This page has been archived and commenting is disabled.
Government Shutdown: The Next Step In The Collapse Of The Dollar?
Submitted by Brandon Smith of Alt-Market blog,
There is a considerable amount of debate in alternative economic circles as to whether a federal government shutdown would be a “good thing” or a “bad thing”. Frankly, even I am partially conflicted. I love to read mainstream news stories about how a shutdown in the capital would be “horrible” because Barack Obama might have to reduce the White House cleaning staff and wash his own laundry:
It's about time that sellout bastard did something to clean up his own act. I also love the idea of the federal government out of the picture and removed from the U.S. dynamic. Americans need to learn again how to live without the nanny state, even if only for a few weeks, and what better way than to go cold turkey. I can hear the tortured sobs of the socialists now, crying for their SNAP cards and low grade government healthcare. It's like...beautiful music...
That said, as much as centralized government needs to be erased from the face of the planet, there are, indeed, consequences that must be dealt with. It is foolish to believe otherwise. No social system, and I mean NO SOCIAL SYSTEM, changes without pain to the population. I am not among those that cheer a federal shutdown, because I understand that the only people to ultimately feel suffering will be average citizens, not the establishment itself. The sheeple may be ignorant and blind, but no one deserves the kind of unmitigated hellfire that could rain down upon our country if a shutdown continues for an extended period of time. Call me a humanitarian...
As I write this, mainstream media projections estimate a 90% chance of government shutdown by midnight on September 30th. Though technically, government funds will not run out until October 17th:
http://www.usatoday.com/story/news/politics/2013/09/25/treasury-debt-limit-october-17/2867471/
We have dealt with this kind of talk before over the past few years, and it's interesting to see the kind of cynicism that has developed over the idea of a shutdown event. After all, the last time a government shutdown occurred was at the end of 1995, lasting only a couple of weeks into 1996. The GOP has folded so many times over the U.S. budget and debt ceiling that most of the public expects they will obviously do it again. It is certainly possible that the Republicans will roll over, however, I am not so sure of that this time around. Why? Not because Obamacare is on the table. Obamacare is just a distraction. No, I'm far more interested in the circumstances surrounding the U.S. dollar.
Obamacare is designed to fail. Anyone with any financial or mathematical sense could look at the real national debt and deficit projections of the U.S. and understand that there is no money and never will be enough money to fund universal healthcare. The GOP could simply let the program take effect, sit back, and watch it crash and burn over the next three to five years. This would entail, though, watching the whole of our economy crash and burn with it.
What we have developing in front of us is the recipe for a new false paradigm. Already, the MSM is discussing the possibility of debt default and who will be responsible under such circumstances. Not surprisingly “Tea Party” conservatives have been named the primary culprits if a shutdown goes south; even former Democratic president Bill Clinton is getting in on the blame game:
All the bickering over Obamacare is fascinating, I'm sure, but lets set the Affordable Care Act aside for a moment and look at the bigger and more important picture. The private Federal Reserve Bank has just announced to much surprise a complete reversal on its suggested QE “taper” measures, resulting in a shocked and confused marketplace. If the U.S. fiscal system is stable and sound, as the Fed has been suggesting for the past year, then why continue stimulus measures at all? Could it be that most if not all positive economic numbers released by the Fed and the Labor Department are actually fake, and that investors have been duped into assuming overall growth when America is actually in an accelerated decline? Wouldn't that be a high speed excrement storm straight out of left field!
The first day rally over the Fed announcement faded quickly, resulting in a slow bleed of the Dow ever since. The magic of Fed stimulus is wearing off, and the investment world is not happy. If I were a member of the Federal Reserve Bank, I suppose I would appreciate a large scale distraction designed to take attention away from me and my elitist club-mates as the primary culprits behind the greatest currency implosion in the history of the world.
Sadly, a government shutdown is sizable threat to the American financial system, and few people seem to get it. Perhaps because the expectation is that any shutdown would only be a short term concern. And, this assumption might be correct. But, if a shutdown takes place, and, if “gridlock” continues for an extended period of time, I have little doubt that the U.S economy will experience renewed crisis. Here's why:
Exponential Debt
Obamacare only tops a long list of already existing “unfunded liabilities” (otherwise known as entitlement programs). These programs are not counted in the government's official calculations of national debt or deficit spending, but they cost taxpayers money all the same. True deficit costs and national debt costs expand every year without fail. If the debt ceiling does not rise in accordance with this exponential debt, a default is inevitable. No amount of increased taxes could ever fill the black hole already created by negative government spending.
A long term government shutdown will eventually require cuts in entitlements, if not a total overhaul of certain aid programs. Imagine an end to all disability payments, including veterans disability payments. Imagine federal employee pensions put on hold for an undesignated period of time. Imagine food stamps placed on hiatus for 50 million people. Imagine how many states now rely on federal funding just to keep municipalities from bankruptcy. Get the picture now?
End Of Foreign Faith In U.S. Treasuries
In a disgusting display of propaganda, media outlet Reuters has released an article claiming that, default or not, Asian investors and central banks are “hostage” to U.S. debt:
http://www.reuters.com/article/2013/09/29/us-usa-debt-asia-analysis-idUSBRE98S0GY20130929
Their argument essentially revolves around the lie that Asian investors believe an American default to be “unthinkable”. Surely, the unnamed Japanese investment source they cite as an “insider” truly represents the whole of Asia.
The reality is, the Asians (the Chinese in particular) have been preparing for a calamity in the U.S. Treasury market for years.
Most foreign investors in U.S. Treasuries have converted their long term bond holdings to short term bond holdings; meaning, they are ready to liquidate their bonds at a moment's notice. Overall purchase levels of treasuries are either static, or falling depending on the nation involved.
China has been internationalizing its currency, the Yuan, since 2005. China has opened Yuan “clearing houses in multiple countries to allow faster convertibility of the Yuan, quietly supplanting the dollar as the world reserve currency. These clearing houses now exist in London, Hong Kong, Singapore, Taiwan, and Kenya. The Federal Reserve and international banks like JP Morgan are heavily involved in the internationalization of the Yuan.
The assertion that Asia is somehow hostage to U.S. debt is a lie beyond all proportions. In truth, the U.S. economy is actually hostage to Asian holdings of U.S. debt. A call for a dump of U.S. treasury bonds by China, for example, in the face of a U.S. default, would immediately result in a global chain reaction ending in the destruction of the dollar as the world reserve currency. This is not speculation, this is mathematical fact. China is not going to sit back and do nothing while their investment in U.S. debt quickly disintegrates. Why would they take the chance when they could could just sell, sell, sell!
The very idea that Reuters is attempting to twist the fundamentals surrounding a default event leads me to believe a default event may be preordained.
What Will Be Defunded?
Non-essential personnel (which apparently includes Obama's maids), will be the first to receive a pink slip from the federal government. Extra Pentagon staff, EPA staff, FDA staff, IRS staff, etc will all be cut. Good riddance. But what will follow will not be so pleasant.
If a shutdown stretches for months, expect cuts in all support programs and entitlements. Veterans disability checks, social security, Medicare, employee pensions, even the Postal Service is likely to undergo defunding. National Parks, and schools that receive federal aid will discover immediate cash-loss. In fact, any state or city that relies on federal funds should plan for the possibility that those funds will disappear.
Military cuts would be at the bottom of the list, but I would not discount the chance of that either.
It cannot be denied; an enormous subsection of the American public is dependent on federal money. If that money dries up, chaos will ensue. I don't like it, but it is a concern.
Controlled Reaction
A long term shutdown will be catastrophe no matter how you slice it. Foreign creditors will react harshly. The bond market will see a haircut not unlike that given to investors in Greek treasuries. Austerity will become an American way of life. The only mitigating factor will be the Federal Reserve, which I believe may institute “extraordinary measures” without congressional consent in order to continue feeding stimulus into government regardless of whether the debt ceiling is raised or not. Given enough desperation, the American public might even applaud such an action and praise the Fed as “heroic”.
In this situation, the U.S. would be facing a Weimar-style currency collapse, rather than a debt default. But in either scenario, the dollar is the final target.
Unfortunately, too many economic analysts presume that the only threat to the dollar's value is hyperinflation (these are the same people that quote the Fed's crooked CPI numbers). But the dollar is just as vulnerable to a debt default and loss of reserve status. Devaluation seems to be inevitable regardless of the outcome of the funding debate.
The Republicans could still surrender, and even if they don't, real damages will not be felt until after October 17th. This is plenty of time to manipulate the public into demanding more spending even when more spending is not in our best interests in the long term. Our greatest concern, though, should be whether or not the establishment is ready to pull the plug on the dollar altogether, using the debt ceiling crisis as cover in order to distract away from the involvement of international banks in the overall problem. There is no doubt given the facts at hand that America is on the edge of a terrible pyre. Is this the event that will finally trigger collapse? We'll know more in a week...
»
- 44524 reads
- Printer-friendly version
- Send to friend
- advertisements -
The only defense is offense at this point in time. Walk to the gas chamber if you must or defy it.
Offence against exactly what, and with what resources?
Forget the "Marauding Hordes" - of late the biggest causes of damage in the Continental USA have been weather-related. Do you reallly have the resources to repeatedly "defend" against hurricanes / droughts / blizzards (prolonged) / seismological events?
Do you have the resources to defend yourself from the secondary (a.k.a. downstream) consequences of such events (unrepaired failure of critical infrastructure - e.g. Nuclear installations)?
Do you have the resources to "defend" against resource contamination arising from mass population die-offs (water supplies / aquifers), or the effects of an explosion in the scavenger population (mice, rats, "larger predators") which will pose a direct and indirect (disease vector / "silent" host) threat to your survival?
This is where the "Guns, Gold 'n' Ammo" survival strategy starts to fall apart. This is why the individuals within early "hunter-gatherer" tribes had short expected lifespans. This is a "best case" scenario providing "those in power" decide not to exeercise the Samson Option., and one particular Country has made it clear that this option is high on their "bucket list" for quite some time now.
Just do something that supports whistleblowers and mass protest, and stop rationalising your useless words. Ta.
While I thought I had been following ZH for economic wisdom and some enlightenment, I just now realize....this place is one of the very few I can come to and feel like an optimist.
That would be an excellent bumper sticker! - "I used to think I was a lonely pessimist - until I discovered ZeroHedge!!", along with "Plan for the Worst, Hope for the Best, Read ZeroHedge at least once a day!"
Our mindset is often moulded by work experiences. Where I work we all hope for the best (in our case a reduction in the speed of development of antimicrobial agent resistance), whilst we have to plan for the eventuality that such a reduction is very unlikely, and there are no "really new" agents entering the Market.
The sense of foreboding is certainly not helped by the equally dismal predictions made during conversations with Patients in "Major Industries" - out there, "those in The Know" make ME seem an optimist!
For an effective defence, you "Need to know your Enemy". We cannot reliably predict downstream consequencesa, so we cannot reliably model an effective response (we CAN model responses on the basis of predicted events, but the consequences of these events are likely to be divergent, i.e. not amenable to reliable prediction).
Add in limited resource availability and / or fragmentation of resources, and things start to look decidedly less than rosy for any future survivors.
Here's an idea: be practical, now. Support whistleblowers and mass protest. Or is that too common for your fancy notions?
It is not enough at scale because the injury is too great. So it is not practical. Like bailing out the Titanic with a bucket. Yes it is something you could do -- go ahead if it makes you feel useful -- but it is not enough at scale even if every man woman and child bails for all they are worth.
The injury is too great and the ship is too large and the ship cannot float now. It is not simply a failure to all bail together -- it is a matter of it cannot float.
The models do not exist. Humans have never existed under the current set of inputs, as individuals or groups, we lack any reference points from history. We don't even know what all the inputs are, or the model sensitivity to them. Is "wealth" an input or an output? How about "freedom"? We can guess that a lot of what we think is part of fabric of civilization -- isn't. We make shit up as we go, and justify it after the fact. Technology? The Internet can survive a nuclear war (so they say) but will it survive a large scale theft of copper wire and looting of the data centers for their value in scrap iron?
We've sailed our ship off the edge of the map. Even if you don't buy the idea that there be monsters, nobody can deny that there are no friendly ports of call for a long run of water.
The jig is up. We are not going forward. I don't think we can even manage a good sustained sideways now.
I am NOT going to write that an Apopcalyptic Meltdown cannot happen. It can. I also believe that an absolute Dystopian Outcome is a possibility. But that is just one of many different possibilities. What you describe is a Third Deviation Event. That is as likely as of a Full Blown Economic Recovery with a Utopian Outcome.
I do foresee something more like Weimar Germany Collapse developing. I have now come to understand that the choice for the Hyperinflationary Depresssion is now crystalizing. I understood this when Bernanke refused to taper.
Again this is a Negative Second Deviation Event. The German Cities in the early 1920s did not burn. While it was very bad it was not apopcalyptic. People survived to be used as Cannon Fodder in World War II. However it was very bad for those whom were not prepared. For those whom were prepared they actually benefitted.
There are defensees to prepare for a Weimar Germany Republic collapse. If I thought that there was no practical defense I would be eating, drinking, and being merry for tommorow I die. Instead I act on what I know and save for the storm. I would not waste my time on this website if I had no hope whatsoever for the future.
Hope for the best and prepare for the worse. But if it does devolve into an apocalypse I will be one of the first fatalities and then it matters not, to me, anyways.
It's gonna blow, but the Vichy-DC theater reminds me of Y2K hysteria. At least on the actors part.
they are just deciding how LONG it's going to take to sink the ship!
Your words mean nothing. Do something that costs you nothing. Buy everything you want before Oct 11, and then buy nothing for 3 days. See my earlier post if you want to support the Constitution, and a peaceful protest.
O'bomba is a true believer in his cause. The world is a contest of ideas, including his. Send a money message to CONgress. Mass protest.
Nothing for 3 whole days? Now that is really gonna hurt.
How about nothing for the rest of your life.
Child,
You do not understand money.
You do not understand your singular vulnerability, and you will not swim for long against the deluge.
Sound and fury meaning nothing ...from you and your ilk.
No sound. No fury. No nothing. Just a quiet wariness as we watch the approach of this cyclone made of knives.
Ignore the troll Cougar. He is in distress!
(Inverted flag)
Instead of insulting him you might attempt to educate him? If everyone in America were not to purchase ANYTHING for THREE DAYS that would knock almost 1% off of the top of the TOTAL US GDP. (I'd do FOUR DAYS myself.)
That would be a very substantial hit. Can you imagine the Political Ramifications of that? The BLS would have to revise GDP a by 75 or more Basis Points?
What is One Percent of a $15 Trillion Dollar Economy? It is $150 Billion is LOST REVENUE...NEVER TO BE REGAINED.
No he does not understand large sums of money.
Instead of insulting him...EDUCATE HIM.
Edited because of a Brain Fart in gonkulation.
This is the first I have heard of this. For anything like this to work you near complete participation. Not happening
The level of fantasy is so thick on this subject you are forced to realize that people are beyond terrified to a point they will grasp at any straw, believing any outlandish thing, if it will provide them yet a slim thread on the last shread of business-as-usual.
But that business is near an end. Now come up with another kind of business.
Who gets hurt in a shutdown? Obamas base... Beaurocrats and the Racially challenged.... The republicans somehow think that if there nice and give them lots of stuff Latinos and blacks will vote for them. Thats the fundamental promise of Rino land. What they havent figured out is if they take an anti-Isreal stance the Jews in America might vote for them.
So long Federal Gov. I got nothing but love for ya!
http://youtu.be/BxgeSv88c2w
After having to take an elderly relative to the doctor today, I want nothing to do with our medical system, and certainly don't want to be forced to pay for Obamacare. It was just one big freak show.
The patients were worse than The People of Walmart: either morbidly obese, from the 3rd world, or so old they shouldn't have driven themselves there (but did). One guy was so fat that when he somehow managed to sit down in a chair, there was a person sized fat roll hanging off of each side.
And then there was Dr.Apu, who more appropriately should have been working at the 7-11. Because at the C-store, no one would mind if they could only understand every other word of his pidgen english or the fact that he never grasped what was going on at all, so long as he gave them the correct change.
Crikey! Come to MA for a version of what you experienced. Or don't. The un-Affordable not-Care Act will kill more than it saves.
Get use to it Whoa. In the last 10 years I've seen our hospitalists go from 90% white to 90% Indian or African. The simple reason is they are cheaper to employ. Some are actually quite good Drs but I always have trouble communicating with them and in my work that can be dangerous.
When indigents come in to a hospital it's most likely they will be seen by a hospitalist. The problem with this is there is not continuity of care and no primary physician for follow up. So If I find out their patient has hep C or Tuberculosis, which happens often,there is no one to call. The hospitalist at that point has nothing to do with the patient.
As primary care Drs become increasingly scarcer, more people are just going to start going to the ER and break the already wobbly system.Obamacare will just accelerate this. Who can tell which will go first? Global financial disaster or Healthcare implosion. Both are equally unsustainable.
Miffed;-)
Healthcare implosion? I'm betting on that in Australia within 15 years tops. Add in a whole host of "new" resistance genes courtesy of NO antibiotic management in China (over the counter supply of anything as long as you can pay for it), an ageing unfit and demanding population, and it's almost a dead certainty.
Future career options? Wastewater microbiology is starting to look very attractive (and for you and I that would be an easy sideways move). Seems better than one alternative (flog skills to the highest bidder, who may be a Mafiosi hell-bent on Global Biological Warfare!)
Something to consider . . . . .
Yes Parrotile, I am always considering alternatives. Ten years ago I had no doubt my field would hold until my retirement. I'm 52 and was hoping to go part time at 62 bit there is no chance of that now. I doubt there will be any semblance of my job at that time.
India and China present so many problems with antibiotic resistance my job will become superfluous. My husband wants me out fearing I will be colonized with some terrible stain that will kill us at some point.NDM-1 here we come thanks to pure idiocy. We've been shouting to the world for years about the dangers to no avail and by the time people get a clue it'll be disastrous.
Miffed;-)
I wish I handn't been curious enough to investigate the meaning of NDM-1. Fuck.
Yeah, even I have come to the conclusion ignorance can be a hell of a lot happier state than reality. I used to shit myself when I isolated a MRSA. This puppy has the potential to take down millions and nothing will stop it.
We are being attacked financially, governmentally, economically and microbially. How can we fight so many fronts?
Miffed;-)
Miffed, M'am, what's your experience on Community vs Hospital acquired MRSA? We're seeing a decrease in Hospital acquisitions ( and less extensive resistance profiles), whereas the CA MRSA cases we've had coming in have been very, VERY difficult to treat (in fact we routinely do NOT treat unless there is an active infection in progress).
Are you seeing an emergence (significant) in Tigecycline AND Daptomycin resistance? Particularly in Overseas visitors?? Scary as hell or what . . . . . . .
Welcome to OUR World - another of the "Invisible Services" I hinted at elsewhere. The original Lancet article on bla NDM-1 was quite THE eye-opener to most non-ID Physicians, and all of a sudden the demands on my time to do numerous "catch up to speed" presentations became "significant"!
You want to see a REAL nightmare scenario - maybe even happening in a Hospital near you - read up on the OXA superfamily of carbepenemases., and notice in particular just how widespread this resistance is Worldwide, to a class of antibiotics commonly regarded as "last-ditch treatment strategies".
Add in all the "new" diseases we've seen emerge over the past decade or so - SARS, new Influenza variants, another new Coronavirus (MERS-nCoV), and one really gets the impression that Mother Nature has really got it in for the Human Race!
Miffed,
how can i contact you? gotta share my experience last week.
Email me is best. Chat doesn't work on my iPad. It's a pain for me to borrow my husbands laptop and wait for some one to log on so here's my email. Zhmiffed@gmail.com
Miffed;-)
I'll make a note of your contact details too if that's OK, if only to share what's happening "Down Under" on the pan-resistance front. Things along this line - http://www.ncbi.nlm.nih.gov/pubmed/16425246 which we are starting to see in the diabetic, and overweight / functinally immobile population.
Not exactly cheerful is it . . . . . .
More than happy to here from you. I have a busy few days so I may not get back to you right away. The info was fascinating.
Miffed;-)
>>>In the last 10 years I've seen our hospitalists go from 90% white to 90% Indian or African. The simple reason is they are cheaper to employ. Some are actually quite good Drs but I always have trouble communicating with them....
I'll vouch for that. I'm a US-native physician who's worked in US and non-US hospitals for decades, and the non-US physicians who make their way into the US system are (generally) smart and hard-working. I'd guess that they're at least as qualified as the typical US medical school product, and quite likely better qualified, on average.
I see this when comparing Aussie-trained Clinicians with Overseas trained, particularly Chinese.
Our Chinese Residents / CMOs certainly deliver an exceptionally good service, and seem to be far more knowledgeable (on a years out of Med School basis) than the home grown product. When I eventually get around to having my "lumbar bulges" attended to I know who will be "doing the surgery", and she is most certainly Chinese trained.
Just had to junk all the posts calling for the burning down of our Government because you don't know what you are asking for!!!
You must read and understand the letter of the Constitution because you are inviting more tyranny than we are already experiencing. Key Articles to comprehend are Article 4, Section 4... Article 6, Clause 2... and most importantly Article 1 Section 8, Clause 17 & 18. But by no means do they diminish any other part of the CONTRACT.
Your comment is foolish.
'Give me liberty or give me death'. I would rather die on my feet than live on my knees. The USA is unique. It is the only country founded on the principle that people can govern themselves, without need for monarchy or big government.
You are foolish, probably very young. Life will teach you better.
Bet you can't cite one Clause, any Article yet you call yourself Constitutional... With a symbolic flag of distress! WTF
I am free of tyranny Constitutional!!! Haven't even had a driver's license for over 25 years but drive every day. How much more would you like to learn about me before you embareass yourself again? Who is foolish?
You are an apparatchik, obnoxious child, full of ad hominem, adding nothing of value to any adult discussion.
Merely complaining without posing an alternative offers nothing. No further contact with you NSA TROLL!
65 years young MF and ready to change your diaper! Did my time in Nam so you could sit in a basement and troll. 'get rid of the flag moron'
One brain-dead moron so far...
You are an apparatchik, obviously.
Who's an apparatchik???
'Putin says: Fuck you, nazionists. Good. The enemy of my enemy is my friend.'
Your words not mine. Kissin' Putin for food are ye?
Fuck you.
Sincerely.
Butto
A total of four un-educated slaves to the State! Good luck with that!
it wont fukin shut down, thats bs it will morph to martial law one day
Cancel Halliburton contracts and any of moral hazard likewise. Send hourly paid workers, on one weeks contract at $12 per hour to any Govt agency office in the USA, tell them to walk in and ask any pre taught specific 3 agency based basic questions. Now defund/fire the two people at the desk, one "on facebook", one "talking about that girl in accounting" who say "You'll need to wait for Mr Smith, or Mrs Jones, 'cause I'm not familiar with that process, please sign in" and/ "I'm not in claims", or "I'm available Tuesday the 5th if you'ld like an appointment" (I tell you this occurs at any fucking Govt facility). Thank me later for this very simple, applicable budget solution.
So, you'll be supporting the Truckers for the Constitution Ride on Oct 11, and buying your stuff beforehand and nothing after Oct 11 for 3 days...or you'll be a singleton, a part of no community, and no worthwhile resistance.
I intend to, yes, not so much for solidarity, honestly, as that I understand that if they do it broadly, or extend it, it will quite prove their(truckers, in light of JIT logistics) importance to the masses.
Just do it.
The problem with the over-educated young is that they forget fundamentals, imo.
The Constituion is the only thing that stands between you and monarchy, tyranny, debt slavery.
The Constitution is already a dead document. It has no future except to be re-written by another generation, if they value the effort.
Abstraction will not save us. Ruin will find us in our holes and the day will go to the clever and the swift.
The trucker thing in D.C. aint gonna amount to noth'in..BTW...The upside down flag shit is beyond reproach in my humble opinion.
Slack, not my fight, but must point out that you need to read up on what things an upside down flag means. (I've been a US Flag color guard many times FWIW, through the years.)
P.S. also note he's using an early version of the US Flag+ his screen name means maybe "constitutional country's distress", though admit I'm not sure sure where he's going.
the question is who has the sovereignty to print
fiat money?
all this other shut down talk is missing the point.
.
the current system already failed decades ago.
.
oh, sheesh! how quickly we all lose the plot
and our "money", natural rights and property!
.
can you smell the artificial desperation? it is like
those car fresheners that smell like a "dead gentleman" *tm
when you leave it in the glove compartment of the car
on a hot summer day when the temperature goes to 120 and
the whole car smells like there is a corpse in the trunk.
.
no?
True, not blindman.
o man says the parks will shut down and tough
luck on the businesses and communities that depend
on those "parks", federal land. indian land. not from
india but original genocided natives or the survivors.
.
shut them down cause there is no money for the
operation of preserved wilderness/ aka parks.
.
that has become expensive, preserving wilderness
requires international fiat money.
.
question. which government weapons and defense
contracts will suffer due to a limit on the debt
ceiling.
which foreign aide grafts?
and what does that mean? 'debt ceiling'.
why does our survival and continued functioning here
demand increased debt and a higher "debt ceiling".
.
sheesh, i could answer but i will leave it to the
economically educated and astute to articulate.
.
morons or fraudulent criminal quisling, you choose.
Well said, and the lazy lofers of expensive education will walk to their own end, apparatchiks, educated fools and useful idiots.
Loafer
Guess you were spared an expensive education! (spell-check)
i've been waiting for years for the other shoe to drop.
wake me when it happens.
Some of us remember the last shutdown and the "unintended consequences." It wasn't bad--not much changed at all. At first the Clinton white house tried to annoy people by cancelling tiny bits, similar to the response of discontinuing WH tours because of sequester. But this backfired, and people didn't see much difference that mattered to them. I think people today are much less likely to see this as a panic situation.
The article is wrong in asserting that it won't save money; the experience from the last shut down and the sequester suggests it will in fact slow debt growth. Debt payments will not be suspended, those have priority in statute. The important thing that Gingrich et al did not recognize is that proactive (I hate that word) measures have to be taken in order to sway public opinion. The House leadership has already begun this with the bill regarding military pay. There needs to be much more of this sort of legislative guidance for spending priorities. There is so much excess spending that most people won't even notice a shutdown.
And it might be the only thing that prevents true civil unrest.
I can't take much of this missive seriously. All evidence points toward politics. Republican establishment just wants to avoid blame for a shut down and Democrats want to place blame on Republicans for any perceived or real issues caused by a shut down. They also want to make sure Obama care gets implemented for several reasons. One of course is that if it fails before it begins progressives will lose any ground they have gained and they wont reach the ultimate goal of single payer healthcare. At the end of the day this is all about party power on all sides with the exception of the small group of libertarian minded republicans in the house and senate trying to stop this "train wreck" before it's implemented. They stand in the face of progressives in both parties. And they are splitting the republican party which I welcome wholeheartedly.
Some are saying we are seeing the emergence of a 3rd party with some mojo. We shall see.
As for the dollar, I think when the petrodollar deal begins to fracture, as it is already showing signs, that's probably one of the last legs in the table.
There are no party politics anymore. Both major parties work for the same banking cabal, and they'll do as they're told. If they are told to collapse the system, they'll do it, and probably laugh about it afterwards.
"There are no party politics anymore" Clearly this is not true. I mean easily, verifiable not true. Scale back the understandable cynicism and have a sober look.
I tend to go by real evidence not theories of unknown secret cabals that only you and Alex Jones can see.
Be careful about blaming people that you can't identify. There are manipulative individuals and groups, lot's of evidence for this, but they do not exercise the level of control you think they do. The idea that everyone in gov is strictly controlled by some power behind the scenes defies the evidence. There are manipulators and opportunists to be sure.
No entity, including government can control outcomes of large multifaceted issues that involve millions of people explicitly. The best they can do is manipulate and take advantage of situations.
It's very easy to mislead the uber cynical.
Easier still to mislead the naive.
Said he who probably believes things that aren't and can't be proven. Go's on total faith. Have fun with that, I'll remain rational.
You want evidence that the Parties work for the same people? Look at the donors to the election campaigns.
Who wrote the Affordable Health Care Act? The Heritage Foundation...a Republican Think Tank.
All you need to do is open your eyes instead of denying that which is so apparent. You may be able to get away with that crap on a Comment Board where the people are not aware of Current Events and History. You waste your time here. You may want to post your MSM Commentary to the ignorant on another Comment Board.
But your paycheck will be cut when they shut down the Governmewnt. I am not too concerned as I am not paid to write...like you.
So support your pedophile friends, like this one, in the Military. (The vote was UNAMINOUS in the House to continue funding for these psychopathic freaks.)
http://www.youtube.com/watch?v=sKb5NXWi_B4&list=FL8QcbSiNx5aG21vlMz8A9wQ
Pay attention to what this jerk says at the two minute and after mark. There are ten of these pedophiles walking free courtesy of BOTH PARTIES and the US Military. The video has been posted for FIVE YEARS. It demonstrates that the NSA does not care to prosecute Military War Crimes as Child Rape.
Is that PROOF enough? That makes me want to VOMIT.
I can easily identify them. All you have to do is pull up a roster of the CFR and the Bilderberg Group. Only the naive and foolish still believe politics in America are grounded in reality.
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert by secret agreements arrived at in frequent private meetings and conferences."
-- Caroll Quigley, member of the CFR, mentor to Bill Clinton Tragedy and Hope
Try the operating model of government represented in Liberty, you can read about it at www.electanewcongress.com.
If government shuts down, free enterprise just might make a comeback.
The argument about foreign investors turning away from USTs needs to be clarified for better understanding.
Much of that so called "demand" is surely other foreign CBs acting in concert with the US protection racketeers?
In this case what is the real likelihood of a sudden and coordinated shift away from USTs?
The way I see it, buying USTs is a risk free game for foreign CBs to play. They already know that they are virtually worthless in a reserve sense but it allows them to keep the larger "devaluation charade" going along happily.
I don't see the logic of the foreign CBs suddenly moving away from supporting USTs. It seems that currency devaluation is the goal of most CBs and being in the USD club makes it so much easier to achieve this.
Which country will (a) start selling oil in anything other than dollars, or (b) reject the USD as The Reserve currency? Any bets?
If Hugo "Fuck-You-Bush" Chavez were still alive, I'd bet that he'd be the first to deviate from the USD for oil exports, and take any currency. Unfortunately, Venezuela's refineries suck, so they have to import too much. The US would deny them sales of refined petroleum products in anything but USDs.
Let's take a look who wants to sell oil for gold:
Iraq, Libya, Iran to name just a few. See what the CONgress critters beholden to globalist central banks and Trilateral Commission did: send our U.S. troops to those lands under false flag attacks upon the U.S. which is used by nazionists just as they did use the peaceful Indian sign swastika, and ruin jews and Germans and Europeans.
Same plan. Different date.
Putin says: Fuck you, nazionists. Good. The enemy of my enemy is my friend.
What you are talking about is completely retarded. It makes no difference which currency is used to trade oil; and many different ones already are. That is not what is sustaining the dollar. It never has been and it never will be. What sustains the dollar is the combination of a massive economy (yea, america still produces a ton of stuff, surprise!), with open trade (and not just with China), relative political stability (if you think America is bad, you haven't been around) and a solid legal framework (same as previous). There is nothing as solid as America anywhere on earth; some nations are more responsible but they are also much smaller. This is why it is the "reserve currency". Because if America is fucked, everybody else is fucked twice.
Thanks for your sensible perspective--people seem to be losing their marbles, so that a voice of reason post like yours really stands out.
An organization is technically insolvent when it has to borrow money just to pay the interest in their long term debt. This is exactly what they US gubbamint is doing. How long before their creditors tell them to go take a hike? This week perhaps? They do look like a bunch of monkeys fucking a football with the spending and debt ceiling debates.
The sooner, the better.
shut it all down.
http://t.co/AbWzxw69CN
we need a reset
C'est la meme chose.
See what we have here is a Failure to Communicate.
Big deal, if goes over to the next day. One way or another the crack limit is going to be raised.
Now if we wuz to be attacked by Aliens, it would be raised to infinity in a heart beat. Okay, so the change of Aliens is pretty slim, and a World War is off the books for a while. Unfortunately the chance a Fuchushima on US soil is pretty unlikely. We could hope for a Category 6 Hurricane, and again not likely, and you can't make one. So that only leaves one method left, everyody knows what it is, it's become the phrase of the Centuary, "False Flag". But a False Flag of mega proportions, lets say Biblical.
That would be EMP.
Bill Clinton's idea of an America that hasn't failed is one that pays the interest on the absurd debts its piled up with more borrowed money it can never, NEVER BILL, pay back. And they called Nixon a crook?
The Clitons are two-faced, lying whores, as their factual track record shows. Traitors. Hang 'em high. Obama is an innocent compared to them.
The words "Clintons and innocent" go together like "Pickeled Eggs and Ice Cream"
The answer is the U.S. joining the Commonwealth. We have everything in "Common" including no "Wealth".
Funny in a serious way. My favorite erudite comment of the day, optimator.
The people are smarter than politicians, no doubt about that.
"Obamacare is designed to fail. Anyone with any financial or mathematical sense could look at the real national debt and deficit projections of the U.S. and understand that there is no money and never will be enough money to fund universal healthcare. The GOP could simply let the program take effect, sit back, and watch it crash and burn over the next three to five years."
If there was an intrade around today, my bets would be that the GOP is doing everything it can to kill Obamacare because after all it might work. And if it does, damn, they're all fucked. After all, most developed countries (and developing ones) have some sort of universal health care, and their costs are a fraction of what the all-private US healthcare system is.
You wouldn't see the desperate attempts like "you don't need healthcare" ads if they were so sure that Obambicare is gonna fail for sure.
And those grand social benefits that these other "progressive" countries enjoy probably has absolutely nothing to do with their current financial circumstances.
Probably some do and some don't. But at least people don't go bankrupt from health issues and don't get cut off from healthcare because they don't have enough dough.
I recall a interview with a supposed DHS insider (Rosebud) that there will be no budget deal from either sides of aisle. This is designed to create havoc and get the masses to fold. As a result gun confiscation after the time period of chaos will ensue.
Spare me the bleeding heart whining & crying! The United State_ gubbermint with Usurper as its head is bankrupt and a continual threat to its citizens' lives, liberty & property. The (not really) Federal (with no) Reserve robbery machine and its zombie shareholder banks are insolvent and their CyberFeRN is doomed to collapse anyway.
Get it over with. SHUT 'ER DOWN and let the FeRN collapse, so The People and those things formerly known as sovereign States can start over with a clean slate.
Welcome to the show! Please, come inside. Ladies and gentlemen, do ya want it? Do ya need it? Let me hear it, ladies and gentlemen. You've seen that seeing is believing; your ears and your eyes will be bleeding. Please check to see if you're still breathing! Hold tight, 'cuz the show isn't over; if you will, please, move in closer. You're about to be bowled over by the wonders you're about to behold here! Welcome to the beltway. Lock and load, bitchez!
Inside Beltway III: Creating Cover for Big Shift
http://www.veteranstoday.com/2013/09/30/inside-the-beltway-iii-creating-...
.
you are all Palestinians now.
all of you.
on the reservation.
the people's government on it's knees to the
world's fake money shit bag fraud peddlers
manipulating the world's populations into suicide
and genocide for entertainment and profit.
.
Rich Man's War - John Trudell
http://www.youtube.com/watch?v=fDOZ00A1aos
.
this just in !
Keynesian Economic Theory As Applied To Private Sector Independ
https://www.youtube.com/watch?v=dT1AHDjzcsQ
.
warning, offensive on every level and discussing
ass p.. keigling, yet with some humor and scouring
grains of truth.
so it goes.
So the world is run by space aliens, Blindman? Golly Gee, I was hoping for some insight on whether the dollar is at risk. Oh well....
The GOP WILL back down yet again. I lost all faith in that bunch of phonies a long time ago. Couple weeks max, then back to business as usual. Same as it ever was, same as it ever was..........
GOP and Dems are two factions of the statist team. They are arguing over strategy of how best to destroy the Republic. Nothing less.
For crying out loud, Brandon. You talk about how bad a shutdown will be, and I'll admit it will be awful. But the collapse if this goes on will be far far worse.
The shutdown will lead to collapse. Did you not read the article?
without a need to monetize QE is absolutely useless, which means interest rates are set by the market (as they should be) much higher, america becomes the hot money destination, and the dollar soars. goodbye cheap chinese goods, foreign oil, obama and his electric car rackateer pals.
"The QI Elves @qikipedia 1h
Curiosity, the robot rover on Mars, has been put in protective mode and will not collect any new data during US Government shutdown."
They see me Rovin', They Hatin'
"... it's time for the senate and White House and the President to listen to what the PEOPLE want."
What do you think HAS BEEN HAPPENING?
Every candidate for federal office "listens to what the people want".
And here we are. The debacle is the result of that listening.
No, no, no. They're giving the individual and corporate parasites what THEY want. I've feel like they never heed what I want. The day the govt does something I want, I'll be surprised. Meantime, watch the resident bow to every potentate he can find and watch the dems load up dumptrucks full of cash to hand out to illegals and parasites and watch the reps act like, to paraphrase Cheney, "cheese-eating surrender monkeys."
"There is not enough tax to fund the US government, any kind of tax, collected in any manner, period. So, it's over. Now we get to watch it fall completely apart."
Yep Cougar, that's it. Been inevitable for some time.
"But, if a shutdown takes place, and, if “gridlock” continues for an extended period of time, I have little doubt that the U.S economy will experience renewed crisis."
THE CRISIS NEVER ENDED. Papering over a crisis does not end it.