here's a pre-crisis documentary on the topic. i think it's going light on what could happen. never mind the usual 'i know something you don' t!!!!' untertones.
Aside from the chorus, where do you get that idea? So bureaucrats won't have the ability to spend more imaginary money they haven't got. Christ. If ticks ever learn to speak, they'd tell us how vital it is to the world that they suck our blood. Same tactics, but at least it'd be a new parasite.
you do know that neither your fantasy ideology nor any other has meaning when it comes to business, don't you. a US default, even a 'technical' one at this point in time is not internet libertarian wonderland, it's pretty much doom on a scale making 1929 look like a pleasant, uneventful year in economic history. point is: putting businesses aside for a moment, a billion people or more have investments in dollars. pension funds, savings, whatever. dollar goes boom, so does their wealth. no more money to buy stuff, trouble for the real world economy. simple enough for you?
Not relevant to the question. Unsupported assertion. Second unsupported assertion. A blank check for the Feds isn't necessary for the stability of the world economy. Of course, the Feds will scream that it is, and their cheerleaders will scream that it is, because why would they not? A hungry baby doesn't calmly engage in reasoned argument, it screams at the top of its lungs. A hungry, spoiled government does likewise.
She shouldn't have to cater to your ignorance, especially on a widely agreed upon conclusion. This nonsense caused a market crash the last time, deleted a vast amount of money from the marketplace, and raised the cost of business and government in this country for the next decade. Damn you or anyone else even suggesting we play with fire again.
Appeals to consensus will not get you far with me. And I assume that you can substantiate that? "According to Gingrich, positive impacts of the government shutdown included the balanced-budget deal in 1997 and the first four consecutive balanced budgets since the 1920s. In addition, Gingrich stated that the first re-election of a Republican majority since 1928 was due in part to the Republican Party's hard line on the budget.[18][19] The Republican Party had a net loss of three seats in the House in the 1996 elections but retained a 227-206 seat majority. In the Senate, Republicans gained two seats." http://en.wikipedia.org/wiki/United_States_federal_government_shutdown_of_1995_and_1996#Result Condemnation from someone agitating for even greater government corruption and profligacy won't get you any farther than fallacies will.
Conversely, when the Government shut down repeatedly in the mid 1990s, it was widely looked upon as an era of growth and prosperity.
Are you contending that there was actually a shutdown involved with that? And how, exactly, did that raise the cost of business?
Nothing says "I win, yay me!" like dismissing the other person's motives out of hand. Whatever indeed.
Also of interest in all the shutdown hysteria is the hysteria itself; Federal government shutdowns occurred 8 separate times under Reagan, and 5 times in a Federal government where not just the White House, not just Congress, but the White House, Congress and the Senate were Democrat-controlled, that administration being Carter's. All of this partisan bile about how "the GOP is going to doom us ALL!" is flatly dishonest and, beyond that, nothing but the basest of fearmongering and a calculated ploy to manipulate the underinformed for political gain.
Great. It was just as detestable to collect people's taxes and deny them public services then as it is now. To say nothing of the effect that these layoffs have on the economy or people's livelihoods. I'm sure our best and brightest can't wait to serve their country.
fascinating. johnny seems to have difficulty keeping apart the shutdown and a full fledged default. or... he's playing stupid and thinks that makes him this century's bestest troll both possibilities are sad.
We're not at a default. Even if the debt ceiling isn't raised, that won't cause a default. But I find it humorous that you accuse me of being unable to separate shutdown from default when you're the one who insists that the current shutdown will lead to a default while providing absolutely nothing by way of reason or evidence with which to connect the two.
as for a connection: both problems are caused by debt strangling the govt's ability to act. this wouldn't happen if there was money in abundance. technically, however, it's just a perfect storm.
FTFY. I really don't understand this fixation with government being given more money, more power, more more more. Actually, I can understand governments' fixation with it; what I can't understand is anyone outside government agreeing. Sincerely, that's simply baffling.
Not going to happen. Even if the debt ceiling isn't raised the government pulls in more then enough taxes to pay it's current bills and debts. The problem will be that those bastards won't be able to spend more money which is a good thing as we already spend too much. However we are going to have a major Constitutional crisis because Obama and his leftist friends are already laying the groundwork for him to raise the debt ceiling on his own without Congress approving it.
The markets will make an exception for the US. Oh there'll be panic, there'll be consequences and there'll be a massive economic wobble - but no armageddon. Investment grade will now consist of AA level and US bonds, even if the the likes of S&P say they're junk. This whole shutdown is a curious affair - it's highlighted how utterly fucking stupid Obama was not to Play Nice when first elected, ensuring little cross-party support, how desperate the Democrats are for something for history to look kindly upon Obama's Presidency, how desperate Boehner is to hold on to his position (he could call a floor vote and end this any time), how riven with dissent the Republicans are and just how polarized Urban/Rural America has become. Nobody comes out of this too well. And the comedy is, the Tea Party are rapidly heading towards a genuine Third Party in the US - here's one baby the Republicans would love to abort - as the Republicans cannot continue with them within. The Tea Partiers would normally be congratulated - after all they refuse to play the usual games where for nodding in agreement they get tossed a bone, and represent some actual independent thought - yet are now holding both the Republicans and the Government hostage. Hopefully the next Democrat President - sure as shit isn't going to be a Republican one next time - will be studying Obama's mistake, and be noting how being a snotty prick in his first couple of years has drained the usual grease that keeps DC ticking over, and how what seemed like little other than something that would lead to self-inflicted wounds has instead led to this festering sore.
that's hope. but this time i doubt it. the rating agencies have lost all grip on the markets, they are pretty much laughing stock by now. stuff is decided by deeds, not corrupt moody's analysts. just look at some european countries. the agencies did their damdest to break them and nobody played along. as for the US... their debt is something like a quarter of the planet's GDP. can't be ignored. a default is the worst case scenario. only hope is, if they can't get to an agreement, they do after a few hours. even such a scenario would send shockwaves across the globe.
Exactly - right now a lot of investment material is graded according to those agencies. A US in default would be stripped to junk, theoretically taking them out of most of the markets. The market won't let that happen, they're too addicted to US debt and the US will eventually come good on those debts, so they'll carry on regardless. 'Til the next problem anyway. Maybe those shockwaves are needed. The credit crunch pretty called time on the current state of affairs, and so far everyone is ambling along in the hope it was a false alarm, perhaps a much bigger kick in the worlds collective balls will provide the much needed impetus to start plotting the next stage in our societies rather than keep banging a sledgehammer into the current system. We need to admit government intervention (at the publics behest) has pretty much killed capitalism, what started off as an economic model mangled by empires for their own ends and has now ended up with lots of silly shit bolted, welded and glued to the sides and now resembles a battered crack whore crawling out of a back alley, oozing fluids not all her own, rather than what it started off as.
As if this Administration gives a damn for law. Speaking of, you know what I discovered? Obamacare is not the law of the land -- not legitimately. As passed, it was unconstitutional. Justice Roberts made it Constitutional, but in so doing -- by declaring the penalty for non-compliance to be a tax -- he invalidated it as law. Laws regarding new taxes can be passed only by Congress. Obamacare was passed by the Senate, not by Congress.
