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Patlal
You ask too many questions



Registered: 10/09/10
Posts: 44,812
Loc: Ottawa
Last seen: 6 hours, 4 minutes
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The debt ceiling has been reached... again
#18759874 - 08/26/13 02:47 PM (10 years, 5 months ago) |
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Mid October they're saying.
Of course the Democrates and the Republicans can't agree on anything... Again...
I wonder why cause they both know they're gonna have to raise the debt ceiling. The US dollar will lose value, which sucks for everybody.
The only good news is that China owns that majority of the US debt. Since the US will never be able to pay it back, China will lose a shit ton of money. Yay! lol
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This_Guy



Registered: 06/27/13
Posts: 45
Loc: Canada
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Re: The debt ceiling has been reached... again [Re: Patlal] 1
#18759887 - 08/26/13 02:51 PM (10 years, 5 months ago) |
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It's not even real money anyway...
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18759895 - 08/26/13 02:52 PM (10 years, 5 months ago) |
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Quote:
Patlal said: Mid October they're saying.
Of course the Democrates and the Republicans can't agree on anything... Again...
I wonder why cause they both know they're gonna have to raise the debt ceiling. The US dollar will lose value, which sucks for everybody.
The only good news is that China owns that majority of the US debt. Since the US will never be able to pay it back, China will lose a shit ton of money. Yay! lol
This is why hard assets will always be the best investment! Land income producing property and precious metals will be fantastic stores of wealth no matter what happens to the currency.
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Patlal
You ask too many questions



Registered: 10/09/10
Posts: 44,812
Loc: Ottawa
Last seen: 6 hours, 4 minutes
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Re: The debt ceiling has been reached... again [Re: This_Guy]
#18759896 - 08/26/13 02:53 PM (10 years, 5 months ago) |
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Quote:
This_Guy said: It's not even real money anyway...
At this point, I can probably agree. It's so ridiculous that it doesn't seem real anymore
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Patlal
You ask too many questions



Registered: 10/09/10
Posts: 44,812
Loc: Ottawa
Last seen: 6 hours, 4 minutes
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18759904 - 08/26/13 02:55 PM (10 years, 5 months ago) |
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So I was thinking, would it be so bad the US defaulted on their payment for a month or two? We all know it's bound to happen, you can't keep losing a couple trillion a year and expect not to default eventually.
Does anybody know the direct consequences that defaulting on the payment would do?
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18759909 - 08/26/13 02:57 PM (10 years, 5 months ago) |
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Quote:
Patlal said: So I was thinking, would it be so bad the US defaulted on their payment for a month or two? We all know it's bound to happen, you can't keep losing a couple trillion a year and expect not to default eventually.
Does anybody know the direct consequences that defaulting on the payment would do?
There won't be any defaults the fed will continue to print more currency and devalue the dollar in order to make payments. This will cause inflation and perhaps slow the economy down once again. There is no way out at this point which is why owning tangible physical assets like gold silver and land are the only ways to preserve your wealth.
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russhroom
Plateful of Grateful



Registered: 09/12/11
Posts: 663
Loc: Colorado
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Re: The debt ceiling has been reached... again [Re: This_Guy]
#18759915 - 08/26/13 03:00 PM (10 years, 5 months ago) |
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Quote:
This_Guy said: It's not even real money anyway...
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Patlal
You ask too many questions



Registered: 10/09/10
Posts: 44,812
Loc: Ottawa
Last seen: 6 hours, 4 minutes
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759921 - 08/26/13 03:01 PM (10 years, 5 months ago) |
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Quote:
Gilgamesh18 said:
Quote:
Patlal said: So I was thinking, would it be so bad the US defaulted on their payment for a month or two? We all know it's bound to happen, you can't keep losing a couple trillion a year and expect not to default eventually.
Does anybody know the direct consequences that defaulting on the payment would do?
There won't be any defaults the fed will continue to print more currency and devalue the dollar in order to make payments. This will cause inflation and perhaps slow the economy down once again. There is no way out at this point which is why owning tangible physical assets like gold silver and land are the only ways to preserve your wealth.
I can't believe taxes haven't been raised all around in the US. Sure it's gonna slow the economy, but its either raise revenue or cut somewhere. Since there's apparently nowhere to cut, the only option is to raise taxes no?
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18759932 - 08/26/13 03:04 PM (10 years, 5 months ago) |
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Quote:
Patlal said:
Quote:
Gilgamesh18 said:
Quote:
Patlal said: So I was thinking, would it be so bad the US defaulted on their payment for a month or two? We all know it's bound to happen, you can't keep losing a couple trillion a year and expect not to default eventually.
Does anybody know the direct consequences that defaulting on the payment would do?
There won't be any defaults the fed will continue to print more currency and devalue the dollar in order to make payments. This will cause inflation and perhaps slow the economy down once again. There is no way out at this point which is why owning tangible physical assets like gold silver and land are the only ways to preserve your wealth.
I can't believe taxes haven't been raised all around in the US. Sure it's gonna slow the economy, but its either raise revenue or cut somewhere. Since there's apparently nowhere to cut, the only option is to raise taxes no?
There is trillions to cut its just our spineless leaders don't have the balls to do it. Also raising taxes does not necessarily generate more revenue.
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759937 - 08/26/13 03:05 PM (10 years, 5 months ago) |
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i love economics in the pub
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: memes]
#18759943 - 08/26/13 03:06 PM (10 years, 5 months ago) |
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Quote:
meams said: i love economics in the pub
If you have a disagreement with my assement meams I would like to hear it?
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759952 - 08/26/13 03:08 PM (10 years, 5 months ago) |
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i wasn't responding to you in particular - you just happened to be the last post, hence it 'responded' to you.
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: memes]
#18759956 - 08/26/13 03:09 PM (10 years, 5 months ago) |
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Quote:
meams said: i wasn't responding to you in particular - you just happened to be the last post, hence it 'responded' to you.
Ah indeed
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759964 - 08/26/13 03:10 PM (10 years, 5 months ago) |
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that being said, i disagree with most of what has been said in here, and most of what will be said in here.
how do i know what will be said in here? because i've been debating economics on the shroomery for damn near a decade.
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Mush4Brains
LOOL HACKED!!!

Registered: 07/31/13
Posts: 4,419
Last seen: 9 years, 3 months
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18759967 - 08/26/13 03:11 PM (10 years, 5 months ago) |
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Quote:
Gilgamesh18 said:
Quote:
meams said: i love economics in the pub
If you have a disagreement with my assement meams I would like to hear it?
I do. I want to know where the "trillions" we can cut are. Specifics, please.
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Gilgamesh18
Herbivore Man

Registered: 03/01/12
Posts: 11,671
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Re: The debt ceiling has been reached... again [Re: Mush4Brains]
#18759982 - 08/26/13 03:13 PM (10 years, 5 months ago) |
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Quote:
meams said: that being said, i disagree with most of what has been said in here, and most of what will be said in here.
how do i know what will be said in here? because i've been debating economics on the shroomery for damn near a decade.
Quote:
Mush4Brains said:
Quote:
Gilgamesh18 said:
Quote:
meams said: i love economics in the pub
If you have a disagreement with my assement meams I would like to hear it?
I do. I want to know where the "trillions" we can cut are. Specifics, please.
First and foremost get military spending under control we don't need seven frickin aircraft carriers. Crack down hard on social security fraud and raise the retirement age to 70 to compensate for increased lifespans.
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Mush4Brains
LOOL HACKED!!!

Registered: 07/31/13
Posts: 4,419
Last seen: 9 years, 3 months
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Re: The debt ceiling has been reached... again [Re: Gilgamesh18]
#18760011 - 08/26/13 03:20 PM (10 years, 5 months ago) |
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Specifics, please. With sources.
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memes
Blessed



Registered: 01/11/05
Posts: 27,785
Loc: In a Tree
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Re: The debt ceiling has been reached... again [Re: Mush4Brains] 1
#18760034 - 08/26/13 03:24 PM (10 years, 5 months ago) |
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Quote:
Mush4Brains said: Specifics, please. With sources.
stop trolling him. he gave ideas. they're ones that most rational people agree with.
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Niffla



Registered: 06/09/08
Posts: 46,986
Loc: Texas
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Re: The debt ceiling has been reached... again [Re: Mush4Brains] 1
#18760039 - 08/26/13 03:26 PM (10 years, 5 months ago) |
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It's kind of cool that the debt reached the ceiling. While growing up everybody told the debt that he couldn't do it, that he'd never amount to anything. But I'm telling you, this just goes to show that you can do anything when you dream big and reach for the sky.
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HAIL OUR NEW OTD KING
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druqs
ALKALOIDOHOLIC


Registered: 09/11/06
Posts: 8,862
Last seen: 5 months, 10 hours
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Re: The debt ceiling has been reached... again [Re: Patlal]
#18760045 - 08/26/13 03:28 PM (10 years, 5 months ago) |
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We gotta raise the damn roof!
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