Global Nightmare: America on the brink of....

How bout the treasury.

http://www.treasurydirect.gov/NP/NPGateway

Will you accept the numbers they provide? Its all there in black and white. The debt when Bush started. The debt when The democrats took over both houses of congress. The debt when Bush left office. The debt today. You can blame Bush all you like, but the middle of the "worst financial crisis since the great depression" was probably not exactly the best time to spend a trillion and a half on a brand new entitlement, no matter how you try and dress it up. 

Regarding the rest of your post, it seems I saw it presented almost word for word on Maddow last night. You need to find original material man. 

 

I don't watch CNN.  I didn't know who Maddow is for a long time till recently.  You seem to pay close attention to her broadcasts.  Are you two friends??? 

 

Are you referring to the Stimulus Spending that was financed at ~3% that put an end to the Republican Recession in June of 09? - Well spent.

Far better spent here in our own country than the Republicans spending trillions of dollars in Iraqi with no benefit whatsoever for our own country and a predictable recession as a finally to their folly.

And yes the past Administration is held to blame when using concocted WMD to start a needless war.

 

Shes Hawt!! Actually, I almost always dwell on Maddow, O'Donnell, and Mathews a bit longer than I spend on Hannity, though Red Eye is the only show I can watch from beginning to end. O'Reilly is entirely unwatchable IMO. 

 

 

America loses its AAA credit rating which it had since 1917
Standard & Poor's has downgraded US Credit Rating to AA+ just few hours ago.

What does this mean?

a) US Treasury debt no longer deserved to be considered among the safest investments in the world.

b) Higher Interest Rates

c) Major equities sell off expected in World Markets

d) USD will fall further

e) A massive blow to the credibility of the Obama administration

 

f) Treasury now trying to sell new bond issuances into toxic market. Expect Fed to initiate QE3 stat.

g) Precious metals to the moon

 

They cannot do another QE, that was part of the debt deal. Their hands are tied now. Thank God.

 

Greenspan himself has openly admitted that QE2 was completely ineffective and unused. He said that, if not for the psychological effect, the nearly 100% unused QE2 cash could quite literally be removed from the balance sheets and have no impact on our economy.

To quote Dr. Mccoy, "He's dead Jim." 

 

Nice touch with the Bones reference...

 

Those who favour increasing the debt are just playing the short-term game. It may help for a short while, but we all know that what goes up must come down. In the long run they're just making the crash harder.

If you think those who oppose the increase in debt are asking for a default, then the question is whether you think it would be better to fail now with the amount of debt currently held, or later when it's much higher.

In the meantime: buy guns and ammunition, food and water and of course, silver and gold. Take care of your family and be prepared.

 

Of course I don't agree with the last bit but totally agree the longer we leave the bubble the more chance there is of that as the final conclusion. The more people lose, the angrier they will be.

 

If you were living in a bad neighbourhood and the economy and the US financial state itself was about to fail, you'd think differently about weaponry, I'm sure. Take three days without food, people will be ramming down your door for what you have. Desperate people do very desperate things.

 

That reminds me of what happens when you pump too much air in the tire.. It goes boom!!

Interesting thinking.. This is something that worries me about India as well...

 

The Fed was not a party to any negotiations between Congress and the White House. The Fed recently announced no QE for now, but left the door open.

 

BRUm: In the meantime: buy guns and ammunition, food and water and of course, silver and gold. Take care of your family and be prepared.


It is interesting the suggestions from those who criticize the Agencies responsible for managing the economy from implementing the necessary remedies used to solve their problems.

And what could be more banal than QE3????

 

The fed never fully used QE2 and admitted that QE1 was probably responsible for exacerbating the current problems. Without a QE2, its ckinda hard to expect a QE3.

 

Breeze, I don't understand your use of my words there. Are you criticising or supporting them?

 

BRUm: In the meantime: buy guns and ammunition, food and water and of course, silver and gold. Take care of your family and be prepared.


You seem opposed to the measures and means that are used to solve problems, then become defensive by an assertion of inevitability they are insolvable...

 

So you're criticising them then, that would have sufficed Mr. Mouthful.

I'm opposed to measures that not only have shown no evidence of solving any long term problems but in fact exacerbate them. Cease being the stereotypical image of an American that the rest of the world holds and look outside of your own country. The measures you're proposing have been tried and tested in other nations that have little or no resistance from groups such as the "Tea Party" and they haven't helped at all.

Like I've written before: the government here can do as it wishes when it comes to the economy. They've "bailed" out the banks, increased taxation, printed more money (QE) and borrowed from internationalist organisations. Inflation is rampant causing food prices to rocket and the GBP to devalue and tax is strangling our businesses causing further fuel and general price increases, the standard of living to slump and unemployment.

You then blame me for recommending my fellow man be prepared? What on earth are you smoking?

This is what you've deduced from my "assertions" that we should all be prepared for the future, regardless of the outcome? This has utterly nothing to do with political ideology. I see what's going on around me - which you appear to find difficulty doing - and give caution.

I never thought I'd find someone opposed to this rather apolitical notion, however I've been proven wrong. Would you rather I encourage people to take out loans, invest in the stock market and worthless fiat money, depend solely on supermarkets for necessities and have unconditional faith in the government? Why do you hate individual responsibility and family safety so much? It's embarrassing how two dimensional your thinking is, no wonder you're a joke in these forums.

 

Speaking for yourself there mate? Why do you feel the need to put people down with every 2nd post? I really hope you're not after anyone's respect because you will never find it that way.