If The Us Defaults On Its Debt Next Month...

[flying]

like trust me i am a politician and i promise to make some cuts

It is their classic Mantra

"I will Gladly Pay You Tuesday For A Hamburger Today"

Yet Come Tuesday they will again be hungry & have no money

As I said before they should place their new mantra on their fiat

replacing in God We Trust

[snarky66]

Tea party and Republican freshmen are not true to their principles or putting them before their party, they are bunch of Hypocrites, They picked the time when the current president was in office. They could have "stood up and be counted" at anytime in 6 of the 8 years of Dubya Bush was in office control of Congress and the deficit spiraling but hey no . Fighting wars the country cant pay for , extending Tax breaks thats were due to expire , neither of these are in their so called " Principles" for helping the countrys debt. The only thing they want to attack is Health care and Entitlements much of which tax payers have paid into,

I invite you to research what Americas current account deficit was on 20 Jan 2009 when Pres Bush left office versus what it is now. Barry has been spending money & running up deficits beyond anyone wildest dreams.

This is what we have to stop. The wildly irresponsible spending by the ex Senator from Illinois.

As to why we went into Iraq & Afghanistan I will ask you to explain to me why Barry thought a military adventure (war) in Libya was a good idea.

[KKvampire]

Tea party and Republican freshmen are not true to their principles or putting them before their party, they are bunch of Hypocrites, They picked the time when the current president was in office. They could have "stood up and be counted" at anytime in 6 of the 8 years of Dubya Bush was in office control of Congress and the deficit spiraling but hey no . Fighting wars the country cant pay for , extending Tax breaks thats were due to expire , neither of these are in their so called " Principles" for helping the countrys debt. The only thing they want to attack is Health care and Entitlements much of which tax payers have paid into,

I invite you to research what Americas current account deficit was on 20 Jan 2009 when Pres Bush left office versus what it is now. Barry has been spending money & running up deficits beyond anyone wildest dreams.

This is what we have to stop. The wildly irresponsible spending by the ex Senator from Illinois.

As to why we went into Iraq & Afghanistan I will ask you to explain to me why Barry thought a military adventure (war) in Libya was a good idea.

Dubya left in January 2009 when the economy was in Total crisis after the Financial collapse which HIS policies were the major factors, I know the figures of debt and know how the Texan Governor Dimwit piled it up , How you can compare the Libyan air strikes to the Thousands of Billions in Iraq and Afghanistan says everything about your weak case,Senator Obama opposed and voted against the Iraq war , while the republicans fell in behind their commander in Chief on wars as they did on his economic failures,

Of course the most revealing fact is how the Tea paty Hijacked Party are opposed to any revenue increases on those corporations and wealthy who have huge tax breaks but never create any US Jobs,, The trickle down economics of the 1930's that caused a depression until Government spending saved the economy. This present Congress have been a total disaster with no plan to create jobs and an ideology thats about totally dismantling government ,, Oh apart from protecting the Defense(WAR)Department of which they are disciples

Edited August 3, 2011 by KKvampire

[NovaBlue05]

Tea party and Republican freshmen are not true to their principles or putting them before their party, they are bunch of Hypocrites, They picked the time when the current president was in office. They could have "stood up and be counted" at anytime in 6 of the 8 years of Dubya Bush was in office control of Congress and the deficit spiraling but hey no . Fighting wars the country cant pay for , extending Tax breaks thats were due to expire , neither of these are in their so called " Principles" for helping the countrys debt. The only thing they want to attack is Health care and Entitlements much of which tax payers have paid into,

I invite you to research what Americas current account deficit was on 20 Jan 2009 when Pres Bush left office versus what it is now. Barry has been spending money & running up deficits beyond anyone wildest dreams.

This is what we have to stop. The wildly irresponsible spending by the ex Senator from Illinois.

As to why we went into Iraq & Afghanistan I will ask you to explain to me why Barry thought a military adventure (war) in Libya was a good idea.

Dubya left in January 2009 when the economy was in Total crisis after the Financial collapse which HIS policies were the major factors, I know the figures of debt and know how the Texan Governor Dimwit piled it up , How you can compare the Libyan air strikes to the Thousands of Billions in Iraq and Afghanistan says everything about your weak case,Senator Obama opposed and voted against the Iraq war , while the republicans fell in behind their commander in Chief on wars as they did on his economic failures,

Of course the most revealing fact is how the Tea paty Hijacked Party are opposed to any revenue increases on those corporations and wealthy who have huge tax breaks but never create any US Jobs,, The trickle down economics of the 1930's that caused a depression until Government spending saved the economy. This present Congress have been a total disaster with no plan to create jobs and an ideology thats about totally dismantling government ,, Oh apart from protecting the Defense(WAR)Department of which they are disciples

National Debt (from Treasury Direct.gov)

January 2001....Bush took office...............................................................................$5.7T

January 2007....Democrats took control of both houses and control of spending...$8.7T

January 2009....Obama too office.............................................................................$10.6T

Cuirrent......................................................................................................................$14.3T

Obama wasn't in the US Congress when the Iraq War vote took place. Enough Democrats, including our current Secretary of State, who were there voted to allow Bush to set out on his big adventure. I have observed that Obama, since becoming President, has pretty much embraced all of Dubya's initiatives including the escalation of involvement in the Iraqistan theatre, maintenance of the Bush Tax cuts (now the Obama tax cuts), Gitmo, the Patriot Act. The humanitarian bombing of Libya is a bonus I guess. He must be doing something right cuz he won the Nobel Peace prize....right?

[cloudhopper]

Ooopsie! Looks like only around 2 months before the US bumps up against the debt ceiling again. And around about then the US will be hitting 100% debt/GDP. Excluding "off balance sheet" stuff like Fannie Mae naturally.

http://market-ticker.org/akcs-www?post=191361

[midas]

Ooopsie! Looks like only around 2 months before the US bumps up against the debt ceiling again. And around about then the US will be hitting 100% debt/GDP. Excluding "off balance sheet" stuff like Fannie Mae naturally.

http://market-ticker.org/akcs-www?post=191361

this is spooky ........what happens after this ?

[Naam]

Ooopsie! Looks like only around 2 months before the US bumps up against the debt ceiling again. And around about then the US will be hitting 100% debt/GDP. Excluding "off balance sheet" stuff like Fannie Mae naturally.

http://market-ticker.org/akcs-www?post=191361

yawwnnnn...

[Naam]

Ooopsie! Looks like only around 2 months before the US bumps up against the debt ceiling again. And around about then the US will be hitting 100% debt/GDP. Excluding "off balance sheet" stuff like Fannie Mae naturally.

http://market-ticker.org/akcs-www?post=191361

this is spooky ........what happens after this ?

hopefully most markets are extremely and need a kick in the groin

[midas]

Ooopsie! Looks like only around 2 months before the US bumps up against the debt ceiling again. And around about then the US will be hitting 100% debt/GDP. Excluding "off balance sheet" stuff like Fannie Mae naturally.

http://market-ticker.org/akcs-www?post=191361

this is spooky ........what happens after this ?

hopefully most markets are extremely and need a kick in the groin

but surely even in the long term unlike the song by George Jackson and Johnny Henderson

The Only Way is DOWN ?

[Naam]

Ooopsie! Looks like only around 2 months before the US bumps up against the debt ceiling again. And around about then the US will be hitting 100% debt/GDP. Excluding "off balance sheet" stuff like Fannie Mae naturally.

http://market-ticker.org/akcs-www?post=191361

this is spooky ........what happens after this ?

hopefully most markets are extremely and need a kick in the groin

but surely even in the long term unlike the song by George Jackson and Johnny Henderson The Only Way is DOWN ?

the profits skimmed off the markets one tries to preserve. markets have always been up and down and up again and that since stone age or perhaps since Adam and Eve. a never ending story that will go on till we are gone. then the markets will provide interesting times for those still alive.

[BuckarooBanzai]

http://www.nytimes.com/2011/07/24/opinion/sunday/24sun4.html?_r=1&ref=todayspaper

[midas]

this is spooky ........what happens after this ?

hopefully most markets are extremely and need a kick in the groin

but surely even in the long term unlike the song by George Jackson and Johnny Henderson The Only Way is DOWN ?

the profits skimmed off the markets one tries to preserve. markets have always been up and down and up again and that since stone age or perhaps since Adam and Eve. a never ending story that will go on till we are gone. then the markets will provide interesting times for those still alive.

yes maybe.............Up and down , up and down.................... but within a decidedly downward trend

Edited August 4, 2011 by midas

[snarky66]

Dubya left in January 2009 when the economy was in Total crisis after the Financial collapse which HIS policies were the major factors, I know the figures of debt and know how the Texan Governor Dimwit piled it up , How you can compare the Libyan air strikes to the Thousands of Billions in Iraq and Afghanistan says everything about your weak case,Senator Obama opposed and voted against the Iraq war , while the republicans fell in behind their commander in Chief on wars as they did on his economic failures,

Of course the most revealing fact is how the Tea paty Hijacked Party are opposed to any revenue increases on those corporations and wealthy who have huge tax breaks but never create any US Jobs,, The trickle down economics of the 1930's that caused a depression until Government spending saved the economy. This present Congress have been a total disaster with no plan to create jobs and an ideology thats about totally dismantling government ,, Oh apart from protecting the Defense(WAR)Department of which they are disciples

Real Americans know that N Pelosi was in charge of spending from 2006. Next question?

[hhgz]

"Looks like only around 2 months before the US bumps up against the debt ceiling again."

That's not true. Some people enjoy complaining, and you're having a blast.

[cloudhopper]

Please don't confuse my sophomoric tendency to hysterically overstate the case with complaining. But you're right I am indeed having a blast, truth be known.

Say when will they hit it then?

[Naam]

yes maybe.............Up and down , up and down.................... but within a decidedly downward trend

what you call markets Midas, i call shit². i try my best to invest in markets, respectively assets which are going up, leave them when they are going down and wait for alternatives. the alternatives are virtually infinite even when moving in a special segment only. all what it takes is doing a lot of homework and of course patience.

[cloudhopper]

Great review

http://www.alt-market.com/articles/208-the-debt-deal-con-is-it-fooling-anyone

[Naam]

Great review

http://www.alt-market.com/articles/208-the-debt-deal-con-is-it-fooling-anyone

yes!

[nikster]

Great review

http://www.alt-market.com/articles/208-the-debt-deal-con-is-it-fooling-anyone

yes!

I am having a Deja Vu... the internet stock market of 2000, and the housing crisis in 2007 (?). On both occasions, people were decrying the bubble for years, but then nothing happened. For a while. Until those bubbles burst with a big bang; but getting there took a lot longer than anyone expected, to the point where "Wired" magazine put a story about "the long growth" on the front page. To the point where people got really comfortable with the idea that a 2 bedroom apartment was worth $1M.

The Dollar has been written off for ages now, the Fed keeps printing more of it, US doesn't produce anything (relatively speaking) - yet the USD isn't going down very much.

Keeping that in mind, I am predicting a sudden crash. Unfortunately, it's hard to tell when that's going to happen. With the next QE? The one after that? A year? Five years? I know I'll jump ship when the consensus opinion drifts towards "the Dollar is doing just fine, after all". Watch out for that.

The Tea Party is a worse disease than what it's trying to cure - corrupt populist dimwits, they'll implode as soon as they're in power. Of course by then they might have caused a lot of damage. Normal Republicans and Democrats are nearly indistinguishable, right wing, idea-less, and in the pockets of corporations - not too different from politics in Thailand, really. Turns our Ralf Nader was right when he said the choice between Republicans and Democrats is the choice between Humpty and Dumpty.

I thought Palin was nuts until Bachmann came along and made Palin seem like a perfectly reasonable person.

Edited August 5, 2011 by nikster

[snarky66]

So if "tea party" = "Stop out of control spending" then yep I am proud to be a member.

However lately lib loons are labeling us "terrorists" "hostage takers" "Hijackers" Are you planning to report us to Homeland Security?

I submit to you that lib loons & phony Republicans like this Coburn idiot, McCain & a bunch more are "hijacking" our kids future.

Just like Greece there is only one way out for USA. Default.

Edited August 5, 2011 by snarky66

[JimGant]

phony Republicans like this Coburn

Huh?

Sen. Tom Coburn, R-Okla., released a deficit reduction plan that would save $9 trillion during the next 10 years. His plan easily qualifies as the most ambitious of all deficit-reduction plans being discussed.

For a less, gloom, doom, and spring-loaded look at the deficit, Charles K had a balanced op-ed in today's Post:

http://www.washingtonpost.com/opinions/how-the-super-committee-can-strike-a-grand-bargain/2011/08/04/gIQA9tJ7uI_story.html

[midas]

phony Republicans like this Coburn

Huh?

Sen. Tom Coburn, R-Okla., released a deficit reduction plan that would save $9 trillion during the next 10 years. His plan easily qualifies as the most ambitious of all deficit-reduction plans being discussed.

For a less, gloom, doom, and spring-loaded look at the deficit, Charles K had a balanced op-ed in today's Post:

http://www.washingtonpost.com/opinions/how-the-super-committee-can-strike-a-grand-bargain/2011/08/04/gIQA9tJ7uI_story.html

why do you say ' Huh? '??? snarky's assessment is correct.

The common denominator of politicians like McCain and Coburn is that they are progressives

[cloudhopper]

Fannie Mae is asking for (and no doubt getting) another 5 bil bringing their total debt to over 100 bil.

But it's all good because this, like so many other little items like funding illegal wars, is "off balance sheet" and has no effect whatsoever on the public debt. Really.

http://www.zerohedge.com/news/fannie-demands-another-51-billion-aid-treasury-q2-1038-billion-total-conservatorship

[bdenner]

Been sitting here looking at the rhetoric provided by the Yanks over the last few weeks and now see the conclusion. Whether Democrat, Republican, Socialist, Left Wing, Right Wing or just do not give a shlt road sweeper you <deleted>#kers have done your best to try to stuff the world economy again and pushed the global stock market into another crash!!

AND WHAT GIVES ME THE SHITS MORE THAN ANYTHING IS THE CNN TELECAST OF THE CLOSING BELL AT THE NY STOCK EXCHANGE WHERE THEY HAVE JUST DROPPED 5% WITH THE PEOPLE APPLAUDING <deleted> IS THAT ALL ABOUT????

How long do you idiots think China, Australia, Canada and the other strong economies are going to put up with this?

Get use to it, your almighty USD is down the gurgler and soon will be placed into the septic tank (excuse the pun) where it belongs!

Edited August 5, 2011 by bdenner

[cloudhopper]

How long do you idiots think China, Australia, Canada and the other strong economies are going to put up with this?

Strong economies?

You just named the 3 with the worst RE bubbles on the planet. The answer to your question from this idiot is - they are going to pop and deflate big time.

[bdenner]

You wish! Credit rating just devalued to AA+, announced on a Friday afternoon to lessen the blow, no doubt. Going to love to see the arousing applause at the NY stock exchange on Monday evenings closing bell.

Edited August 6, 2011 by bdenner

[BEENTHEREDONETHAT]

You wish! Credit rating just devalued to AA+, announced on a Friday afternoon to lessen the blow, no doubt. Going to love to see the arousing applause at the NY stock exchange on Monday evenings closing bell.

They are applauding because they are happy the market closed.

[cloudhopper]

Yet another default sighting -

http://news.yahoo.com/us-postal-warns-could-default-222059604.html

[Naam]

You wish! Credit rating just devalued to AA+, announced on a Friday afternoon to lessen the blow, no doubt. Going to love to see the arousing applause at the NY stock exchange on Monday evenings closing bell.

i didn't think S&P will dare

[midas]

Yet another default sighting -

http://news.yahoo.com/us-postal-warns-could-default-222059604.html

do you think they will also default on the Postmaster General's salary of $800,000

Edited August 6, 2011 by midas