ForumsWEPRThe Fiscal Cliff

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Mickeyryn
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Mickeyryn
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What do you guys think about the fiscal cliff?

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

toemas
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toemas
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agreed.

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

'nuff said

partydevil
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partydevil
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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
nichodemus
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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.
goumas13
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goumas13
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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.

Mickeyryn
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Mickeyryn
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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!

nichodemus
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nichodemus
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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.

Masterforger
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Masterforger
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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.
nichodemus
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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?
Masterforger
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Masterforger
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Why would any nation want to cut off their lifeblood?

Strange thing to say after just mentioning America selling out to China...
And you never know. Those workers can only be expected to stay "content" in poor conditions for so long.
nichodemus
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nichodemus
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Strange thing to say after just mentioning America selling out to China...


American companies had no choice but to move on to China to cope with the cheaper COPs; they still send remittance back. America is still backed by substantial FDI overseas and its own strong domestic manufactoring/industries. On the other hand, China's main driving economical force is such cheap manufacturing. Take it away, and the house of cards wobbles.

And you never know. Those workers can only be expected to stay "content" in poor conditions for so long.


China has moved production inland, where it's cheaper. Also, it's moving up the technological chain at a frightening pace.

I wish America could rely on themselves a little more. Just a tad, please?


If consumers gave up the dirt cheap prices, it would. Would you though?
Mickeyryn
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Mickeyryn
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If consumers gave up the dirt cheap prices, it would. Would you though?


Yes, as a matter of fact, yes, I would. Are you asking: Would most Americans?
nichodemus
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Yes, as a matter of fact, yes, I would. Are you asking: Would most Americans?


That's what's going to make it all a pipe dream.
nichodemus
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Would be an astute time to point out though, that the fiscal cliff, which concerns itself with the budget deficit, isn't the same economic beast as the trade deficit the US has with China. We shouldn't conflate the two issues into one big mess.

Mickeyryn
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Mickeyryn
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Yep, your right. What do you think we should do?

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