone is suffering?

Re: US '13 days from financial disaster'

Apple has more cash then the US government . [URL]http://digital-9.com/tech-news/apple-now-has-more-cash-on-hand-than-the-us-government/[/URL]

Imho , It's shit that they are raking it in !! I saw Paul Wolfowitz interviewed late night. It was sickening .He claimed the problem was welfare and specifically said it was not any of the wars the US is involved in. :shock: I just find it astounding that supposedly reasonable people could possibly think it was a good thing to cut welfare but not tax breaks for the rich.

[URL]http://www.abc.net.au/7.30/content/2011/s3284630.htm[/URL]

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^Its because all of those assholes who say that are in the pockets of the rich. Until money is removed from politics this shit is never going to stop. So basically it is never going to stop, which sucks.

Re: US '13 days from financial disaster'

[QUOTE=res0nat0r;979023]^Its because all of those assholes who say that are in the pockets of the rich. Until money is removed from politics this shit is never going to stop. So basically it is never going to stop, which sucks.[/QUOTE]

I think the corruption of the companies enforces money to be trickled down politicians fat back pockets. Which is why governments today are under strings. Obama to a certain degree is trying to enforce minutiae changes, but I'm yet to see drastic actions.
After the so called G.F.C the corporations have had the upper hand.

Just look at these numbers: [url]http://money.cnn.com/galleries/2011/fortune/1104/gallery.fortune500_most_profitable.fortune/index.html[/url]

Re: US '13 days from financial disaster'

The documentary over the fall of Eliot Spitzer had a good quote from someone related to this. It is that gov't isn't setup to make big changes; it isn't possible, only small incremental change is ever going to happen. So anyone who says they are going to make sweeping changes is in for a reality check unfortunately. There are too many people in too many pockets to ever let anything really change the way it works now.

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[QUOTE=Garrick;974141]maybe something like this needs to happen... fuck our govt. i'm sick of both parties.[/QUOTE]

Agree 100%

Re: US '13 days from financial disaster'

[QUOTE=stephen028;974407]According to Mitch McConnell, the number one priority for the republican party is making sure Obama does not get a 2nd term.. Obamas second term rests entirely on the progress he makes with the economy. Connect the dots. The success of the republicans is the failure of our economy. Plus their constituents get richer in the mean-time. Win-win.[/QUOTE]

Spot on man!!!

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I would love to be shown a real-world example where someone spent their way into prosperity.

Also, lobby reform would go a long way in fixing some of the intermarriage of the govt. and corporations.

And Paul Wolfowitz was definitely not being honest by making such neocon claims about the costly wars...but that doesn't change the fact that entitlement programs are the biggest siphoning agent of public funds.

Re: US '13 days from financial disaster'

[QUOTE=vinnie97;979350]I would love to be shown a real-world example where someone spent their way into prosperity.
[/QUOTE]

How about the whole western world? Just about the whole world is based on credit availability and the reason our societies work and "prosper" [U]IS [/U]credit i.e. spending into prosperity. . .do you live in Cuba by any chance?

Re: US '13 days from financial disaster'

s&p downgrades us aaa rating

[URL="http://money.cnn.com/2011/08/05/news/economy/downgrade_rumors/index.htm?iref=BN1&hpt=hp_t1"]http://money.cnn.com/2011/08/05/news/economy/downgrade_rumors/index.htm?iref=BN1&hpt=hp_t1

[/URL]

good job dumbass congress.

Re: US '13 days from financial disaster'

[url]http://www.thedailybeast.com/articles/2011/07/29/republicans-on-the-debt-ceiling-screwing-over-america.print.html[/url]

[quote] How Republicans Screwed the Pooch

Republicans say they want to save the country from Obama’s reckless spending. But as Paul Begala argues, it’s the GOP’s policies that have driven the nation into the ground. [/quote]

This is pretty relevant right now...

Re: US '13 days from financial disaster'

Funny how not one party can take [url="http://www.mercuryserver.com/forums/djdb.php?id=969"]blame[/url] for their actions.... it's always the other parties fault. Now it's... who's more at fault?

Both parties have fucked up; big time. The sooner they both realize this, the sooner we can start to dig ourselves out of this mess.

I'm going to guess that's never going to happen though. Very, very sad time for true, hard working Americans.

Re: US '13 days from financial disaster'

^yup....its always going to be finger pointing forever....keeps anyone for taking any direct [url="http://www.mercuryserver.com/forums/djdb.php?id=969"]blame[/url] and losing their job.

Re: US '13 days from financial disaster'

^^ I keep clicking on Blame to see what people are linking to :lol: Dj!! :lol: [QUOTE=vinnie97;979350]I would love to be shown a real-world example where someone spent their way into prosperity.

Also, lobby reform would go a long way in fixing some of the intermarriage of the govt. and corporations.

And Paul Wolfowitz was definitely not being honest by making such neocon claims about the costly wars...but that doesn't change the fact that entitlement programs are the biggest siphoning agent of public funds.[/QUOTE] Entitlement programs ??? :lol: Change the names so it's not seen help for poor and the sick . Right :lol: If they are the biggest spend perhaps it should be asked, how did that happen ??? Why are so many americans in need of help ??

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Yes, Didi, ENTITLEMENT programs where generation after generation continues to take advantage of endless handouts, popping out children just to maximize their take. Why don't you ask that question about Detroit, another liberal utopia (I'll admit, not a completely fair example since both parties introduced international trade agreements that gutted the place)? Also, this healthcare "reform" bill, passed just last year, when all of this was looming overhead and $4 trillion in spending by the current administration has only exacerbated conditions.

What did people expect to happen? Yes, Wall Street was a catalyst in 2008 and yes, govt. mandating home loans for the poor (because everybody deserves to own a home whether they can afford it or not, Marx told me so) plus unbridled greed resulted in the nastiest bubble of toxic debt this country has ever seen. Due to that govt/bank/Wall Street marriage, that debt became public debt.

Anyway, welfare abuse is all gonna' come to a screeching halt pretty soon...those who are suffering and not abusing the system are going to suffer the most, followed by the middle class.

I'm not going halfway anymore to meet you, Didi. Consider this my last effort.

Re: US '13 days from financial disaster'

[video=youtube;rxzE8x2pnK4]http://www.youtube.com/watch?v=rxzE8x2pnK4[/video]

Re: US '13 days from financial disaster'

[QUOTE=vinnie97;979745]Yes, Didi, ENTITLEMENT programs where generation after generation continues to take advantage of endless handouts, popping out children just to maximize their take. Why don't you ask that question about Detroit, another liberal utopia (I'll admit, not a completely fair example since both parties introduced international trade agreements that gutted the place)? Also, this healthcare "reform" bill, passed just last year, when all of this was looming overhead and $4 trillion in spending by the current administration has only exacerbated conditions.

What did people expect to happen? Yes, Wall Street was a catalyst in 2008 and yes, govt. mandating home loans for the poor (because everybody deserves to own a home whether they can afford it or not, Marx told me so) plus unbridled greed resulted in the nastiest bubble of toxic debt this country has ever seen. Due to that govt/bank/Wall Street marriage, that debt became public debt.

Anyway, welfare abuse is all gonna' come to a screeching halt pretty soon...those who are suffering and not abusing the system are going to suffer the most, followed by the middle class.

I'm not going halfway anymore to meet you, Didi. Consider this my last effort.[/QUOTE] "Halfway to meet you" :lol:

Btw Sorry if I gave the impression I cared if you came halfway to meet me !! :lol:

Re: US '13 days from financial disaster'

Bill Maher fuckin rules.

Re: US '13 days from financial disaster'

DIDI, rest assured it's mutual. No one should be forced to suffer the likes of you. It's quite obviously your way or the highway. Ignore

Re: US '13 days from financial disaster'

:lol: :lol: :lol:

Re: US '13 days from financial disaster'

moved this post to its own thread.