Comments for The 1.5 Trillion Deficit per Year. Still You Say The Rich are Different? »
Posted By WikiMap 6 months, 1 week ago in NewsF. Scott Fitzgerald told us decades ago that the rich are different. Pimco’s Gross passes on those sentiments with a few comments in his latest INVESTMENT OUTLOOK for June. He observes that it will be much more difficult to get “filthy rich” using other people’s money now due to all the new burdens of regulation, deleveraging, taxation increases and limits on how much one can make.
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donald516 months ago
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Wolf, you idiot! Its been repugs who controlled congress since 1994 until Dumya finished his second four years..... and to go back further it was repug presidents in the 1980s who tripled the deficit.... and then Dumya had to ask Congress to allow a deficit to 11 trillion.... all facts you can't avoid you un-American puke! ONly leader in history to drop taxes while at war - DUMYA!!!!!!!!!!!!
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Klarissa6 months ago
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"Gross reports that we have a conservative debt ratio for the US of 45%. With these liabilities (the 1.5 trillion deficit per year), that will rise to 100% quickly.
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How do we pay for this? Will China buy our bonds? Does anyone want them any longer? No, they are looking elsewhere to diversify.
China is buying gold, and buying goods from other nations. To accommodate this debt level, interest rates will climb in Treasury bonds. We see that now.
The dollar will continue to weaken. It is at its lowest levels in months. The Federal Reserve will continue to buy up 400 billion in Treasuries and Agency bills each year. The balance sheet gets more unbalanced. What to do? Balance the budget as the economy gets going.
We cannot sustain this level of debt."
China and other countries are trading US bonds to get more control of the IMF. We are going to be in deeper doodoo. -
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cindycnlv6 months ago
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well it seems to me that aol is biased .... why is there not a story about the congress holding hearings on the stealing of dealerships so i will use this to pass on all the numbers of the hearing members call call and tell everyone you know
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greg waldon 202-225-6730 john dingell 202-225-4701 rep barton 202-225-2002
bruce braley 202-225-2911 rep burgess 202-225-7772 diania degette 202-225-4431) rep doyle 202-225-2135 betty sutton 202-225-3401 bart stupak 202-225-4735 call and keep calling and tell them to stop stealing private business please copy and send to everyone you know tell them to vote Yes on HR2743 -
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Dave596 months ago
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Much the same could be said for Fox News . MSNBC has some prizes but for overall stupid I can always watch Fox and Friends or Cavuto. I've heard it said that if you are a total failure in the politics of the right you have a for sure job at fox. I note Karl Rove and Mike Huckabee. So if you are going to hammer networks for bending one way or another politically maybe you should look around, your favorite news channel might just be getting some laughs.
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The thing about that is a whole lot of people out here where I'm at aren't laughing at the Fox network. They are actually laughing at the people who watch it. -
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Dave596 months ago
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Actually hard work is not to be joked about. I have done very hard work in mines and quarries for 35 years. The thing you may be missing however is that if you invest wisely and buy stocks with good value you are actually supporting those companies that have sold the stock. It may be in a company you work for or not. However you are basically loaning them the money to operate. If you get money in return it is not on the back of anyone. It is the reflection of the fact that the company you invested in made money. The reward for this is that you as well as the company made money. By the same token if they lost so might you.
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Thanks for nothing is a pretty stupid thing to say though. If you did indeed get your money from hard work and your self then that money came from somewhere did it not? Who paid you for that work? You obviously worked for someone or some company. Just what is the difference between investing in a company and raking off profit when they make money and working your butt off and getting paid a check?
Anyway one looks at it we have all ridden someone's coat tails and taken profit from whomever we worked for weather it be for a pay check, stock options or return in kind.
Only a fool thinks he or she is an island unto themselves. -
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Icantwait6 months ago
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My Fellow Americans: You must have more faith in your President. He promises that in just one month the economy will turn around. When has he ever lied to us?
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You know as well as I that the automakers were ripping off the average people. You must have seen that after he invested our money into those companies that their leadership could not get them back on track. The Government had to take them over. You must realize that only the Government knows what's best for these companies. Now, that President Obama is in charge of them, (you know he don't want to be), he has decided they need ("Change"). That change is a new selection of smaller cars. Trucks and Suvs don't sell anymore, they burn too much gas, they are to big for the smaller highways we are going to build, they hold to many groceries, too many kids, Hey People, Obama knows Best.
Quit worrying about the almost 2 trillion dollar debt. He has plans to balance the budget before his first term is up. He still hasn't gotten all the money the rich have hidden yet. Although, Hollywood actors, and actresses could perhaps get us closer to balancing the budget, (eventually), he can't really touch their money because who would come to his Wednesday Night Parties.
Then of course we have all the million dollar sports stars that also help to get him elected. Can't touch their money either because he don't want to be banned from his sports addiction.
Just listen to Obamas, Media For Hire, when they report on his speeches about our selfishness and on how we must make some sacrifices if the economy is going to right itself. We still have the best money printing machines in the business of running a Country.
Finally, I know his Health Care Plan will work out all the kinks in our failing medically corrupted system. It will also turn the economy around by creating jobs. Eventually, after all the deadbeat old people get refused their care and slowly die off we will need less money for the system. I tell you he really know what he is doing. The Real American -
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wnzb6 months ago
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There has been to much low income immigration along with high income baby boomers leaving the work force, and it is just going to get worse.
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People make more in their later years, more and more of those people are retiring. Low income workers are coming into the country. Along with increases in government spending, and decreasing wages, I'd say we have a disaster coming.
Obama's programs haven't helped the economy though they may make it look better short term. In the long term his programs are adding to the underlying cause of everything wrong with our economy. The major cause of it all is a government that does a terrible job. A responsible government would have thought long term about immigration, social security, and so on. Instead they promote low income immigration, fail to responsibly regulate banks and industry, and all in all give less and less reason for people to be productive. If government, Congress mostly, and both parties at that, had done what they are there for the banks and business would have been better regulated, so ultimately it is Congress's fault. -
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Hallucinations6 months ago
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What we all need to remember is the decline in quality of living started with Bush. Now I'm not saying its all Bush's fault. But it began there with Bush. I personally believe that our moral decline is also causing our problems if you believe in a higher power. Morality is a big thing. Plus the decline in spirituallity has to me as a Christian is affecting us. All I know is if you believe in a higher power we need to believe in the power of prayer for our leaders. Because right now its needed more than ever.
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CHAM6 months ago
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As I read these comments blaming the left or blaming the right, I wonder how the people of America can be so blind as not to see that the Party doesn't matter to the powerful, they own both Parties. They (the Powerful ) are going to stick it to you for their benefit and for their friends benefit and point one finger at the left and one finger at the right, and let both sides fight it out while they continue to plunder.
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While you are distracted fighting the strawmen, the powerful, those that actually run the country, nibble away more of your freedoms, which by the way does include your financial future.
We American people are in danger of becoming Financial Slaves of the powerful and instead of uniting and fighting the root cause, the left blames the right and vice versa.
I suppose we deserve the beating we are taking. -
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donald516 months ago
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...ans you have an exaple of this? No, just right wing lies asn exagerations! Sadam had WMD and links to Al Qaeda too! We were greeted as liberators and the Iraqi oil did pay for the war..... and Joe Wilson was wrong and his wife didn't work for the CIA..... and Dumya said we were never in a recession....
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Bopi3656 months ago
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Since the advent of globalization, America's share of the pie was bound to decline. This due to increased competition. Prior to that' we had the world market to ourselves.
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The choices then, were to innovate or outsource. American business leaders chose outsourcing.
There's an old saying in manufacturing which is...
You can increase profits by increasing production or lowering overhead.
Lowering overhead includes lowering wages ergo repubnics choose to stifle minimum wages , block any sort of regulation , and certainly fight against universal healthcare. These make doing business more expensive. Our automakers have been given far to many chances to come up with a marketable product and yet they predictably continue building oversized vehicles to a public in denial over the fact that we may have limited resources to share with a further industrialized world.
In the mean time the wealthy play roulette with whatever investments the working class manage to sock away , all the while telling us that you control your own destiny.
So what is really the difference if you have 10 mil or only 5 mil.
Tax excessive wages and the wealthy will only be more determined to steal/work? for more...sounds like a plan
As if the previous plan of tax cuts for the wealthy actually accomplished anything.
Remember repubnics, greed is good. Ronnie told you so....-
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CHAM6 months ago
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Bopi365. I agree with you, and I have posted on here several times of a Company I once worked for who would go to Asian Countries, find the Male Head of Household, furnish Materials and equipment to manufacture product.
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The Family in the Asian Country would then put his family to work including all his children and all they had to do was furnish the labor. The children were paid table wages ( they got to eat at the table ) something no worker in America could match and live.
And all the time on here you can hear the Right braying about "It's the Unions", utter BS. Has nothing to do with anything. -
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cyfie6 months ago
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I just love the way debate has become so enlightened in America. Everyone is convinced that what their mom and dad told them was true, and the channel i watch because it agrees with what i think proves every day that "we" are right and "they" are evil, so they must be wrong.
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America got to be great by having a thing called "statesmen" like behavior, where leaders thought about what was best for the country and comprimised when necessary for the good of the people. Now we live in a country of whiny, selfish, self centered people, all of whom are "Patriots". They love the "Country" singers who wrap themselves in the flag and say we need to kick every other countries ass. Of course, the real ass kicking is done by the 1/2 % of the population who step up and actual serve in the armed forces. We need to do this because the other countries won't live the way we want them to, which is to work for slave wages, let us use up all their natural resources, and then ship our trash and pollution to them. Let us also worship the most stupid men, and now women, who run for office because we can't identify with someone who is smart or actually thinks of both sides of an issue. America is great, it's just her people who need the kick in the ass. -
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Bopi3656 months ago
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For Lancaster..
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The Repubnic myth that corporate America is over taxed thus forcing them to outsource off-shore is just that ...a myth. Though that is likely where their bank accounts are.
Corporate America has found numerous ways to evade paying their share and in fact pay the least of any sector in the country. They really don't need any more help from you.
http://bwnt.businessweek.com/interactive_reports/c... -
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