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timelapses
Life in free form



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Is the dollar going to shit?
#14604268 - 06/13/11 02:18 AM (12 years, 11 months ago) |
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Next month, many credit agencies are going to lower the credit rating of the United States unless drastic measures are to be taken to control the budget. Cutting the EPA by 25% and Medicare among other things.
Does Boehner have it right with these plans and other cost cutting measures to cut the budget?
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Shins
Fun guy



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Re: Is the dollar going to shit? [Re: timelapses] 2
#14604321 - 06/13/11 02:30 AM (12 years, 11 months ago) |
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No. Any talk about balancing the budget is useless without reforming the monetary system from the ground up.
Currency in existence = principle. Bonds = Principle + Interest.
(Principle + Interest) - (Principle) = Interest.
Then the interest compounds.
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ShroomyJohn
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Re: Is the dollar going to shit? [Re: timelapses]
#14604330 - 06/13/11 02:32 AM (12 years, 11 months ago) |
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Quote:
timelapses said: Next month, many credit agencies are going to lower the credit rating of the United States unless drastic measures are to be taken to control the budget. Cutting the EPA by 25% and Medicare among other things.
Does Boehner have it right with these plans and other cost cutting measures to cut the budget?
Cost cutting measures are negated by tax cutting measures. Think about it. We're gonna spend 25% less, but we're also going to reduce our biggest source of taxes by 20%. Why even bother cutting 25% then? It is the biggest flaw with any of the "conservative" plans, they don't offset their spending cuts with any sort of income gain. If we were at a balanced budget, it would make sense, but we need to somehow come up with 14 trillion dollars to get back to that.
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blujay
pass it b*ch!



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Re: Is the dollar going to shit? [Re: timelapses]
#14604960 - 06/13/11 08:15 AM (12 years, 11 months ago) |
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Quote:
timelapses said: Next month, many credit agencies are going to lower the credit rating of the United States unless drastic measures are to be taken to control the budget. Cutting the EPA by 25% and Medicare among other things.
Does Boehner have it right with these plans and other cost cutting measures to cut the budget?
LET THERE BE "QUANTITATIVE EASING"!
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memes
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Re: Is the dollar going to shit? [Re: timelapses]
#14605050 - 06/13/11 08:49 AM (12 years, 11 months ago) |
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Quote:
blujay said: LET THERE BE "QUANTITATIVE EASING"!
I dont think that'll do anything. At least not regarding keeping our credit rating where it is.
Quote:
timelapses said: Next month, many credit agencies are going to lower the credit rating of the United States unless drastic measures are to be taken to control the budget. Cutting the EPA by 25% and Medicare among other things.
Does Boehner have it right with these plans and other cost cutting measures to cut the budget?
link? I haven't heard about this. I heard about the downgrade of the "outlook" for the US's fiscal situation, but I would assume they wouldn't downgrade until we failed to act for a while --- and its barely been a month.
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timelapses
Life in free form



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Re: Is the dollar going to shit? [Re: memes]
#14609020 - 06/13/11 09:32 PM (12 years, 11 months ago) |
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What they said on the news was the credit would be downgraded in July if measures weren't taken on the budget deficit to trim it. I can't find a link quickly and I don't want to take more time really to search for it.
I'm sure you'll see a news story on it or reliable article source on it this month or in July.
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Falcon91Wolvrn03
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Re: Is the dollar going to shit? [Re: memes]
#14609056 - 06/13/11 09:39 PM (12 years, 11 months ago) |
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Quote:
meams said: link?
Good job meams.
-------------------- I am in a minority on the shroomery, as I frequently defend the opposing side when they have a point about something or when my side make believes something about them. I also attack my side if I think they're wrong. People here get very confused by that and think it means I prefer the other side.
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timelapses
Life in free form



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Quote:
Falcon91Wolvrn03 said:
Quote:
meams said: link?
Good job meams. 
Your right, I won't post again here unless I have a link. Shouldn't have posted it in the first place just from memory and like any valid journalist, back it up from a reliable news source.
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memes
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Re: Is the dollar going to shit? [Re: timelapses]
#14609564 - 06/13/11 11:14 PM (12 years, 11 months ago) |
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I still dont see a link?
"...I Heard on the news itll happen in july...."
yeah - THE DOLLAR IS GOING TO HELL! SOMEONE HEARD ON THE NEWS THAT IT WILL BE DOWNGRADED IN JULY
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Shins
Fun guy



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Re: Is the dollar going to shit? [Re: memes] 1
#14609586 - 06/13/11 11:19 PM (12 years, 11 months ago) |
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The dollar is already in hell.
There is only enough currency to cover the principle, not the interest.
This is a recipe for massive dramatic deflation if the Treasury does not keep on borrowing exponentially more.
Either way we're trapped in hell with it unless we reform the monetary system from the ground up.
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timelapses
Life in free form



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Re: Is the dollar going to shit? [Re: memes]
#14609702 - 06/13/11 11:46 PM (12 years, 11 months ago) |
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Quote:
meams said: I still dont see a link?
"...I Heard on the news itll happen in july...."
yeah - THE DOLLAR IS GOING TO HELL! SOMEONE HEARD ON THE NEWS THAT IT WILL BE DOWNGRADED IN JULY
Yes, it will be at the top of my list. Once again just watch the news in the next month and a half. Thanks for the mocking (again) Like I said, I won't post here again without a link and not from memory.
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memes
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Re: Is the dollar going to shit? [Re: timelapses] 1
#14609734 - 06/13/11 11:53 PM (12 years, 11 months ago) |
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lol then why dont you take like 3 seconds and go find us a link. if it was on the news then its out there - and you can probably find it pretty quickly. I'm not going to do the searchingmyself, because I'm pretty sure you're full of shit.
if you want to provide some evidence to the contrary, i'm all ears (or eyes, in this case). i'll be waiting.
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timelapses
Life in free form



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Re: Is the dollar going to shit? [Re: memes]
#14610041 - 06/14/11 01:27 AM (12 years, 11 months ago) |
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Edited by timelapses (06/14/11 01:43 AM)
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memes
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Re: Is the dollar going to shit? [Re: timelapses]
#14610888 - 06/14/11 08:47 AM (12 years, 11 months ago) |
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Quote:
timelapses said: If I did that would you not mock me anymore?
http://www.publicbroadcasting.net/krcl/news.newsmain/article/0/0/1813111/Top.Stories/Fitch.warns.U.S..risks.coveted.AAA.credit.rating
Actually it's August second. This is so trivial I'm done here. Hiding the thread.
Well, you did it, and I'm still going to mock you. Why? Because you didn't read the article. OR, you read it and didnt understand it, OR you read it and chose to purposefully misrepresent it. Either way, let me tell you what the article ACTUALLY says:
If the US does not raise its debt limit by its deadline (August 2), then the US Treasury will technically default, and this default will result in a downgrade of US credit (obviously, since we just defaulted)
Lucky for us, I dont think anyone in their right mind would consider letting the government shut down at this point. Sure, the republicans like to posture like they'll "let it happen", but they're just trying to get concessions from the democrats.
So, to sum it up, again: our OUTLOOK has been officially changed to negative. If we can't get any debt plan in place, then in the future, our credit will be downgraded. lucky for us, the VERY FIRST THING our next president will do is come up with an officialy plan to tackle the debt. No1 will do it now becuase its campaign season - no1 wants to provide ammunition for their opponents.
And just to contrast what I just explained with what you originally posted, heres your OP: stating NOT what the article says:
Quote:
timelapses said: Next month, many credit agencies are going to lower the credit rating of the United States unless drastic measures are to be taken to control the budget. Cutting the EPA by 25% and Medicare among other things.
Does Boehner have it right with these plans and other cost cutting measures to cut the budget?
Sooooooooo trivial? Right? Gosh you just shouldn't even waste your time here, catering to us little n00blets who don't know whats going on, right?
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linkamathingy
Aspiring Mycologist


Registered: 10/27/10
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Re: Is the dollar going to shit? [Re: memes]
#14613620 - 06/14/11 06:13 PM (12 years, 11 months ago) |
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QE3, a shitty government and idiot population. dollar isn't the reserve currency of the world anymore, it should fail.
IMO, which is of a laymen economist, it's going to inflate while they monetize the debt. i'd diversify into precious metals if i had enough money to live on even. legislation* and confusion of price with value took all the jobs away.
abolish minimum wage, let the free market be free again by taking the federal government out of it.
oh yeah, Ron Paul for President.
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Edited by linkamathingy (06/14/11 10:58 PM)
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love2shpongleIRL
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Diversification of your investments is always a good idea. Recently, I bumped up from a 10% investment of my overall portfolio in precious metals to 20% because they are performing so well.
-------------------- Only those who will risk going too far can possibly find out how far one can go. T. S. Eliot
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memes
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Quote:
linkamathingy said: QE3, a shitty government and idiot population. dollar isn't the reserve currency of the world anymore, it should fail.
IMO, which is of a laymen economist, it's going to inflate while they monetize the debt. i'd diversify into precious metals if i had enough money to live on even. legislated and confusion of price with value took all the jobs away.
abolish minimum wage, let the free market be free again by taking the federal government out of it.
oh yeah, Ron Paul for President.
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Adden

Registered: 06/04/03
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Loc:
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Re: Is the dollar going to shit? [Re: memes]
#14616036 - 06/15/11 06:57 AM (12 years, 11 months ago) |
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Couldn't have said it better I suppose.
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