Republican Mainstream Flirts with Brief US Default

[EMRGLOBAL]

What troubles Wall St is not the idea of a default, but the idea that it might actually lead to constraints on spending.
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Well stated Random. I have zero respect for Wall Street. It's not the same "Street" it started out to be. It's a joke, it's manipulated.

There are other places to put your money to work which are far more rewarding in both %s and satisfaction than the :BUCKET SHOP: called Wall Street.

Wall Street needs the US GOV to steal from the American Generations to keep their profits flowing. SOCIALISM and PARASITES are RUNNING THE US STOCK MARKET.

MR. DIAMOND is crying about Capital Requirements when his fucking bank was bailed out TWICE !!@!!!!!!!.

The Market is slowly dying. Volume has been horrible since 08 and it is slowly disappearing even more.

IMHO, the future of the STOCK MARKET is to Limp Sideways while being held up by the gov at these current levels.

You can't have a US STOCK MARKET fall back to 6000 as Baby Boomers would Riot watching their retirement evaporated.

GAME OVER.

 

[jem]

if we are producing so much debt that we have to buy it back ourselves there is no need pay interest to the Fed to buy our bonds it we be cheeper and just as effective to print our own notes.

And if we default, I predict that would weaken the Fed to the point of making them useless.

So in Reality the Fed needs to change its tune, let some of its members admit to insolvency... carve up their assets and start lecturing congress about having a balanced budget or at least not borrowing more than it can finance.

Myself an many other conservatives would not see the need to go all Ron Paul on the Fed if the Fed told Congress to stop spending.

Right now, the system could break... and as much as the conspiracy guys think the Fed would love a new one world currency... there is also the risk of a new world anarchy.

 

[achilles28]

Quote from jem:



Right now, the system could break... and as much as the conspiracy guys think the Fed would love a new one world currency... there is also the risk of a new world anarchy.

That's how you get a One World Currency - order out of chaos.

Look what happened after 911. Only through crisis can the most draconian measures get passed. That's why the Government constantly hypes threats and whips up panic. 'Let no good crisis go to waste' - Rahm Emmanuel.

As far as the current monetary system, it's already broken. The debt can never be repaid without crashing the economy. And the economy is so weak, we can never stop borrowing. People don't get it. Reiterative bubbles, outsourcing and inflation has destroyed so much of our economy, it's mind boggling. The deficit has supplanted that gaping hole, and soon, America will lose it's capacity to borrow cheaply.

As far as it being some conspiracy US dignitaries (including those at the FED) have openly called for the end of dollar reserve status, that's bs. Bernacke and Greenspan have. So have Geithner, Paulson, and John Bolton, on multiple occasions.

Even a minor 'default' would send shockwaves through the system, up borrowing costs and hamstring the recovery. The FED would predictably intervene, sending commodities even higher and pinching the consumer even more. There's no point in taking half measures unless the Government is willing to go all the way. Yes, the Government should undergo a structured default. But when it goes, the economy will go into severe Depression. Rates on both the short and long end will sky-rocket as investors shun lending to a dead-beat Uncle Sam.

 

[Larson]

Quote from achilles28:

That's how you get a One World Currency - order out of chaos.

Look what happened after 911. Only through crisis can the most draconian measures get passed. That's why the Government constantly hypes threats and whips up panic. 'Let no good crisis go to waste' - Rahm Emmanuel.

As far as the current monetary system, it's already broken. The debt can never be repaid without crashing the economy. And the economy is so weak, we can never stop borrowing. People don't get it. Reiterative bubbles, outsourcing and inflation has destroyed so much of our economy, it's mind boggling. The deficit has supplanted that gaping hole, and soon, America will lose it's capacity to borrow cheaply.

As far as it being some conspiracy US dignitaries (including those at the FED) have openly called for the end of dollar reserve status, that's bs. Bernacke and Greenspan have. So have Geithner, Paulson, and John Bolton, on multiple occasions.

Even a minor 'default' would send shockwaves through the system, up borrowing costs and hamstring the recovery. The FED would predictably intervene, sending commodities even higher and pinching the consumer even more. There's no point in taking half measures unless the Government is willing to go all the way. Yes, the Government should undergo a structured default. But when it goes, the economy will go into severe Depression. Rates on both the short and long end will sky-rocket as investors shun lending to a dead-beat Uncle Sam.

"dead-beat Uncle Sam" never a truer word spoken.

Nothing will be done until the markets force a full-blown crisis.

Heck, even" serpent head" Jim Carville thinks civil unrest is becoming more likely.

 

[EMRGLOBAL]

Myself an many other conservatives would not see the need to go all Ron Paul on the Fed if the Fed told Congress to stop spending.
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That is the problem with the "Establishment" of REPUBLICANS.
Most do not see anything.

Do you really think with the wave of a fairy wand would stop the FED will magically stop printing money?

Do you think with that very same Fairy Wand would force Congress to stop spending?


IMHO game over for the US as we know it. The collision course is set on auto pilot at this moment. The prosperous states that once lead the nation are falling apart. Cities such as Chicago and NYC are slowly turning into Detroit.

James Carvel stated that he could see civil unrest. Re-read that statement. JAMES CARVEL, one of the biggest liberal cheerleaders in the country. Is this not a serious warning sign for all those who live on the East Coast and parts of the West Coast?

Did not a memorial day of UNREST spread across the Eastern Seaboard down into Miami? Black youth? The pundits blamed it on Social Media. Did some of the Mid West cities like Chicago get a little nervous? Like shutting down North Ave beach?

The Country is collapsing piece by piece and is evident for those who are smart enough to read between the lines.

A default would cause some pain but that pain is needed to slap the shit out of the FOOLS running the country down the drain.
It would also allow the restructuring of Debt.

All I can say is I live in Texas. We are on a strong rebound from the recession the state had about two years ago. Most of Texas did not see or feel the Recession of 08 (Depression for most of the country). Texas is now on a boom cycle with the discovery of one of the biggest natural gas fields in America. Bigger. More news today, SHELL finds biggest Oil discovery in the GULF, which means Houston will benefit from the growth and drilling in that area.

Companies are fleeing to Texas faster than most Commercial RE agents can find Land, Buildings, etc.

People (which may become a problem for Texas if the % are scum bag Parasites) are flocking to this state to find jobs and start over.

My point is, even with the possibility of a Default, there are states like Texas, North Dakota, etc that will survive, prosper and become the New Atlantis for many.

We can't stop this train as it heads straight for the cliff but you can jump off and take your chances on survival. Brief US Default is such a chance.

Welcome to OBAMANATION...How is that Hope and Change working out for you America?

Oh well, Who is John Galt.

 

[endsongs]

Here is a good example of how cost overruns for these projects bleed off money that would be more practically spent in basic research.

In the link below, the Sunshot initiative has received $112.5Million in funding.

http://www.pv-magazine.com/news/det...iative-receives-1125-million-boost_100002613/

The $112Million sounds like a lot but check out the link below:

http://www.wired.com/wiredscience/2011/06/msl-costs/

This rover is already $900 million over budget and, if the launch is delayed, they plan to dump another $570 million into it. So the cost overrun alone on this project will be equal to ~9 to 15 sunshot initiatives.

So what is more important in the long run? A rover that will just do what has already been done on Mars a little better? Or developing an energy source that could make the country cleaner and less dependent on fossil fuels? Since gov't contractors are working on the rover while the solar companies for the sunshot work are mostly private sector, whichever project gov't contractors are working on always takes precedent.

You can find dozens of examples where paying cost overruns for relatively useless gov't contractor projects trumps any research money for private sector companies. By starving the private sector of reseach money, we are allowing other countries to catch up to us in terms of technology.

 

[jem]

Quote from EMRGLOBAL:

Myself an many other conservatives would not see the need to go all Ron Paul on the Fed if the Fed told Congress to stop spending.
-------------------------------------------------------------------

That is the problem with the "Establishment" of REPUBLICANS.
Most do not see anything.

Do you really think with the wave of a fairy wand would stop the FED will magically stop printing money?

Do you think with that very same Fairy Wand would force Congress to stop spending?


IMHO game over for the US as we know it. The collision course is set on auto pilot at this moment. The prosperous states that once lead the nation are falling apart. Cities such as Chicago and NYC are slowly turning into Detroit.

James Carvel stated that he could see civil unrest. Re-read that statement. JAMES CARVEL, one of the biggest liberal cheerleaders in the country. Is this not a serious warning sign for all those who live on the East Coast and parts of the West Coast?

Did not a memorial day of UNREST spread across the Eastern Seaboard down into Miami? Black youth? The pundits blamed it on Social Media. Did some of the Mid West cities like Chicago get a little nervous? Like shutting down North Ave beach?

The Country is collapsing piece by piece and is evident for those who are smart enough to read between the lines.

A default would cause some pain but that pain is needed to slap the shit out of the FOOLS running the country down the drain.
It would also allow the restructuring of Debt.

All I can say is I live in Texas. We are on a strong rebound from the recession the state had about two years ago. Most of Texas did not see or feel the Recession of 08 (Depression for most of the country). Texas is now on a boom cycle with the discovery of one of the biggest natural gas fields in America. Bigger. More news today, SHELL finds biggest Oil discovery in the GULF, which means Houston will benefit from the growth and drilling in that area.

Companies are fleeing to Texas faster than most Commercial RE agents can find Land, Buildings, etc.

People (which may become a problem for Texas if the % are scum bag Parasites) are flocking to this state to find jobs and start over.

My point is, even with the possibility of a Default, there are states like Texas, North Dakota, etc that will survive, prosper and become the New Atlantis for many.

We can't stop this train as it heads straight for the cliff but you can jump off and take your chances on survival. Brief US Default is such a chance.

Welcome to OBAMANATION...How is that Hope and Change working out for you America?

Oh well, Who is John Galt.

First of all I said conservatives... the only establishment republicans are the ones paid by lobbyists.

Second --- a brief U.S. default is a supremely shitty idea.

Either go for the gusto and change the system or cut spending but still pay are debt.

A brief default would only put us is worse negotiating position with everyone in the world on just about every subject.

You would have chavez and China lecturing us on moral, promises and contracts... and thats just for starters.

 

[Bob111]

here we go again..another round...

Even a short delay in making payments on the nation's debt would cause severe disruptions in financial markets, damage the dollar and raise serious doubts about the nation's creditworthiness, Bernanke said.

wtf is going on here? is he dumb or playing dumb or think that everybody else is dumb? once again-how US can default on nation's debt payments, if tax receipts are way greater than interest payment(as been pointed many times here)?
it would be idiotic to default on debt payments, but at same time continue spend shitload of money on federal level. interest payments are always first. or US gvt is going regular US homeowner way? default on house payments,while keep buying the shit from walmart,waiting for gvt to help him? no loan from me..go head,default..looks like it's your agenda anyway. burn the debt..via inflation,dollar devaluation and\or default..here you have it. you got first two going on already,now it's a default time..

http://news.yahoo.com/s/ap/20110615/ap_on_bi_ge/us_bernanke#mwpphu-container

http://news.yahoo.com/s/csm/20110614/ts_csm/390544

 

[soldsoldsold]

Ok. For all of you that say the end is near for the US. How is it going to fall apart? A few people are making too much money from the state to just allow it to crumble. Will the states each go their separate ways? Will we have to start all over and write a new constitution enunciating the separation of corporation and state?

I'm calling you on it. How is it going to happen?

 

[AAAintheBeltway]

Quote from endsongs:

Here is a good example of how cost overruns for these projects bleed off money that would be more practically spent in basic research.

In the link below, the Sunshot initiative has received $112.5Million in funding.

http://www.pv-magazine.com/news/det...iative-receives-1125-million-boost_100002613/

The $112Million sounds like a lot but check out the link below:

http://www.wired.com/wiredscience/2011/06/msl-costs/

This rover is already $900 million over budget and, if the launch is delayed, they plan to dump another $570 million into it. So the cost overrun alone on this project will be equal to ~9 to 15 sunshot initiatives.

So what is more important in the long run? A rover that will just do what has already been done on Mars a little better? Or developing an energy source that could make the country cleaner and less dependent on fossil fuels? Since gov't contractors are working on the rover while the solar companies for the sunshot work are mostly private sector, whichever project gov't contractors are working on always takes precedent.

You can find dozens of examples where paying cost overruns for relatively useless gov't contractor projects trumps any research money for private sector companies. By starving the private sector of reseach money, we are allowing other countries to catch up to us in terms of technology.

This is the same point Newt Gingrich made in the NH debate. NASA has become such an ossified bureaucracy that it can't accomplish anything but burns incredible amounts of money in the process. If we had offered monetary prizes for various space milestones, it is hard to imagine what the private sector might have accomplished.

I am watching the same process at a very minor level here in the DC area. There is a small bridge on the way to the airport, just across from the Pentagon. They have been rebuilding it for a couple of years. You would think a competent contractor could build it from scratch in a couple of weeks. We have been dicking around with the mexican border fence for nearly a decade, still largely unbuilt. We pissed away huge amounts of money on the Yuca Mountain nuclear waste depository. Never finished and obama shut it down.

Just be glad the greatest generation was around to build the TVA and various western dams, GW bridge, Golden Gate Bridge, etc. We wouldn't live long enough to see a project like those accomplished now with all the red tape, litigation, useless studies, etc that are now required.