Another poll on seriousness of possible default

Discussion in 'Politics' started by JimH52, Jul 20, 2011.

  1. JimH52
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    JimH52 Gold Member

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  2. Leweman
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    Leweman Gold Member

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    Why would they not believe what is being hammered into their brain by the news they watch? They aren't going to go do some independent research on the subject. Of course they are going to say its a problem based on the skewed media coverage.
     
  3. JimH52
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    JimH52 Gold Member

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    So you disagree with the Saintly Ronald Reagan?

    Ronald Reagan Speaks From Grave On Debt Ceiling : freshrant : Exquisitely Baked Satire

     
  4. Oddball
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    Oddball BANNED Supporting Member

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    You gotta know that the liberoidals are in-death-throes-desperate when they claim the mantle of the most reviled Ronny Reagan, in order to try and score points. :lol:
     
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  5. Richard-H
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    Richard-H Gold Member

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    Anybody that thinks that a U.S. governement default would be anything less than catastrophic, doesn't understand economics.

    The entire world's economiy is dependant on the validity of the U.S. Government. $14T in bonds holders, ranging from private individuals, corporations and governments have invested in the U.S. governement. They're investments become worthless.

    All landlords who depend on their tenants SS are screwed.

    All banks that have invested in Bonds are screwed.

    The healthcare industry, without medicare payments is screwed.

    The U.S. government contractors are screwed.

    All paychecks will stop.

    The list goes on and on, but what really matters is that in economics, everything is inter-related. A minor failure in one area of economics will cascade into a major econic castastrophe.

    Did anybody learn anything from the mortgage defaults and credit default swap problems just a few years ago?

    Anyone of the above defaults is more than likely to cascade into a major economic catastrophe. All of them combined will certainly create economic havoc at a level we've never seen before.

    But, don't worry, with the U.S. dollar worthless, Chinese currency will become the world's currency reserve.

    Of course the Chinese will have their own financial disaster to deal with. But they're well positioned for this - they have a COMMUNIST GOVERNMENT - they can NATIONALIZE all forgein industries in the blink of an eye. They'll stabilize while the rest of the world reels.

    The end of the American century and the beginning of the Chinese millenia!

    Just what the Tea Party was planning all along.
     
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  6. Quantum Windbag
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    Quantum Windbag Gold Member

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    And this poll shows people are more worried about the debt than the catastrophe.
     
  7. Douger
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    Douger BANNED

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    Rothchild said "he who controls the money".
    I say "he who controls the food"

    The avocado's are almost ready.:eusa_shhh:
     
  8. ABikerSailor
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    ABikerSailor Platinum Member

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    The GOP is pushing for default, so that their corporate overlords can then get a bargain on buying this country.

    Yep.........get ready for the feudal system all over again............
     
  9. auditor0007
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    auditor0007 Gold Member

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    Reduce GDP by 8% overnight, and the snowball effect will lead to a massive drop in GDP. Unemployment will initially double, but the snowball effect will lead us to 30% unemployment. Housing prices will plummet much further, and it will likely lead us to an economy worse than that of the Great Depression. There will be no choice but to raise taxes on the wealth into the 75% range just to cover the basics. Everything else will be slashed. The value of the dollar will drop uncontrollably and energy prices will double along with most all commodities. USMB will cease to exist because nobody will be able to afford their Internet service.

    Our economy is already struggling. It's not going to be able to withstand a hit like this. Twelve days and counting.
     
  10. Old Rocks
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    Old Rocks Diamond Member

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    Ah, but then Obama will probably lose the election in 2012. And it will all be worth it, just ask any Teabagger or Rove lover.

    This is a hard ball game the GOP is playing, and, in the end, all will lose because of it. And the resident dingbats on this board will be chortling even as the nation crumbles around them.
     

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