increase the $16.7 trillion debt ceiling.
If the debt ceiling isn’t raised, the country could face a financial crisis.
we can't pay what we owe so we are going to spend more
i wonder how things got so fucked up in the first place
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The True Economic Horror of USA
- Thread starter DrFever
- Start date
darkshadow
Member
increase the $16.7 trillion debt ceiling.
If the debt ceiling isn’t raised, the country could face a financial crisis.
we can't pay what we owe so we are going to spend more
i wonder how things got so fucked up in the first place
It's the stupid people's logic, don't try understanding it.
Example : They reach their credit card limit and then the bank sends them a letter.
Bank : "We will raise your limit by 500%, all you have to do is sign this paper"
Idiot : OMG 500%, I'll pay even less monthly now!
5 months later..
Bank : "You have reached your credit card limit, sign this paper to increase it by 500% again"
Idiot : I could really use the money.
5 months later..
Idiot : I can't pay the bill no more, it's too damn high! *Gameover*
Well that's a different story though, that's somebody willingly selling real estate. It's not like they can just come into our country and say, "You owe us money, we take you land, you go now". If we are foolish enough to sell off all our land to China well then we deserve whatever comes of it. As far as the debt goes we owe far more then a trillion to a number of different groups besides China and when it comes to settling debt the largest amount of that debt gets settled first not one of the least.
That's why some politicians want to get rid of social security and medicare. Much more then what is owed China was stolen from the Social Security trust fund. If they could do away with Social Security and Medicare that's about 5 to 7 trillion they could shave off the debt overnight.
Hemp if you don;t pay your mortgage do they not come and seize your house ???? same goes for foriegn debt USA secures land in turn tells foriegn lenders there not mining , or drilling for oil on it so in turn YES if USA was to default China could very well take cities land or what ever they like
S
SooperSmurph
There's still oil underneath NJ, sell them SoCal instead, pumped that dry years ago
This blistered my eyeballs : http://www.alternet.org/economy/larry-summers-and-secret-end-game-memo
Greg Palast is the author. I saw it on Alternet, but it looks as if they are crediting it to something called Vice magazine . Seemed on topic.
Greg Palast is the author. I saw it on Alternet, but it looks as if they are crediting it to something called Vice magazine . Seemed on topic.
Nobody liked this? I will post it up again to show the real reason the USA is having money problems. We have a traitor in the white house.
No it doesn't work like that and your comparison isn't correct because in a bank foreclosure typical there is just one entity that the mortgage is owed to. With the National debt there are many entities with claim to it. So it would be like a home with a primary mortgage and then multiple secondary mortgages. When a home is foreclosed on and there is a primary and secondary the primary gets paid in full first, the secondary gets paid what's left and if there is not enough to pay off the secondary then the person owing the debt still owes the rest to the secondary or the secondary just eats the loss which is usually the case because at that point the person owing usually doesn't have anything of value left. The only entity that has priority over the primary is the government. If you go into foreclosure with tax debt then Uncle Sam gets his first, then the primary and then the secondary.
Now armed with that knowledge go back and look at that chart I posted again. You'll see that there are quite a few people ahead of China on the list of people we owe and the vast majority of those people are ourselves.
Forget everything you think you know about the debt and our govt. The FED/IMF/NWO has been systematically destroying all financial markets that they control as a prelude to WW3. WHy? It's not oil, although who controls the oil as well as prevents free-energy, controls the world. The real reason IMHO, is to bail out the banksters derivatives debacle (ultimate ponzi scheme).
BRICS is the international response to these crazy mofos and the fiat fed reserve dollar
Let's all hope (I hate the word hope, as it implies no action on the hoper's part) that BRICS is strong enough to lesson the financial blow, which MIGHT prevent war
BRICS is the international response to these crazy mofos and the fiat fed reserve dollar
Let's all hope (I hate the word hope, as it implies no action on the hoper's part) that BRICS is strong enough to lesson the financial blow, which MIGHT prevent war
A
al frey
I say shoot the bastard and his entire cabinet of haters...fucker is selling down the river...
So you're saying W and Clinton, and Regan and Bush Sr weren't traitors? Wake the fuck up!
WHen did I say that? Is that justification in your eyes?
S
SooperSmurph
W was more of a joke than a traitor, imo.
"Gobble gobble..."
This was the idiot destroying our freedoms?
Nothing funny about Obama, just lots of raids on mmj centers and the half remembered childhood taunt, "Hey Barracka Obama my Cocka Yo Momma!"
"Gobble gobble..."
This was the idiot destroying our freedoms?
Nothing funny about Obama, just lots of raids on mmj centers and the half remembered childhood taunt, "Hey Barracka Obama my Cocka Yo Momma!"
You know..you know....ching go betta wit choke-a-chola. 
Did any body have trouble reading/comprehending the op? The op kept referring to Oct. and Sep. stats, then I had to scroll up a couple times to look at the date of the posting again. But it was only written in Aug.... I think there is a point but I get thrown by stats that are inaccurate and meaningless calling the entire point being made into question. I guess you were referring to last years stats?
Granted, it may have been addressed already. I wasn't about to read all the huge walls of text, I kinda like my being able to see. That would blind me.
Did any body have trouble reading/comprehending the op? The op kept referring to Oct. and Sep. stats, then I had to scroll up a couple times to look at the date of the posting again. But it was only written in Aug.... I think there is a point but I get thrown by stats that are inaccurate and meaningless calling the entire point being made into question. I guess you were referring to last years stats?
Granted, it may have been addressed already. I wasn't about to read all the huge walls of text, I kinda like my being able to see. That would blind me.
^ no they couldnt. have you been to america? have you talked to Americans? do you know our mentality? Do you know the US government mentality. If China ever tried to take a U.S. territory there would be a war. It may not even be government initiated, but by god there would be a war. You would see me shooting Chinese people in the face for sure, and I am the least crazy of southerners.
http://www.cnbc.com/id/101005964?__source=yahoo|finance|headline|headline|story&par=yahoo&doc=101005964|Marc%20Faber%27s%20three%20reason
Marc Faber: Three reasons a plunge is coming
Text Size
Published: Wednesday, 4 Sep 2013 | 7:00 AM ET DeAngelis and the "Futures Now" traders.
If you want to hear a rosy view on the market, you'd better not listen to Marc Faber.
The editor and publisher of the Gloom, Boom & Doom Report has long held that a correction was coming—and even though that thesis has not exactly played out this year, he's standing by it.
"In my view, we'll go back to the lows in November 2012—around 1,343" in the S&P 500, Faber said. Overall, he considers U.S. equities a "better sell than a buy."
On Tuesday's "Futures Now," he provided three three main reasons for his bearish view.
Reason one: The U.S. will follow emerging markets down
It hasn't been an easy summer for emerging markets. In the period of a month and a half, the iShares MSCI Emerging Markets ETF (which tracks emerging markets' large- and mid-cap stocks) lost nearly 20 percent of its value and has hardly bounced back from the lows.
That has made the U.S. market an outperformer, but Faber believes it cannot last. In fact, he said, U.S. equities could be hurt by their relative costliness.
"When emerging markets go down and the S&P goes up, the asset allocators say, 'Do I want to buy the S&P near a high, or do I venture back into emerging economies that are down 50 percent from their highs, like India or Brazil and so forth?' So you understand that the pool of money can flow back into emerging markets," Faber said.
Jonathan Fickies | Bloomberg | Getty Images
Marc Faber
Reason two: The Middle East will become a "disaster"
The stock market has lately been hurt by the concerns about U.S. military action against Syria. In fact, the market lost half of its gains on Tuesday when House Speaker John Boehner (R.-Ohio) said that he would support President Barack Obama's plan to strike Syria. But Faber believes we haven't seen anything yet.
"The Middle East is a powder keg, and it will go up in flames because the Western imperialistic powers, they still meddle into the local affairs," Faber said. "It's going to be a disaster. And it's going to strike from Syria and Egypt into Saudi Arabia, into the Emirates eventually, and so forth and so on, and you're going to have a huge mess."
(Read more: Syria continues to be your reason to buy oil)
Reason three: Interest rates have become a tailwind
Before Syria became a concern for the market, the focus was clearly on interest rates. Though Fed easing has kept rates low by historical metrics, "the interest rate has doubled on the 10-year Treasury note" since the July 2012 low, "despite Mr. Bernanke's maddening asset purchases since September 2012," Faber said.
So what does that mean for the market?
"Interest rates are no longer a tailwind" but are now "a headwind," Faber declared, adding that yields will drop even further. In fact, he advocates buying bonds as a safety trade, because he thinks that after the market drops, deflation concerns will come to the fore.
(Read more: Here's what Marc Faber likes more than gold)
All in all, Faber contends that the market is well overdue for a correction.
"We're up almost 70 percent in two years, and the economic expansion is 4-years-old already," he said. And with emerging markets a mess, the Middle East highly volatile and rising Treasury yields, "where are the earnings going to come from?" Faber asks.
Of course, the question is rhetorical. And Faber thinks that by the time the market fully comes around to his line of thinking, it will have corrected by some 20 percent.
Marc Faber: Three reasons a plunge is coming
Text Size
Published: Wednesday, 4 Sep 2013 | 7:00 AM ET DeAngelis and the "Futures Now" traders.
If you want to hear a rosy view on the market, you'd better not listen to Marc Faber.
The editor and publisher of the Gloom, Boom & Doom Report has long held that a correction was coming—and even though that thesis has not exactly played out this year, he's standing by it.
"In my view, we'll go back to the lows in November 2012—around 1,343" in the S&P 500, Faber said. Overall, he considers U.S. equities a "better sell than a buy."
On Tuesday's "Futures Now," he provided three three main reasons for his bearish view.
Reason one: The U.S. will follow emerging markets down
It hasn't been an easy summer for emerging markets. In the period of a month and a half, the iShares MSCI Emerging Markets ETF (which tracks emerging markets' large- and mid-cap stocks) lost nearly 20 percent of its value and has hardly bounced back from the lows.
That has made the U.S. market an outperformer, but Faber believes it cannot last. In fact, he said, U.S. equities could be hurt by their relative costliness.
"When emerging markets go down and the S&P goes up, the asset allocators say, 'Do I want to buy the S&P near a high, or do I venture back into emerging economies that are down 50 percent from their highs, like India or Brazil and so forth?' So you understand that the pool of money can flow back into emerging markets," Faber said.
Marc Faber
Reason two: The Middle East will become a "disaster"
The stock market has lately been hurt by the concerns about U.S. military action against Syria. In fact, the market lost half of its gains on Tuesday when House Speaker John Boehner (R.-Ohio) said that he would support President Barack Obama's plan to strike Syria. But Faber believes we haven't seen anything yet.
"The Middle East is a powder keg, and it will go up in flames because the Western imperialistic powers, they still meddle into the local affairs," Faber said. "It's going to be a disaster. And it's going to strike from Syria and Egypt into Saudi Arabia, into the Emirates eventually, and so forth and so on, and you're going to have a huge mess."
(Read more: Syria continues to be your reason to buy oil)
Reason three: Interest rates have become a tailwind
Before Syria became a concern for the market, the focus was clearly on interest rates. Though Fed easing has kept rates low by historical metrics, "the interest rate has doubled on the 10-year Treasury note" since the July 2012 low, "despite Mr. Bernanke's maddening asset purchases since September 2012," Faber said.
So what does that mean for the market?
"Interest rates are no longer a tailwind" but are now "a headwind," Faber declared, adding that yields will drop even further. In fact, he advocates buying bonds as a safety trade, because he thinks that after the market drops, deflation concerns will come to the fore.
(Read more: Here's what Marc Faber likes more than gold)
All in all, Faber contends that the market is well overdue for a correction.
"We're up almost 70 percent in two years, and the economic expansion is 4-years-old already," he said. And with emerging markets a mess, the Middle East highly volatile and rising Treasury yields, "where are the earnings going to come from?" Faber asks.
Of course, the question is rhetorical. And Faber thinks that by the time the market fully comes around to his line of thinking, it will have corrected by some 20 percent.
This is all scare mongering. At the end of the day we went through a long time without caring about the economy. Not saying its not important but its not the end of the world
