Asian Markets Up After Debt Ceiling Agreement

[liveonearth]

http://www.washingtonpost.com/business/economy/asian-investors-anxiously-monitor-us-debt-talks/2011/07/31/gIQAAyq9lI_story.html?wpisrc=al_economy

I guess they're happy that we can keep steering their freight train toward that cliff. Obama is the pragmatic fall guy, demonized by most. He calmly goes about the business of finding something productive that we can agree on. He is willing to disagree with his own party, which is refreshing and hopeful. His positions make sense to me. I have long been disappointed that he could not take on big business more directly. I know he wants to, the socialist pig. Just now though with today's agreement we see that the guys with the corporate jets have as much control over the law as everyone who is afraid to see medicare cut.

Comments

[ford-prefect42.livejournal.com]

Just to have it said... The debt limit has not been raised. The closest thing that can be said to date is that a few of the high leadership have come close to an agreement on the framework of an eventual agreement. Look for more histrionics before a final bill is passed.

[liveonearth.livejournal.com]

Yeah, I get it, they have to vote on it. I am glad I will be too busy to pay any attention to the news today, the blitz is aggravating.

[ford-prefect42.livejournal.com]

It does not appear to me as though the financial marketplace has greeted the deal with great jubilation.

[liveonearth.livejournal.com]

The Asian markets were overall up yesterday. I haven't followed what happened today.

[ford-prefect42.livejournal.com]

Down hard.

Credit review agencies saying that the US will probably still lose the AAA.

Both sides (for a novelty) are claiming abject defeat on the deal. Don't see that every day, usually both are claiming *victory*.

[liveonearth.livejournal.com]

That's great that both sides are claiming defeat. It means we finally had an actual compromise.

[ford-prefect42.livejournal.com]

Compromise between food and poison is still death.

I wonder when "compromise" became such a noble buzzword. When it started to be accepted in the general parlance that virtually any action is okay, so long as it falls somewhere between the opposed views. Compromise itself is neither good nor bad, it depends on what the proposed options are. Try walking in the literal "middle of the road" sometime. See how that goes for you.

The one thing that all the *real* grownups in the room, by which I mean the bond rating agencies, agree on is that the current course is not sustainable. That means that we're going to have to do something *different*. What we *have* been doing for decades is "compromise". This plan is no different.

The Conservatives are claiming defeat because the "cuts" are illusory and unlikely to actually happen.

The Liberals are claiming defeat because the tax increases didn't happen.

So the "compromise" between those 2 positions is a certainty of decline for the US as a nation. Yes, they got a "compromise" between the 2 oppsing groups, much to the detriment of the nation.

[liveonearth.livejournal.com]

Compromise is not a buzzword. It is the basis for our system of government. If our congresses cannot compromise, our system fails. It was difficult compromise that got us started, and the persistent difficulty of finding compromise, and the inadequacy of the compromises reached, has us in our current situation. The two sides attempting to find a compromise are both corrupt and misguided. We need a revolutionary new approach. We have elected a few people who are ready to provoke that revolution, but many who got in under than banner have turned to compromising with the corruption that rules instead of sticking to their guns.

Our freight train is still headed for the cliff.

[ford-prefect42.livejournal.com]

The point I was making was that compromise is not always a good thing. It is frequently, in fact, the bowing of the right before the corrupt.

I'd agree with you that in a heckofalot of instances, compromise makes perfect sense, but sometimes, it doesn't. Generally, it depends on who is doing the compromising, men of intelligence and integrity trying to ultimately produce similar results can usually come up with a "good" compromise, one that betters the situation. But when those of integrity and good-intention compromise with the corrupt, corruption is what wins.

Hamilton VS Jefferson, this is not.


I am curious how you respond to the "tea party are terrorists" commentary from Biden, and all the other rather shocking partisan rhetoric coming from the white house.

[liveonearth.livejournal.com]

I hadn't even heard about it, that's how little news I've been taking in. I got enough the other day to last me for about a week. I just looked it up and it appears to me that he made an ass of himself. Principled stands are not terrorism. The long view is not foolish. The Dems who do not understand why the Tea Party folks are so obstinate need to study harder, and notice that freight train that they also are riding on. They need to get worried about something other than re-election.

What other shocking partisan rhetoric would you have me google? Did Obama say something asinine too?

[ford-prefect42.livejournal.com]

Obama rarely goes off prompter in public. I wasn't overly fond of the continued "Blame Bush" mentality, because at some point, he does have to accept that he *is* the president. Or the outright falsehoods that he used, such as "cut domestic spending to the lowest level it’s been since Dwight Eisenhower was President" when in fact no actual reductions were proposed by either side, only a reduction in the growth rate. I am *very* unfond of the "class warfare", rhetoric, when the numbers are so abysmal (the famous "corporate jet loophole" is estimated at 3 billion over 10 years). But I cannot claim that Obama said anything particularly absurd in the last few months.

Nancy Pelosi, on the other hand...
"This is an excuse ... a budget deficit is an excuse for the Republicans to undermine government, plain and simple. They don't just want to make cuts. They want to destroy. They want to destroy food safety, clean air, clean water, the Department of Education. They want to destroy your rights. They do not like government," House Minority Leader Nancy Pelosi (D-CA) said.

And Harry Reid came out with this gem:
“Our No. 1 job should be creating jobs, but the Tea Party-driven House of Representatives seems to have another agenda and that is bring the government down."


Not exactly feeling respected by the opposition here.

[liveonearth.livejournal.com]

I have no defense for Pelosi. She lost me years ago. Of course the Demobs commentary on the Repugs is frankly tame compared with the routine lambasting of all Demobs by a huge assortment of Repugs. The Repugs not in office seem to be the most likely to say truly horrific things... of course because re-election is not at stake.

Now, where was that margarita?

[ford-prefect42.livejournal.com]

I will admit that I hold current office-holders to a wildly different standard than I do the current leadership of the country. I feel that that is justified because they are not, at that time, professionally committed to working with and maintaining a working relationship with, those that they are demonizing.

Rush Limbaugh is not Harry Reid. Very different standards apply.

^offers a margarita^

[ford-prefect42.livejournal.com]

BTW, I have never seen the term "Demobs" before, what is the implication?

[liveonearth.livejournal.com]

Repugnicans and Demoblicans.....are two parties that are both repugnant and moblike and more similar to each other than either wants to admit.

[ford-prefect42.livejournal.com]

I have never seen that one before. I have seen "repugnicans" a lot before, bet never demoblicans.

But I looked up on Urbandictionary. Seems it's "Republicrats and demoblicans", for what you are pointing at (the 2 indistinguishable parties).
www.urbandictionary.com/define.php?term=Demoblican


Just sayin', the "repugnicans" one is pretty offensive.

[liveonearth.livejournal.com]

I made them up. Any similarity with others' made up words is purely coincidental. I find the current Republican party's behavior repugnant, and that is why I made that word. The Tea Party is my main hope for a resurrection of an ethical Republican party, and they are pretty scrambled.