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U.S. at risk - August is soon here.

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posted on Jul, 26 2011 @ 09:50 AM
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Hi,


Concern rises in world financial markets. Does President Barack Obama reach an agreement on an increase in the debt ceiling? Time is running out. By the second of August an agreement must be in place.

U.S. expert at Southern University, Associate Professor Niels Bjerre-Poulsen, now see the risk that they will not manage to get a deal through. It would then be the first time in the country's economic history.

"It will without doubt be the dumbest thing that ever happened in the country's economic history. An own goal by dimensions, he says.

Warned of the consequences:

Barack Obama warned on Tuesday night about the consequences if the debt ceiling is not raised.

"If we continue on our present course, our rising debt will cost us jobs and damage the economy seriously. Even more of our tax dollars will go to pay interest on our loans," he said in a speech to the nation.

The internal wars in the congress are also a cause to the problems:

Niels Bjerre-Poulsen highlights internal wing wars among Republicans as the cause of the problem.

A small but powerful part of Republicans in the House sees debate on the debt ceiling as a chance to make political blackmail.

"If this group does not get all their conditions are met, they threaten to vote against an agreement on the debt ceiling," he says.

And just as confusing for voters, so Republicans have linked negotiations on the debt ceiling, coupled with its budget deficit and how it should be rectified.

"No one disputes that the U.S. economy's ability to meet its debt obligations. But you can begin to fear for the political will to raise the debt ceiling," says Niels Bjerre-Poulsen.


Source: nyhederne.tv2.dk

What do you all here at ATS thinks will happen if they do not make the agreement? Will it be for the better or will it be for the worse?

Thanks,



edit on 26/7/11 by Hilltaker because: (no reason given)

edit on Tue Jul 26 2011 by DontTreadOnMe because: ex tags, mod note, this quote is a translation from the site article




posted on Jul, 26 2011 @ 10:03 AM
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Banker bailouts
GM bailouts
Union corruption
Patriot act
IMF
Fake birth certificate
Threatening our seniors and disabled
Left, right who gives a rats ass
TSA
Homeland security
Nafta, gaft
Boehner
Obama
Super congress

Let the whole thing collapse.



posted on Jul, 26 2011 @ 10:10 AM
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I think it will be for the better if they fail to come up with an "agreement"
I guarantee you that any agreement will really be smoke and mirrors. They will say they are going to reduce the deficit sometime in the future...say 2013 or 2014 because they don't want to hurt the fragile economy at present. So when 2013 or 2014 comes along, they will just change the laws again so they don't have to actually reduce the deficit.
All I can say is Beware of any agreement they might come up with. Any American that trust our representatives, (I can't bring myself to call them leaders because they aren't), is a fool.
edit on 26-7-2011 by fltcui because: typo



posted on Jul, 26 2011 @ 10:12 AM
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OP, please edit you title and put it in English that makes sense.

Line 2



posted on Jul, 26 2011 @ 10:13 AM
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reply to post by ohioriver
 


I tend to agree with you. Let it crash and burn its going to anyway. All they are doing is playing a fools game even trying to act like they care. They are setting up the fall deliverately. Anyone thinks we got to this point by accident or incompetence is living in fools paradise. Now that we are here get it over with. Is it going to affect me and my family of course it will however sometimes the hard way is the easy way in the long run. The only thing that will solve any of this is puit all the banksters and their cronies in jail. Freeze all their assets and then recoup what they owe the people, They are criminals and should be treated as such. Instead everyone is wringing their hands and saying they have to save us. Why would they save you they are the same people that have destroyed you.



posted on Jul, 26 2011 @ 10:17 AM
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If something's horribly broken, I like to start over, vs. trying to perpetually band-aid it. Whether software (the industry I work in) or something else. I feel like there are negatives to both parties' plans (dems want to keep borrowing, but EVERYTHING about the desired Republican plan is horribly scary/an attempt to undo any progress made under Obama -- disagree there all you want). I think it should be painfully obvious to an extreme majority in the US that the rich/corporations should be paying just as much %-wise in taxes as the rest of us (that fact that this is even up for debate simply shows the true power of propaganda). What the die-hard Republicans are blackmailing the rest of us for would be catastrophic. The kind of money we want to continue borrowing to extend the status quo in the US without strong enough industry to generate real revenue is also unsustainable/doomed. For-profit healthcare is also destroying us -- again, it's a huge conflit of interest (just like the toxic mix of corporate interests/government we've seen for years) and anyone saying otherwise is either special interests/a victim of the propaganda machine.

For dems to cave on everything would be WORSE imo than calling the Republican bluff and having to deal with the consequences of our debt problem now.

I am happy that Obama said what needed to be said last night at least (calling out the loopholes that exist for the rich/corporations yet again, reminding families that if they make less than 250K a year they won't have a tax increase (they're trying to reign in EXPLOITERS people, that the debt ceiling was raised seven times under Bush (that this is pure blackmail/sabotage and nothing else)), etc.).

So I vote for calling the Republican bluff, not caving at all (they haven't, why should we) -- they will feel the fallout more than the rest of us.
edit on 7/26/2011 by AkumaStreak because: OCD



posted on Jul, 26 2011 @ 10:20 AM
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reply to post by freedom12
 


Hope that is better?

Thanks,
edit on 26/7/11 by Hilltaker because: (no reason given)



posted on Jul, 26 2011 @ 10:23 AM
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Last night, I was speaking on the phone with my mother, who is on Social Security (Retirement). She does not have a computer, just watches local evening news. I was trying to very gently make her think about come August, no more money. She totally does NOT believe such, as if it's thoroughly -impossible- ! She said, "They are just playing political games, (it's all a bunch of political sillyness) otherwise, our money is there, how could it not be?" I decided not to push any further 'that bridge' to cross.
***There are many people like her out there who just don't want to go there*** .

Oh Mmmmy God.



posted on Jul, 26 2011 @ 10:27 AM
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reply to post by simone50m
 


I agree with your mom. The mention of SS being cut off, was just cheap fear-mongering. First the Govt would have to cut way back and operate on essential personnel only. (Like Ron Paul wants to do permanantly.) Then, if we started to default, it would just be on our Treasury Bills to the Fed, and it would not be a true default, but it would result in instant inflation. In a worst case scenario, the military checks and benefits would start to get cut, and then lastly, several months down the road, and well into the Revolution, the SS checks would be cut off.

Ignore the news, your mom is right.

ETA:
The more realistic view is that the checks will continue, but due to hyper inflation, the checks won't be able to buy anything. Now that is something to truely worry about. Your mom should stock up on the staples like flour for bread, rice, sugar, canned goods, and be prepared while she still can.
edit on 26-7-2011 by getreadyalready because: (no reason given)



posted on Jul, 26 2011 @ 10:28 AM
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Originally posted by simone50m
Last night, I was speaking on the phone with my mother, who is on Social Security (Retirement). She does not have a computer, just watches local evening news. I was trying to very gently make her think about come August, no more money. She totally does NOT believe such, as if it's thoroughly -impossible- ! She said, "They are just playing political games, (it's all a bunch of political sillyness) otherwise, our money is there, how could it not be?" I decided not to push any further 'that bridge' to cross.
***There are many people like her out there who just don't want to go there*** .

Oh Mmmmy God.


OMG. so that is actually what will happen? - People do not get money or?

That cant be true can it? - Then there will be the most extreme riot INSTANTLY since the north south war?

That is just crazy man just crazy.

Thanks,



posted on Jul, 26 2011 @ 10:41 AM
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reply to post by getreadyalready
 
My mom is one of those women of previous generations, who can whip up a supper, out of nothing, almost. I don't know how they do it. wish I could, I don't have that kind of magick 'green thumb' as it were. I'd be lucky if I knew how to pour hot water into an MRE right.



posted on Jul, 26 2011 @ 10:44 AM
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reply to post by simone50m
 


Better start practicing. We are headed for those days again.

During the last great depression, people were prepared and used to surviving on basics and necessities. Today is a different world, and people survive off fast-food and frozen meals. When we enter this depression a lot of people will not know how to survive, and the tragedies will be worse than before.

It sounds like it is time to spend some time with Mom and learn some of her old secrets!



posted on Jul, 26 2011 @ 10:46 AM
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On the bright side, if Republicans are blamed for the default and any ensuing economic fallout due to their unwillingness to negotiate terms, their collapse as a party in 2012 should rival the collapse of the Liberal Party in Canada in 2011.



posted on Jul, 26 2011 @ 10:51 AM
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I thought I read somewhere that Obama was going to cave on the tax hikes/eradication efforts against the corporate loopholes. I really hope not. We've got nothing if he gives in on this.

Dems cannot accept this.
edit on 7/26/2011 by AkumaStreak because: (no reason given)



posted on Jul, 26 2011 @ 11:19 AM
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Well, GM moved out, i think they wanted too, they knew what they were doing, planned it out. cheaper to pay foreigners. the FEDS keep overspending, and obviously have no intention of ever paying back into the debt ceiling or deficiet..what makes anyone think obama and government are REALLY working on anything to amke things better? i think yuode have to be niave to actually belive they are..a sucker*



posted on Jul, 26 2011 @ 12:11 PM
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For anyone out there that doesn't think the "drama" of these debt ceiling debates isn't simply political posturing for the upcoming election year, I have only one question:

If raising the debt ceiling is such a horrible thing, why has it been done almost every year for the last thirty with absolutely no big drama at all? It has certainly been raised every year for the last ten. As for paying down said debt, the most logical approach is a combination of taxes and cuts, but that won't happen since it makes sense.



posted on Jul, 26 2011 @ 12:31 PM
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DEBT CEILING + Y2K all same same paper tiger....
Do you honestly think people will stop honouring US dollars?
Or US SS checks etc?
Theyll just keep pumping them checks out, and the banks will keep cashing them....Its all posturing and political assassination .
Lord i hate politics....



posted on Jul, 27 2011 @ 03:03 AM
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Originally posted by usernameconspiracy
For anyone out there that doesn't think the "drama" of these debt ceiling debates isn't simply political posturing for the upcoming election year, I have only one question:

If raising the debt ceiling is such a horrible thing, why has it been done almost every year for the last thirty with absolutely no big drama at all? It has certainly been raised every year for the last ten. As for paying down said debt, the most logical approach is a combination of taxes and cuts, but that won't happen since it makes sense.



Hi,

Isn´t the reason that the dept is getting to huge? - That it is no longer possible to pay it of in the same rate as you borrow the money?

Thanks,



posted on Jul, 27 2011 @ 03:14 AM
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If they had never had increased spending (bailouts) or raised program department budgets, this would never be an issue.
But they have to spend.

So says our keynesian president.



posted on Jul, 27 2011 @ 03:46 AM
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The following is my opinion as a member participating in this discussion.

You have to love these Wall Street guys style.

1) Engineer the financial collapse through illegal accounting practices
2) Take money from the government to increase our debt
3) Pay back that money with no interest leaving us holding the bill
4) Threaten to decrease the US credit rating if we don’t comply with their wishes
5) If no deal is made, increase the interest rates and rake in more money

Maybe we should just go ahead and give them all our money now so they can go away and rape another country…


Debt ceiling: Timing the next fight
What certainly could impede economic growth is a credit rating downgrade, which the credit ratings agency Standard & Poor's has threatened to do in the next three months.
S&P hasn't said specifically that it would downgrade the United States if the initial debt-ceiling increase was short-term.
But it did note that continued use of the debt ceiling as a political bludgeon might trigger a downgrade.
"We may also lower the long-term rating and affirm the short-term rating if we conclude that future adjustments to the debt ceiling are likely to be the subject of political maneuvering to the extent that questions persist about Congress' and the administration's willingness and ability to timely honor the U.S.' scheduled debt obligations," the agency said earlier this month.
On the other hand, S&P and the other ratings agencies have said they won't be pleased if lawmakers fail to pull together a credible, substantial debt reduction package.

Its nice to know that a private company is able to dictate policy to the US government on HOW they are going to go about dealing with our national debt.

As an ATS Staff Member, I will not moderate in threads such as this where I have participated as a member.



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