Great Depression of 2016

[Dwkuska]

Default is not going to be nice at any time, but it would be much worse the higher the tab gets. Is it better to bite the bullet now, or later?

I think many are hoping we can catch up, but there are no spending cuts and the higher the limit, the more our government purchases.

That's just it. The heads of the Democratic party are trying to convince everyone that if the government spends more money that somehow the economy will get better. Ya know at some point I have to stop and think that our reps cant possibly be this stupid. They have to know what they are doing and just think the rest of the "sheeple" wont catch on.

 

[Bluebonnet]

That's just it. The heads of the Democratic party are trying to convince everyone that if the government spends more money that somehow the economy will get better. Ya know at some point I have to stop and think that our reps cant possibly be this stupid. They have to know what they are doing and just think the rest of the "sheeple" wont catch on.

There is no getting out this mess without Americans suffering. They are suffering right now, 47 million on SNAP, let alone other programs. If that support was suddenly no longer there, the effect and reaction would be immediate.

Folks know what is going on, the problem is too many expect that help to always be there in case they need it. That help should be there, folks do need it, but if the money runs out and the payments stop, there would be a lot of sorrow in America, because what will those people do then?

I am concerned for the well being of my fellow Americans.

 

[rufus]

The nation will not default; they will just keep selling those bonds to the fed and getting more green backs. Eventually, the member banks will take it in the worst way. It is a big Ponzi scheme.

People that have saved all their lives will see the purchasing power of their money disappear. No wonder people will no longer save. They can't get enough interest off of their savings to cover the cost of inflation. Worse, they have to pay taxes on what little they do get.

Then people looking for a safe place for their wealth put their money into stocks and real estate. They become over sold, and we have another bubble.

The day that China decides that their currency should be fully convertible and serve as a reserve currency, the game will be over.

By the way, I read this morning that the Chinese National Petroleum Corporation has discovered a massive gas field in Sichuan Province. http://www.upi.com/Business_News/En...major-gas-find-in-Sichuan/UPI-81171392036746/

They have learned well from their association with the US and Canadian oil people.

 

[rufus]

http://www.pennenergy.com/articles/...-in-china-could-meet-two-years-of-demand.html

This gives more detail. Remember, nothing gets printed in Red China without government approval.

 

[Bluebonnet]

The nation will not default; they will just keep selling those bonds to the fed and getting more green backs. Eventually, the member banks will take it in the worst way. It is a big Ponzi scheme.

People that have saved all their lives will see the purchasing power of their money disappear. No wonder people will no longer save. They can't get enough interest off of their savings to cover the cost of inflation. Worse, they have to pay taxes on what little they do get.

Then people looking for a safe place for their wealth put their money into stocks and real estate. They become over sold, and we have another bubble.

The day that China decides that their currency should be fully convertible and serve as a reserve currency, the game will be over.

By the way, I read this morning that the Chinese National Petroleum Corporation has discovered a massive gas field in Sichuan Province. http://www.upi.com/Business_News/En...major-gas-find-in-Sichuan/UPI-81171392036746/

They have learned well from their association with the US and Canadian oil people.

The global economy is a scary concept. If one nation goes down, everyone else feels the pain too.

Being able to save is another concept altogether. What do you want to invest in? Personally, I want to invest in myself and in having like-minded neighbors who are also prepared. Happiness and security mean different things to different people. As long as I could live happily on my farm, marry a good man and ensure that my children are provided for and that they will not be burdened by my elderly care, I would consider myself a happy woman who lived a good life.

 

[hemet dennis]

Yall are debating two separate issues.


New regulations being enacted on long time residents v/s someone moving in to somewhere with a long standing regulation.

I am not a fan of the bans cause they make no sense but also cause for the second one to happen then the first one has to have happened.

This is all somewhat off topic though.

Most places when the enact new rules do grandfather the ones that say have roosters can keep having them.

 

[hemet dennis]

Quote:
Yes the other poster was saying that there shouldn't be a ban on roosters anywhere.

 

[hemet dennis]

Not so much as a whimper. http://www.washingtonpost.com/polit...44cf8a-9338-11e3-84e1-27626c5ef5fb_story.html

It wouldn't have been the right fight. The place to cut spending is in the appropriations, not when it comes to paying what has been authorized to spend. It's like a couple decides to buy a new car, and after they get the car then discover that they don't want to pay for it.
The spending has to be cut when we decide what to buy. Most people think we should cut spending, but most cannot agree on what should be cut.

 

[newfoundland]

People can never agree on what spending cuts should be made. Those with investments and good incomes like the idea of tax breaks, and those on the lowest incomes want extra spending on what you call welfare and we call benefits. Some would have tax increased and others, benefits slashed. Where do we go from there?

 

[hemet dennis]

The nation will not default; they will just keep selling those bonds to the fed and getting more green backs. Eventually, the member banks will take it in the worst way. It is a big Ponzi scheme.

People that have saved all their lives will see the purchasing power of their money disappear. No wonder people will no longer save. They can't get enough interest off of their savings to cover the cost of inflation. Worse, they have to pay taxes on what little they do get.

Then people looking for a safe place for their wealth put their money into stocks and real estate. They become over sold, and we have another bubble.

The day that China decides that their currency should be fully convertible and serve as a reserve currency, the game will be over.

By the way, I read this morning that the Chinese National Petroleum Corporation has discovered a massive gas field in Sichuan Province. http://www.upi.com/Business_News/En...major-gas-find-in-Sichuan/UPI-81171392036746/

They have learned well from their association with the US and Canadian oil people.

China cannot just decide that their currency is the reserve currency. Other countries decide what currency to sell their goods at. Other countries would have to have more trust in Chinese currency then the dollar to make it the reserve currency, no one thinks that will happen anytime soon.

While being a good gas find, China will still need to import natural gas even if they don't increase consumption, and everyone thinks they will keep increasing consumption. Even with the large new increases of oil production here we still need to import a net of over 6 million barrels a day for our own use.

The best way to keep from a depression is to get our balance of trade back in balance. When we have billions of dollars leaving the country everyday we cannot stay wealthy. And this is all up to the American consumers, businesses moved production offshore because consumers told them to in the market place.