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Debt Crises
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#309088 - 10/26/18 06:33 PM Re: Debt Crises [Re: chunkstyle]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 7997
Loc: North San Diego County
Quote:
boards of directors, shareholders and hedge fund managers that have disagreed with that notion for decades


Really? Because I have heard nothing but complaints from companies that they can't find highly skilled people to hire.

I think it's just Republican politicians who want uneducated people.

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#309095 - 10/27/18 03:43 AM Re: Debt Crises [Re: NW Ponderer]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 2153
Loc: Port Angeles, WA
The national debt, and the almost trillion dollar deficit, and the tariffs are taking a toll. The market, right now, is behaving like a car with a weak battery. It starts up, if backs down, it tries, it tries to start up again, it goes on and on until the the battery dies. Right now the battery is starting to die. If any of you are in the market be VERY careful. Add in the historical ability of the Republicans to wreck an economy there WILL be problems. You cannot time this market. You just have to either get out, or wait it out, and this one is going to be a duzy. Gold is already starting a run.

There is also the simple fact that the debt plus deficit, plus the current administration's disrespect for debt itself just might deal punishment to the dollar. When you add in our abandonment of European allies, and the Russian/Chinese long term, and ongoing efforts, to replace the American dollar as the world's currency..........

Just thought I would mention this one - its not going to be a whole bunch of fun..........

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#309101 - 10/27/18 01:43 PM Re: Debt Crises [Re: NW Ponderer]
chunkstyle Offline
member

Registered: 10/02/07
Posts: 1076
I agree JGW. The debt is a ticking time bomb that could ultimately be a gift, as it's designed to be, for republicans and a hair coat for democrats as the 2008 recession was.
If the democratic corporate wing's behavior as minority party is anything to go buy I think it will be a hard landing for most Americans. At least we can look forward to Schumer shuffling his way down to a gas pump somewhere and demand the president to 'bring down these gas prices!' aping Reagan at the Berlin Wall.
Household debt, historically high mortgages as a % of average household income and the foreclosure of futures due to non dismissable student debt all seem to contradict and economy built on consumption and empire.
Another large problem is the destruction of described benefit pension plans. Were all in the market to save and protect any savings set aside for old age. Everyone is atomized into 401's and IRA', that are capable of saving. The current valuation of the market to the GDP makes me nervous.


Edited by chunkstyle (10/27/18 02:05 PM)

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#309102 - 10/27/18 01:46 PM Re: Debt Crises [Re: pondering_it_all]
chunkstyle Offline
member

Registered: 10/02/07
Posts: 1076
Originally Posted By: pondering_it_all
Quote:
boards of directors, shareholders and hedge fund managers that have disagreed with that notion for decades


Really? Because I have heard nothing but complaints from companies that they can't find highly skilled people to hire.

I think it's just Republican politicians who want uneducated people.


So why did carrier leave those workers high and dry in Indiana after getting tax concessions PIA?

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#309108 - 10/28/18 03:52 AM Re: Debt Crises [Re: chunkstyle]
Greger Online   content

Pooh-Bah

Registered: 11/24/06
Posts: 14366
Loc: Florida
Quote:
So why did carrier leave those workers high and dry in Indiana after getting tax concessions

Because they can get the sh*t built cheaper somewhere else. America's role in the new global economy might not be in manufacturing.
_________________________
"Be yourself; everyone else is already taken." Oscar Wilde

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#309109 - 10/28/18 01:24 PM Re: Debt Crises [Re: NW Ponderer]
chunkstyle Offline
member

Registered: 10/02/07
Posts: 1076
Exactly. An empire who's manufacturing will be done in its low wage vassal states while it's own economy becomes dominated by the FIRE economy.
How's that been working out for the middle class?
Perhaps it's all the natural order of things for jobs, capitol and assets to go abroad. It's gods will. The invisible hand, etc... You can't do anything about it. And so what if the gobs of profit selling those products back home go largely untaxed, producing more burden of taxation on the ever shrinking middle class. It's the economic natural order, were told.
When AI becomes a threat to the livelihoods of the 'ladders of opportunity' set I think the economic savaging of our domestic industries and communities will be viewed much differently.


Edited by chunkstyle (10/28/18 01:36 PM)

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#309111 - 10/28/18 01:33 PM Re: Debt Crises [Re: NW Ponderer]
chunkstyle Offline
member

Registered: 10/02/07
Posts: 1076
The NLRB just made the picket line unlawful.
Gods will again.

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#309118 - 10/28/18 07:48 PM Re: Debt Crises [Re: chunkstyle]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 2153
Loc: Port Angeles, WA
Just a thought. "non dismissable student debt" is a subject worthy of its own place under "The Republican Fix of the Bankruptcy Law". They did this several years ago and it was pretty straight forward. If you have debt to either Government OR A Bank - you must pay it back, there is no get out free card, there are no excuses, you pay it back or live with it for the entire rest of your life. This was a wonderful solution to uppity poor trying to improve their lives and its worked wonders!

This one is akin to the law passed, again by Republicans, many years ago at the behest of the banking industry. The logic was infallible. Personal information belongs to the person to do with what they will. This means, the banks said, that they did have personal information on clients but they got that information freely from the persons themselves. This being the case they certainly should not be held responsible for an action performed by the person themselves. The congress, in its infinite wisdom bought that one, hook link and sinker, and actually extended the law they passed to include ANYBODY holding the personal information of others.

We live with this one every day but obviously, nobody, on either side, gives a damn, considers it as a problem, or even bothers to challenge the flawed logic.

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