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Friday, October 4, 2013 - 04:04 pm This is really bad and real bad omen, this has nothing to do with the U.S Government, I hope you understand who's doing this. I think we have lost our freedom. The economy is crashing down. Have your say and opinions on this if you like. If you have the brains and a heart to know, please say your piece. I like to know how many people knows who know who is doing this. I just realized I made a spelling mistake, but who cares.
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Friday, October 4, 2013 - 07:34 pm Displace this thread please, it is the Catholic Church that ordered the shut down.
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Friday, October 4, 2013 - 10:23 pm No it's not the "B-lovers" this time,the shut down is just the first step towards setting the stage for something much more worse. Honestly i really don't give a damn nor am i afraid of what "it" has planned, i am taking a trip sooner then i thought so let it fall i'll be happy in another land.
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Friday, October 4, 2013 - 11:38 pm yep, i'm in another land. so i'm okay here. politicians in america just have too much ego, and it's the people that suffer because you ever know a politician with network less than a million usd?
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Friday, October 4, 2013 - 11:38 pm America has a booming economy and President Obama is the best president America has ever had. There's absolutely nothing to worry about. Even if America did default on its debt it doesn't mean it would be the end of the world.
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Friday, October 4, 2013 - 11:39 pm i mean networth
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Friday, October 4, 2013 - 11:44 pm If only we had President Obama in power in the UK it would be wonderful than the awful prime minister we have here in the UK.
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Saturday, October 5, 2013 - 12:23 am aye but I spy
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Saturday, October 5, 2013 - 12:28 am fLee, for the first time ever I agree with you. I wish you had Obama in power in the UK. You and he would be great together. You are certainly welcome to him. You have no idea about what you are talking about when it comes to America. You are just another socialist who can't understand the power of capitalism and freedom.
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Saturday, October 5, 2013 - 12:37 am Freedom? LOL! Not in America buddy!
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Saturday, October 5, 2013 - 12:37 am It's quite 'interesting' to see Americans talking about "socialism" and "freedom" without knowing what those concepts actually mean.. Obama is not a socialist, and freedom is not oppressed with a social (social is not socialist) healthcare system -_-'
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Saturday, October 5, 2013 - 01:14 am Nico are you an American? Have you even been to America? Obviously Dominik isn't an American which is fine. Funny though how you thought I was referring to healthcare. After all socialized healthcare has been so very successful every where it has been instituted. And no, I have never lived under socialism but I have been to socialistic countries. I prefer the freedom of my somewhat imperfect America. And I am sure you are quite content with wherever in the world you call home. And that is as it should be. Cheers.
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Saturday, October 5, 2013 - 01:17 am I live in America. Born and raised! But if we have so much freedom, then why does the government spy on its own INNOCENT civilians?
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Saturday, October 5, 2013 - 01:25 am I believe that if you have nothing to hide, then you shouldn't worry, not to mention that is HAS prevented terrorism in my European states such as the UK, France, Germany, and at home. Either ways, this is democracy, choosing what type of government we want. Here is the summary: Republicans = Communists Democrats = Socialists In a way they are similar, but they are on different sides of the left-right wing spectrum of politics. Obama has just been hated on by Republicans, hardcore. I wouldn't say he is the worst, but he isn't the best either, but I think he is doing above average. Republicans just want everything at its knees instantly. I wouldn't understand how someone can be a pure Democrat or Republican, it just that. But to me, Republicans skrewed their image up by CAUSING the shut down, when they should have assessed the BENEFITS of the Affordable Healthcare Act. Most Small Businesses already had Healthcare. Some argue it may congest doctor's offices or cause unproductive workers, but this is the opposite, it gives people a way to get healthcare. What we should do is talk about the debt ceiling.
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Saturday, October 5, 2013 - 01:48 am I dont mind having the government watching us...but if we have to expose our data, why cant they? And considering that innocent civilians are getting watched for other reasons other than terrorism...its kind of awkward...President Nixon resigned and nearly kicked out of office because he spied on a certain person but Obama does it and its fine? Hmmm.......I dont think Obama is the worst president but hes down there...not far...
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Saturday, October 5, 2013 - 01:54 am A note to all Americans from a European who loves America (hell, I've even attended an American Grade and High School in my country): What you call party division and partisanship in the US is a storm in a teacup compared to European political standards. Calling Obama a socialist is like calling Roseann Barr a supermodel (sorry for the example, guess I'm old). Obama bu European standards is a respectable mid-right politician, probably closer to the conservative or christiandemocrat european parties. The equivalent of socialdemocrat or center left european party would be the extreme liberal left wing of the democrats. The mainstream Republicans would be the extreme right wing in Europe, the tea party would be some nuthead party with 0.5% and the extreme left wing of Europe would be, er, illegal?
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Saturday, October 5, 2013 - 02:49 am Nico, now that you explain your statement I agree with you in that respect. We are on a very slippery slope with the domestic spying that has been undertaken by our own government against millions of innocent Americans. I have no tolerance for terrorists but these activities need to be restricted to those have been identified as having connections to terrorist individuals and organizations and not Americans at large. Space you need to think about giving your government that much intrusion into your personal life. Is it really necessary for them to read your emails and listen to your phone calls? Wouldn't we all be better served by a government that is more concerned about protecting us while protecting our rights? Both of you are likely young people and I am glad to see you taking an interest in what goes on in our country. I would ask you to really think things through on your own and make reasoned decisions about things. Just keep in mind while our country is not perfect it is still a great country for lots of reasons. Unfortunately it isn't because of our politicians. Rather it is in spite of them. And Christos you are right we in America don't know socialism like the Europeans. And that is really our point we don't want to although more and more Americans are slipping toward it without really thinking about what it would mean.
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Saturday, October 5, 2013 - 03:01 am .....Alright let me allow a founding father to speak some truth to @Space! Those who would give up essential liberty to purchase a little temporary safety deserve neither liberty nor safety. Benjamin Franklin
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Saturday, October 5, 2013 - 03:31 am
You dont have to roll in crap to know it stinks. Anytime you are FORCED into doing something your freedoms have been compromised. If you dont pay the penalty of not buying ObamaCare then the IRS (Interestingly they use the gov agency that already has its hands in your pockets) will take it from your bank account.... If you dont have it there, then they will suspend your drivers license. Besides when has ANY and I mean ANY gov program been beneficial. EVERYTHING they get their hands on is messed up. The only good thing about American bureaucracy is its inefficiency.
Where do you get the statistics that they have prevented terrorist attacks? I bet its from the same government agency that is wanting to take the freedoms and liberties away! All because the NSA says that it has stopped 50 terrorist plots, therefore it needs more power is hardly convincing. Has it ever occurred to many that the 'governments' that the US has supported and put into power are the very same exact ones that are now labeled as 'terrorists'. The 'rebels' that the US wants to put into power in Syria are what the US labeles as 'terrorists'. 53 years ago when then Soviet Premier Nikita Khrushchev made a speech before the U.N. he said: "America will fall without a shot being fired. It will fall from within." Then note the 10 points of the communist manifesto and ask yourself if this dont sound familier: 1. Abolition of property in land and application of all rents of land to public purposes. 2. A heavy progressive or graduated income tax. 3. Abolition of all right of inheritance. 4. Confiscation of the property of all emigrants and rebels. 5. Centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly. 6. Centralization of the means of communication and transport in the hands of the State. 7. Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan. 8. Equal liability of all to labour. Establishment of industrial armies, especially for agriculture. 9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equable distribution of the population over the country. 10. Free education for all children in public schools. and now you could prolly add Free state run HealthCare! .... im just saying!
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Saturday, October 5, 2013 - 04:17 am If the govt spying on its citizens is so effective, then why didn't it prevent the Boston bombing? Or the Kenya mall attack? And why if the govt is shut down, does the govt then proceed to send more armed guards to national parks to keep WW2 vets out than it sent to Benghazi in the midst of a major conflict in which Americans were in imminent danger? Is the only goal of Govt to suppress those who may oppose it? The constitution was written to restrain the Federal branch from becoming too powerful. There is nothing OK about Obamacare, which was written by the medical insurance companies who will benefit from the legislation. Nothing OK about the undermining of our right to be secure in our persons and effects. Nothing ok about "free speech zones" and the trampling of 2nd amendment rights. The public school system is a disgrace. Kids are being sent to govt institutions not to learn, but be indoctrinated by the system which corrupts the young mind. The constant use of false flags to further agendas is additionally troubling. But I sleep well at night, I have all I need to protect myself and my family in the inevitable event of financial/societal collapse.
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Saturday, October 5, 2013 - 06:49 am America is not going to fall...we have seen the rise and fall of many great empires such as America. The Roman Empire, the Muslim Empire, etc. all have rose and fell but they are still here in some form right? The Roman Empire is now Italy and the Muslim Empire is now Saudi Arabia. And for you Euro-snobs, nobody wants to hear you denounce America, I mean honestly give me one GOOD reason why you should hate America. Socialism is when everybody owns everything, so basically everybody owns the schools and businesses and so on, Communism is when the government owns everything and controls everything. But I do agree America is at a low point, corrupt people run the government and the corporations only care about money...as does every politician which are willing to pay millions just so they can "win".
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Saturday, October 5, 2013 - 07:43 am Amerika is not going to fall eh'...well sorry to tell ya but it fell a long time ago! "In the councils of government, we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military industrial complex. The potential for the disastrous rise of misplaced power exists and will persist. We must never let the weight of this combination endanger our liberties or democratic processes. We should take nothing for granted. Only an alert and knowledgeable citizenry can compel the proper meshing of the huge industrial and military machinery of defense with our peaceful methods and goals, so that security and liberty may prosper together." - Dwight D. Eisenhower Jan.17,1961 Btw what happened to that young man who replaced him in the oval office hmm,"63"
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Saturday, October 5, 2013 - 08:50 am Don't worry guys, it will hit Australia too. I know, this is really bad omen and because the damned Catholic Vatican wants to set up NWO too. That's why I said I think we have lost our Freedom. This is the only beginning of the World Destruction by the Pope. This is the Popes doing. I did not think I get this many in responses. This is very bad Agenda 21 and to just let you guys know, the Pope is the Antichrist, always have and always will, it is not Obama as the Catholics put him down as to fool people. Just my thought. I believe we have hit the Great Tribulation. There have been many lies and deception deceivers by the Catholics.
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Saturday, October 5, 2013 - 07:28 pm The Republics are far too right wing and only care about the rich people.
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Saturday, October 5, 2013 - 07:29 pm Since the 3rd quarter of 2011 the American economy has grown in every single quarter to date with one quarter even reaching 4.9% GDP growth. America is a very wealthy country with huge assets and there's plenty more room to increase the debt ceiling. I think $20000000000000 should be the next limit to allow for more infrastructure to be built. Obama Care is a wonderful idea and you Americans should be grateful that they have such a caring president who thinks about the poor and unemployed people.
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Saturday, October 5, 2013 - 08:18 pm Obama Care is also set up by the Pope, not the President.
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Saturday, October 5, 2013 - 08:25 pm I did follow the progress of the Patient Protection and Affordable Care Act and think the passing of this act is President Obama's greatest achievement. Humanity is far more important than profits and ruthless capitalism.
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Saturday, October 5, 2013 - 08:52 pm Frankly, I find it funny that some people think that Obamacare is a socialist ideal.....which is odd seeing that many of America's allies have health care provided by the government, one of which is to our north.
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Saturday, October 5, 2013 - 09:03 pm Hahaha,obamacare/ACA has nothing to do with healthcare yes it was labeled as providing free healthcare or reduced prices for insurance or whatever lie he invented to pass it, in the end scotus ruled/changed the law into a tax....see it's not about saving lives of the poor or young people like us,it was just a slick method of pushing higher taxes through the congress before the dickhead republicans could stop him.
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Saturday, October 5, 2013 - 09:31 pm America's next step should be to provide healthcare for free to every citizen as a basic human right. Paid for by taxing the rich and the mega corporations.
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Saturday, October 5, 2013 - 10:22 pm Last i checked the majority of the "rich" don't currently live here in amerika. you're comfy in the uk....hey that's where all the elites moved too yeah, see we can't tax them anymore because they live in a comfy upscale mini state in the uk and heres a little more funny bit of info about the rich who fled amerika. In the uk they don't pay taxes or really have a home there? what they did was buy vast amounts of property & changed the owner name to tweety bird, or a offshore business located in jamaica or whatever to avoid the racial trash or great un'washed such as us from even knowing where they live! they could be in china or japan or idaho who knows because they have dropped there id or wealth status from the face of the earth just so people like you can't and will never even dare dream of taking the money they stole from us all.
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Sunday, October 6, 2013 - 03:23 am Michael Wilson im not Catholic nor am i an advocate of their many pernicious dogmas however babbling like a lunatic about the pope taking over america is downright silly Edgar your ignorant.... possibly brainwashed.... and just because you have a very strict moronic perception of america in your head doesnt mean you can sit up on your horse and preach it down to us... this is a democracy and we will collectively decide what we are.... socialism and freedom are not independent of eachother...... do you think factory workers in the early 20th century had freedom? working 100 hour weeks? no probably not but maybe their industrialist masters did.... the freedom to wash away towns.... http://en.wikipedia.org/wiki/Johnstown_Flood.... and then build museums and call themselves philanthropists..... There is no justification for mass surviellence on us by the government..... the odds of dying from a terrorist attack are slim.... the odds of terrorism causing an unreversable malicious change in our society seems to be growing.... this is why we have the second ammendment The Communist Manifesto was created as a guide for the perfect society and implicating its contents with the soviet union is fallacy i will now explain each point 1. Abolition of property in land and application of all rents of land to public purposes (This is known as Eminent Domain an important stipulation in our Constitution that our freedom loving founding fathers saw fit to implement) . 2. A heavy progressive or graduated income tax. (Are we really debating this 100 years after the progressive era? o well only in america.... suggest you become educated... sociology and economics would be a start) 3. Abolition of all right of inheritance. (There is no abolition of inheritance... we have an estate tax but it is very small and makes sense.... we arent trying to build an aristocracy in america we can debate the effectiveness of this compared to actual underlying and fundamental flaws in our economy and education system but nevertheless the estate tax is hardly relevant) 4. Confiscation of the property of all emigrants and rebels. (can you elaborate on how this is occuring in the US) 5. Centralization of credit in the hands of the State, by means of a national bank with State capital and an exclusive monopoly. (No such thing in the US... and dont say the fed or the post office) 6. Centralization of the means of communication and transport in the hands of the State. (The government has always built roads and it actually makes perfect sense that the government provide essential services to people because of an inelasticity of demand) 7. Extension of factories and instruments of production owned by the State; the bringing into cultivation of waste-lands, and the improvement of the soil generally in accordance with a common plan. (examples) 8. Equal liability of all to labour. Establishment of industrial armies, especially for agriculture. (examples) 9. Combination of agriculture with manufacturing industries; gradual abolition of the distinction between town and country, by a more equable distribution of the population over the country. (examples? and dont say tax deductibles for living in Alaska) 10. Free education for all children in public schools. (please no) The government does lots of stupid stuff Obamacare is not one of them every single pseudo first world country and first world buys healthcare as a union and its no coincidence that the US spends so much more on healthcare per capita then every other nation on the planet..... the only complaint i have about it is that its a federal program instead of state.... now im going to have to pay for those fat slobs in mississipi to buy their diabetes medicene America is not at a low point by any index..... how laughable.... which america would you like to go back to? cold war? civil war? gilded age? Articles of Confederation?.... We have always had our ideals but we have always had ignorant people aswell william obamacare is not a tax in any sense of the word
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Sunday, October 6, 2013 - 03:38 am btw i think obama is setting a good precedent not allowing the debt ceiling to be used as collateral for repealing legally passed legislation... come to think of it we shouldnt have a debt ceiling for this very reason.... just like we shouldnt have fillibusters or gerrymandering but ehh we would all rather just argue about drugs abortion and guns
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Sunday, October 6, 2013 - 03:39 am "Argue" i mean
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Sunday, October 6, 2013 - 04:00 am 1st of all.... The Affordable Care Act is constitutional in part and unconstitutional in part. The individual mandate cannot be upheld as an exercise of Congress's power under the Commerce Clause. That Clause authorizes Congress to regulate interstate commerce, not to order individuals to engage in it. In this case, however, it is reasonable to construe what Congress has done as increasing taxes on those who have a certain amount of income, but choose to go without health insurance. Such legislation is within Congress's power to tax. - Chief Justice John Roberts @Thewhy the debt ceiling was designed for a male such as "Der Fuhrer" haha, but whatever happens i am not in the least concerned cus it's a great change coming along, the middle kingdom has regained its health & the latins are coming around slowly but steady and meanwhile all we got is how obama is not afraid of the teaparty yawn.
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Sunday, October 6, 2013 - 04:19 am it isnt a tax even if they used congresses power to tax as justification for the law... i think it could be justified under the elastic clause but im not a lawyer so whatever.... ethier way it just makes sense... idk why there is a debt ceiling... congress passes a budget oftentimes with a deficit... the president must borrow money in order to fund the legislation in the budget.... makes no sense to then limit the amount the president can borrow that congress has already implicitly authorized in passing a budget with a deficit..... no other country that i know of does this... but then thats what makes the US exceptional
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Sunday, October 6, 2013 - 04:36 am The limit on borrowing makes sense. It is the one time congress gets to take heat for excessive spending. I wish there were more checks like this on power. Think about it. Other bills there are estimates on what is spent and most Americans don't pay attention. Then, of course, the estimates are far off or manipulated with tricks in accounting. Think of the medicare "fix" that is often separated from other funding. I think there should be a constitutional balanced budget amendment. I am tired of congress having nearly unchecked power to pay favors to the electorate with our money.
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Sunday, October 6, 2013 - 04:36 am it's kindda like simcountry, you can spend more than you have. sc gm can magically make things for you in sc, but who will magically do for america?
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Sunday, October 6, 2013 - 04:38 am the president usually takes the heat for the debt limit just like with all things..... not to mention the heat our economy takes..... what happens when the interest on our 15T someodd debt goes up.... Greece is what happens
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Sunday, October 6, 2013 - 04:39 am XON thats a slightly simplistic version of how debt and credit works
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Sunday, October 6, 2013 - 04:44 am IMO,the healthcare problem america is suffering from could be solved fairly quick if we all united together as one people & had the courage & common sense to listen to this wonderful man,whom was way ahead of his time. You must all know half a dozen people at least who are no use in this world; who are more trouble than they are worth. Just put them there, and say, now sir or madam, now will you be kind enough to justify your existence? If you cant justify your existence; if youre not pulling your weight in the social group; if youre not producing as much as you consume or perhaps a little more, then clearly we cannot use the big organisation of our society for the purpose of keeping you alive, because your life does not benefit us, and it cant be of very much use to yourself. - George Bernard Shaw
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Sunday, October 6, 2013 - 05:22 am Coup d'etat, best solution
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Sunday, October 6, 2013 - 06:40 am @thewhy I do not careless what you say and I am not Catholic and I do believe you are one of them because you attacking your nonsense crap to me. Nothing will change my Faith from what I believe in. You will not stop me from things about the Catholic Church being evil and the Pope is behind all this, I know what is going on, if you don't preaching then go else where because I am not preaching, you can stick the preaching up ya ass, I don't go around and preach, I am telling you the truth what is going on and I have heard those words like you said about being IGNORANT, ONLY the Catholics say that, and you are ONE of them and for that, you are totally lying and I know that. If you don't like, then f**k off else where and don't respond back on this thread because this thread is NOT for YOU, you Catholics are condemned in hell for eternity. Jesus Father own Word's and now politely go and worship you Antichrist Pope. Do NOT bring your rubbish to me, nothing will change my Faith and belief and nothing will stand me down. You will go sooner than you think. Not my words, you will be condemned for eternity here in hell.
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Sunday, October 6, 2013 - 04:05 pm LOL
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Sunday, October 6, 2013 - 08:04 pm @Equinox Yeah exactly
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Sunday, October 6, 2013 - 08:58 pm @A select number of people Buy this book: http://www.amazon.com/Writing-Well-30th-Anniversary-Edition/dp/0060891548 It'll help
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Sunday, October 6, 2013 - 08:59 pm @thewhy and everyone else worried that the US will become Greece: The US owes dollars. The US prints dollars. China buys dollars. The US owes more dollars (fill the rest). This can go on forever. While: Greece owes euros. Germany prints euros. Germany does not want to print euros because Germany does not owe and holds too many euros. End.
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Sunday, October 6, 2013 - 09:35 pm christos just because a country prints its own money doesnt mean interest rates cant rise to crippling levels as they did in greece... interest rates arent leveled on the currency they are leveled on the country...... Germany has a higher debt to GDP ratio then the US Michael Wilson you are crazy.... i hope you are tryng to be satirical..... how can you claim to not be catholic and still talk about hell faith and the antichrist with im assuming a straight face William V "justifying your existence" sounds like a communist a-hole.... can you justify your existence? should you be obligated to do so? why?
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Sunday, October 6, 2013 - 10:24 pm @thewhy: Interest rates are not carved in stone. They're the result of the markets' (i.e. people running the markets) estimates on the chances a country has to default on its sovereign debt. If you would point out to me a country that has ever defaulted on debt owed in its own currency I would agree with you (but don't look it up - there is none, although the EU tries hard to change that). Anyway, this is not the place to discuss macroeconomics so I'll leave it to that. But don't worry, the US cannot default. Unless they want to.
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Sunday, October 6, 2013 - 10:26 pm Both SC and the Real World have gone into economic heck.
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Sunday, October 6, 2013 - 11:14 pm so china will eventually owns america? why don't germany wants to own greece?
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Sunday, October 6, 2013 - 11:18 pm @thewhy, that's exactly how to get yourself in debt people/countries should not be able to spend more than they have, so they don't dig your own graves?
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Sunday, October 6, 2013 - 11:25 pm Here's the thing, the print can go on, crazy people just make everyone go nuts and get scared on this. The Government prints more cash because the US Dollar is growing in the demand of its use. If it wasn't printed more often, then Hyper-deflation would occur, and interest rates would dip insanely, (Which isn't a good sign of the economy), so the US uses it as a little security on the dollar. Also, China will soon have their days counted, its destine to fail, since people don't know everything they should. China can't touch the US, the US and China are interdependent on each other. Instead of blaming the US military for increasing gas prices, we should blame them on China and Africa, since they are skyrocketing on Oil Demand, thus increasing demand, and in turn, increasing prices for oil. A little bonus: Just a few days ago, the US overtook Russia in Oil/Gas Production, so they aren't so happy about that. Notice I didn't say CRUDE Oil/Gas Production.
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Sunday, October 6, 2013 - 11:30 pm the odds of the US defaulting are in fact very low christos.... but these government shutdowns can cause uncertainty and credit downgradings..... but your right this is unlikely... anyways theres no reason to have a debt ceiling
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Monday, October 7, 2013 - 12:20 am I totally agree Ard, default is like suicide, and its pointless to have it, we will never default unless the world is somehow ending.
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Monday, October 7, 2013 - 12:23 am Pssst... Pssst: (Germany already owns Greece) Next on the shopping list: La France. And China is unfortunately destined to fall, only and only maybe could it be saved by democracy... If it ever becomes one.
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Monday, October 7, 2013 - 03:18 am lol, why don't you move out of the check out lane. Frankly, Germany has Spain and France on its list, as well as a little private island, Cyprus.
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Monday, October 7, 2013 - 05:43 am @thewhy Michael Wilson you are crazy.... i hope you are tryng to be satirical..... how can you claim to not be catholic and still talk about hell faith and the antichrist with im assuming a straight face To answer your question, very simple, I WAS Catholic in the past when I was adopted by a foster family, all my life I have been searching the real Jesus and His Father, NEVER once have I found Jesus in the Church. It took me 30 years to find Jesus by Faith with out the Church after for quite sometime when I left the Catholic in my twenties and yes, I did have some trouble along the way too. Then I realized, how foolish I was even when I was thinking of going back to the Church, then I stopped. This year I encountered Jesus and God several times even though fighting Faith Test by the devil himself too. I have seen hell in my sleep, and it is this earth it self. Faith is something that we can not see with our own physical eyes yet they are there in the Spirit and there is another life after we die. I know many people will not believe me because they're brained washed by the Catholic Church, it is clearly that God did say to me in my sleep, which again it is by Faith, that God can not save the Catholic Faith. That is all I can say about that. I am not being ignorant, I am just telling you the truth. I can not force anyone to leave the Church if they want to be saved, it is your choice, but to me, I can not go back, no matter how much people say to me on my youtube as well. I am against the Catholic and all other Churches and occults like Islam, theres too many of them to name.
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Monday, October 7, 2013 - 06:11 am @christo: (but don't look it up - there is none, although the EU tries hard to change that). Christo, i did and found this site. http://www.davemanuel.com/2010/02/12/the-last-13-major-sovereign-bond-defaults/ (the excerpt below is taken from a larger article.) Let's look at the list, starting in the summer of 1998: Venezuela, July 1998 - defaulted on $270 million worth of domestic currency bonds Russia, August 1998 - a massive $72,709,000,000 default that rattled the entire global economy. The trouble started in August of '98 when the country missed payments on local Treasury obligations, and later extended to include foreign currency obligations and MINFIN III foreign currency bonds. Russia's debts were eventually restructured in later years. Ukraine, September 1998 - $1.27 billion dollar default Pakistan, July 1999 - defaulted in July of 1999 but quickly resolved the situation Ecuador, August 1999 - missed a payment, leading an an eventual restructuring of over 90% of their bonds. Default amount was around $6.6 billion Ukraine, January 2000 - defaulted again (1.06 billion) in January of 2000. Defaulted on both DM-denominated Eurobonds and USD-denominated bonds. Ended up rectifying the situation by exchanging their current obligations for bonds with a longer term and lower coupon. Peru, September 2000 - defaulted on $4.87 billion of debt but rectified the situation within 30 days Argentina, November 2001 - a massive $82.26 billion dollar default that once again rattled the global economy and worldwide markets. Missed a payment in early 2002 - debt obligations were restructured and the country continued to receive funds from the IMF to aid in their recovery Moldova, June 2002 - defaulted on $145 million worth of debt, only to rectify the situation a short while later, once to default once again Uruguay, May 2003 - Argentina's troubles spread to Uruguay, and the government of Uruguay defaulted on $5.7 billion dollars worth of debt in May of 2003. The country eventually completed a restructuring of their debt obligations with their bondholders Dominican Republic, April 2005 - Defaulted on $1.62 billion dollars worth of debt in April of 2005. Eventually completed a debt restructuring that ended up extending the maturity of their debt obligations by five years Belize, December 2006 - Defaulted on $242 million dollars worth of debt in December of 2006 Ecuador, December 2008 - Defaulted on $3.2 billion dollars worth of debt obligations after calling several of their previous debt offerings "illegal and illegitimate". An unusual situation in that Ecuador is thought to have the resources NOT to default, but chose instead to default for "moral" reasons. *note* there were other sovereign debt defaults that occurred during this period, including Ivory Coast, Grenada and Seychelles, but these countries did not have Moody's ratings on their sovereign bond obligations at the time Source: Moody's - Sovereign Default and Recovery Rates, 1983-2008 Filed under: The Economic Meltdown
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Monday, October 7, 2013 - 06:48 am anyway, one could consider the US to have already defaulted in 1971 when Nixon took the USD off the gold standard and made it a fiat currency.
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Monday, October 7, 2013 - 06:55 am Such an interesting conversation, & i couldn't agree more claude balls.
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Monday, October 7, 2013 - 07:13 am @ claude: My point exactly. This is debt owed in foreign currency that the country cannot control. There can be no default when you control the currency in which you owe, except if you choose to do so. Economics 1.0.1. @ Bauer: Those who fail to learn from the past are doomed to repeat it. Germany thought she owned much of Europe in the past. Many times in fact. It didn't end so well. For any party involved, including Germany. Now, a new brand of arrogance, nurtured by ignorance, is emerging. The kind of arrogance that thinks an industrial export-oriented nation can survive by struggling its clients (and I'm not talking about little Greece). Unless the German elite wakes up soon, they will find that they succeeded in ruining Adenauer's, Schmidt's, Brandt's and Kohl's dream: To tear down borders and barriers on German trade and to make the DM Europe's single currency. You take high employment and wealth for granted but what happens when the Eurozone is torn and, let's say, Fiat floods the German market with Puntos costing 2,000 DM. What happens when German products get too expensive for the rest to buy? The answer is: massive unemployment and recession. Not for us but for you.
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Monday, October 7, 2013 - 07:22 am There is a limit to how much a country can print before people lose faith in the currency, China is currently using its USD reserves to buy up vast tracts of resources around the world, before the FED devalue it into oblivion...The only way the US can reduce its deficit and its liabilities is by devaluing its currency. At some point the USD will lose its place as the world's reserve currency, then interest rates will matter to the US. There is still massive amounts of debt in the international finance system that has to be extinguished. All this money printing can postponed this happening, but it will still happen at some point in the not so distant future.
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Monday, October 7, 2013 - 08:03 am I don't disagree with your last observations Claude - you do grasp the situation. I don't really believe though that the USD is anywhere near to losing its status as the global reserve currency. However, one or two presidencies like the GWB 8 years could go a long way to changing that! :P The only thing that could threaten the US position as I see it is, ironically, a serious Chinese slowdown in growth. This might be around the corner. After all, for every 3D printer made out there, 1,000 people in China will lose their jobs... Who knows?
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Monday, October 7, 2013 - 09:24 am Yes i agree Christos,the US has a while to run, its a powerhouse. China has a chronic debt problem at the local and state level, interesting to see how this plays out. I have read that when things go bad in terms of international currency failures, China may step in and back its currency with Gold, or the BIS could do it with the SDR. That would be a game changer...maybe China will be the one to rise from the ashes.
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Monday, October 7, 2013 - 09:36 am 3D printers? has that come out of R&D yet, last heard of that a decade ago. and i have yet to see one. hmm....if the startrek replicator becomes available on earth, then we will no longer worry about supply and demand of anything on earth? nothing will be shortage or oversupply, anyone can create anything as he needs. we could probably travel between earth and simcountry too?
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Monday, October 7, 2013 - 09:46 am 3d printers are very much a reality Xon - they have limited applications so far but they are the wave of the future (the near future, not the distant one)
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Monday, October 7, 2013 - 09:51 am so are they capable of producing all types of metal yet, or mostly just plastic products. just google them, and it seems that most of them are just using plastic-like materials to produce plastic type components? interesting i could use one if it could produce what i want now, i.e. food products
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Monday, October 7, 2013 - 06:05 pm 3D Printers print using the material you supply them, whatever that may be. They do not "produce" metals.
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Tuesday, October 8, 2013 - 02:20 am very interesting from the putting out system to the factory system and now to 3d printing.... so where are you guys investing your money?.... Michael Wilson lay off the LSD for me... for yourself
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Tuesday, October 8, 2013 - 06:07 am @thewhy I don't have LSD for whatever that shit is. Too bad if you don't believe, I do not give fuck damn if you kill my brains, you can not kill my soul. Since you are dedicated into Catholic lifestyle, you are condemned in hell for eternity with the Pope and his Church, have a good day and good time suffering in hell.
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Tuesday, October 8, 2013 - 11:50 am they can't print gold or silver...
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Wednesday, October 9, 2013 - 05:49 pm Hell in the biblical sense does not exist! It's just made up and is a work of fiction.
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Wednesday, October 9, 2013 - 06:45 pm Well, if you truly want to know what hell is, it is this earth. I seen it twice this year already. Now I know it is this earth as we are standing on it.
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Wednesday, October 9, 2013 - 07:59 pm Hell is not....i repeat is not this earth @Michael Wilson. also the fifth heaven is the location of "hell" or whatever one choose to call it.
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Saturday, October 12, 2013 - 06:48 am In Australia we pay a Medicare (Gov healthcare fund) tax of 1.5% of our taxable income. If you earn less than 18K a year you don't pay the tax at all, if you earn under 22K you pay a reduced amount. If you choose to take out your own private healthcare insurance, you don't have to pay the tax. This gives every resident access to healthcare when needed. Personally I think its a great program and it works rather well. And I can't see the downside to having a program like this set up in the good old U.S of A. I don't see why there is such strong opposition, am I missing something?
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Saturday, October 12, 2013 - 08:02 pm This is all the Republicans fault and they are wrong. Get yourself another political party.
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Sunday, October 13, 2013 - 12:04 am I agree Laguna, usually, I am more moderate, but its clear that the Republicans caused this, and ON PURPOSE! Idiotic, they even had it on paper that they were doing such a thing, its a good thing Obama is letting states fund their national/state parks now. The Statue of Liberty, the Grand Canyon, and other are now open.
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Sunday, October 13, 2013 - 01:22 am Well, I sympathize with the average GOP rep up for re-election facing an extreme right wing tea-partier who wants to ban everything (except guns of course). A man's got to keep his job doesn't he (a woman also lol). After all, from what I heard, there's been such gerrymandering lately, that most GOP seats are safe from outside attacks and only vulnerable to primary challenges. So everything that's going on is easy to interpret.
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Monday, October 14, 2013 - 03:14 pm I am by no means republican, but dont you think there should be some sort of responsibility in regards to debt? Something has to be done, dosent it?
C'mon man!!!! Maybe Obama will let us have our food stamps, our ObamaPhones, our public indoctrination/education and our ObamaCare? Many of the parks that the government closed were funded with private funds. There are even cases where the government shut down parks that were not funded in the very least by the government. This shutdown was specifically designed to make the PUBLIC.... you and I.... suffer as much as possible.
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Monday, October 14, 2013 - 03:30 pm agree with serpent !
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Monday, October 14, 2013 - 04:07 pm Of course there should be some responsibility in regards to debt. I'm all for that. After all I've seen the consequences since I live in a country whose politicians were completely irresponsible resulting in its bankruptcy (although the US could never go bankrupt unless they actually wanted to, as I stated many times in this forum)! However, this political bras de fer you're witnessing (and suffering from) in the States has absolutely nothing to do with debt. After all, it was GWB and not some free-spending Democrat who managed to tank the American economy, not to mention fill his corporate friends' pockets, by warring out of control. And out of context I might add ;) None of the politicians actually means to do anything about debt, as long as they own the printing presses. What they want is to focus the spending where they can get the most out of it in termas of votes, money and influence.
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Monday, October 14, 2013 - 09:08 pm
Yes. ObamaCare is an answer: it curbs healthcare costs. It boggles the mind that you guys didn't go single payer.
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Tuesday, October 15, 2013 - 04:01 am The jury is still out on if ObamaCare reduces cost. I actually dont know anybody that has signed up for the program. Many attempts, but none successful. As far as single payer system, I challenge you to find ONE example where the government has even remotely instituted a beneficial social program. True on the rare occasion... when lobbyists and other leeches of society hasnt been involved in the creation of the program... the intent was good. But within a very very short time the program is misused and abused. Just look at what happened in 2 hrs when the 'EBT' otherwise known as foodstamps system was offline and the system didnt keep record of the amount used on the cards, several Wal Mart stores had the shelves cleared when many took advantage of the system. This is just one of many many abuses of a system that for some reason people in the USA call 'entitlements'!!! Why are they called that? I cant see where the 'entitlement' part comes from. Maybe charity or something, but certainly not entitlement. The sad fact is, is that there is not one thing that can/will fix the problem of healthcare. ObamaCare is just somebody trying to put a 'band-aid' on the real problem of extremely high cost of health care. Of course there are other reason and factors that contribute to that high cost, but thats what the real problem is.
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Tuesday, October 15, 2013 - 05:21 am I caught the whole "EBT" crisis from drudge, america is really coming undone.
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Tuesday, October 15, 2013 - 05:33 am It's a shame we have people who take advantage of well-intended programs, and they really can't be prevented. It's also ashame how the proposal being made in the senate will down the medical electronic tax, which was struck down because of Unions begging for it to be down since it would hurt them. If it was still in, it would prevent prices from going up, and it would lower them to compensate for the cost of pre-existing conditions. Also, the Republican led "protest" that moved barricades from the Mall was on them. If they cared so much, they should have made a deal before they caused the shut-down. The House is responsible for making budgets, so they just decided to trick the public.
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Tuesday, October 15, 2013 - 03:50 pm If the program hasn't been implemented yet, what results are there to judge? At least give it a go, hey? But luckily for us, we can count on rational expectations: - Premiums in NY will go down by 50% http://www.nytimes.com/2013/07/17/health/health-plan-cost-for-new-yorkers-set-to-fall-50.html?_r=0 They will drop all over the country. - And you can always compare: http://theincidentaleconomist.com/wordpress/in-defense-of-canada/ Of the developed world, the US (probably) has the most inefficient health care system of them all: http://people.howstuffworks.com/why-pursue-health-reform1.htm - And there's always theory: http://www.aeaweb.org/aer/top20/53.5.941-973.pdf Republicans are wrong to bitch and moan over this.
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Tuesday, October 15, 2013 - 04:47 pm
I agree with that. However government regulation and interference has never been the solution. But I hardly think its a good idea to 'give it a go' when everything else the government has been involved in has been a failure. For every link or article that is posted as to why and how ObamaCare is good and reduces cost, several more can be posted that say the opposite. Thats why I try to simply use history as an indicator as to future behavior. According to that ObamaCare is a complete failure.
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Tuesday, October 15, 2013 - 06:08 pm Obamacare was designed to be a complete failure from day one. Hell the very insurance corporations he promised to fight are the main people who supported obama-care, and guess who stands to profit the most from the "law of the land" the cruel & great evil insurance companies. IMO, it's a little too late to stop this train america is just filled up with so many damn homer simpsons to come up with a decent means of pushing back against such madness.
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Wednesday, October 16, 2013 - 04:51 am America is just filled up with so many damn homer simpsons. that's true, maybe the truest statement on this thread.
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Wednesday, October 16, 2013 - 06:19 am Good to see i'm not alone in such thinking of our fellow americans haha. But i must admit something @Aaron, that is not exactly my feelings toward my brothers and sisters sadly these words come from the lips of a elite & powerful male within our government. "We think that, as my co-author, Thaler and I, that there's a little Homer Simpson in all of us. Sometimes we have self-control problems, sometimes we're impulsive and that in these circumstances, both private and public institutions, without coercing, can make our lives a lot better. "Once we know that people are human and have some Homer Simpson in them, then there's a lot that can be done to manipulate them." -Cass Sunstein.
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Wednesday, October 16, 2013 - 10:30 am doesnot Obamacare have any good benefits to US?
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Wednesday, October 16, 2013 - 07:32 pm Not really.
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Wednesday, October 16, 2013 - 11:34 pm Cite some unbiased, reliable sources, then you can try to convince him again.
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Thursday, October 17, 2013 - 12:01 am Their still not back up and running and things deteriorate day by day, the news says that unless they come to a conclusion than America is going straight to hell.
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Friday, October 18, 2013 - 02:55 am single payer is the way to go but ironically the reason why obama didnt was probably because he didnt want to rock the system so much.... many people already get their healthcare from their employer so it would be a large undertaking to overhaul all of that..... Serpent how would you suggest lowering the outrageous healthcare costs in this country without people coming together through the only national forum (the federal government) and implanting systems to lower costs..... Because thats what every other pseudo first world country does and it is successful the only problem here is anytime someone says socialism in the US people (tea partyers) go insane... but the fact is healthcare doesnt lend itself to a capitalist system... if your dying and need a drug companies can charge as much as they want unless you come together in a national forum and negotiate for a fair price..... that is capitalism any other way is oligarchy by the way when people talk about entitlements they mean social security and medicaid... which we pay for with social security and medicaid tax out of our paychecks for thus we are entitled to it talking about food stamps is a waste of time the cost of the government shutdown was higher then the annual cost of food stamps.... and im sure many people find many various social programs beneficial regardless of how many examples of misuse you can find in a country of 350 million people and can you show me how history has shown that obamacare is a failure?.... i agree that you can find many articles for and against something its just that some are written by partisan morons the only problem i have with obamacare is that its relatively complicated compared to a single payer system if it fails hopefully we will continue on to a single payer system.... oh and i think its a shame i may end up subsidizing some young fat alabamians diabetes medicene
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Friday, October 18, 2013 - 02:56 am oh and you never responded to our lively debate on the communist manifesto serpent? is there a reason for that?
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Friday, October 18, 2013 - 12:10 pm COME TO CANADA!!!!!! HEALTHCARE IS FREE BESIDES THE AMBULANCE!!!!!
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Friday, October 18, 2013 - 03:55 pm Socialist type programs never work. One could argue that Obama is an idiot. I happen to think the man is quite intelligent in his objective to ruin the USA. I am absolutely astounded at all the dum dums who voted him back in office. It's funny, I drive along the interstate and see signs that say "IMPEACH OBAMA". The problem with our country and its citizens is everyone wants something for free. I say get off your lazy butts and get a job!! Earn your keep. Right now my employer is going through massive lay offs due to the idiot in office, the sequestering and Obamacare. Of all the 3000 or so employees who have been laid off and more to be laid off, I hope that every one of these people voted for the idiot that has made this happen lol
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Friday, October 18, 2013 - 06:03 pm Aren't your fire departments over in the US socialist systems Jan?
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Saturday, October 19, 2013 - 11:52 am Amen to the wicked lady. Thewhy, those are some good points, altho I consider myself somewhat to the right of the tea party; I do think there should be a little different system of research/reward in place for the drug companies, so that it is profitable for them to do the necessary research, and yet the new medication isn't tied up for years... The FDA is one of the biggest villains on this score.
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Saturday, October 19, 2013 - 07:14 pm You see, this is why the US should elect me as president. Then, once in office, I will conquer both Mexico and Canada to form the North American Empire. After four years I'll then march on Central and South America, and "convince" them to surrender to me, thus forming the Grand American Empire. Every country can keep its current form of government(except communist countries, of course), so as long as they acknowledge me as their Empress.
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Sunday, October 20, 2013 - 01:00 am *sigh* the FDA is not a villain..... during the gilded age of the united states drugs were often patented as cures for common diseases when in fact they were random concoctions of things like mud, cocaine, windex, feces... whatever you can think of..... these drugs not only didnt have any health benefits they were often detrimental to ones wellbeing..... same story with food production a famous book called "The Jungle" i believe portrays this and prompted the creation of legislation by the great teddy roosevelt known as the Pure Food and Drug Act.... this included the formation of the FDA.... maybe the FDA could do their jobs better more quickly and more efficiently but you havnt shown me proof of this (i know conservatives arent real sticklers for facts)..... and i dont know whats further right then the tea party mclean...... Ben what your witnessing from thewickedlady is a complete irrational dislike for anything from the democratic party and obama.... im guessing wikcedlady lives in the south where they are inundated with this sort of political perspective.... they decry anyone on welfare ect ect as lazy bums and the cause to our countries woes regardless of facts and statistics and logic otherwise..... wickedlady the sequestration was a republican piece of legislation please get your facts....... i know you read lots of interesting entertaining books on conspiracy and intrigue but obama is not a communist african who wants to destroy the US from the inside.... it woudld make for a good story no doubt but is hardly realistic.... want to know something interesting though about your socialist programs never work comment? i know ben summed it up nicely when he ssaid fire departments are socialist but im going to go abit further and say that those damn socialist countries in europe consistently rank better then the US in indexes measuring the welfare of citizens.... this is no coincidence.... rationally implemented socialist systems do work.... and we wouldnt implement them if their wasnt science from professional sociologists to back them up.... and ian healthcare is not free im sure there is some sort of tax... the only difference is that canadians pay for their healthcare system in a way that makes sense while americans here decry such sense as socialist programs which never work citing one time government debacles in the IRS and FDA as examples of how government is flawed overlooking the history that occured prompting these programs to be implemented and by extension overlooking their success
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Sunday, October 20, 2013 - 04:04 am lol, I vote for Lisbeth!I go for the expansionist party! Its written in Manifest Destiny. If we were to conquer ALL the Americas, we would go better off :P
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Sunday, October 20, 2013 - 04:17 am The FDA was a good idea for its time, but like all institutions of this nature, it expanded its power far beyond the original intent. FACT: You can get effective, safe drugs in several countries other than the U.S. long before the FDA will approve them for us. They are documenting things like, "we gave a rat the equivalent of a traincar load of this drug, and it developed ulcers and intestinal gas. This drug is therefore not approved." Meanwhile, at the same time as life-saving medications are being held up in a limbo of red tape, they blithely approve things like Thalidomide. Where was the vaunted protection then?
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Sunday, October 20, 2013 - 07:28 pm it is true you can get safe effective medicine from other countries and im sure other countries have FDA equivalents.... the FDA is not the sole reason why our drugs cost 3 times more then in other countries.... it is legislation favoring pharma monopolies and then not giving people the ability to negotiate for a fair price.... this also has to do with your point about importing drugs from other countries... it also has to do with not giving people access to cheap preventative care and then having to scramble to save them from easily preventable diseases.... if only me made you head of the FDA maclean then none of this would happen but the fact is we need protection or else someone is going to be feeding you rat shit saying it will cure your arthritis
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Sunday, October 20, 2013 - 07:32 pm the fact is in my country we have an FDA and universal healthcare and people are happy.... we have 130 welfare under 4% unemployment and are supremely rich... check it out "respublica Ardglass" on WG
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Monday, October 21, 2013 - 01:34 am The Wicked Lady is truly wicked! Socialist programmes do work i.e. just look at the wonders achieved in Venezuela. Also President Obama is simply a brilliant man who isn't afraid to stand up for what he believes in. Free health care should be a human right especially in an economically wealthy country like America. If the republics had won in 2008 America would be in dire straights! Unemployment would have been through the roof with abject poverty affecting lots of people. The wicked Lady's employer probably would have been queuing at one of the many soup kitchens. The right wing are selfish greedy people who put profits before humanity.
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Monday, October 21, 2013 - 03:18 am Hey Equinox, Obama did win, and right now there are millions in abject poverty. we are in dire straits, and unemployment is thru the roof. How do you explain that? Down with Marxism/Leninism/socialist communism!
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Monday, October 21, 2013 - 04:41 am Never think in terms of ideology. It clouds the mind. From the mouth of a pragmatical man:
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Monday, October 21, 2013 - 05:11 am touche laguna
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