US defaults next week what does everyone think?

[TWD]

the problem is that only one party is actually trying to govern.

while one party is concerned with doing the job they were elected to do, another party is more concerned with their political football game.
one party has compromised time and time again, another party has not budged.
one party has shown willingness to compromise against even their own interests in favor of getting things done and keeping the country moving. another party has dug their heels into the sand, put their fingers in their ears, and been content to sit at the children's table.

the grown-ups are still offering them a seat at the adult table.
but this party has clearly shown that they don't belong.

I don't mean to pass over your entire line of argument. There are certain things that I'd like to address in the future, but right now they're just besides the point. Nobody cares about the overdone partisan talking points. We've heard them all, and it's just hard to care anymore. That does not mean I'm not interested in talking about this issue. In fact I couldn't be more excited to talk about it. It's the political fight of a generation, and there's plenty to analyze without having to play out the same old partisan games.

A few other random thoughts I'd like to put out there.

Regardless of what happens this week the US will not default. The treasury has brought in more revenue than it expected. Many are arguing that there's enough to completely fund everything for a few more months. Beyond that the Treasury can still prioritize things. That means that certain programs or services might have to show down, but the US debt obligations can still be paid. There's no telling what the Treasury and Fed can pull out their sleeve if their hand is forced.

Things don't really get interesting until the 4th. That's when they have the treasury auction. All bets are off at this point. Anybody that claims to know what will happen is talking out their ass. There are simply too many unknowns at this point. I can think up of scenarios where the auction happens, where it doesn't, where rates go up, and where rates go down. The politicians just look stupid when they try to tell the markets what will happen.

I'm really not a fan of ZeroHedge. They sensationalize everything, and simply tell soothsayers what they want to hear in order to generate traffic. They're no better than a tabloid in my opinion. Take for instance the day they riled up oil traders with rumors of a revolution in Saudi Arabia that never happened. I'd just be careful about trying to draw any big conclusions at this point.

 

[Capt.Toilet]

This is why I hate people who make it a point to not vote.

The apathy astounds me. Does the quote 'All that is necessary for the triumph of evil is that good men do nothing.' mean anything to you folks? And does it even occur to you that of all of the apathetic people who don't vote, that you may actually outnumber the amount of people who do? And does it occur to you that with that knowledge, that you can radically disrupt the vicious cycle of shitty voting, and finally getting rid of the shit that is in the system?

And yes, everyone's ass is on the line in Washington, but the sheep who vote for them are too stupid to act.

Exercise your civic duty and vote.

How about fuck the civic duty. You vote one asshole in, only so you can vote another asshole in 2-4 years from now. They are all scum bags when it comes down to it. Next presidential election I plan on doing a write in instead of voting for anyone listed. I believe Sam "Serious" Stone or Duke Theodore Nukem would be excellent candidates.

 

[kiff]

the problem is that only one party is actually trying to govern.

while one party is concerned with doing the job they were elected to do, another party is more concerned with their political football game.
one party has compromised time and time again, another party has not budged.
one party has shown willingness to compromise against even their own interests in favor of getting things done and keeping the country moving. another party has dug their heels into the sand, put their fingers in their ears, and been content to sit at the children's table.

the grown-ups are still offering them a seat at the adult table.
but this party has clearly shown that they don't belong.

are you trolling or incapable of simple arithmetic?

We have more than enough to cover debt obligations. period. Add in all the entitlements, military, etc and there's still some left over. Yea, bush spent a lot, but in less than three years Obama's spent almost as much as bush did in 8. The fact is it's time to cut the BS but Obama and the dems refuse to roll back the leviathan that you think will bring some kind of social justice. it IS that simple

 

[Sir_Brizz]

the problem is that only one party is actually trying to govern.

while one party is concerned with doing the job they were elected to do, another party is more concerned with their political football game.
one party has compromised time and time again, another party has not budged.
one party has shown willingness to compromise against even their own interests in favor of getting things done and keeping the country moving. another party has dug their heels into the sand, put their fingers in their ears, and been content to sit at the children's table.

the grown-ups are still offering them a seat at the adult table.
but this party has clearly shown that they don't belong.

Hahahaha, this kind of crap is exactly why nothing gets done in the government.

 

[Vaskadar]

PAAAANIC!

 

[Zur]

PAAAANIC!

Bring your towel.

 

[drakon]

Oh they'll let it go til the last minute for the media circus and then fix it by fucking us all in the ass some more. Same shit different day.

Me thinks the same too

This is why I don't vote. They're all retards and shit will never change until it's their own ass on the line.

Interesting but western-centric...

I blame the flawed construct of 'money' in the first place. No one wants to live in poverty & it's especially galling given there's more than enough of everything to go around. Maybe in X years we as a species will have grasped that & put aside our frankly petty differences, otherwise everything is going to lose.

/hippy

This too...

 

[Bi()ha2arD]

 

[DeathBooger]

This is why I hate people who make it a point to not vote.

The apathy astounds me. Does the quote 'All that is necessary for the triumph of evil is that good men do nothing.' mean anything to you folks? And does it even occur to you that of all of the apathetic people who don't vote, that you may actually outnumber the amount of people who do? And does it occur to you that with that knowledge, that you can radically disrupt the vicious cycle of shitty voting, and finally getting rid of the shit that is in the system?

And yes, everyone's ass is on the line in Washington, but the sheep who vote for them are too stupid to act.

Exercise your civic duty and vote.

I'll start voting when it's for the people by the people again instead of for the corporations by the corporations that it has become. It's a joke. I don't participate in jokes that have damaging outcomes. The day all of the corporations and all of their media subsidiaries are tossed out of Washington is the day I start caring again.

 

[SlayerDragon]

Hey, remember the government shutdown fiasco? Boy that sure was exciting to watch on the news so they could shoot advertisements into my eyes.

 

[BITE_ME]

FIAT Money is stupid.
I have 45,000 FIAT girlfriends.

Yep.
I just made them out of thin air.
Just like the morons that make money out of thin air.

We should go back to 1973.
And base all money on Gold (it was about $35.00 a ounce then).



PS. America is going to crash very hard.....4 months tops.

 

[SlayerDragon]

hahaha ron paul guys fuck yeah gold standard

 

[Capt.Toilet]

30 out of 53 guessers say US will lose AAA rating

OH SNAP!

 

[Firefly]

Yet more evidence of

2012

 

[Polychron]

Yet another...

OBAMA★DRAMA!

The U.S. will never run out of money as long as the IMF and the World Bank have their Headquarters in D.C.!

 

[N1ghtmare]

NEVER COMPROMISE EVEN IN THE FACE OF THE APOCALYPSE

Oh wait that is from Watchmen, not the Tea Party.

 

[Firefly]

more 2012 finical end of world possibilities..

 

[Firefly]

I blame the flawed construct of 'money' in the first place. No one wants to live in poverty & it's especially galling given there's more than enough of everything to go around. Maybe in X years we as a species will have grasped that & put aside our frankly petty differences, otherwise everything is going to lose.

/hippy

That's called communism. Great on paper but, thanks to human greed, doesn't work in practice.

 

[Capt.Toilet]

more 2012 finical end of world possibilities..

So that settles it. The end of the world is not going to be through a huge fireball like that old quack stated, but rather through human action, or perhaps a huge financial downturn. Money will be worth next to nothing in a few years, people are going to be eating at each other for a penny. Anarchy at its finest

 

[Jacks:Revenge]

Surely you must be referring to the DEMOCRATS, as they are the ones who FAILED TO PASS THE 2011 FEDERAL BUDGET WHEN THEY WERE IN CHARGE. They wouldn't even touch it, all because they knew if they left it for the GOP, they could blame the Republicans when the shit hit the fan.

hello?
Clinton and his democrats did the same thing prior to his reelection.

subsequent to that, Clinton also faced a mixed Congress in which neither party had a supermajority, yet his Congress still agreed to raise taxes on corporations and the wealthy on their way to balancing the budget and obtaining one of the largest surpluses the US has seen in recent history.

tell me what is different about this administration that the GOP has to blockade a debt deal based on revenue being completely off the table?
I'm not saying we don't have a spending problem, we do; but we also have a revenue problem that has been allowed to fester since the days of Reagan.

Republicans had NO PROBLEM voting unanimously for W. Bush's UNFUNDED wars and tax breaks for the rich.
why won't they pick up the tab under Obama? you tell me.

Yea, bush spent a lot, but in less than three years Obama's spent almost as much as bush did in 8.

you can't tax-cut your way out of a recession, it doesn't work.
stimulus spending was a necessity; the results of which are still debatable. the point however is that his spending would not have been required had Bush, and his Republicans at the time, not also spent their way through 2 completely unfunded wars and unnecessary tax cuts that DO NOT create jobs.

there's no such thing as "trickle-down" economics.
Obama wouldn't be in this position if not for the aggregate failure of Republican fiscal policy.