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Thread: What We Could Lose Under a Trump Presidency

  1. #41
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by pragmatic View Post
    It's actually a little over 3% of discretionary Federal budget. Which is probably the appropriate percentage to view.

    And it's still between $30-40 Billion dollars annually. Billions with a "B". So it is a lot of money.
    Senator Everett Dirksen: "You know, a billion here, and a billion there, and pretty soon we're talking real money."

    Senator Dirksen was quite the wit. He was once accosted by an angry voter who told him, "I wouldn't vote for you if you were St. Peter!"; to which Senator Dirksen IMMEDIATELY replied, "If I was St. Peter, you wouldn't be in my district!"

    Lord Peter Bauer, an expert in the field of economic development, once said that "Foreign aid is the best method ever devised for transferring wealth from poor people in rich countries, to rich people in poor countries."

    A LOT of truth in that little nugget......
    Thanks from res

  2. #42
    Radical Centrist BigLeRoy's Avatar
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    Quote Originally Posted by res View Post
    To be honest I think Roosevelt & Co got that one right the first time. Heavily regulate the financial industry and impose a division between commercial and investment banking. Glass-Steagall. I think the world should've followed that example instead of the US following the world model.

    The trade off is between stability and wealth creation. The current model allows for faster and more profitable investment opportunities, but is inherently unstable. Under Glass-Steagall the US had a very stable banking sector (and consequently the financial industry as a whole) but growth was much slower due to lower capital turnover.

    I am not a financial wizz kid. For the most part I dislike it because it comes down to the predictive ability of commodification of human labour and ideas into marketable goods. It is necessary, but the almighty status it has been awarded in the past three or four decades is entirely undeserved in my opinion.
    The FIRE Sector of the U.S. economy HAS become ever more dominant over those past three to four decades, and you are quite right that that is NOT a good thing.

    FIRE = Finance, Insurance, & Real Estate.
    Thanks from res

  3. #43
    Southern Strategy Liberal OldGaffer's Avatar
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    So which areas do we cut?

    The top five economic assistance categories in 2012 included global health and child survival, international narcotics control and law enforcement, and migration and refugee assistance. Other programs in the economic assistance category include the Peace Corps, international disaster and famine assistance, and disease control through the Centers for Disease Control
    That does not include military assistance, which is about half of our foreign aid and mostly goes to Israel. Government keeps US arms dealers flush shipping weapons overseas to our "friends"

    https://www.nationalpriorities.org/b...cent-spending/

  4. #44
    RNG
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    Quote Originally Posted by Madeline View Post
    That's not the only reason, but it is still true.

    So what caused the banking crisis in Greece? Why is Germany facing the very same now?

    Or, to put it differently, which nation's banks are so well-regulated IYO that we should strive to imitate them?

    Not the UK, not Finland, not Iceland, etc.

    Not Italy. Not Greece.

    What does that leave? Australia?
    And Canada.

  5. #45
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    Quote Originally Posted by chaos View Post
    Hundreds of Wall Street execs went to prison because of the 1990 financial scandal. Obama and Holder had zero indictments.
    Who went to prison in 1990? Hundreds of Wall Street executives? I don't really remember that. Is that right? I'm not saying it's not, but I don't remember that.

    Anyhoo...

    Clinton deregulated everything in the 90's. Then Cheney presided while Wall Street ran clearly off the cliff, like Road Runner running in mid-air until he realizes where he is. The policy for dealing with the 2007 crash was in place and rolling by the time Obama took office. Then he appointed a bunch of Goldman Sachs monkeys to his top finance positions. Then Congress gouged out huge chunks of Dodd-Frank until it lacked teeth. And nobody was prosecuted for anything. And still nobody has been.

    It amazes me how much this parallels what happened exactly 100 years earlier. In the 90's we had wild speculation, wealth inequality, monopolies and cartels, and they broke the economy. JP Morgan stepped in and bailed them out, but nothing changed, and things picked up right where they left off shortly afterward. WWI intervened and we stole everything the Germans had for a while, but eventually it all came crashing down. Nobody ever solved that, by the way. The U.S. economy was in the toilet until WWII came along. But the Glass-Steagall rules kept the wild speculators from destroying absolutely everything for a long time. Repeal that, deregulate pretty much everything, and we start all over again 100 years later. The speculation of the Internet bubble was insane, utterly stupid, but billionaires were made, influence was sold, and deregulation ran forward again. Cartels and monopolies appeared and took over. It ran and ran until it crashed in 2007, and the government stepped in and bailed everyone out...but nothing changed, and we picked up right where we left off.

    What will it take this time to clean up our act? WWIII? Seems the stakes of such a conflict have been raised to the point that we need to be more responsible. Freedom? Deregulation? Fine. But that only works if the actors are responsible. They're not. Clearly. Without any doubt. So the regulations were needed, obviously, and they should be reinstated.

  6. #46
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    Quote Originally Posted by Babba View Post
    This has been one of my main reasons for opposing Trump - besides the fact that he an idiot and certifiable. We have built up international relationships and have been a leader in the world and it has been overall a good thing for us and the world. For us to withdraw from all of that would be just plain wrong. This blog post makes that point much better than I ever could.




    Trump is too shortsighted and ignorant of history to understand all of this. And so many of his supporters think it's smart for us to disengage and they see it as putting America first, but ultimately, it's bad policy.

    https://www.balloon-juice.com/2017/0...t-to-consider/
    Ms. Babba,

    That horse has already left the barn:

    President Obama foreign policy widely seen as failure - Washington Times

    President Obama -- International Relations Are Worse

    U.S. has few good options for response to Philippines' Duterte | Reuters

    How U.S.-Saudi ties frayed under Obama | TheHill

    https://www.commentarymagazine.com/f...licy-failures/

    Barack Obama's Foreign Policy Failures Are Proving His Cynics Right | Time.com

  7. #47
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    I think Trump likes it this way. This is how he operates. Keeping everyone guessing and worrying works for him. He doesn't believe in allies. Ever. In anything. I wonder if he has a pre-nup with his wife? D'ya think? Of course he does. She's an object, a trophy and a sex toy, a necessary accessory in his universe. Trust? If she ever said, "Donald, trust me," she'd be divorced and out on her ass within an hour. I think Donald prefers that everyone around him is constantly guessing at his motives and goals. If they think he's actually crazy...then obviously they have NO idea what he wants or what he is going to do next. That has its advantages in battle. I'm just not sure he understands anything else.

  8. #48
    the "good" prag pragmatic's Avatar
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    Quote Originally Posted by res View Post
    Do you ever wonder how much influence and leverage does that money buy the US? You think you give it only out of the goodness of your hearts? Come on. It's a mixture, and the US does get its money's worth.
    Valid point. Have not argued to the contrary.

  9. #49
    res
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    Quote Originally Posted by BigLeRoy View Post
    Senator Everett Dirksen: "You know, a billion here, and a billion there, and pretty soon we're talking real money."

    Senator Dirksen was quite the wit. He was once accosted by an angry voter who told him, "I wouldn't vote for you if you were St. Peter!"; to which Senator Dirksen IMMEDIATELY replied, "If I was St. Peter, you wouldn't be in my district!"

    Lord Peter Bauer, an expert in the field of economic development, once said that "Foreign aid is the best method ever devised for transferring wealth from poor people in rich countries, to rich people in poor countries."

    A LOT of truth in that little nugget......
    Thanks for the quote. I very much intend to squeeze it in my answers on my exam in International Political Economy. It's an LSE exam so the quote is a double whammy. I know I don't have to explain to you why.

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