Not raising debt ceiling = Armageddon.

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

  1. OBAMA
     
    #11     Jul 25, 2011
  2. Bob111

    Bob111

    obama...
    obama mama..как люблю я boney m obama mama..
     
    #12     Jul 25, 2011
  3. cloudy

    cloudy

    www.themadhedgefundtrader.com finally posted an article about state workers of CA. Imagine if the fed and the rest of the country became like CA with no oversight. Legistlators voted by massive union get out the vote. Arnold's proposition reforms voted down in 2008.:

    """""""""""""""""

    Money Down the Drain?
    Who was the top paid state employee in California last year? The governor? The chief justice of the Supreme Court? How about the leader of the Senate? Nope. It was a prison psychiatrist who took home an eye popping $838,706, most of it in overtime. I love it! The state drives people insane by sending them to jail, then tries to cure them with triple overtime. It is a wealth destruction mechanism that only a government could come up with.

    These are among the revelations uncovered when state controller, John Chang, listed the salaries of all 256,222 state workers on a government website. Only the names were missing. In fact, over 500 state workers earned more than $250,000 a year, vastly more than they could take in with private sector jobs. At least nine made more than $500,000, the top ten taking in $5.8 million.

    The data was made public after a huge outcry that followed the disclosure of the salaries of town officials in the small Los Angeles municipality, Bell, which topped $700,000. Those generous paydays resulted in criminal prosecutions. Maybe prosecutors should be casting a wider net?

    """""
     
    #13     Jul 25, 2011
  4. Larson

    Larson Guest


    They do seem to be preoccupied with the stock market. Until the bond market confidence scheme is exposed, expect the preoccupation to continue.
     
    #14     Jul 25, 2011
  5. So what are our options for the end game.

    Currency reset? WW3?

    Gold has worked for thousands of years why did we try to fix something that wasn't broken? or was it?

    The last generation of prosperity in the US has been at the expense of the rest of the world and for every action there is an opposite and equal reaction.
     
    #15     Jul 25, 2011
  6. Surprisingly low numbers for a state of that size.
     
    #16     Jul 25, 2011
  7. TGregg

    TGregg

    At least some things are obvious. The US will not default. . . well, not in the next ten years at least. Both major political US parties will increase spending and the debt will grow. There may be cycles of fortuitous economics such that revenue briefly grows more than deficits, but the very nature of having a bigger paycheck than expenditures will result in even more spending in these rare but wonderful occasions.

    Eventually we will be forced before the executioner's axe. Eventually, things will change, there is no question. If the looters win and productivity is taxed at ever increasing levels, the death spiral will be created.

    One wonders if in this case one will even shed a single tear for the misled.
     
    #17     Jul 25, 2011
  8. you are assuming your eyes will be still in place :D :D :D
     
    #18     Jul 25, 2011
  9. #19     Jul 25, 2011