Posted on 10/16/2015 6:43:29 AM PDT by SeekAndFind
BS...there are other ways...the following was sent to me today by my brother...but the message is clear on what we need to do:
These three, short sentences tell you a lot about the direction of our current government and cultural environment:
1.) We are advised NOT to judge ALL Muslims by the actions of a few lunatics, but we are encouraged to judge ALL gun owners by the actions of a few lunatics.
Funny how that works. And here’s another one worth considering.
2.) Seems we constantly hear about how Social Security is going to run out of money.
How come we never hear about welfare or food stamps running out of money? What’s interesting is the first group “worked for” their money, but the second didn’t.
Think about it..... Last but not least:
3.) Why are we cutting benefits for our veterans, no pay raises for our military and cutting our army to a level lower than before WWII, but we are not stopping payments to illegal aliens such as monthly payments for each child, money for housing, food stamps, free education including college and also the right to vote?
Are we missing something?
If not, pass this along.
You are still mixing apples and oranges here.
A sovereign state default and a BK are quite different in how they are adjudicated.
I suppose the biggest issue with a US default is that it's the US..If we go, we take most of western Europe and Japan with us, in addition to 90% of our banks and major financial houses. They all own our debt. This will spread like a wild fire only faster.
Overnight, the dollar would become worthless internationally as well as anything based on it or related to it, like credit cards, ATM's, and letters and lines of credit.
No company could make payroll, no bank will have any cash and credit will be useless.
It's nothing like a bankruptcy where the debtor is protected so that assets can be accounted for, and sold.
At some point, when the fires go out in every city and the bodies are long gone, someone will step in and claim the territory as a matter of possession, but it won't be organized and it won't be adjudicated.
The GM BK was a prepack, In any prepack, it's all worked out in advance and there are no particular rules or pecking order except what is agreed to prior to the BK. Since it was the government who stepped in with the interim financing and cash, they got to call the shots. Not the bondholders who apparently sat on their hands and did not see what happened coming.
They could have gotten together and saved GM but they did not move quick enough or dilly dallied, giving the government time to effect what was essentially a asset seizure. (done to protect down line support businesses and competitors, and the union) very different then what is going to happen when the US meets the end of it's road to ruin.
Great tagline material. :)
Bankruptcy is what I figure is going to be the way out. Maybe some kind of settlement but tha tis bankruptcy after a manner.
Don’t see any other way.
Which would mean the social security and medicare beneficiaries don’t get paid?
Either not paid or not paid as much.
We all become creditors to our own money. It has been squandered by politicians for their own benefit right under our noses and without penalty or recourse. The money is gone. They don’t have it.
I tell people all the time that if they intend to have a contract with teeth in it they had better be sure the contractor has enough money or ability to take a bite out of to satisfy the penalty. If that is impossible you need to find another contractor or recognize that the liability for failure is your own and manage accordingly.
Remember the GM “bankruptcy”, Obama rearranged the line.
You are still mixing apples and oranges here.
The point being that gm is an example where the rules were NOT followed and another line formed which should not have happened. Yet another example of no longer being a republic, a nation of laws.
Remember, bankruptcy laws are nothing more than an establishment of the order of the line for the marbles.
Again, I encourage you to research the USSR as a very recent example of what happens.
In some ways, I can only hope that our’s will happen the same as the USSR but ours will be the same and different. The “Invisible Hand” always speaks.
The first bankruptcies like USSR get away with a lot as protocol is established. The ones later get taken to the cleaners as creditors figure out what they missed. Saw that in the farm crises.
I Never said the it said it would be organized and abdicated and the debtor protected. I said the line will be formed and the marbles grabbed.
Remember we woke up in the morning, read in the newspaper that USSR was bankrupt, it happened that fast.................. (yes I know, it did but it didn’t)
You are still mixing apples and oranges here.
The point being that gm is an example where the rules were NOT followed and another line formed which should not have happened. Yet another example of no longer being a republic, a nation of laws.
Remember, bankruptcy laws are nothing more than an establishment of the order of the line for the marbles.
Again, I encourage you to research the USSR as a very recent example of what happens.
In some ways, I can only hope that our’s will happen the same as the USSR but ours will be the same and different. The “Invisible Hand” always speaks.
The first bankruptcies like USSR get away with a lot as protocol is established. The ones later get taken to the cleaners as creditors figure out what they missed. Saw that in the farm crises.
I Never said the it said it would be organized and abdicated and the debtor protected. I said the line will be formed and the marbles grabbed.
Remember we woke up in the morning, read in the newspaper that USSR was bankrupt, it happened that fast.................. (yes I know, it did but it didn’t)
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