U.S.: In state of denial over taxes?

[cottonpicken]

Its not end of the world type stuff,its peoples
savings and entitlements being wiped out in the
blink of an eye which has happened many times in
the past few thousands years.

At this hour it looks like they agreed on 3 trillion
dollar ceiling raise.Surprise surprise,they have only
done this eighty or ninety sometimes before.At
least the show they put on for us was good.

Tonights market open should be interesting.

[Fransisco]

[cottonpicken]

http://sanders.senate.gov/imo/media/doc/GAO%20Fed%20Investigation.pdf

[Wheatking]

Are you for real Tom. Although I agree with you
about getting rid of the board, you really come
off as a nut job with all this prophesying. This
isn't the end of days. Life will go on, even for
those who don't believe. It's hard to take you
seriously on any argument when you quote
scripture for everything.

[begood]

Ive noticed that too.

[TOM4CWB]

Wheatking,

"Are you for real Tom."

All right... what is so bad about being positive... and looking at issues from a historic and cultural perspective?

Could it be that history does repeat itself... and that billions of folks through history who looked at our humanity and future in a different context than you have... are not wrong?

If we are wrong... what have we lost other than 'Loving our neighbour as ourselves' and 'Turning the other cheek' as our truthful intentions, instead of responding the alternative actions; Wheatking?

Am I perfect? Far from it.

But I can not see the harm in a little heaven on earth each day!

Hope you have great crops and a good harvest!

[sumdumguy]

Life will go on. I think the US will wake up one
day and say ,"lets pump our own oil, no more
importing" and lets scale back these wars. Lets
put America to work by wage roll- backs, no
more medicare., There will be some bitter pills to
swallow, egos will be deflated but taxing the rich
is not the answer, asking those guys to figure out
a reverse course is.

[TOM4CWB]

sumdumbguy,

What I have never been able to figure out... is that all the conventional economists tell us we must have at least 3 percent growth in our national economies each year. India and China are 'powerhouse' economies... because they have 8-10 percent growth?

Can the present global economic system have integrety and keep growing for ever?

'Inflation is evil' we are told... yet isn't India and China growing because of inflation in reality?

But its OK because they are saving the world from otherwise certain economic collapse?

What is the true end game here???

What have I missed?

[sumdumguy]

The inflation rate is much higher than the
statistics indicate. I believe that the government
is deliberately pumping out low inflationary
numbers in order to keep interest rates low.
Eventually the capital will move to the countries
with better rates. I'm a bit suspicious that the low
rates are partially propping up the US and at the
same time propping up the banks.

The banks are getting free money, yet the bank
profits aren't indicative of the advantage. Rather
unsettling.

[TOM4CWB]

sumdumbguy,

'The banks are getting free money, yet the bank
profits aren't indicative of the advantage.'

The banks are being 'recapitalised' by the this low cost of money. In real terms they have recaptured many billions... to pay for the losses in the collapse and replace equity lost in 2007/8.