Guest jomtien Posted October 8, 2010 Posted October 8, 2010 Please refrain from personal attacks and remarks. This thread is getting out of control and I suggest a deep breath. Quote
KhorTose Posted October 8, 2010 Posted October 8, 2010 Please refrain from personal attacks and remarks. This thread is getting out of control and I suggest a deep breath. I agree, and voldemar, I have read the thread and the citations you mention and I find myself agreeing that Bob is on the right track with his message. I feel I am listening to Fox news. If you like that kind of economics that Bush so touted then vote republican, but there is no excuse to imply someone who disagrees with you is talking jibberish. The right choice for me is the Democratic ticket. Now are you going to suggest I am an idiot? Quote
Guest voldemar Posted October 9, 2010 Posted October 9, 2010 I wasn't thinking just about the US demise. I view the UK as being in a similar position in certain respects -certainly with regard to government deficits, consumer deficits and printing the currency like it's toilet paper. I am obviously not an expert on UK but here is my 2 cents. Indeed, economically situation in UK not dissimilar to US but politically things are much better. Of course, I would prefer conservative government to coalition but in any case, it is better than Labour government. The big question is whether liberals will have the guts to stick to austerity measures. It surely immensely difficult politically and historically coalitions like that are not very stable. Another thing is that QE in UK is even more dire than in US (after all US dollar is still a reserve currency). I lost trust to UK pound and that is the reason I do not trade on London Stock exchange anymore. (Mining stocks can be traded in Canada and Australia also). Nevertheless, austerity measures in UK at least declared whereas in US Obama spends as if there is no tomorrow. Quote
Guest voldemar Posted October 9, 2010 Posted October 9, 2010 The right choice for me is the Democratic ticket. Now are you going to suggest I am an idiot? No. But it gives me the chance to raise one important issue. Many of us are moving to the category of retirees and many are already there. Obviously, our economic interests are changing. Do not you think that for those of us who live on fixed income paid in US dollars the value of dollar is not irrelevant? On the other hand, how many of us are planning to serve in the military? I mean should I really care whether Do not ask do not tell will be abolished ? That may be a very cynical viewpoint but I am trying to think in realistic terms. I, by the way, always voted for Democratic ticket till last elections. And if a Democrat like Evan Bayh would ever run for Presidency, I would gladly vote again. But I am not prepared to vote for Marxists that is for sure. Quote
Bob Posted October 9, 2010 Posted October 9, 2010 But I am not prepared to vote for Marxists that is for sure. I'm just wondering if I'm reading part of your last set of comments correctly. You're suggesting that the Obama administration is Marxist? Quote
Moses Posted October 9, 2010 Posted October 9, 2010 I'm wonder about debates... "democrats", "republicans"... Gents, USA-economic is deep in asshole. Anyone who will resolve this problem will become unpopular very soon: coz he will must cut, cut and cut everything: government's expenses to social programs, to salary for clerks, to military... to every thing... or "kill" dollar and establish something like "amero"... Look at USA-debts... No ways to be popular and at the same improve situation with jobless, and economic on knees... Quote
Guest Posted October 10, 2010 Posted October 10, 2010 Gents, USA-economic is deep in asshole. The USA economy is in deep shit. I hope it comes out of it but it is looking like that is not going to happen soon. With the new elections, I do think the Republican's will gain a majority in at least one house and then it will be impossible to get anything accomplished. I think we are in for a much harder 2 years. Quote
Guest voldemar Posted October 12, 2010 Posted October 12, 2010 The USA economy is in deep shit. I hope it comes out of it but it is looking like that is not going to happen soon. With the new elections, I do think the Republican's will gain a majority in at least one house and then it will be impossible to get anything accomplished. I think we are in for a much harder 2 years. I do agree with the last two posts and I hope GayThailand is right about the results of the coming elections. But there is also a political problem. American politics becomes extreme and moderate and fiscally responsible politicians are pushed out of political scene. I hate the idea to have a choice between Obama and Palin during next presidential elections. I will give you another example where politics of current administration is destructive for US economy. There is a so-called energy bill which contains a lot of BS (like carbon credits trading) but also a number of very constructive proposals. Among them to establish government incentives for creation the infra structure for using liquid natural gas as a fuel. This idea is due to Boon Pickens but found support of moderate democrats. There was a recent technological breakthrough due to several US companies which allows commercial extraction of so-called shale gas. This breakthrough almost instantaneously rose reserves of natural gas in US multiple times. It is now believed that US has enough natural gas for the next 150 years. Several moderate Democrats floated the idea to pass smaller version of Energy bill by removing ideological proposals which make no sense under present circumstances. The idea was rejected by Administration. On the other hand, as a part of stimulus package, two lithium battery plants were created in Michigan. As a result of 2 billion grant from the government, 10000 thousand jobs were created. You can easily count that the cost of every new job was 200000 thousand dollars. The production creates a lot of pollution and batteries are supposed to be exported to China. Senator Levine (D, Michigan)called it modern globalization but in reality it is a total waste of money. The decision is purely ideological (help unionized workers and create batteries for electric cars). The true solution of US problems is , however, possible only through technological innovation and efforts of private companies (as in described case of shale gas) not through the government imposition of politically correct projects which makes no economic sense. Quote
Guest voldemar Posted October 13, 2010 Posted October 13, 2010 I discussed provisions of Hire act with several US attorneys who are specialized on Assets protection and two international bankers and they think it will be very difficult for Americans to have offshore accounts after 2012. Sorry, I am responding to myself. I try to get assurances from foreign banks where I have accounts that they will not be closed as a result of Hire act and I am getting none. Today though I received a letter from tax Counsel of CITIBANK. In this letter he explains that foreign branches of US banks (including of CITIBANK) are not considered foreign financial institutions by Hire act and hence do not need to enter new agreement with Department of Treasure (and therefore have no plans to close banking accounts of US customers). While CITIBANK is far from being ideal place for keeping offshore funds, it is still better than nothing. Quote
