No US election chatter on here.

[Midnight Blue]

1argoholic, I like you, but please don't cast all of us Conservatives as racists and homophobes.


The US deficit was at around 7 trillion and in 8 years Bush added 4 trillion.

Then, in 4 years, Obama added 5 trillion.

At 16 trillion now, and projected to hit 20 trillion soon, the US is on the verge of fiscal disaster.

That's what is so scary about the Obama win.

If the US economy goes down the drain, Canada will be severely affected, to say the least.

Let's hope the President, the Democrat Senate, and the Republican House can get this under control,

before it is too late.

I just wanted to edit my post, by saying that the above numbers represent the US debt, not the deficit.

The debt, is the total that a country owes. The deficit, in my understanding, is what is supposed to be paid in a year, but cannot be paid for that year. Any sex-craved economists out there, who have more of an understanding of the above two terms, are requested to elaborate. Or perhaps I nailed it. In any case, the numbers are roughly correct. Not the stuff dreams are made of.

Anyway, been very busy lately; might have more to say in the future.


Cheers !

[argolio]

The debt, is the total that a country owes. The deficit, in my understanding, is what is supposed to be paid in a year, but cannot be paid for that year. Any sex-craved economists out there, who have more of an understanding of the above two terms, are requested to elaborate. Or perhaps I nailed it. In any case, the numbers are roughly correct. Not the stuff dreams are made of.

You sort of have it right. A deficit (or a surplus) is annual, and debt is ongoing -- the result of continuous deficits.

Debating someone smarter than I am isn't ideal, but I'll give it a go. When they flushed Lehman Brothers, there was no going back. The Banksters have to get paid back on their OTC derivative winnings, therefore that's why Quantitative Easing will continue unabated, here and in Europe, it's the only tool left. Bernanke should have stepped up and saved LB and any other institute at the time that needed it. It's not so funny how close we were in the fall of '08 to some major, major sh** hitting the fan.

I'm as smart as Fredo was!

If I recall, Lehman was heavily connected in the money market with Greece and other European countries, so one has to wonder how things might be different in Europe today if Lehman was saved.

[KCargosfan]

I'm as smart as Fredo was!

If I recall, Lehman was heavily connected in the money market with Greece and other European countries, so one has to wonder how things might be different in Europe today if Lehman was saved.

Agreed, good point.