U.S. debt crisis sends first waves through Wall Street

U.S. debt crisis sends first waves through Wall Street

Reuters President Barack Obama's Democrats and their Republican rivals were further apart than ever on Tuesday in an impasse over America's debt limit as Wall Street braced for a looming U.S. default and credit downgrade.

One week before a deadline to act, the two sides pursued competing budget plans that appeared to have little chance of winning broad congressional approval. There was no compromise in sight to raise the nation's $14.3 trillion (8.7 trillion pounds) debt ceiling by August 2 to avert a default that could trigger global financial chaos.

"We don't believe we will get there," Carney said of default. "We are pushing this to the last minute, and that should not be in the case, but in the end we believe Congress will act appropriately."

With all the global economic problems around the world the last thing we need is the dollar crashing. The Euro is in tatters, a crash in the US would trigger off the European market. This is really big stuff folks.

Wall Street banks are preparing for the real possibility that the United States will lose its top credit rating, which they say will cost the country $100 billion in additional interest payments and hurt both consumers and the economy.

The stalemate in Washington is already having an effect, with investors starting to take cash out of the market and shifting away from some long-term investments.

With all the wars in the middle east and more to come it seems as though world war 3 may be getting closer and closer. The conspiracy theorist in me is seriously considering the possibility that this crash may have been orchestrated by some entity. If I was to put on my tinfoil hat a little tighter I might even suggest that this could be part of a new world order plan for depopulation.

History seems to show that previous world wars may well have been instigated by shadowy corporate entities with the intents of making money and gaining political power. This greed has raped the planet of resources and polluted our atmosphere. Suppressed technologies that had the capability of helping us to achieve as close to a utopia as possible..

Now it seems as though they may want to reserve the planet for their own selected few. Before other entities get powerful enough to stop them or get there first perhaps?

Reuters

Crash baby crash! It is our only hope to wake the sheeple. We need a big reset and default/repudiation is the way to go. Our only other choice is violent revolution.

If I were a rich man,
Ya ha deedle deedle, bubba bubba deedle deedle dum.
All day long I'd biddy biddy bum.
If I were a wealthy man.
I wouldn't have to work hard.
Ya ha deedle deedle, bubba bubba deedle deedle dum.
If I were a biddy biddy rich,
Yidle-diddle-didle-didle man.

my only hope... a big, giant and beautiful default.

Historically, crashes tend to happen in the autumn, often coinciding with Biblical holy days and/or powerful displays of the forces of nature. Dr Mensur Omerbashich and others seem to think a major earthquake is due to happen around 26 September.

Then there is the Genesis Grid by Peter Woolford, in which he shows a pattern involving financial powers. This pattern seems to point to the night of 29 September (the night after the Day of Trumpets or Rosh Hashanah) with a theme of power and deception.

I think we are heading for rocky times, whether things will go t*ts up in August, September or October. Fasten seatbelts.

reply to post by sonofliberty1776


Trouble is we most probably get violent revolution or war if it does crash. Not good. I think the politicians are playing Russian roulette. It is irresponsible as it will affect the whole world economically not just USA.

reply to post by sonofliberty1776


Don't be so naive and daft. This crash looks set to be worse than the one in the '30s, and who will be the ones suffering the most? That's right, inncocent people like widows and middle class hard working families who wouldn't dream of the kind of violence you seem to be advocating. Or are you one of those rich people who have the luxury of having prepared everything and hang all the weak you so arrogantly call 'sheeple'? Shame on you. People will suffer. That's not something to look forward to or gloat about.

You know.... one of these times, the little boy (our gov) is gonna cry wolf (economic collapse) and it gonna actually happen. I just dont think this is it. Because there is plenty more stuff to scare us into submission with, thats still on the table.
IE: The space issues they are being dodgy about
Harold campings new date
Terrorist threats
increase of natural disasters
And dont forget the big papa of them all ! 2012 !
I feel something bad this way comes, but I think this time its another boogy boogy man tactic.
*sigh* just so tired of all the lies.

ETA ~cegulla~ That site that you linked to is one of the poorest constructed sites I have EVER seen! geez looked around it for 5 minutes and it was all just gobaldee gook.

reply to post by sonofliberty1776


What kind of an attitude is that? IMHO, it is people like you that will cause this situation to become catastrophic. may I ask, do you consider yourself a selfish individual? I won't get into what I think about your level of intelligence or mental prowess. ya know what there o-sons of whatever the hell you are, how bout you and people like you all head for Texas or somewhere similarly whacked and leave the rest of us the **** alone. man, if I could only type what I am really feeling. your post just triggered my I need a cold beer & a shot reflex. bottoms up.............

Look at it this way..if it hopefully does crash, teach us all a lesson for final all, hopefully..some of the elderly and evil investors will have immediate heart attacks, when they see on thier computers at home, thier stocks, wealth everything flatlined ont he screen DOW bar so far below, even the S&P index, it would rival the depths of the deepest known charted ocean , right too the floor

reply to post by ispyed

That is why we all have our bug out bags, and plans for how to deal with situations like that. If it comes to it, there is always the second amendment.

only thing ending is their pyramid scheme, I say we all let it happen with as much smiles as we can, its their dream that is ending not ours, I say its time the people start living the life they dream, instead of the majority on this planet working so a handful of people can have whatever they want

Just wait till they raise the debt ceiling ......Then the really nasty things begin to happen in the form of massive cuts to us all.

There is no winning side after this.

And if the US does default well nothing good will come from it as we are already screwed.

I think they will rise the Debt Ceiling at the last Minute...what they (TPTB) are doing now is just for Profit. Scare the Sheeple #less with the possibility of a Default,so they start to Panic and sell they Shares,bringing the Prices for Stocks down and Invest in PM´s,which raises the Prices.

They (The Insiders) are gonna wait till the last Minute,then buy Stocks for cheap and sell their PM´s,like Gold and Silver,for huge Profits.


Not saying that is what is happening,but the Chance is high that it is.

Here's what needs to happen: war spending over, fire/ lay off all expendable government employees, deliver postal mail five days a week, stop printing extra money, ask banks to repay those bail out loans, tax corporations more, stop spending on unnesscessary items like Michele Obama's vacations, flying government workers around. Get someone who is really good at business to run the government and be president. No more dumb dumbs.

reply to post by Cegullah

My friend, people are going to suffer; they suffer now. People are going to die; they are dying now. Slowly but surely, day by day, TPTB steal our freedoms and our very dignity. The sheeple, yes I call them sheeple because many are currently unable to think for themselves for whatever reason, the sheeple need something to waken them. Soon it will be too late.

I can see whats been planned for a while now, and its right infront of us. The USA has more oil fields than any other country, and now they even have Iraqs, which is somewhere in the top 10. They're going to crash the dollor, completly smeg up the oil supply routes around the world (as the dollor is commonly used with oil trade), wait till oil reaches of the value round $200 a barrel, then bam, create a new currency, and sell their oil to the world in their new currency at that value. Creating a new economic supper power, the new American currency.

Imagin that? New super currency occuring as others die? Whats to say that the Euro gives up and just addopts USA's new currency? And if thats happening, whats to say the rest of the world wont accept it?

This is just a theory of mine i've had for a while, just tie's in too well. (appologies for the spelling errors)

Originally posted by Talltexxxan
I feel something bad this way comes, but I think this time its another boogy boogy man tactic.
*sigh* just so tired of all the lies.

If you look at the current economic situation it is a mathematical certainty that the economy will crash. Its the way the system is built and was foreseen before world war 1 even.

reply to post by Shenon


Thats what i was thinking, past 2 days. at the last concivable minute, obama would look like ahero..its a message, this is why i should be re elected* a scam show*

Originally posted by sonofliberty1776
Crash baby crash! It is our only hope to wake the sheeple. We need a big reset and default/repudiation is the way to go. Our only other choice is violent revolution.

You should take a trip down to Guadalaraja and hang out there with the people living in the streets, children running around naked because they can't afford clothes and houses that have dirt floors and no windows. This "big reset" you hope and dream for would send much of America into just such a scenario. This isn't a question of just wiping the slate clean and starting over, we would forever lose the freedom and liberty we now have and would have to subjugate ourselves to other countries. We'd be ripe for a military takeover, and we have plenty of enemies that would love nothing more than to step into the political vacuum that would be created by our economic collapse. Be careful what you wish for.