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brodyheisman
10-14-2013, 12:49 PM
We are three days away from diving into complete and udder chaos as a nation. This default will effect almost everyone in every country around the world if it does in fact happen. Better head to your banks and get all your cash out, in the event it does happen dont get caught in the panic..If this is going to happen this is exactly how the goverment and media would handle it as to not incite panic. Three days away. Use your heads, stay safe

illriginalized
10-14-2013, 01:00 PM
lol.. Hey... I've been promoting the converting of paper **** money to gold and silver and I've been prepping for nearly 2 years now, especially all of this year.

You idiots want to believe in the idea that America is too great to fail? Yeah.. so did the Romans.

Enjoy. Oh and don't come 'round my region if and when chit hits the fan, go beg your man-gods in D.C. for food and shelter lulz

TaeBoNinja
10-14-2013, 01:04 PM
nothing will happen

brodyheisman
10-14-2013, 01:07 PM
lol.. Hey... I've been promoting the converting of paper **** money to gold and silver and I've been prepping for nearly 2 years now, especially all of this year.

You idiots want to believe in the idea that America is too great to fail? Yeah.. so did the Romans.

Enjoy. Oh and don't come 'round my region if and when chit hits the fan, go beg your man-gods in D.C. for food and shelter lulz

America has already failed years ago. Its failure has been hiddin by market manipulation and debt capitulation. One day the music will stop playing the game will end. Or who knows maybe Obama will save us all and give his life to pay for all of our debts..


Cliffs: Obama is black jesus

brodyheisman
10-14-2013, 01:08 PM
nothing will happen

So everything is just fine? You do understand the longer we go without defaulting the worse it will be? The debt doesnt just vanish

Flakker
10-14-2013, 01:10 PM
So everything is just fine? You do understand the longer we go without defaulting the worse it will be? The debt doesnt just vanish

We're not going to default.

We have enough tax receipts to service all of our debt and then some.

So please, stfu.

illriginalized
10-14-2013, 01:16 PM
We're not going to default.

We have enough tax receipts to service all of our debt and then some.

So please, stfu.

We default every time we raise the debt ceiling.. You do understand what that means right.

Each, "raising of the debt ceiling" is like pulling out a new credit card. You then use that new credit card to pay the debt you owe on the previous credit card.

That is what defaulting is. When you literally have no money, you're now borrowing (getting into more debt) to pay off another debt.

ToPHeR35
10-14-2013, 01:20 PM
Looks like the MSM fear mongering is getting to people....

aberry33
10-14-2013, 01:30 PM
We're not going to default.

We have enough tax receipts to service all of our debt and then some.

So please, stfu.

First two posts in this thread need to slow down on the adderall for sure.

dizzin9
10-14-2013, 01:31 PM
aware me?

Tekkendo
10-14-2013, 01:32 PM
aware me?

the sky is falling; pray to obama

Flakker
10-14-2013, 01:37 PM
We default every time we raise the debt ceiling.. You do understand what that means right.

Each, "raising of the debt ceiling" is like pulling out a new credit card. You then use that new credit card to pay the debt you owe on the previous credit card.

That is what defaulting is. When you literally have no money, you're now borrowing (getting into more debt) to pay off another debt.

But we're not borrowing to pay off our debt. We have enough cash influx to service our debt. That's not default.

Flakker
10-14-2013, 01:43 PM
aware me?

We're about to hit the debt ceiling (I would argue that we've already passed it back in the summer).

US government can't seem to reach an agreement to raise it.

If we hit the debt ceiling in a couple of days then the government will actually start to shut down until we're left with the cash that's coming in.

Something like 60% or 70% of the cash that comes in will go right back out to pay interest on our loans. (Thus we don't default like the cousin-counters in this thread suggest)

The rest will go to funding john boner, reed and obamas "Fabulous 2013" cruise in the bahamas organized by the LBGTQ community.

TreFo
10-14-2013, 04:25 PM
http://ageoftruth.dk/wp-content/uploads/2012/07/Illuminati-dollar_tower1.jpg


it's just them @ it again

illriginalized
10-14-2013, 04:38 PM
But we're not borrowing to pay off our debt. We have enough cash influx to service our debt. That's not default.

lol.. so we're 17 trillion dollars in debt.
The government has to shut down because it can't sustain itself due to its over size.. and the only way the government can properly run is by demanding that they get a bigger credit limit. Thus further putting us into debt.



Ron Paul:
dOEbw0EMt98

So lets say we're not borrowing from another bank.. are you saying that we're going to have to use inflation (increased inflation) in order to pay our debts?

nutsy54
10-14-2013, 05:01 PM
So everything is just fine? You do understand the longer we go without defaulting the worse it will be? The debt doesnt just vanish
Do you understand that required debt payments are only 8% of all revenue routinely coming into the government? The only "default" will be if a moronic President orders a default on our debt, despite having plenty of money to cover the payments.

GregariousWolf
10-14-2013, 05:02 PM
Udder chaos.

nutsy54
10-14-2013, 05:02 PM
lol.. so we're 17 trillion dollars in debt.
Irrelevant to the statement you quoted. There is plenty of revenue to service the debt.


The government has to shut down because it can't sustain itself due to its over size..
Wrong. It shut down because both parties couldn't agree on a budget.

Flakker
10-14-2013, 05:03 PM
lol.. so we're 17 trillion dollars in debt.
The government has to shut down because it can't sustain itself due to its over size.. and the only way the government can properly run is by demanding that they get a bigger credit limit. Thus further putting us into debt.

So lets say we're not borrowing from another bank.. are you saying that we're going to have to use inflation (increased inflation) in order to pay our debts?

The government is shut down because Congress failed to pass a budget or CR, not because we're out of money.

To do everything currently under law, yes, we must borrow money.

To pay our debts we do not need to borrow money.

Paying debt + services = federal budget

Tax income < Federal budget

Services > paying debt

Default = not paying debt

Tax income > paying debt

We can wholly fund our debt, thus we will not default!

But we may not be able to pay our military, medicare or social security if we do not increase the debt ceiling.

Default is not allowed under the US constitution.

The validity of the public debt of the United States, authorized by law,
including debts incurred for payment of pensions and
bounties for services in suppressing insurrection or rebellion, shall not be questioned.

I believe this provision is universally understood to mean that the federal government
must pay its debt obligations, both principal and interest,
even if that means prioritizing debt service over other government spending.
So the question is, if Congress does not raise the current debt ceiling,
will the federal government run out of money needed to pay its existing debts?
The answer is clearly No. A reader supplies the math:

On average the federal government’s daily expenditures are about $16.7 billion;
receipts are about $14 billion, implying an average daily borrowing requirement of
about $2.7 billion. So the planned flow of revenues is now about $650 billion less
than the planned flow of expenses…about $2.7 billion a [business] day, $650 billion annually.

So the “default” scenarios are bogus. Interest on the $16 trillion in debt is covered
by a factor of about 10x by revenues! That puts the federal government deep into AAA land.
Revenues would have to fall by a staggering 90% to jeopardize interest payments.

Flakker
10-14-2013, 05:04 PM
Udder chaos.

????


http://blog.mlive.com/kzgazette_impact/2009/08/large_cow.jpg

A-GAME
10-14-2013, 05:04 PM
Edit: ^^^^^^^^^ Wizardry

http://i.qkme.me/3pdg3q.jpg

Hola Bola
10-14-2013, 05:12 PM
Udder chaos.

http://www.slapcaption.com/wp-content/uploads/2013/07/Cow-on-a-trampoline.jpg

JFizzle23
10-14-2013, 05:14 PM
lol.. Hey... I've been promoting the converting of paper **** money to gold and silver and I've been prepping for nearly 2 years now, especially all of this year.

You idiots want to believe in the idea that America is too great to fail? Yeah.. so did the Romans.

Enjoy. Oh and don't come 'round my region if and when chit hits the fan, go beg your man-gods in D.C. for food and shelter lulz
I mean, bro... iunno if you're trolling or not, but you need to calm down. lol.

Life will go on as normal, nothing is going to happen.

zmcdole
10-14-2013, 08:21 PM
The government is shut down because Congress failed to pass a budget or CR, not because we're out of money.

To do everything currently under law, yes, we must borrow money.

To pay our debts we do not need to borrow money.

Paying debt + services = federal budget

Tax income < Federal budget

Services > paying debt

Default = not paying debt

Tax income > paying debt

We can wholly fund our debt, thus we will not default!

But we may not be able to pay our military, medicare or social security if we do not increase the debt ceiling.

Default is not allowed under the US constitution.

The validity of the public debt of the United States, authorized by law,
including debts incurred for payment of pensions and
bounties for services in suppressing insurrection or rebellion, shall not be questioned.

I believe this provision is universally understood to mean that the federal government
must pay its debt obligations, both principal and interest,
even if that means prioritizing debt service over other government spending.
So the question is, if Congress does not raise the current debt ceiling,
will the federal government run out of money needed to pay its existing debts?
The answer is clearly No. A reader supplies the math:

On average the federal government’s daily expenditures are about $16.7 billion;
receipts are about $14 billion, implying an average daily borrowing requirement of
about $2.7 billion. So the planned flow of revenues is now about $650 billion less
than the planned flow of expenses…about $2.7 billion a [business] day, $650 billion annually.

So the “default” scenarios are bogus. Interest on the $16 trillion in debt is covered
by a factor of about 10x by revenues! That puts the federal government deep into AAA land.
Revenues would have to fall by a staggering 90% to jeopardize interest payments.shieeeet, we president now, whatchu talkin bout??

flairon
10-14-2013, 08:43 PM
I've always thought that there were men and women way smarter than me running this country, so I have to ask, if you run out of money over and over and over again, sooner or later you would think it would dawn on someone that we need to quit spending so much money.

faxanadu
10-14-2013, 09:01 PM
Do you understand that required debt payments are only 8% of all revenue routinely coming into the government? The only "default" will be if a moronic President orders a default on our debt, despite having plenty of money to cover the payments.

Someone posted the other day something i hadn't thought of. That Obama could do just that and then order a state of national emergency and take control.

If that does end up happening, i see nobody but a few southern/midwestern states putting up a fight.

nutsy54
10-14-2013, 09:08 PM
Someone posted the other day something i hadn't thought of. That Obama could do just that and then order a state of national emergency and take control.

If that does end up happening, i see nobody but a few southern/midwestern states putting up a fight.
You'd do well not to give in to the ranting quackery of Conspiracy fools. They've been claiming an imminent national emergency or martial law for years :rolleyes:

LoseTheKeg
10-14-2013, 09:13 PM
Udder chaos. Cows milking like crazy everywhere.

Just remember. OP warned you.

Virus4762
10-14-2013, 09:20 PM
If we hit the debt ceiling in a couple of days then the government will actually start to shut down until we're left with the cash that's coming in.

Something like 60% or 70% of the cash that comes in will go right back out to pay interest on our loans. (Thus we don't default like the cousin-counters in this thread suggest)

The rest will go to funding john boner, reed and obamas "Fabulous 2013" cruise in the bahamas organized by the LBGTQ community.

I thought the government shut down last week...? Can someone answer this? I don't understand what's so special about three days from now.

Xhat1
10-14-2013, 09:22 PM
We are three days away from diving into complete and udder chaos as a nation. This default will effect almost everyone in every country around the world if it does in fact happen. Better head to your banks and get all your cash out, in the event it does happen dont get caught in the panic..If this is going to happen this is exactly how the goverment and media would handle it as to not incite panic. Three days away. Use your heads, stay safe

Our economic death won't be apocalyptic like that bro. It's going to be more like what happened to Japan. We'll go on perpetually as some sort of barely functioning zombie economy and the public will just be glad uncle sam is looking out for them.

nutsy54
10-14-2013, 09:26 PM
I thought the government shut down last week...? Can someone answer this?
Two weeks ago, the idiots in Congress were once again surprised that Oct 1st is the start of the fiscal year. There's no budget in place, so "non essential" services were shut down.

Now, we're facing a different issue - finally hitting the debt deciding, and unable to borrow more money to support the insane non-stop spending.

Liff_Wates
10-14-2013, 09:28 PM
I've always thought that there were men and women way smarter than me running this country, so I have to ask, if you run out of money over and over and over again, sooner or later you would think it would dawn on someone that we need to quit spending so much money.

Good luck selling that to your constituents and campaign contributors. Gimme gimme gimme

metroins
10-14-2013, 09:29 PM
I don't normally buy into this type of reporting, but I did this time.

Furloughed workers go to food bank for food:
http://www.cnn.com/2013/10/14/politics/furloughed-workers-food-pantries/index.html?c=homepage-t

It kinda rang home for me because I grew up poor and going to a food bank would not be an easy thing to do.

nutsy54
10-14-2013, 09:33 PM
I don't normally buy into this type of reporting, but I did this time.

Furloughed workers go to food bank for food:
http://www.cnn.com/2013/10/14/politics/furloughed-workers-food-pantries/index.html?c=homepage-t

It kinda rang home for me because I grew up poor and going to a food bank would not be an easy thing to do.
Not to be rude... But who the hell doesn't even have enough savings to cover a week or two of food for their family?

metroins
10-14-2013, 09:38 PM
Not to be rude... But who the hell doesn't even have enough savings to cover a week or two of food for their family?

There are many people in this country who work hard but barely, or don't, make enough to make ends meet. If you were paid bi weekly and just put out for rent, you wouldn't have much money for food for the next few weeks.

Not to be rude....Just because everybody you know, and associate with, make decent income, does not make it true for everybody.

Going to the food bank is not something a working person wants to do. I remember collecting cans growing up out of dumpsters to help pay for family needs. My dad was a welder and my mom was a secretary.

tk217
10-14-2013, 09:40 PM
Moooooove it.


I remember collecting cans growing up out of dumpsters to help pay for family needs.

>.>

Even when my family was broke as **** and we ate Hash - when I was a kid during the 80's I didn't dumpster dive for scrap metal as a child.

Where the hell did you grow up?

metroins
10-14-2013, 09:46 PM
Moooooove it.



>.>

Even when my family was broke as **** and we ate Hash - when I was a kid during the 80's I didn't dumpster dive for scrap metal as a child.

Where the hell did you grow up?

Baltimore city/highlands....my parents grew up even poorer than I did and some of my aunts and uncles are still there. They/we were the family other families gave food to.

My dad is lucky he made it out and now earns 140kish and I do ok.

PaulG
10-14-2013, 09:53 PM
Not to be rude... But who the hell doesn't even have enough savings to cover a week or two of food for their family?

My parents grew up paycheck to paycheck.

I stole food as a kid, and horded it any opportunity I got. I was never proud of it. My parents were too smug to go on food stamps, so I got a meal every couple days. Typical mentality of individuals changes when the individual thinks society is working against them. Thus, stealing doesn't seem wrong. Children are highly receptive and will adapt naturally to this.

J3remy
10-14-2013, 09:56 PM
We are three days away from diving into complete and udder chaos as a nation. This default will effect almost everyone in every country around the world if it does in fact happen. Better head to your banks and get all your cash out, in the event it does happen dont get caught in the panic..If this is going to happen this is exactly how the goverment and media would handle it as to not incite panic. Three days away. Use your heads, stay safe


Seems to me this "shutdown" that mostly affects tourists in DC afaik is just abit of theater and Obama's way of getting what he wants, dont think its doomsday just yet

sawoobley
10-14-2013, 10:28 PM
We are three days away from diving into complete and udder chaos as a nation. This default will effect almost everyone in every country around the world if it does in fact happen. Better head to your banks and get all your cash out, in the event it does happen dont get caught in the panic..If this is going to happen this is exactly how the goverment and media would handle it as to not incite panic. Three days away. Use your heads, stay safe

If the debt limit is not raised it will likely be painful for a lot of people.

The government has been borrowing money from "trust funds" such as government employee funds, etc. They have done to these trust funds what they did to Social Security. One arm of the government lends money to the other arm of the government but there are no real accounts with money in them. What usually happens is money is taken from the public and it goes to the treasury and the treasury then gives them back a non-negotiable T-bill which is allocated as a "fund". The treasury puts that money into the general fund and it gets spent that year.

In 2013 they took those non-negotiable T-bills and spent money against them as if there was an actual fund to borrow against. It's called double borrowing and it is totally bogus shuffling.

So we don't just need to pay interest on the debt but we have to make up for all the bogus borrowing and shuffling they did for nearly a year. Once they raise the debt limit the debt will jump about 800 billion dollars immediately just like last time this was done. Not only do we have the ongoing interest to pay but also the built up debt from the funny business of the first part of this year.

It WILL be painful if the debt limit is not raised. If a normal citizen did this they would be in prison. This was set-up by the Democrats. If anyone remembers the debt stayed under 17T at a constant level for many months. How did this happen? Did they cut spending or did the treasury mess with the numbers to make it seem a certain way on the books? So if the debt limit is not raised what pool of money will they have to draw from? There is none.

We should be careful about how sure we are that nothing will happen. Most of us are taking the numbers they report at face value and we have a difficult time conceiving of this kind of manipulation. Surely it would be obvious if this was going on, right?

Flakker
10-15-2013, 10:14 AM
I've always thought that there were men and women way smarter than me running this country, so I have to ask, if you run out of money over and over and over again, sooner or later you would think it would dawn on someone that we need to quit spending so much money.

Why on earth would you think this???


I thought the government shut down last week...? Can someone answer this? I don't understand what's so special about three days from now.

Only some 85% is shut down because they didn't pass a budget to fund operations.

In a few days we hit the debt ceiling. A true hard stop to our profligate spending.


I don't normally buy into this type of reporting, but I did this time.

Furloughed workers go to food bank for food:
http://www.cnn.com/2013/10/14/politics/furloughed-workers-food-pantries/index.html?c=homepage-t

It kinda rang home for me because I grew up poor and going to a food bank would not be an easy thing to do.

Obvious ****ing bull****.

First of all, how often are federal employees paid? Daily? Even if it's every other week, these people don't have enough credit to last 1 extra week (the longest possible span that they could have gone without a check)?

Lying lies and the liars that tell them...

SDC77
10-15-2013, 12:06 PM
I'm as worried about fallout from a U.S. default as I was about Y2k.

0.0% worried.