| Author |
THE DEFICIT Replies |
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
 |
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
 Posted: Thu Nov 10, 2011 9:39 am Post subject: |
 |
|
Yes Horatio, we are an oil exporter:
| Quote: | The U.S. trade deficit unexpectedly shrank in September to its narrowest level since December on record-high exports, while the flow of imports from China slowed.
The seasonally adjusted trade deficit was $43.1 billion, down from a revised $44.9 billion in August, the Commerce Department said on Thursday. Analysts had expected the trade deficit to widen to $46 billion. U.S. exports rose 1.4 percent to a record-high $180.4 billion, while imports were $223.5 billion.
Imports from China, which are not seasonally adjusted, fell to $36.4 billion in September from $37.4 billion a month earlier, narrowing the trade deficit with that country to $28.1 billion. |
Indeed, many forget, this "breadbasket to the world" was first and foremost a commodity country.
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Tue Nov 01, 2011 9:45 am Post subject: |
|
|
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Sat Oct 29, 2011 4:42 am Post subject: |
|
|
Every little drop counts:
| Quote: | Breitburn isn't the only California oil company looking to reverse California's long decline in oil production. Over the last five years, privately held Signal Hill Petroleum has buried 6,000 small yellow canisters around Long Beach and Signal Hill that contain sophisticated equipment so sensitive it can record the vibrations of a person walking past.
The devices work in tandem with the company's fleet of "vibroseis" trucks, 68,000-pound vehicles that use hydraulics to bounce. The bouncing trucks produce vibrations that create images of formations as far as 3 miles underground, said Dave Slater, chief operating officer for Signal Hill Petroleum. |
http://www.latimes.com/business/la-fi-oil-boom-20111029,0,7414545.story
This is California BTW.
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Wed Oct 19, 2011 7:48 am Post subject: |
|
|
Chinese doing some serious "profit-taking" on treasuries as market hysteria makes us "self-funded"--just what the doctor ordered 
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Wed Sep 14, 2011 6:38 am Post subject: |
|
|
The rich are still getting richer...and so is the country:
http://blog.yardeni.com/
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
|
| Back to top |
|
|
diesel
Moderator
Joined: 05 Oct 2006
Posts: 793
Location: Australia & New Zealand
|
| Posted: Thu Jul 28, 2011 4:44 pm Post subject: |
|
|
I would disagree smile. The legislative branch enacted a law which is at odds with the constitution therefore the debt limit is unconstitutional. The president should tell treasury to continue paying the bills and take the case to the supreme court.
Note that Clinton has said he would go down this path if he was still president.
_________________
All cats are gray in the dark. |
|
| Back to top |
|
|
smile
Veteran Poster
Joined: 27 Mar 2010
Posts: 192
|
| Posted: Thu Jul 28, 2011 8:56 am Post subject: |
|
|
| diesel wrote: | | Quote: | | the government needs to cut federal spending by 40%, which would create a significant drag on the economy in the short term |
More than the short term. The great depression would look like child's play in comparison.
I cant believe things have got to this point in the US. The president should simply instruct the treasury to continue making payments and invoke the 14th amendment or instruct the federal reserve to allow an overdraft offset against its treasury holdings. |
_______
I'm no constitutional expert but just looking at it from a common sense point of view, the executive branch override of the legislative branch via invoking 14th amendment is probably not constitutional.
One aspect is if one thinks in terms of taxation w/out representation - a debt ceiling increase by executive override would be just that - since in order to back the higher debt, tax revenues/expenditures will have to be adjusted net in order to pay down debt or reduce deficit incurred from higher debt ceiling.
The other aspect is separation of powers. The executive override would supercede the power given solely to the legislative branch (Congress). Not what the framers had in mind me thinks. |
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Thu Jul 28, 2011 8:38 am Post subject: |
|
|
Yes. It's not the "deadline" or the debtload. It's the indecisiveness that just festers and erodes confidence that any disciplined approach to our finances can be taken in the years to come.
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
diesel
Moderator
Joined: 05 Oct 2006
Posts: 793
Location: Australia & New Zealand
|
| Posted: Thu Jul 28, 2011 3:31 am Post subject: |
|
|
| Quote: | | the government needs to cut federal spending by 40%, which would create a significant drag on the economy in the short term |
More than the short term. The great depression would look like child's play in comparison.
I cant believe things have got to this point in the US. The president should simply instruct the treasury to continue making payments and invoke the 14th amendment or instruct the federal reserve to allow an overdraft offset against its treasury holdings.
_________________
All cats are gray in the dark. |
|
| Back to top |
|
|
HenryTo
Site Admin
Joined: 06 Aug 2004
Posts: 11742
Location: Los Angeles, California
|
| Posted: Thu Jul 28, 2011 12:44 am Post subject: |
|
|
Bridgewater comments on the US debt ceiling:
| Quote: | An Update on the Implications of Not Raising the Debt Ceiling
The continued impasse over raising the debt ceiling in Washington means that the possibility of a technical default by the US government, while still unlikely, has risen in the last few weeks and cannot be ignored. Achieving a deal in time for the August 2 deadline is increasingly at risk, and it's more likely that any deal will be less ambitious and shorter-term in nature than earlier plans. Given the current proposals on the table, there's a growing possibility that even if a deal is struck before August 2, the debt ceiling debate will come to a head again before the end of the year. In the last two days, the markets that are most affected by the risk of a US default have experienced their biggest moves so far and at this point are pricing in a reasonable chance that a deal to raise the debt ceiling will not be reached before the current deadline.
Even if a deal is not completed by August 2, default is still unlikely, because the Treasury has some flexibility beyond that deadline to buy time (on the order of days, not weeks). Beyond those steps, the Treasury could most likely avoid default temporarily by engaging in a partial government shutdown. There are some legal and practical questions about the Treasury's flexibility along these lines, and there are some political questions that we can't answer for sure, but the odds are a default can be averted for some reasonable period even if the debt ceiling is not raised. In order to make debt payments without taking on new debt, the government needs to cut federal spending by 40%, which would create a significant drag on the economy in the short term, and add pressure on policymakers to come up with a deal to resume spending quickly. Even a technical default, as long as it is for a short period, appears to be manageable, although that will depend on how investors end up reacting. Even with the recent moves, the markets are still pricing the debt ceiling event will be no big deal. While we're not sure of anything, our digging suggests that this is probably right. Here is how we see the market pricing and the implications. |
|
|
| Back to top |
|
|
rffrydr
Moderator
Joined: 30 Oct 2005
Posts: 16939
Location: Sunny California
|
| Posted: Wed Jul 27, 2011 7:34 am Post subject: |
|
|
Our online stuff has traditionally excluded "Alaska and Hawaii" on shipping. Looks like all that investment on the high seas has finally broken that barrier. 
_________________
Today is the Tomorrow you worried about Yesterday! |
|
| Back to top |
|
|
diesel
Moderator
Joined: 05 Oct 2006
Posts: 793
Location: Australia & New Zealand
|
| Posted: Tue Jul 26, 2011 5:41 pm Post subject: |
|
|
Retail hurting a lot here in Australia/NZ as consumers turn to US internet shops for there goods. Retailers being thrown under the bus....
_________________
All cats are gray in the dark. |
|
| Back to top |
|
|
Please log in to view without the ad banners |
|
|
FAQ
Search
Memberlist
Usergroups
Statistics
Register
Profile
Log in to check your private messages
Log in
