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There is absolutely not going to be a default. Default =depression.
Treasury Default Could Crash US, Global Economy: Bank Analyst Richard Bove, Leading To A Depression Lasting Decades
An agreement will be reached at the 11th hour. However, the world, and this nation's investors could lose confidence in the market before the 18th, siending the stock market into a downward spiral. If that happens, I intend to cash in on it, and buy, buy, buy (during the dip)
Wow!
Sold BOTH of them?
No, Henry. I sold $92,000 worth. That was all I had left after cashing out 80% of my investments in 2008, right before the Bush recession, and parking it all into certificates of deposit. Thanks to democratic party produced Medicare and Social Security, plus living frugally with no debt (I even pay cash for cars), I'll never have to work again.
You?
At least until you get hit with means testing. Someone is going to notice the CDs and savings accounts and IRAs and 401ks and once they figure out you have cash, kiss the Medicare and SSI goodbye.
The tit is dry.
No, Henry. I sold $92,000 worth. That was all I had left after cashing out 80% of my investments in 2008, right before the Bush recession, and parking it all into certificates of deposit. Thanks to democratic party produced Medicare and Social Security, plus living frugally with no debt (I even pay cash for cars), I'll never have to work again.
You?
At least until you get hit with means testing. Someone is going to notice the CDs and savings accounts and IRAs and 401ks and once they figure out you have cash, kiss the Medicare and SSI goodbye.
The tit is dry.
No Problem! I used to be a Republican, so I know all about Grand Cayman banks!
...that's where Bill and Hillary do their banking, you must get confused..ah what?
There is absolutely not going to be a default. Default =depression.
Treasury Default Could Crash US, Global Economy: Bank Analyst Richard Bove, Leading To A Depression Lasting Decades
An agreement will be reached at the 11th hour. However, the world, and this nation's investors could lose confidence in the market before the 18th, siending the stock market into a downward spiral. If that happens, I intend to cash in on it, and buy, buy, buy (during the dip)
There is absolutely not going to be a default. Default =depression.
Treasury Default Could Crash US, Global Economy: Bank Analyst Richard Bove, Leading To A Depression Lasting Decades
An agreement will be reached at the 11th hour. However, the world, and this nation's investors could lose confidence in the market before the 18th, siending the stock market into a downward spiral. If that happens, I intend to cash in on it, and buy, buy, buy (during the dip)
In private, Boehner has told his allies that he won’t bring up a clean CR, and he’s hopeful that as the deadline nears, President Obama will deal. “There’s no way the president holds firm,” a House GOP insider predicts. “Once that crack opens, I don’t know how the debt limit will be addressed, but it won’t be by Republican capitulation.”
Boehner remains in the clenched and locked position.
'House of Indecision' | National Review Online
In private, Boehner has told his allies that he wont bring up a clean CR, and hes hopeful that as the deadline nears, President Obama will deal. Theres no way the president holds firm, a House GOP insider predicts. Once that crack opens, I dont know how the debt limit will be addressed, but it wont be by Republican capitulation.
Boehner remains in the clenched and locked position.
'House of Indecision' | National Review Online
In private, Boehner has told his allies that he won’t bring up a clean CR, and he’s hopeful that as the deadline nears, President Obama will deal. “There’s no way the president holds firm,” a House GOP insider predicts. “Once that crack opens, I don’t know how the debt limit will be addressed, but it won’t be by Republican capitulation.”
These idiots are ready to drive this country over a cliff.
These idiots are ready to drive this country over a cliff.
What cliff...The 17 trillion national debt cliff?
These idiots are ready to drive this country over a cliff.
What cliff...The 17 trillion national debt cliff?
Our nations infrastructure, science and tech isn't the problem. Between 1950-1990 those were the same if not more of the budget...
Look else where.
Look at what's causing the debt over the last 13 years....Remember we have been funding those three important areas for a very long time. So think about it.
Look at what's causing the debt over the last 13 years....Remember we have been funding those three important areas for a very long time. So think about it.
Just complete your thoughts and quit screwing around...oh, make it brief, I'm tired.
Look at what's causing the debt over the last 13 years....Remember we have been funding those three important areas for a very long time. So think about it.
Just complete your thoughts and quit screwing around...oh, make it brief, I'm tired.
The same amount of resources by gdp were put into those areas throughout the past 60 years.
What charged? Something fishy.
..you tell me..Default to ourselves?
The United States is the largest buyer of American debt thanks to the FED printing 85 billion a month. That's why they will never take their foot off the gas.
-Geaux
Missing a debt payment will be a disaster. It is a shock that will absolutely seize the global financial system, shutter banks, destroy the US credit rating, skyrocket interest rates, destroy jobs & the economy.
The Federal Reserve has been operating a controlled default. It buys debt from debt holders & sits on it at zero interest. It is the same as sterilization or monetizing debt.
Why would we default?
Our service on the debt costs about 20 billion a month we currently collect more than 10 times that a month in tax revenue.
Even with no increase in the debt ceiling we should not have a problem servicing the debt.
default means more than just not paying interest on the debt.
it means not paying interest on the debt, not cashing out securities that are withdrawn, not paying bills that are owed to contractors, etc etc..
if we owe money (especially to non-Federal govt. entities) and don't pay it, we have defaulted.
J.C. Penny and Sears are both in such fragile condition already that a government default will be enough to send them over a cliff. Both are anchors at a large number of shopping malls. Shopping malls fail when they lose their anchors. If this goes into Novemeber, you can expect consumers to cut their shopping for Christmas.
But before all that happens, Wall Street goes into a meltdown...especially if foreign markets start to drop because of loss of confidence in Asia and Europe. If that happens, the dominos start to fall.
Only an unPatriotic traitor would actually wish for the USA to default.
Sounds like Obama for sure..
Obama isn't a Tea Bagger.
If someone calls you and threatens to ruin your credit, if you don't do what they want you to do, they can be arrested for extortion.
So can the FBI arrest House Republicans for extortion?
No but we can hang Obama for treason if he defaults on the debt. By law the debt gets paid from the receipts. There is no reason to default on our debts, we don't need to borrow any more money, the feds will have to learn to do more with less and stop crying about it.
