Fear, finger-pointing mount over "fiscal cliff"

Fear, finger-pointing mount over "fiscal cliff"

www.reuters.com

Some lawmakers voiced concern on Sunday that the country would go over "the fiscal cliff" in nine days, triggering harsh spending cuts and tax hikes, and some Republicans charged that was President Barack Obama's goal.

"I believe we are," going over the cliff, Republican Senator John Barrasso of Wyoming said on Fox News Sunday. "I think the president is eager to go over the cliff for political purposes. I think he sees a political victory at the bottom of the cliff."

(visit the link for the full news article)



Related AboveTopSecret.com Discussion Threads:
Impending financial collapse-is it real?

Admins I didn't find the same thread, sory if there is one such as this.

We have been hearing about impending economic collapses since god knows when. Will this one come true in 2012/13? I have read so many false predictions and it seems that no one can predict the economic collapse. If someone does predict it will be a lucky guess, I believe. The only theory that is more, or less credible is about USD as petro-dollar currency. So I believe it will be once more nations starts to use different currencies as their standard currrency for oil trading.

www.reuters.com
(visit the link for the full news article)

I agree. The loss of the petrodollar system in 2013 and nations will dump the USD as a reserve currency. Interest rates will rise and the 16 trillion will be unpayable. America will need a loan from the IMF.

Everyone is getting scared.
www.bloomberg.com...

There is really nothing that can be done. The hole is too deep.

The International Community is close to fed up.

16 trillion dollar debt, 500 billion trade deficit, no budget, devaluing currency through quantitative easing, overspending, waste, derivatives mess, military overspending, no election for four years, bad credit rating that will only get worse, not better...

America is doomed.

Stealth austerity wont save it. Nothing will.

The states that secede first will be better off. Why go down with a sinking ship? States like Texas could save their citizens by becoming a country. Its the only real solution.

edit- even Japans Prime Minister is saying that Japan must protect itself from the doomed USD. Everyone is about to delink from the US. All Americas 'friends'. The Central Banks will have no choice but to dump the USD. Who can blame them when Bernanke is running it into the ground? Did he really think the International Community would stand for it?
online.wsj.com...

Scared??? Of just what??
I owe no money and my taxes are current.
I also have a means of insuring that my property stays mine.
Not my debt, not my worry nor problem.

I think Obama needs to go find himself a full length mirror. Then Boehner needs to find himself a full length mirror. They can then both point to the guy they see there and know they found 50% of the blame for what we are about to suffer together.

They both hold positions of leadership. They both have ways they could act to help end if not outright end this whole thing without 10's of thousand losing their jobs to required layoffs from required cuts THESE two were both in office to see and help put together in the first place. They made it, they broke it...they can now own it.

It's a Boy! Errrr...It's a monster.

(THIS is what the "grand compromise budget committee" last year was supposed to have solved....failed to agree on anything for...and gave up. The failure goes back that far as direct cause to what we're about to see happen. Oh...everyone involved needs to lose their positions. Countless Americans aren't being given a choice about losing theirs in a short time.

Originally posted by g146541
Scared??? Of just what??
I owe no money and my taxes are current.
I also have a means of insuring that my property stays mine.
Not my debt, not my worry nor problem.

That is wrong Im afraid.

Americans should be scared.

When the world dumps the USD, America will likely see hyperinflation. At the very least, interest rates will soar and basic needs will become very expensive.

I suggest investing in the Yuan...

reply to post by Fichorka


“The supreme art of war is to subdue the enemy without fighting.”
― Sun Tzu, The Art of War

I see it as nothing more than political theater and here is why. Take a look at Greece and Spain. Not to say they managed their wealth very well, but they became victims to the same globalist private banks who are now pulling the strings of Americans politicians.

We will soon be hearing all of the same buzzwords that the EU has been using, "austerity measures" and I am sure there are others, I just can't think of em at the moment. The US can deny it all they want, our government has sold us out to private banks. Our currency is no more valueable than monopoly money. It is created out of thin air then loaned to governments whom then in turn tax the hell out of the working class giving them a false hope that by their sacrifices "WE" can make things all better. Not gonna happen folks. The banking scam was designed to do exactly what we are seeing happening right now.

The problem is what do we do about it? I think following the example of Iceland is exactly the answer, but unfortunately, our government works for the globalists and not the people. They see enslavement and we look towards them for answers that will never come. At least as far as doing the right thing for the people.

My memory keeps replaying Bush saying it is time, "for a NEW WORLD ORDER". While the people hope and pray for the government to do the right thing, all of the WRONG things are being done to us........

"If we allow that to happen it will be the most colossal consequential act of congressional irresponsibility in a long time, maybe ever in American history."

This is the gist of the problem: congressional irresponsibility. More accurately, congressional irresponsibility to the American people. If this economy goes belly up, the corporate banks close down and the stock market drops into a bottomless hole because of these screwballs, there will be a collective howl from the public.

This whole congress needs to be uprooted and tried for treason.

Originally posted by spangledbanner

Originally posted by g146541
Scared??? Of just what??
I owe no money and my taxes are current.
I also have a means of insuring that my property stays mine.
Not my debt, not my worry nor problem.

That is wrong Im afraid.

Americans should be scared.

When the world dumps the USD, America will likely see hyperinflation. At the very least, interest rates will soar and basic needs will become very expensive.

I suggest investing in the Yuan...

LOL!!! Not even remotely worried still.
If there is "hyperinflation" all I see is US Citizens buying US made and shopping locally, learning to garden and getting back to the basics.
I say bring on the cliff, I got a rope!
So does everyone else, just some realize it and some do not.
Too much hype involved in this cliff.

Originally posted by g146541
LOL!!! Not even remotely worried still.
If there is "hyperinflation" all I see is US Citizens buying US made and shopping locally, learning to garden and getting back to the basics.
I say bring on the cliff, I got a rope!
So does everyone else, just some realize it and some do not.
Too much hype involved in this cliff.

You sure about that? What will you eat and drink; No medication, no electricity; all because the gas stations will be dry since USD hyperinflated... Still not worried?

There is no need for fear mongering should the economy falls off the cliff.

Just stick to the facts and realities.

Although the automatic cuts and hikes will start on Jan 1, It will be sometime before everything kicks in, for example, the tax hikes will only take place on the next financial year - April 2014, not April 2013.

The fat cats know this fact, and will attempt to rob as much as possible from the american people before fleeing to tax havens just right before april 2014.

Thus, unemployment will continue to shrink till 2014 arrives.

As for the cuts in social expenditure, it will hit extremely hard once the budget for the financial year is announced. However, as the economy is improving, with more jobs being created in manufacturing and services and better wages given, it will help offset the pain.

Futhermore, what is needed is for the philanthropic organisations to go full steam to raise funds to help in local american social expenditure expenses such as orphanages, old folks homes, hospital expenses, etc.

As for the churches, it is high time to open up their bank accounts to help their congregations, espacially the mega-churches. No more excuses of saving up for a rainy day, as the rainy day had already come.

They MUST NOT dole out such funds to charity, unless necessary. Giving to charity is good but is droping money into a sinking hole. The church must do what our Messiah had taught - give a man a fish, you feed him a day, but teach him how to fish, and you will feed him for life.

It is time the church get business experienced directors into the board, to source out promising ventures to helps to create sustainable jobs for as many as possible. It could be as simple as helping a homeless but reliable housewife to set up an online trinket production website to energy production manufacturing. The church has the funds for it, if it ever dares to open up its books clean.

Utimately, should the economy goes over the cliff, it will be the rich whom will suffer the most later. By 2014, there is no tax havens to run to. America is the safest and stable nation with rule of law on Earth, despite the delusions of some who are claiming other nations are 'decoupling' from the american dollar.

Which merchant dares trust dictatorships such as China, Russia and Iran? Who dares trust the corrupted Brazilians and Indians? Bankrupted EU? Better the masses wake up to realities, and not be fooled. Finance grads and market savy investors know where the bread is buttered.

Originally posted by spangledbanner
I agree. The loss of the petrodollar system in 2013 and nations will dump the USD as a reserve currency. Interest rates will rise and the 16 trillion will be unpayable. America will need a loan from the IMF.

Everyone is getting scared.
www.bloomberg.com...

There is really nothing that can be done. The hole is too deep.

The International Community is close to fed up.

well that "international community" is just as broke and ponzi schemed as the rest of the world so i wouldn't worry about that. the international community is as fake as all the world leaders that make it up so i don't really pay attention to their opinion.

16 trillion dollar debt, 500 billion trade deficit, no budget, devaluing currency through quantitative easing, overspending, waste, derivatives mess, military overspending, no election for four years, bad credit rating that will only get worse, not better...

America is doomed.

as is the entire global banking system, they're just trying to see who drowns first.

Stealth austerity wont save it. Nothing will.

The states that secede first will be better off. Why go down with a sinking ship? States like Texas could save their citizens by becoming a country. Its the only real solution.

edit- even Japans Prime Minister is saying that Japan must protect itself from the doomed USD. Everyone is about to delink from the US. All Americas 'friends'. The Central Banks will have no choice but to dump the USD. Who can blame them when Bernanke is running it into the ground? Did he really think the International Community would stand for it?
online.wsj.com...

edit on 23-12-2012 by spangledbanner because: (no reason given)

states aren't going anywhere or at least they should realize that together we have a better chance of survival, separate we're doomed. you seem to think for some reason that the US is alone in this folly, on the contrary, it's GLOBAL.

there isn't many countries left that aren't up to their asses in fractional reserve banking nightmares. the IMF is no different and in fact run by the same people as the federal reserve. i must admit one thing, banksters do well and we fail at, sticking together in a time of crisis.

when this great ponzi shall collapse, it will engulf the world and will take no prisoners. what we rebuild from it, now that's the real question isn't it. rebuilding without the elite being involved is paramount, i feel.

Originally posted by Fichorka

Originally posted by g146541
LOL!!! Not even remotely worried still.
If there is "hyperinflation" all I see is US Citizens buying US made and shopping locally, learning to garden and getting back to the basics.
I say bring on the cliff, I got a rope!
So does everyone else, just some realize it and some do not.
Too much hype involved in this cliff.

You sure about that? What will you eat and drink; No medication, no electricity; all because the gas stations will be dry since USD hyperinflated... Still not worried?

I have solar, I have wind, I even got a bike with an alternator.
I grow a garden every year and I can preserve via dehydration and canning.
I know how to procure water out of the ground!
I am also actively looking for a larger place as I type this!
I guess I'd have to use my own meds if I cannot go to a state sponsored mrsa/staph house.
Never cared much for driving, actually prefer riding a bike, but why leave home anyway.
Have you ever eaten a squirrel or pheasant or something that did not come from a commercial plant???
I have and prefer these things.
Sure I enjoy going to the shopping centers and the ease of trading fiats for goods but I do not need to.
Nope, still not skeered.
Nor should anyone else.
Invest in land and your neighbors.

Originally posted by Fichorka


Admins I didn't find the same thread, sory if there is one such as this.

We have been hearing about impending economic collapses since god knows when. Will this one come true in 2012/13? I have read so many false predictions and it seems that no one can predict the economic collapse. If someone does predict it will be a lucky guess, I believe. The only theory that is more, or less credible is about USD as petro-dollar currency. So I believe it will be once more nations starts to use different currencies as their standard currrency for oil trading.

www.reuters.com
(visit the link for the full news article)

Well I suppose you are right when you say no one predicted the dates accurately but several people predicted the 2008 crash but they did not give exact dates. They are Peter Schiff, Ron Paul, Gerald Celente, and Jim Rodgers, and a few others. They are all now predicting a final crash and they have track records of good accuracy.

Giving an exact date is of course luck however economic meltdown is a mathematical certainty based on our debt based monetary system. It can do nothing else when the underlying tenet of the monetary system is debt and debasing the currency by perpetual inflation in the creation of more and more money from nothing.

So don't let your normalcy bias dismiss the mathematical fact that it will crash because someone has not predicted an exact date that came true.

Originally posted by spangledbanner

Originally posted by g146541
Scared??? Of just what??
I owe no money and my taxes are current.
I also have a means of insuring that my property stays mine.
Not my debt, not my worry nor problem.

That is wrong Im afraid.

Americans should be scared.

When the world dumps the USD, America will likely see hyperinflation. At the very least, interest rates will soar and basic needs will become very expensive.

I suggest investing in the Yuan...

so let me get this straight.....IF...IF...america goes back to the tax rates during the clinton admin.....hyper inflation, and the world dumps the dollar?.....geez....ramp up the fear!!!......clinton tax rates!!!!!! ahhhh!!!!