Comments on: GOP Presidential wannabes blame Obama for credit downgrade

By: woody188

woody188 — Thu, 11 Aug 2011 04:12:04 +0000

Sorry, that’s “devalues it’s currency to increase exports” aka Japan/China.

By: woody188

woody188 — Thu, 11 Aug 2011 04:10:27 +0000

Nothing will change until global labor arbitrage is addressed. Corporations participating in this practice should be penalized when their products are imported to remove the profitability from the arbitrage. Likewise should occur for corporations importing from a country that continually devalues it’s currency to increase imports. Anyone claims this is against free trade give them the bird and an economics book and tell them to cite the line. Ignorance and greed has allowed this to continue for far too long.

By: griff

griff — Thu, 11 Aug 2011 02:49:49 +0000

The paper is worthless any way…The whole point.

There’s no check on the printing press…Endless war, endless social programs…The People dependent on government for every thing and every thing.

Taxes can’t cover it.

By: Pondering It All

Pondering It All — Thu, 11 Aug 2011 01:41:54 +0000

Sure both parties blame each other, but S&P specifically cited the threat by Republicans to block raising the debt ceiling and throwing the US into default, as their principle reason for lowering the US’s credit rating. Using the threat of default for extortion makes creditors very nervous! Is that some sort of a surprise to anybody?

All Treasury Bills, Notes, and even our currency are backed by the ability of the US Government to collect taxes so it can honor its debts. If Congress can’t do that, then all of that paper is worthless and we concede our position as the reserve currency of the world. Cutting spending is a fine idea, but that is not at all the same thing as skipping out on debts we have already legally incurred. We have a perfectly good way to cut or increase spending: It’s called legislation!

By: griff

griff — Wed, 10 Aug 2011 21:28:02 +0000

Yeah, yeah, yeah – both parties blame each other. As Gomer Pyle would say – Surprise! Surprise! So what else is new?

“Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule – and both commonly succeed, and are right.” – H.L. Mencken