maple_leafs182

looks like the markets aren't responding too well today, lets wait to see how many jobs the US added to see if there will be another large sell off tomorrow. I think it will only be a matter or weeks or months before some form of QE3 is announced.

This site needs better moderators, talking about gated communities has nothing to do with raising the debt burden...I mean ceiling.

Not me, I bash both Canada and America, both failures in my eyes.

Free market economy I'm not but the global economy is. Probably not enough.

America shouldn't be responsible for what happens in the world but do to certain events it holds the position it does today. There is a reason I want to end thing like central banking, the IMF, the World Bank, the BIS, fiat currencies. I don't want the economics of the planet controlled by a few.

They should default on there obligations.

I wish they would focus more on the debt itself rather then the debt ceiling. I don't know why they think creating more debt will solve any problems.

The US will default, it will simply default by paying its debts with cheap money

The social programs are a big problem, social security is nothing but a ponzi scheme, it can't work. As for the wars, they should end them, they should also end the war on drugs and get rid of the DEA. There are many areas that need to be cut, I would suggest getting rid of the CIA as well, the CIA is nothing but a terrorist organization.

You don't understand what the tea party is about at all. You clearly don't understand how inefficient government is. Spending billions of dollars on programs to help the poor ends up hurting the poor. These programs become so massive they need to be paid for using debt which eventually leads to inflation when the Central Bank is forced to print currency to service and buy up that debt. This resulting inflation hurts the poor because they have to pay higher food and energy prices. I understand the whole "it's the right thing to do" thing and I thing we should just be helping each other but acting like state socialism is some sort of answer shows your ignorance towards economics.

I guess...our government isn't any better.

Holy f**k guys, who cares who is to blame, all that matters is this years budget.

It isn't that they lack an understanding, they just don't agree with what the current role of government is, it is an ideological battle. In my eyes the debt ceiling should not be raised but it most likely will be.

How so?

Ya, that is pretty much what would happen, I personally think the US is getting close to that. I know the NDP really doesn't understand economics but the conservatives aren't a viable alternative either. Instead of spending that money to help people they will spend it on expanding prisons, wars and the military. That is why we can't use fiat currencies, governments always end up abusing them. They push us so far into debt and we end up spending tens of millions of dollars a day just serving that debt. Paper money has never worked long term and it never will, it can't.

I never offered a grand social plan or scheme.

It is just clear to me that the inflation associated with fiat money hurts the greater majority.

Good quote. Milton Friedman was also against central banking. When you guys say redistribution of wealth you guys keep referring to socialism or government redistributing wealth...That is state socialism and not true socialism, yes state socialism doesn't work. Real socialism is the workers movement, unions and all of that. That is what we need, we have the owners and CEO's of these big corporations making stupid amounts of money while all the labourers settle for crumbs. That needs to change. Also you guys really need to look at the monetary system and fiat money. Having a central bank manipulate the economy while inflating away our savings is the reason for a lot of this income disparity. Look at the US prior to fiat money, they were one of the most egalitarian countries in the world. Now they have one of the highest income gaps in the world, there is a correlation between the two.

Fiat money is a big part of the problem, it transfers wealth to from the middle and lower classes to the upper classes threw inflation. The greater majority of us are getting screwed over by our monetary system but almost everyone here swears by it.

I guess I'm mental...how did the US ever survive before homeland security. A lot of that ste the Department of Homeland security does it doesn't need to be done and some of it is unconstitutional. What does need to be done can still be done. Let the states be in charge of there education, get the federal government out of education. If there are any necessary services they can be moved to a different department. Not to mention that the Department of Education has made test score fall since it was created. Governments are inefficient. What would you recommend the US do? Keep going down the same road they are going down and wait till there is another economic down turn before taking any real action. What about the month after that, or the month after that, or a year or 2 from now. How will they pay for everything then? More and more debt won't solve the problem, eventually they will hit a lending limit...China will not always be there to buy up bonds. Maybe the US should cancel its trillion dollar+ debt it owes to the Fed. It is technically money it owes itself...wait, private banks own the fed and they get a 6% annual dividend from it. I don't think they would be happy with that but there is one trillion dollars that can go just like that.

They have to rethink their foreign policy. End all the wars, close many of the bases, bring their troops home. They have to eliminate many of the departments such as the Department of Education and Homeland Security. They need to allow young people to opt out of SS because it is a flawed system. They need to rethink what the role of government should be. We should too. Raising the debt ceiling won't solve any problems.

There hasn't really been a free market for about 100 years. Also, Karl Marx didn't agree with many Marxist movement. What people did in his name is on them, not Marx. Don't get me wrong, I don't think the free market will save us all but if one existed it would generate a more egalitarian economy which I think would benefit us.

America will survive but they will have to suffer greatly, the only question is when. They can either admit they are bankrupt and allow the correction to occur or continue to stimulate the economy which will only temporarily delay the inevitable. Going into more debt will not solve the governments problem of being in too much debt.

I think you have it wrong. They are not trying to cure the disease, they are focusing on the symptoms rather then the disease itself. It would be foolish for them to continue spending and borrowing. There needs to be a correction in the market, yes it will be extremely painful and a lot of people will suffer but it is necessary. Some times medicine tastes bad but you have to take it. If they continue on the path they are going down, then they are headed for a bigger problem because the dollar will collapse.

There is no US economic growth. They are some of the few in congress who understand how the US got to the problem they are in now.