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Thread: The coming 'tsunami of debt' and financial crisis in America

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Not exactly. The toys were not real, and thus not broken. What was given is union hand outs. A union worker is paid $425 an HOUR total comp for working on road projects in CA, his defined benefit retirement is safe and the tax payers are screwed.


    Quote Originally Posted by clownboy View Post
    That was supposed to get started almost six years ago. Another failed Obama promise. The money was thrown away on other broken toys.

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by Fenton View Post

    Its the same economic principles that are behind Texas's booming economy.
    Geez, we went over this last month. The second largest component of your "booming" economy (GSP gains)....is.....wait for it...."mining".

    So if everyone just had a reserves, they could be like Texas.....with all the child poverty and education underfunding too....if they want to follow that model.

    And if we all had reserves, we could also solve our employment and personal debt issues too....while contributing to CO2.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by clownboy View Post
    That was supposed to get started almost six years ago. Another failed Obama promise. The money was thrown away on other broken toys.
    You mean those tax cuts that made up 1/3 of the entire stimulus? I would agree that tax cuts rarely are worth the loss of revenue. The money saved is all too often not spent.

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by Gimmesometruth View Post
    Geez, we went over this last month. The second largest component of your "booming" economy (GSP gains)....is.....wait for it...."mining".

    So if everyone just had a reserves, they could be like Texas.....with all the child poverty and education underfunding too....if they want to follow that model.

    And if we all had reserves, we could also solve our employment and personal debt issues too....while contributing to CO2.

    Yes, you rattled off the standard left wing rhetoric, and I corrected you.

    Again, Oil and Gas is 10 percent of Texas's GDP.

    Millions of Californians aren't moving here for Oil jobs and niether are the over 200 Businesses that have left that State behind.

    Speaking of California Silicon Valley accounts for 10 percent of California's GDP.

    Plus they're the 4rth largest Oil producer in the US. They COULD be the number one producer of Oil in the US but POLICY is stopping shale exploration out there

    So why the huge distinction between the two States ?

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    Re: The coming 'tsunami of debt' and financial crisis in America

    And while we bicker, squabble and stomp, America the Wounded, slowly sinks below the waves of Debt and the Ice of Progressive-Fascism.

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by Kurmugeon View Post
    And while we bicker, squabble and stomp, America the Wounded, slowly sinks below the waves of Debt and the Ice of Progressive-Fascism.
    It's ok, countries are already dropping the dollar in their inter-national trade... Once the dollar gets dropped as the world reserve, and all that debt comes home, it will be worse than the Great Depression...

    Back then the people were generally honourable, hard working, if not self-supporting... Now, when the food stamp cards don't work it takes a few hours for looting to set in, by the end of the week you would start to see cities burning to the ground.

    Seriously, people now are so weak that they will whine if the wifi is not working at Starbucks, and you think these people will not tear the place apart if the money won't buy anything?

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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by Fenton View Post
    Yes, you rattled off the standard left wing rhetoric, and I corrected you.

    Again, Oil and Gas is 10 percent of Texas's GDP.
    Again, the "boom", economic gains, is fueled by oil. Your second largest change in GSP is petroleum.

    "1/09/2014

    As reported here by Dr. Mark Perry, according to the International Energy Agency (IEA), in the year preceding last September, Texas oil production surpassed that of oil-producing giants like Brazil, Venezuela, Nigeria, Mexico and Kuwait to move into the hypothetical Top Ten oil producing nations on earth. During September, Texas’ oil output was measured by IEA at 2.7 million barrels per day. This represents a doubling of the state’s daily oil output in just 29 months. Not since the early years of the 20th century has the state seen such a rapid rise in its oil output, and that steep incline shows no signs of slowing anytime soon.

    If anything, the boom in West Texas might even accelerate in the next few years. The nascent Cline Shale play is beginning to heat up, and results continue to be very good in the Wolfberry/Sprayberry and other plays in the Permian. If current trends continue, it is very likely that Texas would leap past OPEC giants like Iran, Iraq and the United Arab Emirates to become the equivalent of the 6th largest oil producing nation over the next 12-18 months."

    Quit the denial.


    Millions of Californians aren't moving here for Oil jobs and niether are the over 200 Businesses that have left that State behind.

    Speaking of California Silicon Valley accounts for 10 percent of California's GDP.

    Plus they're the 4rth largest Oil producer in the US. They COULD be the number one producer of Oil in the US but POLICY is stopping shale exploration out there
    Nuts.
    Texas has 313% greater levels of oil reserves, 4452% greater levels of NG reserves and 63% greater numbers of refineries. CA is limiting fracking because they care about ground water and air quality.


    So why the huge distinction between the two States ?
    Uh, CA was hit much harder by the Bush Recession, as was AZ, NV, FL....but of those states, CA is doing well in GDP gains:




    I have no idea why you keep pointing me to CA, I don't live there. They have finally got a grip on budget issues after getting the GOP out of the way, but they will still be hobbled by prop 13, a con tax scheme.

    What you should be asking is why states like WI and KS are doing so horribly, where the cons have full control of leg/Gov and continue to show badly against states in their region.
    Last edited by Gimmesometruth; 09-10-14 at 03:31 PM.
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  8. #38
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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by RDS View Post
    Spend about $500 billion to fix up your aging infrastructure. That would create jobs, demand, improve the economy etc.
    actually they spent 700 billion on at least half of 700b on so called shovel ready jobs that were anything but shovel ready.
    so that isn't going to work.

    what we need is the promotion of better skilled work force. the jobs are out there but companies are having a hard time finding qualified workers.
    so we need better secondary and job skill training programs.

    next we need a less progressive tax system. more so on corporations.

    our personal tax rate highest marginal rate should be no higher than 25%. you in fact live in singapore and i would like to see us adopt a similar
    tax rate system where the average person making 60k pays about 4% in income tax.

    the more money that people have the more money they will spend that generates more income and more demand which increases salaries as companies need to
    up their inventory and production.

    the last article i read is that companies are about at maximum capacity, but not quite there. so they are able to produce enough to meet the market.
    we need something to push these companies over the edge.

    my next plan is that companies would be allowed to bring in as much money as they want from overseas tax free as long as it goes towards job growth and expansion.
    let them bring that money back to the US to work for people.

    the problem is that we have one of the most anti business administrations in a long time. he has regulated business and growth into the ground.
    next i would repeal obamacare that is causing people that want to expand to not to as they can't afford the insurance costs.

    again i would setup a system like singapore has which is a massive HSA system.

  9. #39
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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by ludin View Post
    actually they spent 700 billion on at least half of 700b on so called shovel ready jobs that were anything but shovel ready.
    so that isn't going to work.
    Absolute lie.

    The total amount of infrastructure spending in the ARRA was $111B, and it along with the rest of the TAX CUTS, State/Local fiscal relief, et al, had a multiplier greater than 1 making it successful. It was not large enough nor sustained long enough to turn around a $15TRILLION economy.[/QUOTE]
    Quote Originally Posted by trouble13 View Post
    If you wanna know why Trumpsters are ignoring you its for the same reason you ignored the KKKs complaints about Obama.
    Quote Originally Posted by Moderate Right View Post
    When it comes down to it, all facts are cherry picked.
    Quote Originally Posted by Bodhisattva View Post
    He didn't say it didn't make sense. He said it is complete nonsense.

  10. #40
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    Re: The coming 'tsunami of debt' and financial crisis in America

    Quote Originally Posted by Gimmesometruth View Post
    Again, the "boom", economic gains, is fueled by oil. Your second largest change in GSP is petroleum.

    "1/09/2014

    As reported here by Dr. Mark Perry, according to the International Energy Agency (IEA), in the year preceding last September, Texas oil production surpassed that of oil-producing giants like Brazil, Venezuela, Nigeria, Mexico and Kuwait to move into the hypothetical Top Ten oil producing nations on earth. During September, Texas’ oil output was measured by IEA at 2.7 million barrels per day. This represents a doubling of the state’s daily oil output in just 29 months. Not since the early years of the 20th century has the state seen such a rapid rise in its oil output, and that steep incline shows no signs of slowing anytime soon.

    If anything, the boom in West Texas might even accelerate in the next few years. The nascent Cline Shale play is beginning to heat up, and results continue to be very good in the Wolfberry/Sprayberry and other plays in the Permian. If current trends continue, it is very likely that Texas would leap past OPEC giants like Iran, Iraq and the United Arab Emirates to become the equivalent of the 6th largest oil producing nation over the next 12-18 months."

    Quit the denial.Nuts.
    Texas has 313% greater levels of oil reserves, 4452% greater levels of NG reserves and 63% greater numbers of refineries. CA is limiting fracking because they care about ground water and air quality.
    CA has limited just about anything that provides people good paying jobs except for software and those jobs are even moving to TX and other states that have more favorable economies.

    Uh, CA was hit much harder by the Bush Recession, as was AZ, NV, FL....but of those states, CA is doing well in GDP gains:
    yea they were hit hard because like FL, NV and even AZ they had high housing inflation that was not based in reality.



    I have no idea why you keep pointing me to CA, I don't live there. They have finally got a grip on budget issues after getting the GOP out of the way, but they will still be hobbled by prop 13, a con tax scheme.

    What you should be asking is why states like WI and KS are doing so horribly, where the cons have full control of leg/Gov and continue to show badly against states in their region.
    They hardly have a handle on their budget.

    Jerry Brown Stands Atop California's Collapsing House Of Cards - Forbes

    WI seems to be doing fairly well.
    Scott Walker says Wisconsin tops its neighbors in income growth | PolitiFact Wisconsin

    KS problems are elsewhere rather than tax cuts from brownback. the fact is there is still nothing in KS that makes businesses want to move there.
    kansas city and wichita is about it.

    it is mostly a farming state and there are other places that got the jump on them before mostly TX.

    they can turn it around but it is going to take some work to get companies to move there.

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