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The Fiscal Cliff

Posted Dec 18, '12 at 12:17pm

Mickeyryn

Mickeyryn

244 posts

What do you guys think about the fiscal cliff?

 

Posted Dec 18, '12 at 12:22pm

nichodemus

nichodemus

12,018 posts

Knight

Avoid it. Duh. But I fear it's not going to be possible.

 

Posted Dec 18, '12 at 1:40pm

toemas

toemas

315 posts

agreed.

the u.s. wont drill for there own oil, we keep borrowing money from china, then printing money we dont have.

'nuff said

 

Posted Dec 18, '12 at 1:41pm

partydevil

partydevil

5,097 posts

Avoid it. Duh. But I fear it's not going to be possible.

the republicans are not going to work together. so they can use it in the next election ;)

 

Posted Dec 18, '12 at 1:43pm

nichodemus

nichodemus

12,018 posts

Knight

the u.s. wont drill for there own oil, we keep borrowing money from china, then printing money we dont have.

These are two different issues. And the US is already increasing oil production; set to surpass SA in 2020.Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons is on track to rise 7% this year to an average of 10.9 million barrels per day. This will be the fourth straight year of crude increases and the biggest single-year gain since 1951.

That doesn't mean America doesn't need to import oil, it consumes far more than it produces.

 

Posted Dec 19, '12 at 6:21pm

goumas13

goumas13

4,487 posts

Looks like the talks to avoid the fiscal cliff have stalled again, but I'm still quite positive that they will reach a reasonable compromise before the end of the year. The legendary and elusive Simpson-Bowles plan has re-emerged, hence there's a good chance something like the Simpson-Bowles "framework" will ultimately be passed by Congress.

 

Posted Dec 19, '12 at 7:38pm

Mickeyryn

Mickeyryn

244 posts

i dont like the repubs or the democrats. I am an independent i think they both need to work together and i think our country is screwed right now we borrow money from bankers: 48 cents per dollar we owe. we dont even have are own money and the kids will have to pay all the debt of the country. stop borrowing from stupid ****ing other countries and we should charge importers so that food from china and mexico and items for china and mexico costs more so more people will buy american stuff and it will be cheaper and better made. support america!

 

Posted Dec 19, '12 at 9:40pm

nichodemus

nichodemus

12,018 posts

Knight

American goods are far too expensive to balance out with tariffs. If the US slaps tariffs on goods, the rest of the world will respond and history has taught us that trade wars never breed winners.

At any rate, the US is still at the mercy of the Chinese, the biggest buyer of US bonds.

 

Posted Dec 20, '12 at 1:19pm

Masterforger

Masterforger

1,633 posts

American goods are far too expensive to balance out with tariffs. If the US slaps tariffs on goods, the rest of the world will respond and history has taught us that trade wars never breed winners.

At any rate, the US is still at the mercy of the Chinese, the biggest buyer of US bonds.

The various East India companies did pretty well, the English one eventually won out and claimed a monopoly on trade in England. Those were the days.

What happens if China just refused to produce stuff? That would be interesting, to say the least.

 

Posted Dec 20, '12 at 1:21pm

nichodemus

nichodemus

12,018 posts

Knight

The various East India companies did pretty well, the English one eventually won out and claimed a monopoly on trade in England. Those were the days.

We have close to two hundred nations now, with a globalized chain of trade. We are far far different.

What happens if China just refused to produce stuff? That would be interesting, to say the least.

Why would any nation want to cut off their lifeblood?

 
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