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The US Deficit Panel Fails To Win 14 Votes Of Support From Obama Administration
According to Reuters, the US deficit panel's recommendation to cut the budget fails to win 14 votes of support from the teleprompter's commission. This means no deficit vote will go to congress. And so the bullshit continues: America will never adopt austerity until the revolt or the Fed's overthrow arrives.
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People will be 'austere' indeed looking at $10 loaves of bread with no heat and reading their 401K statement at -0- by candle light.
Save yourself, your family and loved ones -- the neighbors, if you can!
Another false premise theme going on here.
How about we need to crack down on banksters and have austerity.
Sorted.
Of course! But no one who matters is ever going to state that, theyll just continue until the people have nothing and the bankers are the ultimate overlords of all!
Personally I saw WE give the bankers austerity by locking down Wall St for about a month with a few million people there blocking everything, shutting down the markets and the media and all that crap...dont even let them arrive in their control towers!
But now watch all them who say something must be done to stop all this say 'Aw man thats nuts...cant do that....interferes with my weekend and such'. Yep!
We can dream.
And it's right we do.
And so the bullshit continues:
America will never adopt austerity ?
Austerity is not something anyone ever chooses to adopt !
Austerity is usually the only way out of bankruptcy for a Nation in Debt
Austerity is dictated and imposed on the bankrupted and indebted Nation
by international Creditors and Bond-Markets holding the Debt owed.
Austerity is not an adoption or a choice, it is the one and only way out of Debt, after all other adoptions have failed.
If consumers don't start spending and Unemployment increases
even more,the US will soon find out what Austerity realy means.
Not even Bernanke can keep printing forever while keeping rates at zero.
The last Interest Bill for the USA was 414 billion on 13.8 trillion
national Debt.That was about 3% Interest on national Debt.
If interest Rates go just 1% higher,that Interest payment will be
552 billion a year.
Bernanke looks like he's between a rock and a hard place.
My prediction: Austerity will be the only way out for the US.
Austerity is usually the only way out of bankruptcy for a Nation in Debt
My prediction: Austerity will be the only way out for the US.
Thought I should highlight the important. While austerity is USUALLY the way out as you said, it is not the ONLY way out. It is just the ONLY way the elite will push to have.
We could go the Iceland route and DEFAULT
When I was young, I defaulted on a credit card. Guess what happened......almost nothing......they put it on my credit report........whoopdefuckingdoo.
If the US defaults, what will other countries do??? Almost nothing.
It is just the ONLY way the elite will push to have.
Winner winner chicken dinner. See generally, europe.
If the US defaults, what will other countries do??? Almost nothing.
If we're the last domino, this necessarily means all other dominoes will have fallen before us. At that juncture, who cares if we default? What CAN they do at that juncture? Is England gonna ask whoever buys its aircraft carrier to sail it over here and push some other boats out of the way in a new york harbor? We'll have way bigger fish to fry at that point than worrying about other countries (well, we'll still have to worry about the security of their respective world killing technologies).
The sooner the public realizes this and acts to enforce it, the better. Or, the quicker we can get on to making the same mistakes again... either way, time for a change.
stop yelling at me.
Austerity is utterly pointless. The solution is:
#1: default on all fiat debt.
#2: shut down the federal reserve.
#3: shut down federal, state and local governments.
#4: adopt gold standard (no fractional reserve practices).
The quality of life would positively explode upward.
So the point of the panel was...?
to be convened....
Political cover.
Delay, obfuscate, baffle with bullsh!t...
Beer and apple fritters to the moon.
This is exactly how the process has gone throughout history. Take comfort in knowing that continued spending will remain unabated until the bloody end.
Lol! And all this over what amounts to a 5% cut proposal. Denninger (yeah yeah I know how he has so many fans here - get over it - the dude provides excellent analysis and speaks the truth. he's on our side) estimates we need a 40% cut! Indeed no austerity in US. Fear the alternative.
Austerity for you, the little peon and fat favors for the elite. God forbid we yank gov't subsidies for the corporations.
Save the Rich has been the rallying cry!
Eliminate all of the Bush tax cuts first. Wait a few years and see. Anyone serious about reducing the deficit/debt cannot support those tax cuts. The Bush wars and tax cuts have added trillions to the debt and hundreds of billions to the deficit. Next treat each country we trade with exactly the same as they treat us... if they have tariffs, we have tariffs, same with price supports. Enforce anti-dumping laws.
If the rich screwing the working class out of Social Security is your solution to the "deficit" problem, then yes there will be a revolt. And the working class you suckered to vote Republican will be in the lead to exact revenge against those who lied to them.
Since the Reagan tax cuts, the "rich" have done nothing but INFLATE the Stock Market. Nothing of real value was created.
If the "rich" pay their taxes, people will be employed, the economy will grow, and stock prices will reflect Real Value.
America will never adopt austerity until the revolt or the Fed's overthrow arrives.
I don't think americans have even the faintest clue how fantastically prosperous and happy they would become if they closed down the federal reserve, returned to a pure gold standard (no fractional reserve practices whatsoever), and abolished all levels of government.
Within two years the standard of living would explode to such heights that people would hardly be able to mentally cope with the situation. And seeing this, the rest of the world would hang their tyrannts along the streets and start living the good life.
Sigh.