jeromemsn wrote:Poconoeagle wrote:I believe the fiasco began much, much longer ago than 1.5 yrs. severe greed is green..
not red or blue not donkey or elephant just greedy snakes...
You are correct it did start long before 1.5 years ago, a better choice of words would of been came to the attention of the American public. You ever notice that the public only takes notice to things once it gets to there wallets or pocketbook. The public needs to get just a tad more in the loop.
The public likes it when the stock market goes up. The public hates it when the prices go up. I guess the public hasn't realized how they work hand in hand yet. They call it the "loop" for a reason people.
You know another thing thats funny. Some folks on here jest about President Obama being a Commie and the Socialist ways he is heading the country in, well if you think that and you live here just think what the rest of the world thinks and they don't live here.
Maybe the people that keep saying we are going Commie or Socialist are the ones that are keeping China at bay. So hurray to the ones that say we are going commie and Socialist. Because if China ever decides they don't want to buy our paper we be in a world of hurt fast.
The US still has street cred but, it is certainly taking a bruising. We are in no immediate danger of China dumping dollars. There is no place to dump them except oil (which is helping to drive up oil which fuels more speculation from banks and other money managers). We are in no immediate danger of invasion. Loan sharks don't kill their customers, they just break their thumbs, then their arms, legs, etc. Unless the US allows the purchase of US assets by China, we could face trouble with the Chinese economically but not militarily. Nuclear superpowers don't want wars with each other.
The US must get its financial house in order. If we do not, we will lose the petrodollar and reserve currency status and then we totally lose the economy. It would be back to 1929 or worse. This nation has lived for too long on borrowed money. It isn't fair to the rest of the world. The concept of "excelsior" as US history has known it, is quickly becoming a lie to the people that cannot be delivered by the government. We will be facing a reduced living standard, not because we aren't hard working, but because our pay exceeded the value of our work as a result of financial trickery. This is to say that only our hegemony from our vast resources, and the debt of gratitude owed us after WWII, allowed our workers to live a better life than most. Those events were extraordinary and now are leveling out in the global arena.
Our leaders are the ones having difficulty dealing with it. I think the election of Scott Brown shows clearly that the people understand our financial limitations.
Defeat the incumbents of all parties. That's the only way we will get change.