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  1. #41
    Oberon
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    Quote Originally Posted by The_Liquid_Laser View Post
    The problems are magnified and any blame that is due is put upon the wrong person.
    I couldn't care less about fixing blame. If anything is to blame, it's the political process in the US.

  2. #42
    pathwise dependent FDG's Avatar
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    Quote Originally Posted by Victor View Post
    The USA owns, controls and prints the Reserve Currency of the world. So the USA can't go broke but other countries can.
    Yeah, exactly.
    ENTj 7-3-8 sx/sp

  3. #43
    Glowy Goopy Goodness The_Liquid_Laser's Avatar
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    Quote Originally Posted by oberon View Post
    No, not really. That was bubble income, destined to pop... income at unsustainable levels.
    There was bubble income during both the Clinton and W. Bush years. But during the Clinton years we were running a huge surplus and during the Bush years we were running a huge deficit. The bubble is only one piece. The main things causing our deficit now are what I've stated

    2 wars
    tax cuts
    financial crisis (or lack of a bubble if you want to look at it that way)


    Quote Originally Posted by oberon View Post
    I couldn't care less about fixing blame. If anything is to blame, it's the political process in the US.
    No I don't think you are pointing blame, but the article is. A lot of conservative propaganda for the past 2 years has been trying to blame Obama for things that happened during the Bush years.
    My wife and I made a game to teach kids about nutrition. Please try our game and vote for us to win. (Voting period: July 14 - August 14)
    http://www.revoltingvegetables.com

  4. #44
    Oberon
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    Quote Originally Posted by The_Liquid_Laser View Post
    No I don't think you are pointing blame, but the article is. A lot of conservative propaganda for the past 2 years has been trying to blame Obama for things that happened during the Bush years.
    If you read Denninger over time you'll see that he's no Bush fan by any means. He's railing against the current administration because it's the current administration.

  5. #45
    Doesn't Read Your Posts Haight's Avatar
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    War is the answer.
    "The only time I'm wrong is when I'm questioning myself."
    Haight

  6. #46
    Senior Member Chunes's Avatar
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    Quote Originally Posted by oberon View Post
    According to Karl Denninger, the US Government does not have enough income to meet its financial obligations (not even close), and will not for the forseeable future (again, not even close).
    This isn't news. This is how a fractional reserve monetary system works.
    "If you would convince a man that he does wrong, do right. But do not care to convince him. Men will believe what they see. Let them see."
    Thoreau

  7. #47
    it's tea time! Walking Tourist's Avatar
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    That's the end of me.
    Goodbye cruel world.


    Quote Originally Posted by Haphazard View Post
    Well, it goes back to my original point.

    Send all the baby boomers to death camps.
    I'm a little teapot, short and stout. Here is my handle and here is my spout. Every time I steam up, I give a shout. Just tip me over and pour me out.

  8. #48
    Don't Judge Me! Haphazard's Avatar
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    Quote Originally Posted by Walking Tourist View Post
    That's the end of me.
    Goodbye cruel world.
    Yeah, life's gonna suck without my parents, too.
    -Carefully taking sips from the Fire Hose of Knowledge

  9. #49
    it's tea time! Walking Tourist's Avatar
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    My parents will be very upset when their four daughters are... um... rubbed out in such a nefarious way.
    Oh. Murder most vile!
    I'm sure that we can fix the government's finances without your having to sacrifice your parents, however.


    Quote Originally Posted by Haphazard View Post
    Yeah, life's gonna suck without my parents, too.
    I'm a little teapot, short and stout. Here is my handle and here is my spout. Every time I steam up, I give a shout. Just tip me over and pour me out.

  10. #50
    Glowy Goopy Goodness The_Liquid_Laser's Avatar
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    Quote Originally Posted by oberon View Post
    If you read Denninger over time you'll see that he's no Bush fan by any means. He's railing against the current administration because it's the current administration.
    Well I'd doubt I'd want to read him. Even ignoring the issue of blame the whole article is misleading.
    My wife and I made a game to teach kids about nutrition. Please try our game and vote for us to win. (Voting period: July 14 - August 14)
    http://www.revoltingvegetables.com

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