Debt Ceiling 2.0 - Page 4 - Politics and Economics

seattlelou · 05-16-2012, 03:04 AM

Quote:

Originally Posted by razrback

is the consensus here that politicians of any party care more about their own careers than the country?

I don't believe this FWIW.

A_C_Slater · 05-16-2012, 03:32 AM

No one cares about a country.

razrback · 05-16-2012, 03:52 AM

a lot of people in the military do

A_C_Slater · 05-16-2012, 04:04 AM

No, they pretend to care to avoid punishment. They also receive wages.

razrback · 05-16-2012, 04:21 AM

so the dudes that signed up on infantry contracts in the middle of two wars knowing full well they were gonna do battle on minefields

...did so to avoid...punishment...

...and or did so to get paid $800 every two weeks for non-stop 100+ hour work weeks leading up to combat pumps...

...and they care nothing for America.

am I reading you right?

goofball · 05-16-2012, 04:56 AM

Quote:

Originally Posted by A_C_Slater

No one cares about a country.

LOL.

2nd level thinking, how does it work?

A_C_Slater · 05-16-2012, 04:57 AM

They either know they don't have any other job prospects or they come from a family of militant culture. In the latter case they do it to receive approval from family expectations, not for America the country. Or they made lots of friends in the military and want to stay with them. No one cares about strangers is my point. Since a country is comprised of many more people that you don't know then ones you do then that means no one cares about a country.

Brons · 05-16-2012, 05:24 AM

Quote:

Originally Posted by seattlelou

I can't recall where I read the 2 percent decrease but in searching for a source a ran across Raymond James which is calling for a 4 percent decrease

http://www.raymondjames.com/monit1.htm

I'll post more if I run across other forecasts.

Edit: This article has a bunch of estimates

http://finance.yahoo.com/blogs/daily...123727473.html

Bernanke is warning of a recession if nothing is done. Its problem.

This isn't because of the tax increase alone though. It's the austerity measures, the spending cuts and tax increases combined, that are causing the drop in growth.

Quote:

Originally Posted by razrback

is the consensus here that politicians of any party care more about their own careers than the country?

I do think most politicians actually care about the country. Their definitions are just different. Republican politicians probably actually believe that if they just give one more tax cut to the rich that the money will start to trickle down and lead to an economic boom of epic proportions.

LetsGambool · 05-16-2012, 10:36 AM

http://www.cnbc.com/id/38467149/Lett...overy_Analysts

Dated, but the first article I found. 1.1-1.5% seems like a pretty reasonable estimate.

cres · 05-16-2012, 10:52 AM

Quote:

Originally Posted by EricLindros

No. Greece doesn't issue it's own currency. The US does. That makes a huge difference. A sovereign issuer of their own currency can never unintentionally default.

Better analogy is Europe as a whole, which is now going through a recession exacerbated by the austerity measures they're implementing throughout the periphery.

the point wasn't about issue of sovereign currency, but implosion. The better historical example would be the Deutsche Mark interwar. Do some research on how long it took for the US$ to replace Sterling as the preferred exchange currency. Then use any metric you want to see how that speed could be enabled in todays highly connected world economy.

If that were to occur in days/weeks, what value the US$ has within its borders means bupkiss. Contrary to patriotic flourishes, no one outside really cares.

dinopoker · 05-16-2012, 12:26 PM

Quote:

Originally Posted by razrback

is the consensus here that politicians of any party care more about their own careers than the country?

Isn't that obvious?

Ashington · 05-16-2012, 12:31 PM

Quote:

Originally Posted by seattlelou

I read Boehner's comments and understand his sentiment but I doubt the debt ceiling negotiations take place so close to the election. I would guess an extension that would last through the year along with a two year extension of the "Bush" tax cuts will be done at the end of the summer.

I agree, this will happen quietly and with little fanfare, probably late on a Friday afternoon, probably before a holiday weekend to minimize press coverage.

metsandfinsfan · 05-16-2012, 12:57 PM

im begining to hate politics

seattlelou · 05-16-2012, 02:30 PM

Quote:

Originally Posted by Brons

This isn't because of the tax increase alone though. It's the austerity measures, the spending cuts and tax increases combined, that are causing the drop in growth.

I do think most politicians actually care about the country. Their definitions are just different. Republican politicians probably actually believe that if they just give one more tax cut to the rich that the money will start to trickle down and lead to an economic boom of epic proportions.

What austerity measures?????

boobies4me · 05-16-2012, 02:35 PM

Quote:

So yeah, last time, the GOP refused to negotiate, refused to compromise, at least right up to the very last second when they finally cobbled together some semblance of a compromise, and now the Republicans are trying to go back on their word and undo the deal that was done, and, of course, keep dat ca$h flowing to their defense contractor and Wall Street cronies at the expense of the poor.

lol @ idea of it just being the republicans enacting policies that are bleeding the poor and middle class dry while we've got Obama in office and Ben Bernanke at the Fed.