Forum whore
Yeah, trouble is the public is gullible and greedy. We always want more than we can afford and the reason NZ and Aus have to a large extent been spared is the banks haven't been as reckless and greedy over this way.Originally Posted by oneofsix
Offer many people easy credit and they will take it and worry about tomorrow when it comes. Then they blame the creditors for their folly... "It's your fault for giving it to me when you knew I couldn't afford it!"
You don't get to be an old dog without learning a few tricks.
Shorai Powersports batteries are very trick!
FORCE V4
August 2nd debt ceiling deadline for USA. All the borrowed time comes to an end as America defaults and sinks into a dark age. Social unrest and chaos rampages through the country as it plunges into the abyss; we cross the verge of a great transition in the western life as our biggest influence we have ever known becomes no more. Have a nice trip!
...Full throttle till you see god, then brake.
ArseBiscuit
Doom and gloom, man.
http://www.telegraph.co.uk/news/worl...rine-base.html
Anarchic Wild Child
Yes. Marx describes the cyclic nature of Capitalism - complete with wars ... there are huge economic benefits to wars . unless they cost more than the country can afford .. The first and second world wars were "affordable" ... and many capitalists got very very rich ... the current US wars are not ... the country's going broke while corporations like Haliburton make huge profits ...
"So if you meet me, have some sympathy, have some courtesy, have some taste ..."
Forum whore
It's a scary thought. I wonder how your average Joe in the US perceives the future should they default. Will they knuckle down & re-build the economy or throw their toys out the cot?
Are'nt we supposed to be making a $4 billion debt payment soon too?
Anarchic Wild Child
Shit - we'd better get A LOT of speeding tickets to cover that
"So if you meet me, have some sympathy, have some courtesy, have some taste ..."
Forum whore
If they default, think of Greece 10x over. However I doubt congress will allow that this time, they're over a barrel and not in a position to argue the point without shooting themselves in the head.
There's a lot of politicking and postulating and finger pointing as members and parties try to make the most of the situation for their own political ends, but the bottom line is either increase the debt ceiling or die. They desperately need to buy, (literally!), time to try to sort things out longer term.
Many naysayers mocked two or three years ago when the proverbial hit the fan and world watchers warned this was going to happen. "No!" they said, "The Powers won't allow it!" Sure enough, as governments and bankers talked up the "progress" and the signs of recovery, the deniers crowed. I wonder where they are now...
A prominent figure said at the time of the WFC that the world will have to find another way of doing business. Still looking for that way as country after country sinks into default threatening the total collapse of the entire world's economy.
This is mainly affecting the Western world at the moment which will take down the third world with it as aid and business deals dry up. The Moslem world is fracturing from within and returning to tribal and cultural conflict as terrorism takes advantage of civil unrest, having failed to make as dramatic effect on the West as Al Qaeda predicted. Leaving the East, China, Russia etc. looking to opportunites for peacefully gaining the upperhand.
As has been said, the Chinese are very patient and can afford, both financially and psychologically, to wait for the right time. The Russians aren't as patient or as wealthy as the country has its own financial woes in its aging and antiquated infrastructure and very high unemployment levels, but they are staunch and aggressive and ready to flex their muscles.
You don't get to be an old dog without learning a few tricks.
Shorai Powersports batteries are very trick!
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Just print more money - seems easy
Quote Jan 2020 Posted by Katman
Life would be so much easier if you addressed questions with a simple answer.
Loud and Uncouth
Seems the Western world is going down the gurgler financially and the Eastern world is collapsing into civil war and terrorism. Peaceful and stable countries are being hit by natural disasters of all kinds and the wind is cold in my street.
The US has until next month to raise money or default and the only way is to take on more borrowing putting the country at risk of owing more than it's worth. The West has been living beyond its means for a very long time and the Piper wants paying, the chickens have all come home to roost and not enough of the eggs layed have hatched.
Europe is scared of the consequences of Italy defaulting as it could lead to the collapse of Europe's economy. So the most powerful nation on Earth, seen as the backstop for everything, is broke! I believe they will pass the legislation to borrow more, but obviously that would only delay the inevitable for a short while. What would happen if the US defaulted?
Russia, China, Hong Kong and Korea have been strangely quiet over the financial issues facing the West, are they playing a waiting game?
Fark you know some quaint phrases!!
But yes, consternation rules supreme with the fiscal imprudence of the Western countries and their ilk..
Winding up drongos, foil hat wearers and over sensitive KBers for over 14,000 posts...........
" Life is not a rehearsal, it's as happy or miserable as you want to make it"
The Sharif don't like it!
We've had our turn, now it's theirs.
-Indy
Hey, kids! Captain Hero here with Getting Laid Tip 213 - The Backrub Buddy!
Find a chick who’s just been dumped and comfort her by massaging her shoulders, and soon, she’ll be massaging your prostate.
Forum whore
LOL! When I was born, and the Doc slapped me on the bum, it was to tell me to shut up so he could get a word in edge-wise...
You don't get to be an old dog without learning a few tricks.
Shorai Powersports batteries are very trick!
Having a Zen moment...
Might have left out the uber-wealthy, there. Yes the sheeple have a hand in spending beyond their means (and being so bloody compliant), but the very very wealthy have been doing quite OK out of this crisis, as per usual.
Pfft. Like they don't already.
Based on past experience, and the fact that the Yanks have a LOT of guns, and that the default response of humans in times of scarce resource is to fight over them, my guess is you are quite right.
Absolutely. But if that nice Mr Key wants to do it everyone thinks he's awfully clever for thinking of the idea, because he's on the blue team, doncha know?
In essence, debt is money, and money is debt. Have a listen to these if you have a long time to spare...
http://www.antiscia.com/wizardsofmoney/
Redefining slow since 2006...
Highway Biker
When the interest rates went up in the States we are talking from 2% rising to 4 %.
The rest of the world except Aussie and NZ stops at 6%, we don't even stop borrowng at 8%.
Also most US States you can walk away from your house if you go broke, bank takes the house but can't get anymore blood from the stone walked.
The metal is always nude.
Does this mean that Don Trump Snr won't be as rich as he thinks he is very soon?
He'll have to get a $2 Shop toupee for his head if that's the case..
"...you meet the weirdest people riding a Guzzi !!..."
His Excellency
One stroke of a pen closes that gap to nothing.
Banks do it every day.
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