Recap of US Debt crisis Friday: Where we are now

Sat Jul 30, 2011 3:07 pm » by **Evildweeb**

House Approves Debt Bill; Senate Rejects It

Published on Jul 29, 2011 by AssociatedPress

In an unforgiving display of partisanship, the House approved emergency legislation Friday night to avoid an unprecedented government default, but the Senate scuttled it less than two hours later. (July 29)

http://www.youtube.com/watch?v=i67Hamwheyw

Cities, States Worry About Impact of US Default

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Published on Jul 29, 2011 by AssociatedPress

As lawmakers in Washington debate whether to raise the U.S. debt ceiling before the August 2nd deadline, state and local governments worry about the impact a U.S. default would have on their finances. (July 29)

http://www.youtube.com/watch?v=XPuk8OpaE04

Markets on Edge As Debt Limit Debate Drags on

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Published on Jul 29, 2011 by AssociatedPress

The word of the day in financial markets: Anxious. (July 29)

http://www.youtube.com/watch?v=VrLpob2x52U

House OKs, Senate Nixes 11th-hour Debt Plan

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Published on Jul 30, 2011 by AssociatedPress

Shrugging off warnings from President Barack Obama that it won't resolve the crisis, House Republicans muscled through a new plan to raise the debt limit, but the Senate promptly scuttled it. (July 29)

http://www.youtube.com/watch?v=Onh41t4wNgw

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Sat Jul 30, 2011 4:28 pm » by **Keniwaki**

It's not just USA, but every country should consider spending less and passing down a financially sound government to our next generation!

Sat Jul 30, 2011 5:38 pm » by **Shaggietrip**

"Where are we now" I say we are screwed that is where.

I wish everyone and theirs the best. Our times are a changin. Maybe this is what Obama ment on the campaign trail. {side note to Harbin: notice the "E" before the "I" in theirs? Yes this is the proper spelling. Except after "C" does not always apply}

Although I may not agree with all of what Brother Gregory says I do find his videos very interesting. Check some out. He touches wide range of issues of course.

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This is not Brother Gregory video but it is good.

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and

Sat Jul 30, 2011 8:34 pm » by **Shaggietrip**

Matthew 7:6
New International Version (©1984)
"Do not give dogs what is sacred; do not throw your pearls to pigs. If you do, they may trample them under their feet, and then turn and tear you to pieces.

I do not know why scripture and religous thing are popping in my head as I read the posts today. I honestly do not have one religion. In my life time so far, I have found that even though there are different religions they seem very much alike to me. Any way I find it a little odd that I am looking up verses.

:cheers:

Sun Jul 31, 2011 12:25 am » by **Newearthman**

This seems like some twisted comedy. Obviously the Americal political system is a joke and all the ploiticians are clueless puppets! I sa America is being taken down deliberatly!

Mon Aug 01, 2011 4:31 pm » by **Santaownsyou**

So we are now at a point were a debt deal seems to have been worked out and it occurred to me that what is being ushered in is the beginning of austerity measures. The whole "debt crisis" / "credit rating" horror movie we have been watching on the news was nothing but a misdirection ploy to distract us from the fact that austerity measures have arrived in the US.

Edit:They were actually able to get people to demand that it happens, anything to avoid the scary movie being played out on the news.

Mon Aug 01, 2011 8:03 pm » by **Evildweeb**

The two worst things that can happen right now --- Monday, August 1st.

The US defaults and the banks devalue the US dollar to the point of absurdity.

Not one penny of US currency will be worth bupkus. - meaning, $2000 US won't buy a loaf of bread. ALL governmental funds will be suspended --- i.e., military paychecks, government salaries, unemployment compensation, government contracts will go unfilled, grant funding, welfare, food stamps, social security, medicare ------ ALL BYE BYE.

The blowback from this will be grocery store owners will be laying guns on the counter.

Remember your 401k? GONE.

Remember your pension? GONE

We should know by Wednesday morning whether it is good or bad.

Stay tuned mi amigos, 48 hours should really tell the tale.

Mon Aug 01, 2011 9:21 pm » by **Santaownsyou**

Default means changes in the way you live, but from the bottom you can only move in one direction, and that is up. Default also means something else that most Americans don't even understand, and that's freedom, not being a slave to the banks anymore. Look at Argentina, their economy is growing now why because they already went through this shit. They got creative and the entire country didn't kill each other. Times were tough yes, but they learned to adapt, and now they are out from under the banks chokehold. Here is a good documentary about lessons learned in the argantine default and how they could apply in America. Granted this video was made in response to the recession, not a default. I personally believe the American system is going to collapse because it cannot sustain itself, so why keep making us suffer though the fear of it happening any day now, and just let it happen already. At least then we can start over and not let the same mistakes be made again, like trusting the banks.

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Edit: it's the second half of the video that I think is relevant it about how the argantinians learned to adapt after their collapse and are now in the process of rebuilding their country.

Tue Aug 02, 2011 12:55 pm » by **Evildweeb**

santaownsyou wrote:Default means changes in the way you live, but from the bottom you can only move in one direction, and that is up......... Here is a good documentary about lessons learned in the argantine default and how they could apply in America. Granted this video was made in response to the recession, not a default.

True Santa, though Argentina has only recently "evolved" from the bottom of 3rd world status, so technically that is apples and oranges.

If the US economy falls through "any day now", we are talking millions of people who have rather blindly enjoyed their excesses and without the capital to continue it are going to have a rather tough time finding food, etc.

This could very well be the "level playing field" but from a more alarming viewpoint.

Wed Aug 03, 2011 1:05 am » by **Keniwaki**

Puppet of the Wall Street, Obama used same tactic as Bush. Fear!
So they agree to borrow more money and promise to reduce debt in next 10 years....
Guess what guys? Your debt filled country is keeping AAA rating. How can a country running out of funds, borrowing more to survive possibly keep AAA rating?
Wake the fuck up, sheeple!
Revolt against ur system!