Global Economy Bursting?

[Austin]

One of the most interesting things about this financial/fiscal debacle is the way the media and powers that be morph from point A to point B. We have had QE1 and QE2 now we are from default 1 to default 2.
Last week and prior “default” was being defined as not making the interest and principle liquidation payment on the national debt. Every time someone said we were headed for default someone else would correct them and say no default because we can make the debt payment.
Well starting yesterday I heard a new twist from the Democratic side from two different people. Must be talking points to counter the above response. Default 2 means the government employees do not get paid when the government shuts down. We no longer shut down departments that have no function but we default on them. If the department of education doesn’t get funded to do whatever they do, no one is exactly sure, that is a default. Default is a bad thing so it is good politics to make everything we want funded to be a default if we can’t fund it. That way you see, the Republicans tea partiers are responsible for all the defaults.

 

[Terrel L. Shields]

I wonder what it would really cost to run government if we tried?

I got a notice to go get another license plate. Mine is 8 years old. Its' in fine condition...so why change it? Instead of dumping my renewal back in the mail box I must drive at least 9 miles one way to go get another tag. No mail in. I have to waste time in line waiting to get a new plate to replace a perfectly good one. Yep, it's only a few dollars to make.. $2? I donno. But it is just that you multiply $2 x half a million here. The gov said we need larger stop signs that are reflective and by 2015 all street signs must be larger and more reflective... the cost to our county will eventually rise to $1 million or more. why? If you cannot see a sign that's 2' in diameter now, do you think you will see a 3' one? You don't need on the road...at the same time, my state has resisted putting cable barriers between lanes of traffic which clearly reduces fatalities on the major roadways...claims that it will increase accidents...?? Go figure. I 540 built bridges that are A - sloped B - curves and C - tilted. So far about 3 people have died jumping over the bridges (some are 400' high) trying to escape injury when they slid into the bridge during ice events. Another car comes along and due to the curve, slope tilt...anyone trying to stop merely sliding directly into the low side where the accident also sent the others. Anyone outside the car is either killed or jumps over. There was no reason not to cut the slope down and make the bridges STRAIGHT and LEVEL.

Incompetent design and engineering has cost the taxpayers billions upon billions and the legislatures have turned a blind eye to it...and their response is to make signs bigger.. great governance.

 

[Randolph Kinney]

Our representative political system has evolved. All the nuclear options once considered unthinkable to use have become acceptable. If the debt limit and funding bills can be held up until the political issues are resolved, forcing a shutdown of government (Minnesota & California are good examples), that becomes the method of governing. The political parties have fractured into different groups so that a coalition needs to be formed to get the job done.

It would be simpler to adopt a Parliament style of governing with a vote of no confidence. That forces a new election. Instead, we have to be subjected to all the media hype, political distortions and lies before the next election. And we get the worse solution, not the best solution for the country.

 

[Randolph Kinney]

Dollar, Euro fall as investors run to Swiss Franc

Swiss franc parity with euro possible, analyst says

http://www.marketwatch.com/story/pox-on-dollar-euro-makes-swissie-good-as-gold-2011-07-26

One way to vote is with your money. Gold and Swiss francs are speculators choice.

 

[Randolph Kinney]

Need U.S. debt cap fix immediately: IMF

http://www.marketwatch.com/story/need-us-debt-cap-fix-immediately-imfs-lagarde-2011-07-26

 

[Terrel L. Shields]

I think the debt ceiling is a red herring... the problem is how do we pay OFF what we owe. The debt ceiling is just another way of keeping the wolf at bay for a few months more.

 

[Randolph Kinney]

Gold hits record price of $1,624.07

http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2011/07/26/BU0G1KEO8R.DTL

The metal - seen as a safe haven in times of risk - is benefiting from gridlock in Washington over the debt limit and budget.

 

[Restrain]

House Speaker's bill is DOA in the HOUSE. Reid's bill won't pass the Senate. O threatens to veto both. Now, the CBA says 820B, not 1.2T in reductions. And, in the case of the Special Committee to figure out reductions and make the reductions automatic, legal experts agree that this won't pass constitutional muster.

 

[Couch Potato]

Our representative political system has evolved. All the nuclear options once considered unthinkable to use have become acceptable. If the debt limit and funding bills can be held up until the political issues are resolved, forcing a shutdown of government (Minnesota & California are good examples), that becomes the method of governing. The political parties have fractured into different groups so that a coalition needs to be formed to get the job done.

It would be simpler to adopt a Parliament style of governing with a vote of no confidence. That forces a new election. Instead, we have to be subjected to all the media hype, political distortions and lies before the next election. And we get the worse solution, not the best solution for the country.

You need to factor in the fact that for some in congress the prefered outcome is default. They see this as the only hope to reign in spending. As long as republicans and democrats keep feuding, the tea party wins.

 

[Couch Potato]

House Speaker's bill is DOA in the HOUSE. Reid's bill won't pass the Senate. O threatens to veto both. Now, the CBA says 820B, not 1.2T in reductions. And, in the case of the Special Committee to figure out reductions and make the reductions automatic, legal experts agree that this won't pass constitutional muster.

If automatic cuts are not constitutional, why are automatic increases constitutional? :new_all_coholic: