Global Financial Crisis (11 Viewers)

[swag]

The Tea Party was never a homogeneous entity. Lots of people who considered themselves "Tea Partiers" did not give a damn about God, Gays and Guns. Those folks are the new Tea Party clowns who are essentially Neo-Clowns. But I still don't see why Murdoch was brought up in here.



It depends on what that "change" is.

Is it Change we can believe in? Because if it is, I'd rather not.

The problem is there are a lot of morons who believe it's working just fine and great, even as it gobbles up more and more of the GNP and becomes a greater and greater part of operational business expenses, let alone the federal budget.

Deciding not to do anything is a decision in favor of the status quo, and that's bankrupting everybody.

 

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[Bjerknes]

The “historic, bipartisan compromise” reached to raise the debt limit does not end the struggle to reign in the federal deficit — in fact, it pushes the most difficult decisions off into the future.

More surprising, the debt deal actually cuts almost nothing now–it just promises future cuts that may or may not materialize.

There are very few specific cuts in the deal — and the $1 trillion in immediate cuts are almost entirely constituted of caps on future spending. And those caps are not required to be honored by future congresses.

http://www.businessinsider.com/truth-about-debt-deal-2011-8

That's all one needs to know about this useless "debt deal." Now lets see if S&P sticks to their guns and downgrades us -- they said we need to cut about 4 Trillion, not zero. They might not have the balls to do it but they should because we don't deserve a triple A rating. Sorry, but we don't.

“We have negotiated with terrorists,” an angry Doyle said, according to sources in the room. “This small group of terrorists have made it impossible to spend any money.”

Read more: http://www.politico.com/news/stories/0811/60421.html#ixzz1TouM8hR5

SHUT THE FUCK UP BIDEN. I can't believe I voted for you and your other little weasel Obama. Go to hell you fucking cocksmoker.

http://www.politico.com/news/stories/0811/60421.html

 

[Enron]

So they raise it $900 billion and will maybe, possibly, but not guaranteed, cut $917 in the future?

Oh look, using Gabby Giffords to distract the public from the shit that just passed.

 

[Bjerknes]

That's how Washington and their media goons operate. Concoct distractions and if anybody disagrees with a policy, label them a terrorist or racist. That's the playbook. And if S&P just so happens to downgrade our debt rating, don't be surprised to hear another terror alert was issued or some white supremacist blows up his crotch on a flight to JFK.

But this is good news. Let these politicians reveal their true colors. More and more people are figuring out where our country is heading, so perhaps we'll be able to save it before it turns into another Nazi Germany. My location explains it all.

 

[swag]

Damn, we need some self-inflicted biological warfare to get us out of this mess.

Time to ask China to dip a little diethylene glycol in the national Metamucil supply?

 

[Bjerknes]

Moody's upholds their AAA rating on US debt, but says outlook is negative. :rolleyes2 Gee, you guys are such market oracles.

Still waiting for what S&P says. Hopefully slashes this shit.

Wonderful day on Wall Street... love seeing all that red with the dollar ending up in positive territory. That's good. More of that, please. Fuck stocks.

 

[Tak!]

I noticed now that some of you have blamed Obama and said that Bush didn't have the problems Obama have which implies that Bush did a better job. I can't understand why anyone would blame Obama for all the problems America is facing though. All the long term problems was solved with short term solutions (read - making debts higher) by the Bush administrations and the ones before him. Sure, more people had jobs when Bush was golfing but his administration killed the last strings of hope. Obama's task is impossible to solve and it looks like he's realizing this himself. Although I doubt he ever really believed in "change" and that was just a word to draw attention. Either way you can't blame Obama for the current problems. These problems has been there in the past but they haven't been faced before, not even intended to be solved. I'm not saying Obama is doing a good job, I'm saying he's trying to solve problems forced upon by the Bush-administration. The problems didn't arrise from nowhere and debts estimated to 100 percent of GDP doesn't appear over a year or two. This takes time and Bush made sure to rise debts as much as possible so he didn't have to face his real challenge and not his father's made up challenge in middle east.

 

[AndreaCristiano]

Look at the market the past few days it tells you how much bullshit was in this " debt deal' I use that term lightly. The world needs to stop and revert backwords. To much money wasted. Go back to the gold standard and watch that be a first step

 

[IrishZebra]

Wouldn't the global economy contract significantly more with the introduction of the gold standard, given the amount of money in play and the finite supply of gold?

There's more silver certificates than silver IIRC also.

 

[Raz]

There isn't enough gold in the world to cover all the money now

 

[Hist]

The BRICKS shall rule again with the imminent US downfall.

 

[IrishZebra]

Brazil Russian India China north Korea and Senegal?

 

[Nenz]

Wouldn't the global economy contract significantly more with the introduction of the gold standard, given the amount of money in play and the finite supply of gold?

There's more silver certificates than silver IIRC also.

Time to stop inventing wealth.

 

[IrishZebra]

All wealth is invented it's a social construction

 

[Bjerknes]

So S&P had the balls to downgrade us. Good for those maggots. The US government clowns deserve it, especially Obummer.

This is a fantastic article by Karl Denninger explaining why we're fucked. Everybody in this worthless piece of shit government should read it.

http://market-ticker.org/cgi-ticker/akcs-www?post=191576

 

[swag]

Did we have a debt rating during the Great Depression? Would be an interesting comparison.

 

[Bjerknes]

I'm not sure if we did. But even so, it wouldn't be comparable because we are much more in debt as a nation now than we were in the 30's.

 

[Bjerknes]

So, apparently the primary dealers of US debt (large financial institutions like Goldman) knew that our credit rating would be downgraded by S&P several hours before the official announcement.

I don't see how that's any different than insider trading.

I also don't see why wishing death on bankers is a bad thing anymore. I hope another 9/11 hits the Goldman building and also JP Morgan.

 

[swag]

Actually, since the S&P's debt rating inception on the US in 1917, it's never been below AAA. Great Depression included.

 

[swag]

So S&P had the balls to downgrade us. Good for those maggots. The US government clowns deserve it, especially Obummer.

This is a fantastic article by Karl Denninger explaining why we're fucked. Everybody in this worthless piece of shit government should read it.

http://market-ticker.org/cgi-ticker/akcs-www?post=191576

Btw, Andy, you may be shocked to learn that I agree with the majority of that piece.