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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 60
    More: Interesting, United States, Saudi Arabia, Japan, Singapore, Americanize, action alert, Christine Lagarde, reserve currency  
•       •       •

6852 clicks; posted to Main » on 14 Oct 2013 at 9:16 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



Voting Results (Funniest)
View Voting Results: Smartest and Funniest

2013-10-14 09:34:27 AM  
8 votes:
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 09:51:00 AM  
7 votes:

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.


The constitution is just a piece of paper written by socialists. Except the Second Amendment, which was written by Jesus.
2013-10-14 09:47:11 AM  
5 votes:
Clearly, these countries have never owned a small business.  You see, when a business has bills it needs to pay, it can either pay those bills or default on them.  The fiscally conservative way is to default on your bills.  That's how I run my small business, and why I'm voting for Ted Cruz.
2013-10-14 09:27:38 AM  
5 votes:
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 10:09:16 AM  
4 votes:

Testiclaw: DON'T STAND SO CLOSE TO MD


What's wrong with Maryland?
2013-10-14 09:22:00 AM  
4 votes:
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 08:01:54 AM  
4 votes:
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 09:36:50 AM  
3 votes:

Slaxl: 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?


I don't think you understand slaxl.

POOR PEOPLE ARE GETTING HEALTH CARE!
POOR PEOPLE ARE GETTING THINGS!

WE CAN'T HAVE POOR PEOPLE HAVING THINGS OR OUR RICH PEOPLE THINGS ARE WORTHLESS BECAUSE THEY ARE OWNED BY POORS!
2013-10-14 09:30:57 AM  
3 votes:
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 09:25:30 AM  
3 votes:
www.jaybusbee.com

"Seence when does mah Tea Party listern ter smelleh ferriners?"
2013-10-14 09:20:53 AM  
3 votes:
If you are blaming one side any more than the other you aren't paying attention.
2013-10-14 08:18:52 AM  
3 votes:
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 12:25:32 PM  
2 votes:

Dusk-You-n-Me: Joe Blowme: no, its not.

Hard to know who to believe here. The IG of the Treasury or Some Guy On The Internet Because He Says So. Tough call.


well, i did stay at a Holliday Inn last night
2013-10-14 12:22:40 PM  
2 votes:

Joe Blowme: no, its not.


Hard to know who to believe here. The IG of the Treasury or Some Guy On The Internet Because He Says So. Tough call.
2013-10-14 11:44:09 AM  
2 votes:

www.truthdig.com



cdn2-b.examiner.com



www.wwrl1600.com


2013-10-14 11:40:59 AM  
2 votes:
www.angryflower.com
2013-10-14 11:29:37 AM  
2 votes:

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?


The US dollar is not backed by gold. it's backed by "the full faith and credit of the United States of America", which USED to be absolute. But republicans are now whacking it with a stick hoping candy comes out.
2013-10-14 10:31:54 AM  
2 votes:
Who cares about them thar furriner places. What, a bunch a squinty-eyed commies, weird cartoon watching commies, terrorists, commie nazis, and what ever the hell a Singapore is. I don't know where that is, and real 'Muricans don't! We care about 'Murica and tossing General El Presidente Hussian Commie Osama Fartbongo Obammy outta the WHITE house.
Kin I get a cheer for willful ignorance!
2013-10-14 10:14:58 AM  
2 votes:

itsaidwhat: Obama derpityderpityderp.


1.bp.blogspot.com
2013-10-14 10:08:09 AM  
2 votes:

way south: If the world really wanted to see a solution then they'd have Putin call the white house and negotiate a settlement. They'd drag both party leaders into a room at the UN and give them a stern talking to.
This chiding is just so other leaders can score points of their own. They couldn't care less if we default.


www.reactionface.info

way south: So, yes, there might be a silver lining to this. Famines and wars aside.


I hope you have some dried beans and a reverse osmosis still in with all those guns.
2013-10-14 10:03:52 AM  
2 votes:

Weaver95: DubtodaIll: I'm for default not because I think it will do any immediate good but that it will cause global reckoning.  Something needs to happen to jolt this nation out of the decades long cycle of continuing to spend more money than we have and creating a level of debt that is difficult to fathom.  Sure, things have worked fine under this system for a while, but the longer we attempt this mode of economics the worse the situation becomes.  I would rather see we work to fix our situation by normal means however I think that's far more impossible than the "impossibility" of the US defaulting on its full credit.  This Congress is so dysfunctional that it really brings in to question the validity of the system.  And maybe by some stroke of luck that dysfunction will force a situation where we're actually forced to face the consequences of the decisions that have been made in the past.
    I really don't know where I was going with any of this, but while a default would be an catastrophic situation, it may be what needs to happen now to ensure a survivable future.

The sting survive and the weak perish, is that it?


Approves

www.onlinesheetmusic.com
2013-10-14 09:59:09 AM  
2 votes:
scontent-a.xx.fbcdn.net
2013-10-14 09:49:40 AM  
2 votes:

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.


No, no, no. Trolling isn't just posting something patently wrong in the hopes people will correct you. You have to actually stoke the fires of outrage - maybe add a dash of racial tension or fake a persecution complex. Try implying that people who disagree with you are naively optimistic children or jobless moochers. Put some effort into it next time.

DubtodaIll: I'm for default not because I think it will do any immediate good but that it will cause global reckoning.  Something needs to happen to jolt this nation out of the decades long cycle of continuing to spend more money than we have and creating a level of debt that is difficult to fathom.  Sure, things have worked fine under this system for a while, but the longer we attempt this mode of economics the worse the situation becomes.


Plenty of perfectly stable countries have higher rates of debt-to-GDP than us (Canada, the UK, Japan, etc). The absurd hysterical fearmongering over the national debt has so far been far more harmful than the debt itself, seeing as it has resulted in us cutting government spending during a recession, the absolute worst time to do so.
2013-10-14 09:45:29 AM  
2 votes:
For Halloween, is Bohner dressing as Nero?
2013-10-14 09:32:46 AM  
2 votes:
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 09:25:36 AM  
2 votes:
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 09:24:52 AM  
2 votes:

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 09:21:15 AM  
2 votes:
Guys, don't you know that global economy is just a dog whistle for world wide socialisms?
2013-10-14 09:19:58 AM  
2 votes:
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 08:04:22 PM  
1 votes:

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 06:37:17 PM  
1 votes:
"Sorry you foreigners. We're too busy pledgin' and Patrotin' to hear you."
www.washingtonpost.com
2013-10-14 12:05:06 PM  
1 votes:
Misconduc:nice troll, fact is they are do-nothing leaches - I would know I have roughly 50 tenants and all are on Federal assistance. Less than 25% worked their entire life, most don't even have a high school education - they worked a dead end job and did not bother to save any kind of money and now given free handouts because they didn't bother to attend career day in high school.

I have at least 10 that didn't even finish high school or have a job in over 10 years, and these are in their 40s collecting foodstamps and other assistance. Sleep well knowing your hard earned money goes to someone who refuses to pick up a shovel and do some god honest work for a days pay, instead our lovely government just hands out assistance to those who simply need to go out and earn their keep.


Nice, except you forgot to tell us about your supermodel GF, your five advanced degrees, needing to get to the gym in 26 minutes, etc.
2013-10-14 11:28:13 AM  
1 votes:

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


Oh, bless your heart.
2013-10-14 11:10:18 AM  
1 votes:
Joe Blowme: We should just listen to what the POTUS said about raising the debt celling

We will not deafault on our payments, the gov takes in more than enough to pay the interest on our debt.... default talk is just scaremongering
 I really, really don't understand economics, or how the US government operates financially. In fact, I INSIST on being wrong. And I am proud of not knowing any better.

Tea Partier in a nutshell
2013-10-14 11:09:51 AM  
1 votes:

itsaidwhat: VendorXeno: itsaidwhat: Obama and his libtard sycophants are equally to blame by representing the do-nothing leaches of society.

Close to 90% of the people receiving some kind of federal assistance fall into the categories of working poor, retired or disabled, including veterans and the elderly, people who put in their time. To call them do-nothing leaches [sic] is one of the lowest! most insulting and disgusting lies a person can spread about their fellow citizens. When itsaidwhat employs this lie it demonstrates him to be a dishonest, stupid, hateful human being, one of the worst of us. This is the face of the right wing now, this ignorant malice and selfish dishonesty.

Yes. I work for a living. That makes me ignorant, malicious, selfish and dishonest.

I am rubber, you are glue...


It is your opinions as presented on this website that makes you look ignorant, malicious, selfish and dishonest, not the fact that you work for a living.
2013-10-14 11:06:49 AM  
1 votes:

TyrantII: Which would kick of a host of constitutional litigation and doubt, as well as see the GOP finally having a thinly veiled reason to impeach him at the same time.


I really hope Obama does cite the 14th and then I really do hope the GOP tries to impeach the first black President of the United States of America...

(with respect to my homosexual brothers and sisters)...

i0.kym-cdn.com
KIA
2013-10-14 10:41:50 AM  
1 votes:
As a non-government dependent, non-government employed, hard working, self-insured, productive member of society, I'm getting a kick out of the replies in this thread.
2013-10-14 10:37:20 AM  
1 votes:
media.cagle.com
2013-10-14 10:31:37 AM  
1 votes:

RickN99: SpectroBoy: The Dem's position is "Pass a clean bill to prevent the impending disaster"
The GOP position is "No funding until we get our other demands met too."

Dems: Pass a clean bill and fund the entire government.
Obama:  We won't negotiate with the GOP about government funding until the GOP funds the entire government.
GOP:  We don't want to fund the entire government; THAT'S the issue.

GOP: We've passed bills to fund some parts of the government that we don't have an issue with.  Let's negotiate about the other parts.
Dems:  Nope. Meet 100% of our funding demands or nothing gets funded.
Obama:  Gonna veto them if they get to me.  Fund the entire government; then we'll negotiate about the funding.
GOP:  We don't want to fund the entire government; THAT'S the issue.


Currently proposed government funding levels are a direct result of Speaker John Boehner receiving "98%" of what he wanted. Current funding levels, therefore, are at Republican-desired levels.

The original Republican-passed spending bill did not change government funding levels; it served only to eliminate an existing law that they did not like, despite that law having been signed into law three years ago, surviving a Constitutional challenge and effectively surviving voter referendum when the President who championed it defeated a challenger who promised to repeal it.

Your argument is a lie and you are a liar for making it.
2013-10-14 10:29:20 AM  
1 votes:

itsaidwhat: Obama and his libtard sycophants are equally to blame by representing the do-nothing leaches of society.

I laughed when POTUS nazi'd the national parks and bank rolled his NPR media. What a joke to all of us that work for a living and don't have the time to waste gawking at a tree or a giant hole in the ground. And to the veterans regarding closed memorials - I don't need to stare at a monolith to be reminded of their sacrifice - I see that in everything that I am free and able to enjoy all around me. I and my freedom are not victim to any so-called shutdown.

When a "government shutdown" still leaves 83% of the (bottom feeding) public servants at work, then we have real problem with entitlements at the top and the bottom of society.

And to the foreigners afraid of our debt ceiling, you are welcome - to the financial shelter and stability our American enterprise has afforded you under your own years of tribunal unrest. Suck it up.


www.alltackle.com
This is good. Even sneaked in a Godwin. A bit forceful for my taste, but you've got raw talent kid.  Refine the presentation and you'll be thread shaitting in no time!
2013-10-14 10:21:25 AM  
1 votes:

Wasteland: MilesTeg: So why even have a debt ceiling if it is not going to be observed?
BTW Senator Obama voted not to increase it in 2006 when exact same situation came up.
No hypocrisy like liberal hypocrisy.


No ignorance like both-sides-are-bad ignorance.

Yeah, that was a hell of a long shutdown and near-default we had back in '06, wasn't it?  The world economy was just all a-flutter.


Listen, how many times do we have to tell you:

Both sides are equally at fault for this mess. Equally bad. Both sides.

Both sides are equally bad, and at fault, for this mess.

Also, vote Republican.
2013-10-14 10:13:58 AM  
1 votes:
itsaidwhat


0/0
2013-10-14 10:06:06 AM  
1 votes:

Weaver95: DubtodaIll: I'm for default not because I think it will do any immediate good but that it will cause global reckoning.  Something needs to happen to jolt this nation out of the decades long cycle of continuing to spend more money than we have and creating a level of debt that is difficult to fathom.  Sure, things have worked fine under this system for a while, but the longer we attempt this mode of economics the worse the situation becomes.  I would rather see we work to fix our situation by normal means however I think that's far more impossible than the "impossibility" of the US defaulting on its full credit.  This Congress is so dysfunctional that it really brings in to question the validity of the system.  And maybe by some stroke of luck that dysfunction will force a situation where we're actually forced to face the consequences of the decisions that have been made in the past.
    I really don't know where I was going with any of this, but while a default would be an catastrophic situation, it may be what needs to happen now to ensure a survivable future.

The sting survive and the weak perish, is that it?


DON'T

DON'T STAND

DON'T STAND SO CLOSE TO MD
2013-10-14 10:05:38 AM  
1 votes:

itsaidwhat: Obama and his libtard sycophants are equally to blame by representing the do-nothing leaches of society.


I see this a lot, so let's clear it up:
www.thenaturalhome.com
Leaching

www.leeches.biz
Leeches
2013-10-14 10:02:39 AM  
1 votes:

itsaidwhat: Obama and his libtard sycophants are equally to blame by representing the do-nothing leaches of society.

I laughed when POTUS nazi'd the national parks and bank rolled his NPR media. What a joke to all of us that work for a living and don't have the time to waste gawking at a tree or a giant hole in the ground. And to the veterans regarding closed memorials - I don't need to stare at a monolith to be reminded of their sacrifice - I see that in everything that I am free and able to enjoy all around me. I and my freedom are not victim to any so-called shutdown.

When a "government shutdown" still leaves 83% of the (bottom feeding) public servants at work, then we have real problem with entitlements at the top and the bottom of society.

And to the foreigners afraid of our debt ceiling, you are welcome - to the financial shelter and stability our American enterprise has afforded you under your own years of tribunal unrest. Suck it up.


oh, I love it! you can practically smell the foam
2013-10-14 09:59:20 AM  
1 votes:

itsaidwhat: Obama and his libtard sycophants are equally to blame by representing the do-nothing leaches of society.

I laughed when POTUS nazi'd the national parks and bank rolled his NPR media. What a joke to all of us that work for a living and don't have the time to waste gawking at a tree or a giant hole in the ground. And to the veterans regarding closed memorials - I don't need to stare at a monolith to be reminded of their sacrifice - I see that in everything that I am free and able to enjoy all around me. I and my freedom are not victim to any so-called shutdown.

When a "government shutdown" still leaves 83% of the (bottom feeding) public servants at work, then we have real problem with entitlements at the top and the bottom of society.

And to the foreigners afraid of our debt ceiling, you are welcome - to the financial shelter and stability our American enterprise has afforded you under your own years of tribunal unrest. Suck it up.


That you Ted?
2013-10-14 09:55:20 AM  
1 votes:

ghare: The GOP WANTS this to happen. It's what they have planned for, for years. This is what they want.


i.qkme.me
2013-10-14 09:53:21 AM  
1 votes:
New Babylon is falling. How do I know the US is the New Babylon?

Its all our politicians seem to be able to do there days.

/Please, try the fish
2013-10-14 09:53:16 AM  
1 votes:
Fark_Guy_Rob: ....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.

AHHAHAHHAAAAA you really think the Mitt Romneys of the world are going to raise your salary so it keeps pace with inflation?


HAHAHAHHAAAAAAAAHOHOHOHHEEEEHHEHEHHEHEEEEEEEHEHEHHOHOHHAAA
2013-10-14 09:37:52 AM  
1 votes:
I'm for default not because I think it will do any immediate good but that it will cause global reckoning.  Something needs to happen to jolt this nation out of the decades long cycle of continuing to spend more money than we have and creating a level of debt that is difficult to fathom.  Sure, things have worked fine under this system for a while, but the longer we attempt this mode of economics the worse the situation becomes.  I would rather see we work to fix our situation by normal means however I think that's far more impossible than the "impossibility" of the US defaulting on its full credit.  This Congress is so dysfunctional that it really brings in to question the validity of the system.  And maybe by some stroke of luck that dysfunction will force a situation where we're actually forced to face the consequences of the decisions that have been made in the past.
    I really don't know where I was going with any of this, but while a default would be an catastrophic situation, it may be what needs to happen now to ensure a survivable future.
2013-10-14 09:35:31 AM  
1 votes:
So we are in a perfect position to negotiate, then? Do as we say or we will tank the world economy!
2013-10-14 09:34:35 AM  
1 votes:

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 09:34:21 AM  
1 votes:

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 09:34:09 AM  
1 votes:

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 09:33:12 AM  
1 votes:

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 09:32:37 AM  
1 votes:

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 09:28:20 AM  
1 votes:

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 09:27:17 AM  
1 votes:

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 09:21:38 AM  
1 votes:
Phhhht. Who cares about a couple billion foreigners? We have 30 or so teabaggers who need their egos stroked.
2013-10-14 09:21:16 AM  
1 votes:

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.
 
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