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| Heh CONgress: I Hope The Debt Market Revolts in forum [Market-Ticker]
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Jubber
Posts: 14009
Incept: 2007-07-05
UK
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I agree Karl but if the FED is the buyer, and owns a huge percentage already, how exactly does this happen?
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“The problem with socialism is that, sooner or later, you run out of other people’s money.” Thatcher
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Genesis
Posts: 130692
Incept: 2007-06-26
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Further Fed buying will simply lead to open revolt as people starve.
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I don't care if it makes sense -- only if it makes money. -- Me
Bank (n): See scam, fraud and theft. Eat a bankster -- they're low-carb.
What part of "shall not be infringed" was unclear?
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Avianphlu
Posts: 3922
Incept: 2008-12-03
Ulster NY
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Delapaz
Posts: 61
Incept: 2009-04-29
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Congress passes a law that USG debt must be rated AAA. Done.
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Eli
Posts: 7188
Incept: 2007-09-10
Online
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If we will delay the spending cuts things are bounded to turn around.
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If you want a vision of the future, imagine a boot stamping on a human face - forever.
George Orwell
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Jinxx0r
Posts: 4230
Incept: 2007-08-10
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Quote:because we have 535 cowards in Washington DC who are incapable of discharging their duty to the US Constitution and their oath of office, who are daily traitors to the duties of their job 536... you forgot the president (I know spending originates in the house, but the leader of the country could at least lead on the issue of a budget and spending cuts, but hasn't). |
Crzymorse
Posts: 1189
Incept: 2010-06-25
Maryland
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Seal Team Six will visit Egan-Jones.
The reality is the automatic spending cuts were a convenient way to allow the Republicians to save face on the self-inflicted Debt Ceiling Fiasco. They backed themselves into a corner and had to accept automatic cuts of all things to military spending. Now they are trying to delay the automatic cuts to defense (their own constituency) and the Democrats will extract another pound of flesh from the Republicians to delay the cuts.
Republicians are the party of the stupid run by the stupid. Just look at the poster children, Hannity and Rush (Dumb and Dumber). The Democrats actually have the Republicians playing russian roulette with themselves again.
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Aliveh
Posts: 4043
Incept: 2008-01-18
Los Angeles
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almost a year ago i first started hearing that this was the plan all along...
lame duck session of congress - repeal the automatic cuts...
if I knew this for this long I'm pretty sure it's been in the bond market for a while...
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Swrichmond
Posts: 327
Incept: 2009-02-12
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My favorite quote from the article is this one:
"The outcome of the November election will help determine what action Congress will take to avert the automatic budget and tax changes."
As if the one-party system is really capable of making a hard choice here...OMFG. Does anyone really believe that anything will "change" if either Obama or Romney is elected?
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Iou
Posts: 1025
Incept: 2009-03-16
The Twilight Zone
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It's our only hope to stop the madness. The only thing those 535 asshats are good at is can kicking. It works until it doesn't. Then what?  If you're looking for someone to blame take a look in the mirror. We're all at fault for letting this go on for so long. IMHO, it's too late and we've already sailed over the edge. Gravity is about to take over. Prepare accordingly.
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"When plunder becomes a way of life for a group of men living together in society, they create for themselves, in the course of time, a legal system that authorizes it and a moral code that glorifies it."- Frédéric Bastiat
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Sean
Posts: 1766
Incept: 2009-04-21
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* I think Ann Barnhardt is more and more right. God help us!
* Progressives / Marxists / Communists are many things, STUPID and IMPATIENT are not two of them.
* A hot civil war is coming.
* And people wonder why I prep!
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Irishblues
Posts: 283
Incept: 2010-12-18
Wisconsin
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This really shouldn't be a surprise to anyone; if anything, it's a surprise they waited this long to admit as much.
Things that will never be done again because it might hurt the often-alleged economic recovery:
1. Cut government spending [especially on already bloated programs that are growing faster than the economy]
2. Raise interest rates
3. Force bondholders to take losses
4. Punish fraud and reckless behavior committed by banks
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Rutben
Posts: 1414
Incept: 2007-07-27
Phoenix, AZ
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If you believe the premise of the book, this is about the most glaring example of the "Righteous Mind" in action, i.e. reason is secondary to "defending" one's intuitions. No need for any more research to prove it. They will take it to infinity.
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Sandor
Posts: 1944
Incept: 2007-08-08
Deltaville,Virginia
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Balanced budget = instant depression = no incumbents.
So, if you balance the budget, you will lose your job.
There will NEVER be a balance budget, until the reset.
Plan accordingly.
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Trades50
Posts: 4214
Incept: 2007-10-30
Land of Tax and Spend
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Until the FSA starves nothing changes.
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When the people fear the government, there is tyranny. When the government fears the people, there is liberty. - Thomas Jefferson
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Asimov
Posts: 103908
Incept: 2007-08-26
East Tennessee Eastern Time
Online
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You're giving liars far too much credit comparing them to politicians.
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It's justifiably immoral to deal morally with an immoral entity.
If you trade based on what other people say, you will lose money. Especially what I say. I won't be held responsible. Festina lente.
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Noodleman
Posts: 2389
Incept: 2008-11-01
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All of them wantonly lie and deceive, democrats and republicans alike. All the republican congressmen in my area voted for the debt ceiling increase and told us not to worry because the Stupid,,,,er,,,,Super Committee would save us otherwise the automatic cuts would kick in and force austerity. All Bull****. Now all of them will undoubtedly favor the time extension on the cuts figuring that the people have short memories and are easily fooled. It would be about the same as signing over the management of my personal finances to a common street *****. Don't expect any good outcome here. The American citizens are really no more effective in exerting our will than are the Afghans or Sudanese. The large, large majority of us just do as we're told and follow the enlightened to the edge of the cliff and jump when instructed to do so.
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"Ammunition beats persuasion when you are looking for freedom." Will Rogers, 4 Nov 1879 - 15 Aug 1935
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End_the_bubbles
Posts: 9519
Incept: 2009-03-25
The New 3rd World
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When do we line them up?  Or do we keep ****ing around another 4 years?
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In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet and rise in rebellion to overthrow their masters.
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Lowbeyond
Posts: 16875
Incept: 2008-02-11
CO aka West NJ/East CA
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This is why any proposed plan that has tax increase and spending cuts should be a non-starter.
The tax increase will start on day 1. The spending cuts will never happen.
The only rational plan is to cut taxes (deeply) across the board so at least you can keep more $, then just wait for the flash...
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Maybe it was a birdy bread-bomber from the future?!
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Themortgagedude
Posts: 8849
Incept: 2007-12-17
saint louis
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Raise taxes by 10% and cut spending by 50% immediately. K winter will not be denied. Bring it on Bitches! I want it done before my kids grow up.
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I'm already visualizing you with duct tape over your mouth.
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Tesla
Posts: 15541
Incept: 2008-04-03
State of Disbelief
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Really, you want to give a drunk another bottle of whiskey ? They'll never stop spending; remember oh a mere 4 years ago when the left AND much of the right and all of the media were flaying Bush alive for a mere 400B budget deficit ? And they're spending WHAT now per year ?
No, no more taxes. It's just a big waste.
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"Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes
"Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams
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Lowbeyond
Posts: 16875
Incept: 2008-02-11
CO aka West NJ/East CA
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Quote:Raise taxes by 10% and cut spending by 50% immediately. You will get your tax increase. Then even if they cut spending 50%, the next day there will be an emergency omnibus spending measure to restore the 50% and add another 5%. But the tax increase will stay
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Maybe it was a birdy bread-bomber from the future?!
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Themortgagedude
Posts: 8849
Incept: 2007-12-17
saint louis
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Taxes don't really matter - you can lower them or raise them. Any government spending is a tax upon the people. Either taxing our past, current or future earnings. I'm all in favor of just admitting we've been screwed and balancing our budget now by whatever means necessary. It's time to put on the big boy pants.
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I'm already visualizing you with duct tape over your mouth.
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Lowbeyond
Posts: 16875
Incept: 2008-02-11
CO aka West NJ/East CA
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big boy pants, what does that mean ?
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Maybe it was a birdy bread-bomber from the future?!
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