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Wednesday, November 7, 2012

Taking Bets

‎4 more years of no budget and Fox just announced the debt ceiling is going to be raised again. I'm taking bets............how long before our economic system collapses?

9 comments:

  1. Were you able to vote, Lisa? I've been wondering about voting in the New York Metropolitan area, Long Island and NJ. How did it go?

    I imagine lots of people were "disenfranchised" this time around. Of course most of them would have voted for King Barack.

    To tell the truth I was hoping the weather might suppress the NYC vote and give the state to Romney, but no such luck.

    At the rate we're going we should be broke before Easter, but the Fed will just keep printing more counterfeit money, and our currency will just keep going down in value till one day you'll go to the market and find that a hundred dollar bill will no longer buy you a modest dinner.

    We're being GROUND DOWN. I think it's DELIBERATE. I believe it's The Clowar- Piven Strategy put into action.

    NOBODY could be as stupid as King Barack pretends to be. I believe that he, the Clintons, and BOTH Bushes have all been working together to establish The New World Order where the USA wil lose her soeverignty after being forced into poverty. The plan is have us ruled by the UN.

    Sound far-fetched?

    Think about it. What ELSE could possibly explain the insanity of governmental policy since Ronald Reagan left office?

    Hope all your pet friends weathered the storm well?

    ~ FreeThinke

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    1. I had no problem voting as we are pretty far east f the major devastation. Doesn't sound far fetched at all FT. I had a strange intuition that the Bush's were in on it too. I found it strange that GW made the announcement about the crisis just 2 months before the election to make it look good. I don't trust any of them. Ho dare they use people as experiments.

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  2. Lisa, tough question. My basic thought is this. Bernanke and Paulson in 2008 literally printed up 30+ trillion $ to give to banks foreign and domestic so they could have a do-over.

    The physical process was exchanging perfectly good US Treasuries for their worthless monopoly mortgage derivative paper MBS(Mortgage Backed Securities, where much of it was not tied to physical real estate) It will always be worthless.

    So, printing up 16 trillion to pay off the debt doesn't seem like such a monumental task. The problem with doing that is you devalue American $ and other countries start getting angry when they buy treasuries for say 80$ that will be worth 100 $ in 10 years but that 100$ will be worth less than 80 with the devaluation of the $. Hope that makes sense.

    In any case, 16 trillion is a huge number but it isn't that big a deal actually when compared to things like giving banks 30+ trillion for Nothing.

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  3. Also, Greece has been defaulting on their debt for a long time off and on, and their folks are retiring at 50, many avoid paying tax, and yet they're still in business.

    So with that as guide, the USA will be around a good long time yet, but the deeper it slides the worse things will get for us sheep.

    They're rioting in Greece and have been over the potential for the retirement age to be raised and for useless bastids to be laid off from nothing government jobs etc.

    Given the USA is probably the last country (maybe include Germany) who has much of anything going for it in terms of paying it's own way, it will be a while before it actually Explodes.

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    1. well that is comforting to hear kid. Thank you. I just think if dems keep getting re-elected they will continue the same path as Greece. Thank goodness we still have a majority in Congress. It's something.

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  4. The libs got what they asked for, I hope they choke on it.

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    1. yep and they will blame Nixon,Regan and Bush but not FDR, Woodrow Wilson or King Obama.

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  5. It won't be long I can guarantee that.

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