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Robert Winner

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Debt Ceiling Crisis

For the last few months I have bee successfully guided away from the elephant in the room and very concerned with the fisical cliff ... which is important granted.

The part of the package that the Administration is holding dear to is .... an administrative right to total control of the debit ceiling with no Congressional input or guidance.

At issue is that the government is spending more than is coming in ... Repbs want to reduce the government and balance the budget .... Demos want to have unrestricted spending and lower taxes thus less coming and more going out.

I think this is the key issue in fisical cliff talks and has not been addressed to the public in the manner it deserves.

What do you think?

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    Jan 3 2013: So the corrupt bastards (Republicans) did it again. They are not rearranging the deck chairs on the Titanic they are going into the wheel house and giving the full speed ahead command.

    The one small hope we could have is gridlock. They did NOTHING about the spending. It is seriously time to fire all republicans and all democrats and vote in real libertarians (Ron Paul) the rest are putrid scum.
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      Jan 3 2013: I could watch the first but not the 2nd vid, it was great and sad but not surprising as it only highlights that in all government bodies there is the Patron system still in effect somewhere in some form. The thing that gets me is why didn't America go na na over this at the time?

      TL's right, inflation hasn't hit yet. What do you think?

      Pat. How strong are the lobby groups? especially the foreign backed groups, Can they influence or have influenced the current decisions?

      Here's a link that's way off topic and it might be conspiracist rubbish but i lived through those times as a kid so, I didn't actually pay any attention to any of it except it's quite in depth.

      http://www.veteranstoday.com/2012/12/31/david-rockefeller-the-looting-of-iran/

      I spoke to a Kiwi ex pat that currently resides in California and she said to me that they are thinking of moving to Canada or Mexico, Do you think that there could be a rush to get out?
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        Jan 3 2013: I don't know it seems like there should be hyperinflation. I guess it is because the money is used mostly to bail out banks and keep the price of housing artificially high, otherwise the banks assets would not have enough value to meet their fractional reserve requirements.

        We Americans are so naive and ignorant, but what country is not? Yea this insider trading thing should land some heads on some spears. Starting with Pelosi.

        I guess when things are good people shrug their shoulders?

        I don't think Mexico would be a good choice but certainly Canada or places in the U.S. that are not as prone to violence as So Calif.

        I mostly look to the Austrian school on this subject they are saying the 2 big bubbles right now are bonds and healthcare. So by deduction is that when Bernanke has to start paying more than 1.5 percent on the bonds (borrowing) that just debt service will be 30% of the revenue and that is when the shit will hit the fan.
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          Jan 4 2013: Pat I took this out of an article. "The bill delays for two months tough decisions about automatic spending cuts that were set to kick in Wednesday."

          I think the intention is to link the cuts into the Debit Ceiling deals.

          However your feelings are echoed by many from both parties and are reflected in many articles I have read.

          I have heard that some of the ratings agencies are posed to reduce the US credit rating yet again and that would mean that the perfered rate of 1.5% would now be 10% or higher depending on the new rating.

          Obama has already drawn a line in the sand of what he will and will not do ... just like the fisical cliff talks ..... and made comments that the GOP is to blame ... all this even prior to the talks. Politics first and America last .. another media circus enroute.

          The problem is that the man on the street is clueless about the issues. There is little attempt to educate the public ... keep them in the dark and feed them crap ... the old mushroom theory.

          I do not see the exit of people as much as money going out of country soon. Is there a way to view or track that that we have access to?
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        Jan 4 2013: Not that I know of but is absolutely part of the zeitgeist I live in.

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