U.S Government Debt Crisis !!!

[hillmar]

Originally Posted by hirevtuner

what does that mean?

raise the debt ceiling and have another crisis in 6 months (back in their old ways) or they found a new solution?

All I know is it's going to be set for over a year, and there are going to be some big gradual cuts listening to what the president said.
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[Gt-R R34]

BTW - you know this is passing.

And what did I say

Lawmakers to vote on last-minute debt deal - Yahoo! News

Picked up some stocks last couple of weeks, time for a good run today and sell!

[taylor192]

Originally Posted by hillmar

All I know is it's going to be set for over a year, and there are going to be some big gradual cuts listening to what the president said.
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I doubt that. All cuts are backloaded, which means whoever wins the 2012 election has to worry about making them, which I think Obama knows he won't win.

[Death2Theft]

Just curious if anyone knows at what point of wealth is it better to be in the states than to be in canada? I'm referring to warren buffet saying he pays less % taxes than his secretary.

[Culverin]

America needs to learn a thing or 2 from blizzard.

[g604]

This is my take in this. With all the money the US spent on war with Iraq they could of used those funds to mine asteroids for precious metals

[hypercube]

Originally Posted by Culverin

America needs to learn a thing or 2 from blizzard.

could u elaborate on that meme? what illegal goods is it talking about in diablo 3?

[Graeme S]

@death2theft: none. If you are a Canadian citizen you pay Canadian income tax. Generally speaking you get credits from taxes paid in the country you reside (so if you get a green card in the states, you reside and work there, pay taxes there and then file taxes here owing the balance to Canada) unless you declare yourself a nonresident, which would mean you have to divest yourself of all real estate and some other investment platforms, in which case you pay no tax.

@hyeprcube: this refers to the fact that blizzard has clued into the fact that people used to ebay epic weapons armor accessories and sets, and that it is really impracticable to fully ban the activity; they ae therefore setting up an in-game auction house for people to sell stuff either with in-game gold or a separate auction house with real-world money. I believe Culverin is implying that you can't stop people from doing things like drugs, so you might as well legalize them and at least make money by taxing them.
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[cressydrift]

It sucks that America needs to be economically healthy for the world economy to be healthy. I am sure the economy will come back, because people can't hold off big purchases or saving forever, but the American Congress needs to control spending. When tax revenue finally goes up they have a balanced budget. The problem is the common American doesn't give a shit about a balanced budget, and with the re-election coming up I feel that the same problem is going to keep rearing its ugly head.

I knew they would take out more debt, but I think most people involved in Business, Economy, Banking etc realize that this is worse than taking the hit and the markets are reflecting that right now.

[AlphaKappa]

Originally Posted by cressydrift

They have reached there debt ceiling of 14 trillion dollars.

their*

[taylor192]

Originally Posted by g604:7532249

This is my take in this. With all the money the US spent on war with Iraq they could of used those funds to mine asteroids for precious metals

They could have built enough renewable energy sources to power the entire country and built high speed electric rail throughout the country and put/expanded subways in every major city with money left over.

That would make America great, instead of waging war and destroying America's reputation.

[gdoh]

Originally Posted by Culverin

America needs to learn a thing or 2 from blizzard.

this should be done for marijuana they would save billions and free up much needed space in the prisons

[zulutango]

[QUOTE=taylor192;7533043]They could have built enough renewable energy sources to power the entire country


Have you priced the cost of the 'renewable energy sources'? Many time more expensive than conventional, very inefficent and not constant in supply...eg wind/solar. In places where they did what you suggested they have experienced huge cost in creases and unreilable source supplies.

Siemens to use green energy hoax to ripoff taxpayers

Green Energy Reality Looming For CA | CalWatchDog

[Graeme S]

Originally Posted by zulutango

Have you priced the cost of the 'renewable energy sources'? Many time more expensive than conventional, very inefficent and not constant in supply...eg wind/solar. In places where they did what you suggested they have experienced huge cost in creases and unreilable source supplies.

Siemens to use green energy hoax to ripoff taxpayers

Green Energy Reality Looming For CA | CalWatchDog

Renewable energy is a bitch right now, and some of the renewables have ridiculous side-effects. Solar panels in the desert are resulting in hotter than usual temps because the black surface absorbs heat (along with light) resulting in greater than usual airflows and the associated weather issues. That part is kind of a bitch.


At the same time, renewables will be necessary. There will come a time (probably in several generations) when there are no more radioactives or petroleum sources that are easily/economically accessible. Hydrogen power is potentially an awesome source of energy for the future...once we can figure out how to economically remove it from everything it's attached to.

I really wish both the greenies and the conservatives would just fucking man up and realize that nuclear power (once engineered with today's technologies and safety plans based on the failures of the past) is a seriously workable alternative that we can use to bridge the gap for the time being. Don't like air pollution? Don't like coal miners dying? Problem solved!

[taylor192]

Originally Posted by zulutango

Have you priced the cost of the 'renewable energy sources'? Many time more expensive than conventional, very inefficent and not constant in supply...eg wind/solar. In places where they did what you suggested they have experienced huge cost in creases and unreilable source supplies.

Siemens to use green energy hoax to ripoff taxpayers

Green Energy Reality Looming For CA | CalWatchDog

You need to read about Ontario's renewable energy subsidizing debacle! They have to sell excess supply at below market rates to dump it off the grid while taxpayers are on the hook for its 10x market rate cost.

Yet... that's cause the market price includes capitalizing the cost of the infrastructure. My argument is that all the money spent on the wars could've built the infrastructure, then the market cost would be just to maintain these renewal sources, and much more comparable.

Which would you rather see? a bunch of solar panels, wind turbines, wave generators, and current turbines... or a devastated Iraq and Afghanistan?

[zulutango]

How about neither? Tell Osama and Algore we don't want either of their lines of BS.

[Great68]

Originally Posted by zulutango

How about neither? Tell Osama and Algore we don't want either of their lines of BS.

Do you think they care what a bunch of Canadians think?

[unit]

what a bomb of a day for the markets!
worst day for the dow since the credit crisis 3 years ago

[Jermyzy]

How much more will it drop do you think? I added some more of dividend paying stocks that I have to my portfolio today.

[stylez2k4]

Originally Posted by Graeme S

Renewable energy is a bitch right now, and some of the renewables have ridiculous side-effects. Solar panels in the desert are resulting in hotter than usual temps because the black surface absorbs heat (along with light) resulting in greater than usual airflows and the associated weather issues. That part is kind of a bitch.

I really don't think solar panels are all that attractive in terms of a long-term solution for renewable energy. The panels itself degrades significantly over time and the materials used to produce the panels aren't cheap either and needs to be mined out.

One proposal I think promise is concentrated solar power towers Solar power tower - Wikipedia, the free encyclopedia

At the same time, renewables will be necessary. There will come a time (probably in several generations) when there are no more radioactives or petroleum sources that are easily/economically accessible. Hydrogen power is potentially an awesome source of energy for the future...once we can figure out how to economically remove it from everything it's attached to.

Hydrogen isn't a means to produce energy. It is just a way of storing it. Unless you are referring to nuclear fusion power-plants which are 50+ years away.

I really wish both the greenies and the conservatives would just fucking man up and realize that nuclear power (once engineered with today's technologies and safety plans based on the failures of the past) is a seriously workable alternative that we can use to bridge the gap for the time being. Don't like air pollution? Don't like coal miners dying? Problem solved!

The public perception of nuclear power is too far down the gutter for any progress to be made in that field for at least the next 10-15 years.

[Graeme S]

Originally Posted by stylez2k4

I really don't think solar panels are all that attractive in terms of a long-term solution for renewable energy. The panels itself degrades significantly over time and the materials used to produce the panels aren't cheap either and needs to be mined out.

I agree solar panels aren't. They're inefficient and expensive and just don't do well. But they're also one of the first things people think of when they think "renewable". Technically speaking, burning trees is just as renewable as anything else--we grow more as we cut them to burn them. I don't think that's quite what the enviromonkeys have in mind.

Hydrogen isn't a means to produce energy. It is just a way of storing it. Unless you are referring to nuclear fusion power-plants which are 50+ years away.

Indeed it isn't. But if you ask the average layman, they'll talk about hydrogen cells and the like, acting as though it were a power source much as gasoline or other combustibles. Hydrogen fusion is a nice dream...but like you said it's a generation away.

The public perception of nuclear power is too far down the gutter for any progress to be made in that field for at least the next 10-15 years.

Sadly, yes.

[AWDTurboLuvr]

U.S. AAA Rating Reduced by S&P on Deficit Reduction Pact - Businessweek

Ruh-roh.

[tool001]

Check out who US owes money to


Among top foreign creditors, China is followed by Japan ($ 912 billion), the UK ($ 346 billion), Brazil ($ 211 billion), Taiwan ($ 153 billion), Hong Kong (122 billion), Russia ($ 115 billion), Switzerland ($ 108 billion), Canada ($ 91 billion), Luxembourg ($ 68 billion), Germany ($ 61 billion), Thailand ($ 60 billion), Singapore ($ 57 billion) and India ($ 51 billion).

Countries with lower exposure than India include Turkey, Ireland, South Korea, Belgium, Poland, Mexico, Italy, Netherlands, France, Philippines, Norway, Sweden, Colombia, Israel, Chile, Egypt, Malaysia and Australia in the respective order.
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[TheNewGirl]

How much is owed to China? I know it's over a trillion but now how much.

This is an insane amount of debt though.

[shenmecar]

that is crazy amount