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talkpoliticsI caught CNN the other morning and they had a special on this film
I.O.U.S.A. The Movie
short version on youtube as well.
http://www.youtube.com/watch?v=O_TjBNjc9Bo
I was wondering if anyone else had seen this film and what they thought. I'm not an economist I just know if this is how I spent money I'd be up shit creek. Then again I'm not a sovereign nation either. This was made two years ago, and it looks pretty damning, but is it manipulation of numbers and pretty charts and graphs? This was before a lot of shit went down and that big healthcare bill got passed... Starting at the 26 minute mark kinda sums up what the issues are going to be.
Although this was a good sign to me, Consumer debt falls by $11.5 billion in February
WASHINGTON (MarketWatch) - U.S. households paid down their debts in February for the 15th time in the past 17 months, the Federal Reserve reported... Outstanding consumer credit dropped by $11.5 billion, or a 5.6% annual rate, to $2.45 trillion in February following an upwardly revised $10.6 billion increase in January. Debts had declined for 12 straight months before January's increase and are down 5.2% from the peak in July 2008.
In February, revolving credit, such as credit cards, declined by $9.4 billion, or a 13.1% annual pace, to $858.1 billion. It's the third largest decline in revolving credit in the past 32 years. Read more on the Fed's website.
Non-revolving credit, such as auto loans, student loans and personal loans, fell by $2.1 billion, or a 1.6% annual rate, to $1.59 trillion in February.
although apparently its not all because we are actually saving monies and paying bills some of it is because agencies are just writing off bad debt as uncollectable
Outstanding debts can fall because consumers paid back more than they borrowed or because lenders wrote down the debt as uncollectable. Both factors have been important in the decline since the summer of 2008.
Like i said i'm not economist, i'd like to hear from people smarter then me in this area, right now it looks to me like this is untenable, we can't keep doing what we are doing now somethings got to change higher taxes, less benefits or a mix of both. Personally i could do away with the "benefits".
also is it just me or is Sarah Palin getting hotter
I.O.U.S.A. The Movie
I.O.U.S.A. – the 30-Minute Version from IOUSA the Movie on Vimeo.
short version on youtube as well.
http://www.youtube.com/watch?v=O_TjBNjc9Bo
I was wondering if anyone else had seen this film and what they thought. I'm not an economist I just know if this is how I spent money I'd be up shit creek. Then again I'm not a sovereign nation either. This was made two years ago, and it looks pretty damning, but is it manipulation of numbers and pretty charts and graphs? This was before a lot of shit went down and that big healthcare bill got passed... Starting at the 26 minute mark kinda sums up what the issues are going to be.
Although this was a good sign to me, Consumer debt falls by $11.5 billion in February
WASHINGTON (MarketWatch) - U.S. households paid down their debts in February for the 15th time in the past 17 months, the Federal Reserve reported... Outstanding consumer credit dropped by $11.5 billion, or a 5.6% annual rate, to $2.45 trillion in February following an upwardly revised $10.6 billion increase in January. Debts had declined for 12 straight months before January's increase and are down 5.2% from the peak in July 2008.
In February, revolving credit, such as credit cards, declined by $9.4 billion, or a 13.1% annual pace, to $858.1 billion. It's the third largest decline in revolving credit in the past 32 years. Read more on the Fed's website.
Non-revolving credit, such as auto loans, student loans and personal loans, fell by $2.1 billion, or a 1.6% annual rate, to $1.59 trillion in February.
although apparently its not all because we are actually saving monies and paying bills some of it is because agencies are just writing off bad debt as uncollectable
Outstanding debts can fall because consumers paid back more than they borrowed or because lenders wrote down the debt as uncollectable. Both factors have been important in the decline since the summer of 2008.
Like i said i'm not economist, i'd like to hear from people smarter then me in this area, right now it looks to me like this is untenable, we can't keep doing what we are doing now somethings got to change higher taxes, less benefits or a mix of both. Personally i could do away with the "benefits".
also is it just me or is Sarah Palin getting hotter
(no subject)
Date: 12/4/10 14:22 (UTC)Great Idea, I think though we should tax the poor more, they find it harder to press a button making all their money leave the country, and hell It's not like most of them could afford to leave their country with it :)
(no subject)
Date: 12/4/10 14:36 (UTC)Tax the rich fucks who are rolling in dough.
(no subject)
Date: 12/4/10 16:37 (UTC)erm *Cough, Neither can the rich, squeeze them till they squeel or emigrate if you wish, but little will come between arms dealers and lucrative wars.
Tax the rich fucks who are rolling in dough.
lol, but there are so few of them, is it not easier getting 1000 $1's from 1000 people than getting $1000 from 1 person? + think of the extra employment openings all those accounts to keep track of, new government departments in need of more letter heads, artwork, it's do the ecconomy a load of good </TIC>
(no subject)
Date: 13/4/10 10:15 (UTC)(no subject)
Date: 13/4/10 12:13 (UTC)ah, but as the western business and political models are based on debt.....
(no subject)
Date: 12/4/10 19:54 (UTC)From a practical point of view, if you were going to tax the rich to solve our financial mess, we'd need a top tax rate of 77% or so, assuming the rich didn't change their behaviors. Since doubling the income tax paid will definitely change people's behavior, you could increase the tax on the top earners to 100% and still not bring down our deficit. You would also run out of top earners.
If your answer is to tax more, you're really looking at doing something like doubling everyone's tax rate.