SO FAR.. every attempt to make continuing the processes underway POSSIBLE for WHATEVER reasons justifiable or not, has only delayed and magnified the eventual judgment.
Banks attempting to minimize their risk by spreading it to every consumer, and their OFFICERS have FLOURISHED as everyone bore the brunt of the penalty and judgment.
Govts promising all sorts of largesse (for votes) around the world have run into the laws of physics.
If the debt increase is to be justified a REALISTIC, IRON HARD, INFLEXIBLE PLAN must be in place to eliminate the US national DEBT (NOT JUST REDUCE A YEARLY DEFICIT) within a generation.
If this cannot be achieved and this process continues, IS THIS THE AMERICA WE PLEDGED ALLEGIANCE TO?
Is there any reason no to be somewhere else and wait to be bailed out because the govt is afraid we will revolt?
Vancouver is a pretty nice place to be on cruise control when US social security dies amid rioting back here.
Costa Rica makes the dollar stretch ... maybe we can get a quart of milk for $10 when we retire, there. At least we can watch it all die from the beach.
WHO
IS
JOHN
GALT?
Monday, April 25, 2011 1:49:00 pm
FromAOL News:The government now borrows about 42 cents of every dollar it spends. Imagine that one day soon, the borrowing slams up against the current debt limit ceiling of $14.3 trillion and Congress fails to raise it. The damage would ripple across the entire economy, eventually affecting nearly every American, and rocking global markets in the process....
[...]
Among the first directly affected would likely be money-market funds holding government securities, banks that buy bonds directly from the Federal Reserve and resell them to consumers, including pension and mutual funds; and the foreign investor community, which holds nearly half of all Treasury securities.
[...]
At some point, the government would have to slash spending in other areas to make room for any further sales of Treasury bills and bonds. That could squeeze payments to federal contractors, and eventually even affect Social Security and other government benefit payments, as well as federal workers' paychecks.
A default would likely trigger another financial panic like the one in 2008 and plunge an economy still reeling from high joblessness and a battered housing market back into recession. Federal Reserve Chairman Ben Bernanke calls failure to raise the debt limit "a recovery-ending event." U.S. stock markets would likely tank - devastating roughly half of U.S. households that own stocks, either individually or through 401(k) type retirement programs.
Eventually, the cost of most credit would rise - from business and consumer loans to home mortgages, auto financing and credit cards.
Continued stalemate could also further depress the value of the dollar and challenge the greenback's status as the world's prime "reserve currency."...Such a default would make the Great Depression look like a minuscule blip on the radar screen of economic history.
Frankly, I see no way to prepare as individuals for such a default on the part of the United States.
Our individual fates are in the hands of politicians in Washington, D.C. Isn't that comforting? **snerk**
4 Comments
Close this window Jump to comment formWhat really tees me off is Little Timmy Geithner coming out and warning the GOP to not play dangerous games with the debt ceiling.
He and his wall street bandits who've infested our government since the 1930's are the ones who've wrecked everything with dangerous games.
The drunken orgy has gone on for too long. Blame the drunken incontinent spenders, not the responsible adults who want to take the bottle away.
Sunday, April 24, 2011 1:30:00 pm
Happy Easter, sChoir!
And now for your today's entertainment - allegorical eggcellence and BOOBIES!
-... ODO: "Our quarters!"
-... Dax: "Genetically engineered" (ok granted, one teeny flaw, she should have said "ideologically"
-Jakes eyes as he's walking with his Dabo girl, fracking priceless!
- And the Jem'Hadar - like two weeks(?) old, and already shape shifting!
***What oh what aren't they teaching YOUR kids in school!***
DS9 - The Abandoned
http://www.youtube.com/watch?v=r1nSv5xHjLc
http://www.youtube.com/watch?v=dbQ3nrFqXik
http://www.youtube.com/watch?v=Coi93GRA1oA
http://www.youtube.com/watch?v=Q702ghtoez4
http://www.youtube.com/watch?v=ifxx4uiBR6A
Sunday, April 24, 2011 1:49:00 pm
Divest your IRA's and 401K's...take the tax and penalty hit...
BUY GOLD!
and ammunition......
MUSLIMANIA
Sunday, April 24, 2011 3:13:00 pm
SO FAR.. every attempt to make continuing the processes underway POSSIBLE for WHATEVER reasons justifiable or not, has only delayed and magnified the eventual judgment.
Banks attempting to minimize their risk by spreading it to every consumer, and their OFFICERS have FLOURISHED as everyone bore the brunt of the penalty and judgment.
Govts promising all sorts of largesse (for votes) around the world have run into the laws of physics.
If the debt increase is to be justified a REALISTIC, IRON HARD, INFLEXIBLE PLAN must be in place to eliminate the US national DEBT (NOT JUST REDUCE A YEARLY DEFICIT) within a generation.
If this cannot be achieved and this process continues, IS THIS THE AMERICA WE PLEDGED ALLEGIANCE TO?
Is there any reason no to be somewhere else and wait to be bailed out because the govt is afraid we will revolt?
Vancouver is a pretty nice place to be on cruise control when US social security dies amid rioting back here.
Costa Rica makes the dollar stretch ... maybe we can get a quart of milk for $10 when we retire, there. At least we can watch it all die from the beach.
WHO
IS
JOHN
GALT?
Monday, April 25, 2011 1:49:00 pm