Can the ponzi last through the next election cycle?
Fitch downgraded the United States’ long-term credit rating as expected. This is basically the reason:
Thank you Barak, Donald, Joe, Janet, Jerome, Ben, US Congress et al.
My question is, can the ponzi last through the upcoming election cycle? Instability rears its ugly head from time to time like an alcoholic realizing he is slipping into the abyss. SVB bank, commercial real estate, Fitch credit ratings....
How easy or difficult will it be for the party in power to pin it on the other party?
Oh well, I guess we'll just let the good times roll... for now.
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When you spend fifty years trying to create a business economy where those same businesses evolve into huge corporations making ever more demands of it's workforce without paying them their economic due to re-enforce the profit margin without paying their share of the tax burden when recession and depression and finally COVID strikes and you DEMAND the government of the day continually BAIL YOU OUT to the point where you suck the country dry and workers would rather sell up and move in with their folks without the stupidity of folk at the top constantly rearranging the lifeboats as 'the unsinkable ship' starts to take on water (enough with the analogies you get where this is going) There was only one way this was going to end.
@irishmolly72 people try and get in illegally EVERYWHERE. Not just America. Take a look at the number of illegal crossings from France into the UK all because authorities in the E:U don't want to be held responsible for illegal migrants in THEIR COUNTRY despite the fact international law says they SHOULD do.
@Gloomy I fully agree the US has huge problems. In fact that's the subject of this whole thread. I have blamed both parties. How is that ignoring the problem? It's my conclusions that make you uncomfortable.
@irishmolly72 Do you know that passports hold unequal value? A US passport carries value so I doubt people feel the necessity to illegally migrate. 23,000 people from the US live in Venezuela.
@irishmolly72 Those ten nutjobs are currently holding the Republican party AND the U.S. to ransom because nobody in that party has the b*ll$ to tell Trump he hasn't a hope of being their choice of candidate at the next election, because he has more SUPPORT than anybody else ! It's a failure to recognise the world has changed, the 'traditional enemies' have GONE ! There is NO more Communism to fight ! There are NO more 'dictators' to validate the enormity of defence spending as the rest of your OWN country continues to struggle to SURVIVE.
@irishmolly72 Those aren't 'Dictators' hon. Those are BUSINESSMEN ! And they're a direct threat to the U.S. business model because they can produce the same only cheaper ! They're not interested in war. They want a slice of the capitalist system you guys have dominated for a century or more !
@irishmolly72 Putin made a dumb move by invaidng Ukraine yet he isn't a threat to the US but to Europe and China is a threat to US economic hegemony so only a threat to the ego of the United States and not to its people.
@irishmolly72 See strawmaning me again. The problem I have with money is the grip it has over peoples minds that its unequal distribution leads to massive inequalities and it became a mean of power. Human cooperation is diminished by it.
@Gloomy Human cooperation was diminished when the communists tried to eliminate private property and religion. In fact they had to murder people by the tens of millions just to get anything done.
@irishmolly72 Yeah religion has never divided people and lead to terror and warfare... oh wait that's exactly what religion is doing. I know you guys in the US love your fundamentalism but secularism and agnosticism is on the rise in most western countries. Private property doesn't serve people well either.
@irishmolly72 You starting to talk about my money claim in this conversation after I pointed out that the ego of the US getting knocked down is the only current threat the states have to face was a deflection
@Gloomy I have to counter one thing. Putin's invasion of Ukraine to claim territory is a global threat. Returning to the days where bigger nations absorb smaller ones threatens even the US. Globalized economies tend to require a good amount of stability to not collapse.
The US also needs to start being more cautious to avoid being that same source of instability. Though we've not gone conquering in a while, our tendency to try and play kingmaker and puppet master isn't much better.
These wars are global issues, whether we like it or not. But I'm willing to admit that I am speaking pragmatically and not from some moral high ground free of hypocrisy. I realize there are problems at home as well.
