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(CNN)   China, Japan, Saudi Arabia, Germany and Singapore: Raise the debt ceiling NOW, a default by the United States would have a profound effect on our economies. This GOP scheme is going to tank the dollar as the world reserve currency   (money.cnn.com) divider line 521
    More: Interesting, United States, Saudi Arabia, Japan, Singapore, Americanize, action alert, Christine Lagarde, reserve currency  
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6845 clicks; posted to Main » on 14 Oct 2013 at 9:16 AM (38 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-10-14 08:01:54 AM
China, Japan, Saudi Arabia, Germany and Singapore: Raise the debt ceiling NOW, a default by the United States would have a profound effect on our economies.

So, you're saying that there would be some positive effects, then.
 
2013-10-14 08:18:52 AM
I came in here to joke about how some people are probably stupid enough to think this would be a good thing, because they don't understand how economics work and just want to stick it to the furriners, and then I saw this:

dittybopper: China, Japan, Saudi Arabia, Germany and Singapore: Raise the debt ceiling NOW, a default by the United States would have a profound effect on our economies.

So, you're saying that there would be some positive effects, then.

 
2013-10-14 08:22:18 AM

what_now: I came in here to joke about how some people are probably stupid enough to think this would be a good thing, because they don't understand how economics work and just want to stick it to the furriners, and then I saw this:

dittybopper: China, Japan, Saudi Arabia, Germany and Singapore: Raise the debt ceiling NOW, a default by the United States would have a profound effect on our economies.

So, you're saying that there would be some positive effects, then.


One can hope he's joking, but with the jokers ascendant in the House these days, you can't be sure.
 
vpb [TotalFark]
2013-10-14 08:26:14 AM
There is zero chance of a default.  I don't think he would do in until the last minute, but I am sure Obama will disregard the debt ceiling if it comes to that.

A default would violate the 14th amendment and if the minute the debt ceiling makes that inveitable it becomes unconstitutional.
 
2013-10-14 08:42:42 AM
This is just insane.
 
2013-10-14 09:17:14 AM

Nabb1: This is just insane.


The farking GOP, man.  Bunch of assholes.
 
2013-10-14 09:19:58 AM
I remember when Bush was evil and the President was expected to work with a Congress of the other political party, not the other way around.  But, then, that was like 8 years ago.  Times are different now.
 
2013-10-14 09:20:53 AM
If you are blaming one side any more than the other you aren't paying attention.
 
2013-10-14 09:21:15 AM
Guys, don't you know that global economy is just a dog whistle for world wide socialisms?
 
2013-10-14 09:21:16 AM

vpb: There is zero chance of a default.  I don't think he would do in until the last minute, but I am sure Obama will disregard the debt ceiling if it comes to that.

A default would violate the 14th amendment and if the minute the debt ceiling makes that inveitable it becomes unconstitutional.


I see this happening too, there's no way Obama would let it slide if the GOP kicked it off. But no matter what, the economy has been tarnished and back to recession here we go.

Either 2 ways this could play out: Massive GOP backlash for letting the debt ceiling come to Obama saving it OR Congress hungrily trying to kick Obama out for trying to save the debt ceiling via impeachment hearings or just general nuisance.
 
2013-10-14 09:21:38 AM
Phhhht. Who cares about a couple billion foreigners? We have 30 or so teabaggers who need their egos stroked.
 
2013-10-14 09:22:00 AM
Well, uh, manifest destiny and American exceptionalism and YOU'RE NOT THE BOSS OF ME!

See, libulardos, Real Americans know how to deal with uppity foreigners. Because reasons. And Jesus.
 
2013-10-14 09:22:30 AM
You know, an American might not try to assassinate the Congress men and women who put us in this corner because given our track record of re-electing these yahoos, we seem to be masochists. But a non-American doing the deed? I can see it. Maybe not a gun shot. But poisoning is a possibility. It will be interesting to see that if the country defaults if any of these people in Congress suddenly drop dead from mysterious heart attacks.
 
2013-10-14 09:22:31 AM
The TP wants us to default. Are there really people that haven't figured this out yet?

Any Democrat in front of a microphone since Bachmann said they got what they wanted and are excited should have repeated that line over and over
 
2013-10-14 09:23:38 AM

GORDON: I remember when Bush was evil and the President was expected to work with a Congress of the other political party, not the other way around.  But, then, that was like 8 years ago.  Times are different now.


Look, chucklefark, rubberstamping warrantless wiretapping is quite a bit different from tanking the world economy, so go kindly fark yourself with a cactus.
 
2013-10-14 09:23:50 AM

Nabb1: This is just insane.


Yup. But that's the country we live in now.
 
2013-10-14 09:24:24 AM

GORDON: I remember when Bush was evil and the President was expected to work with a Congress of the other political party, not the other way around.  But, then, that was like 8 years ago.  Times are different now.


s2.postimg.org
/GOP negotiations... (POTUS is the dog btw)
 
2013-10-14 09:24:43 AM
This could end up costing some of the people who give the GOP the most in contributions a lot of money. I think this might be what finally makes them cut the Tea Party loose, but we'll see.

The ultimate sign for me that that has happened is if Fox News starts being really critical of the teabaggers. Then you know it's over, and Ailes got the memo.
 
2013-10-14 09:24:52 AM

Director_Mr: If you are blaming one side any more than the other you aren't paying attention.


Thanks for trying to beat GORDON for one of the stupidest comments in this thread so far.
 
2013-10-14 09:25:29 AM

GORDON: I remember when Bush was evil and the President was expected to work with a Congress of the other political party, not the other way around.  But, then, that was like 8 years ago.  Times are different now.


Like when Bachmann said they got what they wanted or when Boehner said it in the deal that led to the sequester
 
2013-10-14 09:25:30 AM
www.jaybusbee.com

"Seence when does mah Tea Party listern ter smelleh ferriners?"
 
2013-10-14 09:25:36 AM
Sorry after being a democrat since Clinton - I side with the GOP over Obamacare. Honestly I could give a crap about how bad Obama has been as president,  but Obamacare really is something to fight against - forcing working people to pay for medical they cannot afford or need.
 
2013-10-14 09:26:36 AM
Healthcare companies 5.3 billion dollars annually on lobbying, by far more than any other field including defense. No wonder everybody else can suck it.
 
2013-10-14 09:26:40 AM

Director_Mr: If you are blaming one side any more than the other you aren't paying attention.


Bullshiat.  This is nothing more thank brinkmanship.  You what the danger is of standing on the brink on a regular basis?  Sometimes you go over.

These assholes should be in prison.
 
2013-10-14 09:27:06 AM

GORDON: I remember when Bush was evil and the President was expected to work with a Congress of the other political party, not the other way around.  But, then, that was like 8 years ago.  Times are different now.


Bush IS evil. Guy caused thousands of deaths... lots of wasted money... etc etc... invented wmd charges...

Because "they wanted to kill my daddy"

Now that doesn't mean Obama is in the clear... he's not... he's a misguided ideologue that is damaging to the country... as is many of the people representing the country in DC.

Symptom of the two party system is that you end up with a bipolar government.

We need to partially bring in sortocracy to balance the country... not that it will ever happen.
 
2013-10-14 09:27:08 AM
I am curious if you have positions shorting all sorts of things and you are a big teabagger either very close to or in congress could you be charged with some crime if the default actually occurs?
 
2013-10-14 09:27:09 AM

Misconduc: Sorry after being a democrat since Clinton - I side with the GOP over Obamacare. Honestly I could give a crap about how bad Obama has been as president,  but Obamacare really is something to fight against - forcing working people to pay for medical they cannot afford or need.


Too bad all of their attempts to repeal it have failed, which means that you have to suck it up, cupcake. If I had to accept the Iraq War as fait accompli, then you have to accept Obamacare.
 
2013-10-14 09:27:17 AM

theorellior: Well, uh, manifest destiny and American exceptionalism and 24.media.tumblr.com

See, libulardos, Real Americans know how to deal with uppity foreigners. Because reasons. And Jesus.


FTFY
 
2013-10-14 09:27:30 AM
We default, different countries start selling off our treasury bonds, the dollar is devalued, more people see this, sell off more treasury bonds, the dollar drops more, ad infinitum. Crash. Not to mention the other countries raise our interest on loans, and Washington has to raise taxes to cover, thus taking more money out of our pockets, and effecting local economies. Just a bad deal all around.
 
2013-10-14 09:27:38 AM
From WSJ:

"I guess that we could get lower in the polls. We're down to blood relatives and paid staffers now," said Sen. John McCain (R., Ariz.) said on CBS...
 
2013-10-14 09:28:20 AM

AeAe: Nabb1: This is just insane.

The farking GOP, man.  Bunch of assholes.


You can say that, but the GOP and the constituents already see it in the opposite way.

In other words, from their view the Jedi are evil
 
2013-10-14 09:28:35 AM
There is no other reserve currency.

We'll just have a much weaker one thanks to Congressional Republicans.
 
2013-10-14 09:29:17 AM

Misconduc: Sorry after being a democrat since Clinton - I side with the GOP over Obamacare. Honestly I could give a crap about how bad Obama has been as president,  but Obamacare really is something to fight against - forcing working people to pay for medical they cannot afford or need.


It's no longer about obamacare. It's your economic future. You cannot possibly think destroying your economy and angering the entire world is worth getting rid of Obamacare, can you?
 
2013-10-14 09:29:37 AM

NewportBarGuy: There is no other reserve currency.


Said the British seventy years ago.
 
2013-10-14 09:30:57 AM
Gosh the farkers who green-light are not even trying a little to hide their political agenda anymore. Out of all the headlines on all the stories submitted it seems they have been hand picking the most, I hate/Republican/religion-Christians/etc... Headline lead in's they can choose. Tired, tired, boring....
 
2013-10-14 09:30:57 AM
I'm no economist, but isn't our dollar value based and backed up by the gold in fort knox? Or am i mistaken.  Anyone?
 
2013-10-14 09:32:37 AM

Misconduc: Sorry after being a democrat since Clinton - I side with the GOP over Obamacare. Honestly I could give a crap about how bad Obama has been as president,  but Obamacare really is something to fight against - forcing working people to pay for medical they cannot afford or need.


One thing's for sure: there are populist issues that appeal to people who generally side with one party or another, and on most of those issues (TARP, the stimulus, requiring health insurance), the common sense of the common folk is just ignorant and wrong. Everybody needs health insurance. Full stop. TARP saved the world economy from freefall, and the stimulus plan (while too small) is the reason unemployment is under 8 percent today.

Other dumb things that a LOT of people believe: the federal budget should be run like a household budget. The unemployed just aren't trying to find a job. There's a big welfare hammock that any lazy person can access.
 
2013-10-14 09:32:46 AM
theorellior: 
Too bad all of their attempts to repeal it have failed, which means that you have to suck it up, cupcake. If I had to accept the Iraq War as fait accompli, then you have to accept Obamacare.

Furiner-like typing detected.
 
2013-10-14 09:32:48 AM

Bit'O'Gristle: I'm no economist, but isn't our dollar value based and backed up by the gold in fort knox? Or am i mistaken.  Anyone?


Yes and it's all protected by the tears of Glen beck.
 
2013-10-14 09:33:12 AM

Misconduc: Sorry after being a democrat since Clinton - I side with the GOP over Obamacare. Honestly I could give a crap about how bad Obama has been as president,  but Obamacare really is something to fight against - forcing working people to pay for medical they cannot afford or need.


4/10. You probably won't get too many bites.
 
2013-10-14 09:33:54 AM

Speaker2Animals: what_now: I came in here to joke about how some people are probably stupid enough to think this would be a good thing, because they don't understand how economics work and just want to stick it to the furriners, and then I saw this:

dittybopper: China, Japan, Saudi Arabia, Germany and Singapore: Raise the debt ceiling NOW, a default by the United States would have a profound effect on our economies.

So, you're saying that there would be some positive effects, then.

One can hope he's joking, but with the jokers ascendant in the House these days, you can't be sure.


It is largely a joke.  Largely.  If there were a way to screw China, Saudi Arabia, Germany, and to a lesser extent the others without damaging the American economy, I'd be more for it.
 
2013-10-14 09:34:09 AM

Bit'O'Gristle: I'm no economist, but isn't our dollar value based and backed up by the gold in fort knox? Or am i mistaken.  Anyone?


No.  It's backed by the full faith and credit of the US Government.  Gold is too rare and has too many industrial uses to make it worthwhile to back currency.
 
2013-10-14 09:34:09 AM

NewportBarGuy: There is no other reserve currency.

We'll just have a much weaker one thanks to Congressional Republicans.


It's Ok. We can use Zimbabwe's currency as a reserve. They printed plenty of it. Look. With a single bill from Zimbabwe we could pay off our debt's multiple times.

i.imgur.com
/yes, the dollar will be valued about this much if we default.
www.goldonomic.com
/what paying for a happy meal will soon look like.
 
2013-10-14 09:34:21 AM

Bit'O'Gristle: I'm no economist, but isn't our dollar value based and backed up by the gold in fort knox? Or am i mistaken.  Anyone?


no I think it's backed by the fiat factory in Sheboygan  or something...
 
2013-10-14 09:34:22 AM

KimNorth: Gosh the farkers who green-light are not even trying a little to hide their political agenda anymore. Out of all the headlines on all the stories submitted it seems they have been hand picking the most, I hate/Republican/religion-Christians/etc... Headline lead in's they can choose. Tired, tired, boring....


God, I get so tired of this bullshiat. Plonk.
 
2013-10-14 09:34:27 AM
HindiDiscoMonster:

img.fark.net

/GOP negotiations... (POTUS is the dog btw)


Because he's half black and half white?

i3.kym-cdn.com
 
2013-10-14 09:34:35 AM

theorellior: NewportBarGuy: There is no other reserve currency.

Said the British seventy years ago.


They lost their entire f*cing empire. We have not. We will not. We'll just have a damaged reputation, the second largest economy, and the world's largest military. None of that will change with a breach of the debt ceiling because it is not permanent. Even if they breach it trying to get a deal, it will be reset and we will carry on.

It will just cause extremely negative reactions through the entire world financial system. But, we already did that with MBS in 2008. Different animal this, but we will retain the reserve status through it.
 
2013-10-14 09:35:04 AM

Misconduc: Sorry after being a democrat since Clinton - I side with the GOP over Obamacare. Honestly I could give a crap about how bad Obama has been as president,  but Obamacare really is something to fight against - forcing working people to pay for medical they cannot afford or need.


1. I am happy you have never been sick and are immune to sickness and injury, so let's make a deal - you don't have to pay for insurance and if you ever do get ill, you pay all costs out of your own pocket... no going to the ER saying you can't afford the bill... ok?

2. Apparently, you have been asleep during the entire time that the ACA was debated, implemented, found constitutional, etc... so let me fill you in... if you cannot afford it, you don't have to buy it. There are waivers. WOW, what a concept.

3. You need a primer on the purpose of insurance and how it functions. For real world examples look to Social Security Disability INSURANCE, or the billions of policies that exist for home, auto, health, etc.
 
2013-10-14 09:35:31 AM
So we are in a perfect position to negotiate, then? Do as we say or we will tank the world economy!
 
2013-10-14 09:35:52 AM

Parthenogenetic: HindiDiscoMonster:

[img.fark.net image 500x305]

/GOP negotiations... (POTUS is the dog btw)

Because he's half black and half white?

[i3.kym-cdn.com image 150x134]


No.. that is HALF racist.
 
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