Countdown to debt default
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Joseph27
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Countdown to debt default
So what's going happen on August 2? It seems the republicans are unrelenting in raising the debt ceiling but from a number of noted financial experts, if August 2 passes and the debt ceiling isn't lifted the US could lose its AAA rating. That seems like a game of brinkmanship that plays into the hands of the teabaggers and other fuckheads who neither understand economics or realize the ramifications of the US defaulting. It would be nice if Obama had a set of balls but seriously he seems as indecisive as Carter though without Carter's upstanding recording on following what he believed in... interesting times...
"truth is a group of metaphors, metonyms, and anthropomorphisms; a sum of human relation which is poetically and rhetorically intensified, metamorphosed and adored so that after a long time it is then codified in the binding canon."
Re: Countdown to debt default
"...who neither understand economics or realize the ramifications of the US defaulting."
Surely you, who obviously have a firm understanding of economics, realize that raising the debt ceiling again and again again also has "ramifications?"
The annual interest on our debt is already at US$200,000,000,000 per year (with zero repayment of the principle). I'm a fiscal conservative and probably don't much about economics, but I think if we borrow more it will increase, right?
Obviously, we have to raise it again now. But, we need to do it only with rock solid boilerplate that this is the last time.
Surely you, who obviously have a firm understanding of economics, realize that raising the debt ceiling again and again again also has "ramifications?"
The annual interest on our debt is already at US$200,000,000,000 per year (with zero repayment of the principle). I'm a fiscal conservative and probably don't much about economics, but I think if we borrow more it will increase, right?
Obviously, we have to raise it again now. But, we need to do it only with rock solid boilerplate that this is the last time.
"No man is above the law and no man is below it: nor do we ask any man's permission when we ask him to obey it."
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Joseph27
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Re: Countdown to debt default
Well it seems that they got past the major hurdles and increased the balance on the credit card 
Now the world can continue on its merry way - well at least until the next issue arises. It would be nice if Obama had a set of balls but seriously he seems as indecisive as Carter though without Carter's upstanding record on following what he believed in... interesting times... Maybe Obama should be dumped for 2012 - he doesnt deserve to contest it but he will
Now the world can continue on its merry way - well at least until the next issue arises. It would be nice if Obama had a set of balls but seriously he seems as indecisive as Carter though without Carter's upstanding record on following what he believed in... interesting times... Maybe Obama should be dumped for 2012 - he doesnt deserve to contest it but he will
Last edited by Joseph27 on 1st Aug, '11, 10:00, edited 1 time in total.
"truth is a group of metaphors, metonyms, and anthropomorphisms; a sum of human relation which is poetically and rhetorically intensified, metamorphosed and adored so that after a long time it is then codified in the binding canon."
Re: Countdown to debt default
The funny part to me is they keep talking about this deal, that deal, this plan, etc - but what are the key points of each plan? Details are maddeningly few. I hope whatever they agree on has some serious mechanism to make this the last time we increase the debt ceiling. Of course, it's already been increased about 50 times or so...we'll probably be here again in a year and a half.
"No man is above the law and no man is below it: nor do we ask any man's permission when we ask him to obey it."
-Theodore Roosevelt
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Re: Countdown to debt default
Looks like that 'serious mechanism' is a "Super-committee" to ensure spending cuts, T2K 
Seriously, yet another committee to sit around and spew nonsense, FFS. It's all just same-same, if you ask me ![[smilie=23_3.gif]](./images/smilies/23_3.gif "23_3")
Seriously, yet another committee to sit around and spew nonsense, FFS. It's all just same-same, if you ask me -
Fat Bob
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Re: Countdown to debt default
India 107-7. They are 370 runs behind and England need 3 wickets to win and go 2 up in the series.
YAY!!!
Debt ceiling mumbo jumbo? Bah humbug!
YAY!!!
Debt ceiling mumbo jumbo? Bah humbug!
"Remember that you are an Englishman, and have consequently won first prize in the lottery of life" ...Cecil Rhodes.
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Morrolan
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Re: Countdown to debt default
that is why this is the 'Serious Discussion Forum', Bobbity...Fat Bob wrote:India 107-7. They are 370 runs behind and England need 3 wickets to win and go 2 up in the series.
YAY!!!
Debt ceiling mumbo jumbo? Bah humbug!
Re: Countdown to debt default
Oh yeah, we're in for this whole debt ceiling drama thing again for sure when this latest debt top up runs out...!slinky wrote:Looks like that 'serious mechanism' is a "Super-committee" to ensure spending cuts, T2K
"No man is above the law and no man is below it: nor do we ask any man's permission when we ask him to obey it."
-Theodore Roosevelt
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Re: Countdown to debt default
Donald Trump as the next US president…he would be my vote, if I was allowed to vote…
Children aren't colouring books. You don't get to fill them with your favorite colours.
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Morrolan
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Re: Countdown to debt default
of course, who better to lead a bankrupt economy than someone who's bankrupted several companies...Possum wrote:Donald Trump as the next US president…he would be my vote, if I was allowed to vote…
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Joseph27
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Re: Countdown to debt default
Morrolan wrote:of course, who better to lead a bankrupt economy than someone who's bankrupted several companies...Possum wrote:Donald Trump as the next US president…he would be my vote, if I was allowed to vote…
![[smilie=groovy.gif]](./images/smilies/groovy.gif "groovy"){kind=small}
He is on record for wanting the US to default, and of course take Iraq's oil, fuck up the chinese, Donald Trump was never serious about politics; he was however keen to get his ratings up on celebrity apprentice..."truth is a group of metaphors, metonyms, and anthropomorphisms; a sum of human relation which is poetically and rhetorically intensified, metamorphosed and adored so that after a long time it is then codified in the binding canon."
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Snaffled
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Re: Countdown to debt default
The roasting he got at the White House Correspondents dinner was pretty funny. The Donald was not a happy man.
If there was a God, then why is my arse the perfect height for kicking?
Re: Countdown to debt default
yeah, what I saw of that was pretty funny.
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Joseph27
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Re: Countdown to debt default
He was totally unimpressed and that just made it funnier...
"truth is a group of metaphors, metonyms, and anthropomorphisms; a sum of human relation which is poetically and rhetorically intensified, metamorphosed and adored so that after a long time it is then codified in the binding canon."