If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(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  
•       •       •

6846 clicks; posted to Main » on 14 Oct 2013 at 9:16 AM (40 weeks ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



521 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

First | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | » | Last | Show all
 
2013-10-14 04:54:42 PM

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


If Obama gives in a precedent is set that will forever diminish the role of President. The Tea Party are trying to use blackmail to pervert the course of democracy and are therefore 100% to blame.
 
2013-10-14 05:00:22 PM

MemeSlave: How can you have a paper currency as a reserve currency?


Right now, the US dollar is backed by petroleum.  So long as OPEC sets the price of petroleum in dollars, the dollar has a set value worldwide.  I agree that this is a bizarre situation, to have the currency issued by one nation backed by another, and it could go away at any time if OPEC decides that another currency would be better.  In fact, it could happen this month.
 
2013-10-14 05:02:36 PM

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?


I don't know the answer to that but I do know that the value of the dollar had been falling for the last decade or so while the value of gold has hit record highs.
 
2013-10-14 05:05:44 PM

Speaker2Animals: Paying off loans early gives the money back to the back to lend to someone else. We did this when we re-fi'd on our last house and since we were never late with a payment, the same bank was waiting with open arms when we wanted to do the same deal on our new house.


Some banks don't see it that way, for some reason.

If you think about it, it's really no different than getting a mortgage paid off early because of selling the house.

I've always wondered how the banks that don't let you pay off the mortgage early deal with people who sell their houses before the mortgage is paid up.
 
2013-10-14 05:06:33 PM

HeadLever: LavenderWolf: Because economic growth happens in a vacuum, right?

Strawman argument.  Quit deflecting and anwser the question if you can.  I am beginning to think that you have no real ideas outside of strawman agruments and ad hominem attacks.  Way to keep it at the bottom of the triangle


I see right thru your "triangle" angle... That triangle is really just a lazy man's pyramid. Did you go with "triangle" instead of "pyramid" to avoid possibly offending Egyptians or Jews? I think they would be okay with the pyramid reference. They sure put a lot of work into those pyramids to have them reduced to a 2 dimensional reference.

/totally farking with you
// and hominy might be higher on the food pyramid, er uh, food triangle.
 
2013-10-14 05:07:53 PM

HeadLever: LavenderWolf: That said, the complex problem can be solved exactly as it has been solved in the past.

Maybe by enacting more free trade and globalist-centered agreements to put the middle class out of buisness for good?  Maybe if we enacted more policies like the one that got  rid of Glass-Steagall would help us to get back on our feet?

What I find funny is that you have the partisan blinders on so tightly that you cannot see that many of the issues we are currently facing is a direct result of policies that were enacted by Clinton's administration.  You want to go back to that, feel free.  Just don't be suprised when many of us will want to go in another direction entirely.


Partisan blinders, wow.

Here, let me explain my entire political life. I was born in '86, and first started paying attention when Clinton was being ousted. Yes, some of today's problems can be traced back to decisions made then. The vast majority of political problems, for my entire life, have come from Republicans. I'm not even a big democrat fan, it's just that they're clearly the lesser of two evils. They've shut down the government over partisan bullshiat twice in my paying-political-attention life. They started two wars, hid them both from the budget, and gave away free money under the guise of economic stimulation; yet they're the fiscally responsible ones?

Anyone born between 5 and 50 years from now has no business thinking the Republicans know finances. They don't. They have consistently farked things up, even when they're not in a position of power.

I don't like Democrats. I hate Republicans. Republicans work their base into a froth over abortion, then disavow responsibility when a Republican voter blows up a clinic or shoots a doctor. They work their base into a froth over weapons of mass destruction, then don't give a flying fark if there ever were any. Republicans are the greatest threat to Western society ever. And I mean that. Democrats might fark up, but at least their farkups aren't intentional.
 
2013-10-14 05:08:16 PM

NewportBarGuy: 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.


Largest economy, not second largest. China will not immediately overtake the US in the aftermath of a default because their econony will also be ruptured. If their biggest customer is unable to buy any more then they are just as farked.
 
2013-10-14 05:09:38 PM

dittybopper: 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.


You think inflicting hardship and misery on others is a joke?
 
2013-10-14 05:12:33 PM

LavenderWolf: Visionmn2: LavenderWolf: Visionmn2: AeAe: Nabb1: This is just insane.

The farking GOP, man.  Bunch of assholes.

Yeah, because the liberals have no responsibility in this and the GOP voted 15 trillion dollars in debt. Wake up fool. Sure if the dems said "ok, Obamacare is gone and we will cut our bs programs" this too would be over.

Yeah, no.

That's not how two equal sides work. The debate on Obamacare is OVER. The GOP LOST. It is the law of the land. You know how you can't shoot someone in the face for no reason, because there are laws against that? Because that's what Obamacare is now. The f*cking law. The supreme court - the ultimate arbiters, as defined IN the constitution, of what the constitution means - have ruled it constitutional. All challenges against it have failed.

What the GOP is doing right now is taking a hostage to get what it couldn't get through any legal channels.

You don't blame the victim for pissing off the madman with a gun. The blame goes to the madman with a gun.

And social security numbers were promised and it was law that they would not be used for identification, it was law that the funds would never be touched, it was law it was law it was law.  The point is that it was law and this is a law that needs to fall into the was category along with a bunch of other laws and taxes that have happened.  No one is claiming responsibility on either side for anything and there are not any consequences when people who are elected f*ck this country and do things that are against the law.

Dems put it in place, not the GOP.  No one wanted 14 - 17 trillion in debt, the dems spent it anyway.  GOP is simply attempting to bring balance back to what has been a free for all and the free for all is why this country is in shambles and everyone is so upset.

The madmen have shot enough people in the face and somehow by the law.  Time to end it and both sides need to feel a little pain to do it.  Blaming one side or the other remains insane, they are all to blame.

T ...

I love it, blaming the entire debt on the dems.

Learn some history. Democratic presidents fix economies while Republican presidents tank them. Over and over and over we've seen this, yet it's the GOP who bills themselves as financially responsible. Under Obama, the deficit (which feeds the debt) has shrunken. Bush started two pointless wars and added something like 10T to that debt, yet it's the Dems' fault. Clinton finished his presidency with record surpluses; Bush erased that within two years. Still it's the Dem's fault.


Curious. What's your opinion of President Woodrow Wilson?
 
2013-10-14 05:13:02 PM

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?


Not since the 1930's.  For a while, Americans could not redeem their federal reserve notes for gold, but foreign governments could.  Then, sometime in the seventies, the US stopped redeeming federal reserve notes entirely.
 
2013-10-14 05:14:48 PM

itsaidwhat: LavenderWolf: Visionmn2: LavenderWolf: Visionmn2: AeAe: Nabb1: This is just insane.

The farking GOP, man.  Bunch of assholes.

Yeah, because the liberals have no responsibility in this and the GOP voted 15 trillion dollars in debt. Wake up fool. Sure if the dems said "ok, Obamacare is gone and we will cut our bs programs" this too would be over.

Yeah, no.

That's not how two equal sides work. The debate on Obamacare is OVER. The GOP LOST. It is the law of the land. You know how you can't shoot someone in the face for no reason, because there are laws against that? Because that's what Obamacare is now. The f*cking law. The supreme court - the ultimate arbiters, as defined IN the constitution, of what the constitution means - have ruled it constitutional. All challenges against it have failed.

What the GOP is doing right now is taking a hostage to get what it couldn't get through any legal channels.

You don't blame the victim for pissing off the madman with a gun. The blame goes to the madman with a gun.

And social security numbers were promised and it was law that they would not be used for identification, it was law that the funds would never be touched, it was law it was law it was law.  The point is that it was law and this is a law that needs to fall into the was category along with a bunch of other laws and taxes that have happened.  No one is claiming responsibility on either side for anything and there are not any consequences when people who are elected f*ck this country and do things that are against the law.

Dems put it in place, not the GOP.  No one wanted 14 - 17 trillion in debt, the dems spent it anyway.  GOP is simply attempting to bring balance back to what has been a free for all and the free for all is why this country is in shambles and everyone is so upset.

The madmen have shot enough people in the face and somehow by the law.  Time to end it and both sides need to feel a little pain to do it.  Blaming one side or the other remains insane, ...


Outside my experience and learning. I'm not even American.
 
2013-10-14 05:16:31 PM

HindiDiscoMonster: ReverendJynxed: Why isn't anyone pissed off at SCOTUS for allowing a clearly unconstitutional law to be put into effect? It's a forced tax to subsidize the private insurance industry. We are being forced to buy something we don't want. Like being forced to buy kale on every burger just to pull it off because it supports the farking kale farmers.

They would have been better off eliminating private insurance altogether and gone straight tax and healthcare. That would have been a bit easier to swallow over this faux social healthcare.


Checks and balances right?

Make sure you stop driving and surrender your driver's license. After all, you don't want to be forced to buy Auto Insurance, right?


You can choose not to drive.

Not arguing one way or the other, just saying bad analogy.
 
2013-10-14 05:17:20 PM

LavenderWolf: Anyone born between 5 and 50 years from now has no business thinking the Republicans know finances. They don't. They have consistently farked things up, even when they're not in a position of power.


Log Cabin Republicans supposedly opted to support the Republicans because they valued fiscal responsibility more than their own self-preservation.  So, what is their rationale these days?  And have their numbers increased or decreased?
 
2013-10-14 05:19:01 PM

Mouser: LavenderWolf:
That's not how two equal sides work. The debate on Obamacare is OVER. The GOP LOST. It is the law of the land. You know how you can't shoot someone in the face for no reason, because there are laws against that? Because that's what Obamacare is now. The f*cking law. The supreme court - the ultimate arbiters, as defined IN the constitution, of what the constitution means - have ruled it constitutional. All challenges against it have failed.

What the GOP is doing right now is taking a hostage to get what it couldn't get through any legal channels.

You don't blame the victim for pissing off the madman with a gun. The blame goes to the madman with a gun.

Obama:  "A party should know when they are conquered."
GOP:  "Would you?  Would I?"

If our country is going to be run according to the attitude of Obama's supporters as demonstrated here, then I say burn it down--it's no longer worth saving.

Sic semper tyrannis.


I recommend you re-take Civics 101.  "Refusing to do your job", ie, pass a budget, isn't the same as "being conquered"...it's just refusing to do your job.   And the House Republicans are even being PAID for not doing any work.

Hmm, they sound like welfare queens...
 
2013-10-14 05:19:11 PM

HAMMERTOE: jst3p: The fact that you think an economy as large as ours is "basic finance" speaks volumes about your ignorance.

Operands: "+"; "-"; "*"; "/"

Show me a different one that relates specifically to National Economies.


I think those are actually "operators". "Operands" refers to the variables in use.

I'm pretty sure anyway.
 
2013-10-14 05:19:58 PM

odinsposse: impaler: So who do we believe? MugzyBrown, or the US Treasury?

Look, all we have to do is build a new system that handles all of the transactions of the American government with a new sub-routine that categorizes and prioritizes debt payments and stuff Republicans like over stuff flagged as "commie stuff" that won't get paid. By Thursday.

This is a great plan. Only Obama's stubbornness is holding it back.


Seems totally doable. What we need are National Budget Navigators to help the accountants at the Treasury pay the RIGHT people first, you know - like the Solybndra people.
 
2013-10-14 05:21:59 PM

MugzyBrown: Failing to lift the debt ceiling does not mean we default unless the president forces us to.


Yes, because he keeps the national checkbook in his desk in the White House...
 
2013-10-14 05:22:22 PM

jst3p: Thunderpipes: jst3p: Thunderpipes: Just increase the credit card limit, again. Brilliant.

Bad analogy is bad.

Correct analogy is correct.

Not sure why libs don't understand basic finance.

The fact that you think an economy as large as ours is "basic finance" speaks volumes about your ignorance.


We take in a certain amount. We spend more than that every year. We pay debts with credit. Interest gets more and more each year, we need credit increases.

Nope, libs are just wrong, as usual. It is exactly like a credit card. Libs are dumb, they have no argument, so they insult me. No problem. At least I have a brain, unlike the sheeple.
 
2013-10-14 05:24:29 PM

PunGent: MugzyBrown: Failing to lift the debt ceiling does not mean we default unless the president forces us to.

Yes, because he keeps the national checkbook in his desk in the White House...


Apparently he does, since he directs park rangers to shoo people off federal land at gunpoint, and veterans off of memorials, but claims he has no money.
 
2013-10-14 05:25:51 PM

Thunderpipes: jst3p: Thunderpipes: jst3p: Thunderpipes: Just increase the credit card limit, again. Brilliant.

Bad analogy is bad.

Correct analogy is correct.

Not sure why libs don't understand basic finance.

The fact that you think an economy as large as ours is "basic finance" speaks volumes about your ignorance.

We take in a certain amount. We spend more than that every year. We pay debts with credit. Interest gets more and more each year, we need credit increases.

Nope, libs are just wrong, as usual. It is exactly like a credit card. Libs are dumb, they have no argument, so they insult me. No problem. At least I have a brain, unlike the sheeple.


i.qkme.me
 
2013-10-14 05:27:33 PM

Thunderpipes: We take in a certain amount. We spend more than that every year. We pay debts with credit. Interest gets more and more each year, we need credit increases.

Nope, libs are just wrong, as usual.


Yep, look at that interest sky-rocket. Stupid libs.

research.stlouisfed.org
 
2013-10-14 05:31:54 PM
A little scary to think the "fix" is to keep increasing the debt ad infinitum. Keep blowing the bubble bigger, it'll surely never break?

/not an economist, so who knows
 
2013-10-14 05:33:59 PM

Nick Nostril: A little scary to think the "fix" is to keep increasing the debt ad infinitum


That's not what the debt limit does.
 
2013-10-14 05:38:08 PM
Problem is "we the people" are too stupid, fat, and lazy to do anything about these idiots in Congress. We just keep voting for them and watching our sports or reality TV or playing our computer games.

/crap, I got Twinkie all over my keyboard
//I'll have the dog lick it off
 
2013-10-14 05:51:05 PM

LavenderWolf: I don't like Democrats.


But you seem to think that we need to replicate exactly what they did before?  Sure thing, fanboy.

You may pretend to be a 'independent democrat' but you were caught with your hand in the cookie jar too many times for me to really belive it.  If you really didn't like democrats, you wouldn't be longing for the days of Clinton.
 
2013-10-14 05:51:24 PM

itsaidwhat: Deflation is different. That's when it's good to owe money - especially if you are holding hard sellable assets. If you are only holding cash - that's bad.


Why is it bad to be holding cash when the purchasing power of that cash goes up?
 
2013-10-14 05:55:09 PM

flondrix: Speaker2Animals: Paying off loans early gives the money back to the back to lend to someone else. We did this when we re-fi'd on our last house and since we were never late with a payment, the same bank was waiting with open arms when we wanted to do the same deal on our new house.

Some banks don't see it that way, for some reason.

If you think about it, it's really no different than getting a mortgage paid off early because of selling the house.

I've always wondered how the banks that don't let you pay off the mortgage early deal with people who sell their houses before the mortgage is paid up.


Dunno -- but I've never even seen a mortgage contract with an early payoff penalty, and I've now had about 10 mortgages, counting refinancings.
 
2013-10-14 05:56:15 PM

impaler: Yep, look at that interest sky-rocket. Stupid libs.


I think that he means the interest we pay on the National Debt.
 
2013-10-14 06:04:24 PM
And for those wondering how to fix the economy, simple, get incomes growing again. Thirty years of stagnation is quite enough.
 
2013-10-14 06:05:01 PM

wooden_badger: edmo: 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.

Congress has aptly demonstrated time and again they don't understand economics or finance and they're proud of it. The right wing circus media encourages their followers to remain ignorant and ignore any other view as "liberal propaganda," and they do so blissfully.

/you stupid Koch brothers are going to lose a ton on this one.

The Koch brothers were willing to spend hundreds of millions to buy the last election.  If causing a world economic crash allows them to come in and pick up the pieces, even if they lose half their wealth, it's a win to them.


Neo-Feudalism, yay!

/They don't have to be as filthy rich as they are now
//Just richer than anyone else.
 
2013-10-14 06:09:34 PM

HeadLever: impaler: Yep, look at that interest sky-rocket. Stupid libs.

I think that he means the interest we pay on the National Debt.


Even that's not going up every year.

research.stlouisfed.org

Especially if you look at it in percentage of
payments inflation adjusted
payments/revenue
payments/gdp

research.stlouisfed.org
research.stlouisfed.org
research.stlouisfed.org

I know this doesn't fit well with the GOP doom and gloom prophecies, but there it is.
 
2013-10-14 06:18:29 PM

impaler: Even that's not going up every year.


I agree, as it has flucturate some with the interest rates dropping to historical levels.  However, the problem with that is that they are poised to bounce in a big way with our great increase in Debt and the fact that interest rates can only stay the same or go up.

You can see this issue on that graph I posted earlier (about 1/2 way to the top of this thread).  It is the gap between Total Spending and the sum of all the other programs and it becomes one of the biggest spending items we have in about 20 years or so.
 
2013-10-14 06:24:04 PM

PunGent: I recommend you re-take Civics 101. "Refusing to do your job", ie, pass a budget, isn't the same as "being conquered"...it's just refusing to do your job. And the House Republicans are even being PAID for not doing any work.

Hmm, they sound like welfare queens...


ummm, the house did pass several budgets... the senate and potus refused to sign off on them.
who isn't doing their job?
 
2013-10-14 06:37:17 PM
"Sorry you foreigners. We're too busy pledgin' and Patrotin' to hear you."
www.washingtonpost.com
 
2013-10-14 06:37:49 PM

HeadLever: You may pretend to be a 'independent democrat' but you were caught with your hand in the cookie jar too many times for me to really belive it. If you really didn't like democrats, you wouldn't be longing for the days of Clinton.


Yeah, right, and I keep meeting guys who claim to be "libertarians" or "fiscal conservatives" but they mimic all the positions of the religious right, right down to supporting faith based initiatives and hating the gays.
 
2013-10-14 06:38:37 PM

AeAe: Nabb1: This is just insane.

The farking GOP, man.  Bunch of assholes.


Assholes? You're far too lenient.
 
2013-10-14 06:39:45 PM

WhyteRaven74: And for those wondering how to fix the economy, simple, get incomes growing again. Thirty years of stagnation is quite enough.


Incomes have been growing.  Not the incomes of anyone you know, but the incomes of the 1% of people who actually matter.
 
2013-10-14 06:44:15 PM

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.


Hey, you never know when you might need therapy for gender identity syndrome and you'll be glad Obama put it into your healthcare plan for you.

jst3p: The GoP pushed for the former (Medicare Part D and two unfunded wars while cutting taxes)


Thats why the Democrats voted against the wars in Iraq and Afghanistan right?  Good God, I'm sick of this high and mighty "Bush's wars" shiat.  2/3 of the democrats in the Senate voted for the Bush Tax cuts, Voted for the Iraq Wars and the Patriot act.  If Democrats hated Bush so much, they shouldn't have voted for his policies.

LavenderWolf: Through the same methods that worked the last time we had a Democratic president. The math just has bigger numbers.


Well the last time we had a balanced budget, we didn't have Obamacare, expanded medicare or 2 wars, so cutting both of those out would be a great place to start.

Some 'Splainin' To Do: The founding fathers were sure sloppy in not putting in any sort of checks or balances that would allow something like that to happen.


The founding fathers would probably set fire to congress and biach-slap everyone in the 10x10mi square on the potomac for letting the national debt escalate to $17TN  Furthermore, they'd also be surprised at how high of a percentage of the population is immediately affected by this shutdown.  In their day, Congress convened and then let out and by in large, people lived their lives governed by the rules of their states and counties.  The Federal government was there to provide common defense, a business climate where states couldn't tariff one another and other things such as uniform currency and patent law.  Their position on obamaphone lady is that she should sell her labor to someone who values it and use that money to purchase a phone if she needs one.

WhyteRaven74: And for those wondering how to fix the economy, simple, get incomes growing again. Thirty years of stagnation is quite enough.


6 years of Stimulus has done what, exactly to the unemployment rate?  8.1% to 7.7%?  PAR-TAY!
 
2013-10-14 06:49:19 PM

GanjSmokr: Drake Maijstral: GanjSmokr: Meh.  This debt ceiling thing is like the boy who cried wolf... we've seen this go down to the wire before.  It's political theater, just like most of the other shiat they do.

As the saying here goes, "Wake me when..." we actually default.  Then I'll pay attention and worry again.

Plan to wake up two days from now, then.

Just MHO, but if you really think this is going to happen without them finding a zero-hour "compromise", you haven't been paying attention.

If I'm wrong and they actually let it go past that point, I'll be happy to publicly admit I was wrong.  I'm pretty confident it won't come to that.


We were pretty confident the GOP wouldn't force a shutdown.  They proved us wrong.
We were pretty confident the GOP wouldn't let a shutdown last two weeks.  They again proved us wrong.
At this point, I'm no longer confident about anything the GOP does.  The GOP has managed to hurt themselves badly, and yet they're still forging ahead.  Bohner has lost control of his party to the TPers.

We're in uncharted territory here.  Anything can happen.  At this point, I'm betting on the following:
* The shutdown has lasted this long, so the Dems have little benefit in agreeing to any legislation the GOP proposes to resolve the shutdown until the 11th hour.  They may as well let the GOP embarrass themselves to the bitter end.
 * Once the Dems are ready to agree to a budget, whether the GOP still wishes to present something the Dems will agree to is dependent on whether Bohner has wrestled control of his party back from the TPers.  At this point, it would hardly surprise me if we slid into default, given the personalities, egos - and yes, let's not forget sheer stupidity - involved in this whole mess.
 
2013-10-14 06:51:37 PM

o5iiawah: In their day, Congress convened and then let out and by in large, people lived their lives governed by the rules of their states and counties.


And a whole bunch of people were the property of a wealthy few--yet still counted 3/5 towards the representation of the states they lived in.
 
2013-10-14 06:58:34 PM

flondrix: And a whole bunch of people were the property of a wealthy few--yet still counted 3/5 towards the representation of the states they lived in.


electricity didn't exist either.  What is your point?
 
2013-10-14 07:03:17 PM

o5iiawah: Some 'Splainin' To Do: The founding fathers were sure sloppy in not putting in any sort of checks or balances that would allow something like that to happen.

The founding fathers would probably set fire to congress and biach-slap everyone in the 10x10mi square on the potomac for letting the national debt escalate to $17TN Furthermore, they'd also be surprised at how high of a percentage of the population is immediately affected by this shutdown. In their day, Congress convened and then let out and by in large, people lived their lives governed by the rules of their states and counties.


So your arguments have official been reduced to speculating (or rather asserting) that the founding fathers would have had a given set of opinions about the current situation.

Okay, thread's done, everyone. o5iiawah can read the minds of the dead.
 
2013-10-14 07:32:42 PM

Peter von Nostrand: 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


We are not going to default... we have plenty of money to pay our debts... typical Democrat scare tactic...
 
2013-10-14 07:34:27 PM

sethen320: I think those are actually "operators". "Operands" refers to the variables in use.

I'm pretty sure anyway.


And you would be correct. I was typing in a hurry.
 
2013-10-14 07:34:37 PM
0/0

"The reasonable man adapts himself to the world; the unreasonable one persists in trying to adapt the world to himself. Therefore all progress depends on the unreasonable man."

George Bernard Shaw


itsaidwhat


faqsmedia.ign.com
 
2013-10-14 07:47:22 PM

The_Original_Roxtar: PunGent: I recommend you re-take Civics 101. "Refusing to do your job", ie, pass a budget, isn't the same as "being conquered"...it's just refusing to do your job. And the House Republicans are even being PAID for not doing any work.

Hmm, they sound like welfare queens...

ummm, the house did pass several budgets... the senate and potus refused to sign off on them.
who isn't doing their job?


Yeah...writing something in crayon and saying "pass it or else, plus no girls allowed" isn't really a passing grade amongst us adults.  "Passing" legislation you KNOW isn't going anywhere is childish...they might as well pass laws outlawing the moon.
 
2013-10-14 07:49:42 PM

OlderGuy: Peter von Nostrand: 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

We are not going to default... we have plenty of money to pay our debts... typical Democrat scare tactic...


Yes, because no entity ever has ever defaulted on a debt it had the ability to pay...

/hell, half my legal practice in my early years was based on suing people who didn't pay what they owed...wouldn't have been much point if they hadn't had the money.
 
2013-10-14 07:58:16 PM

itsaidwhat: CleanAndPure: HotIgneous Intruder: Fark_Guy_Rob: I owe hundreds of thousands of dollars in debt at ridiculous interest rates.  Much of it is immune from bankruptcy (yay - education bubble!).

Bring on the inflation.  When a loaf of bread costs 100 dollars and my annual salary is 500,000k - my debts will be a drop in the bucket.

Good plan, but I suspect interest rates will go up to match the inflation.

They certainly will...

However for many people the majority of their debt is their fixed rate mortgage.

If we have 1000% inflation...I will still be paying 3% something interest.

Typically inflation hurts the rich but is beneficial to the majority of people... that's why politicians hate it.

Yes. Inflation hurts businesses that need cash for growth. (Take note of the billions that companies like Apple, Johnson & Johnson, etc have squirreled away to insulate their cash hungry research programs from inflation.) Old people complain about inflation because "a tomato use to cost a nickel" but actually, old people have cash. And when inflation comes, cash is king. It makes selling a house difficult because their are fewer folks qualified for financing, which also keeps prices down.

Deflation is different. That's when it's good to owe money - especially if you are holding hard sellable assets. If you are only holding cash - that's bad. Gold doesn't help either. No one is eating gold. Lead is the trump commodity under deflation conditions - you can get anything you need with bullets. (That's why they have become a scarce commodity under this administration.)


Oh.  You're one of those.

Yeah, we've got the highest gun ownership rate on the planet, and you're worried Obama is stealing yours.

/pro-gun
//anti-idiot
 
2013-10-14 08:04:22 PM

PunGent: MugzyBrown: Failing to lift the debt ceiling does not mean we default unless the president forces us to.

Yes, because he keeps the national checkbook in his desk in the White House...


yep, it has kitties on it.

i.imgur.com
 
2013-10-14 08:09:44 PM

AeAe: The farking GOP, man. Bunch of assholes.


Conservative voters are the farking assholes.

Seriously, Democratic politicians are just about as craven, loony, and corrupt, but at least liberal voters keep them on a shorter leash. When Democrats start being dicks, liberals skip going to the pols on election day, and stop making donations. Democratic Pols biatch all the time that liberals are 'unreliable', when really their fed up with your quisling bullshiat.  Libertarian and Conservatives always vote, and vote Republican no matter what. So Republican politicians think nothing of screwing over the nitwits that vote for them.

Republican: Vote for me I'll lower your taxes and make abortion illegal.
Tard Voter: votes.
Republican: Cuts capital gains taxes, school funding, and lets out sweetheart no bid government contracts to associates.
 
Displayed 50 of 521 comments

First | « | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is closed to new comments.

Continue Farking
Submit a Link »






Report