bush_cheney2004 Posted July 27, 2011 Report Share Posted July 27, 2011 But not at the government level, that needs to be done by the Fed. If interest rates raise on the debt for the country it wont lead to an interest rate increase by the fed. You know that right? You are conflating different issues. European central banks have already moved on this because they can't play games like the Fed. With interest rates already near zero, we got rounds of quantitative easing instead. Marvelous. Quote Link to comment Share on other sites More sharing options...
punked Posted July 27, 2011 Report Share Posted July 27, 2011 (edited) You are conflating different issues. European central banks have already moved on this because they can't play games like the Fed. With interest rates already near zero, we got rounds of quantitative easing instead. Marvelous. That is the role of a Central Bank. Slashing Japans Credit rates did not bring the country to lower its Central credit rates because of high unemployment and slow growth. All a credit downgrade will lead to is more interest to be paid as long as unemployment stays high and inflation below 3-4% the Central Bank will not raise credit rates. They are two different things which are linked but in a large way. Edited July 27, 2011 by punked Quote Link to comment Share on other sites More sharing options...
bush_cheney2004 Posted July 27, 2011 Report Share Posted July 27, 2011 ... All a credit downgrade will lead to is more interest to be paid as long as unemployment stays high and inflation below 3-4% the Central Bank will not raise credit rates. They are two different things which are linked but in a large way. I don't care if more interest has to be paid...the "liquidity trap" can not be avoided forever. Time to shake out the weak hands. Quote Link to comment Share on other sites More sharing options...
Shady Posted July 27, 2011 Report Share Posted July 27, 2011 Suprise, suprise. It turns out the federal government is sitting on some extra cash.Thanks to an inflow of tax payments and maneuvering by the Treasury Department, the government can probably continue to pay all of its bills for several days after Aug. 2, providing potentially critical breathing room for Congress to raise the debt ceiling, according to estimates by several Wall Street banks and a Washington research organization. The consensus is that the government will not run short of money until Aug. 10, when it would be unable to cut millions of Social Security checks without borrowing more money. Link Just like we've been saying all along. Quote Link to comment Share on other sites More sharing options...
bush_cheney2004 Posted July 27, 2011 Report Share Posted July 27, 2011 ...Just like we've been saying all along. Golly....you're ruining all the drama! Quote Link to comment Share on other sites More sharing options...
Shady Posted July 27, 2011 Report Share Posted July 27, 2011 Don't like The New York Times? How about The Washington Post then? As of Friday, according to the Treasury, the government had $85 billion in cash.UBS estimates that the government will run out of money to pay its bills starting no sooner than August 8th. Barclay's suggests August 10th. Wells Fargo securities said the government might have to cut back on some spending but could pay most of its bills through August. Link Fact is, this is another manufactured crisis in order to give Obama another blank check. Just like he had with the stimulus, and Obamacare. Hurry up and pass it before we sse what's really in it. He can go screw himself as far as I'm concerned. Quote Link to comment Share on other sites More sharing options...
Shady Posted July 27, 2011 Report Share Posted July 27, 2011 Golly....you're ruining all the drama! I like to pound the crap outta drama! Quote Link to comment Share on other sites More sharing options...
punked Posted July 27, 2011 Report Share Posted July 27, 2011 I don't really see your point Shady? S&P warned today that Aug is the cut off date and if the Government starts prioritizing debt payments it will lead to some pretty bad things. I know they are no news paper reporters they are just one of the three huge credit companies which this whole thing is about so who cares what they say right? Seriously Shady your guys are the one playing games putting things up for votes then pulling them from the table, not having the votes to pass even their own plan. It is just silly. Maybe why the majority of Americans Blame them for this whole thing. Quote Link to comment Share on other sites More sharing options...
Yukon Jack Posted July 27, 2011 Report Share Posted July 27, 2011 August 2nd will NOT be Armageddon in the United States, if the debt ceiling debate is not resolved. But it will be in my house if I forget that it is our 42nd wedding anniversary. Quote Link to comment Share on other sites More sharing options...
Oleg Bach Posted July 27, 2011 Report Share Posted July 27, 2011 Interest rates need to go up to stave off inflation and remove the false cushion for banks. The financial "cleansing" is not complete. What is a political class in "your country"? Thanks for putting it in plain and informed language. "False cushion' in other words a very large and levered padded account that is useless and dishonest not to mention floating in la la land. It is and outrage that a fine nation like America has to kiss Asian ass were torture - oppression and the communistic high archy live like robber barons who would kill you as much as look at you...America has to get back to being respectable and not let money rule the moral roost. Quote Link to comment Share on other sites More sharing options...
bush_cheney2004 Posted July 27, 2011 Report Share Posted July 27, 2011 ...Seriously Shady your guys are the one playing games putting things up for votes then pulling them from the table, not having the votes to pass even their own plan. It is just silly. Maybe why the majority of Americans Blame them for this whole thing. The "majority" of voting Americans sent those folks to the House to do exactly that....STOP BUSINESS AS USUAL. Quote Link to comment Share on other sites More sharing options...
punked Posted July 27, 2011 Report Share Posted July 27, 2011 The "majority" of voting Americans sent those folks to the House to do exactly that....STOP BUSINESS AS USUAL. I agree they can vote however they want and then answer for those votes to the American public. That is democracy. I have never taken issue with that BC and I don't know why you would insinuate such a thing. Quote Link to comment Share on other sites More sharing options...
Oleg Bach Posted July 27, 2011 Report Share Posted July 27, 2011 The "majority" of voting Americans sent those folks to the House to do exactly that....STOP BUSINESS AS USUAL. Woke up this morning feeling miserable about the world - I guess surpressed rage makes you sick - time for people to stand up and tell their representatives that they are tired and sick of dishonest and oppresive fiscal policy that drives you into the ground - the whole system needs to be made honest again - I don't care if it never was - there has to be a first time....People have to understand that the quality of life is suffering and we are all under some creepy pressure that simply should not exist - clean house! Speak up! AND stop encouraging dellusional crooks to continue with bad fiscal management...when debt forms - it is not the guy sitting in the big chair that suffers - It is the millions of others who take the brunt...The persuit of happiness is being impaired by idiots - and we let them go on and on and on...let the whole damned thing fall apart...and start from scratch - America will survive and truely prosper again instead of faking prosperity. They are like people that were rich keeping up appearances for ego centric reasons - sorry - rich folks - you are also broke. Now do something about it or get out of the way. Quote Link to comment Share on other sites More sharing options...
pinko Posted July 27, 2011 Report Share Posted July 27, 2011 (edited) This phony debt crisis has now passed through the looking glass into the realm where madness reigns. What should have been an uneventful moment in which lawmakers make good on the nation's contractual obligations has instead been seized upon by Republican hypocrites as a moment to settle ideological scores that have nothing to do with the debt. Hypocrites, because their radical free market ideology, and the resulting total deregulation of the financial markets, is what caused the debt to spiral out of control this last decade. That and the wars George W. Bush launched but didn't have the integrity to responsibly finance. The consequence was a banking bubble and crash leading to a 50 percent run-up of the debt that has nothing to do with the "entitlements" that those same Republicans have always wanted to destroy. http://www.huffingtonpost.com/robert-scheer/debt-madness-was-always-a_b_910543.html?utm_source=DailyBrief&utm_campaign=072711&utm_medium=email&utm_content=BlogEntry&utm_term=Daily%20Brief Edited July 27, 2011 by pinko Quote Link to comment Share on other sites More sharing options...
bush_cheney2004 Posted July 27, 2011 Report Share Posted July 27, 2011 This phony debt crisis.... Dude...you didn't post anything...just cut and paste from a web site. Forum rules seem to be a challenge for you, eh? Quote Link to comment Share on other sites More sharing options...
pinko Posted July 27, 2011 Report Share Posted July 27, 2011 Dude...you didn't post anything...just cut and paste from a web site. Forum rules seem to be a challenge for you, eh? You can choose to respond or not. Maybe the point of view offered in the article isn't to your liking. Quote Link to comment Share on other sites More sharing options...
bush_cheney2004 Posted July 27, 2011 Report Share Posted July 27, 2011 You can choose to respond or not. Maybe the point of view offered in the article isn't to your liking. The article was fine...but we want to know what you think about it...your hopes...your dreams...your fears. We want to know the impact on....Winnipeg!!! Quote Link to comment Share on other sites More sharing options...
pinko Posted July 27, 2011 Report Share Posted July 27, 2011 The article was fine...but we want to know what you think about it...your hopes...your dreams...your fears. We want to know the impact on....Winnipeg!!! Well don't be shy just ask. Quote Link to comment Share on other sites More sharing options...
Shady Posted July 27, 2011 Report Share Posted July 27, 2011 Apparently if you don't agree with Al Franken on the debt ceiling, you're now a terrorist! Gotta love the new tone. Oh wait, the new tone only applies to Republicans and Conservatives. How silly of me. Quote Link to comment Share on other sites More sharing options...
Shady Posted July 27, 2011 Report Share Posted July 27, 2011 Hypocrites, because their radical free market ideology, and the resulting total deregulation of the financial markets Complete nonsense and babble. There is no real free market. And there certainly wasn't any total deregulation of the financial markets. The financial industry is one of the most highly regulated portions of the economy. To say that anything in the financial industry was deregulated under Bush is a complete and utter lie. And it also absolves the real culprits in the financial meltdown. The government, and specifically, government intervention. Forcing banks to loan money to people that can't afford it may make liberals feel warm and fuzzy, but its terrible business, and terrible policy. And those chickens came home to roost. It's just another example of the unintended consequences of good intententions. It's almost Orwellian when a disaster brought upon us by government policies and regulation, is then blamed on the a lack of policies and regulation. It was the free market that was completely distorted by these ridiculous feel-good regulations. And now you wanna blame a lack of regulation? What's wrong with your brain? Freddie Mac and Fannie Mae anyone? Quote Link to comment Share on other sites More sharing options...
dre Posted July 27, 2011 Report Share Posted July 27, 2011 Complete nonsense and babble. There is no real free market. And there certainly wasn't any total deregulation of the financial markets. The financial industry is one of the most highly regulated portions of the economy. To say that anything in the financial industry was deregulated under Bush is a complete and utter lie. And it also absolves the real culprits in the financial meltdown. The government, and specifically, government intervention. Forcing banks to loan money to people that can't afford it may make liberals feel warm and fuzzy, but its terrible business, and terrible policy. And those chickens came home to roost. It's just another example of the unintended consequences of good intententions. It's almost Orwellian when a disaster brought upon us by government policies and regulation, is then blamed on the a lack of policies and regulation. It was the free market that was completely distorted by these ridiculous feel-good regulations. And now you wanna blame a lack of regulation? What's wrong with your brain? Freddie Mac and Fannie Mae anyone? Sorry but if you did even 10 minutes in honest research you would realize thats all horseshit. Virtually all the big players in the sub prime meltdown were either thrifts, trusts, or pure mortgage companies. Most of them didnt even accept FDIC insured deposits and were exempt from government regulation, and exempt from the CRA, etc etc. The root of the problem was over-securitization and while its true that Fanny and Freddy played a part in this, the reality is that in the years leading up the crisis their share of total securitization was shrinking fast, and the majority of mortgages were being securitized by investment banks. Quote Link to comment Share on other sites More sharing options...
William Ashley Posted July 27, 2011 Report Share Posted July 27, 2011 (edited) Well greece was just downgraded to CC today (cc=pwned for those not in the know .. I'm currious to see what the US comes up with over the next week. It sounds like the house doesn't have a deal that the senate would be koshure with just yet. Also the premise of 800 Billion to 1.2 Trillion in cuts in government spending really has me wonder where the heck those cuts are coming from, and what happens this time next year. Be back in a week if the bacon is still cookin'. It is startling to have both the EU and US raising the issue at the same time. Because if either goes the other will be hit, and if both go it will be more impactive on the system. But I am still waiting to see what happens over the week and what the situation will be on the 3rd. Edited July 27, 2011 by William Ashley Quote Link to comment Share on other sites More sharing options...
punked Posted July 28, 2011 Report Share Posted July 28, 2011 Well greece was just downgraded to CC today (cc=pwned for those not in the know .. I'm currious to see what the US comes up with over the next week. It sounds like the house doesn't have a deal that the senate would be koshure with just yet. Also the premise of 800 Billion to 1.2 Trillion in cuts in government spending really has me wonder where the heck those cuts are coming from, and what happens this time next year. Be back in a week if the bacon is still cookin'. It is startling to have both the EU and US raising the issue at the same time. Because if either goes the other will be hit, and if both go it will be more impactive on the system. But I am still waiting to see what happens over the week and what the situation will be on the 3rd. The Republican "Plan" that Shady loves so much only cuts 12 Billion for the next three years out. That means it cuts half a days worth of spending. It is just smoke and mirrors. Quote Link to comment Share on other sites More sharing options...
Sir Bandelot Posted July 28, 2011 Report Share Posted July 28, 2011 Google it? Yah the net is full of reality and true and firm historic facts - You can't google your life away and expect this machine to become your memory..you have to accumulate information and hold it in the real and superiour machine - called a mind. Quote Link to comment Share on other sites More sharing options...
Shady Posted July 28, 2011 Report Share Posted July 28, 2011 The Republican "Plan" that Shady loves so much only cuts 12 Billion for the next three years out. And yet Democrats still accuse them of "draconian cuts." I'm glad Republicans have at least set the agenda for actually cutting spending. A few short months ago, Obama and the Dems wanted a debt ceiling increase without any cuts at all. My how things have changed! Quote Link to comment Share on other sites More sharing options...
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