Quote:
Originally Posted by d-ray657
Chas, maybe you can help me understand a couple of things.
First, do you believe that predictions of severe financial repercussions as a result of the refusal to raise the debt limit are overstated?
How serious, if at all, would be the consequences of failing to increase the debt limit?
Explain this in simple terms, I'm not an economist.
But, if the consequences of missing the debt limit deadline are severe, is it in any way responsible governance to threaten such consequences simply to revisit a battle that has been lost again and again?
If you were in the shoes of the President, would you be willing to negotiate under these circumstances?
Regards,
D-Ray
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You sly devil.
To start with, we have something in common, neither of us are economists. I deal in general theory, drawn from what I consider to be rational thought based on my personal empirical experiences.
In other words, I am only submitting my observations and conclusions based on my limited knowledge. I am not attempting to pass myself off as a false authority.
I'll leave that to those who know all of the answers.
Heading West.
I don't see that the United States has an alternative but to increase the debt limit. It's the rules of the game. The really smart guys say the should we default on our obligations, it will crash the market, raise interest rates, increase unemployment, possibly endanger the dollar as the reserve currency, etc, etc.
And as much as I despise the really smart guys, who I figure had more than a little to do with bringing to this point, I suspect that they are correct.
Switching gears.
Look at just how much goods and services you could buy with one Yankee dollar in 1913 as opposed to 2013. My point is, our currency, which is the means of trading the sweat of our brow, is being devalued.
Now that's too kewl for skool it you're in debt, you're paying back the sweat of someone's brow with devalued currency. Now if you're some dumb bastard such as myself, who is trying to save, and invest...they're stealing your undershorts.
It's currency manipulation, and dumb fucks such as ourselves may get lucky and win a time or two...but it's still like going to Vegas. The house sets the odds, and you will lose in the long run.
In conclusion.
It's the only game in town, and you have no choice but to play. With the guys who are controlling the magnets under the roulette wheel.
But since it's the only game in town, shouldn't we be trying to increase our odds by attempting to control the excessive waste of the Federal Government, and even applying a sort of means testing to the regulations that they, excuse my French, pretty much pull out of their asses to support their chosen agenda?
My disclaimer.
The world is overpopulated, and we're entering the robot age. Even I will admit that the age of fossil fuels will end...like it or not.
And if I were one of our masters, I would give a certain amount of credence as to the only salvation of mankind is to kill app 75% of the population.
BTW, if I were Obama, I wouldn't fold to the Pubbies, unless the winds of public opinion changes...and he's holding all of the cards at the moment.
The dumb shits have put themselves in a no win situation almost as bad as he put himself in over Syria.
I'm outta gas.
Chas