The government shutdown talk and the debt ceiling talk has got me wondering.

[vontar]

The government shutdown talk and the debt ceiling talk has got me wondering.  If we are 17 Trillion in debt, who out there is still loaning us money any ways?

 

Western Sky? Other Native American Tribal lenders you see on TV?

 

Talk of funding the government to Jan 15, sounds more like one of those Check in to Cash pay day advances.

[Guest 6.8 AR]

The Treasury has been printing and rolling over debt. I don't know, but I suspect very few countries are buying our securities.

 

Shell game.

[vontar]

I was thinking ponzi scheme, but shell game certainly fits as well.

[Flyboy]

Wish I could raise my debt limit, I need mo 22LR.

Since all my credit cards are maxed out, and I'm broke, can I get a EBT card.

If so ill trade my 50.00 EBT card for a six pack and a 50 round box of eagle 22lr, I'll throw in mom SS check if there CCI.

FlyBoy

[Oh Shoot]

There's an old saying:

 

When you owe the bank a thousand dollars, you're worried.

 

When you owe the bank a million dollars, the bank is worried.

 

The world is the bank. We owe it the trillions. The world keeps investing because it knows if we fold, most everything folds. Same as you feel about your money protected by the FDIC. If the FDIC fails, you won't be much if any better off having lots of US dollars or not having any US dollars.

 

However, the world will keep demanding higher interest rates over time to keep playing, the more risk it perceives, the higher the rate will be needed to make them play. It's a Ponzi scheme, based on nothing else than faith and track record. Which works until it doesn't.

 

OPEC could demand payment in something other than USD tomorrow. Game would likely change immediately, perhaps catastrophically. Same if interest rate on US bonds has to double quickly to sell enough to keep going.

 

China is lately strongly suggesting that the world needs a different base currency than the USD. Fitch is warning may downgrade US credit rating. Again.

 

Interesting times, perhaps, to say the least.

 

- OS

Edited October 16, 2013 by Oh Shoot

[Flyboy]

China is already pushing another currency, if they get a buyer, can you say we're screwed!!!!
Drudge says their talking with Russia and Middle East about a exchange that leaves us hanging. This EBT thing will be 150 fold.

Can you say 50 buck milk great deal!!!!!'

FlyBoy

[TMF]

There's an old saying:

When you owe the bank a thousand dollars, you're worried.

When you owe the bank a million dollars, the bank is worried.

The world is the bank. We owe it the trillions. The world keeps investing because it knows if we fold, most everything folds. Same as you feel about your money protected by the FDIC. If the FDIC fails, you won't be much if any better off having lots of US dollars or not having any US dollars.

However, the world will keep demanding higher interest rates over time to keep playing, the more risk it perceives, the higher the rate will be needed to make them play. It's a Ponzi scheme, based on nothing else than faith and track record. Which works until it doesn't.

OPEC could demand payment in something other than USD tomorrow. Game would likely change immediately, perhaps catastrophically. Same if interest rate on US bonds has to double quickly to sell enough to keep going.

China is lately strongly suggesting that the world needs a different base currency than the USD. Fitch is warning may downgrade US credit rating. Again.

Interesting times, perhaps, to say the least.

- OS

I'm once again depressed after reading your posts.

[Guest TankerHC]

A lot of people point to China. Not sure if it's changed since last year but Japan had held nearly as much of our debt as China. Even India and the European Union hold a huge chunk as well as several other countries. We go down they all go down.

Sent from my SPH-L720 using Tapatalk 2

[Guest 6.8 AR]

The trouble with China or anyone demanding a new base
currency is that they would fall with us and everyone. They
can say or do whatever they want. It won't change what
happens. China would hurt like everyone else. Probably
implode.

[Guest Lowbuster]

Milk may go to 50 a gallon after the blizzard killing all those cows.

[frankmako]

the fools in washington need to go.  both sides.  i got to pay my bill and so should them.  i can not run my card up so high without having the money to cover them. why should they?  if we stop giving free things/money to the dead beats/low information voters and stop the  "mickey mouse" spending we would not be in these problems.  it has started and it is going to get bad for us normal working guys.  more of your hard earn money will be taken away from us and given to the low information voters. when the money runs out the entitlement bunch will hit the streets.  it will not be good.  the entitlement group feels that we owe them everything. 

[DaveTN]

the fools in washington need to go.  both sides.

And then what? The people that could fix this problem couldn’t get elected. The majority of voters wouldn’t like their ideas, many countries wouldn’t, and even many of the people on this forum wouldn’t.

 

Almost every well known economist and financial expert has said our economy cannot recover until our manufacturing base recovers. That can’t happen without the support of both the people and the government.

[DaveS]

 

 

Almost every well known economist and financial expert has said our economy cannot recover until our manufacturing base recovers.

And this will not happen, until we stop lining the car lots and store shelves with foreign cars and goods. Clarksville lost a couple of companies that moved overseas for cheaper labor. Who's to blame?

 

DaveS

[Guest TankerHC]

EDIT: Dammitall. Wrong thread mods can you please move this to the ebt thread. I'm on a cell and cut and paste is a PITA. An interesting thing. I know several states have started requiring drug tests to qualify for assistance., like Florida. I hear daily from family and friends pretty much everything Political and/or crazy thing that comes out of Maryland. Maryland being one of the most liberal States and the reason I can't stand setting food across that border. If it were not for the History I wouldn't go back there at all. Most of the state's I have heard that started requiring drug tests were hailed for being conservative and trying to reign in fraud. This discussion came up last night and a couple of family members (very conservative people) mentioned that a mutual aquantance who lives in Maryland and does not need the money applied for cash assistance. In Maryland you can apply for emergency cash assistance and because it takes time for ebt to get on your card they hand you cash. This particular individual has had about 40,000 emergencies over the years. Went a week ago for another one and got a surprise, in order to receive assistance they required a swab for an instant drug test. If they failed, no assistance. No swab and no assistance. The person refused the swab because they knew they would fail and apparently made a spectacle of themselves in the office. The reason everyone knows (except me) is because this individual also posted about it on Facebook. Note also that this individual owns, owns not rents, a house worth around 300,000, a late model car, and has digital cable and broadband Internet. I'm not a big Dave Ramsey fan but, mostly because I'm not a big fan of rice and beans, but would be willing to bet he could find 4 ways right off the bat to help this individual "not need" public assistance. The individuals actions are not what surprise me, what does surprise me is that what has to be the 3rd most liberal state in the union, has started doing drug tests to qualify and it went unnoticed, even by the people playing the system. Sent from my SPH-L720 using Tapatalk 2 Edited October 16, 2013 by TankerHC

[Guest 6.8 AR]

the fools in washington need to go.  both sides.  i got to pay my bill and so should them.  i can not run my card up so high without having the money to cover them. why should they?  if we stop giving free things/money to the dead beats/low information voters and stop the  "mickey mouse" spending we would not be in these problems.  it has started and it is going to get bad for us normal working guys.  more of your hard earn money will be taken away from us and given to the low information voters. when the money runs out the entitlement bunch will hit the streets.  it will not be good.  the entitlement group feels that we owe them everything. 

You should know that they=we, don't you? We put them there and we will be the ones paying all that debt back. Government

is only an entity, the Frankenstein version we allowed to exist. We certainly need to have a huge lynching before we pay it,

though. The entitlement group will die off when the problem comes to a head. They lost their right to exist, along with those

who came up with the scheme.The ones who can survive will do just that. Charities will once again be of value. No more

partnering with government, either. Crony capitalists are thieves, just like the politicians prove themselves to be.

[Flyboy]

And this will not happen, until we stop lining the car lots and store shelves with foreign cars and goods. Clarksville lost a couple of companies that moved overseas for cheaper labor. Who's to blame?

 

DaveS

Its not the labor cost, its the Taxes, EPA rules, Lawyers and Red tape that has them moving overseas!!!!!

 

The shipping cost is more then the labor.

 

Fly Boy

[Guest Lester Weevils]

As best I can tell, annuities typically play the market with "new money" and sock the gains into treasuries and other bonds. So basically people retirement saving by buying into annuities, or buy an annuity with their stack at retirement, are basically giving the wall street weasels a cut of their stack, and then giving away whatever is left to the government, hoping the government will pay em back later.

 

The number of people who live on annuities, and the number of ways this can go wrong, are too large to sanely consider.

[Spiffy]

The Treasury has been printing and rolling over debt. I don't know, but I suspect very few countries are buying our securities.

 

Shell game.

 

Sadly the GOV way of making more money isn't to work a few extra days for the Overtime pay.

[Caster]

Makes one wish they could find a xenophobic survivalist cult on a few thousand acres in the middle of nowhere headed by someone who is NOT a fruitcake.

God knows its time for a new way of life. This current thing we got going sucks donkey.

[TMF]

[quote name="Caster" post="1049347" timestamp="1381946191"] Makes one wish they could find a xenophobic survivalist cult on a few thousand acres in the middle of nowhere headed by someone who is NOT a fruitcake. [/quote] Sorry, it's a package deal. Gotta know how to kiss snakes and not touch yourself. Oh yeah, all laws are determined by John Lithgow's character in Footloose. Edited October 16, 2013 by TMF

[Caster]

Well dang.
I guess a militant and heavily armed sect of Ahmish is a pipe dream too, huh?

Why does a perfect way of life always attract some narcissistic Dbag vying for power? LOL!




...now, can I derail a discussion topic or what! Edited October 16, 2013 by Caster