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US is Set to Restage the Greek Tragedy
Der Spiegel ^ | 11/09/2012 | David Böcking

Posted on 11/09/2012 7:06:52 AM PST by SeekAndFind

The US has more in common with heavily indebted southern European countries than it might like to admit. And if the country doesn't reach agreement on deficit reduction measures soon, the similarities could become impossible to ignore. The fiscal cliff looms in the near future, and its not just the US that is under threat.

The US has finally voted and the dark visions of America's future broadcast on television screens across the country -- and most intensively in battleground states -- have come to an end. Supporters of both Barack Obama and Mitt Romney had developed doomsday scenarios for what would happen if their candidate's opponent were to win. Four more years of Obama, the ads warned, would result in pure socialism. A Romney presidency would see the middle and lower classes brutally exploited.

But following Obama's re-election, Americans are now facing a different, much more real horror scenario: In just a few weeks time, thousands of children could be denied vaccinations, federally funded school programs could screech to a halt, adults may be forced to forego HIV tests and subsidized housing vouchers would dry up. Even the work of air-traffic controllers, the FBI, border officials and the military could be drastically curtailed.

That and more is looming just over the horizon according to the White House if the country is allowed to plunge off the "fiscal cliff" at the beginning of next year. Coined by Federal Reserve head Ben Bernanke, it refers to the vast array of cuts and tax increases which will automatically go into effect if Republicans and Democrats can't agree on measures to slash the US budget deficit.

(Excerpt) Read more at spiegel.de ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: debt; deficit; greece

1 posted on 11/09/2012 7:07:02 AM PST by SeekAndFind
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To: SeekAndFind

Nobody is going to bail the US out


2 posted on 11/09/2012 7:09:31 AM PST by GeronL (http://asspos.blogspot.com)
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To: GeronL

Nobody can bail out the US.

Their fiat currencies are in worse shape than ours.

And China is crashing.


3 posted on 11/09/2012 7:11:03 AM PST by Ghost of Philip Marlowe (Prepare for survival.)
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To: SeekAndFind

Yeah, it’ll be a ‘Greek tragedy’ alright.....The Idiotid.....


4 posted on 11/09/2012 7:13:38 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: SeekAndFind
What could possibly go wrong?


5 posted on 11/09/2012 7:14:24 AM PST by Travis McGee (www.EnemiesForeignAndDomestic.com)
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To: SeekAndFind

The rest of the global economy depends on the US being healthy. If the US begins to go down the path of Greece, not only can no one bail us out, but it will become a re-inforcing downward spiral as weakness in the US sparks weakness abroad, which decreases the pool of credit to sop up US government borrowing, which causes more US weakness, which causes more weakness abroad, etc.

Pop some popcorn and watch the fireworks. The West—in one final lesson, will learn the fatal flaw of socialism and mob-ocracy.


6 posted on 11/09/2012 7:14:56 AM PST by Thane_Banquo ( Walker 2016)
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To: SeekAndFind

And, where is the Republican party drawing attention to the plunge in stock market values directly resulting from the election outcome. The leftist media presents the message in a weasel-way by calling it fear of the “fiscal cliff” without identifying those responsible for the cliff in the first place. However, that cliff would have been averted with a Romney-Ryan win. Wall St was anticipating that but the unpredicted Obama win led to people pulling out of markets in anticipation of lower earnings/higher taxes. It is one of the most direct and mathematically straightforward consequences in history.


7 posted on 11/09/2012 7:18:03 AM PST by iacovatx (Conservatism is the political center--it is not "right" of center)
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To: Travis McGee

Having fun with Photoshop, I see. Great work, especially the header. $:-)


8 posted on 11/09/2012 7:19:16 AM PST by Joe Brower (Sheep have three speeds: "graze", "stampede" and "cower".)
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To: Ghost of Philip Marlowe

China’s economy was one big shell game, those empty cities should have been a big glaring sign to anyone who was paying attention that it was all fakery


9 posted on 11/09/2012 7:20:54 AM PST by GeronL (http://asspos.blogspot.com)
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To: SeekAndFind
Boehner and Obama both liked the fiscal cliff because the debt ceiling problem was an unnecessary distraction to what was really important at the time; both retaining power. They both achieved their goal, so let's do the cliff as planned, so Americans can enjoy the benefits of these brilliant leaders who've retained power.
10 posted on 11/09/2012 7:29:13 AM PST by throwback (The object of opening the mind, is as of opening the mouth, is to shut it again on something solid.)
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To: SeekAndFind

I hope Republicans don’t cave in and compromise but they
will.

I would rather take the taxmageddon and the chaos that will ensue. If you hasten the impending economic collapse then
you will arrive faster at a place where you can really do a
thorough barn cleaning by whatever “means” necessary.


11 posted on 11/09/2012 7:31:33 AM PST by NeverForgetBataan (I am become Barry... destroyer of wealth)
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To: GeronL

That and the ridiculously low rates of electricity consumption.

Empty, dark, unpowered cities, roads not being driven on.

It’s amazing and frightening how many pundits in this country tried to sell us on a huge China boom (Jim Rogers anyone?)...USING “DATA” FROM THE COMMUNIST CHINESE GOVERNMENT.

They were all fake numbers.

But hey, they are just trying to protect their investment. If they can’t lend us more money, then we can’t pay them back, and they lose lots of cash.

Look for commodities to plunge when China starts selling their stockpiles to purchase food to feed their people, who have given up agriculture in droves to work in the cities.


12 posted on 11/09/2012 7:47:21 AM PST by Ghost of Philip Marlowe (Prepare for survival.)
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To: iacovatx

The plunge could be a legitimate, much needed correction to a massive bubble in the equities market.

Or it could be that TPTB are forcing it to plunge so that they can get another round of QE ‘to save the markets,’ which they will really use for their own profit.


13 posted on 11/09/2012 7:52:24 AM PST by Ghost of Philip Marlowe (Prepare for survival.)
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To: Ghost of Philip Marlowe

All that money we “borrowed” from China, where did they get it?

They didn’t. Much of it was monopoly money from the get-go, sort of like 5th hand derivatives.

It was all a shell game. The game is coming to a conclusion.

and why did anyone ever believe government statistics? Look at the US unemployment and inflation stats, both are totally fake.


14 posted on 11/09/2012 7:53:50 AM PST by GeronL (http://asspos.blogspot.com)
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To: iacovatx

The MSM only says that the “fisscal cliff” means the economy will be hurt by less government spending. The local FOX broadcast station was saying it this morning. They also did not say tax hikes they said “revenue” instead.

Drives me crazy.


15 posted on 11/09/2012 7:56:02 AM PST by GeronL (http://asspos.blogspot.com)
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To: GeronL

My voice is raw from shouting that from the rooftops.

It’s all a painted mirage.


16 posted on 11/09/2012 7:59:52 AM PST by Ghost of Philip Marlowe (Prepare for survival.)
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To: Ghost of Philip Marlowe

bump


17 posted on 11/09/2012 8:04:52 AM PST by GeronL (http://asspos.blogspot.com)
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To: SeekAndFind

And the communist democrats will rise from the ashes and extend their hand of tyranny as they look upon the destruction they wrought!


18 posted on 11/09/2012 9:32:03 AM PST by IslamE (epiphany)
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To: SeekAndFind
When I read the headline, I wonedered to myself, wHICH Greek tragedy? Nothing in the Oedipus trilogy seems to fit. And then I pondered the most complex of Greek tragedies, the House of Atreus.

Atreus then learned of Thyestes' and Aerope's adultery and plotted revenge. He killed Thyestes' sons and cooked them, save their hands and feet. He tricked Thyestes into eating the flesh of his own sons and then taunted him with their hands and feet. Thyestes was forced into exile for eating the flesh of a human.

I think it almost works if you consider Theyestes to be the American voting public. Our exile is coming. (Greek tragedies seem to include a lot of incest and cannibalism)
19 posted on 11/09/2012 10:20:50 AM PST by Dr. Sivana (There is no salvation in politics.)
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To: SeekAndFind

FORWARD

You get what you vote for.


20 posted on 11/09/2012 10:22:32 AM PST by Vaduz
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