shygye Posted September 18, 2008 Report Share Posted September 18, 2008 China and India can't escape the downdraft from the slowdown in the USA and EU. Also look at that real estate bubble in China. Link to comment Share on other sites More sharing options...
kamui Posted September 18, 2008 Report Share Posted September 18, 2008 Yup, it seems that USA is taking the global financial market with it on its way down. I presume that the we all have to pay for it very soon, since the rippling effect will spread over into the production of goods and the consumer market, e.g., as well. If the US economy slows down many export countries will be hit hard. Link to comment Share on other sites More sharing options...
.. Posted September 18, 2008 Report Share Posted September 18, 2008 Funny how this only seems to happen when the GOP is in charge. Ignore that all you want, but this is the result of trickle-down, under-regulated BULLSHIT!!!!! And that's 100% GOP, baby. Cheers, SD Link to comment Share on other sites More sharing options...
teddy Posted September 18, 2008 Report Share Posted September 18, 2008 Too true, Barack will sort the mess out but maybe they should bring the election date forward so these wankers can't make things even worse. Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted September 18, 2008 Author Report Share Posted September 18, 2008 Funny how this only seems to happen when the GOP is in charge. Ignore that all you want, but this is the result of trickle-down, under-regulated BULLSHIT!!!!! And that's 100% GOP, baby. Cheers, SD I think you are right on. My 2 cents are "Put a moron at the helm and what can you expect?" Link to comment Share on other sites More sharing options...
mongon Posted September 19, 2008 Report Share Posted September 19, 2008 The dems are in charge of congress but that fact doesn't correlate with Dem dogma that claims its the Republicans who are in charge and in the pocket of that "evil" corporate america. So there is only one thing to do if you are a Dem: ignore the fact that dems control congress. Who do you think received more money from special interests and big business in 2007 and 2008: the dems or the Rs? You may have noticed that the dems brag constantly about their fundraising success and that the DCCC has alot more money on hand for the election (the RNC was actually in the red for quite awhile). The fact is that the dems get far more money than the Rs from corporate America (now that Dems control congress). The facts are stubborn and you should just accept that those facts contradict Dem dogma. Here is what McCain said about Obama in his speech today. I haven't fact checked it maybe someone else can: â??Senator Obama talks a tough game on the financial markets but the facts tell a different story. He took more money from Fannie and Freddie than any Senator but the Democratic chairman of the committee that regulates them. He put Fannie Mae's CEO who helped create this disaster in charge of finding his Vice President. Fannie's former General Counsel is a senior adviser to his campaign. Whose side do you think he is on?â? Source You gotta get past Democrat talking points if you want to understand why the financial system is short circuiting. Link to comment Share on other sites More sharing options...
mongon Posted September 19, 2008 Report Share Posted September 19, 2008 >>this is the result of trickle-down, under-regulated BULLSHIT!!!!!<< Its the result of under-regulation and over -regulation as stated by your nemesis in another thread. And the blame falls on both parties but in the case of fannie and freddie the blame lies mostly with the Chris Dodds and Barney Franks of the world. Link to comment Share on other sites More sharing options...
mongon Posted September 19, 2008 Report Share Posted September 19, 2008 BKKT: >>In a nutshell, would you say one of the contributing factors, if not the main one, why the USA is having so many financial problems, is that the true value of the dollar has dropped dramatically in value and that the primary reason for this is the cost of fighting questionable wars?<< Aside from trade deficits caused in large part by extremely high fuel costs and very dumb decisions by Congress that prohibit domestic oil production; and aside from the exponential expansion of entitlement programs that dwarf the costs of the war; and aside from the insistence that the U.S. gov will spend itself into a budget deficit of $400 billion in 2009 NOT INCLUDING the cost of the war; and aside from the subprime catastrophe that is the primary contributor to current financial woes; my answer is yes, the cost of the war is a definite but small contributing factor (that is, small in relation to the other factors) to the financial problems of the U.S. and a small factor in the dollar devaluation. Don't get me wrong. I think the costs of the war are astronomical, but just not as big as the other factors. Link to comment Share on other sites More sharing options...
Bangkoktraveler Posted September 19, 2008 Author Report Share Posted September 19, 2008 BKKT: >>In a nutshell, would you say one of the contributing factors, if not the main one, why the USA is having so many financial problems, is that the true value of the dollar has dropped dramatically in value and that the primary reason for this is the cost of fighting questionable wars?<< Aside from trade deficits caused in large part by extremely high fuel costs and very dumb decisions by Congress that prohibit domestic oil production; and aside from the exponential expansion of entitlement programs that dwarf the costs of the war; and aside from the insistence that the U.S. gov will spend itself into a budget deficit of $400 billion in 2009 NOT INCLUDING the cost of the war; and aside from the subprime catastrophe that is the primary contributor to current financial woes; my answer is yes, the cost of the war is a definite but small contributing factor (that is, small in relation to the other factors) to the financial problems of the U.S. and a small factor in the dollar devaluation. Don't get me wrong. I think the costs of the war are astronomical, but just not as big as the other factors. The rise in oil prices is directly reflected in the value of the dollar's purchasing power. The dollar's purchasing power is caused by the wars we are involved. Check history and you will find every time the USA is involved in a war, the National Debt soars. When the National Debt soars, the dollar's value drops. Interesting note is Alaska is producing 40% less now then 10 years ago. Coincidence? The USA is producing 50% less oil then it did in 1970. Coincidence? Why are 4 oil USA oil refineries not operating? Why are the USA oil refineries not operating at their max? Could it be that some have found out it is easier to make money by doing less work? As for the 'subprime catastrophe' and other economic woes, is this not a result of the new bankruptcy laws that went into effect in 2005? Did anybody ever think some people would say to hell with it and walk away from their homes? The credit industry thought the new laws would give them more protection. It Didn't! By the way, have you looked at any of the 2005 bankruptcy law changes? Link to comment Share on other sites More sharing options...
Steve Posted September 19, 2008 Report Share Posted September 19, 2008 Mongon, Democrats were the majority in Congress during the '80s. Do they get credit for the '80s or does Reagan? Link to comment Share on other sites More sharing options...
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