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Ready for Europen Style Austerity America?

 
Solos99_99
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11/26/2010 11:25 AM
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Ready for Europen Style Austerity America?
"NEW YORK (CNNMoney.com) -- FDIC Chairman Sheila Bair believes "urgent action" is needed to lower government debt and forestall the next financial crisis, according to an op-ed piece published Friday.

"Even as work continues to repair our financial infrastructure and get the economy moving again, we need urgent action to forestall the next financial crisis," Bair wrote in the Washington Post. "I fear that one will start in Washington."

Citing a sharp increase in federal debt, which is now approaching $14 trillion, Bair argued that "relentless federal borrowing" will eventually "directly threaten our financial stability."

"This explosive growth in federal borrowing is a result of not just the financial crisis but also government unwillingness over many years to make the hard choices necessary to rein in our long-term structural deficit," she writes."

[link to money.cnn.com]

So we now have Republicans in Congress who are going to put a stop to all this spending right. But wait the nation is bankrupt, hell the world is bankrupt based on the rules of the financial system and fiat currency. So if we don't print money in America ala Quantitative Easing then how do we pay our bills? We have to cut spending. This woman at the FDIC has just taken the first step in the public domain of the coming cuts to your services starting with the 99ers and their unemployment. This is what is really going to crush America and set her off.

Last Edited by Solos99_99 on 11/26/2010 11:35 AM
Anonymous Coward
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11/26/2010 11:27 AM
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Re: Ready for Europen Style Austerity America?
"NEW YORK (CNNMoney.com) -- FDIC Chairman Sheila Bair believes "urgent action" is needed to lower government debt and forestall the next financial crisis, according to an op-ed piece published Friday.

"Even as work continues to repair our financial infrastructure and get the economy moving again, we need urgent action to forestall the next financial crisis," Bair wrote in the Washington Post. "I fear that one will start in Washington."

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Citing a sharp increase in federal debt, which is now approaching $14 trillion, Bair argued that "relentless federal borrowing" will eventually "directly threaten our financial stability."

"This explosive growth in federal borrowing is a result of not just the financial crisis but also government unwillingness over many years to make the hard choices necessary to rein in our long-term structural deficit," she writes."

[link to money.cnn.com]

So we now have Republicans in Congress who are going to put a stop to all this spending right. But wait the nation is bankrupt, hell the world is bankrupt based on the rules of the financial system and fiat currency. So if we don't print money in America ala Quantitative Easing then how do we pay our bills? We have to cut spending. This woman at the FDIC has just taken the first step in the public domain of the coming cuts to your services starting with the 99ers and their unemployment. This is what is really going to crush America and set her off.
 Quoting: Solos99_99


ameritards are clueless as to what's coming
Solos99_99 (OP)

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11/26/2010 11:36 AM
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Re: Ready for Europen Style Austerity America?
"NEW YORK (CNNMoney.com) -- FDIC Chairman Sheila Bair believes "urgent action" is needed to lower government debt and forestall the next financial crisis, according to an op-ed piece published Friday.

"Even as work continues to repair our financial infrastructure and get the economy moving again, we need urgent action to forestall the next financial crisis," Bair wrote in the Washington Post. "I fear that one will start in Washington."

Citing a sharp increase in federal debt, which is now approaching $14 trillion, Bair argued that "relentless federal borrowing" will eventually "directly threaten our financial stability."

"This explosive growth in federal borrowing is a result of not just the financial crisis but also government unwillingness over many years to make the hard choices necessary to rein in our long-term structural deficit," she writes."

[link to money.cnn.com]

So we now have Republicans in Congress who are going to put a stop to all this spending right. But wait the nation is bankrupt, hell the world is bankrupt based on the rules of the financial system and fiat currency. So if we don't print money in America ala Quantitative Easing then how do we pay our bills? We have to cut spending. This woman at the FDIC has just taken the first step in the public domain of the coming cuts to your services starting with the 99ers and their unemployment. This is what is really going to crush America and set her off.


ameritards are clueless as to what's coming
 Quoting: Anonymous Coward 1175259

Can you be more specific?
Ex-AFOSI

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11/26/2010 11:49 AM
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Re: Ready for Europen Style Austerity America?
Americans, myself included, are actually de-leveraging like crazy, as are American businesses. The housing market is close to bottom. What is happening, is that we are transitioning to a new type of economy, one that closely resembles the semiconductor industry, i.e. deflation as the norm. The rampant inflation of commodity prices is a reflection of the changing scale of value. In other words, manufacturing cost is approaching zero (because of technological innovation), and so raw materials and creative innovation are the only things left with real value.

This will continue, with global conflicts centering on resource domination, until full scale nano-manufacturing will bring the 1st Industrial revolution and all the associated social structures to a close.
Anonymous Coward
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11/26/2010 11:57 AM
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Re: Ready for Europen Style Austerity America?
It's IMF style, not European style. It is how America has practised foreign policy for decades and now they have to do it to themselves...funny how they don't like it
Solos99_99 (OP)

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11/30/2010 10:40 AM
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Re: Ready for Europen Style Austerity America?
Solos99_99 (OP)

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11/30/2010 10:54 AM
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Re: Ready for Europen Style Austerity America?
Anonymous Coward
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11/30/2010 10:57 AM
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Re: Ready for Europen Style Austerity America?
Americans, myself included, are actually de-leveraging like crazy, as are American businesses. The housing market is close to bottom. What is happening, is that we are transitioning to a new type of economy, one that closely resembles the semiconductor industry, i.e. deflation as the norm. The rampant inflation of commodity prices is a reflection of the changing scale of value. In other words, manufacturing cost is approaching zero (because of technological innovation), and so raw materials and creative innovation are the only things left with real value.

This will continue, with global conflicts centering on resource domination, until full scale nano-manufacturing will bring the 1st Industrial revolution and all the associated social structures to a close.
 Quoting: Ex-AFOSI



Of course, because the banks have no homes on their books and everybody is promptly paying their note.

Idiot.
Ubetcha

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11/30/2010 11:02 AM
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Re: Ready for Europen Style Austerity America?
We have to do it. There is no choice. Our financial instability is one of the greatest threats we have. As far as I am concerned the banksters should be charged with financial terrorism.
I live in the state of perpetual confusion
Janey Flag of Peace
Solos99_99 (OP)

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11/30/2010 11:08 AM
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Re: Ready for Europen Style Austerity America?
Americans, myself included, are actually de-leveraging like crazy, as are American businesses. The housing market is close to bottom. What is happening, is that we are transitioning to a new type of economy, one that closely resembles the semiconductor industry, i.e. deflation as the norm. The rampant inflation of commodity prices is a reflection of the changing scale of value. In other words, manufacturing cost is approaching zero (because of technological innovation), and so raw materials and creative innovation are the only things left with real value.

This will continue, with global conflicts centering on resource domination, until full scale nano-manufacturing will bring the 1st Industrial revolution and all the associated social structures to a close.



Of course, because the banks have no homes on their books and everybody is promptly paying their note.

Idiot.
 Quoting: Anonymous Coward 1179491

Default is the only thing deleveraging Americans.

[link to www.zerohedge.com]

"Okay, so 6 million American homeowners are not being super frugal about either paying their mortgages or saving the money for another investment.

But surely the hundreds of millions of other Americans are reducing debt and deleveraging, right?

In fact, as the Wall Street Journal notes today, the overwhelming majority of debt reduction by consumers is not due to voluntary debt reduction, but due to defaulting on their debts and having them involuntarily written down by the banks:"
Anonymous Coward
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11/30/2010 11:14 AM
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Re: Ready for Europen Style Austerity America?
ameritards are clueless as to what's coming

Can you be more specific?
 Quoting: Solos99_99


Of course they can't be more specific, that would be outside the purview of the drive by, one line-tard that endlessly repeats the same shit between tokes.
Wiccan Priestess
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11/30/2010 11:24 AM
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Re: Ready for Europen Style Austerity America?
I'm ready for it. When they parasites riot near my neighborhood, I'm gonna fuck em up.

It won't be long, the unemployment parasites and the EBT Card parasites will be out in force when their gravy train drys up. It will be a target rich environment.

The police may use rubber bullets but I have 00 buckshot.
Solos99_99 (OP)

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11/30/2010 11:54 AM
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Re: Ready for Europen Style Austerity America?
I have no desire to fight my fellow man. I would much rather see the anger pointed where it belongs, not at our neighbors. That said, I will defend me and mine.
Solos99_99 (OP)

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11/30/2010 12:52 PM
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Re: Ready for Europen Style Austerity America?
Don't Raise the Debt Ceiling!





[link to www.campaignforliberty.com]

"As of November 7th, the total U.S. public debt outstanding reached an astonishing $13.7 trillion. This means that although Congress just raised the debt ceiling to $14.3 trillion back in February, the new Congress will face another debt ceiling vote almost immediately next year. Otherwise, the Treasury will not be able to continue issuing debt to fund government operations.

The upcoming vote will provide an interesting litmus test for the new Republican congressional majority, especially those new members closely identified with Tea Party voters. The debt ceiling law, passed in 1917, enables Congress to place a statutory cap on the total amount of government debt rather than having to approve each individual Treasury bond offering. It also, however, forces Congress into an open and presumably somewhat shameful vote to approve more borrowing.

If the new Congress gives in to establishment pressure and media alarmism about "shutting down the government" by voting to increase the debt ceiling once again, you will know that the status quo has prevailed. You will know that Congress, despite the rhetoric of the midterm elections, is doing business as usual. You will know that the simple notion of balancing the budget, by limiting federal spending to federal revenue, remains a shallow and laughable campaign platitude.

Of course congressional leaders-- now Republicans-- will tell America that they plan on balancing the budget soon, but they just need some time. After all, we have to keep the government open, right? We can't have an "mergency" shutdown of vital government services. But somehow Congress always finds money for emergency spending, in the form of supplemental appropriations bills for TARP bailouts, troop surges, and the like. Why is there never an emergency that justifies less spending???

Surely we are facing an emergency debt spiral, as evidenced by the Federal Reserve's recent commitment to buy another round of Treasury debt. It's now quite obvious that the U.S. government plans to inflate its way out of debt, and the world is fleeing our dollar in response. Just 7 years ago Congress raised the debt ceiling to $6.4 trillion, which means the federal government had doubled its indebtedness in less than a decade. Annual deficits for 2011 and beyond are projected to be at least $1 trillion. By contrast, the entire federal debt amassed from the founding of our nation until President Reagan took office in 1981-- a period of roughly 200 years-- was $1 trillion. So it's no exaggeration to state that federal debt is growing exponentially.

I have two simple proposals when the new Congress convenes in January. First, refuse to raise the debt ceiling. Find a way, month by month, for Congress to spend only what the Treasury raises in revenue. Second, start over from scratch with the 13 appropriations bills that fund the federal government. Reject any talk of baseline budgets or discretionary spending. It is all discretionary, and members of both parties should vote against any 2012 appropriation bill that is not at least 10% smaller-- in nominal dollars-- than its 2011 counterpart.

A motivated Congress could begin to slow the tide of debt by taking the simple step of cutting federal spending by 10% across the board for the next few years. Let's hope it does not take the complete collapse of the U.S. dollar to provide this motivation."

Dr. Ron Paul is a Republican member of Congress from Texas.
Solos99_99 (OP)

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12/01/2010 04:41 PM
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Re: Ready for Europen Style Austerity America?
Ha ha, here we go, see it now?
The Monk
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12/01/2010 04:43 PM
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Re: Ready for Europen Style Austerity America?
Americans, myself included, are actually de-leveraging like crazy, as are American businesses. The housing market is close to bottom. What is happening, is that we are transitioning to a new type of economy, one that closely resembles the semiconductor industry, i.e. deflation as the norm. The rampant inflation of commodity prices is a reflection of the changing scale of value. In other words, manufacturing cost is approaching zero (because of technological innovation), and so raw materials and creative innovation are the only things left with real value.

This will continue, with global conflicts centering on resource domination, until full scale nano-manufacturing will bring the 1st Industrial revolution and all the associated social structures to a close.
 Quoting: Ex-AFOSI


I approve this message.
Solos99_99 (OP)

User ID: 1154090
United States
12/01/2010 04:48 PM
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Re: Ready for Europen Style Austerity America?
Americans, myself included, are actually de-leveraging like crazy, as are American businesses. The housing market is close to bottom. What is happening, is that we are transitioning to a new type of economy, one that closely resembles the semiconductor industry, i.e. deflation as the norm. The rampant inflation of commodity prices is a reflection of the changing scale of value. In other words, manufacturing cost is approaching zero (because of technological innovation), and so raw materials and creative innovation are the only things left with real value.

This will continue, with global conflicts centering on resource domination, until full scale nano-manufacturing will bring the 1st Industrial revolution and all the associated social structures to a close.


I approve this message.
 Quoting: The Monk 936918

Because you are a fool. If you are actively paying your debts you are simply paying the bankers more slave money. They fucked you in the first place. Sucker. All we need to do to take back our lives is stop sening/giving them our money.

No paper for me thanks...Give me Silver or I Don't "Work."

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