THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

J

Joe Contrarian

2
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

Obama's People Admit He Was Lying About Default

By Matthew Vadum on 7.27.11 @ 3:15AM

President Obama has no intention of allowing the U.S. government to default on its financial obligations regardless of whether the government's borrowing limit is raised, Charlie Gasparino of Fox Business reports.

This means that the president has been bargaining in bad faith with congressional leaders by raising the specter of a default, knowing full well he won't allow it to happen. This is another way of putting it: the president has been lying to the nation.

As Gasparino writes
While officials from the Obama Administration raised their rhetoric over the weekend about the possibility of a debt default if the debt ceiling isn't raised, they privately have been telling top executives at major U.S. banks that such an event won't happen, FOX Business has learned.

In a series of phone calls, administration officials have told bankers that the administration will not allow a default to happen even if the debt cap isn't raised by the August 2 date Treasury Secretary Tim Geithner says the government will run out of money to pay all its bills, including obligations to bond holders. Geithner made the rounds on the Sunday talk shows saying a default is imminent if the debt ceiling isn't raised, and President Obama issued a similar warning during a Friday press conference after budget negotiations with House Republicans broke down.
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It's business as usual for Obama. The truth is just an obstacle on the road to socialist utopia.

Rules for Radicals author Saul Alinsky would be so proud.

The American Spectator : AmSpecBlog : Obama's People Admit He Was Lying About Default
 
eberetta1

eberetta1

EOG Addicted
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

If it says Republican incumbent, just do not put a check mark there on the ballot, and go one better, if it says Democrat incumbent, skip checking that box also. Send all the incumbents back home.

The Republicans are the liars Contrarian. The law says our debt obligations should not be questioned. Why are Republicans holding the debt hostage... that's right to cut taxes on the rich to generate jobs, the taxes were cut in half but no jobs growth occurred. Instead the rich let it sit idle. The lie has clearly been revealed.
 
M

markinsac

EOG Dedicated
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

The Republicans are playing with people's futures here. Everybody hates them!
 
J

Joe Contrarian

2
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

Urgent message to the Tea Party Freshmen and fiscal conservatives: HOLD THE LINE!
<small>
July 28, 2011 | Jim Robinson </small>
<small>
Posted on Thursday, July 28, 2011 7:06:09 PM by Jim Robinson</small>
<small>
Edited on Thursday, July 28, 2011 8:06:23 PM by Jim Robinson. [history] </small>

HOLD THE LINE!!

They'll have to come back to you. DEMAND a REAL CUT in spending!! Do not under any circumstance approve a debt ceiling increase!! Instead, insist on real spending cuts NOW!! The country is bankrupt. Do not allow them to take us deeper into debt! It's time for the HOUSE to do its job of controlling the spending!

The federal government is bankrupt due to Obama's reckless spending.

Cut up his credit cards and force him to quit spending! It's time to put Obama and company into receivership! Make them come to the House to authorize current payments on the debts as they come due so that we don't default. Do not authorize any spending whatsoever on discretionary items until the spending crisis is solved. Pay the obligated social security checks, the military, the interest and the required debt payments, but that's just about it until our fiscal house is in order!

Make no bones about it. We sent you to Washington for one reason and one reason only and that is to take control of our big spending, big taxing problems and get our economy going again so our our people can get back to work!! Do not let the DC ruling class sway you. Do not take your eye off the ball. Do not fail to do your job! Our nation's survival depends upon your vote!!

Tell Boehner to get HIS ass in line!! Cut the damned spending, already!!

Reinforcements are coming in 2012!!

Rebellion is brewing!!

DON'T TREAD ON ME!!
 
J

Joe Contrarian

2
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

Ron Paul: "Default Is Coming"

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Rep. Ron Paul (R-TX) explains why default by inflation is worse than default by not raising the debt ceiling.

Rep. Paul also talks about how the devaluing of the U.S. has led to record prices in gold bullion.

"Default is coming. The only argument that's going on now is how to default, not send the checks out or just print the money. In all countries our size, they always print the money," Paul said.

"They're going to raise the debt limit, and then they're going to print the money, and then they'll default by inflation, and that's much more dangerous than facing up to the facts of what's happening today."

http://www.realclearpolitics.com/video/2011/07/28/ron_paul_default_is_coming.html
 
T

tblaze

EOG Addicted
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

the market is taking a bath because of this bs....created by both parties

i got a good idea actually...raise the cap so we can spend more...invest, bump and dump fellas
 
J

Joe Contrarian

2
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

Default!

Shut 'er down!

Plug the spigot!

Tear up the credit card, and put these infantile progressives in their rooms without supper.

It ain't rocket science:

AMERICA IS BROKE! STOP SPENDING!
 
J

Joe Contrarian

2
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

The Commie Kenyan's Leadership Failure:

<iframe width="560" height="349" src="http://www.youtube.com/embed/z5kIdN3UEQo" frameborder="0" allowfullscreen></iframe>
 
scrimmage

scrimmage

What you contemplate you imitate
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

markinsac said:
The Republicans are playing with people's futures here. Everybody hates them!
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Joe Contrarian said:
Default!

Shut 'er down!

Plug the spigot!

Tear up the credit card, and put these infantile progressives in their rooms without supper.

It ain't rocket science:

AMERICA IS BROKE! STOP SPENDING!
Click to expand...

Ideologies are prefabricated boxes. They come with a ready-made self-referential internal logic: B follows from A because I believe in A. Facts are "cherry-picked" to support the internal logic, but the truly key component in any ideology, Left, Right or Libertarian, is magical thinking, i.e. wishful thinking.

I can illustrate this very simply.
The basic assumption of any ideology or "ideological "debate" (quotes explained in a moment) is that all problems would be resolved if only the "other side" came round to your conviction.

So let's follow that through: if all Republicans suddenly agreed with Paul Krugman and Robert Reich, would Peak Everything be resolved? Would the U.S.A.'s dependence on exponentially rising debt and imported oceans of oil magically go away? Would the consequences of The End of Work vanish? Would the consequences of 72 million (or 79 million counting legal immigrants) Baby Boomers retiring, fully 25% of the entire population, magically disappear?

Now repeat the question for the flip-side of the coin:
if Democrats suddenly saw the light about free markets, low taxes, etc., and became die-hard Republicans, would any of these structural problems suddenly go away? No.
Though each ideology claims to have the "answers," the "answers" are all magical thinking: if only the wealthy would pay more taxes, if only taxes were lowered, if only those SUV drivers would buy a Prius, if only we cut Pentagon spending, etc. etc. etc. All of these ideology-generated "solutions" are just tweaking the parameters of internally doomed systems.

Read more at:
charles hugh smith-Random Reflections About This Blog/Site
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J

Joe Contrarian

2
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

"I am for a government rigorously frugal and simple, applying all the possible savings of the public revenue to the discharge of the national debt; and not for a multiplication of officers and salaries merely to make partisans, and for increasing by every device the public debt on the principle of its being a public blessing."
--Thomas Jefferson to Elbridge Gerry, 1799. ME 10:77

"I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing."
-- Thomas Jefferson

 
scrimmage

scrimmage

What you contemplate you imitate
Re: THE END OF THE REPUBLICAN PARTY AS WE KNOW IT . . .

1.Peak oil tends to cause peak debt. Some will argue with me about this, because they believe it is possible to decouple economic growth from energy growth, and in particular oil growth. As far as I am concerned, though, this decoupling is simply an unproven hypothesis–the normal connection is that a flattening or decline in energy supply causes a slowdown or actual decline in economic growth, and this slowdown causes a shift from an increase in the amount of debt, to a decrease in the amount of debt, as it did for US non-governmental loans in 2009 and 2010.

Governments try to step in and keep the growth rate in debt up, but the gap is too great for them to make up. This tendency of governments to take on new debt (together with problems related to the original slowdown in economic growth) are reasons many governments have been getting into financial difficulty recently, in my view.

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2.Once debt growth peaks (shifts from growth to decline), we can expect a feed-back loop that will tend to make the peak oil decline even worse than it would otherwise be.​

Read more at:
The Oil Drum | The Link Between Peak Oil and Peak Debt
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The realization most Americans are frantically trying to stave off just now is that nature has called our bluff. That limitless new supply of energy most of us were waiting for hasn’t appeared, and there are good reasons, founded in the laws of physics, to think that it never will. In the meantime, our decision to double down has left us burdened with, among other things, a public school system and a collection of colleges and universities even more gargantuan and unaffordable than the ones we had before we doubled down, and a psychology of previous investment that all but guarantees that our society will keep on throwing good money after bad until there’s nothing left to throw. Politicians and ordinary people alike have taken to insisting, along these lines, that the solution to joblessness is to send people to college to get job training, on the assumption that this will somehow make jobs appear for them. To call this magical thinking is an insult to honest sorcerers, but it’s likely to be increasingly common in the years to come—at least until the bottom drops out completely.

Read more at:
The Archdruid Report: Salvaging Learning
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