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Metalworking (rec.crafts.metalworking) Discuss various aspects of working with metal, such as machining, welding, metal joining, screwing, casting, hardening/tempering, blacksmithing/forging, spinning and hammer work, sheet metal work. |
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Rolling Stone Bed-wetter Matt Taibbi: "Apocalyptic GOP Is Dragging Us Into a Civil War"
distro was:
alt.politics.obama,can.talk.guns,talk.politics.gun s,rec.crafts.metalworking,nyc.politics pruned to RCM On 11 Sep 2011 00:36:04 -0000, "Hand-wringing Democrat Pussies" wrote: In particular, the insane decision to turn the once-routine procedure of raising the debt ceiling (Lofgren notes it was done 87 times since WWII) into a political crisis revealed that the GOP party mainstream had sunk to the level of terrorism – holding our economic system hostage in exchange for political concessions. ============= This fails to consider the context. The prior debt limit increases were not to 100%+ GDP in peace time, and as soon as WW2 was over the debt was paid down. The government has placed itself and the nation/citizens in extreme vulnerability as a return to normal interest rates [c. 5.5% historical average on U.S. bonds] will be a disaster. Unfortunately, a continuation of zero interest rates would also be a disaster for savers and people living on a fixed income. It also makes it difficult to raise capital for expansion and new product development. It's called putting yourself between a rock and a hard place. Both parties are accountable. Both parties spent like drunken sailors on shore leave, albeit on different things. The democrats refuse to cut spending while the republicans refuse to raise taxes or close loopholes, with the result that the US national fiscal/financial position just keeps getting worse, even as the EU is about to tank. The credit implosion that just occurred was the direct result of the bipartisan repeal of Glass-Stegall, emasculation of the CFTC, and neglect by the SEC. A plague on both parties. -- Unka' George "Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants, but debt is the money of slaves" -Norm Franz, "Money and Wealth in the New Millenium" |
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