Centrist Think Tank Conducts Study, Finds US Default "Could" Push Country Into Recession

Could plunge into a recession?

Try apocalyptic depression...mad max scenario in 5 to 10 years!

Yes we have to keep raising the debt ceiling in the forseeable future, till the government stops wasting money and not only balances the budget(like clinton did) but actually have surpluses to pay off the debt! Of course its possible and I would start by raising taxes, leaving all war fronts with minimum skeleton crews to cut down on DOD spending, repair medicare/medicaid, social security and welfare and perhaps work out a delayed repayment schedule to prevent bankruptcy.

The problem is not the debt ceiling that can be raised indefinitely, the problem is our credit worthiness keeps dropping and our treasury bonds will become junk bonds. Under such circumstances the interest rate will keep going up making eventual payment nearly impossible. We should have quit this catastrophic cycle a long time ago, so it brings up the question "how much ineptitude justifies a conspiracy?" and why is it that republicans love to whine about the economy but they always spend twice as much as democrats?

Originally posted by EarthCitizen07
Could plunge into a recession?

Try apocalyptic depression...mad max scenario in 5 to 10 years!

Yes we have to keep raising the debt ceiling in the forseeable future, till the government stops wasting money and not only balances the budget(like clinton did) but actually have surpluses to pay off the debt! Of course its possible and I would start by raising taxes, leaving all war fronts with minimum skeleton crews to cut down on DOD spending, repair medicare/medicaid, social security and welfare and perhaps work out a delayed repayment schedule to prevent bankruptcy.

The problem is not the debt ceiling that can be raised indefinitely, the problem is our credit worthiness keeps dropping and our treasury bonds will become junk bonds. Under such circumstances the interest rate will keep going up making eventual payment nearly impossible. We should have quit this catastrophic cycle a long time ago, so it brings up the question "how much ineptitude justifies a conspiracy?" and why is it that republicans love to whine about the economy but they always spend twice as much as democrats?

I got a feeling collapse is coming a lot sooner... once again I don't think its a party issue per se, its more like the inherent failure of a Keynes/Fiat system. They do not last forever... and eventually explode in exponential debt, debasement.

reply to post by pityocamptes


Did I read that right up to 202 trillion,I can't comprehend a figure that high, would that buy nearly everything in the world or for example say all the gold in the world. I think thats why most people don't get the debt because we don't have a yardstick.

Originally posted by pityocamptes

Originally posted by EarthCitizen07
Could plunge into a recession?

Try apocalyptic depression...mad max scenario in 5 to 10 years!

Yes we have to keep raising the debt ceiling in the forseeable future, till the government stops wasting money and not only balances the budget(like clinton did) but actually have surpluses to pay off the debt! Of course its possible and I would start by raising taxes, leaving all war fronts with minimum skeleton crews to cut down on DOD spending, repair medicare/medicaid, social security and welfare and perhaps work out a delayed repayment schedule to prevent bankruptcy.

The problem is not the debt ceiling that can be raised indefinitely, the problem is our credit worthiness keeps dropping and our treasury bonds will become junk bonds. Under such circumstances the interest rate will keep going up making eventual payment nearly impossible. We should have quit this catastrophic cycle a long time ago, so it brings up the question "how much ineptitude justifies a conspiracy?" and why is it that republicans love to whine about the economy but they always spend twice as much as democrats?

I got a feeling collapse is coming a lot sooner... once again I don't think its a party issue per se, its more like the inherent failure of a Keynes/Fiat system. They do not last forever... and eventually explode in exponential debt, debasement.

You mean "spending your way out of the recession" is bad?--------->YES I AGREE!

reply to post by EarthCitizen07

Spending your way out of a recession is a horrible thing, especially when the FED prints money out of thin air thereby devaluing the dollar even further. I agree that we're going to have an apocalyptic depression if things keep up this way. I know there's a thirst for REAL change (not the Obama kind) in this country but who would step up and lead the charge when they would be labelled a "domestic terrorist" and executed? It's just sickening how far things have spun out of control.

Originally posted by pityocamptes

Originally posted by camaro68ss
reply to post by pityocamptes

 

its 4 hours out, i can get there with one tank of gas but also will be bringing a back up 30 gal of gas in the truck bed. Only thing that sucks is i have to pass alot of bridges and choke points. Thats why bugging out is important the first few hours or in the middle of the night after the crash before everyone wakes up and relises there F*****

Though that is a valid concern, that is not the main reason why you should really focus on getting to a point no more than 3 hours away...

what would this main reason be? I need to cover all bases

Originally posted by ShAuNmAn-X
reply to post by EarthCitizen07

 

Spending your way out of a recession is a horrible thing, especially when the FED prints money out of thin air thereby devaluing the dollar even further. I agree that we're going to have an apocalyptic depression if things keep up this way. I know there's a thirst for REAL change (not the Obama kind) in this country but who would step up and lead the charge when they would be labelled a "domestic terrorist" and executed? It's just sickening how far things have spun out of control.

What do you mean "printing the money out of thin air"? You mean its not backed by gold/silver?......

I doubt ANY CURRENCY in the world is backed by precious metals today. That was probably a long time ago!

BTW the money the government gets is NOT from the Federal Reserve. Its from tax money, tariffs, treasury bonds and direct loans. If it was that easy, the government could COVERTLY ISSUE money to pays its debt by printing it itself.

reply to post by pityocamptes


These folks are either insane or stupid.

We ARE in a recession and bloody damn near a depression....if not already.

Unemployment is sitting around 20%. Thats depression folks.

how could a default lead to a recession?

isn't that putting it lightly?

isn't placing the country into default status kind of a depression or worse?

think about it...

I know many are bent on gold or silver, etc. but in a real global event (which on group of economists have indicated would take less than 15 minutes for the world to simultanously collapse) people will trade and barter for useable commods.

reply to post by pityocamptes


Where do I find the information on oil futures??

Originally posted by camaro68ss

Originally posted by pityocamptes

Originally posted by camaro68ss
reply to post by pityocamptes

 

its 4 hours out, i can get there with one tank of gas but also will be bringing a back up 30 gal of gas in the truck bed. Only thing that sucks is i have to pass alot of bridges and choke points. Thats why bugging out is important the first few hours or in the middle of the night after the crash before everyone wakes up and relises there F*****

Though that is a valid concern, that is not the main reason why you should really focus on getting to a point no more than 3 hours away...

what would this main reason be? I need to cover all bases

CoG, CooP, and ML kick in. In place at a minimum of 3-6 hours. Everything gets shut down...

Originally posted by spyder550
reply to post by pityocamptes

 

Where do I find the information on oil futures??

www.intrade.com...

We're pretty much in a depression, let alone a recession. People still losing jobs left and right of me...
What a great thinktank

reply to post by EarthCitizen07

Sorry I got a little off track there. The FED has printed money to "inject" it into the economy before. As for taxes, they are a joke because some of the biggest sources of taxes (i.e. GE) end up getting away without paying any. I agree with an earlier post, I think Ross Perot's flat tax would solve some money issues. Granted it would have to be worked through and these multi-billion dollar corporations should lose the loopholes that they are currently using to avoid pating taxes. If the loopholes were gone then taxes would fix the deficit within 5-10 years.

reply to post by pityocamptes


Intrade is a betting exchange -- it is saying dec oil is about twice what the real futures market is trading.

What I want to know is who is this think-tank? I've looked all over for this 'Third Wave', but found nothing...