You may be asked to reset your password when you try to login. This is part of a system update and is genuine, so it's safe to go ahead and do that. If you no longer have access to the email address you used to register, please email us at [email protected] rather than creating a new account. Apologies for the inconvenience.

What Do You Think of Obama's Emergency Economic Plan?

Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
Let’s see, we have a world recession, and a national recession. The dollar is at its lowest value since the great depression. We are witnesses to the largest transfer of wealth from one country to another in the history of the world. 3.5% of our GNP is used to pay interest on the largest national debt in the history of the United States.

Foreign interest now almost holds more stocks and bonds than Americans not to mention a large percentage of what little manufacturing we still do. We have been basically been reduced to a nation of salesmen for other nations that are scooping up America in monumental proportions.

So, what do I think about Obama’s economic plans? Let’s see, he wants to penalize business that make profits, raise taxes on the bad business that employ America, and stifle energy exploration and growth in the name of conservation. All of this being “quarterbacked” by a two-year Legislator who is yet to even chair a committee in Washington… Hmm that’s a hard one.

Furthermore, check this clash videos I found yesterday about the US Presidential candidates have talked taxes. Well, it’s entitled Obama v. McCain on Taxes. Watch these statements - then vote in http://clashorama.com/index.php?id=194
«1

Comments

  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    at least he's not planning to enslave the American working class

    http://vbulletin.thesite.org/showpost.php?p=2183534&postcount=24
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    at least he's not planning to enslave the American working class

    http://vbulletin.thesite.org/showpos...4&postcount=24

    Too late
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Millions of Americans will be in labour camps withing a very short time.
    Your country has been stolen by a very hard bunch of crooks.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    well the equity and credit markets are already fubared, and bond market is next to go if us gov keeps handing out stimulus checks and accepting dodgy collateral for treasuries at the FED. it doesn't really matter who gets in the next few years aren't going to be pretty over there.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    And yet its the republicans of the last 8 years who have done a lot of the damage!
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Foreign interest now almost holds more stocks and bonds than Americans not to mention a large percentage of what little manufacturing we still do. We have been basically been reduced to a nation of salesmen for other nations that are scooping up America in monumental proportions.
    Eh?

    The manufacturing is done by poor brown people, in poor brown countries where many of them are paid poor brown wages so they can barely feed their families. A lot of these businesses damage the environment around them, spew chemicals in to rivers where little brown children play and where brown mothers feed their brown babies.

    If anybody is 'scooping', chewing, spitting out and stamping on other people, it is happening to the global south. NOT America... In fact the USA has some part to play in this, no?
    and stifle energy exploration and growth in the name of conservation.
    Actually economically and ecologically, the investment in fossil fuels in the long term is unsustainable.

    Why can't energy growth be about renewables?

    Seriously... It is hard to be sympathetic about a government which spends so much money on bombing brown people. How much did the Bush administration pay for that? And how has it benefitted Americans on their own soil?

    But like I say... The people trodden down so that countties such as the USA and the UK are only brown, so it doesn't really matter. :rolleyes:
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Namaste wrote: »
    Eh?

    The manufacturing is done by poor brown people, in poor brown countries where many of them are paid poor brown wages so they can barely feed their families. A lot of these businesses damage the environment around them, spew chemicals in to rivers where little brown children play and where brown mothers feed their brown babies.

    If anybody is 'scooping', chewing, spitting out and stamping on other people, it is happening to the global south. NOT America... In fact the USA has some part to play in this, no?

    :confused:

    Who are poor brown people and which countries are poor brown countries?

    The U.S.A. still has a manufacturing industry, most stuff they import is from the Far East or India. If you're reffering to Africa then you'd be wrong, most African countries' economis rely on agriculture. Espcially sub-sahara Africa.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Millions of Americans will be in labour camps withing a very short time.
    Your country has been stolen by a very hard bunch of crooks.

    Apart from anything else the US government doesnt have the money to put millions into labour camps.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Just a quick point - please don't use these boards to simply promote other content. If you know of a relevant article that will move a debate on that's fine but it's not good manners to simple post links.

    If you don't want to engage with any of the actual debates then I'm afraid the links won't be permitted.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    I'm just glad that Barack Obama won't be the next president of the United States. If this is the best plan he can come up with, there's truly no hope for him.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    stargalaxy wrote: »
    I'm just glad that Barack Obama won't be the next president of the United States. If this is the best plan he can come up with, there's truly no hope for him.

    Truly no hope for him? How do you figure that out?

    He wouldnt have got as far as he has without having something about him, and i think his policies are quite possibly actually very good!
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    it doesn't matter how good your policies are if you're broke you can't do much. america needs a good war president for the next few years i'm not sure obama's cut out for it.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    I have to be honest, it's disgusting how much money has been spent on the war in Iraq, and now the shit we are in.

    Also, amazing how quickly the FED can find money to stabilise banks, but not feed homeless people or dying children./
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Thats because as far is the FED is concerned its money grows on trees.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    yep
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    minimi38 wrote: »
    Thats because as far is the FED is concerned its money grows on trees.

    The amount of money they are giving out is truly terrifying, they have already taken on the security on Freddie and Fanny, which is about $500bn, then they gave AIG $80bn or so, plus they are now working on a plan which will mean then taking on most of the dodgy mortgage debt - God only knows how many billion that will be.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    It's estimated that the plan that's about to happen will be 1 or 2 trillion dollars, and it's likely to be closer to 2 trillion.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Jim V wrote: »
    It's estimated that the plan that's about to happen will be 1 or 2 trillion dollars, and it's likely to be closer to 2 trillion.

    I have no response other than to laugh, we really are living in completely bonkers times. If it helps us (and if it goes ahead it will) then I'm all for it, I fear that the day when China stops buying US debt is coming and then we are all in trouble.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Bit theoretical though - it only becomes a problem if 50% of US mortgage payers not only can't pay their mortgages, but all the repossessed homes can't be sold or rented out. And if that happens the US (and the world) has a bigger problem than US Government liabilities.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Bit theoretical though - it only becomes a problem if 50% of US mortgage payers not only can't pay their mortgages, but all the repossessed homes can't be sold or rented out. And if that happens the US (and the world) has a bigger problem than US Government liabilities.

    Still, it is a monumental liability for the government to take on, and a massive bail out for the banks given their very dodgy record of lending. Even if its 5% who are a complete loss that is going to be a huge loss for the tax payers.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    budda wrote: »
    Still, it is a monumental liability for the government to take on, and a massive bail out for the banks given their very dodgy record of lending. Even if its 5% who are a complete loss that is going to be a huge loss for the tax payers.

    5% seems an awful lot as not only would they have to not be able to repay, but their house would also have to burn down. Otherwise the house will be repossessed and appear as an asset (albeit perhaps not at its original mortgage value).

    Its a liability, but its not going to scupper the US economy
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    5% seems an awful lot as not only would they have to not be able to repay, but their house would also have to burn down. Otherwise the house will be repossessed and appear as an asset (albeit perhaps not at its original mortgage value).

    Its a liability, but its not going to scupper the US economy

    I can see what you mean, but there does seem to be a big glut in the US housing market, and even if the government then becomes the biggest landlord in history its going to cost a lot. I know someone who lives in Chicago and they have said that the property section of their paper has dozens and dozens of pages of repossessed houses for sale at dramatically below their previous value.

    You're probably right though in the short term its not enough to pull the whole economy under, but they cant keep living on debt.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Let?s see, we have a world recession, and a national recession. The dollar is at its lowest value since the great depression. We are witnesses to the largest transfer of wealth from one country to another in the history of the world. 3.5% of our GNP is used to pay interest on the largest national debt in the history of the United States.

    Foreign interest now almost holds more stocks and bonds than Americans not to mention a large percentage of what little manufacturing we still do. We have been basically been reduced to a nation of salesmen for other nations that are scooping up America in monumental proportions.

    So, what do I think about Obama?s economic plans? Let?s see, he wants to penalize business that make profits, raise taxes on the bad business that employ America, and stifle energy exploration and growth in the name of conservation. All of this being ?quarterbacked? by a two-year Legislator who is yet to even chair a committee in Washington? Hmm that?s a hard one.

    Furthermore, check this clash videos I found yesterday about the US Presidential candidates have talked taxes. Well, it?s entitled Obama v. McCain on Taxes. Watch these statements - then vote in http://clashorama.com/index.php?id=194

    Your posting sounds very biased against Obama from the very start, so it doesn't really sound like you're asking about what people think.

    The majority of regular posters on this board live outside the USA and get to see what goes on in the USA with less bias then most American's do.

    Obama's energy plans are not solely for environmental grounds - either you are misinformed or trying to mislead everyone on this board.

    Environment is part of the reason but by going green it means new jobs in the USA making solar cells, wind turbines, new greener (electric / hyroden / hybrid) cars to replace the aging combusion engine cars and also less dependant on foreign oil. New jobs making homes in the USA better insulated in winter, etc.

    Did you not know that?? or did you just choose to leave out all the reasons in order to bias the post in the direction you wanted?

    If you want to have an open and honest discussion point out all the salient facts not just the ones that suit you.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    DG wrote: »
    The majority of regular posters on this board live outside the USA and get to see what goes on in the USA with less bias then most American's do.


    No we don't. We have different biases and information which is much more slanted to how US impacts on the UK.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    No we don't. We have different biases and information which is much more slanted to how US impacts on the UK.

    Really - DO YOU pledge to the Flag of the United States in School?

    DO YOU have media that is constantly bombarding you with the threat of Terror ??

    DO YOU have protesters where you live coming to protest because they don't want an International News Station reporting from your town?

    http://media.www.oredigger.net/media/storage/paper1162/news/2008/09/01/News/Locals.Clash.With.International.Reporters.AlJazeera.Interviews.Golden.Residents-3410538.shtml

    http://video.google.co.uk/videosearch?sa=N&tab=nv&q=Buffalo%20Rose%20Al-Jazeera#

    If you think you have a point then stand up and give us your examples??
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    DG wrote: »
    Really - DO YOU pledge to the Flag of the United States in School?

    DO YOU have media that is constantly bombarding you with the threat of Terror ??

    DO YOU have protesters where you live coming to protest because they don't want an International News Station reporting from your town?

    http://media.www.oredigger.net/media/storage/paper1162/news/2008/09/01/News/Locals.Clash.With.International.Reporters.AlJazeera.Interviews.Golden.Residents-3410538.shtml

    http://video.google.co.uk/videosearch?sa=N&tab=nv&q=Buffalo%20Rose%20Al-Jazeera#

    If you think you have a point then stand up and give us your examples??

    Quite what that that's got to do with bias I'm not sure. Of course one can pick extreme examples of anything. In the UK reporters have after all been gunned down by locals http://en.wikipedia.org/wiki/Martin_O'Hagan

    And quite how that's got to do with environmental plans I don't know.

    Nor am I sure what pledging allegiance has to do with it. After all it pledges allegiance to the USA, not to John McCain.

    And the US media is much more nuanced than you give it credit for - you may have Fox News, but then you have the Washington Post and New York Times, which are arguablly much less biased than papers than you get in the UK (with the exception of the FT).
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    Its a liability, but its not going to scupper the US economy

    you should be a politician flash :p

    the US economy is already fucked and there's nothing obama can do about that. the FED has used most of its balance sheet to prop up the banks and anymore bailouts will involve printing money via the treasury. in that scenario money flees gov bonds and yields go to the moon to compensate which crushes private sector borrowing. the failing credit and equity markets are disguising the fact that the bond market is under a lot of stress as well, the FED is relying on a flight to quality to finance their alphabet soup but the US needs $2 billion capital inflows a day just to tread water. this model was never sustainable and now we all get to see it blow up in spectacular fashion. mark my words.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    you should be a politician flash :p

    the US economy is already fucked and there's nothing obama can do about that. the FED has used most of its balance sheet to prop up the banks and anymore bailouts will involve printing money via the treasury. in that scenario money flees gov bonds and yields go to the moon to compensate which crushes private sector borrowing. the failing credit and equity markets are disguising the fact that the bond market is under a lot of stress as well, the FED is relying on a flight to quality to finance their alphabet soup but the US needs $2 billion capital inflows a day just to tread water. this model was never sustainable and now we all get to see it blow up in spectacular fashion. mark my words.

    The US economy has for a while been run on debt bought by China and Japan, this will come to an end at some point.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    budda wrote: »
    The US economy has for a while been run on debt bought by China and Japan, this will come to an end at some point.

    that's my point, foreign treasury sales have already started declining but the bond market doesn't reflect that just yet because domestic money has flown out of the credit and equity markets into bonds, which are perceived as safe in times like these....well, right up until ben and hank crank up the printing press to try and bailout their buddies on wall street.

    there is nothing left on the FED's balance sheet to save the banks so either congress passes this latest bill or the banks start blowing up. neither scenario ends well for the US, but if the government loses their AAA rating on sovereign debt and provokes capital flight things will get a lot uglier for everyone.
  • Former MemberFormer Member Posts: 1,876,328 The Mix Honorary Guru
    there is nothing left on the FED's balance sheet to save the banks so either congress passes this latest bill or the banks start blowing up. neither scenario ends well for the US, but if the government loses their AAA rating on sovereign debt and provokes capital flight things will get a lot uglier for everyone.

    You're completely right, the US government just cant keep spending like its going out of fashion. I just hope it isnt too ugly for the rest of us.
Sign In or Register to comment.