Obama says: "Raising the Debt Ceiling...Does Not Increase Our Debt"

reply to post by Observor


You might as well throw in the towel if you are going to monetize your debt. I predict that QE will increase, tapering was never in the cards. Same goes for increasing the debt ceiling, the US has to increase it.

Austerity is coming whether you, I or anyone else wants it to or not. There is no solution around this in my opinion.

MidnightTide
reply to post by Observor

 

You might as well throw in the towel if you are going to monetize your debt. I predict that QE will increase, tapering was never in the cards. Same goes for increasing the debt ceiling, the US has to increase it.

Austerity is coming whether you, I or anyone else wants it to or not. There is no solution around this in my opinion.

edit on 21-9-2013 by MidnightTide because: (no reason given)

Sure there is! Put heavy tariffs on asian imports until business comes back.

Globalism doesnt work. When will people figure this out?

Of course short term solutions are also necessary such as raising the debt limit and stopping the war campaigns in the middle east. The fact nato was even thinking of attacking syria for whatever reason under such terrible financial condition tells how purposefully out of touch the american government was and still is. Or the stupid ACA when business cant even stay afloat.

They got their priorities ass-backwards. If I wanted to destroy america I would be doing exactly what obama is doing.

reply to post by EarthCitizen07



The global economy is based on ever increasing consumption on fake credit.

It is a vicious cycle that only results in a crash. Then perhaps change can occur.....if we toss the buggers in charge.

reply to post by MidnightTide



Austerity is coming but as usual it will be for the people not the Wall street mobsters, see since the 2008 Bailout of the too big too fail, something happen that many didn't even realized, the too big to fail became now the too colossal to fail, they used most of the bailout money to buy out small banks that went down during this time, now the Too big control over 65% of the American economy, now you know why this time is going to be worst if this banks goes down, QEs are the band-aid to keep inflation down and the Too Colossal to fail from causing a chain reaction in the now too big to fail global economy.

reply to post by MidnightTide


This is a jewel, see any prospects of an economic recovery are nothing but that "dreams" lies and manipulations.

In order to control the global economy US can no lose its status of a monopolistic empire.

But the truth is that while those on the top line their pockets is at the expenses of those that actually support the economy, the working class, now as we can see is almost annihilated due to same concept that was supposed to make US and the world prosperous, Global economy.

US is not the only one that depend on foreign loans to make ends meet but most of the major economies in the world has fallen for the so call false QEs stability.

Our country currently operates on foreign loans because our government constantly spends beyond its budget. With a lower credit rating, the government would find it more difficult to procure loans and eventually may be frozen out (just as “subprime” borrowers are today) of its needed credit lines. When that happens, the end will have officially arrived and the United States will without a doubt be in, possibly this nation’s worst depression. The question is no longer whether or not this is possible, the question is when this possibility will materialize.

This is not an opinion sadly as you know Is a fact.

economyincrisis.org...

An interesting and ominous perspective from someone with credibility...

kingworldnews.com...

“Not only will there be no tapering, but my forecast is that during 2014 QE will increase substantially. In fact, we could easily see QE double in 2014, and later on I expect trillions of dollars, and eventually even tens of trillions of dollars of money printing each year. This will also mean increased turmoil and chaos in global markets.

So the US is now on the road to hyperinflation. Hyperinflation arises as a result of a collapsing currency and this is exactly what is happening to the US dollar. Back in the late 1960s, when I started working in Switzerland, we paid 4.3 Swiss francs for each US dollar. Now it only costs us .91 for each dollar. That’s a decline of 80%!

Just since September the dollar has fallen 3% against most global currencies. Eric, we are now starting the next leg down in the US dollar. I see the dollar declining around 50% against most major currencies. What I am saying is that the dollar is going to collapse against other fiat currencies, even though these other currencies are just rubbish themselves.

The full source page is a good read.

reply to post by ausername


When the last QE3 came out already the talks of a needed QE4 was on the table, JP Morgan already were suggesting that back in 2012, Bernanke can come out and say anything he wants, specially when the economy is rigged to look good with false and manipulated data, or what many call "sugar coated", the banks now with domination of more than half of the economy will be sucking up those QEs like it was a life support IV.

The scariest thing is that Most of the big banks that now own more than half of our economy, own more To Derivatives than what they have in assets, what this means is that the 2008 is still very much fresh and draining the economy no matter how much sugar coated the numbers are that the banks and the government are giving away

You can no call yourself in the profit end of the deals when you own more toxic assets than what you make on new assets.

It is simple math but many people doesn't get it.

MidnightTide
reply to post by EarthCitizen07

 

The global economy is based on ever increasing consumption on fake credit.

It is a vicious cycle that only results in a crash. Then perhaps change can occur.....if we toss the buggers in charge.

Ron Paul has been bashing the globalists, both directly and indirectly, for years arguing in favor of state rights, a small federal government, and most importantly against keynesian theory. Unfortunately I was a bit late catching on to him as I believed the racism and isolationalist crap they spewed about him at first on msm.

What we need is a healthy GDP, no more wars, a much smaller MIC, less welfare and more jobs. When people make more, then they can afford to pay for healthcare and can afford to pay their fair share of taxation.

Either the government is too stupid to realise you cant squeeze blood from a turnip, or worst(and probably more likely) they are smart enough and evil enough to do it on purpose.

reply to post by ausername

“Not only will there be no tapering, but my forecast is that during 2014 QE will increase substantially. In fact, we could easily see QE double in 2014, and later on I expect trillions of dollars, and eventually even tens of trillions of dollars of money printing each year. This will also mean increased turmoil and chaos in global markets.

That makes some sense.

Especially when the speculations from the FED keep suggesting that they will be cutting back on the amount of QE, and then all-of-a-sudden decide to keep the QE the same !!!

They could be using the very common tactic of saying one thing and doing the opposite !!!

[ the 180 effect ]

The Federal Reserve announced on Wednesday it will continue its unprecedented $85 billion a month bond-buying strategy despite earlier indications it would begin tapering its controversial quantitative easing policies.

The announcement comes as the Fed has downgraded its outlook for the U.S. economy. The Fed now projects that the economy will grow at an anemic 2% to 2.3%, rather than its earlier forecast of 2.3% to 2.6% growth.

Fed Reserve to Continue $85 Billion a Month Quantitative Easing

And when they announce an increase, it becomes the 270 degree effect.

Tangents are amazing !!!



related thread; www.abovetopsecret.com...

reply to post by EarthCitizen07


America is a capitalistic run corrupted country, where margin profits and record earnings have to be kept no matter what even if it means screwing the working class in the path to obtain the goals, as long as those in the top keep their lavish way of living they don't care two rat arses what the rest of population have to struggle with, because after that is what government is all for, to keep increasing welfare.

reply to post by marg6043


During each recession that is exactly what happens. Small business that cant compete with big business because of economy of scale issues and cheating, get gobbled up and thus competition is eliminated.

Once competition is eliminated these too colossal to fail companies have government in their pockets, hence why either democrats or republicans win every single time. They can afford to bombard the airwaves with lies 24/7.

Then business gets bailed out and runs to open up sweetshops in china.

www.census.gov...

reply to post by marg6043

as long as those in the top keep their lavish way of living they don't care two rat arses what the rest of population have to struggle with, because after that is what government is all for, to keep increasing welfare

I agree with you 100%, if you keep the poor down and don't give them much but some crumbs they are happy for a while then they want more and you kick them down again and they just want the crumbs again. Its a vicious cycle that has been going on for years.

I have sat here reading all the previous post and I come to a conclusion on two fronts

The US Government needs a credit Counselor and a reality TV show, They all would fit in with what is on now.

Last makes me want to go get my money out of my 401k and Savings and go and hide someplace away from all the BS.

reply to post by MidnightTide

You might as well throw in the towel if you are going to monetize your debt.

Well, the towel has already been thrown in. What is QE if not monetization of debt?

I predict that QE will increase, tapering was never in the cards.

Agree.

Same goes for increasing the debt ceiling, the US has to increase it.

When no single individual can be held responsible for failing to accomplish something, failures are not impossible. Raising the debt ceiling requires the House and Senate to agree on it. For some unknown reason republicans in the house seem to believe that raising the debt ceiling and preventing governance from coming to a halt is some kind of a favour done to the President and are looking to extract a price for the favour. Obama is not willing to concede anything in return for raising the debt ceiling. So he is likely to take the HVPCS route to raise the money needed to continue governance without a debt ceiling raise. Unless the house republicans realise his game plan and agree to raise the debt ceiling for some nominal concessions from the President on other matters, their trump card would be neutralised by the HVPCS route.

Austerity is coming whether you, I or anyone else wants it to or not. There is no solution around this in my opinion.

The alternative to austerity is inflation by money creation by government (HVPCS route) and that is more likely with Obama than austerity. We don't have long to wait to know which will happen.

reply to post by EarthCitizen07


Yes, that is how the once Too big too fail are now the too Colossal to Fail, they bought out all those that could not survive the crash, sometimes I wonder if this was a deliberate move after all, Wall street is a monopolistic entity.

reply to post by 19KTankCommander


It doesn't sound good either to know that most of our political whores in congress are pimped out by Wall Street.

If you want to know who really runs the government just look at the big names within Wall Street.

But like you my husband have his investments and because they are taken before we know they are there we just keep life as usual, we lost a lot of money on 2008, so we just live with what we have and the rest is just something we do not count on it because we don't know how things will be ten years from now.

If you do not really need your investments, unless is an emergency, just leave them alone for the time being, taken them out is just going to be a wasted anyway, at least they are protected by the crocks for now, I mean by the government.

reply to post by EarthCitizen07

Globalism doesnt work.

It works admirably for people with access to capital.

They got their priorities ass-backwards.

They got their priorities straight alright. You don't seem to have understood their priorities.

If I wanted to destroy america I would be doing exactly what obama is doing.

Globalisation didn't begin with Obama. Not that he has any plans to reverse it.

reply to post by Observor


And you condone globalism? You dont realise the $17 trillion debt has accrued because of the trade deficit we have been incurring the last 25 odd years, that causes unemployment, a weak GDP, inflated welfare needs, and the constant need for borrowing?

No wonder the country is going in the wrong direction.

If people are unemployed they dont pay taxes, THEY COLLECT!

reply to post by xuenchen


The real question is .. "Did he really ever have it?" Today the media can polish almost any turd who will say the right things and pander to his money donors .... The left/right paradigm is more evident every day... so when a tipping point is reached a revolution will come to America.... I have my pitch fork ready!

reply to post by Observor


Globalism is killing American working class, but "those with capital" usually the elite class with lost of money, love it as they can move their productions oversea (outsourcing) to exploit other countries slave class, while influencing the government whores with (insourcing), sadly is also killing Americas economy.

marg6043
reply to post by Observor

 

Globalism is killing American working class, but "those with capital" usually the elite class with lost of money, love it as they can move their productions oversea (outsourcing) to exploit other countries slave class, while influencing the government whores with (insourcing), sadly is also killing Americas economy.

edit on 21-9-2013 by marg6043 because: (no reason given)

Mostly the rich buy lots of government bonds, so naturally they want the government to have deficits because it increases the debt, which means more government bonds need to be issued. Its a safe investment for them to collect interest until the bonds mature.

Rich also play the stock market in terms of common and preferred stock with thousands or even millions of shares in blue chip companies that are heavily invested overseas. They invest overseas because of the very cheap labor there. In america they would have to pay minimum wages, plus health insurance, plus keep pollution low.

The only thing that can correct this is tariffs but its become a dirty word for the rich. The rich want free trade so they can invest. The working class means nothing to them. They are virtually slaves.

It really is the 1% versus the 99% and that is why I supported occupy. I am not an obama robot. Obama is a yes sir evil puppet.