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NEW YORK (CNNMoney) -- In the dubious scenario that lawmakers fail raise the debt ceiling and ultimately lead the country to default on its payments for the first time in history, U.S. stocks could tumble 30% over the following six months to a year, according to a Credit Suisse report.
Last edited by Finn_Jarber; 07-29-2011 at 05:59 AM..
And liberals have the nerve to claim its the GOP pushing fear..
Tell me Finn, since you are buying this bs, when people leave the market, what will they do with their money? Buy defaulting bonds?
Tell me Finn, why are we dealing with this issue? Where is the Democratic plan? Where is their budgets?
A stalemate that lingers for even three months could push stocks down as much as 15%, according to the bank's analysts. And each month that lawmakers remain in deadlock over the debt ceiling would shave up to 1% off U.S. GDP.
Which means you are happy Bush ran deficits right? I wont ever hear you moan and groan about them again will I?
This left wing fear mongering, flip flopping on issues, is getting nausiating
NEW YORK (CNNMoney) -- In the dubious scenario that lawmakers fail raise the debt ceiling and ultimately lead the country to default on its payments for the first time in history, U.S. stocks could tumble 30% over the following six months to a year, according to a Credit Suisse report.
Don't worry FB the fed will bail us out. They already handed out 16 trillion the last few years to all their banker buddies. Another trillion to push this can past the election should be no problem.
And yes I agree Obama is practicing political terrorism too. He's trying to create a fake crisis to get folks to do as you say so the market does tank. Hell if he wants it to tank just close the doors at the fed reserve and tell em there is no more QE. Then you'll see the collapse your hoping for so you can pin it on one side.
it really does blow my mind that whenever the banking system came calling, our fair leaders decided that no sum was too large.
but when it's government operations that need the same treatment, suddenly we're broke... as if the banking system was more important than the government.
I think I might understand where the Republican party was coming from on this whole "Debt Ceiling" issue, if they hadn't bailed out wall street, and continued to "protect it" from regulations or clawbacks.
Good let the entire ponzi scheme system fall and implode......what the American people dont want to admit, realize or otherwise fathom because of their apathy, stupidity, or complete ignorance is IT HAS TO HAPPEN! It's easy to sit there and complain and whine like children about how our country is in debt, blah blah blah while no one wants to make the sacrifice or endure the pain and suffering it's going to take to get us out of this mess. Im 32 years old and I have no vested interests in WallStreet, my 401k sucks anyways, I rent, I have a good job, my car is paid off and I will be credit card debt free in a few months. I COULD CARE LESS HOW BAD THE ECONOMY GETS AT THIS POINT! My generation and MY F'ing KIDS are the ones that are going to have to clean up this crap storm of a mess left behind by the baby boomers. And yes while the baby boomers whine and complain about their social security checks they have offered no real solutions to ANY of the financial problems that have plagued this country for the last 50 years. They have run it all into the ground as they are the ones who have run Congress, the Presidency, state and local governments and worst of all the corporations for the last 30+ years. They have chopped up our economy and sold it off to whoever supported their own self interest and greedy motivations. The baby boomers came from the greatest generation yet they are one of the most self centered, self absorbed, and wealthiest generation this country has ever seen. Is every baby boomer? No. But collectively my generation will NEVER have the wealth, opportunity, and lifestyle the baby boomers have and are now living.
The ponzi scheme needs to be abolished and in the end my generation and the future generations of this country will be fine. What WON'T make us fine is if this racket keeps going for another 10-20 years putting us further in debt and further destroying our country. Let WallStreet crumble, let the phony wealth that was created out of debt and thin air of the last 40 years go away...and when the smoke clears what's left standing will be what we can rebuild our country and our economy with. We are Americans and we are a damn tough nation and we have been through worse. We are letting some Wallstreet rating agency dictate our national interest and our national sovereignty? Since when did a country of men and women who believed in a free market, personal liberty, limited government become such a whimpy, whiny nation that can't get anything done. We are a country of cowards that have shopped ourselves into debt, allowed ourselfs to be enslaved by private banks and a monied elite that give two craps about us or our kids and grandkids.
The only people to blame for this mess is US! We elected these idiot politicians. I mean my god........look at Arizonians...........some of the dumbest people on earth.......every election year that gimp of a loser John McCain gets re-elected....and every year he makes a complete fool of himself. AZ is a perfect example of what's wrong with this country. Hell we should sell the entire worthless state back to Mexico. But California isn't any better! Look at the complete and utter losers that state elects into office. Pelosi, Feinstein, Boxer, and Jerry Brown? LMAO! My god!
But what do you expect from a country and a populace that puts A Clinton, Bush II, and now an Obama in the White House. A country that laughs people and true patriots like Ron Paul off the stage calling him a kook and his ideas whacky. Whacky? Whacky is the lunacy that is the voting American public putting these circus clowns into office every year. The American people deserve everything that is coming their way.........it's too bad the informed, intelligent, among them have to go down with the ship!
You have to realize there is a difference betwix "republicans" and conservatives. Then you got the tin foil hat crowd that tries to keep up with these bankers like myself. I started a thread and posted a link to the audit of the treasury released last month. It makes for some disgusting reading the money they handed out left and right. Yeah and now we're broke and are scrapping together pennies on the congress floor to pay social security aug 2nd. All a big dog and pony show IMO.
The thread title illustrates an illogical premise. The GOP will not be alone in "preventing a debt ceiling raise." If both parties can't agree on a resolution, then both parties will be "preventing a debt ceiling raise." Stupid logic indeed.
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