Maybe another credit downgrade is necessary and justified.
Last time that happened yields went down in summer 2011.
And the S&P 500 was down 16%.
ND would be hampered by being land-locked. TX, CA, and AK could easily do it though.
AK would become a Russian colony if it was independent.
Hampered, but everything works itself out when you have plenty of oil to export.
^True. Lesotho is an enclave of South Africa, and it seems to get along just fine.
(“Just fine” is a relative term in this instance.)
And it proved to be an excellent buying opportunity. S&P is up 50% since the Aug. 2011 low. Perhaps we see something similar this year.
Ted Cruz and his Tea Party colleagues are sleazebags who have chosen their own electability over the national economic health. These politicians know that the right wing voters in their own constituencies will applaud their efforts to block Obamacare, and they believe that hundreds of billions of dollars of lost productivity is an appropriate price for them to personally secure a few more percentage points in the next election.
The best part is he’s not only screwing over the country he’s screwing over the moderate wing of his party which will probably lose some seats over this (maybe the majority). That’s why districts should be redistricted randomly around large geographic area, this way our politicians will not only work for their direct constituents, but for the country as a whole.
Perfect example: Allen West
You miss the point. If I (personally) cost the economy a hundred billion dollars, but gain a million to myself, then I’m a million dollars richer.
I look out for #1. I’m sure Ted Cruz is no different. He’s trying to get votes, and he represents a very red state. Trust me–where we live, there are a lot of “get rid of the Mexicans, especially the ones who don’t speak English” and “praise the Lord and pass the ammunition” and similar type stuff.
FTR–I didn’t vote for Ted Cruz. And I actually did vote this year, only because there was a local school bond election that I wanted to voice my opinion for.
TX, CA, and AK could go it alone…ha ha that’s a funny one. Perhaps California could, on its own if would be a top ten sized economy, but New York and New England and the midwest would have to sell off the other two and that might be well advised in fact LOL. Please!
“One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” - Plato
Vote
If this is true, add WV and Ohio to the list.
And the entire state of MIchigan (just the hand, not the UP) is one huge oilfield. The problem is that it has extremely strict environmental laws, and the leftist politicians are not friendly to the oil business. So it goes largely unexplored. It’s almost impossible to do business in Michigan. (energy business, that is)
I think that’s a commercial for entering politics rather than voting. Even if I did vote, I would still be governed by Ted Cruz. And you are also governed by Ted Cruz, whether you like it or not.
(Whether he’s superior to me and BWYF is a different question altogether. I admit that he’s probably superior to me. But that’s not saying much.)
From a current pure taxation and spending perspective, Texas and California would be better off without the burden of the other states. Texas and California subsidize federal spending in other states, as each of these two contribute more money in federal taxes than they receive in federal spending. Keep in mind that an economy does not have to be big in absolute size to provide a high standard of living to its residents. Consider Luxembourg, Monaco, or Singapore; unlike Texas or California, each of these nations is tiny in absolute size. However, they all have very high per capita income.
Alaska, on the other hand, is the worst net contributor of all states other than Washington DC. On average, each resident in Alaska receives about $7,500 in net benefits through federal spending. The per capita income in Alaska is roughly $23,000. Therefore, federal government benefits amount to roughly a third of per capita income in Alaska.
NY, CT, NJ constitute three of the five top net contributors to the federal government. This is expected, given the high incomes in these states. It is conceivable that these states could split off from the US to form an economy based on financial services or other urban fields. They could achieve a higher standard of living than the remaining US states, similar to how Hong Kong is better than the rest of China.
http://en.wikipedia.org/wiki/Federal_taxation_and_spending_by_state
Of course, all this assumes that there are no losses in free trade, or inefficiencies due to states adopting services previously performed by the federal government.
^ as CvM might say, “respect!”
Take that Red Sox!
Take that Patriot Fans!
^We should just take that whole area from Philly to Hartford and split it off as its own separate country. Then Texas and California can create a whole military and provide mercenary services for it. (When I was in boot camp, a DI said that almost a third of the entire US Marine Corps comes from either Texas or California.)