U.S. debt passes $15 trillion milestone

[Devdem]

Dont worry, atleast CEO of Freddie May got like 300m bonus after being bailed out by the tax payers.

Funny that the top 1% are getting biggest payday's while their companies report huge gains or even losses, but it seems like everything else is "broke"

How it works:

1) Run a Huge Investing Firm
2) Blow 2b of clients money
3) get government to bail you out
4) ?
5) Pay yourself and employee's hundreds of millions of dollars as "bonus salary" on top of your original salary

6) Complain that country is broke.

They US Debt is never ending, there is not enough money/materials in the world that USA can pay back to clear the debt, they just find ways of passing the buck.

You know how you pay off 1 CC with another? Well thats what the US Govt is doing.

Soon China will make USA its biatch.

Russia + China + Iran + Brazil = SAY HELLO TO MY LITTLE FRIENDS COMRADE.

Brighton Beach will be new Capital of USA

[Smokin'J]

If Corporations and/or Global Banks have been planning the collapse of our Government and Economy, and also including the world economy. Then why the **** do any of you think just simply voting someone into office will work? IT WON'T. Do you know why? Because the Federal Reserve was put in place in 1913, that was 99 years ago.. the only reason we think there is any hope is most likely because they are just ****ing with you, I think all of our Presidential candidates are LIARS, Obama talked the sweet and good talk, now look where the **** we are. Riiiiight, suddenly electing Ron Paul will be just dandy, everything will magically go away. This is happening whether we want it too or not. And there is no one to blame but ourselves, we did it to ourselves. We spent too much time behind computer screens, partying, etc., etc., and just continued ignoring the fact that there is some evil rising. Now we will pay for it, all of the younger generations are going to suffer just because our older generations are ignorant. Now, we have a **** educational system, put in place by Texas Pete (Bush). Our military is getting ****ed over and brainwashed. The food you eat is poisoned, the air you breathe is ****ed. And your most likely getting a good lil' dosage of radiation, it's been around ever since they started testing nuclear warheads (you do know that **** spreads, right?). WE ARE ****ED, and we can only blame ourselves. And thinking just because you're not in america that you'll be just "fine", you're wrong. Remember our money is as good as gold (LUL) and your country has most likely invested largely into America. It happens here, then the rest of the world will feel the massive shockwaves.
DISCUSS

[Smokin'J]

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[F l i c k e r]

Dont worry, atleast CEO of Freddie May got like 300m bonus after being bailed out by the tax payers.

Funny that the top 1% are getting biggest payday's while their companies report huge gains or even losses, but it seems like everything else is "broke"

How it works:

1) Run a Huge Investing Firm
2) Blow 2b of clients money
3) get government to bail you out
4) ?
5) Pay yourself and employee's hundreds of millions of dollars as "bonus salary" on top of your original salary

6) Complain that country is broke.

They US Debt is never ending, there is not enough money/materials in the world that USA can pay back to clear the debt, they just find ways of passing the buck.

You know how you pay off 1 CC with another? Well thats what the US Govt is doing.

Soon China will make USA its biatch.

Russia + China + Iran + Brazil = SAY HELLO TO MY LITTLE FRIENDS COMRADE.

Brighton Beach will be new Capital of USA

lol, how did Germany get out of it's debt problems all those years back?

[F l i c k e r]

If Corporations and/or Global Banks have been planning the collapse of our Government and Economy, and also including the world economy. Then why the **** do any of you think just simply voting someone into office will work? IT WON'T. Do you know why? Because the Federal Reserve was put in place in 1913, that was 99 years ago.. the only reason we think there is any hope is most likely because they are just ****ing with you, I think all of our Presidential candidates are LIARS, Obama talked the sweet and good talk, now look where the **** we are. Riiiiight, suddenly electing Ron Paul will be just dandy, everything will magically go away. This is happening whether we want it too or not. And there is no one to blame but ourselves, we did it to ourselves. We spent too much time behind computer screens, partying, etc., etc., and just continued ignoring the fact that there is some evil rising. Now we will pay for it, all of the younger generations are going to suffer just because our older generations are ignorant. Now, we have a **** educational system, put in place by Texas Pete (Bush). Our military is getting ****ed over and brainwashed. The food you eat is poisoned, the air you breathe is ****ed. And your most likely getting a good lil' dosage of radiation, it's been around ever since they started testing nuclear warheads (you do know that **** spreads, right?). WE ARE ****ED, and we can only blame ourselves. And thinking just because you're not in america that you'll be just "fine", you're wrong. Remember our money is as good as gold (LUL) and your country has most likely invested largely into America. It happens here, then the rest of the world will feel the massive shockwaves.
DISCUSS

Then you have no right to complain. Your like the person who doesn't want to vote but at the same time wants to complain about how fucked everything is.

I don't know what you were getting at by saying the reason is the Federal Reserve but I can tell you, Ron Paul wants to get rid of it.

[cupocity303]

Also:

Cut Spending

and/or

Raise Taxes

Raise taxes on very wealthy individuals (Multi-Millionaire's) incomes by a few percentage points? Maybe, it's optional and only serves in making people feel better.

As far as Corporate Tax. I've come to the conclusion that it needs to be eliminated. As in 0%. The U.S. Government's spending depends on it's World's Reserve Currency status of the Dollar, a status the U.S. gained by being a Manufacturing giant back in the day. We used to export more goods to other countries than we imported from them. Now that has tilted towards us importing more than we are exporting, because manufacturing and other jobs have gone overseas. And that weakens the currency and it's status and perhaps Hyperinflation ( and thus our ability to keep printing Money to pay interest on the debt).

Thus the U.S. needs to create incentives for Companies overseas to comeback to America, which is getting rid of the Corporate Tax. This isn't so much a case for Trickle Down Economics and how it helps the unemployed & Poor (which the Left and the Right argue about all the time) but an argument for keeping the U.S's spending System from collapsing, if the Dollar crashes. So even the Big Government Spending Liberals who don't wanna cut any programs should embrace this, if they wanna continue or else. If other countries start working their way around the U.S. Dollar and it's Worlds Reserve Currency status, Austerity will happen by default. Right now other countries need our Dollar (I.E. when Germany buys Oil from Saudi Arabia, they can't buy it with the Euro, because the Saudi's want U.S. money, thus Germany has to buy U.S. dollars first to get Oil). There is a long, interesting video on this that explains it better.

[cupocity303]

Co-Sign!

People in the USA don't care how much debt they have ... Come thanksgiving, christmas, easter, they are breaking out the CC and spending more, even if they're broke. Which is crazy!!!!!!



Co-sign again!!!

On-point ... keeping up with the Jones is the order of the day, even if it costs every penny in the piggy.



Collapse!!



That looks about right ... I just can't see how the economic downturn can be reversed when the USA is not what it used to be .... a manufacturing nation.

This country has greedily outsourced to the point where almost everything or at least 70% of the components are produced in foreign lands.

This man touched on what I just said. The problem is not addressing the whole issue and how it relates to the Currency and if it collapses the whole system collapses with it.

When conventional politicians talk about this, it reverts to standard Left Vs Right nonsense about Trickle Down Economics. Raising Taxes Vs Lowering Taxes. Fair Share vs Never Raise Taxes blah. Anybody that knows anything about anything should embrace any incentives that would draw Capital back to this country. Eliminating the corporate tax would incite Manufacturing companies to come back here, even though Labor is much cheaper in other countries.

[Devdem]

lol, how did Germany get out of it's debt problems all those years back?

The solution was Hitler, he saw what his country was becoming and who it was run by and what wouldve happened to it. Just look at USA today and Europe today, EXACTLY what people predicted would happen.

psa: The Founding Fathers were AGAINST a Federal Reserve and all that BS.

A private corporation that doesnt answer to anyone that prints and controls all the money? Yea, nothing can go wrong.

[- v e t -]

I was reading about the savings rates of some Asian countries.

Not even my most frugal friends could save like they do.

i read a while ago that the savings rate for the average chinese citizen was 20% of income... amazing especially considered how empovirished they are considered compared to us

Higher costs of borrowing.

Default.

Bankruptcy.

Sudden and drastic changes in interest rates.

sudden and drastic termination of social welfare programs.

Depression of the likes the world has never seen.

Increased tension with creditors (China specifically)

China buys american companies.

WW3.

We'll see.

MASS INFLATION!!!!

[Devdem]

i read a while ago that the savings rate for the average chinese citizen was 20% of income... amazing especially considered how empovirished they are considered compared to us



MASS INFLATION!!!!

Actually thats 100% wrong, to get a strong economy you have to to de-flate your dollar so it becomes worthless, look at China, their dollar was worth crap and they came out balling. Inflation just ruins your dollar and economy.