Conquer Club

This is the key question. Who will benefit? Follow that, and you will see the real reason there won't be a solution.

HINT:.. it isn't us!

1. Eric Cantor.
2. The Arabs.
3. The Swiss.

Soros
Obama
Fox News

Player, it's a moot issue; we won't default and the fed won let it happen. The ramifications are too big worldwide. They have plenty of money on hand to take care of business. Don't fall into the hype.

codeblue1018 wrote:Player, it's a moot issue; we won't default and the fed won let it happen. The ramifications are too big worldwide. They have plenty of money on hand to take care of business. Don't fall into the hype.

You have more faith in Congress than I....

PLAYER57832 wrote:

codeblue1018 wrote:Player, it's a moot issue; we won't default and the fed won let it happen. The ramifications are too big worldwide. They have plenty of money on hand to take care of business. Don't fall into the hype.

You have more faith in Congress than I....

It's not that I have faith Player; it's that they all know this can't happen. Just like with any negotiating, because let's not kid ourselves, this is negotiating, something at the last minute will occur whether it's an extension etc; the default will not happen. If it's any concellation, I have zero faith in congress. As dumb as they are, theyre smart enough to know the ramifications of allowing a default to occur.
If the federal government was a business as the term means, they would be bankrupt and closed.

There might be an extension, but that will just kick "the can" down the road. In the meantime, the markets are already responding.. which is why I say that is the real reason for this whole thing.

aad0906 wrote:1. Eric Cantor.
2. The Arabs.
3. The Swiss.

Cantor will look like an irresponsible fool.

The Gulf Arabs' economy is dollar-denominated. the Saudi, Kuwait and UAE currencies are pegged to the US$. They will lose big.

The Swiss?!? don't think so, people will go to them to fill the global financial gap.

Phatscotty wrote:Soros
Obama
Fox News

If Soros is still shorting the US$, he will win.

Obama too, the blue hair crowd in Florida is not going to like having their SS or Medicare messed with...

Fox: see above.

PLAYER57832 wrote:This is the key question. Who will benefit? Follow that, and you will see the real reason there won't be a solution.

HINT:.. it isn't us!

8/2 isn't truly a Hard deadline. There is no automatic default on 8/2. So if there is no fix till late next week or even the week following it's not the end of the world.

That said... If there is a true default and this continues without a fix for a month or more, there are no "winners" here... we all lose.

codeblue1018 wrote:

PLAYER57832 wrote:

codeblue1018 wrote:Player, it's a moot issue; we won't default and the fed won let it happen. The ramifications are too big worldwide. They have plenty of money on hand to take care of business. Don't fall into the hype.

You have more faith in Congress than I....

It's not that I have faith Player; it's that they all know this can't happen. Just like with any negotiating, because let's not kid ourselves, this is negotiating, something at the last minute will occur whether it's an extension etc; the default will not happen. If it's any concellation, I have zero faith in congress. As dumb as they are, theyre smart enough to know the ramifications of allowing a default to occur.
If the federal government was a business as the term means, they would be bankrupt and closed.

It's not like we haven't had government shutdowns before. It's one thing to threaten to do it, it's another thing once it actually happens and people stop getting unemployment checks. Then, they get pissed. And politicians change.

spurgistan wrote: It's not like we haven't had government shutdowns before. It's one thing to threaten to do it, it's another thing once it actually happens and people stop getting unemployment checks. Then, they get pissed. And politicians change.

We have had government shutdowns, sure. We have never had a default. A default means we don't pay bills already due, that the US has already agreed to pay.

This is not about future costs or the budget. And, I believe the Tea Partiers are just idiotic enough to push for it.

PLAYER57832 wrote:

spurgistan wrote: It's not like we haven't had government shutdowns before. It's one thing to threaten to do it, it's another thing once it actually happens and people stop getting unemployment checks. Then, they get pissed. And politicians change.

We have had government shutdowns, sure. We have never had a default. A default means we don't pay bills already due, that the US has already agreed to pay.

This is not about future costs or the budget. And, I believe the Tea Partiers are just idiotic enough to push for it.

There is something of a difference, yes, and don't get me wrong, having our debt rating downgraded from AAA would be really not helping the general recovery process (as well as leading to 100 billion/year in additional government spending rar oh no Obama) and it will be around 80% the fault of Republicans, in my totally imbalanced estimation. But still, I feel like when Americans get to be really hurt by this, it'll stop. That's usually the way it works. I guess I'm an optimist?

Obama will be the one who benefits because the media is constantly feeding his lie that we WILL default. If the country defaults, it's because of HIM, not because of Congress. Yet the only thing that comes from him (and what the media trumpets) is that there will be a default if the Republicans don't compromise. If there is a default, it's because HE CHOSE not to pay the interest on our debt, but he'll scape goat it like everything else.

Night Strike wrote:Obama will be the one who benefits because the media is constantly feeding his lie that we WILL default. If the country defaults, it's because of HIM, not because of Congress. Yet the only thing that comes from him (and what the media trumpets) is that there will be a default if the Republicans don't compromise. If there is a default, it's because HE CHOSE not to pay the interest on our debt, but he'll scape goat it like everything else.

Good to see that you are not wearing blinkers or anything -

Night Strike wrote:Obama will be the one who benefits because the media is constantly feeding his lie that we WILL default. If the country defaults, it's because of HIM, not because of Congress. Yet the only thing that comes from him (and what the media trumpets) is that there will be a default if the Republicans don't compromise. If there is a default, it's because HE CHOSE not to pay the interest on our debt, but he'll scape goat it like everything else.

It is frightening that there are people who actually believe this.

player are you suggesting that the Tea Party loony fringe within the republishit party aren't american?

Woodruff wrote:

Night Strike wrote:Obama will be the one who benefits because the media is constantly feeding his lie that we WILL default. If the country defaults, it's because of HIM, not because of Congress. Yet the only thing that comes from him (and what the media trumpets) is that there will be a default if the Republicans don't compromise. If there is a default, it's because HE CHOSE not to pay the interest on our debt, but he'll scape goat it like everything else.

It is frightening that there are people who actually believe this.

I know, maybe the President should stop using scare tactics and start living in reality if he wants to get a deal done. It's hard to negotiate with someone whose only public comments rely on blaming others for HIS decisions.

BoganGod wrote:player are you suggesting that the Tea Party loony fringe within the republishit party aren't american?

They are as American as McCarthy.

PLAYER57832 wrote:

BoganGod wrote:player are you suggesting that the Tea Party loony fringe within the republishit party aren't american?

They are as American as McCarthy.

Paul is English.

Oh.. and GFY.

Night Strike wrote:

Woodruff wrote:

Night Strike wrote:Obama will be the one who benefits because the media is constantly feeding his lie that we WILL default. If the country defaults, it's because of HIM, not because of Congress. Yet the only thing that comes from him (and what the media trumpets) is that there will be a default if the Republicans don't compromise. If there is a default, it's because HE CHOSE not to pay the interest on our debt, but he'll scape goat it like everything else.

It is frightening that there are people who actually believe this.

I know, maybe the President should stop using scare tactics and start living in reality if he wants to get a deal done. It's hard to negotiate with someone whose only public comments rely on blaming others for HIS decisions.

Again, it is frightening that there are people who actually believe this is the situation.

Woodruff wrote:

Night Strike wrote:

Woodruff wrote:

Night Strike wrote:Obama will be the one who benefits because the media is constantly feeding his lie that we WILL default. If the country defaults, it's because of HIM, not because of Congress. Yet the only thing that comes from him (and what the media trumpets) is that there will be a default if the Republicans don't compromise. If there is a default, it's because HE CHOSE not to pay the interest on our debt, but he'll scape goat it like everything else.

It is frightening that there are people who actually believe this.

I know, maybe the President should stop using scare tactics and start living in reality if he wants to get a deal done. It's hard to negotiate with someone whose only public comments rely on blaming others for HIS decisions.

Again, it is frightening that there are people who actually believe this is the situation.

Agreed.

The purse strings are controlled by Congress, if or when, there is a default the blame will lie squarely on those who work in the Capitol Building. Both the Republicans and the Democrats are being equally asinine. Anyone who thinks that their party of choice is in the right, is severely deluded. Ultimately it is fault of us, the voting public, because we kept sending these idiots back to Congress.

We have allowed ourselves to bribed in one way or the other. Some people were bought by promises of helping the poor, well after 40 plus years, poverty is still abundant, and in some cases getting worse. Some were bought by promises of lower taxes, which they are lower, but there are so many more of them now than there were. Some were bought by promises of handouts, which they are getting, but have their lives improved any? None of us thought to ask what is the price of all of this.

We allow the politicians to just issue vapid sound-bites, without checking to see if there is any substance. Worse yet, we vote based on these sound-bites. " A vote for me is a vote for jobs." Sounds good, right? Well did you ask how he was going to create/save those jobs? Or did you believe him just because he has an R or a D behind his name? How many people do you know would never vote for the best person simply because they are from the wrong party. "I've voted Democratic/Republican for forty years and would never vote for the other."

The President while powerful can only do so much without the approval of Congress. Of course it is all to easy to just blame the President/Republicans/Democrats since the vast majority of Americans are totally ignorant of how the Government works. The most important civic duty any citizen has is to vote, and yet they have no idea what they are voting for. They don't know the Constitution, they are "too busy" to actually learn about who they voting for. They are too apathetic to read about the issues, and whether or not the promises made on the campaign trail will actually do anything. It is we, the ignorant voter, that is to blame for this mess by sending same greedy cardboard cutouts back to Washington DC time and again.

You want to fix this. Stop throwing invectives at each other simply because of their party affiliation. Stop shouting and listen to the other person for a minute, they might actually have a good idea. Vote for the best candidate for an office, regardless of their political party. Don't just go on who media is touting as the leading (blank) candidate, check out the rest of the field. Don't forget there are actually several political parties in this country not just two. If neither the Republican or Democratic parties are offering what you want check out the Libertarian, Constitutional, Green, Socialist, Communist, Independent, etc party. Maybe these smaller parties don't have a chance of ever getting elected, but if they get enough votes they can affect the debate.

I will benefit if there's a default. Actually, I'm already doing so as all the gold bullion that I bought when gold was at the spot price of around $1,400 has now gone up to somewhere around $1,700 - $1,800 per 1 ounce coin. It depends on the store. My silver proof coins have also gone up. I've already made a few phone calls to various dealers who've made some offers so I'll have to decide if I want to go ahead and sell now or wait until the economy becomes worse.

Anybody here buy platinum or palladium coins? I'm not sure if I can turn them around for a profit like gold and silver. I see a new thread subject developing...

check this out:

http://etfdailynews.com/2011/07/25/inve ... et#caption

excerpts:

Someone dropped a bomb on the bond market Thursday – a $1 billion Armageddon trade betting the United States will lose its AAA credit rating.

In one moment, an invisible trader placed a single trade that moved the most liquid debt market in the world.

...with a single push of a button someone was willing to commit more than $1 billion of real capital to this trade with expectations of a 10-to-1 return ratio.

You only do this if you see an edge.

This means someone is confident that the United States is either going to default or is going to lose its AAA rating. That someone is willing to bet the proverbial farm that U.S. interest rates will be going up.

PLAYER57832 wrote:

BoganGod wrote:player are you suggesting that the Tea Party loony fringe within the republishit party aren't american?

They are as American as McCarthy.

The Tea Party are the only ones trying to get a solution to the debt problem.

Everyone else is kicking the can down the road.

Since when is "living withing your means" loony? Yet the gov't spending twice as much as they take in is not loony?