What do you think will happen if the US defaults on its debt?
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
25 comments:
Obama is gonna wait until the last minute,, Make some kinda dealio, and then say HE fixed it to get re-elected?? Betcha Look at the Osama thing
This Post's question is in itself quite interesting and pertinent to the subject of the supposed "default".
Our Country has already defaulted on the debt. We cannot pay it or the interest payments to the Central Bank. Therefore we are in a process of default. We continuously take on more debt to pay the interest on the previous debt. We are totally subservient to our Debtors.
Who are they? That is the more revealing question. To Whom do we owe?
Finally the debt ceiling WILL be reaised. What the Congress and Puppet President are doing currently is the Theatre of Politics. The decision has already been made. The Actors now work out the details to "bring the people along" with the "plan" of the Central Bank. We will be told to "get ready" for increased interest rates on EVERYTHING because of the debt ceiling being raised.
Our Congress has the authority to debase our currency. They don't need a Central Bank to buy Treasuries. They can simply print the money themselves.
This is what President Lincoln did when he printed the "green backs" and then President Kennedy did as well. History has shown us what happens when the Puppets refuse to go along with the Central Bank.
Thank you
Well - for the americans and immigrants that are using their Independence Cards to buy crabs - they'll be able to contiue doing business as usual. The posting just a few days ago whereby a reader witnessed 7 of 11 transactions using independence cards to buy crabs is not an exageration as I have witnessed it many times myself.
In fact - Fat Boys has it on their Marquis - WELFARE CARDS ACCEPTED.
I really don't see it making much difference if the debt ceiling is not raised. The last time I saw this happen was when I worked at Wallops Island NASA Base. I was working for a private contractor and one day I was called in the office. I was informed that he Federal Government employees had to be temporarily furloughed and that I was to assume their responsibilities.
Within a week or two the debt ceiling was raised and then the federal workers all returned back to work.
I'll never forget what one of the Federal Workers said to me in my truck;
'If the Govenment wants to pay me for sitting home on my ass and watching TV all day doing nothing - then that's just fine with me'
You see - all of the Federal Workers that were temporaily furloughed were issued back-pay for the days they were layed off. They were actually paid for not working.
Within a month or two after that I tendered my resignation.
Bottom line - it was a misappropriation of taxpayers money to the taxpayers detriment - yet most of the elected taxpayers representatives really don't give a damn about the ordinary american citizen.
"Finally the debt ceiling WILL be reaised. What the Congress and Puppet President are doing currently is the Theatre of Politics. The decision has already been made. The Actors now work out the details to "bring the people along" with the "plan" of the Central Bank. We will be told to "get ready" for increased interest rates on EVERYTHING because of the debt ceiling being raised."
You're exactly right, 11:16. All that's going on between the Democrats and Republicans and between Congress and the President is just so much dramatic theater. In the eleventh hour, they will come to some agreement. For right now, each side is playing chicken. The Congress will not let us default, but they will exact quite a bit of giving in by the President.
It won't happen. Don't need to even think about it. Will never happen. Like Sarah Palin running for president. You guys ask some silly questions.
:o)
REVOLUTION!
Anon 1116 -
We have not ALREADY defaulted on our debt. That's a load of rationalistic nonsense.
While I support the GOP trying to negotiate REAL spending cuts, we cannot afford to NOT pay the interest on our debt.
Nothing. The government will not default-- it's just scare tactics (although I'm sure Obama and his comrades have some plans to make life tough for a while till they get their way).
What do you think will happen if the US defaults on its debt?
1. China will stop buying US treasuries.
2. Feds will raise interest rates to make-up the difference.
3. Maybe - just maybe - some major US departments will be shutdown - (i.e. US Dept. Of Agriculture, NASA)
Not a damn thing.
let er rip...... scare tactics aren't working with us. it is what it is and we NEED to get our house in order...... no pain / no gain..
Nothing, unfortunately. We can't pay our bills now, so sorry, but in essence we have defaulted. So it should be just like when a citizen can't pay sells off or reduces. He doesn't go ask to for more!
All the free loaders will go on as though nothing has happened. The rest of us dumb working people will have to work harder for less money and work longer because our pensions will suffer. I am truly embarrassed by the government. A bunch of monkeys could do a better job and wouldn't spend near as much money.
To Beezer
Fat Boys took-up the outdoor marquis as I said something to them about the 'Welfare Cards Accepted' slogun.
And you are absolutely right - I saw people using those orange independence cards to purchase crabs there to. I even saw a van at the drive-in window at Chick-Fil-A pull one out and used it for payment at their drive through window. They must be easy to get because just about anytime I go into a store like Wal-mart people are using them.
I was at food lionand the cashier said..."You dont wadnt to purchase anything you just want the cash"? She said yes and they gave it to her from the card.
I just dont understand where all this is coming from...From the cash she could purchase drugs etc etc....
I come to work every day most times 7 days a week and I see these people sitting on their porches or under a shade tree laughing at me.
if the government crashes maybe then these "poor" people will get a job.
the good ole usa will crumble and we will never be #1 in the world. the russians ,tailaban and we can't leave out the gooks from korea or china,japan. .we can thank our great country of useless leaders.we need leaders like stalin & hitler.
OMG- According to King Obama the world will cease to exist as we know it.
King Obama will than put his mark on your forehead with the number 666 so you can buy groceries + worship the other devils; Obama being King Devil.
Well let me tell you what. I went by "Fat Boys" yesterday and the line at the window was unbelievable. The sign about welfare cards was there. The majority of the crowd was african american. These are the facts.
I have come to the foregone conclusion that the US is now to far in debt to salvage the situation.
I saw the stats for last month - June - and even now our govenment spent 43 billion dollars more than it took-in. This has been going on for so long that sooner or later someone has to pull the plug.
I have also come to the conclusion that our present economic system here in the US is unsustainable. By that - I mean I believe it would be better for nation to split down the middle like North Korea and South Korea or like North Vietnam & South Vietnam or like East Germany and West Germany did. That way - one could choose to live in a Socialist culture or Free Enterprise economy. Right now - our entire Country has gone Socialistic - (except possibly Texas) - and you're seeing and experiencing the consequences.
5:19 you may have something there.
I think we are close to that point.
I really hope you guys move to Texas and then I hope your secession plans work out. . .really I do. . .because there are many times I wish we could just cut the South off completely for say six months or so. It would be quite a rude awakening for you nimrods to discover what socialism is and is not. Since they don't seem to understand where their SS, Medicare, Medicaid, SSI, Food Stamps, Unemployment Insurance, public schools, etc, come from, let's make it crystal clear, shall we?
>New York, New Jersey, New England, most of the northeast and California<
The South gets the redistribution of federal tax money because it seems least capable of helping itself out.
Furthermore,
Countries with typically high levels of government involvement in the economy, such as Sweden, Denmark and Canada, do not appear to have experienced stifled economic growth relative to countries where government involvement is more limited, like the US
many socialized governments provide critical support for business growth, including first class infrastructure built by the public sector, retraining of workers and public education systems that result in better-prepared workforces, comparative to the US. There are a lot of areas where the role of government is a benefit for the businesses in these countries.
The idea that they are socialists and condemned to living in these bread bin-style housing complexes is illusional. It's ideological slander. Fear mongering.
5:19
I agree - I've thought about the same thing - (separate geographical regions) - for the past several years. I truly believe your onto something. Trouble is - where has the Press been. You are starting to hear over the news about how socialism has taken over our Country - but its so entrenched into our society now - that there is more incentive not to work than there is to work.
Case-in-point - independence cards being used at Fat Boys Crabs.
To 8:55
You need to consider a move out of here and get your life together in Sweden, Denmark, or Canada.
It's the mentality of people like you that have made our Country a socialist state.
I'm fine with socialism. Why don't you move? You're the one who is convinced its somehow sinister. We ARE a socialist country . . .have been for a long time now. What do you people think social security is? Don't cash your check if you don't like socialism. Please, I don't want you contributing to the fall of the United States. There are even socialist parties. . .its far more common than you think. They have kegs, wet t-shirt contests, and all the medical mary jane you can smoke. You'll love it.
Hold on there dope smoking,tie dyed,socialist dude. Sorry we harshed your mellow bro.We just want you to have your own new world progressive country where everything is groovy. We will keep and restore the U.S.A. .Dont worry about how we pay for it.Worry about how you will.Peace out,dude.
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