Not raising debt ceiling = Armageddon.

Discussion in 'Economics' started by Rickshaw Man, Jul 25, 2011.

  1. What a load of crap. The market is doing fine. It's all a scam by the scamsters. Today Monday the indexes open down, now it's close to lunch and they are near the flatline.
  2. Markets create fundamentals not the other way around. They can also be backward looking instead of forward looking.
  3. Some say it will be armageddon. Some say no big deal. Whenever there are such divergent opinions the truth always lies in between.
  4. You'd think NOT raising the debt ceiling would be the best thing we could do right now... bring some fiscal responsibility into the picture... stop wasteful spending... stop borrowing money we have no intention of ever repaying... stop burdening young (and even unborn) citizens with debt so that greedy, selfish Odumbo/Dems can buy votes for the next election... stop the destruction of the $USD.... stop the ruination of the United States of America.

    :mad: :mad:
  5. Taenia saginata
  6. Well, I'd agree for the most part BUT the sad fact is that the whole thing collapses unless they continue to create more debt. The private sector crapped out in 2007-08 and lo and behold the public sector stepped in to fill the void and to create this wonderous artificial reality of sorts.

    We are already at the parabolic stage however, so it's either go into the ultra-surreal madness or it all falls apart due to its own weight.
  7. benwm


    Milton Friedman said the best combination for the US was not a Republican House & Senate but a Senate/House split between Republicans/Democrats. That way, spending and therefore taxes were both reined in by the resulting logjam. If either of the two main parties controlled both the House and Senate you would always see too much spending, and therefore higher taxes = bad for economy.

    Not raising the debt ceiling may be no bad thing PROVIDED THE US DOES NOT DEFAULT ON ITS DEBTS.

    If it does default... :eek:
  8. If we do not reign-in spending, it IS ultimately financial Armageddon for the US and nearly all of our citizens.

    If we reign-in spending, some of the parasite class who have been given and were promised much too much... more than can be delivered... will see their government largess reduced. Of course, none of the parasites want that. But what then don't understand is that unless they accept less, they will eventually get NOTHING!

    Seems most have forgotten the tale about "The Goose That Laid The Golden Egg".
  9. 377OHMS


    Then let it all collapse. Borrowing from the chinese in order to make war on the arabs/islamists doesn't seem sustainable.

    The lawmakers who enacted the debt limit obviously did not anticipate any calamity being caused by running into that limit did they?
  10. Frankly, I hope we DO default.

    As our debt service is covered about 12:1 by tax receipts, any default would be INTENTIONAL AND POLITICAL. The turmoil would focus the world's attention to just what greedy and irresponsible bastards Odumbo and the Dems are.

    America NEEDS (1) Stop the deficits.. NOW!... DO NOT RAISE THE DEBT CEILING, and (2) Balanced Budget Amendment.
    #10     Jul 25, 2011