China's President says Dollar as global reserve currency is a thing of the past

[The Good Reverend Roger]

100% debt isn't as crippling as you'd think, it was higher after WWII.

Yeah, but we had a pile of receivables due from lend/lease to offset the debt.

Good point.  I still think the real problem though is that we're still piling debt on rather than paying it off though, rather than worrying about actual numbers.  Eventually the people lending us money are going to clue into the fact that the US budget has become the biggest Ponzi scheme in history and we'll be forced to balance the budget the hard way, or else just print money like there's no tomorrow, either way the show will be over.

Don't worry, the teabaggers are going to cut the deficit by $100 Billion...er, $50 Billion...um, $25 Billion AND COUNTING!

Eric Cantor will eventually stop downgrading the cuts, I gather, probably when the "cuts" will be -50% or so.  Meanwhile, Peter King (R-NY) has been running to every corporation that has ever donated to the right, asking what regulations they'd like to see removed, and how many dollars they'd like to not pay in taxes.

[Requia ☣]

On second thought, we may not make it another ten years before the creditors clue in. 

[Disco Pickle]

Commentary: Maya MacGuineas is the director of the fiscal policy program at the New America Foundation.

The facts are ugly. The federal debt, which has averaged less than 40% of the total economy, now represents more than 60%. It's likely to hit 100% in a little over a decade.
http://money.cnn.com/2011/01/17/news/economy/maya_macguineas_national_debt/index.htm?source=cnn_bin&hpt=Sbin

Took a while to find it again.

The Movie I.O.USA talked about this.  An important movie almost no one saw.

I just followed the trail of the people that financed and distributed that, looking for the Alex Jones or Teabagger types I was expecting to see.

I didn't find them.  I found people talking actual sense.  I'll give the movie a shot.

I wouldn't have mentioned it here had that been the case.  I know how you guys vet your info.  The movie actually had some theater time a few years ago in certain cities.  Shame more people didn't go see it.  

[The Good Reverend Roger]

Commentary: Maya MacGuineas is the director of the fiscal policy program at the New America Foundation.

The facts are ugly. The federal debt, which has averaged less than 40% of the total economy, now represents more than 60%. It's likely to hit 100% in a little over a decade.
http://money.cnn.com/2011/01/17/news/economy/maya_macguineas_national_debt/index.htm?source=cnn_bin&hpt=Sbin

Took a while to find it again.

The Movie I.O.USA talked about this.  An important movie almost no one saw.

I just followed the trail of the people that financed and distributed that, looking for the Alex Jones or Teabagger types I was expecting to see.

I didn't find them.  I found people talking actual sense.  I'll give the movie a shot.

I wouldn't have mentioned it here had that been the case.  I know how you guys vet your info.  The movie actually had some theater time a few years ago in certain cities.  Shame more people didn't go see it.  

Sorry, it was more important that the American people go see Matrix VIII.

[Adios]

And Americas number 1 export now is war. Not a lot of profit in that.

There's LOADS of profit in that.  For some.

And since capital gains taxes are almost non-existent, and corporate taxes are easy to dodge, all that money stays with those people, instead of being taxed to help the country do it's thing.

Short & skinny:

1.  The weapons geeks make a shitpile of cash.
2.  We pay the overhead.
3.  A bunch of our military dies.

Defense contractors can not be expected to pay taxes. They are spending so much as it is buying politicians.

[Adios]

Commentary: Maya MacGuineas is the director of the fiscal policy program at the New America Foundation.

The facts are ugly. The federal debt, which has averaged less than 40% of the total economy, now represents more than 60%. It's likely to hit 100% in a little over a decade.
http://money.cnn.com/2011/01/17/news/economy/maya_macguineas_national_debt/index.htm?source=cnn_bin&hpt=Sbin

Took a while to find it again.

The Movie I.O.USA talked about this.  An important movie almost no one saw.

I just followed the trail of the people that financed and distributed that, looking for the Alex Jones or Teabagger types I was expecting to see.

I didn't find them.  I found people talking actual sense.  I'll give the movie a shot.

I wouldn't have mentioned it here had that been the case.  I know how you guys vet your info.  The movie actually had some theater time a few years ago in certain cities.  Shame more people didn't go see it.  

ITT first I ever heard of it.

[The Good Reverend Roger]

And Americas number 1 export now is war. Not a lot of profit in that.

There's LOADS of profit in that.  For some.

And since capital gains taxes are almost non-existent, and corporate taxes are easy to dodge, all that money stays with those people, instead of being taxed to help the country do it's thing.

Short & skinny:

1.  The weapons geeks make a shitpile of cash.
2.  We pay the overhead.
3.  A bunch of our military dies.

Defense contractors can not be expected to pay taxes. They are spending so much as it is buying politicians.

"Defense" contractors.  

Ipso facto Orwellian terms, ITT.

[Adios]

And Americas number 1 export now is war. Not a lot of profit in that.

There's LOADS of profit in that.  For some.

And since capital gains taxes are almost non-existent, and corporate taxes are easy to dodge, all that money stays with those people, instead of being taxed to help the country do it's thing.

Short & skinny:

1.  The weapons geeks make a shitpile of cash.
2.  We pay the overhead.
3.  A bunch of our military dies.

Defense contractors can not be expected to pay taxes. They are spending so much as it is buying politicians.

"Defense" contractors.  

Ipso facto Orwellian terms, ITT.

Best defense is a good offense?

[Disco Pickle]

Commentary: Maya MacGuineas is the director of the fiscal policy program at the New America Foundation.

The facts are ugly. The federal debt, which has averaged less than 40% of the total economy, now represents more than 60%. It's likely to hit 100% in a little over a decade.
http://money.cnn.com/2011/01/17/news/economy/maya_macguineas_national_debt/index.htm?source=cnn_bin&hpt=Sbin

Took a while to find it again.

The Movie I.O.USA talked about this.  An important movie almost no one saw.

I just followed the trail of the people that financed and distributed that, looking for the Alex Jones or Teabagger types I was expecting to see.

I didn't find them.  I found people talking actual sense.  I'll give the movie a shot.

I wouldn't have mentioned it here had that been the case.  I know how you guys vet your info.  The movie actually had some theater time a few years ago in certain cities.  Shame more people didn't go see it.  

ITT first I ever heard of it.

there was a pretty low signal to noise ratio in 2008 so It likely got missed even by people who might otherwise find it through normal information channels.

Definitely worth checking out.

[The Good Reverend Roger]

And Americas number 1 export now is war. Not a lot of profit in that.

There's LOADS of profit in that.  For some.

And since capital gains taxes are almost non-existent, and corporate taxes are easy to dodge, all that money stays with those people, instead of being taxed to help the country do it's thing.

Short & skinny:

1.  The weapons geeks make a shitpile of cash.
2.  We pay the overhead.
3.  A bunch of our military dies.

Defense contractors can not be expected to pay taxes. They are spending so much as it is buying politicians.

"Defense" contractors.  

Ipso facto Orwellian terms, ITT.

Best defense is a good offense?

International relations as described by Mel from Alice.

[Cain]

100% debt isn't as crippling as you'd think, it was higher after WWII.

Yeah, but we had a pile of receivables due from lend/lease to offset the debt.

And, also, to be fair, there had been a four year high-intensity war fought on two fronts (plus bankrolling a third), which makes it a little more understandable. 

I mean, Christ, Bin Laden doesn't even have as many partisan fighters as Tito.

[Adios]

I don't think it's been about Bin Laden for quite some time now.

[Precious Moments Zalgo]

Bin Who?