An awful result for any Yanks with a job, money or a work ethic.
We are headed for exactly the same scenario in this country. The vote divided largely down racial lines, Allowing benefit claimants and blacks the vote will obviously, sooner or later, lead to the black who promises the most free stuff to blacks and benefit claimants getting elected.
It won't be too long until we have serious problems with ethnics getting to high levels of power here, simply because of the fix that is the boundary commission, and because it is 'legal' there will be nothing anybody decent can do about it.
"We are headed for exactly the same scenario in this country..."
In this country? Hell, in Europe! You only have to look at Greece.
Bad times ahead. We've bred a generation of adult children, reinforced that with an influx of foreigners who've been encouraged to remain so even as they settle here, and we're now reaping that whirlwind.
"He who robs Peter to pay Paul can always count on the support of Paul" - Mark Twain 52% Pauls in America, but there's no more money to pay you, so you're fucked anyway.
OTOH, now he gets to look forward to the possibility of (hopefully) being impeached over having left that ambassador to die at Benghazi, and having attempted to blame the attack on that unrelated Youtube video.
"52% Pauls in America, but there's no more money to pay you, so you're fucked anyway."
It's interesting to speculate on just what happens when the money finally runs out. Perhaps shows like 'The Walking Dead' and 'Revolution' are to prepare the population?
"OTOH, now he gets to look forward to the possibility of (hopefully) being impeached over having left that ambassador to die at Benghazi..."
He'll dodge that one. Sad to say. No-one seems to care enough... :/
"...essentially, America just voted to substantially raise the credit limit on their grand children's cards."
I guess they figure no-one's big enough to come and repossess their house...
Unlike the EURO zone the US is a sovereign country with its own currency. So where Greece has no control of its currency (it cannot devalue without leaving the EURO) the US can. Which has benefits, such as the price of things imported rises, and exports are cheaper. Holidays abroad are more expensive for US citizens, but tourists into the US can buy for less (and a big mac is 99c in the US, but nearly 3 quid here). Gas at just over $4/us gallon.... Hey...the UK has almost as much debt as the US, if you take into account the trillions of pounds of worthless derivatives the banks have, but cannot get rid of (how's your mortgage ?. I ask because WHEN the banks finally go down your mortgage becomes their asset (read the fine print)) (not to forget the over 300 billion pounds of UK contribution to the EURO disaster that is arriving at a track near you soon as Credit Default Swaps (insurance)) So, while the UK gov is 900 billion in debt (but only 600 billion when you remove the bail-out money, which was used to buy back gov bonds (and was printed for that, so cost nothing)) the PRIVATE debt, including the family debt, works out at some 3 trillion... Now to the nitty gritty....the UK external debt to GDP ratio is a staggering 500% (compared to the US 100%).....we owe our debt to other countries who bought the IOUs'....the only country worse is Ireland, at 1275%. The public debt to GDP ratio is 93% for the UK, but 73% for the USA (which actually does have some manufacturing capability, apart from China) If you can print your own money things ain't too bad, and printing increases inflation which decreases debt !!
Not to mention sitting on a 50-year supply of cheap natural gas, and oil. So while the EU is not bothering, the US has gas available at a quarter the price we're paying NOW (and ours is rising all the time).
14 comments:
An awful result for any Yanks with a job, money or a work ethic.
We are headed for exactly the same scenario in this country. The vote divided largely down racial lines, Allowing benefit claimants and blacks the vote will obviously, sooner or later, lead to the black who promises the most free stuff to blacks and benefit claimants getting elected.
It won't be too long until we have serious problems with ethnics getting to high levels of power here, simply because of the fix that is the boundary commission, and because it is 'legal' there will be nothing anybody decent can do about it.
"We are headed for exactly the same scenario in this country..."
In this country? Hell, in Europe! You only have to look at Greece.
Bad times ahead. We've bred a generation of adult children, reinforced that with an influx of foreigners who've been encouraged to remain so even as they settle here, and we're now reaping that whirlwind.
Thought the quote was from PT Barnum?
"Is it 'cos I is nearly white?" Being neither one thing nor the other, simply couldn't fail.
My tip is to invest in firms offering permanent hair curling and skin bronzing.
Sorry Julia - bit early in the morn.
Should read: Could not agree more with the sentiments you express, Julia.
"He who robs Peter to pay Paul can always count on the support of Paul" - Mark Twain
52% Pauls in America, but there's no more money to pay you, so you're fucked anyway.
OTOH, now he gets to look forward to the possibility of (hopefully) being impeached over having left that ambassador to die at Benghazi, and having attempted to blame the attack on that unrelated Youtube video.
Oh dear, oh very dear.
I suppose this is the political equivalent of burying your head in the sand.
Yep, the issue there and here is that a big chunk of the public thinks that paying for stuff is not their problem.
Obama now freed from worries of securing a second term will be fun to watch...
Buy popcorn. Sell Dollars.
But yeah, essentially, America just voted to substantially raise the credit limit on their grand children's cards.
"Thought the quote was from PT Barnum?"
So did I, until I Googled it!
"52% Pauls in America, but there's no more money to pay you, so you're fucked anyway."
It's interesting to speculate on just what happens when the money finally runs out. Perhaps shows like 'The Walking Dead' and 'Revolution' are to prepare the population?
"OTOH, now he gets to look forward to the possibility of (hopefully) being impeached over having left that ambassador to die at Benghazi..."
He'll dodge that one. Sad to say. No-one seems to care enough... :/
"...essentially, America just voted to substantially raise the credit limit on their grand children's cards."
I guess they figure no-one's big enough to come and repossess their house...
Unlike the EURO zone the US is a sovereign country with its own currency.
So where Greece has no control of its currency (it cannot devalue without leaving the EURO) the US can. Which has benefits, such as the price of things imported rises, and exports are cheaper.
Holidays abroad are more expensive for US citizens, but tourists into the US can buy for less (and a big mac is 99c in the US, but nearly 3 quid here).
Gas at just over $4/us gallon....
Hey...the UK has almost as much debt as the US, if you take into account the trillions of pounds of worthless derivatives the banks have, but cannot get rid of (how's your mortgage ?. I ask because WHEN the banks finally go down your mortgage becomes their asset (read the fine print)) (not to forget the over 300 billion pounds of UK contribution to the EURO disaster that is arriving at a track near you soon as Credit Default Swaps (insurance))
So, while the UK gov is 900 billion in debt (but only 600 billion when you remove the bail-out money, which was used to buy back gov bonds (and was printed for that, so cost nothing)) the PRIVATE debt, including the family debt, works out at some 3 trillion...
Now to the nitty gritty....the UK external debt to GDP ratio is a staggering 500% (compared to the US 100%).....we owe our debt to other countries who bought the IOUs'....the only country worse is Ireland, at 1275%.
The public debt to GDP ratio is 93% for the UK, but 73% for the USA (which actually does have some manufacturing capability, apart from China)
If you can print your own money things ain't too bad, and printing increases inflation which decreases debt !!
Not to mention sitting on a 50-year supply of cheap natural gas, and oil.
So while the EU is not bothering, the US has gas available at a quarter the price we're paying NOW (and ours is rising all the time).
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