JC Political Thread - For All Things Political Part 2

[commodore665]

The Greeks aren't alone in bailouts. Remember this one?

https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program

$700B!! And the bankers still got their bonuses!

Exactly mate , look at China , their government is propping up their stock market , they are building ships no one wants , making products no one needs , it's going to go bang there too this is just round two of the GFC I reckon , New Zealand is in a dairy slump , our eggs have been in the one basket for too long .

 

[Skydrol]

Hell yeah....

Is interesting how that saying goes. ..

"Create the problem, later, become the solution"


https://en.wikipedia.org/wiki/Glass–Steagall_Legislation

Back in the 30s was created the Glass-Steagall Act. A very powerful act that kept bankers at bay. During the Bill Clinton administration in the 90s was repealed. Bankers engaged in predatory acts that spun out of control the banking system.

Since the 70s the Bretton Woods Conference went out the window. The Nixon's administration backed the US Dollar on itself, not gold. The US Dollar is the world reserve currency it creates a ripple effect across financial systems.

As far China.... I heard a podcast about a fund manager that just came back from China. He said that are lots of empty buildings because of what you said. Apparently, he was told, the crooked Chinese Gov officials took a cut of the deal by allowing the contractors to build at Gov expense. Nobody wants to move in because the apartments are too dam expensive.

Here, our economy is propped by buying the debt. Each time the Feds says they are not printing more cash, creates a panic. As is right now, we are printing cash to no end. We did that in the 70s and we cannot back the currency any more. Is going to be a worldwide train wreck. In the mean time, get close to the life boats and hope for the best. Just like Greece.


But..... it cannot happen here.

 

[commodore665]

But ......it cannot happen here ,..............famous last words .

 

[gossie]

But ......it cannot happen here ,..............famous last words .

It'll happen alright if the fools put socialist fools in to give what's left in the bank.

 

[commodore665]

It'll happen alright if the fools put socialist fools in to give what's left in the bank.

Sadly Greece was on a slippery slope before Alexis Tsipras became Prime Minister .

 

[Skydrol]

Well, it went like this from the start.

Now, since all is in a fire sale. Anybody wants to buy a time share at the Pantheon?

 

[Calaber]

On another subject. Bronwyn Bishop. Should she stay as Speaker or go?

As a conservative voter I can't work out whether she is arrogant, stupid or both. Her attitude reeks of "stuff voters - I'm entitled." Her general performance in the Speaker's role has been frequently criticized for its excessive bias and lack of impartiality. She's a dud and the revelations about her spending of allowances demonstrates what an arrogant ***** she is.

If Abbott doesn't shafts her pronto it will be to his detrment and would only reinforce the public's poor perception of him as PM.

This government doesn't need any more embarrassment and thats all she is now.

 

[Grennan]

She hasnt done herself any favors.

She shouldve shut her mouth and let it blown over. Every single pollie uses/abuses these travel allowances. Just shut up, grin and bear it. However, she hasnt done that. Shes made a dick of herself and now she has to be stood down.

 

[iChris]

But I thought that the age of entitlement is over?

A "suspected" asylum seeker boat has been spotted off Dampier here in WA. (Only 1500k's north of Perth) More embarrassing news for the government who has trumpeted over and over that they have stopped the boats. In fact a asylum seeker boat landed at Geraldton a little while back, sailed right into the harbor and that was only 450k's north of Perth, so it's not the first time it's happened.

http://m.perthnow.com.au/news/western-australia/asylum-seeker-boat-seen-off-wa-coast/story-fnhocxo3-1227448966208

 

[Calaber]

We all have a fair idea of how effective this government has been reducing the influx of boats and only die hard lefties would crow about an isolated vessel still getting through.

Ever looked at a map and seen just how vast our north western coastline is? Even the US Navy would be hard pressed to completely patrol that area and even if boats do slip through, the passengers still won't get Australian residency.