International Nesties
dulcemariamar1
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Are you guys worried about the US debt crisis?
Are you worried about the US debt crisis? Are you doing anything in particular before August 2 in case there is a default?
Re: Are you guys worried about the US debt crisis?
I am not sure I understand all of it. I feel like it is one gigantic crisis in congress after another with some huge, world-ending deadline that comes and goes each time. As far as the debt thing, I am more worried about the stupid people who want to lower our debt but refuse to cut funding for programs or to raise taxes. I don't understand how ppl think that it will happen without being a bit stricter with spending and revenue (yea I know there is a ton of stupid spending going on too that could be cut).
Is this more sensationalized news or is it something we should be really concerned about? Anyone really familiar with economics on the national/international scale? I have to admit it is not my strong point
Somewhat, and no.
I'm not being snarky, but I'm not exactly sure what you mean when you ask what we are doing in case there's a default.
What exactly would one 'do'? Perhaps consolidate loans, if they aren't fixed rates? Take all your money out of the bank and convert it to another currency? Hide it under your pillow?
Also, here's a helpful article on how this will affect 'ordinary Americans': http://www.latimes.com/business/la-fi-0729-qa-debt-ceiling-20110729,0,7586022.story.
It might affect whether we return to the States or try to stay on here, as if the economy worsens in the States, it could be harder for us to transfer back.
Wedding stuff.
I'm not particularly worried about a default. The competing bills in the house and senate are essentially the same thing and everyone is just being stubborn twatwaffles. Reid and Boehner's bills are close enough that they can be combined into one in committee, so in the end I'm sure they'll pass something.
That being said, I'm still expecting the dollar to tank a bit, so the only thing we're doing is waiting a while before transferring some of our Swiss Francs into USD. We don't have any debt in the US. If we did I'd be consolidating and locking in interest rates.
Yes, I was wondering if people were thinking about converting some of their money to another currency.
I know I shouldnt compare the two, but I was living in Argentina during the debt crisis. It is kind of crazy how things can basically change overnight. I was just wondering if people were worried about the debt crisis in the States.
Most of my money is in pounds, not dollars, so we aren't considering converting the small amount we have into another currency. We might take advantage of a falling dollar to pay off some SL debt when it 'costs' us less.
Not really. I live in euros and only pay loans in dollars.
Like Snippy said it's yay lower dollar for us at the moment. But I don't understand economics so that may be why I'm not worried.
I'm worried because I do plan on moving back to the US soon (maybe even as soon as this coming January). Also, when the dollar tanks my wedding magically jumps in price as we still have to convert some dollars to pay vendors in Euro.
I think that even if/when a bill passes a lot of damage has already been done due to this game of chicken that the politicians are playing with our country's economy. If our credit rating slips it's going to cost the US economy and between that and the recent disappointing numbers (not sure on what, but bloomberg was going on about durables or the "recovery" slowing or something), we really can't handle another shock. I think that any chance we had at getting out of the slump we are in is going down the crapper because of this issue.
This whole thing makes me want to stay out of the US longer, but I'm not sure that is feasible. And I can't see myself staying in Turkmenistan waiting for it to blow over.
Yeah, but like PP said, people are just being jackasses, and they really shouldn't screw around with the economy like this. Just plain stupid. I hope all of these idiots get voted out.
Wedding stuff.
The question is, which idiots?
All of our money is in US Dollars. So as long as we get a COL adjustment, I'm not worried.
But really, I'm not worried about a default. Adding more debt and permitting Congress to continue to spend is worse.
I am frightened honestly. My family and friends back home are frightened, a lot of them rely on social security, etc to get by and there seems to be a chance that they won't be able to pay social security really, frighteningly soon.
It's such a disaster and I don't think either side has a plan to pull us out of this horrific mess. The fact that we have this 2-party system is a problem since all they're doing is jostling for position and getting us further and further in the hole. They keep arguing amongst themselves and trying to 'win' when there is no winning here.
(And I think it's totally surreal that the Republicans want to keep the insane tax cuts for the wealthy that were never sustainable or fair to begin with - I have no idea what the rationale is for rich people paying a lower percentage income tax than everyone else.)
BFP Apr 2012, EDD Dec 19 2012 * twin h/b at 6wk, 9wk scan * Baby A lost at 12wks, Baby B was my rainbow born at 36wks
*cough*republicans*cough* lol
No, I know it's both sides on this, but it generally appears that these are the ones causing most of the trouble.
Wedding stuff.
they pay a higher percentage
There is some interesting political theory around this point. For instance, folks in first-past-the-post systems tend to make 'losers' feel more disenfranchised than in systems of proportional representation (Dahl 2003).
It seems to me that recent events have augmented the relevance of Dahl's argument. In a sense, politics in the US has become a zero sum game, where if the Rs or Ds are winning, then the other side is losing--even if Rs or Ds agree that the other set's proposal makes sense, is good for the country in general, and actually aligns with their own party platform.
I find the zero sum game part very disturbing, because it means politics for politcs' sake, and that's not what I want my representatives doing. Zero sum games are also the thing that often makes ethnic conflict negotiations collapse, and while this isn't an issue here, the parallels still feel worrisome in implication.
This!!!
I am worried about my parents and their retirement.
Paul Krugman agrees: http://www.nytimes.com/2011/07/29/opinion/krugman-the-centrist-cop-out.html?src=ISMR_AP_LO_MST_FB.
It's a boy! -- EDD 11.17.11
Back in the USA...for now...
The theory behind this as well as the idea of the zero sum game are indeed incredibly interesting. Since moving to NL I have complained about the inefficiences of government due to the fact that they have several (around 10-12) active parties at any given time.
Until a few months ago I'd been incredibly naive to the drawbacks associated with a 2-party government/country. Since about January, when it first came to light that we'd possibly be needing to raise the debt-ceiling, I've been starting to think of this is an entirely different way.
Also, the tax reductions for the wealthy, which I believed is households earning more than $250,000 per year, were not meant to be sustained for, lack of better terms, FREAKING FOREVER. My irritated self wants to scream a little but my intrigued self wants to dig into all of the economic journals I have piled up since I've had baby C. Haha. I could write on and on but I have to get back to work.
We only have my "small" student loan in dollars and then a bit in a savings account (that is earning virtually zero interest) but otherwise our whole life is in euro's.
We're taking advantage of the exchange rate next month on our trip to the US but otherwise the main thing that concerns me is also our ability to move back in the future. My husband wants very badly to go back as soon as possible but I just do not see a possibility with some of the issues the US is facing right now.
Le sigh.....
I love that you just quoted Dahl. That is all.
So, one bill is dead. It looks like the next possible vote will be tomorrow starting at noon in the House and at one in the Senate. I'm still quite nervous.
Here's something I found interesting from the NY Times, quoted from Xinhua:
?The ugliest part of the saga is that the well-being of many other countries is also in the impact zone when the donkey and the elephant fight,? the state-run news agency, Xinhua ? considered the propaganda arm of the Communist Party ? said in an opinion piece Friday, referring to the standoff between Democrats and Republicans.
I was also surprised to see the same question I had asked FH earlier today:
?One could now ask why is the U.S. debt treated any better than a country like Portugal, which has about the same levels of deficit and debt,? said a senior European policymaker, who spoke on condition of anonymity.
Both from "Global Concern over U.S. Debt Ceiling Disagreement," New York Times.
I love Dahl--both the political theorist and the author of Matilda etc.