Philip Coutts
Volunteer Moderator
Being very simplistic isn't it just about power?
General / Off-Topic Effect of US Default on Frontier/ED
- Thread starter Herik
- Start date
<shrug> I don't have a dog in this race being a Brit. I'm just passing on some info from what I've seen in debates on this elsewhere. When the Dem's owned both houses they used their power to pass Obamacare, now the bills are coming in and the Repubs have the House and they are using the power of the purse to try to reign in the Gov expenditure. As the loyal opposition, that's their job; to confront the Dem's and to use what power they have within the Constitution to try to hold them to account.
Borrowing is no panacea for all economical problems, true. Problem is - cold turkey austerity isn't too (I know, trust me). There's no "final solution" to modern economics, it's structural and fundamental problem and frankly either this system will die in horrible death, or it will reform itself.
Therefore we come to mentioned tax increase for rich. There's no way to escape this. In fact, if two years ago all sides would agreed to common sensus - planned careful cuts in spending + reasonable tax increase for rich, world would be much healthier place today. And we know which people don't like this idea.
While no government is perfect, as I said, right now US government with it's spending keeps US economy afloat. Private sector starts slowly to feedback loop to themselves, but they are still very fragile and vulnerable. Doing this default thing now will cost US a lot, no matter of political alignment. Markets *hate* uncertainty, and they run away from repeated offenses of this kind.
I think the game will be made with or without Default of US economy. US aint the only economy in the world. But its an important one for sure. 17000 billion us $ will never be repaid back. They cant, because its impossible. If they shut down everything they still cant manage the bill. Its a endless cycle, and they have passed the event horizon a long time ago. Its either going bankrupt or crash the dollar with inflation. Or they could actually do as Greece has done. Get their debt cut or erased. Which will be the best for all. Cut it as much so they can, repay back some of their loans and start thinking different. Less wars and more love. And be a little more open about all the "black" stuff going on in US. I dont think its the government ruling over there anymore its corperations and banks. The military industrial complex which has grown fat on its own greed and now is collapsing. There is something completly wrong with the US government. They should start to investigate who really pulls strings over there. And also finally admit that they have alien tech and black projects using billions of dollars. And there are trillions dollars unaccounted for. But we need US and their economy and their strength. We need them to open up like many other countries have done. Be honest and open and they will get help as they have helped others before 
Greed and ego can take hold of the best of us. And the only sollution to it is love, understanding and forgiveness. We can all fail, but also rise again.
Greed and ego can take hold of the best of us. And the only sollution to it is love, understanding and forgiveness. We can all fail, but also rise again.Amen (as "So be it").
Obamacare being a planned careful cut in spending?
In a free(ish) trade world with cheap foreign labour, local labour cost have to fall. Same applies to welfare.
It was about debt ceiling deadlock 2 years ago.
Wouldn't be a problem if the rich would be appropriately taxed... problem is, the same "rich people" (read companies/banks) also give loans to countries (GS and the Greek loan debacle) AND invest in their potential financial default.
...as long as stuff like that is legal and somebody makes profit of loan brokering, nothing will change... for the better.
Last edited:
Because taxing rich people "until the pips squeak" has always worked historically.
What actually happens if you punish rich people is that you get less rich people and more poor people and the burden for looking after them falls on the middle of the bell curve.... While the politicians & other members of the "court" increase their own salaries to make sure they aren't suffering because the work they do is soooo important!
Well, if Greece can cut it why shouldnt US cut it. If the economy fails in US it will have a much higher impact on the world economy than the fall of Greece economy. The only humanic thing to do is to save US economy and cut the debt, but also dont loan them anymore cash or atleast less cash. Because its a unmanned freighttrain soon derailing. Someone over there dont have a clue about using money. Even my old grandma has better economy than US government. Its a far worse scenario just to leave the debt than to cut it or bail out the debt. If I had loaned a billion to some people and I knew 1000 people would perish if I didnt remove the debt because of misery. I would have cut it, but wouldnt loan them anymore. So they could start over again fresh, but different this time so they could sustain themselves.
1) Greece is even small economy comparing to Europe;
2) I would like to hear how to sustain country without social security, medicare and not sliding into social chaos
Really, I do. But in another thread and another time, because we are sliding into offtopic heavily here Because taxing rich people "until the pips squeak" has always worked historically.
There we have the problematic word: "historically"
As long as history repeats itself over and over, we never will get the "strong middle class"...
Indeed, if history teaches us anything, it's that history never teaches us anything.
1) Greece is even small economy comparing to Europe;
2) I would like to hear how to sustain country without social security, medicare and not sliding into social chaos
Yupp, its true. To get back on topic I think ED will be made whatever happens, and I think US will be ok and rescued in the end.
If not, we can always start a kickstarter project "Pay back US debt" and donate money to US, to repay the debt. It would take some backers, and I will not discuss the reward system.....
If not, we can always start a kickstarter project "Pay back US debt" and donate money to US, to repay the debt. It would take some backers, and I will not discuss the reward system.....
Greencards for ALL! ...wait, they already do that.
One of the stretch goals should be to pay back the tax on tea owed to the British Empire. It's a bloody scandal, I tell you, Sir!Yupp, its true. To get back on topic I think ED will be made whatever happens, and I think US will be ok and rescued in the end.
If not, we can always start a kickstarter project "Pay back US debt" and donate money to US, to repay the debt. It would take some backers, and I will not discuss the reward system.....