US Government shuts down

[Ab]

Fuck yeah.

[Lightspeed]

I suppose this is too much to hope this might be what finally prompts the much needed reform in the US government.

[Ab]

lol yeah right

[Spink]

http://edition.cnn.com/2013/10/04/us...html?hpt=hp_t2

"The incident occurred near the National Air and Space Museum."

That's pretty close to the smithsonian, right... chubby?

[chubby]

my daughter(9),accompanying-is experiencing a partial news blackout@the moment.
the port shooting got her attention..i dont need to establish a theme here-it's hard enough trying not to teach anti-americanism.i dont need the real world doing it in my place.

[aR Que]

idgi, see all these photos of <historical landmark> 'oh noes its shut down' with cones or a waist high fences in the way... like fuck some delineation is going to stop me seeing my heritage.

[chubby]

yanks are into symbolism.

and personally,more the realisation(after reading way to much good near-future sci fi)that Washington is the last place i want to be when it all goes titsup.

[Lightspeed]

Originally Posted by chubby

my daughter(9),accompanying-is experiencing a partial news blackout@the moment.
the port shooting got her attention..i dont need to establish a theme here-it's hard enough trying not to teach anti-americanism.i dont need the real world doing it in my place.

But you must give her some evil other to hate! Is it GT?

[Nothing]

So, on the off chance that the government stays shut down and the debt ceiling doesn't get raised, and they default, what sort of shit storm will that generate?

[chubby]

THE RAPTURE!!!

[Rince]

Originally Posted by chubby

THE RAPTURE!!!

LOLIRL

[Cyberbob]

Originally Posted by Nothing

So, on the off chance that the government stays shut down and the debt ceiling doesn't get raised, and they default, what sort of shit storm will that generate?

You know when you get a few bad debts, have a few late repayments, then your credit rating with the banks and lenders go down, then no one wants to approve a loan for you.. yea, that.

USA won't be the awesome, reliable country for China etc to lend to, they'll be those shitheads that defaulted on payments.

Shit gon' get real.

[chubby]

Originally Posted by Lightspeed

But you must give her some evil other to hate! Is it GT?

she's a smart kid.she shall probably work it out for herself.

[Nothing]

Another uni student just posted this one on facebook, any thoughts?

http://nsnbc.me/2013/09/25/global-ec...e-unavoidable/

[Saladin]

Originally Posted by Nothing

Another uni student just posted this one on facebook, any thoughts?

http://nsnbc.me/2013/09/25/global-ec...e-unavoidable/

That site looks like some conspiracy theorist's blog masquerading as a news site.

[Nothing]

Also, this article, published way back on the 21st of may:
http://www.globalresearch.ca/recover...collapse/30960
contains this rather eerie prediction, about half way down, that republicans will generate a crisis over the debt ceiling to distract people from the real issue:

"Recently Bill Moyers interviewed Simon Johnson, formerly chief economist of the International Monetary Fund and currently professor at MIT ... Johnson warns that the Republicans will distract everyone from the real crisis by concocting another “crisis” over the debt ceiling."

which it looks like we're now, in october, not a terribly long way off.

Wikipedia page on Simon Johnson:
http://en.wikipedia.org/wiki/Simon_Johnson_(economist)

How much attention should I pay to this? Should I tell Dad to get the hell out of the middle east?

[Nothing]

Originally Posted by Saladin

That site looks like some conspiracy theorist's blog masquerading as a news site.

Yeah, that thought occurred to me as well. It also occurred to me that the article I posted in my previous post could well have been posted very recently and they just wrote the 21st of May as the date on the site, which might have been entirely fabricated.

But then, the name of the author on the article does seem to be credible:
http://en.wikipedia.org/wiki/Paul_Craig_Roberts

On the other hand, that could all be fabricated bollocks too, perhaps he didn't write it at all. Finding credible information on the internet; it's like locating a needle in a haystack.

[Nothing]

Usually I would be pretty slow to pay much attention to any of this sort of doomsayer kind of stuff. But financial doom is one kind of doom that I really can't help but wonder and worry about. It particularly worries me because Dad is living in the middle east, and I can't imagine that would be a great place to be in the midst of a global financial meltdown. The thought that he might get stuck over there with everyone trying to exit and airlines shutting down, and maybe war breaking out, is an idea that I really do find scary. Perhaps that is merely overdramatising, but in a collapse that is big enough I can't help but think that the degree and severity of the fallout would be hard to predict. The worst case scenario might be much worse that we would normally expect from mere financial issues.

Can we even reasonably rely upon traditional media outlets which would probably be credible for most other things to provide us with honest analysis of potential financial meltdowns? It's not like those media organisations did a lot to warn us about the 2007 GFC. And it is at least conceivable that some powerful corporates with a lot of wealth might seek to keep them quiet about something like a global financial collapse.

I wonder if one worthwhile indicator that might be interesting to look at would be futures markets in which contracts might be sold on upcoming global financial collapse. But I don't have any knowledge or skills on how to access the relevant futures markets or how to interpret the information that would be there even if I did know how to access them.

Even then, on the other hand, perhaps that wouldn't be a sensible metric, since anyone who had a real prediction that the value of global currency was going to go belly up probably wouldn't be interested in betting to win a bunch of paper which, when the win conditions were satisfied, would end up being worthless anyway. I don't know, maybe that's an oversimplification of it.

Anyway, I'll STFU now and hopefully someone will say something to soothe my worries.

[[Malks] Pixie]

Originally Posted by Nothing

It particularly worries me because Dad is living in the middle east, and I can't imagine that would be a great place to be in the midst of a global financial meltdown.

If you haven't already have a watch of Dmitry Orlov's "Social Collapse Best Practices" to soothe your concerns...

http://fora.tv/2009/02/13/Dmitry_Orl...Best_Practices

Summary - you don't want to be in a major western nation, in particular in an urbanised area (rural would probably be okay for a while).

Pixie

[pxpx]

Should I buy a gun?

[StN]

Wait - I thought Doomsday preppers being on NetGeo and not ComedyCentral was an error?

[CCS]

Originally Posted by pxpx

Should I buy a gun?

You don't already have one?

[plaz0r]

Originally Posted by Nothing

Also, this article, published way back on the 21st of may:
http://www.globalresearch.ca/recover...collapse/30960

Ahh yes, from the same respected publication that brought you Search Engine Manipulation. Google and YouTube Suppress Controversial 9/11 Truth? and H1N1 Vaccination: A Eugenics Weapon for “Massive & Targeted Reduction of the World Population.”.

I wouldn't worry.

edit: Chemtrails! CIA Is Funding Government-Led Chemtrail Project: Spy Agency to Help Study “Security Impacts” of Geo-engineering

[Nothing]

http://www.xkcd.com/1274/

Entertainingly relevant.

[pxpx]

Forgot Molemen.

Forget them at your own risk.

[Ab]

The Republicans have gone full retard, and Boehner's trapped. He doesn't have any options.

[fixed_truth]

Some interesting solutions:

Three Not-So-Crazy Ways Out of the Debt Ceiling Crisis

[Ab]

Can you point me to the "not-so-crazy" bit? Because all three of those options are basically waving a magic wand and going "abracadabra no more debt, yay!"

[pxpx]

Ima steal me that trillion dollar coin.

[fixed_truth]

Not so crazy as defaulting?

[Spink]

Originally Posted by Ab

The Republicans have gone full retard, and Boehner's trapped. He doesn't have any options.

Saw someone on the SA thread say one theory is that Boehner is holding it til he can fall on his sword and do the debt ceiling increase at the same time so they don't change Cantor to the speaker after doing this first bit and go back to a hostage situation.

[Lightspeed]

I thought the US debt was a non-issue. It's like have $10m in assests, with $100k annual outgoings and $90k annual incomings. Not a problem for quite some time. Or something like that, cause I've got a degree in economics and general fanciness, right?

[Spink]

debt ceiling increase needed by 17th

[Golden Teapot]

Originally Posted by Ab

Can you point me to the "not-so-crazy" bit? Because all three of those options are basically waving a magic wand and going "abracadabra no more debt, yay!"

The government can devalue their debt if they need to; that's their magic wand. It's never talked about and those who only know about text book economics don't understand why this is possible. But they can and that's their get out of jail free card.

[Cyberbob]

Originally Posted by Lightspeed

I thought the US debt was a non-issue. It's like have $10m in assests, with $100k annual outgoings and $90k annual incomings. Not a problem for quite some time. Or something like that, cause I've got a degree in economics and general fanciness, right?

Don't forget the stupidly huge personal loan on the side.

And Yes, and they've currently told everyone the liquid outgoings have stopped temporarily because liquid incoming's have currently stopped, but they're about to default on loan repayments, so their credit history's about to get a big black mark, which means it'll be way harder to get future loans.

[Spink]

http://www.today.com/news/shutdown-d...ers-8C11355842

pretty sad

[Odysseus]

Originally Posted by Golden Teapot

The government can devalue their debt if they need to; that's their magic wand. It's never talked about and those who only know about text book economics don't understand why this is possible. But they can and that's their get out of jail free card.

It takes time though....realistically several years for inflation to eat away at debt, at least if if the rate is at levels of any typical western nation.

[Ab]

America, you so.. what's the word I'm looking for? Oh yeah, retarded.

http://www.motherjones.com/mojo/2013...myths-debunked

[Golden Teapot]

Originally Posted by Odysseus

It takes time though....realistically several years for inflation to eat away at debt, at least if if the rate is at levels of any typical western nation.

They can achieve a devaluation of their debt almost immediately if they needed to.

[Cyberbob]

Both the shutdown and the debt ceiling crisis are man made issues with a sooner-or-later man made resolution.

Newt Gingrich is somewhat right when he says the shutdown-related hysteria is overblown.
It won't be even a talking point in a few weeks, it'll either be the status quo, or resolved very quickly when the pains start to directly affect the politicians in a negative way.

Food for thought:

If a race related law was going into action in a 1950's America, and a few extreme politicians did the same boycotting with a positive outcome, even if it was unfavorable to the masses at the time, they'd be called heroes today.

What the GOP is doing is completely legal, all the systems are in place to let them do exactly what they're doing. Want that to change? The systems need to change.