[QUOTE=Dalndox;31445253]It's more useful to the other countries to have us continue to rely on them. If they suddenly demand their money, both of us get fucked because they don't get it, we can't pay it, and our economy shits on itself and takes a portion of the world's economy with it.[/QUOTE]
Yeah but refusing to kick up a new cap, countries that have money with us aren't going to bother to place money in the US.
I don't know why, but this whole situation make me think my life will go from this
[img]http://imganuncios.mitula.net/suburb_home_93819867878583858.jpg[/img]
to this
[img]http://argenteditions.com/images/large/fsa/fsa-dust-bowl-farm-32396-700.jpg[/img]
[QUOTE=Dippeggs;31445370]I don't know why, but this whole situation make me think my life will go from this
[img]http://imganuncios.mitula.net/suburb_home_93819867878583858.jpg[/img]
to this
[img]http://argenteditions.com/images/large/fsa/fsa-dust-bowl-farm-32396-700.jpg[/img][/QUOTE]
I'm feeling the same way as well. At this rate we may hit dustbowl in california bad.
[QUOTE=CabooseRvB;31445294]Yeah but refusing to kick up a new cap, countries that have money with us aren't going to bother to place money in the US.[/QUOTE]
Yeah, that seems to be the problem. If the congressional manchildren would just shut the fuck up and do what's right, we could avoid this.
[QUOTE=Dippeggs;31445370]I don't know why, but this whole situation make me think my life will go from this
[img]http://imganuncios.mitula.net/suburb_home_93819867878583858.jpg[/img]
to this
[img]http://argenteditions.com/images/large/fsa/fsa-dust-bowl-farm-32396-700.jpg[/img][/QUOTE]
We interrupt this program to bring you, COURAGE THE COWARDLY DOG SHOW.
Im sorry.
[QUOTE=Yukinari;31445491]We interrupt this program to bring you, COURAGE THE COWARDLY DOG SHOW.
Im sorry.[/QUOTE]
No it was funny, I didn't even notice it looked like the house.
[QUOTE=Yukinari;31445491]We interrupt this program to bring you, COURAGE THE COWARDLY DOG SHOW.
Im sorry.[/QUOTE]
That was just in bad taste. Try again.
[QUOTE=Pepin;31444943]I think the compromise should be a balanced budget amendment.[/QUOTE]
They're an acceptable idea unless you're currently at war and can't boost tax revenue to fund potential crises. We are and the GOP won't hear of it, so that's out of the question for now.
Good idea, wrong time to try implementing it.
[QUOTE=Megafanx13;31444446]However, I probably won't be happy with what the deal turns out to be.[/QUOTE]
Well yeah, because, let's face it, the Dems are slightly cowardly and wouldn't be willing to play hard and say outright "we have to increase taxes to some extent, period", even though that's what ought to happen.
Right now we've got two ugly old guys who spent out the ass in Bush's congress telling us Obama's at fault for their tab. The "if there was a just God" outcome is the reasonable half of this nation collectively saying "no, you pathetic short-hitters, now pick up your fucking check."
[img]http://img808.imageshack.us/img808/4964/lifel.jpg[/img]
Shitty meme or not, how I'm feeling :v:
Rate me dumb for this, what "default" means?
[QUOTE=Wnd;31445986]Rate me dumb for this, what "default" means?[/QUOTE]
You forfeit all current loans you have. Along with your interests.
Your credit rating drops.
[QUOTE=Wnd;31445986]Rate me dumb for this, what "default" means?[/QUOTE]
It means we will be unable to pay the interest on our debt.
alright I heard about some good news what is it though
[QUOTE=Sift;31445795]
Shitty meme or not, how I'm feeling :v:[/QUOTE]
Stu balances the US budget at 4am?
[QUOTE=RichardCQ;31446180]Stu balances the US budget at 4am?[/QUOTE]
Most likely while depressed.
[QUOTE=salty peanut v2;31446054]alright I heard about some good news what is it though[/QUOTE]
A little progress towards compromise.
The plan will probably suck, but, as others have said, it's better than the alternative.
Sorry for asking this because I have not really been paying attention about this untill now.. But could someone tl;dr me on what would happen if US was forced to Default?
[QUOTE=Zoook;31446222]A little progress towards compromise.
The plan will probably suck, but, as others have said, it's better than the alternative.[/QUOTE]
Unfortunate as it may be, yes.
[editline]31st July 2011[/editline]
[QUOTE=ejonkou;31446256]Sorry for asking this because I have not really been paying attention about this untill now.. But could someone tl;dr me on what would happen if US was forced to Default?[/QUOTE]
For god's sake, I put it in the OP. Did you even read the OP?
[QUOTE=Pepin;31444943]I think the compromise should be a balanced budget amendment. It would take a while to get ratified, but in the long run it would prevent issues like this.[/QUOTE]
A balanced budget amendment would be pretty retarded.
There has to be a time when the government can spend more than it takes in. If not we'll have a depression anyway.
And if Republicans will never allow taxes to be raised and only lowered it's going to be pretty fucking hard to balance a budget.
"Well um we made $0 this year, guess we can't pay for Medicare anymore. Oh well." Thank you Republicans.
[editline]31st July 2011[/editline]
The US is pretty much fucked regardless of the bill passing. The only difference it will make is whether or not its going to fuck with my future when I leave this shit hole.
[QUOTE=ejonkou;31446256]Sorry for asking this because I have not really been paying attention about this untill now.. But could someone tl;dr me on what would happen if US was forced to Default?[/QUOTE]
Not to be a dick, I don't expect anyone to read through the thread I know I wouldn't, but this or "can someone summarize this whole thing?" is literally asked three times a page.
It's bad. If we default, we're fucked.
[QUOTE=SwissArmyKnife;31446453]Not to be a dick, I don't expect anyone to read through the thread I know I wouldn't, but this or "can someone summarize this whole thing?" is literally asked three times a page.
It's bad. If we default, we're fucked.[/QUOTE]
Fucked in which aspect though?
It's not really our fault that your politics are so fucking unnecessarily complex.
nevermind read the op
[QUOTE=SwissArmyKnife;31446453]Not to be a dick, I don't expect anyone to read through the thread I know I wouldn't, but this or "can someone summarize this whole thing?" is literally asked three times a page.
It's bad. If we default, we're fucked.[/QUOTE]
I know it's asked so much, that's exactly why I put a summary on the FIRST POST.
[QUOTE=SwissArmyKnife;31446453]Not to be a dick, I don't expect anyone to read through the thread I know I wouldn't, but this or "can someone summarize this whole thing?" is literally asked three times a page.
It's bad. If we default, we're fucked.[/QUOTE]
Yeah. I just saw 17 Pages and just jumped to the last one really.
legalize ganja?
how the hell do so many people literally think there will be a collapse of civilization
all the "guys i'm seriously buying a gun and stocking up on disaster-supplies" is weirding me out
[QUOTE=Dr_Funk;31446956]how the hell do so many people literally think there will be a collapse of civilization
all the "guys i'm seriously buying a gun and stocking up on disaster-supplies" is weirding me out[/QUOTE]
remember what happened to the Roman Empire back in the day?
[QUOTE=Bat-shit;31446969]remember what happened to the Roman Empire back in the day?[/QUOTE]
i wasn't aware the US of A was under attack by barbarian hordes
mexicans don't count
how to collect US debt:
step 1: demand repayment and impose sanctions until payment
step 2: sit back while global economic system collapses
[editline]31st July 2011[/editline]
FDI and the stock markets will take a hit, but you don't kill the guy who owes you money, or burn down his one source of income. (simplified analogy but who cares)
[editline]31st July 2011[/editline]
public servants will be fucked over and so on, but it's not 2012 mayan apocalypse stuff
[QUOTE=Megafanx13;31441950]Most Tea Party people aren't open to that kind of discussion. They've made it clear in the House that they're unwilling to budge on anything.[/QUOTE]
That's not everyone though. And the Tea Party doesn't represent the Republican party as a whole.
[quote]All they want is Obama out of office and to ban/kill/arrest all gays and anything homosexual, as well as ban evolution and put creationism in every school. [/quote]
That's not all of the Republican party, and it's still important to understand why Tea Party members feel that way anyway. Not to say that the Tea Party is a reasonable group of people, but at least understanding their background and the factors that weigh in those opinions help opponents create arguments against those ideas.
[QUOTE=Bat-shit;31446969]remember what happened to the Roman Empire back in the day?[/QUOTE]
The Roman Empire declined slowly and painfully over the course of a few centuries. It was a mainly militaristic machine that survived by continual expansion, feeding slaves, wealth and new technologies back to Rome. In the 2nd century it was the most powerful empire on earth yet was beginning to decline. It's conquests slowed to a stop and the rich within its borders grew fat and decadent. Rome began to live off its stored capital, mainly spending wealth on luxuries from the far east or on the military. Agriculture was being increasingly ran in larger and larger agricultural estates. The Nerva-Antoine dynasty managed to keep things going ok till Commodus came along. Due to much work being done by unpaid slaves and the agricultural estates being essentially self-sufficient there was very little in the way of capital flowing around and many (free) unemployed poor people survived off the state by being given free bread and entertainment so as to keep them happy.
However Romes coffers gradually emptied and tax rates began to rise to pay for the military to keep away barbarian tribes, then they even began to hire these barbarians as mercenaries to do their work. Much later Rome did not pay these mercenaries adequately and so they began to simply wrest the wealth themselves through theft and looting. When its own army became restless the invading tribes poured in the empire and troops were forced to abandon some areas to protect others. Chunks of the empire began to be lost and from that point on it was a case of complete collaspe as the empire was divided up and broken apart. The barbarian kings that arrived set up new kingdoms, many people had fled the cities to the countryside and the large agricultural estates (Some being replaced with barbarian rulers) began to protect the people within in return for work or military service. When these estates began to join in alliances to protect each other and submit to higher ones the feudal system eventually formed and the next era began. Life however for the average agricultural slave on such a estate changed little in the course of a thousand years.
I however think that it would have been averted had slavery been outlawed on practical grounds. If slavery did not exist then the agricultural estates would be forced to pay their workers wages, and capital would begin to move around. Due to this there would be increased competition in order to secure more wealth and thus more innovation. For example why build a watermill if you own slaves to do it? With this the empire would continue to innovate and stay relatively wealthy, and as long as they had capable rulers they would have done well. Had this been kept up for a few centuries we would have probably entered the industrial revolution in the late middle ages. Especially since steam power, rapid fire ballistics, steel, large ,mechanical machinery and a vast road network along with mass literacy was already around. (With some not very well exploited)
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