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So any predictions on what will happen in August when the U.S. shell game of debt payments runs its course?
Default or print money?
Which is worse and why?
Default or print money?
Which is worse and why?
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Dyslexics are teople poo... -
Tea Partiers will make sure that the debt ceiling stays low enough for children to starve, but not so low that international bankers won't get government money while betting against their own customers.We all trust our own unorthodoxies. -
This is an excellent example of hyperbole. Well done.Originally posted by Sleeping in EQ View Post"Socialism is a philosophy of failure, the creed of ignorance and the gospel of envy; its inherent virtue is the equal sharing of misery." - Winston Churchill
"I only know what I hear on the news." - Dear LeaderComment
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You do realize that Bob Bennett's political career was lost at the hand so the Tea Partiers due in no small part to his voting for TARP? You're hilariously uninformed.Originally posted by Sleeping in EQ View PostPart of it is based on academic grounds. Among major conferences, the Pac-10 is the best academically, largely because of Stanford, Cal and UCLA. “Colorado is on a par with Oregon,” he said. “Utah isn’t even in the picture.”Comment
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You guys can't tell when your chain is being yanked.We all trust our own unorthodoxies.Comment
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Raise the debt ceiling.
Defaulting would be catastrophic for he economy. It would dry up lending in the same way that the Wall Street fiasco did by creating a panic amongst bond holders. It would end up in massive job losses for government workers and dramatic and immediate cuts in numerous public services. It would also result in numerous job losses to the states and massive cuts in there budgets since they would lose funds from the feds.
I don't like big budget deficits, I think everyone is going to have to give, but it took 40 years to get to this point and an immediate and abrupt end really would be cutting off your nose to spite your face.Comment
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I wonder what acceleration clauses might be imbedded in our debt. I mean, if we default on bonds due in August does that mean all debt becomes payable right then/there? Most banks/bonds have similar provisions to protect other debt holders.Originally posted by Flystripper View Post
My opinion is that we won't default. Neither political party wants to screw over the largest holder of US debt."Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. UchtdorfComment
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They'll raise it just like they have the previous 10 times in 10 years.
Both sides will bluster and bloviate, right up to the deadline.
Just like always.
At which point Obama will step in and broker a deal which satisfies neither side.
Just like always.The Holy War is over, and Utah won - Federal Ute
Think of how stupid the average American is. Then remember that half are even dumber than that. - George CarlinComment
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As in the wealthiest Americans? Here is how I know that Republicans WILL raise the debt ceiling -- their whole purpose for being is to help the wealthiest Americans get a leg up in life (arguing that a rising tide lifts all ships), and the wealthiest Americans are the group most steeply invested in American bonds. Crash the bond market and the GOP kicks its most important constituency in the balls. It won't happen. Guaranteed.Originally posted by Moliere View PostComment
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If there aren't some serious debt reduction stipulations, not stinking goals but real stipulations, then let's default now because we will end up defaulting later anyway.
In the mean time we will get weaker and weaker and weaker.
My hell, if what I am hearing is true, the last reconciliation they just did and claimed they saved 36 or so billion actually has ended up costing money not saving.
Most of these a-holes just want to continue in their positions of power and the American people for the most part want to buy the "happy days" are coming scenario and somehow magically it will all work out.
By the way, if they keep putting the day of reckoning off, so much the better for me. I get all my goodies and things I have been promised. It will be my kids and grandkids who will pay the piper.Comment
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Cool. I've always thought I would do well in a Mad Max world. Looks like I might get my chance.Originally posted by byu71 View PostComment
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I thought the largest debt holders were pension funds, which typically includes a lot of middle class America...including heavily unionized companies.Originally posted by RobinFinderson View Post"Discipleship is not a spectator sport. We cannot expect to experience the blessing of faith by standing inactive on the sidelines any more than we can experience the benefits of health by sitting on a sofa watching sporting events on television and giving advice to the athletes. And yet for some, “spectator discipleship” is a preferred if not primary way of worshipping." -Pres. UchtdorfComment
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RF, either you're trying to pull our chains without being funny like SIEQ, or you're swallowing what the Democrats tell you, hook, line, sinker.Originally posted by RobinFinderson View Post
Here are the top political contributions in 2008 to Barack Obama:
http://www.opensecrets.org/pres08/co...goButt2=Submit
Here are the top political contributions in 2008 to John McCain:
http://www.opensecrets.org/pres08/co...goButt2=Submit
The amount of contributions from Goldman Sachs, Morgan Stanley, Citicorp, JP Morgan Chase and UBS AG to Obama -- $6,898,634.
The same contributors to John McCain -- $1,246,198.
*Note, I would have included Bank of America and Merrill Lynch which show up on John McCain's list, but I don't have the information for Obama from the pages I linked to. As it turns out, the amount given to McCain by his top donor, Merrill Lynch, wouldn't have even made the bottom of Obama's list. Merrill Lynch and BofA very well might have given Obama more, but I don't know because Obama's minimum on his list is around $495k and the top contributor on McCain's list is $373k.Part of it is based on academic grounds. Among major conferences, the Pac-10 is the best academically, largely because of Stanford, Cal and UCLA. “Colorado is on a par with Oregon,” he said. “Utah isn’t even in the picture.”Comment
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A classic SU move. Post some ignorant BS, then when called on it, claim to be joking. Well done again.Originally posted by Sleeping in EQ View Post"Socialism is a philosophy of failure, the creed of ignorance and the gospel of envy; its inherent virtue is the equal sharing of misery." - Winston Churchill
"I only know what I hear on the news." - Dear LeaderComment
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No, I was just yanking your chain. When you are grim like this, it's pretty easy.Originally posted by il Padrino Ute View Post
Maybe you need to ease off on the echo-chamber propaganda stuff?We all trust our own unorthodoxies.Comment
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