Article

2011-08-07 Economy

If we are to survive the looming catastrophe, we need to face the truth

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Posted by 2011-08-07 10:53|| || Front Page|| [6 views ] Top

#1 The hardest obstacle to overcome will be the idea that anyone who challenges the prevailing consensus of the past 50 years is irrational and irresponsible. That is what is being said about the Tea Partiers. In fact, what is irrational and irresponsible is the assumption that we can go on as we are.

So the conventional wisdom that the Tea Party is a terrorist organization is rooted in fear? Or terror? Izzat what is called "projection"?

Posted by Bobby 2011-08-07 15:12|| 2011-08-07 15:12|| Front Page Top

#2 So the conventional wisdom that the Tea Party is a terrorist organization is rooted in the ancient phenomenon of "Give a dog a bad name and hang him" - the favorite tool of the MSM.

Posted by Anguper Hupomosing9418 2011-08-07 15:31|| 2011-08-07 15:31|| Front Page Top

#3 Both the USA and the Euros are undergoing a catastrophe that is taking years to unfold. That's where we're both going. Still, many things can be done to mitigate and survive the disaster, although virtually nothing constructive has been done, and what constructive suggestions have been made are being hooted down by arrogant nitwits.

Posted by Anguper Hupomosing9418 2011-08-07 15:34|| 2011-08-07 15:34|| Front Page Top

#4 Speaking of arrogant nitwits, Democrat Maryland Governor Martin O'Malley today on ABC This Week: We need a balanced approach, and the extremism, the Tea Party obstructionism here in Washington, is keeping us from restoring that balanced approach that America's always used.

Posted by Anguper Hupomosing9418 2011-08-07 15:44|| 2011-08-07 15:44|| Front Page Top

#5 Another take on this same issue, by Daniel Goldman aka Spengler: More drivel has been written about the probability of financial crisis during the past month than at any time during my lifetime. Theres no crisisnot when all of the problems are transparent, on the table, and subject to negotiation. Instead, there is a change in lifestyle underway for Greek railway conductors, Minnesota firemen, New York City teachers, and a great many other people. Folk who only a few years ago expected to retire at sixty and spend their golden years on cruises will work until seventy and be thankful for a roof over their heads. Persuading so many people to accept this sort of change in lifestyle is not easy. It requires a bit of drama and the display (and occasional use) of instruments of torture. But there is no mystery, no surprise, no blind side.

Posted by Anguper Hupomosing9418 2011-08-07 15:58|| 2011-08-07 15:58|| Front Page Top

#6 AH you nailed him. Governor Martin O'Malley is the biggest tax and spend Democrat or one among many. First time he was elected he raised taxes. I told a guy before he voted that would happen. Doesn't seem to matter to them. The economy of Maryland has benefited from all the government business and workers living in Maryland. They still will spend it faster than they can take it in.

Posted by Dale 2011-08-07 17:22|| 2011-08-07 17:22|| Front Page Top

#7 Janet Daley seems to get it. Our economy is not sustainable as it is going.

Contrary to what the Obama Democrats claimed, the face-off in Congress did not mean that the nations politics were dysfunctional. The politics of the US were functioning precisely as the Founding Fathers intended: the legislature was acting as a check on the power of the executive.

The Tea Party faction within the Republican Party was demanding that, before any further steps were taken, there must be a debate about where all this was going. They had seen the future toward which they were being pushed, and it didnt work. They were convinced that the entitlement culture and benefits programmes which the Democrats were determined to preserve and extend with tax rises could only lead to the diminution of that robust economic freedom that had created the American historical miracle.

And, again contrary to prevailing wisdom, their view is not naive and parochial: it is corroborated by the European experience.

The Obama administration has been whining and casting blame since the 2009 inauguration about the economy it inherited. Meanwhile, it continued without a budget and it ran up the debt at a record rate in 2-1/2 years--a rate far greater than any President in history. The current economic situation is different than any we have faced. Obama's minions have been saying that raising the debt limit has been routine for every previous President but not for him implying he is being treated unfairly and differently--subtly implying an underlying racism. I wish Obama were white, I'd excoriate him six ways to Sunday for the harm he has done to the country, without fear of being dismissed as a racist. As I recall Bush was criticized harshly by conservatives for his handling of the economy during the last part of his second term.

Posted by JohnQC 2011-08-07 18:38|| 2011-08-07 18:38|| Front Page Top

#8 ...yes, they the unholy media seem to forget the Porkbusters who targeted Trunks in the latter portion of the Bush II era.

Posted by Procopius2k 2011-08-07 19:12|| 2011-08-07 19:12|| Front Page Top

#9 Just another 16 or so trillion out the back door of America in the stop and rob fashion to the euro doers.

Posted by Flaith Cloluter5257 2011-08-07 20:24|| 2011-08-07 20:24|| Front Page Top

#10 D *** NG IT, clearly Janet is going Nutty because I know for a fact neither POTUS BAMMER NOR THE US CONGRESSCRITTERS NOR WALL STREET NOR S & P, ETC. HAVE EVER E-V-A-R! OFFICIALLY USED THE LABEL "SOCIALIST WELFARE STREET" IN ANYTHING!

But I digress ...

* PEOPLE'S DAILY FORUMS > S & P: US FACING [1-in-3 Odds of] FURTHER CREDIT DOWNGRADE, to potentially lower than "AA+" oer next 6-24 months iff POTUS-GOP-DEM POLITICAL GRIDLOCK CONTINUES.

EOY 2011 versus 2013.

* SAME > CHINA [bluntly] CRITICIZES US "DEBT ADDICTION".

ARTIC > XINHUA = The US Govt. MUST ACCEPT THE PAINFUL FACT THAT THE GOOD OLD DAYS WHEN IT COULD SIMPLY BORROW ITS WAY OUT OF MESSES OF ITS OWN MAKING ARE FINALLY GONE.

China also urges the US to seriously cut USDOD + PUBLIC WELFARE EXPENDITURES.

* SAME > ALL PILLARS OF THE OLD ORDER OF THE WESTERN WORLD [includ US] ARE NOW WOBBLING.
> SSSSSHHHHHHH ... [overcommitted] US-WESTERN WELFARE STATE(S).
> ECON GROWTH = Flagging; + increasingly Aging Populations wid decline in avaliable Replacement Workers due to low Birth Rates.
> GLOBAL TRADE + FINANCING that no longer serves the Common = Mutual Interests of groups of Countries, as oppos to One or Few Select States.

[IRAN's AHMADINEJAD here].
* RENSE > [True] US NATIONAL DEBT IS REALLY US$211.0TRIYUHN |[NPR.org] A [true] NATIONAL DEBT OF US$14.0TRILYUHN? TRY US$221.0TRILYUHN.

OUTSTANDING OR INDIRECT "UNOFFICIAL DEBT" OBLIGATIONS not confirmed or denied by the US Govt.

* DAILY TIMES.PK > US LAWMAKERS TRADE BLAME FOR CREDIT DOWNGRADE.

Posted by JosephMendiola 2011-08-07 22:38|| 2011-08-07 22:38|| Front Page Top

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