Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Liberalism: Do You Agree We've Had Enough of It? -- Ignore unavailable to you. Want to Upgrade?

To: puborectalis who wrote (38780)	8/10/2008 10:15:02 PM
From: Ann Corrigan	Read Replies (1) \| Respond to of 224756

The American employers will fire all their Chinese workers if China demands payment. Then the Chinese economy will collapse due to high unemployment.

To: puborectalis who wrote (38780)	8/11/2008 7:43:36 AM
From: Geoff Altman	Respond to of 224756

Yeah? Hate to tell you but there's always a country that's willing to invest in Americas' debt. We had the same thing back in the 70s and 80s with Japan along with it buying up American companies and property..... With the same amount of fear mongering.....

To: puborectalis who wrote (38780)	8/11/2008 9:41:15 AM
From: lorne	Respond to of 224756

sulcus..."how about the Chinese commies who own a vast amount of our debt?".... Federal Government Debt Report - summary page - (updated Feb. 2008) by Michael Hodges (email) - a chapter of the Grandfather Economic Reports - home.att.net clinton dem years. In the 1990s $2.8 trillion of new debt was created; more than created in the nation's entire history prior to 1990 In the 4 years 1997-2001 total federal debt increased $438 billion, a period when politicians bragged about a $557 billion surplus. That's a $1 Trillion creditability gap. An additional $2.8 trillion of debt was added in 2002-2007 During the period since the Sept. 11, 2001 terrorist attack, federal government debt increased $2.8 trillion.Some might say, "But isn't more debt OK to fight the 'war on terror'?" My response: did they reduce non-defense spending to fund our protection, since the major reason our founders formed a federal government was for national security? Answer: Nope!! They increased non-defense spending, too. How many senators and congressmen can you name who proposed serious legislation to significantly reduce non-defense spending in that period?....McCain maybe? Question: How could officials claim budget surpluses in the late 1990s, and that they paid down debt, when total debt increased to a new record high each and every year? Answer: the general federal government did not have a surplus in any year in the past 20.For example > During the 4-year period FY 1998-2001 politicians claimed a $557 billion surplus, yet total debt increased $438 billion in that period - - meaning the actual situation was nearly $1 trillion over-stated, which makes such 'hide-the-debt' scandals like Enron look like child's play. The Deficit-Trust Report shows the general government spent more than its general revenues every year, and covered up over-spending deficit by siphoning-off all $ 3.3 trillion cash surpluses incoming to trust funds, including spending every penny remaining in the social security trust fund on non-pension items - - creating even more non-marketable debt IOUs to 'paper-over' their actions - - while claiming they want to 'save social security'. (If a private firm did that to its employee pension fund its officers would go to jail - a law in every state).