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Thread: Is this the beginning of the end of America?

  1. #1
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    Default Is this the beginning of the end of America?

    This article may seem benign but it is critically important to the US Economy. It is the first real evidence Obama will nationalize or take over one of the world biggest banks in CitiBank/CitiGroup. The article is here at Asia Rallies, Dollar Slips on Relief Over Citigroup - Market Overview * Asia * News * Story - CNBC.com and if you read it carefully it portends a frightening event that will cause a cataclysmic chain of events worldwide that will send the dollar into a death spiral - and all of this bad news lies at the feet of Obama for his naivete, inexperience with economics, and poor judgment letting the Democrats craft an $800 Billion Bill that does nothing but indulge Democrats lust for spending when our wallets are already empty and our debtors grow more fearful of our deficit every day. This is a day to weep for America. By the end of todays trading day the dollar will dive and trillions of dollars of wealth will simply cease to exist. We'll face debt and interest on that debt that can never be repaid - at some point soon the rest of the world will cut it's losses in America. call in it's debt, and we will default, causing our Treasury Bills to fall from AAA to something lower and with that lost rating we'll lose our ability to borrow to finance our debt - and that will be the end of prosperity in America. Obama is 100% to blame. He could have avoided this but he doesn't get it - Capitalism is not a social program. It's a free market that depends on Self Determination and Natural Selection to let the market itself punish the offenders, purge it of it's bad actors and assets, pick over the bones of the carcasses,and resurrect itself with innovation and smart tough men who make decisions based on reality not politics. We're all in BIG TROUBLE. Speak out and at least make them think about this lunacy before they destroy any chance we have of recovery.

    Asia Rallies, Dollar Slips on Relief Over Citigroup
    Topics:South Korea | Australia | Stock Market | Singapore | Hang Seng | Nikkei | Shanghai Stock Exchange



    By: CNBC.com | 22 Feb 2009 | 07:18 PM ET
    Text Size

    Asian markets were mostly higher while the greenback tumbled Monday on media reports the U.S. government could end up with as much as 40 percent stake in Citigroup. This sparked some relief among investors who cut their safety trades.
    U.S. equity futures rose 1 percent after media reports the U.S. government may acquire up to 40 percent of Citigroup's common stock [C 1.95 -0.56 (-22.31%) ] . Citi's stock price plunged around 44 percent last week.
    The three havens that investors mainly bought last week on uncertainty about the fate of U.S. banks -- U.S. Treasuries, gold and the dollar -- dropped, as dealers sold first and worried later about the implications of such a big public stake in a major international bank.


    The U.S. dollar fell [EUR-TN 1.2926 0.0102 (+0.8%) ] across the board on the growing fears over potential bank nationalizations. Crude oil prices [US@CL.1 40.6 0.57 (+1.42%) ] climbed above $40 a barrel.
    Last edited by Fauvee; February 23rd, 2009 at 03:34 AM.

  2. #2
    Elite Member azoria's Avatar
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    I think it's a little early to be sounding the death knell for America?

    And even if one were to blow the whistle quietly, Obama did not create this mess, it has been in the making for 25 or 30 years. Disaster that takes 25 years to create cannot fixed in a month.

    Moreover, I'm not one who sees nationalization as necessarily evil. Nationalization can be a good thing, depending on what it is and how it is managed.

    So take your flushing-America-down-the-toilet conspiracy theory to some more right wing, gun toting, survivalist recess where these crackpot ideas will be better received.

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    Elite Member Grimmlok's Avatar
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    oh CNBC shut the fuck up. Those retards have been screaming about "socialism" and whatnot, all the while the people CNBC has been trumpeting as the 'solution' to the problem (investment bankers and such) are the ones standing in line for a fucking corporate welfare handout!
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    and all of this bad news lies at the feet of Obama for his naivete, inexperience with economics, and poor judgment letting the Democrats craft an $800 Billion Bill that does nothing but indulge Democrats lust for spending when our wallets are already empty and our debtors grow more fearful of our deficit every day.
    It is hard to take a post seriously when it is so full of hyperbole. Obama has been president for 1 month. The idea that "all of this bad news" lies at his feet is just retarded. You can say whatever you like about Democrats [sic] lust for spending, but GWB assume office with a surplus and turned it into the largest deficit ever.

    It's not the end of capitalism. We are having to correct years of deregulation and greed. We're not a socialist nation--it's not in our philosophical makeup as Americans--and it would take a lot more than one person to make it happen. (By the way, socialism is a system of government, not some kind of evil conspiracy trying to take over the world. There are well-run and happy nations that exemplify varying degrees of socialism.)

    Please take your hysteria elsewhere or check it at the door so we can have an intelligent conversation.

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    Elite Member Grimmlok's Avatar
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    i would say the US is socialist, look how much wealth redistribution is going to corporations
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    Hit By Ban Bus! AliceInWonderland's Avatar
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    I don't think its the beginning of any end. for now.

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    Elite Member kingcap72's Avatar
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    and all of this bad news lies at the feet of Obama for his naivete, inexperience with economics, and poor judgment letting the Democrats craft an $800 Billion Bill that does nothing but indulge Democrats lust for spending when our wallets are already empty and our debtors grow more fearful of our deficit every day.
    This part told me everything I needed to know about the writer's cries of 'it's the end of America.'

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    Elite Member cynic's Avatar
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    ...I think he is right about the U.S. dollar getting ready to take a dive though.....and the gold markets seems to be saying the same thing....there is so much blame to go around, I don't think anyone is faultless in this clusterfuck of the world economy......

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    Hit By Ban Bus! AliceInWonderland's Avatar
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    well yeah, it is very likely to take a dive, however, stranger things have happened.

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    Elite Member kingcap72's Avatar
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    ^^Agreed. Dems and Republicans have their share of the blame in the economic mess. But I think one of the reasons why we're seeing all of this upheaval in the financial markets is because they were markets designed for the 20th century, but not for the 21st century. And when it's all done the current market framework will be gone and replaced by a new one.

    The Reagan-Era economics of the 'trickle down' theory are outdated. The rich don't get richer and let it trickle down to the masses in the forms of jobs. The rich get richer and the poor get poorer, and that great divide is creating a huge imbalance across the board.

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    Hit By Ban Bus! AliceInWonderland's Avatar
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    "trickle-down" was a bunch of bullshit anyways!

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    Elite Member cynic's Avatar
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    ^^yeah, but a lot of the current manufacturing problem is not only that greedy companies went overseas for cheap labor, but the first ones were rewarded so richly for doing so by the consumers who bought cheap products made overseas which then forced the competition to do the same....same as the real estate problem was not only caused by greedy investment bankers and greedy homebuilders, but also by greedy home buyers who took mortgages that they couldn't afford and weren't smart enough to understand...

    ...it wasn't the rich by themselves, it was all of us.....

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    Elite Member kingcap72's Avatar
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    ^^Yeah, everyone is to blame. Too many people want to live beyond their means and put everything on credit. The whole 'I'll get it today and pay for it tomorrow' way of thinking is what got us into this mess, and the only way America will survive economically is for everyone to stop trying to keep up with the Joneses.

  14. #14
    Elite Member cynic's Avatar
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    ^^now that I can agree with....and it is going to be hard when at least two American generations learned to live well beyond their means.....I thought the world had gone mad when I was hearing that my nieces and nephews in college were getting credit cards...they didn't have jobs, but they got credit cards?....when they got into trouble with them, they whined that it was the credit card companies fault for pursuing them....I asked if they signed the cards and used them?.....well....yes was the answer....ah, well, then....pay up, shut up and tear them up was my advice.....

  15. #15
    Elite Member kingcap72's Avatar
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    ^^The evil of credit cards. I know it well. I've just about paid down my credit card debt, and once it's done I never want to see another credit card. But I still get credit card companies trying to sign me up for new ones. I just throw them in the trash.

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