Financial Crisis

[Pedzie]

Americas debt, surely they can't just keep printing dollars to pay for everything! I think one day (soon) the Dollar will cease being the worlds reserve currency, what happens to the US economy then?

Once the Dollar slides there will be nothing to stop it and the poor American people will have the carpet pulled from beneath their feet.

[cloudhopper]

As far as the masses supporting the Occupy movement, who do you think they will choose based on these issues?

They're not going to choose either party because they both clearly serve the 1% and both are totally corrupt.

That is the main point of this movement, and lost on naive partisans.

[flying]

As far as the masses supporting the Occupy movement, who do you think they will choose based on these issues?

They're not going to choose either party because they both clearly serve the 1% and both are totally corrupt.

That is the main point of this movement, and lost on naive partisans.

There ya go !

I did not want to bother with saying it because..

It would be of little use to someone whose mind is clamped shut with right vs left dogma.

Glad you said it though in case someone else may benefit from it

Edited October 3, 2011 by flying

[cloudhopper]

Americas debt, surely they can't just keep printing dollars to pay for everything! I think one day (soon) the Dollar will cease being the worlds reserve currency, what happens to the US economy then?

Once the Dollar slides there will be nothing to stop it and the poor American people will have the carpet pulled from beneath their feet.

You're right - surely they can't and they know it. So they won't. The global financial crisis was not caused by the USD being the de facto currency reserve but that fact will insure that it will be the last one standing. The poor American people have already had the carpet snatched away.

[Jingthing]

Totally ridiculous. Of course, this is a left wing movement and the left wing in America has no other place to go but the democratic party, in exactly the same way that the tea party is a right wing movement which is now completely enmeshed into the republican party.

Yes I totally understand the base of this new movement is totally angry and not identifying with party politics. But push comes to shove, hopefully with their left wing politics, they can push the country more left, and the democratic party, currently Obama, more left. Then they either vote or not. This crowd will not vote republican, I can assure you. I do get many will not vote at all.

I agree both parties are not serving the people. But again, bottom line, the republicans ideology is about serving the people EVEN LESS. I know it stinks, but that is the system. It's slow.

Edited October 3, 2011 by Jingthing

[midas]

It seems to me you are dancing around whether you are supporting a revolution. A yes or no will do. I am not buying this, it's too advanced for politics fantasy. The real world -- POLITICS.

Well nothing could be further from the truth!

Your precious Obama at the beginning had a majority in Congress and the Senate and he has had three years to go after these people and recover the money from the thieving banksters but he didn't do a damned thing about it. And we all know why ……………because he is under their control. You only have to look at who financed his original election campaign.the people who do God's work

That is politics for you

[BlackJack]

totally gob smacked that panic has caused the World to invest in a currency that has fallen off the cliff

is this a joke?

has something been sprayed in the air?

each day is more amazing to see the stupidity in the markets - its more like the twilight zone

i think a safe bet might be to invest in cement co here in Thailand as there is certainly going to be a need for it after the floods subside

[Pedzie]

It seems to me you are dancing around whether you are supporting a revolution. A yes or no will do. I am not buying this, it's too advanced for politics fantasy. The real world -- POLITICS.

Well nothing could be further from the truth!

Your precious Obama at the beginning had a majority in Congress and the Senate and he has had three years to go after these people and recover the money from the thieving banksters but he didn't do a damned thing about it. And we all know why ……………because he is under their control. You only have to look at who financed his original election campaign.the people who do God's work

That is politics for you

Yip...You only have to look at his administration, it's all about Wall Street....

And the end game for these banksters? The creation of a new world currency and possibly world government controlled by them of course, this will in turn start of WW3 :-)

Fact or fiction folks ??

[Naam]

Yip...You only have to look at his administration, it's all about Wall Street....

And the end game for these banksters? The creation of a new world currency and possibly world government controlled by them of course, this will in turn start of WW3 :-)

Fact or fiction folks ??

beam me up Scotty!

[flying]

Yip...You only have to look at his administration, it's all about Wall Street....

And the end game for these banksters? The creation of a new world currency and possibly world government controlled by them of course, this will in turn start of WW3 :-)

Fact or fiction folks ??

I would say that through Central Banking & the FED a world currency is already long a fact....in many ways

Sure it has different pictures & colors in various places but really.....

Edited October 4, 2011 by flying

[waza]

Totally ridiculous. Of course, this is a left wing movement and the left wing in America has no other place to go but the democratic party, in exactly the same way that the tea party is a right wing movement which is now completely enmeshed into the republican party.

Yes I totally understand the base of this new movement is totally angry and not identifying with party politics. But push comes to shove, hopefully with their left wing politics, they can push the country more left, and the democratic party, currently Obama, more left. Then they either vote or not. This crowd will not vote republican, I can assure you. I do get many will not vote at all.

I agree both parties are not serving the people. But again, bottom line, the republicans ideology is about serving the people EVEN LESS. I know it stinks, but that is the system. It's slow.

I know what your saying JT, but the reality is that the Democrats arent left and the republicans right, its more like Dems are right and Republicans are further right, (the new right) with the tea party at the extreme right. The people were seduced by the delusion of the American dream, funded by cheap credit, the GFC showed that this was a house of cards, a charade to hide the truth. Check bin.

Edited October 4, 2011 by waza

[Jingthing]

I know what your saying JT, but the reality is that the Democrats arent left and the republicans right, its more like Dems are right and Republicans are further right, (the new right) with the tea party at the extreme right. The people were seduced by the American dream, funded by cheap credit, but now that they are awakening they are begining to see the truth.

I agree, unfortunately, and I have already said as much. But most Americans don't realize that. They actually believe Obama is a socialist. But see how the tea party moved the republicans further right and the country itself further right. That's why it seems possible to me that a mass people's leftist tea party type movement (and that is what Occupy is) may move the democrats further left. In my view, economic inequality now should be as big an issue in the US as in Thailand, but currently you can't bring that up without being accused of class warfare. The truth of course is that there has always been class warfare, and the elite won big. Time to fight back.

[midas]

I know what your saying JT, but the reality is that the Democrats arent left and the republicans right, its more like Dems are right and Republicans are further right, (the new right) with the tea party at the extreme right. The people were seduced by the American dream, funded by cheap credit, but now that they are awakening they are begining to see the truth.

I agree, unfortunately, and I have already said as much. But most Americans don't realize that. They actually believe Obama is a socialist. But see how the tea party moved the republicans further right and the country itself further right. That's why it seems possible to me that a mass people's leftist tea party type movement (and that is what Occupy is) may move the democrats further left. In my view, economic inequality now should be as big an issue in the US as in Thailand, but currently you can't bring that up without being accused of class warfare. The truth of course is that there has always been class warfare, and the elite won big. Time to fight back.

its academic whether your right or left or even in the centre if you are unable to tell the truth

http://obamalies.net/list-of-lies

[Jingthing]

its academic whether your right or left or even in the centre if you are unable to tell the truth

http://obamalies.net/list-of-lies

Right wingers don't like Obama. Something new please?

[churchill]

Germany must quit the euro zone, says Roger Bootle:

http://insider.thomsonreuters.com/link.html?cn=uidTWEMEA&cid=271785&shareToken=Mzo1ZDhlZTVhYy04ZDkyLTQzNzMtODE1ZS1mNDdkOTNmZmI0YzM%3D&start=0&end=345

[Naam]

Roger Boozler must quit drinking cheap booze says Naam.

[serenitynow]

I know what your saying JT, but the reality is that the Democrats arent left and the republicans right, its more like Dems are right and Republicans are further right, (the new right) with the tea party at the extreme right. The people were seduced by the American dream, funded by cheap credit, but now that they are awakening they are begining to see the truth.

I agree, unfortunately, and I have already said as much. But most Americans don't realize that. They actually believe Obama is a socialist. But see how the tea party moved the republicans further right and the country itself further right. That's why it seems possible to me that a mass people's leftist tea party type movement (and that is what Occupy is) may move the democrats further left. In my view, economic inequality now should be as big an issue in the US as in Thailand, but currently you can't bring that up without being accused of class warfare. The truth of course is that there has always been class warfare, and the elite won big. Time to fight back.

You're missing the point entirely. It doesn't matter if he moves left, or right. He's got no credibility. He's not governing in any fashion. He's shown absolutely zero leadership from any point on the political spectrum. If the right wing steps in it will be HIS fault. Just as it was Bush's fault the pendulum swung to this empty suit.

[Jingthing]

You're missing the point entirely. It doesn't matter if he moves left, or right. He's got no credibility. He's not governing in any fashion. He's shown absolutely zero leadership from any point on the political spectrum. If the right wing steps in it will be HIS fault. Just as it was Bush's fault the pendulum swung to this empty suit.

No, I am not missing that point at all. I think he has been a weak leader. His biggest mistake was being reasonable and assuming the opposition would negotiate with him in good faith; also he gives away to much as the first offer, so he ends up having to give away almost everything. However, rather a weak center left leader than a strong far right fascist. Rick Perry? You've got to be kidding.

Edited October 4, 2011 by Jingthing

[serenitynow]

You're missing the point entirely. It doesn't matter if he moves left, or right. He's got no credibility. He's not governing in any fashion. He's shown absolutely zero leadership from any point on the political spectrum. If the right wing steps in it will be HIS fault. Just as it was Bush's fault the pendulum swung to this empty suit.

No, I am not missing that point at all. I think he has been a weak leader. His biggest mistake was being reasonable and assuming the opposition would negotiate with him in good faith; also he gives away to much as the first offer, so he ends up having to give away almost everything. However, rather a weak center left leader than a strong far right fascist.

Rick Perry? You've got to be kidding

.

Please, turn off your TV. It will do you a world of good. You don't have to react to everything the media wants to throw at you on any given day.

[midas]

You're missing the point entirely. It doesn't matter if he moves left, or right. He's got no credibility. He's not governing in any fashion. He's shown absolutely zero leadership from any point on the political spectrum. If the right wing steps in it will be HIS fault. Just as it was Bush's fault the pendulum swung to this empty suit.

No, I am not missing that point at all. I think he has been a weak leader. His biggest mistake was being reasonable and assuming the opposition would negotiate with him in good faith; also he gives away to much as the first offer, so he ends up having to give away almost everything. However, rather a weak center left leader than a strong far right fascist. Rick Perry? You've got to be kidding.

He does not worry about negotiating ultimately he will just sign yet another executive order in true fascist style ( after being advised by his 32 odd fascist Czar's ) or push through the legislation

no matter what other people think like he did with health care

[Jingthing]

Haha, and you claim to be above partisanship. Make up your mind.

I agree with this but of course we are either stuck with Obama or even worse until 2016. Maybe we can change Obama. Who knows? Maybe he'll grow a pair in his second term.

Class warfare? You bethca!

The Occupy Wall Street protests and the creation of the post-Obama left.

The anarchists and minarchists in the crowd might not like this observation—no parties, man!—but Occupy Wall Street is post-Obama left-wing populism. It will be post-Obama even if the man himself holds office until January 2017. Seven years ago, the people protesting in Zuccotti Park had marched outside the Republican National Convention, decrying George W. Bush. Three years ago, they had channeled their energy into the messianic candidacy of Barack Obama. And here they were again, inspired by AdBusters and Democracy Now, ashamed of how the Tea Party movement became the de facto populist response to the crisis.

...

The Tea Party has always been ostentatious in its American exceptionalism, starting rallies with recitations of the Pledge of the Allegiance. The loudest mic-checkers in Occupy Wall Street want the opposite—a mind-meld with the developing world. Americans are letting financiers rob them and foreclose on them because they think this country gets a pass from the global class war. On Saturday night, as the occupiers got debriefed on the arrests, the connection was complete.

http://www.slate.com/articles/news_and_politics/politics/2011/10/occupy_wall_street_and_the_creation_of_the_post_obama_left_.html Edited October 4, 2011 by Jingthing

[Wrong Turn]

Occupy Wall Street is a good thing, IMO.

But the damage has been done by Wall Street.

They are bringing more awareness to what Wall street and the banksters have done.

As for the US economy, I see lots of rough times ahead for at least the next 8-10 years: low GDP growth, high unemployment, low paying dead-end jobs.

Many economic indicators of Japan's lost decade in the 90s are exactly the same for the USA right now.

[Pedzie]

Yip...You only have to look at his administration, it's all about Wall Street....

And the end game for these banksters? The creation of a new world currency and possibly world government controlled by them of course, this will in turn start of WW3 :-)

Fact or fiction folks ??

beam me up Scotty!

Kapla Worf ;-)

[Jingthing]

The American left, when the juices get flowing, can change things.

I guess you have to be somewhat older to remember that.

This is the great depression of our age. The amazing thing is why it took so long for leftist politics to emerge.

Edited October 4, 2011 by Jingthing

[Jingthing]

Here is a good way to go!

Spend, Spend, Spend

There is only one way out of the global recession, and government must lead the way.

By Joseph E. StiglitzAs the economic slump that began in 2007 continues, the question persists: Why? Unless we have a better understanding of the causes of the crisis, we can’t implement an effective recovery strategy. So far, we have neither.

We were told that this was a financial crisis, so governments on both sides of the Atlantic focused on the banks. Stimulus programs were sold as being a temporary palliative, needed to bridge the gap until the financial sector recovered and private lending resumed. But, while bank profitability and bonuses have returned, lending has not recovered, despite record-low long- and short-term interest rates.

http://www.slate.com/articles/business/project_syndicate/2011/10/how_to_end_the_global_recession_more_public_spending_and_financi.html

[BuffaloRescue]

Is Thatcher still alive and Kicking ?

Poor ol' gal, getting old and senile with Alzheimer's.

Worth 10,000 Blaires, Browns and Darlings.

Thatcher was the one that started selling off our industry, and wanted us to focus on banking and finance.

Little did she know that it would become highly computerised and employ very few people. It props up our GDP but that means very little because investment banking raises VERY little in taxes (3 bn a year) and employs VERY few people.

She turned our economy into a service economy, ie we are all shopkeepers and people who polish the boots of the rich. Not many exports.. no money coming in!

[flying]

Here is a good way to go!

Spend, Spend, Spend

Obviously Financial

Ignorance knows no bounds

Such is the school of....

I will gladly pay you Tuesday for a Hamburger today

Unless we have a better understanding of the causes of the crisis, we can’t implement an effective recovery strategy. So far, we have neither.

Speak for yourself Joe....Even a blind man now knows/understands the causes.

More of the same will not now miraculously become a cure.

Edited October 4, 2011 by flying

[ronz28]

There are plenty of projects available that can reduce costs for everyone and put people to work. Peak oil is here and the world could avoid parabolic energy cost increases by constructing wind electric generators and lines to get the electricity from the areas of wind to the population centers. Also 35 nuclear power plants in the US and probably others worldwide using the defective Fukushima type of reactor design so those plants could be changed to a safer reactor design or converted to use natural gas to boil the water that run the steam generators that produce the electricity. Natural gas could be used to power trucks and buses instead of gasoline. There are so many opportunities to cut costs in the economy and get some bang for the government stimulus buck instead spending money on unemployment benefits, etc. China gets plenty of bang for its government stimulus buck because it is more targeted than the US and others.

Edited October 4, 2011 by ronz28

[flying]

Jim is quite sharp in this one IMO

Then again given the idiots in DC these days common sense sounds quite sharp

Edited October 5, 2011 by flying

[flying]

Dexia continues to make the news...

While Belgium & France claims they will handle it ??

Yet Belgium has a debt load of 322B Euros & a GDP of 340B

France?

If this does not knock them for a loop then they have Italy to look forward to.

If Italy gets going in earnest they will have more than they can handle if not already with this Dexia

BTW: Today Italy was downgraded by Moody from Aa2 to A2 with negative outlook

Finally "The Bernanke" today admits US economy is 'close to faltering...No?

Edited October 5, 2011 by flying