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Old 09-27-2011, 07:05 PM   #16
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This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?
China can cash in a fraction of the precious metals they are hoarding.
(Or more likely, demand all of ours as payment.)
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Old 09-27-2011, 07:33 PM   #17
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Originally Posted by INDY500 View Post
This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?
Lots of countries have defaulted and recovered.
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Old 09-27-2011, 08:11 PM   #18
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China can cash in a fraction of the precious metals they are hoarding.
(Or more likely, demand all of ours as payment.)
China can buy Greece and send their iPhone/ IPad assembly workers there on an rotating annual holiday.
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Old 09-28-2011, 03:40 AM   #19
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Originally Posted by INDY500 View Post
This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?
the €2 trillion is the proposed Eurozone bailout fund, isn't it? not just for Greece - plenty of other countries in trouble or heading that way... that's why the ECB is trying to vote the higher rescue package thru...
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Old 09-28-2011, 03:59 AM   #20
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Originally Posted by INDY500 View Post
This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?
Once debt to GDP ratio hits 150%, things get bad.

Greece is at 142 according to 2010 numbers, U.S.A. is projected to hover around 105 until 2016.

In short: the US has the gumption to pull itself out of a hole; Greece? Helllll naw.
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Old 09-28-2011, 01:32 PM   #21
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This guy's clueless. Greece's total debt is 400 billion. Their default can be managed.

The United States' debt is 14.8 Trillion dollars and climbing. When Uncle Sam defaults who's gonna loan us 25% of the world's GDP?
The two situations are nothing alike for a million reasons.

Not the least of which is the fact that you have your own currency and can print money.
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Old 09-28-2011, 03:21 PM   #22
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but that does not negate the fact that Obama is spending money like he is on crack
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Old 09-28-2011, 08:57 PM   #23
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The two situations are nothing alike for a million reasons.

Not the least of which is the fact that you have your own currency and can print money.
You are absolutely right about that and barring a sudden manifestation of leadership in Washington we will continue to QE the money supply, monetize the debt and deficit spend our way to a more grandiose default or hyper-inflated dollar because of that reason.
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Old 09-28-2011, 11:51 PM   #24
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it's really funny how the critiques of Obama continue to shift.

first, he was a radical socialist leftist undermining the constitution.

now, he's not a leader? i thought he was turning this country into the soviet union? how do you do that without actually, you know, leading?

please, make up your mind.
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Old 09-29-2011, 12:21 AM   #25
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it's really funny how the critiques of Obama continue to shift.

first, he was a radical socialist leftist undermining the constitution.

now, he's not a leader? i thought he was turning this country into the soviet union? how do you do that without actually, you know, leading?

please, make up your mind.
He doesn't openly rejoice in the unleashing of the US war machine upon defenseless third world countries, so from the point of view of the US radical extreme right, his leadership is up for question. Penis size is very important to these people in a leader - having a small one, and over-compensating by ordering in the weapons of war on a moment's pretext.

From the point of view of the sane world, he's slightly less of a cunt than Bush/Cheney.

Incidentally, and comparing Michelle to the murderess and the murderess's enormous white-haired MOL, not to mention that neurotic astrology-obsessed stick insect that served as Reagan's consort, it's refreshing, just for once, not to have a Stepford Wife in the White House.
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Old 09-29-2011, 02:37 AM   #26
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first, he was a radical socialist leftist undermining the constitution.
I once really badly wished it was true, as ridiculous as it sounds.
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Old 09-29-2011, 07:56 PM   #27
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it's really funny how the critiques of Obama continue to shift.

first, he was a radical socialist leftist undermining the constitution.

now, he's not a leader? i thought he was turning this country into the soviet union? how do you do that without actually, you know, leading?

please, make up your mind.
That was actually a critique of leadership from both parties in D.C. and state houses around the country over the past 10-12 years.

But sure, Obama is the undisputed debt king now.
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Old 09-29-2011, 09:29 PM   #28
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But sure, Obama is the undisputed debt king now.

you do know, of course, what happened to the debt under Mssrs Reagan and W. Bush, yes? and that it's the Bush tax cuts that have exploded our debt, yes?
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Old 09-30-2011, 12:11 AM   #29
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No, no, it's spending! Decreased revenue has nothing to do with it. Go back to bed, Irvine.
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Old 09-30-2011, 03:21 PM   #30
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I wonder...if Congress came in tomorrow and somehow balanced the budget...and created a surplus to begin paying down the debt...

Would a President Romney and his Republican Senate and House then clamor for more tax cuts for the rich and ruin it all over again like in 2001?

The budget was balanced and there was a surplus only a little over 10 years ago.
But instead of paying down the debt, that surplus was mailed back to the public. And then they cut Taxes tremendously. And revenues spent the next six years in the shitter.

Oh. And basically about a million jobs were added in those 8 years of the Bush administration. Most of them Govt jobs.

You can't make this shit up.

There's no wonder jobs aren't being created over the last few years...there were barely any jobs being created before that. It's been ten years of a shitty economy for almost everyone.
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