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  • Fiscal cliff

    What the fuck is a fiscal cliff?

  • #2
    http://www.google.com.au/url?sa=t&rc...KVTkh9CcZVMtQQ

    Weird stuff....

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    • #3
      Its a kind of Millenium Bug or Mayan Calendar prediction.

      There are a number of American government financial policies that are due to be implemented next year, mainly aimed at trying to reduce the enormous government debt. Some economists (well most of them it would seem) are predicting that if all the policies are implemented at the same time that the American economy would go into a freefall depression, bringing the rest of the world down with it, again!

      But as some people interpret the Mayan calendar to predict the world will end before then, it won't really matter anyway

      EDIT: Yeah, as above - Wikipedia is probably the best source of info on it.
      Adventure before Dementia

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      • #5

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        • #6
          From the top of the Fiscal Cliff you have a lovely view of Greece, Spain & Ireland...
          It didn't look that far on the map...

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          • #7
            Originally posted by Desmo View Post
            What the fuck is a fiscal cliff?
            Received this today;

            These figures are a little dated (the situation is now worse) but gives you some idea...

            Lesson #1

            US tax revenue: $2,170,000,000,000
            Fed budget: $3,820,000,000,000
            New Debt: $1,650,000,000,000
            National Debt: $14,271,000,000,000
            Recent budget cuts: $38,500,000,000


            Now lets remove 8 zeroes and pretend its a household budget.

            Annual Family income: $21,700
            Money the family spent: $38,200
            New debt of the credit card: $16,500
            Outstanding balance of the credit card: $142,710
            Total budget cuts so far: $38.50


            Got it??...... OK, now,



            Lesson #2

            Here's another way to look at the debt ceiling:

            Lets say you come back home from work and find there has been a sewer backup in your neighbourhood....and your home has sewage all the way up to your ceilings.

            What do you think you should do....

            Raise the ceilings, or remove the sewage?
            -

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            • #8
              Originally posted by agrid View Post
              Received this today;

              These figures are a little dated (the situation is now worse) but gives you some idea...

              Lesson #1

              US tax revenue: $2,170,000,000,000
              Fed budget: $3,820,000,000,000
              New Debt: $1,650,000,000,000
              National Debt: $14,271,000,000,000
              Recent budget cuts: $38,500,000,000


              Now lets remove 8 zeroes and pretend its a household budget.

              Annual Family income: $21,700
              Money the family spent: $38,200
              New debt of the credit card: $16,500
              Outstanding balance of the credit card: $142,710
              Total budget cuts so far: $38.50


              Got it??...... OK, now,



              Lesson #2

              Here's another way to look at the debt ceiling:

              Lets say you come back home from work and find there has been a sewer backup in your neighbourhood....and your home has sewage all the way up to your ceilings.

              What do you think you should do....

              Raise the ceilings, or remove the sewage?
              So they're fucked?
              In sterquiliniis invenitur.

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              • #9
                Re: Fiscal cliff

                Originally posted by Crobbo View Post
                So they're fucked?
                Only until the civil war starts in about 6 weeks time, then they'll have more important things to worry about.
                Do you remember the good old days before the internet?

                when arguments were only entered into by the physically or intellectually able.

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                • #10
                  When the family budget is so fucked
                  The family has domestics
                  Red neck familys might go out and pinch stuff of others to make up the short fall
                  Some might even get a little short temperd when out in the world trying to pinch stuff and get into a blue here and there.
                  REPENT MOTHER FUCKER
                  (anarchy in english )

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                  • #11
                    The problem is when people start comparing managing a nation (I chose the word 'nation' rather than 'economy' deliberately) to a business, or worse, a household. Honestly, those kind of comparisons are populist, smart-arse bullshit.

                    Not defending ANY government or party, but that kind of simplistic comparison shits me.

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                    • #12
                      true
                      but its seriously way out of my leage
                      so why not have a little fun rather than implode my little happy mind
                      REPENT MOTHER FUCKER
                      (anarchy in english )

                      Comment


                      • #13
                        Originally posted by shan View Post
                        so why not have a little fun rather than implode my little happy mind
                        Shall we have a hi-fi shoot-out for that?

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                        • #14
                          And the really stupid thing about the family budget example above, is that the family spent about $10,000 of their expenditure going round the neighbourhood blowing other people's shit up.

                          Disclaimer: the amount above is just a round figure for example purposes and is not an accurate reflection of US 'defence' spending.
                          Adventure before Dementia

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                          • #15
                            They can either default or inflate their way out of the mess ..... and they wont default.

                            I would not go anywhere near anything denominated in $US

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