Posted on 07/01/2011 5:09:35 PM PDT by The Magical Mischief Tour
They are coming for our 401K’s. It’s just a matter of time. Given the choice between our security and the continuation of the government we will get screwed every time.
This particular event will never be reported. Therefore, it won't have to be "explained".
And whatever happens on August 2 will be "the Republicans' fault".
That's where we are.
You are so spot on!
My freekin grandparents condemned SS.
My parents condemned Medicade.
Both of those generations of responsible thrfty investors, and always alloting for insurance got screwed .
I saw it.
What a JOKE.
Actually, I understand that about THIS event. I was asking about the upcoming event described in post # 17.
I don’t think Obama would apologize or make excuses. He thinks we deserve to be taken down a notch or three. There is the possibility that he would go on TV and say that it is all Allah’s will.
you’d almost think it’s july 1st
next thing you’ll know, things will be just horrible by mid august...
resulting in people screaming for ‘change’ by sept (09-(20)11)
gee... who coulda seen this coming...
And writing-off a terabuck is a lot cheaper than actually fighting a war.
Doesn't do much about their surplus of military-age males, though.
The way I read the chart, we only have 6.025 billion dollars left before we reach the debt limit.
Ruh-roh.
Strike Post #28.
We only have $ 25 million left before we reach the debt limit.
Total debt end of today was $ 14,293,975,000,000.
Statutory Debt Limit is $ 14,294,000,000,000.
The difference is only $ 25 million.
He won't have to. The MSM will do it for him.
They will blame the Republicans.
You can explain much of the stupidity, back*ssward policies, inexplicable actions of 'elected GOP officials' with one word: Cowardice. Almost all of them are cowards, and like crabs in a bucket, the cowards pull down anyone of their members who are climbing out of the bucket.
Why did the GOP establishment hate Reagan, Goldwater, Palin or any other true conservative? Why did Jon Huntsman (who? yeah I know) call on our side to be civil, when he has never said a word about civility to the vicious, hate-filled, hatred-inciting Democrats? In part, cowardice: 'don't hit me, I'm a good guy' is the Huntsman whinge.
I can see the GOP playing this as for the years the Dems. were in charge they failed to budget.
Spending without a budget bankrupted the country.
-——that Obama would withhold farm subsidy and food inspection payments-——
I rolled over his statement and your post over night and decided that this sort of action is what is needed. Packers and producers have protocols and continue to pack and produce and just ignore the fact the inspectors are gone. That is, we make do with less government.
If a company becomes suspect, sales will instantly dwindle.
In my experience, inspection in the main is prefunctionary. Protocols and procedures make it unnecessary on a constant basis.
Could you imagine telling the nation on the weekend of July 4th ...we’re broke?
We have one month to make the “late payment.” This would explain why they were thinking about working this weekend. They’ve got to come up with a way to make a double payment.
What If the U.S. Treasury Defaults?
Geithner warned of "a catastrophic economic impact" and said, "Default would cause a financial crisis potentially more severe than the crisis from which we are only now starting to recover."
Now suppose, Mr. Druckenmiller adds, that he's wrong. If the market implodes on day two of the technical default, Mr. Obama and Congress would be motivated to finally come to agreement. But he doesn't expect such market chaos. "My guess is that the bond market would rally as long as it believed the ultimate outcome was going to be genuine entitlement reform—that we wouldn't even have to find out about a meltdown because it wouldn't happen. And I have some history on my side here."
So did anyone holding treasury securities (or some class of them - notes, bonds, etc.) not get an interest payment?
They will TRY to blame the GOP, but if we get ahead of this issue and spread the word coast-to-coast, it won’t work. It’s called preemption in the internet age.
We need to begin publicly strategizing all possible scenarios, because I have no doubt that the GOP leadership and their staff, insulated inside the Beltway with the WaPo, will miss something critical.
Each company that has USDA inspectors pays for those inspectors by payments to the USDA. If the government decides not to supply those inspectors and divert the money, then why should the company pay?
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