Post Reply
Page 1 of 3  •  1 2 3 Next
Switch to Forum Live View Biggest threat to global economy: Politics
2 years ago  ::  Jul 16, 2012 - 5:03PM #1
Druac
Posts: 11,554
D'oh!

money.cnn.com/2012/07/16/investing/imf-o...



NEW YORK (CNNMoney) -- The International Monetary Fund said Monday that the global economy should continue to limp along at a modest pace, assuming leaders in Europe and the United States do not make things worse.


In the latest update to its World Economic Outlook, the IMF said it expects the global economy to grow 3.5% this year and 3.9% in 2013. That's "marginally lower" than what the IMF predicted in April.


"The global recovery continues," said Olivier Blanchard, director of the research department at the IMF, during a press conference in Washington. "But it is a weak recovery, indeed a bit weaker than we forecast last April."






The other main threat to global economic growth is in the United States, according to the IMF.


"In the short term, the main risk relates to the possibility of excessive fiscal tightening in the United States, given recent political gridlock," the report states.


The so-called fiscal cliff represents trillions of dollars in poorly conceived spending cuts and tax increases that start to go into effect in January. Such measures include the expiration of the Bush tax cuts, middle class protection from the Alternative Minimum Tax, and more than 50 "temporary" tax breaks for individuals and businesses that have been on the books for years.


The IMF also called on U.S. lawmakers to increase the government's $16.394 trillion debt ceiling. "Delays in raising the federal debt ceiling could increase risks of financial market disruptions and a loss in consumer and business confidence."


Jesus Is My Savior...He Saves Me From REALITY!
---------------------------------------------
We created god in our own image and likeness!
[George Carlin]
---------------------------------------------
"Reason & Logic" - A Damn Good Slogan!
---------------------------------------------
"Religion is an insult to human dignity. With or without it you would have good people doing good things and evil people doing evil things. But for good people to do evil things, that takes religion." - Steven Weinberg, an American physicist
Quick Reply
Cancel
2 years ago  ::  Jul 16, 2012 - 6:23PM #2
Bodean
Posts: 9,430

Jul 16, 2012 -- 5:03PM, Druac wrote:

D'oh!

The IMF also called on U.S. lawmakers to increase the government's $16.394 trillion debt ceiling. "Delays in raising the federal debt ceiling could increase risks of financial market disruptions and a loss in consumer and business confidence."




I find it as no suprise that the "IMF" .. the socialist arm of the international banking community would want us to raise our debt ceiling, borrow more money, .... and sink the US Economy, so they can become the masters of the world.


Jefferson warned everyone about Bankers .... too bad nobody took his advice.

Quick Reply
Cancel
2 years ago  ::  Jul 16, 2012 - 6:33PM #3
Druac
Posts: 11,554

Jul 16, 2012 -- 6:23PM, Bodean wrote:


Jul 16, 2012 -- 5:03PM, Druac wrote:

D'oh!

The IMF also called on U.S. lawmakers to increase the government's $16.394 trillion debt ceiling. "Delays in raising the federal debt ceiling could increase risks of financial market disruptions and a loss in consumer and business confidence."




I find it as no suprise that the "IMF" .. the socialist arm of the international banking community would want us to raise our debt ceiling, borrow more money, .... and sink the US Economy, so they can become the masters of the world.


Jefferson warned everyone about Bankers .... too bad nobody took his advice.




LOL...do you debate every topic by screaming "Leftist!"?


Like it or not...we are now a part of a "Global Economy". What happens "over there" affects us here and what happens here affect them "over there". There is no going back or turning around...unless it all collapses and we start over...which may be what happens if we keep sitting on our thumbs.


Jesus Is My Savior...He Saves Me From REALITY!
---------------------------------------------
We created god in our own image and likeness!
[George Carlin]
---------------------------------------------
"Reason & Logic" - A Damn Good Slogan!
---------------------------------------------
"Religion is an insult to human dignity. With or without it you would have good people doing good things and evil people doing evil things. But for good people to do evil things, that takes religion." - Steven Weinberg, an American physicist
Quick Reply
Cancel
2 years ago  ::  Jul 16, 2012 - 6:53PM #4
aarroottoonn
Posts: 3,128

Jul 16, 2012 -- 5:03PM, Druac wrote:

D'oh!

money.cnn.com/2012/07/16/investing/imf-o...


NEW YORK (CNNMoney) -- The International Monetary Fund said Monday that the global economy should continue to limp along at a modest pace, assuming leaders in Europe and the United States do not make things worse.


In the latest update to its World Economic Outlook, the IMF said it expects the global economy to grow 3.5% this year and 3.9% in 2013. That's "marginally lower" than what the IMF predicted in April.


"The global recovery continues," said Olivier Blanchard, director of the research department at the IMF, during a press conference in Washington. "But it is a weak recovery, indeed a bit weaker than we forecast last April."






The other main threat to global economic growth is in the United States, according to the IMF.


"In the short term, the main risk relates to the possibility of excessive fiscal tightening in the United States, given recent political gridlock," the report states.


The so-called fiscal cliff represents trillions of dollars in poorly conceived spending cuts and tax increases that start to go into effect in January. Such measures include the expiration of the Bush tax cuts, middle class protection from the Alternative Minimum Tax, and more than 50 "temporary" tax breaks for individuals and businesses that have been on the books for years.


The IMF also called on U.S. lawmakers to increase the government's $16.394 trillion debt ceiling. "Delays in raising the federal debt ceiling could increase risks of financial market disruptions and a loss in consumer and business confidence."





The IMF is part of the problem. Ours and Europes problems are structural, namely vastly overspending, mostly on social programs that simply cannot be funded (along with propping up insolvent banks). Until and unless we confront the real problems, there will be no real recovery. This is a political issue, but not one that the IMF wants anyone to really focus on.

Quick Reply
Cancel
2 years ago  ::  Jul 16, 2012 - 6:55PM #5
aarroottoonn
Posts: 3,128

Jul 16, 2012 -- 6:33PM, Druac wrote:


Jul 16, 2012 -- 6:23PM, Bodean wrote:


Jul 16, 2012 -- 5:03PM, Druac wrote:

D'oh!

The IMF also called on U.S. lawmakers to increase the government's $16.394 trillion debt ceiling. "Delays in raising the federal debt ceiling could increase risks of financial market disruptions and a loss in consumer and business confidence."




I find it as no suprise that the "IMF" .. the socialist arm of the international banking community would want us to raise our debt ceiling, borrow more money, .... and sink the US Economy, so they can become the masters of the world.


Jefferson warned everyone about Bankers .... too bad nobody took his advice.




LOL...do you debate every topic by screaming "Leftist!"?


Like it or not...we are now a part of a "Global Economy". What happens "over there" affects us here and what happens here affect them "over there". There is no going back or turning around...unless it all collapses and we start over...which may be what happens if we keep sitting on our thumbs.





I would agree with you, but doubt you want to means test Medicare, and reform the welfare state; eliminate public sector unions, and abandon the promises made to public workers, to be replaced with something that can actually be paid.

Quick Reply
Cancel
2 years ago  ::  Jul 16, 2012 - 7:08PM #6
Druac
Posts: 11,554

Jul 16, 2012 -- 6:55PM, aarroottoonn wrote:


Jul 16, 2012 -- 6:33PM, Druac wrote:


Jul 16, 2012 -- 6:23PM, Bodean wrote:


Jul 16, 2012 -- 5:03PM, Druac wrote:

D'oh!

The IMF also called on U.S. lawmakers to increase the government's $16.394 trillion debt ceiling. "Delays in raising the federal debt ceiling could increase risks of financial market disruptions and a loss in consumer and business confidence."




I find it as no suprise that the "IMF" .. the socialist arm of the international banking community would want us to raise our debt ceiling, borrow more money, .... and sink the US Economy, so they can become the masters of the world.


Jefferson warned everyone about Bankers .... too bad nobody took his advice.




LOL...do you debate every topic by screaming "Leftist!"?


Like it or not...we are now a part of a "Global Economy". What happens "over there" affects us here and what happens here affect them "over there". There is no going back or turning around...unless it all collapses and we start over...which may be what happens if we keep sitting on our thumbs.





I would agree with you, but doubt you want to means test Medicare, and reform the welfare state; eliminate public sector unions, and abandon the promises made to public workers, to be replaced with something that can actually be paid.




Actually, as long as we start with the defense department first...and dismantle Homeland Security in the process...I'm all for hitting those as well. Of course, NONE of that is going to happen until we first clean-house in terms of career politicians and reform our election process, starting with campaign financing. In other words, if we do it across the board and for the right reasons, I’m all for it.

Jesus Is My Savior...He Saves Me From REALITY!
---------------------------------------------
We created god in our own image and likeness!
[George Carlin]
---------------------------------------------
"Reason & Logic" - A Damn Good Slogan!
---------------------------------------------
"Religion is an insult to human dignity. With or without it you would have good people doing good things and evil people doing evil things. But for good people to do evil things, that takes religion." - Steven Weinberg, an American physicist
Quick Reply
Cancel
2 years ago  ::  Jul 16, 2012 - 7:15PM #7
aarroottoonn
Posts: 3,128

Jul 16, 2012 -- 7:08PM, Druac wrote:


Jul 16, 2012 -- 6:55PM, aarroottoonn wrote:


Jul 16, 2012 -- 6:33PM, Druac wrote:


Jul 16, 2012 -- 6:23PM, Bodean wrote:


Jul 16, 2012 -- 5:03PM, Druac wrote:

D'oh!

The IMF also called on U.S. lawmakers to increase the government's $16.394 trillion debt ceiling. "Delays in raising the federal debt ceiling could increase risks of financial market disruptions and a loss in consumer and business confidence."




I find it as no suprise that the "IMF" .. the socialist arm of the international banking community would want us to raise our debt ceiling, borrow more money, .... and sink the US Economy, so they can become the masters of the world.


Jefferson warned everyone about Bankers .... too bad nobody took his advice.




LOL...do you debate every topic by screaming "Leftist!"?


Like it or not...we are now a part of a "Global Economy". What happens "over there" affects us here and what happens here affect them "over there". There is no going back or turning around...unless it all collapses and we start over...which may be what happens if we keep sitting on our thumbs.





I would agree with you, but doubt you want to means test Medicare, and reform the welfare state; eliminate public sector unions, and abandon the promises made to public workers, to be replaced with something that can actually be paid.




Actually, as long as we start with the defense department first...and dismantle Homeland Security in the process...I'm all for hitting those as well. Of course, NONE of that is going to happen until we first clean-house in terms of career politicians and reform our election process, starting with campaign financing. In other words, if we do it across the board and for the right reasons, I’m all for it.




Of course, since the DoD doesn't cause any problems for the country; however SS/Medicare/aid have a long term unfunded liability of 108 Trillion dollars. Add in public pensions that are underfunded and you are at 154 trillion. Yeah, start with Defense.


The last time we reformed campaign financing, we ended up with McCain Feingold, which made the problem demonstrably worse. I agree with your cleaning house, but we would need to have a Constitutional Amendment for that, and, in general, liberals (certainly some conservatives as well) don't want that.

Quick Reply
Cancel
2 years ago  ::  Jul 16, 2012 - 8:07PM #8
Druac
Posts: 11,554

Jul 16, 2012 -- 7:15PM, aarroottoonn wrote:


Of course, since the DoD doesn't cause any problems for the country; however SS/Medicare/aid have a long term unfunded liability of 108 Trillion dollars. Add in public pensions that are underfunded and you are at 154 trillion. Yeah, start with Defense.


The last time we reformed campaign financing, we ended up with McCain Feingold, which made the problem demonstrably worse. I agree with your cleaning house, but we would need to have a Constitutional Amendment for that, and, in general, liberals (certainly some conservatives as well) don't want that.




LOL...that first statement is almost funny...I'm not JUST talking about the DoD budget...I'm talking about everything related to the DoD...this includes the corporate welfare and influence of the Military Industrial Complex, the so-called Homeland Security apparatus, etc., etc. etc. which all do PLENTY of harm to this country and others, for that matter. I’m also talking about the unfunded wars in the Middle East, in case you forgot about those.


So, because we didn't do it right the last time, we shouldn't even bother trying? WTF?


Jesus Is My Savior...He Saves Me From REALITY!
---------------------------------------------
We created god in our own image and likeness!
[George Carlin]
---------------------------------------------
"Reason & Logic" - A Damn Good Slogan!
---------------------------------------------
"Religion is an insult to human dignity. With or without it you would have good people doing good things and evil people doing evil things. But for good people to do evil things, that takes religion." - Steven Weinberg, an American physicist
Quick Reply
Cancel
2 years ago  ::  Jul 16, 2012 - 8:44PM #9
arielg
Posts: 9,116

The FMI is not saying there should be a sudden change in policies, but that the government should show some signs of a willigness to deal with the real issues.


  Meanwhile, the debt limit should be raised, that is obvious.   It would have catastrofic consequences to the world economy if it is not.

Quick Reply
Cancel
2 years ago  ::  Jul 16, 2012 - 9:34PM #10
aarroottoonn
Posts: 3,128

Jul 16, 2012 -- 8:07PM, Druac wrote:


Jul 16, 2012 -- 7:15PM, aarroottoonn wrote:


Of course, since the DoD doesn't cause any problems for the country; however SS/Medicare/aid have a long term unfunded liability of 108 Trillion dollars. Add in public pensions that are underfunded and you are at 154 trillion. Yeah, start with Defense.


The last time we reformed campaign financing, we ended up with McCain Feingold, which made the problem demonstrably worse. I agree with your cleaning house, but we would need to have a Constitutional Amendment for that, and, in general, liberals (certainly some conservatives as well) don't want that.




LOL...that first statement is almost funny...I'm not JUST talking about the DoD budget...I'm talking about everything related to the DoD...this includes the corporate welfare and influence of the Military Industrial Complex, the so-called Homeland Security apparatus, etc., etc. etc. which all do PLENTY of harm to this country and others, for that matter. I’m also talking about the unfunded wars in the Middle East, in case you forgot about those.


So, because we didn't do it right the last time, we shouldn't even bother trying? WTF?





How is corporate welfare related to the DoD? Whatever, it is a waste of time to debate with you, because you fail to acknowledge the elephant in the room, namely government that is too large, and has promised too much to too many, and simply cannot keep those promises.  The DoD has a long term deficit of zero. None, nada, zilch. The general pension plans 154 Trillion. There is only ONE spending problem in the world, and that is it.


Shouldn't try for campaign reform? That is probably a good thing. The two sides have nothing in common on the issue, and no means to bridge the gap.

Quick Reply
Cancel
Page 1 of 3  •  1 2 3 Next
 
    Viewing this thread :: 0 registered and 1 guest
    No registered users viewing
    Advertisement

    Beliefnet On Facebook