who bails out US taxpayers?
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today, a household of 3 have a bailout tax of US$117K .
with a near zero savings ratio and other liabilities such as social security, the entire country is bankrupt except for the top 10%.
the manufacturing middle class already wiped out.
wealth distribution of the country is such that top 10% owns 90% of the country's wealth.
taxes are payable by all. the general public is driven to a corner now, they hardly got money to pay! except their stock holdings. most of the pensioners have about 60% profit in their stock portfolios. they have to sell this to pay their taxes and debts. but they cannot as it is meant to be pension funds not trading funds.
who is going to bailout the rank and file American taxpayers?
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Print more US$ and give them "unemployment benefits" if they, the US tax payers lose their jobs.... so that they can buy stuff that the coolie economies produce.
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no worries
You might see TH and GIC literally pour even more money into US.
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You guys are pressing the panic button and causing alarm by looking only at the Credit and Debit of a Current Account.
Have you considered the Total Accounts of the USA - that covers the entire spectrum of the US Economy that include all the "Works-in-Progress" ?
Based on a conservative estimate, the US Economy is worth at least ten times the current debt on paper that is causing you to ring the shrill alarm bells.
However, if one is to look at it all - in the simplest level - as long as the US and the Global Economy keeps functioning, the continued roll-over or turnover of transactions will generate sufficient positive gains over time to cover the current debts.
The point is to keep the ball rolling.
The graphic presentation above is the nearest that I could find - and even though it is dated, it is enough to show the "wealth" that the USA can draw from to fund their way out of their present 'financial quaqmire' - which is not yet a 'financial black hole' if both of you can understand the difference being a "quagmire" and a "black hole"
If the USA should continue with the financial trend that George W Bush had created during his last ten years in office, one should certainly raise all the alarm bells at the continued inattention from the US Government to the growing risks of an obvious catastrophic financial melt down.
Fortunately, the present Obama's Government had the good counsel of public spirited and successful private entrepreneurs appointed as economic advisors to his Government.
The continued alarmist outcry and criticism of the USA without fully understanding the underlying strengths of the USA will only backfire on both of you.
Hold your breath for the next five years, and you may live through the stresses that you have caused for yourselves.
Are you familiar with the ‘Economy of the United States’. ?
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Just ranting about how unfair the current system is. They get to print money and pay their unemployed ""unemployment benefits""!!!!!????
...to buy goods Asia produces!!!???
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Let me put it in my own words, take for instance if a person is bankrupt now, doesnt mean he will be a bankrupt forever.
If he is able to pay back the dept he, he will be out of bankruptcy. US work the same, at present thier property market is over supply, so investment can be cannel to somewhere else.
They still can sell Airbus A380, they can also sell Microsoft product make in Silicon Valley. They can sell online compurter game like World of Warcraft. they can even sell hi tech weapon, health supplements and etc.
Eventually they will be able to repay back the dept and thier economic will recover once again.
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Originally posted by BotaHead:
Let me put it in my own words, take for instance if a person is bankrupt now, doesnt mean he will be a bankrupt forever.
If he is able to pay back the dept he, he will be out of bankruptcy. US work the same, at present thier property market is over supply, so investment can be cannel to somewhere else.
They still can sell Airbus A380, they can also sell Microsoft product make in Silicon Valley. They can sell online compurter game like World of Warcraft. they can even sell hi tech weapon, health supplements and etc.
Eventually they will be able to repay back the dept and thier economic will recover once again.
Right and they have been saying that for the past 20 years and the debt just gets bigger and bigger and they just print more and more.....
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quite true
given health supplements from China and from USA, which one would you prefer?
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Originally posted by BotaHead:
Let me put it in my own words, take for instance if a person is bankrupt now, doesnt mean he will be a bankrupt forever.
If he is able to pay back the dept he, he will be out of bankruptcy. US work the same, at present thier property market is over supply, so investment can be cannel to somewhere else.
They still can sell Airbus A380, they can also sell Microsoft product make in Silicon Valley. They can sell online compurter game like World of Warcraft. they can even sell hi tech weapon, health supplements and etc.
Eventually they will be able to repay back the dept and thier economic will recover once again.
You seemed to think Airbus, Microsoft, World of Warcraft are government assets. -
Originally posted by Stevenson101:
You seemed to think Airbus, Microsoft, World of Warcraft are government assets.
quite true, government can tax more from these big corporations if these big guns make tons of money, it kind of like government asset, and i believe the French govt also has a large share in Airbus. -
Originally posted by angel7030:
quite true, government can tax more from these big corporations if these big guns make tons of money, it kind of like government asset, and i believe the French govt also has a large share in Airbus.Logically, it would be the best choice yes.
But Capitalism and the Free Market in America is a religion, it is not viewed simply as the most effective way of doing things. I just doubt that the US government would even be able to do that in any effective measure.
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Originally posted by Stevenson101:
Logically, it would be the best choice yes.
But Capitalism and the Free Market in America is a religion, it is not viewed simply as the most effective way of doing things. I just doubt that the US government would even be able to do that in any effective measure.
US is one of the founder of capitalism, what you expect from them, they will uphold this system no matter what happens, their university such as Harvard, MIT etc etc are training peoples on how to make the best deal our of a free market, too bad their Wall street top peoples who are well business trained and certified to manipulate to their own gain and greed. They needs to do something to the education system. Mostly on the ethnical side.The USA is believe that by supporting these big corporations, jobs and chaos can be sustain, and in long run, things will get back to normal after they wipe out all the dirt and shit thru laws and orders.
Its take times, just be cool. Anyway, the money the govt use in bailing them out is the money the US govt had been taxing them and the public (workers) throughout many decades. It just a kind of pay back time for not checking the rear.
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US derivatives exposure at commercial banks is about 3 times the total net worth of the whole country. this means, the loss is at least 1.5 times the total net worth. this means, the tax payers are screwed to bail out the banks and suffer for the losses made by traders who got millions of bonuses. no wonder there is outrage.
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meet the wrath of tax payers.
The home of former Royal Bank of Scotland boss Fred Goodwin, under fire over his massive pension payout, was attacked overnight, police said on Wednesday.Skip related content
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Television pictures showed several windows of Goodwin's Edinburgh villa were smashed along with those of a Mercedes car parked in the driveway.
A police officer stood guard on Wednesday outside the house in the upmarket Morningside area of the city.
Public and political anger has been mounting over the award of a £700,000-a-year pension to Goodwin, 50, who quit as chief executive last October as the government stepped in to save the bank from collapse.
