US taps pension fund to avoid passing debt limit

[oldtime]

Quote from Humpy:

Noble sentiments OT but what if the US can't pay ?
You may have to hang a few politicians before the rest decide to cough up.
Our sleezebags are capping pensions, pay rises, benefits etc.

What bugs me is they are talking of giving themselves another 30% pay rise.

oh, we can pay, that's not even a question

 

[Humpy]

Quote from oldtime:

oh, we can pay, that's not even a question

Hey if you guys are thinking of a " fire sale ". I thought I might get my bid in early for er ...............
what are you selling ? Besides the Brooklyn Bridge again. Bought that sob last year !

 

[hard kore]

Quote from oldtime:

everybody knows we are going to pay our debt

we always have, and always will..........

keep sipping the kool aid.

the chap. 11 paperwork is already printed and ready to file.

 

[oldtime]

Quote from Humpy:

Hey if you guys are thinking of a " fire sale ". I thought I might get my bid in early for er ...............
what are you selling ? Besides the Brooklyn Bridge again. Bought that sob last year !

naw, we got plenty more we can pay in taxes, but you are not going to get that without a fight, if not a flight

anything that an Englishmen is, we are exactly the opposite

even if it is not an issue

we just do it out of principle

you have high taxes and no guns

so it just comes natural to us to want the opposite

if we liked it the way you do it, we would still be living there

 

[oldtime]

otherwise

pension is a code word for Englishmen

Americans don't talk about "pensions"

 

[Bob111]

nation of deadbeats

that's sounds about right..

http://www.marketwatch.com/story/why-us-might-be-a-nation-of-deadbeats-2013-01-15

 

[clacy]

Quote from hard kore:

keep sipping the kool aid.

the chap. 11 paperwork is already printed and ready to file.

How can a nation that prints its own currency and holds all of its debt obligations in said currency default, unless an artificial, man-made choice to default is enacted?

 

[oldtime]

and the pathetic thing is, they worry about it

No self respecting American Man worries about Social Security

That is just for little old ladies

They talk about "pensions" like it is really a big deal

no wonder we beat the crap out of them in 1776 and in 1812

and will do it again after bailing their ass out out in 1942 if they ever give us so much as one ounce of shit

For crying out loud, they just live on a little itty bitty island.

All the smart courageous people left and came to America.

The only thing left there are the small timid afraid inbreds.

 

[dumb_mother]

Quote from clacy:

How can a nation that prints its own currency and holds all of its debt obligations in said currency default, unless an artificial, man-made choice to default is enacted?

yeah it's highly unlikely we'd default... paying back in devalued currency on the other hand is extremely probable. i feel sorry for anyone who is actually planning on holding the last few auctions of 30 year bonds to maturity.

 

[oldtime]

Quote from dumb_mother:

yeah it's highly unlikely we'd default... paying back in devalued currency on the other hand is extremely probable. i feel sorry for anyone who is actually planning on holding the last few auctions of 30 year bonds to maturity.

the trick is, if you are already old, and immature, you probably won't have to hold them that long.

Speaking of mature

I started selling mine at 126

a bit pre mature

I've been working my ass off just trying to make what I could have made by holding another year

The only comfort I have is knowing the interest I would have been getting isn't worth a shit anymore (well, maybe.)

I don't care what they say about the dollar

I trade it now, and have very little respect for anybody that calls himself a conservative money manager if he doesn't have some kind of currency component to his strategy.