Welp, shit just got real. Debt ceiling talks went nowhere today and the markets fuct

but it wont be a simple yes or no vote
if they actually want to make cuts, it is a long process


a clean raise will be 6 pages and a couple votes
$3t in cuts will be 1200 pages and 12+votes
 
Against my better judgement, I'll bite. What?
Deficits = Spending - Revenues
Spending is up mostly due to automatic stabilizers, unemployment benefits etc. while revenue clearly took a shit in 2008.

But feel free to explain.


I know the feeling.
 
Or, they do know how to play this and realize that if anything, a downgrade will create greater buying opportunities for the inevitable bounce back. Hedge funRAB are going to gleefully buy whatever durab money flees, just as they did with the great muni storm a few months ago.

Second, the repo market and other treasury investors have no other place to turn to as a safe haven investment... German bunRAB are laughable right now.
 
You're talking about the idea of the electoral college in regarRAB to a pure democracy, and the idea was that the whims of a population could not turn against any man's rights; ie. the entire country voting it's okay to kill gay people or Chinese people doesn't make it right.
 
There was an article about this in the Economist recently that I thought was pretty good. The article argued that the Republicans had a point initially. Obama and his administration weren't making any positive moves to substantially reduce spending, which is obviously going to have to be the better part of the savings. However, once the Republicans got "in swing", they wouldn't let go, even though Obama's most recent offer promised to take a full 83% of the savings from spending cuts, and only 17% from tax raises (which in this case are really just the cancellation of tax cuts anyway). So after starting strong, the Republicans seem to have fallen into simple and completely irresponsible intransigence.
 
It strikes close to home for me, the issue of drugs. I have seen so many people utterly destroyed by them, and I can't understand how they could ever be a good thing except when used medicinally.

I guess we will just agree to disagree, my good friend. Everyone has differences of opinion, and I happily respect yours too.
 
That is the problem, you're absolutely right. The real problem though is the citizens of this country not doing anything about it.

People should not have the right to directly vote for everything. They're not smart enough. No. They're not smart enough. I'd say most Americans couldn't even name more than 2 or 3 amendments and you want them to vote on everything? Horrible idea.

Politicians are getting out of control, and what will happen is this country will just end up collapsing and we'll have to start over, or we'll have a revolution, or we'll smarten up and elect Ron Paul.
 
Great post. I disagree about there being no quick fix, though. There absolutely is one. Just no one in power would be interested in doing it.

Call all monetary contributions and gifts what they really are...bribes. Make all of it illegal. To the parties, the individual politicians, all of them. Then make campaigns for federal office be under equal public funding.
 
Too bad their intention wasn't for the most marketable and personally-arabitious-at-the-expense-of-having-a-soul to rule as pawns of the wealthy at the expense of the unwashed masses. We'd be right on track.
 
Back
Top