What a joke is this O'Reilly character. No mention of the Republicans refusal to roll back their tax cuts, their corporate tax cuts, or their corporate subsidies. And of course cutting military spending is off the table. These things must be continued at all costs, even if it means bringing down the country.

Nope. It is all Obama's fault for not cutting spending, don't you know.

Originally posted by TheComte
What a joke is this O'Reilly character. No mention of the Republicans refusal to roll back their tax cuts, their corporate tax cuts, or their corporate subsidies. And of course cutting military spending is off the table. These things must be continued at all costs, even if it means bringing down the country.

Nope. It is all Obama's fault for not cutting spending, don't you know.

edit on 21-1-2013 by TheComte because: (no reason given)

Maybe as commander in chief he should pull our troops and bring them home. How's that for a start to cutting spending? How about stopping the drone strikes that just incite more violence against US interests?

Somebody ring the bell on gold

Top!!!!

So what, The politcal world seems so distant from reality. It's a sado masochist fantasy, with doomsdays dreaders and dooms day lovers and control me some more fetishes, and i'd die for this or that rhetoric. Whatever let it burn, if the dollar fails and they take the guns and power vaccums fill. I can say this they may take your gun but there not taking mine; i have been free before the dollar's chrisis, and i assure you ill be free after.

Thanks O'riled up, but Ron Paul was saying this before 2002, hell the reason he got involved in politics was because of the fed, inflation and a devaluation of our dollar.

Never ending debt and a budget that will never be balanced can only mean one thing, does it really take a genius to figure this out?

Some poor countries have had their debts written off before by wealthy countries. Maybe portions of America's debts will be written off by grateful nations in Europe who were bailed out by America after WW2.

Maybe China will request a more open door immigration policy for Chinese immigrants into the US in exchange for a write down of debt. It wouldn't necessarily have to be an onerous burden of newcomers, like 200 or 300 million. It could be maybe only 50 million or so.

Canada will not stand by and see Americans go hungry. We grow more food than we can eat and would gladly share. I would hate to see Canada trying to profiteer on America's financial embarassment, but it would be nice if America would acknowledge that the Northwest Passage is Canadian territorial water. (It is.)

I hate to say it but an economic downturn in the US could very well represent a big opportunity for the narcotics trade. Drug lords in Mexico could well be unwilling to accept lower profits and anticipating an increase in the numbers of Americans who would rather get high than face reality, they could increase shipments to the US in order to make up in numbers what a drop in price might cost them in a depressed economic situation.

I hope that serious budgetary reallocations take place in the US. It is important that job and industry outsourcing be curtailed too. I hate to think of the acrimony that will develop if O'Reilly's worst case scenario happens. It's not going to be pretty.

Repubs and Dems are both stupid. Reagan had a much bigger spending plan (not based on dollars but %'s) than Obama.

Either way...were screwed.

One of the real problems of America's excessive military spending is that in a time of financial hardship pressure will build for America to reallocate money spent on the military to other spending projects like refurbishing the national infrastructure, etc. Webster Tarpley often mentions this as a course that would help to get Americia out of its problems. Like the "New Deal" all over again.

The problem is that history doesn't repeat itself exactly. In our era, as we get closer to the new feudalism and the birth of the American serf class, instead of shifting spending from the military to other projects, it appears as if the money will continue to be spent on the military, but within America as opposed to overseas countries.

The Military Industrial Complex is a cat that has yet to be belled.

There are signs that the government is preparing for the military occupation of America. That will be the new "New Deal". Let's call it the "Raw Deal".

I wish this were not true, but there are lots of signs of it.

OK, so the US$ will collapse.

What does that mean? That there will be a hyperinflation domestically or that it will lose its value against other currencies? While the former will necessarily lead to the latter, the reverse is not true. A collapse of the US$ in international currency markets is not necessarily a bad thing, if not also associated with a domestic hyperinflation. It can lead to increase in US exports and fall in imports, spurring domestic economic growth.

However the likely scenario seems to be a domestic hyperinflation caused by monetising debt. When there are no takers for the new debt that the government looks for or old debt that needs to be rolled over, the Federal Reserve will end up buying it leading to introduction of new money into the system and consequent inflation.

The funny thing is this could have happened any time in the last four years, yet it didn't happen. The government has been able to successfully roll over old debts and make new debt. True the Federal Reserve has been introducing more money into the system through QE, but that doesn't seem to have caused the expected inflation which would have led to bond sell off and even more money into the system if the Federal Reserve ends up buying those bonds. It seems none of the bond holders want to precipitate the crisis by being the first to offload a major share of their bondholdings. So there is only one who can precipitate the collapse, the Federal Government, by attempting to raise debt for which there are no takers.

Originally posted by ipsedixit
Some poor countries have had their debts written off before by wealthy countries. Maybe portions of America's debts will be written off by grateful nations in Europe who were bailed out by America after WW2.

Maybe China will request a more open door immigration policy for Chinese immigrants into the US in exchange for a write down of debt. It wouldn't necessarily have to be an onerous burden of newcomers, like 200 or 300 million. It could be maybe only 50 million or so.

Canada will not stand by and see Americans go hungry. We grow more food than we can eat and would gladly share. I would hate to see Canada trying to profiteer on America's financial embarassment, but it would be nice if America would acknowledge that the Northwest Passage is Canadian territorial water. (It is.)

I hate to say it but an economic downturn in the US could very well represent a big opportunity for the narcotics trade. Drug lords in Mexico could well be unwilling to accept lower profits and anticipating an increase in the numbers of Americans who would rather get high than face reality, they could increase shipments to the US in order to make up in numbers what a drop in price might cost them in a depressed economic situation.

I hope that serious budgetary reallocations take place in the US. It is important that job and industry outsourcing be curtailed too. I hate to think of the acrimony that will develop if O'Reilly's worst case scenario happens. It's not going to be pretty.

edit on 21-1-2013 by ipsedixit because: (no reason given)

Europe is in just as bad of shape as the US, they are completely broke and are going into depression themselves, they have no money to bail themselves out let alone the US. Canada when the rest of the industrialized worlds economies collapse is going to have enough problems of it's own to deal with.

More than half the federal debt is owed to US citizens. Writing it off means writing off social security and medicare benefits. It also means bankrupting many companies, and destroying almost all private pensions and retirement plans. Instant depression and possible civil war.

Cancelling our debt with any outside nation means our ability to borrow a penny goes poof. It also would cause interest rates on any non cancelled debt to skyrocket. Instant depression.

There is no cute way out.

Originally posted by Observor
OK, so the US$ will collapse.

What does that mean? That there will be a hyperinflation domestically or that it will lose its value against other currencies? While the former will necessarily lead to the latter, the reverse is not true. A collapse of the US$ in international currency markets is not necessarily a bad thing, if not also associated with a domestic hyperinflation. It can lead to increase in US exports and fall in imports, spurring domestic economic growth.

However the likely scenario seems to be a domestic hyperinflation caused by monetising debt. When there are no takers for the new debt that the government looks for or old debt that needs to be rolled over, the Federal Reserve will end up buying it leading to introduction of new money into the system and consequent inflation.

The funny thing is this could have happened any time in the last four years, yet it didn't happen. The government has been able to successfully roll over old debts and make new debt. True the Federal Reserve has been introducing more money into the system through QE, but that doesn't seem to have caused the expected inflation which would have led to bond sell off and even more money into the system if the Federal Reserve ends up buying those bonds. It seems none of the bond holders want to precipitate the crisis by being the first to offload a major share of their bondholdings. So there is only one who can precipitate the collapse, the Federal Government, by attempting to raise debt for which there are no takers.

There really is almost no buyers for the debt at these rates as it is. That is why the fed is buying 75% currently.
They have only gotten away with it so far due to them buying up total garbage and claiming they are assets at prices far higher than they are worth. So far the market has let them slide because at the moment it is in the markets best interest too, why because the main market forces are the very banks who are unloading their garbage on the fed. Problem is the junk loans are mostly purchased now and the fed is soon going to run out of bank "Assets" to buy.

Even if the fed continues to play this game successfully, other factors could very well start the dominos of an economic collapse. Several European nations interest rates, large bank failures, Japan economic collapse, war, any one of these could be the trigger that snaps the market into to dealing with reality. Basically the financial system is in a delusion that everything is ok, any of these events will force the truth to be acknowledged globally.

The fed is not all powerful, it will not be able to keep all the plates spinning, it's just a question of when the first one falls, not if.

I never thought I'd say this, but Bill O'Reilly is spot on. The Conservative media is starting to understand what the Liberals are doing and they know they're stuck on the same sinking ship. Make no mistake, Fox News still has it's agenda. But what we're starting to see is a real push towards truth that wasn't there even 6 months ago.

All you Conservative Republicans out there need to understand what YOU helped to put in place. Ron Paul could have won. You chose to run (and vote for) a political dead horse. All you Liberals out there that think Obama is the second coming of Christ, or racists that only voted for him because he's black, stop pushing your socialist welfare state on the rest of us.

We the people are to blame... and it's time we accept that and stop doing what put us in this position to begin with.