marine1
Honorary Master
Greed was the cause of the melt down, the bankers responsible should all be in jail but no they all get massive bonuses.
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Obama returns to change message
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I moan about Obama as much as the next person but the libya war comes down to what happens in the future, and not so much the money they spent. The US military has a budget of about 700 Billion. That number stays roughly the same in or out of war, in fact next year the war budget will only drop about 2% even though the iraq war is ending. A billion here or a billion there is nothing, the bigger issue is did they do the right thing strategically and morally?
What i will say is this: Obama seriously needs to lower the military budget. If they want to waste a few 100 Billion dollars surely they can find better stuff to spend it on. Hell, everyone in mexico gets an iPad would make more sense. The american military seems to be excessively wasteful, i suspect quite a few companies are making a killing supplying 10 000 dollar ray-bans or something.
Guantanamo
Expert Member
Sounds like a lot. Speaking in relative terms though it is peanuts. I think someone mentioned but it was less than a % of the overall military budget
Allowing banks to fail is really not a logical option. If anything it could have pushed the world into a deeper recession. The banks failing is due to a lack of regulatory checks. Not the first time it has happened, last time if I remember correctly it was 1929 or so. Laissez-faire, like so many other concepts, sounds great on paper but in practice simply does not work.
They are the biggest funders of pretty much everything. For a while they were the biggest funder of Al Qaeda. They are the biggest funder to the IMF and World Bank who have been bailing out everyone else.
Nicodeamus
Honorary Master
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At first it would have been a recession, however the argument goes deeper than that, I acknowledge that banks play an important role in the economy which is what the problem comes down too. The federal reserve, those bankers knew they were going to get bailed out, thus they over-evaluated credit ratings and tampered with interest rates. Had there been no fed then they would have been force to regulate themselves better. The fed problem came from 1914. However all Obama did was postponing the inevitable, which is why the recession is prolonged, the market simply doesn't work top down. Stimulus causes more harm than it does good.
There is your problem!
The just keep on printing money and throw it all over the world, this is going to lead to hiper inflation at some stage if they do not address the monitory policy, before they can do that they have to get rid of all these oversea entangling pointless nation bulding expeditions and rather defend their own borders.
Besides scupper the recovery and further depress and divide the country? Well he's been great for the GOP they're back in control of congress and heading back to the White House.
The only area Obama has managed some progress is foreign policy, when he's not insulting Brits with Wallmart DVDs or claiming Austrians speak Austrian. Which would be okay if not for the fact he merely continued most of Bush's policies which he based his presidential campaign on vigorously denouncing.