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Old 07-30-2011, 12:09 PM
 
12,231 posts, read 12,318,910 times
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Let's make some predictions about how this is going to go down now, so in a few days we can come back and see how things played out.

Here's what I think is going to happen. I think this is going to go past August 2. I'm not sure how much past, but I think it's pretty clear that the revolutionary Bags, like revolutionaries before them, think that catostrophe and destruction are a good thing.

I think that it's going to hurt the economy, and the blame is going to fall largely on the Tea Bags. The right-wingers who are plugged into the LimBeck propogranda machine will be outraged at this, thinking it's all a liberal media conspiracy, but I think those capable of making up their own minds will see this for what it is -- a Bag revolution that will have serious economic consequences for everyone.

In the end, loyal, patriotic, non revolutionary Republicans are going to work with the Democrats to fix this, but it will be after a lot of damage is already done. The LimBeck machine is going to be outraged at their disloyalty to the Revolution. They will hate the fact that they proved to be Americans first, still loyal to our great nation. They will call to weed out these loyal Americans and replace them with more disloyal revolutionary Bags. The Bag insurgency in the GOP will grow stronger.

Anyone else care to make a prediction?
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Old 07-30-2011, 12:21 PM
 
Location: St. Joseph Area
6,236 posts, read 8,993,243 times
Reputation: 3124
I think it's too early to tell. If the ceiling is raised, it won't solve anything because there will still be uncertainty in the markets and our credit will likely get downgraded again. They'll think this battle will happen again.

If the ceiling is not raised, the Republicans will get a ton of blame (especially the tea party), but I think Obama will get some too, if only because the president gets a lot of blame whenever things go south.

It's very possible that Obama and the GOP will lose their offices in 2012. If the Democrats do win back the house in 2012, They'll vote to get rid of the debt ceiling altogether to make sure this never happens again.
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Old 07-30-2011, 12:25 PM
 
12,231 posts, read 12,318,910 times
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I think you're right that Obama is going to take some heat for this, mack, but this might actually strengthen his re-election chances in the long run. I'm only in the mid 30s, but I already feel like everything is deja vu all over again. When Clinton was locked in pitched battle with the GOP back in the mid 90s over the government shutdown, many thought he was sunk in the re-election. Nope. It actually helped him in the long run.

This isn't the 90s though. I realize we have a lousy economy, and that doesn't bode well for sitting presidents.
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Old 07-30-2011, 12:28 PM
 
Location: Sinking in the Great Salt Lake
13,145 posts, read 21,096,017 times
Reputation: 14071
I am afraid they are going to purposely crash the economy, then make a grab for more power. It's a disturbing thought, and playing with fire like this is insanely risky. They could very well end up burning down this proverbial forest when it inevitably gets out of their control.
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Old 07-30-2011, 12:52 PM
 
Location: Pluto's Home Town
9,986 posts, read 12,787,170 times
Reputation: 5676
Well, my first prediction is that all this will prove to be theater. When they come to the brink, they will compromise. All the older republicans know how it ended in the 1990s, and these folks are all about power.

However, my fear is that this is like a prescribed fire done under the wrong weather conditions. The political posturing of the Tea Party, whose members are intoxicated with their newfound sense of power (they are getting a lot of attention), are not sufficiently aware of the risks. The American economy is very fragile at the moment and anything that tanks the markets, downgrades our credit status, or hits housing again will have a severe effect, I am afraid. I hope the next few weeks don't show that the fire got away from them and burned down the entire forest.

Recall that the hubris of American mortgage banks that were insufficiently aware of fraud and systemic risk, is what brought us to the current Waterloo. They tanked the world's economy for a quick buck.
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