Just read this artcile about the new tax cuts due to come in on March the 1st..... And it looks like Obama can't do anything about it..... Only a few days to go! http://www.chinapost.com.tw/business/americas/2013/02/22/371018/US-economy.htm
:lol: You're shi**ing me! Reduction of - US$55 billion on defence - US$27 billion on nondiscretionary Yep. That'll put a HUGE dent in the $1.1 trillion dollar deficit. The economy is turtled if they cut by such a massive amount :lol:
Very interesting times. Have not seen it posted. Someone will let me know if it has. http://www.zerohedge.com/news/2013-02-25/chart-everyone-concerned-about Its the second chart that I find the most interesting especially the comment. "The last few times that VIX has seen such a 4-day low-to-high risk-flare were extremely significant events..." Cheers markcoinoz
You need a sarcasm smiley BS :lol: http://www.realclearpolitics.com/vi..._federal_workers_cut_foreign_aid__travel.html [youtube]http://www.youtube.com/watch?v=exrFOQyFsHU[/youtube]
Yep, sarcasm smiley required. Yesterday I actually sprayed my tea when I saw what a pitiful, irrelevant thing it was but was portrayed as the end of the world. On the up side at least the (miniscule) sequester is going to "hit" the bits that Congress can't easily touch. :/ :lol:
It may be a drop in the ocean, but that money is paying for tangible things in the economy like jobs. If less is being spent on defense, what's the first thing to go in cost cuts? The government can't afford to stop the gravy train.
Exactly. Lots of ordinary people making their living from that money. Military and all it's subsidiaries is a huge part of the economy. Many big companies have arisen to provide for the military and there are lots of jobs there. There isn't really much, in a political sense, that the government can cut. That's why it's just going to keep running until a major crisis hits and all these things along the way are mere sideshows to the big event. EDIT: I look forward to the day because I think ultimately that the US Government going broke will be a good thing for the world as a whole in the long-term. Even though it will cause short-term distress to many people. That institution creates far more harm than good. It's got to go.
Here's an analysis article on whats really going on..... There's quit a few jobs at stake if this really happens. I actually ecstatic that finally we have some real changes going on over there..... Am so interested in seeing how much this Sequestration effects the U.S and the rest of the world too. http://www.canada.com/Analysis+United+States+latest+crisis+government/8019436/story.html
^ God damn, the rhetoric and bulldust is tedious isn't it? They definitely have no respect for the average American and think they are complete dumb arses.
Fitch says it wont downgrade U.S after the new tax cuts. http://www.bloomberg.com/news/2013-...r-u-s-aaa-rating-downgrade-fitch-says-1-.html
Good i hope it happens. i can't stand obama... all he does is blame things on everyone else, which is what's going to happen if this does happen.. He says "congress won't work with me." The only way to work with obummer is if you agree to every single thing he wants.. He's a monarch. He recently just let 1000+- illegal immigrants, waiting to be deported, go from jail before anyone is even sure if these spending cuts are going to happen. Funny thing is that the illegals had to swear they'd come back to be deported if the sequester doesn't go through LOOOOOOOL. Obummer makes this out as if this sequester is the end of the world. It's not. I'm not for things hurting the economy but if it's best in the long run then it's good to hurt us now than have things impact us in a more severe way further down the road
Well at least there are finally getting things done about all their troubles even if it is just some small changes...... I read it will cost 750,000 jobs in total they're saying. Thats alot of jobs!
750k this year. I wonder how many it will cost next year if things get worse with the other problems we have.
This artcile suggests Fitch may infact downgrade the U.S after all..... http://www.usatoday.com/story/money/business/2013/02/27/fitch-aaa-debt-rating/1951585/
Military Power is the only defence of the USD. During the height of the Iraqi liberation the cost was reported to be $1.5 Billion per day. You could look at that as a wise investment, after all, now they have first dibs on all that black gold. Proving that if you have the power/patriotism & the willingness to fight to keep it, then you can keep printing the fiat. Rome lost the will to do the same 800 years back & the result is history.
D'OH! http://www.news.com.au/business/no-...it-global-growth/story-e6frfm1i-1226588138133 http://rt.com/op-edge/us-sequestration-could-have-been-avoided-deutsche-bank-chief-economist-641/ http://www.voanews.com/content/senate-rejects-sequester-alternatives-sequestration/1612978.html
So when will we start seeing some changes in the worlds economy due to all these spending cuts? Or is it just a drop in the ocean on the larger scale of things?
So you don't think it will make much difference to world wide economies etc.... Apparently it will cost 750,000 jobs!
