05-25-2009, 09:25
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#1
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Quiet Professional
Join Date: Jan 2004
Location: Red State
Posts: 3,774
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We Are Out of Money
No Shit Dick Tracy!!!
Did Zero have a brain fart??
http://drudgereport.com/flashocs.htm
BMT
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Don't mess with old farts...age and treachery will always overcome youth and skill! Bullshit and brilliance only come with age and experience.
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BMT (RIP) is offline
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05-25-2009, 09:38
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#2
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Quiet Professional
Join Date: Jan 2004
Location: Free Pineland
Posts: 24,837
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Well, three years of Democratic control of the purse strings will do that.
Wait and see what the next three bring. My wager is on more spending, and higher taxes.
TR
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"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat." - President Theodore Roosevelt, 1910
De Oppresso Liber 01/20/2025
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The Reaper is offline
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05-25-2009, 09:39
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#3
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Area Commander
Join Date: Feb 2004
Location: The Black Hills of SD
Posts: 5,945
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Yep.
Now watch as our taxes INCREASE exponentially.  
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Sdiver is offline
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05-25-2009, 11:37
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#4
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Area Commander
Join Date: Jun 2008
Location: Occupied Wokeville
Posts: 4,665
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Quote:
Originally Posted by Sdiver
Yep.
Now watch as our taxes INCREASE exponentially. |
Yep. I tend too think there will be more of the clandestine type taxes we have seen with tobacco such as the energy Cap & Trade, soda pop and sweets, Fat Food, etc. And since the FED is basically the owners (Mafia Style) of GM, Chrysler, most finance and soon to be health care they can now reap a much larger percentage of the net profits that previously would have gone to Private Investors and Owners.
Taking from the Rich and giving it to the Federal Government to be peace mealed out to special interest and other devoted investors of the cause
All in the guise of serving the better good..............the Collective Good that is.
Welcome to the New and Improved Amerika Comrade 
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When a man dies, if nothing is written, he is soon forgotten.
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Paslode is offline
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05-25-2009, 11:39
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#5
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Quiet Professional
Join Date: Jan 2004
Location: Phoenix, AZ
Posts: 20,929
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World history or American history of any kind is obviously not mandatory at Harvard.
The "Community Organizer" is about to destroy America with her own greed and stupidity.
“The problem with socialism is that eventually you run out of other people's money.”
Margaret Thatcher
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"The Spartans do not ask how many are the enemy, but where they are."
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Team Sergeant is offline
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05-25-2009, 12:03
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#6
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Quiet Professional
Join Date: Dec 2004
Location: Nashville
Posts: 956
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I have said this before.
This is from anothher post, it's what I see with this "money" problem.
"At this point it appears this is highly likely. I have said and remain firm in the beleif Obama is the #1 Jihadist and true enemy of this country. His plans are not to pull us out of our mess but to increase it and Bankrupt the country to allow for Muslim take over. Does this sound crazy? Yes, but it is what I believe at this point. A True Believer ..."GOD bless America and may we survive this attack on our constitution, Blitzzz"
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The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government.
Thomas Jefferson
To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.
Thomas Jefferson
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Blitzzz (RIP) is offline
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05-25-2009, 13:59
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#7
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Area Commander
Join Date: Jun 2007
Location: San Antonio, Texas
Posts: 2,760
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Out of money? No - we were out of money quite some time ago. The problem we face is that we are running out of credit. This is analogous to the family that drains its savings accounts in order to maintain some lifestyle, then turns to its credit cards. At some point, the limit is reached and fiscal discipline enforced. The decline of the dollar and the upward movement in yields on treasuries suggest we may be approaching that limit.
Nor is the problem limited to Medicare and Medicaid. It also includes Social Security. Even if we suppose reductions in medical costs, the budget problem remains. In addition, cities and states are also in debt. Furthermore, individuals are in debt.
The present effort seeks to keep things going for a few more years as we expand the debt even more. It assumes that ongoing growth of the domestic and global economy will support both the existing debt as well as additions. It does not allow for the possibility of low growth, zero growth, or contraction of the economy. Furthermore, it does not allow for the possibility that interest rates could increase. Should either violation of the underlying assumptions occur, disaster looms. In my opinion, those assumptions will be violated - and soon.
The POTUS dismisses the state deficits rather casually. Yet this ignores the potential consequences of the various states' reduced circumstances. Social instability and increased crime may be possible. As I contemplate California, I cannot help recalling the Watts riots. If Rome ceases to pay the barbarians, will the barbarians sack the city?
I suspect there is a political dimension as well. California may reduce spending for higher education, which could result in the system trimming its student population by 250,000. LINK . This seems to imply sharply reduced expectations for lots of people. Their reactions could cause some interesting (but perhaps unpleasant) political developments.
There is no question in my mind that taxes will go up. In considering the problem, please consider the following:
Argentine President Cristina Kirchner announced this week that her government intends to nationalize the country's private pension system. If Congress approves this property grab, $30 billion in individually held retirement accounts -- think 401(k)s -- managed by private pension funds will become government property.
LINK
When a person or company run out of money, they may well go through bankruptcy. Assets are liquidated in partial satisfaction of debts. Rhetorical question: If a nation faces bankruptcy, what assets will be liquidated?
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nmap is offline
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05-25-2009, 14:08
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#8
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Moderator
Join Date: Feb 2004
Location: Central Florida
Posts: 3,045
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You will be assimilated. Resistance if futile.
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Kyobanim is offline
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05-25-2009, 14:08
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#9
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Quiet Professional
Join Date: Jan 2004
Location: Free Pineland
Posts: 24,837
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You know, Grandpa's idea of keeping his savings in a Mason jar buried behind the barn is seeming like a better and better idea.
TR
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"It is not the critic who counts; not the man who points out how the strong man stumbles, or where the doer of deeds could have done them better. The credit belongs to the man who is actually in the arena, whose face is marred by dust and sweat and blood; who strives valiantly; who errs, who comes short again and again, because there is no effort without error and shortcoming; but who does actually strive to do the deeds; who knows great enthusiasms, the great devotions; who spends himself in a worthy cause; who at the best knows in the end the triumph of high achievement, and who at the worst, if he fails, at least fails while daring greatly, so that his place shall never be with those cold and timid souls who neither know victory nor defeat." - President Theodore Roosevelt, 1910
De Oppresso Liber 01/20/2025
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The Reaper is offline
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05-25-2009, 14:12
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#10
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Quiet Professional
Join Date: Jan 2004
Location: Tampa
Posts: 2,548
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Quote:
Originally Posted by nmap
If a nation faces bankruptcy, what assets will be liquidated?
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The liberties and freedoms of it's citizens for a start.
Add to that personal ambition, prosperity, choice, drive to succeed, and the quality of life of it's future generations.
The piper will be paid - and it's cost to life as we know it in these United States will be dear.
Eagle
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Primum non Nocere
"I have hung out in dangerous places a lot over the years, from combat zones to biker bars, and it is the weak, the unaware, or those looking for it, that usually find trouble.
Ain't no one getting out of this world alive. All you can do is try to have some choice in the way you go. Prepare yourself (and your affairs), and when your number is up, die on your feet fighting rather than on your knees. And make the SOBs pay dearly."
The Reaper-3 Sep 04
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Eagle5US is offline
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05-26-2009, 06:44
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#11
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Guerrilla
Join Date: Nov 2007
Location: Canton, PA
Posts: 230
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Quote:
Originally Posted by The Reaper
You know, Grandpa's idea of keeping his savings in a Mason jar buried behind the barn is seeming like a better and better idea.
TR
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I hope his idea included gold, and not paper... Pretty soon, that paper stuff ain't gonna be worth the "paper" it's printed on.
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"...as far as rights go, I look at them this way. I won't tell you what kind of church to go to, you don't tell me what kind of firearm I can own."
Quote:
Finally, I believe that punishing lawful gun owners by creating new, more onerous laws, and restricting Constitutionally guaranteed rights, when we already don't enforce the tens of thousands of gun laws we have on the books, is like beating your dog because the neighbor's dog shit in your yard.
"The Reaper"
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