Debt tensions flare up as Ireland denies bailout

goingbroke

Investing in goverments is a self destruct policy.....Socialism is great until you run out of other peoples money

Wolf359

Yes, as Margaret Thatcher said. I had someone tell me after Obama won the election that Capitalism sucks for people on the bottom, so Socialism was better. What they failed to understand was that because of Socialism you never leave the bottom and 90% of the population joins you.

CaptHenway

"Denies" or "denied"?

Bear

Their seems no way out without a partial default on National and State debt

or allowing the bush cuts to expire. No one can dig out of debt with falling revenue.

If our so called responsible Government just attempts to kick the can down the

road instead of biting the bullet, then they should be ashamed of themselves.

fishcooker

Wonder if the government will do the same thing to Treasury investors, that they did to GM investors.

jmski52

Wonder if the government will do the same thing to Treasury investors, that they did to GM investors.

When it came to GM & Chrysler, it was fine to stiff the bondholders in order to pay off the unions & union retirees. So much for bankruptcy law.

But when it came to AIG, they had to trash the FASB accounting rules and stuff the coffers with cash so that Goldman Sachs could be made whole.

This is banana republic capitalism, if there is such a thing. It sure ain't free market anything.


No one can dig out of debt with falling revenue.

Unless they stop spending.

Tomohawk

I was watching Kudlow on CNBC...they had a "former Democratic adviser" whose name escapes me...this guy was making a case at how "successful" the GM bailout was...heck, the Taxpayers are "going to get back most if not all" of their "investment," over 1,000 jobs (I know, 1,000!!!) were "saved," and GM is coming out with $20-some Billion in new (read: suckers) funding.

Funny how he didn't mention the stiffed bondholders, the ramrodding of the GM brass out the door, and the thousands of workers laid off or underemployed when they shut down half of the GM dealerships.

Kinda funny...I wonder what would happen if they did the same thing to the Federal Government? Probably bring indictments and jail time...

Edited to remove too many laid off workers!

Bear

For starters, I would just like to stuff all the execs of Goldman Sachs in prison for 100 years

or death. Which ever comes first. All Lobbyists representing for profit companies, to be ground

up and turned into animal feed. Using a public vote, hang the 50 most obnoxious people in the

Congress.All Companies that manufacture and assemble in the USA shall be tax free for the next 10 years.

VAT tax to replace the income tax. Lets make it simple, the more you buy, the more you pay.

Of course, the sale and purchase of coins and PMs to be free of all taxes, of any kind.