The Debt Ceiling

[Walkoff Balk]

Re: The Debt Ceiling

http://news.yahoo.com/blogs/ticket/a...163023405.html

Sell the country to Apple.

[buzz1941]

Re: The Debt Ceiling

Proof Platinum Coin Seigniorage ---- Google it.

[Kaonohi]

Re: The Debt Ceiling

Proof Platinum Coin Seigniorage ---- Google it.

Reading stuff like this makes me glad the world is going to end on December 21, 2012.

Economics promotes insanity.

(Does this mean the proof platinum coins of no specified denomination that I have already acquired will therefore be worth the equivalent? Humph! I didn't think so.)

(I'm one of those 'crazies' who saw this coming and acquired substantial reserves of Ag, Au, and Pt, some proof, some BU, as was indicated by my good friend Justin Case.)

[Kaonohi]

Re: The Debt Ceiling

This is one area where I can agree with you, TuNnL. I feel that the current control held by two not-very-dissimilar political parties is what keeps us from accomplishing the greatness this nation once knew.

Time for the revolution! (The Libertarian Revolution! Return to individual freedoms, individual free enterprise, the people control the schools, government is reduced so that money goes into production rather than protraction.)

Good thing we still have our guns!

Wait one,... a uniformed representative of our government is at my door.....

(You want my... what? But they're legal! Registered! - Oh, that's WHY you want them, 'cause you know where they are. Yes sir, no sense going after illegal guns, they're too hard to find. Could you please point that in another direction???)

Oh well, we can always make shillelaghs....

[Leo Lakio]

Re: The Debt Ceiling

Oh well, we can always make shillelaghs....

I already got mine - family heirloom, y'know. (Oop; probably shouldn't have revealed that.)

[Walkoff Balk]

Re: The Debt Ceiling

I already got mine - family heirloom,

Do you mean the family jewels?

[Leo Lakio]

Re: The Debt Ceiling

Do you mean the family jewels?

Careful - don't be talking about my shillelagh now...

[TuNnL]

Re: The Debt Ceiling

This is one area where I can agree with you, TuNnL. I feel that the current control held by two not-very-dissimilar political parties is what keeps us from accomplishing the greatness this nation once knew.

And the nation is about to tumble much further. As CBS News reports, the Budget Control Act falls far short of what ratings houses like Standard & Poor (S&P) require for the United States to keep its AAA rating. Congress needed to cut $4 trillion, but instead cut a little more than $2 trillion. Kalalau was correct when he said, this “is not a game. Your personal fortunes will suffer because of this little show.” That begins now, with the rate our government continues to borrow going up. Interest rates for all Americans will skyrocket. And the U.S. dollar will plummet in value. All I can say is Obama and his new world order minions must be quietly celebrating. Their master plan is succeeding.

[matapule]

Re: The Debt Ceiling

All I can say is Obama and his new world order minions must be quietly celebrating. Their master plan is succeeding.

This agreement is being touted as "bipartisan" by both sides. What does Obama have to do with it? He proposed a solution (which included raising taxes) and this agreement looks nothing like it.

You marginalize yourself by making such outlandish and false statements. If there is a "new world order", it is the making of the teapublican/libertarian partisans. Where were you when the debt ceiling was raised 5 times under W with no cuts to the budget? Why all the angst now? Your link to the"Amero" is nothing more than a bunch of paranoid screwballs concocting more conspiracy theories. It is unfortunate you think it is necessary to post a link to this detritus.

[Kalalau]

Re: The Debt Ceiling

The budget deal cuts something like 325,000 jobs immediately. You do that during a recession if you want to turn it into a depression. And you want to have a depression so your Republican nominee can beat Obama in 2012. Very patriotic. Very job creating.

But at least the Republicans shut down the FAA. Talk about a waste of money! Who needs some cradle to grave socialist mommy big government federal agency making sure airplanes don't fall out of the sky, collide, crash, burn, killing untold thousands...? Let the market decide! Airlines that crash a lot will put themselves out of business. And as for safety, why should the taxpayers have to pay to keep flyers safe? Its their choice to fly, if they want to be safe they won't fly, its that simple. So good on the GOP for killing off the FAA. I hope they shut down the FDA too, who needs safe food?

[TuNnL]

Re: The Debt Ceiling

And the nation is about to tumble much further. As CBS News reports, the Budget Control Act falls far short of what ratings houses like Standard & Poor (S&P) require for the United States to keep its AAA rating ... Kalalau was correct when he said, this “is not a game. Your personal fortunes will suffer because of this little show.” That begins now, with the rate our government continues to borrow going up. Interest rates for all Americans will skyrocket. And the U.S. dollar will plummet in value. All I can say is Obama and his new world order minions must be quietly celebrating. Their master plan is succeeding.

This agreement is being touted as "bipartisan" by both sides.

The budget deal cuts something like 325,000 jobs immediately. You do that during a recession if you want to turn it into a depression.

And the hits just keep on coming...

Stocks: Worst day since 2008 financial crisis
By Annalyn Censky August 4, 2011: 5:18 PM ET


The Dow has now lost all of the ground it gained in 2011. Click the chart for more stock market data.

NEW YORK (CNNMoney) — Stocks plunged Thursday in their single worst day since the 2008 financial crisis.

The Dow tumbled 512 points — its ninth deepest point drop ever — as fear about the global economy spooked investors.

[Kalalau]

Re: The Debt Ceiling

Its having exactly the effect it was supposed to, aborting the recovery, sending the country into at least another recession, maybe even a Depression if the Republicans are lucky. So whoever they nominate will probably be able to beat Obama. The twit Palin, the religious & economic hypocrite Bachman, the guy who believes God lives on the imaginary planet Kolob...what a shame they don't have anybody reasonable and intelligent like Eisenhower or Dirksen any more, its just a clown show. They want another light weight like bush so they can steal whatever hasn't been taken already. Like the drunken sot Grant or the Alzheimers befuddled Reagan. Rick Perry would be a great choice, his Christian pose even while advocating secession from the union he might wish to govern. It will sure be a cute show. Anyway, congratulations to the Republicans on your new Depression!!

[Frankie's Market]

Re: The Debt Ceiling

And the nation is about to tumble much further. As CBS News reports, the Budget Control Act falls far short of what ratings houses like Standard & Poor (S&P) require for the United States to keep its AAA rating. Congress needed to cut $4 trillion, but instead cut a little more than $2 trillion. Kalalau was correct when he said, this “is not a game. Your personal fortunes will suffer because of this little show.” That begins now, with the rate our government continues to borrow going up. Interest rates for all Americans will skyrocket. And the U.S. dollar will plummet in value. All I can say is Obama and his new world order minions must be quietly celebrating.

Fascinating. Absolutely riveting.

Meanwhile, back in reality-land,....

The Nation's John Nichols hits it dead-on,....

Wasn't the Debt-Ceiling Deal Supposed to Avert a 512-Point Dow Collapse?

There was never any question that the debt ceiling needed to be increased. Nor was there much question that steps needed to be taken to address concerns about debts and deficits.

But there was a right way to do the deal and a wrong way. The right way was to increase revenues—with tax hikes for billionares and the ending to tax breaks for corporations that invest offshore—and cut wasteful defense and corporate-welfare spending. The wrong way was to maintain tax breaks for the super-rich while cutting education and safety-net programs that actually pump money into the economy.

.......................

But Obama's refusal to lead, and his seeming inability to check and balance the craziest excesses of an economically-illiterate Tea Party Republican caucus—which has few qualms about creating a crisis in order to score political points—is the problem. Bending to the right does nothing to stabilize the economy, let alone to start creating jobs or renewing hard-hit communities.

The United States needs a federal government that is in the fight for economic renewal—as it was under the leadership of Franklin Roosevelt in the 1930s—not on the sidelines. Or, worse yet, imposing cuts that actually make things worse.

Of course, the latest news will lead to renewed Republican demands for more of the same: tax cuts for the wealthy, tax cuts for corporations that offshore jobs and profits, deregulation, free trade and the shredding of the social safety net. Some GOP Congressional leaders may actually believe that making the rich richer will lead to economic growth.

But billionaires don't open factories in the United States with their tax-cut largesse, they invest in "emerging markets" on the other side of the world. To imagine differently is to buy into a fantasy that Wall Street abandoned years ago—when it started rewarding companies that lay off American workers with spikes in stock values.

[matapule]

Re: The Debt Ceiling

And the hits just keep on coming...

Stocks: Worst day since 2008 financial crisis
The Dow has now lost all of the ground it gained in 2011. Click the chart for more stock market data.

And the Teapublicans/libertarians are smiling ear to ear.

My answer is to raise taxes on everyone right now, especially those who make over $100K per year, to put a stop to the skid. This agreement was dumb and so are the ones who participated in it.

[TuNnL]

Re: The Debt Ceiling

The Nation's John Nichols hits it dead-on,....

Wasn't the Debt-Ceiling Deal Supposed to Avert a 512-Point Dow Collapse?

But there was a right way to do the deal and a wrong way. The right way was to increase revenues—with tax hikes for billionares and the ending to tax breaks for corporations that invest offshore—and cut wasteful defense and corporate-welfare spending. The wrong way was to maintain tax breaks for the super-rich while cutting education and safety-net programs that actually pump money into the economy.

I actually agree with Nichols point about about “ending tax breaks for corporations that invest offshore—and cutting wasteful defense and corporate-welfare spending.” Particularly for multi-national corporations like Walmart, who Democrats like Hillary Clinton and Ben Cayetano have bent over backwards to kiss @ss to. These are both points, by the way, that Tea Party/libertarian politicos have agreed with fiscally conservative Democrats over (despite matapule’s misinformed comments). Too bad the majority of Donkeys and GOP members pander too much to the middle for that to become reality.

I disagree, though that raising taxes on billionaires would in any way help the American economy. All it would do is punish those in society for doing well. Raising income taxes on any individual, at this point, would be counterproductive. Our country functioned without an income tax for more than a century. We can do it again.