Thanks for the info. Shows that it's out there, people just need to quit being lazy and look.
stopped reading after it said "to the brink of financial default" not raising the debt ceiling will not result in default. it's unbelievable how uneducated some people are. if they were honest, I might have read it.
Thanx, Lam for the posting this up. But I couldn't read this shit cause it's and those R's are calamitous!
The US Treasury wouldn't be able to issue anymore debt via bonds/notes and would actually have to start making payments to bondholders, the top priority of those that hold US debt. The fact is there is no system in place as to the prioritization of payments so what type of cluster fuck do you think that would result in?
And the long term effects of investors losing the safety of buying debt not knowing if they are going to get paid the interest they are due?
Thx LAM..... 'the rick get richer'... and so it goes.
you still don't get it. we need a depression or mass recession to reset the economy to get rid of all the bad investments. a default is actually a good thing and I hope it happens sooner than later. the more we continue on this destructive path the worst the crash will be. you can't have zero percent interest rates, endless printing of money with massive debt. it created huge bubbles in the housing, stock and bond markets that's going to pop soon, maybe even during obamas rein of terror. And he's the last personal I'd want at the helm when this ship sinks.
I will restate the major problem once more so your 1 brain cell can understand it. There is no model to prioritize payments on a default which means the elderly that rely on social security may or may not get paid, bond holders from pension funds may or may not get paid. The elderly in the US represent about 14% of the total population.
The de-leveraging process in the US isn't even close to being completed so basically your "plan" would be to cause the restructure at the worst possible time in US economic history vs waiting another 5-8 years until household to GDP debt ratios are restored back to historic averages. And you call yourself understanding economics!
:roflmao: :roflmao: :roflmao: :roflmao:
Any other realy bad fucking ideas coming out of that defunct brain in your head. Do you know how many economists in the globe have called for Your plan of action, ZERO. Gee I wonder why that is.
you think we can hold off for 5-8 years? lmao!!!!!!!! the crash will come sooner and there's nothing anyone can do about it. And you think we can choose when we want the crash to come? LOL!!!!!!!!!!!!! wow! I did think you were smarter than that but you proved me wrong.