T1B

KC Scott wrote:According to you "we've crashed and burned"

According to you "future generations are fucked"

So here's a simple question - Do you think the US is going to default on the debt?

Very simple, even for you

a Yes or No will suffice

KC Scott wrote:Duhron let me simple it down for you

When you're typically broke at the end of the month, you'll borrow money from your kids and won't worry if you don't pay it back

However if you miss the payments on your trailer, you know the bankers will come and get it so you know you have to pay them

Does that make it easier for you?

KC Scott wrote:
The balance owed inside the US - pensions, nutual funds, banks, individuals, etc. will be paid in my opinion as will all foreign debt

KC Scott wrote:If there wasn't full faith that it would be repaid - as mentioned multiple times - that money would be going somewhere else

Scrot wrote:So here's a simple question - Do you think the US is going to default on the debt?

Scrot wrote:default means NOT paying your debt

Scrot wrote:he's making a prediction for the future - not commenting on the present

88 wrote:The US will simply print a shit-pile more bogus dollars before it will do that

GAO wrote:cash has been available to redeem them upon maturity or demand.

Scrot wrote:The money supply has increaed but inflation has not (sorry tard)

Scrot wrote:Since 2009 other than food and energy we have been fighting deflation of all asset classes

KC Scott wrote:

poptart wrote:Yes.
Huge.

The Dow is up a whole .07%.

So I was off by a day Tard

88 wrote:Bernanke and the Fed just may you his beyotch.

88 wrote:I am reading a book published in 2009 by Neil Strauss entitled Emergency This book will save your life. It was recommended to me by a friend, and is entertaining and thought provoking. I recommend it to anyone who thinks they are free and safe. The best part is that it deals with a sobering subject in a very humorous way. If it were a red wine, Parker would give it 94 points.

Felix wrote:hey good news, according to his 2011 tax return, Mitt paid 21% in taxes in 2011 on taxable earnings of just over 15 million. Nice gig.....I wonder what his deduction for his dressage horses totaled....at least now I know he's paying his fair share.....

mvscal wrote:

KC Scott wrote:If there wasn't full faith that it would be repaid - as mentioned multiple times - that money would be going somewhere else

Not quite full faith anymore or is there something in reference to the downgrading of our credit rating that you still fail to comprehend? Let me know. I would rather light a candle than curse your darkness.

KC Scott wrote: 60% is blue chip corp bonds

KC Scott wrote:

88 wrote: No. The US will simply print a shit-pile more bogus dollars before it will do that. But the end result is the same. Bond holders would be fucked because, instead of getting paid in dollars that have the anticipated value when the bet was made, they will get paid in worthless dollars. And everything that is valued relative to the dollar, such as all of your investments, will likewise be devalued when the value of the dollar declines. This has happened many times throughout history. Why would the US be any different?

It's happened throughout history - but not to US

Your Weimar republic scenario gets tossed out a lot by the Teabaggers - to bad most of them don't have any clue as to the real context of why that happened. First and foremost we aren't paying war reparations or looking to absolve our foreign debt.

If you have a crystal ball and see that as the only end game scenario - I don't share your pessimism. I also don't think the Fed will continue to print dollars. Bernanke knows he has one bullet left with QE3 and that’s it. I also don't expect to see that deployed this year.

We've had recessions you can remember in 81, 90 and 2001 - somehow we came out of all of those. All were proceeded by periods of 8-10 years of sustained growth. I keep hearing "it's different this time" - It's the same refrain used by all doomsayers. I heard it in 2009 when the market collapsed - that's as close to financial Armageddon as you or I will see in our lifetimes. The economists I read project end of this recession by mid 2013 - that's when you should see significant improvement in employment picture. I'm already seeing some signs of it now. My oldest just got a job with a company manufacturing fire suppression systems that's experiencing substantial growth right now. It also means you won't be paying for his Obamacare :)

As for reducing the debt - We are going to have to cut spending and go after the entitlement programs - there's no question about that. We'll also going to see tax increases - though I'm not sure what form they will take.

Finally we need a strong Pro Trade agenda to be front and center for next administration. This is critical for getting us back on track. I've mentioned before we are the second largest producer of LNG in the world. Whichever party wins in November needs to push this - but I've not heard either one give it more than cursory lip service in those shale states where they need votes. Another overlooked "commodity" is technology and it's impact to move the needle. And if you think that's an exaggeration read this note from JP Morgan which says the iphone 5 could add .25% to .5% to the fourth quarter GDP all by itself

More than anything we need leadership and communication. The teabaggers have succeeded in in turning this country into a battleground based on biblical literalism and the inane notion that any compromise is weakness. They've turned people like poptard and duhron, who at one time may have been rational individuals, into raging Xenophobes with a pathological hatred of government. Neither of the candidates strikes me as being able to unify this country.

If we don't get that leadership somewhere, you may very well get that apocalypse you’re forecasting

Jsc810 wrote:mvscal, you're grasping at straws, and you know it.

Even George Will admitted it was a great speech. Enjoy reading about it tomorrow, you will see many overwhelmingly positive reviews.