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

[mrmazinkle]

Strangely, I don't totally disagree with your assessment of his performance, and I also understand you have the right to say whatever you want about him, and the right to call him names, or make slurs about his origins, etc. However, it just puts you in the same category as the other wingnuts and assorted losers who act like kindergarteners, calling names, and saying, na,n,na,n,na,na.. Grow up, and maybe someone of substance will pay attention to you. I still think the holder of the office of the President of the USA deserves some respect. Ask yourself this: would you say those things directly to his face? You wouldn't to mine, and be able to walk away...

So many 'keyboard warriors', sh*t oh dear!

Your a contradiction..........You make posts telling me not to call folks names all the while calling names yourself like....nitwits,wingnuts,etc...

Then make a claim of being able to do something your not capable of & then immediately calling others keyboard warriors????

Puleeze ..It is only your fingers making promises your body cant fulfill

Grow up........If you have something about the topic to say then post it....Your not the hall monitor.

And Yes I do say in real life & on the computer what fits.....It would be the same if I were talking to Zobama, you or anyone's face if the shoe fits.

I totally agree but wouldn't say it to his face for the fear of his wrath.....

[midas]

1979 was an accident and I don't think the previous ones are really relevant????

I think it's more relevant to the creditor nations

[midas]

I would have thought these people need to have their minds as free from worries as possible

to be able to concentrate on their very stressful jobs not having to also wonder how they can

pay the mortgage and buy the groceries?

Congressional authorization for several FAA programs expired at 12:01 a.m. on July 23. As a result, nearly 4,000 FAA employees are now furloughed without pay. Those employees affected by the lapse in authorization have been notified by their managers and will receive a furlough notice via FAA email.

Employees paid from the FAAs Operations account, which is funded from both the Trust Fund and the general fund, are not affected by the lack of an extension to our legislative authority. While this lapse in FAA's authorization affects thousands of public and private sector jobs, it is important to note that the safety of the flying public will not be compromised.

Employees who have not been told that they would be furloughed if FAA's authorization was not extended are expected to report to work as scheduled. We are working diligently with Congress to resolve this unfortunate situation, and apologize for the hardship this situation may cause for our employees and our stakeholders.

http://www.faa.gov/news/updates/?newsId=64216

[craigt3365]

1979 was an accident and I don't think the previous ones are really relevant????

I think it's more relevant to the creditor nations

The Momentary Default of 1979

The Treasury of the United States accidentally defaulted on a small number of bills during the 1979 debt-limit crisis. Due to administrative confusion, $120 million in bills coming due on April 26, May 3, and May 10 were not paid according to the stated terms. The Treasury eventually paid the face value of the bills, but nevertheless a class-action lawsuit, Claire G. Barton v. United States, was filed in the Federal court of the Central District of California over whether the treasury should pay additional interest for the delay. The government decided to avoid any further publicity by giving the jilted investors what they wanted rather than ride the high horse of sovereign immunity. An economic study of the affair concluded that the net result was a tiny permanent increase in the interest rates of T-bills.

Wish I had been one of those creditors!!

[cloudhopper]

Economist Dr. Michael Hudson interviewed on US public radio

http://michael-hudson.com/wp-content/uploads/audio/Hudson_July2011_Bonnie.mp3

[cloudhopper]

Why Boner wants a deal today-

http://aljazeera.com/news/americas/2011/07/201172443755179887.html

[midas]

Why Boner wants a deal today-

http://aljazeera.com/news/americas/2011/07/201172443755179887.html

I like Al Jazeera but I'm very surprised they seem to have painted a different picture of the

negotiations yesterday. by making this statement it gives an entirely different impression to how far apart both parties are?

Al Jazeera

President Barack Obama and top US legislators held day-long crisis talks on Saturday but failed to find a breakthrough to avert a looming debt default just 10 days away.

New York Post

Boehner (R-Ohio) was one of four congressional leaders who attended a tense meeting at the White House with Obama yesterday. The meeting ended after 50 minutes -- the latest indication of deep divisions between lawmakers.

Read more: http://www.nypost.com/p/news/national/still_no_budge_in_budget_battle_YcqZpUcQfnDKjmwMHubFwN#ixzz1T193zhVi

I know the New York Post version is correct because I actually heard this on the news after the meeting broke up

[KKvampire]

Have no doubt the worlds economies are going to be making sure US economic influence and control over how it affects their own development has changed and will continue to .

Most of the employment in major manufacturing has gone from the USA never to return and its only the banking and financial influence that's of any relevance.

If the now Ideological Tea Party run Republican Party gets its way it will be a sort of haven for Million and Billionaires(money invested overseas) surrounded by the working class begging for food and dying for lack of health care.

A Congress that is taking the country to edge of a precipice

China Banging on the US door " We want our money back"

Edited July 25, 2011 by KKvampire

[cloudhopper]

This is the debt that is really going to pop the US bubble -

http://www.theburningplatform.com/?p=18895

[lannarebirth]

This is the debt that is really going to pop the US bubble -

http://www.theburnin...rm.com/?p=18895

Aldous Huxley on soma:

"All of the advantages of Christianity and alcohol; none of their defects."

[craigt3365]

Have no doubt the worlds economies are going to be making sure US economic influence and control over how it affects their own development has changed and will continue to .

Most of the employment in major manufacturing has gone from the USA never to return and its only the banking and financial influence that's of any relevance.

If the now Ideological Tea Party run Republican Party gets its way it will be a sort of haven for Million and Billionaires(money invested overseas) surrounded by the working class begging for food and dying for lack of health care.

A Congress that is taking the country to edge of a precipice

China Banging on the US door " We want our money back"

Most employment in major manufacturing has gone from pretty much every Western country....not just the US. Even Thailand is starting to lose some to Burma now. Cheaper wages there and less environmental controls.

[ronz28]

US still designs, develops and produces the best weapons systems in the world but I wonder how much longer we can pay for it.

[flying]

US still designs, develops and produces the best weapons systems in the world but I wonder how much longer we can pay for it.

:lol:

[KKvampire]

Have no doubt the worlds economies are going to be making sure US economic influence and control over how it affects their own development has changed and will continue to .

Most of the employment in major manufacturing has gone from the USA never to return and its only the banking and financial influence that's of any relevance.

If the now Ideological Tea Party run Republican Party gets its way it will be a sort of haven for Million and Billionaires(money invested overseas) surrounded by the working class begging for food and dying for lack of health care.

A Congress that is taking the country to edge of a precipice

China Banging on the US door " We want our money back"

Most employment in major manufacturing has gone from pretty much every Western country....not just the US. Even Thailand is starting to lose some to Burma now. Cheaper wages there and less environmental controls.

True in some industries in thailand, but if you live in SE Asia you will know expectations in living standards are far less, but in the US? They start to winge because they have to pay 4 $ a gallon for Petrol/gasoline whereas most other countries pay far more, yes tax is higher and theres something that annoys the US Population. They dunno wanna pay it.

Edited July 25, 2011 by KKvampire

[craigt3365]

Have no doubt the worlds economies are going to be making sure US economic influence and control over how it affects their own development has changed and will continue to .

Most of the employment in major manufacturing has gone from the USA never to return and its only the banking and financial influence that's of any relevance.

If the now Ideological Tea Party run Republican Party gets its way it will be a sort of haven for Million and Billionaires(money invested overseas) surrounded by the working class begging for food and dying for lack of health care.

A Congress that is taking the country to edge of a precipice

China Banging on the US door " We want our money back"

Most employment in major manufacturing has gone from pretty much every Western country....not just the US. Even Thailand is starting to lose some to Burma now. Cheaper wages there and less environmental controls.

True in some industries in thailand, but if you live in SE Asia you will know expectations in living standards are far less, but in the US? They start to winge because they have to pay 4 $ a gallon for Petrol/gasoline whereas most other countries pay far more, yes tax is higher and theres something that annoys the US Population. They dunno wanna pay it.

For sure. How about this article:

http://www.nytimes.com/2011/07/13/business/with-chevrolet-sonic-gm-and-uaw-reinvent-automaking.html?_r=1

Maybe it's a start to bring some industries back????? But it will be a big fight with the unions...

[craigt3365]

This is a great article on the current debt ceiling issues:

http://www.cnn.com/2011/POLITICS/07/15/debt.talks.cheat.sheet/index.html

[craigt3365]

I just got this via email. Unreal.

http://www.wtfnoway.com/

I love this comment:

If you spent $1 million a day since Jesus was born, you would have not spent $1 trillion by now...but ~$700 billion- same amount the banks got during bailout

[Wrong Turn]

US still designs, develops and produces the best weapons systems in the world

This show where the US's priorities are: funding the bloated and corrupt Military Industrial Complex. Pentagon + corporations such as

Raytheon, Lockheed-Martin, Boeing, Northrup-Grumman, L-3, BAE Systems (non-American company) and many others.

A very distorted set of priorities that Eisenhower warned us about. The MIC is a monstor, and Presidents have to kow-tow to it.

but I wonder how much longer we can pay for it.

Not much longer.

[NovaBlue05]

US still designs, develops and produces the best weapons systems in the world

This show where the US's priorities are: funding the bloated and corrupt Military Industrial Complex. Pentagon + corporations such as

Raytheon, Lockheed-Martin, Boeing, Northrup-Grumman, L-3, BAE Systems (non-American company) and many others.

A very distorted set of priorities that Eisenhower warned us about. The MIC is a monstor, and Presidents have to kow-tow to it.

but I wonder how much longer we can pay for it.

Not much longer.

Yeah....Even if the Secretary of Defense doesn't want a new toy, the defense contractors will fund enough Congressional re-election campaigns to make sure the contracts remain a "critical need"

[flying]

I just got this via email. Unreal.

http://www.wtfnoway.com/

Thanks craig

Very sobering yet easily understood visual aid.

[flying]

Dollar has slipped under 74

[craigt3365]

Just saw a report on CNN that August 2nd might not actually be the deadline. This date was picked some time ago and now increased tax collections may actually extend the date to the 10th or so. Unreal.

[Wrong Turn]

Just saw a report on CNN that August 2nd might not actually be the deadline. This date was picked some time ago and now increased tax collections may actually extend the date to the 10th or so. Unreal.

And even if the deadline is extended to the 10th and a deal is reached this all makes a downgrade from AAA very real.

[KKvampire]

D day approaching (D for death of the US economy or default , take your pick) there are some newbies, freshmen in Congress. the" Teabagging variety " who don't know the seriousness of the issue and the consequences of default or don't care.

The President can invoke the 14th Amendment raise the debt ceiling and act on behalf of the USA.

Then the Repugs can try and Impeach him, Thats all along what they want, they did it with Bill Clinton,. A bunch of Ideologs.

China"We want our money back"

Edited July 28, 2011 by KKvampire

[cloudhopper]

Just saw a report on CNN that August 2nd might not actually be the deadline. This date was picked some time ago and now increased tax collections may actually extend the date to the 10th or so. Unreal.

And even if the deadline is extended to the 10th and a deal is reached this all makes a downgrade from AAA very real.

And without any doubt whatsoever whenever that day comes it will be

[flying]

there are some newbies, freshmen in Congress. who don't know the seriousness of the issue and the consequences of default or don't care.

Or could be many of us here in the USA are disgusted with this BS Monopoly money that they can shrink & expand as suits their needs.

All the while devaluing the dollars that others who have lived by the rules & saved for their retirement shrink to dust.

Yeah your right... many, many of us dont care if this BS system fails once & for all.

Maybe then we can re-build a sound monetary system like we once had.....Before the FED Reserve

It is not about Republicans or Democrats or which President is currently having his puppet strings tugged.

Nothing personal but those Freshmen were elected by a majority for a reason.

If this bunch does not do as we instruct then.... they too will hit the bricks at the next election.

Edited July 28, 2011 by flying

[cloudhopper]

The faith expressed by some in the ability of any person or party to solve a mathematically/physically insoluble problem is touching.

Meanwhile the drama continues -

http://www.theburningplatform.com/?p=19233

[Naam]

Just saw a report on CNN that August 2nd might not actually be the deadline. This date was picked some time ago and now increased tax collections may actually extend the date to the 10th or so. Unreal.

And even if the deadline is extended to the 10th and a deal is reached this all makes a downgrade from AAA very real.

none of the three big rating agencies will dare to downgrade the U.S. of A. even if a technical default for a few days happens. an actual default and downgrade is either years away or will not happen at all because of debt monetising by means of inflation.

[KKvampire]

The Speaker Boehner can't get his own side to vote for his "Plan" , The Teabagger freshmen said they were off to the House chapel to pray.

http://www.salon.com...azy_republicans

Edited July 29, 2011 by KKvampire

[flying]

The Speaker Boehner can't get his own side to vote for his "Plan" , The Teabagger freshmen said they were off to the House chapel to pray.

Good!

Because if they agree to that bill they are not doing their jobs same as the other party.

We The People sent the freshmen there for a reason.

Boehner's plan of 910B in spending cuts while raising the drunken sailors credit 900B is just the usual dog & pony show.

When your country is on a hole the first course of action is stop digging. Shrinking this bloated pig of a government has to happen one way or another.