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U.S. government publicly discusses the once ‘unthinkable’ idea of a financial default
This entry was posted in Civilizations unraveling, Dark Ages, Earth Changes, Earth Watch, Economic upheaval, social unrest, terrorism. Bookmark the permalink.
Bloodsuckers……
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On August 2nd, do you mean to tell me that they will cut off our social security. That’s my only money to pay bills,ect. And when it comes back, after debt default, then what? Can ANYBODY tell me the truth. Will my SS payments really stop in August. I can’t get it. I don’t know what to do. Maybe this is a time to contemplate leaving the earth in a bad way. It’s sad, it’s all i have. All my hopes and my dreams have faded. I knew they would do this to us. There’s NO way anyone can do anything. But about the Aug. 2nd debt. What if it does not happen. Will they just cut SS? Will they take it away. What are the true changes of them going into a debt default! Please educate me so I can stop crying. Will it happen. Will they make a deal and if so, why not tax the rich, and go other ways to stop it. HELP!
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To FamilyBlackSheep,
I don’t think benefits would get cut off….. at least, not right away.
The last time the Gov’t was “shut down” during the Clinton era, I don’t recall reading about people not getting their SS benefits.
But then, the whole Federal Gov’t didn’t go into default at that time, either.
I *think* that a default will be avoided….. *This* time.
Even if a default is avoided this summer, the problem is…. now that some members of the Republican party have found this as a way to ‘game’ the system, and to control the President, they will take advantage of this neat new ‘weapon’.
I expect that this will be an Annual showdown / occurrence from now on.
Eventually, their insistence upon playing with matches and gasoline, will cause it to blow up in their face…. and everyone else’s, too. 😦
– Nick
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It’s very difficult to not be upset with our US government. Before even talking about increasing taxes, I think they should be accountable (via audit) for the money they have already taken from taxpayers and borrowed from others. WHERE’S THE MONEY??????????
When they cannot account for TRILLIONS, they need to be held accountable. I know us taxpayers are. For the life of me I do not see how that much money could have been spent in such a relatively short time unless someone’s pockets are being lined.
Well, there’s my rant for now.
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How about the nine trillion we gave to the CEO vaction fund? The banking and wall street cartel can buy new yachts and vacations (but we need higher taxes).Can’t we have them sell a summer house or two and loan it back to us at fifty percent interest? Oh wait, we can’t ask the rich to pay their own bills (thats what we the people are for). So next time you see a wall street/banker/rothschild hand him your social security check, and thank him for your soon to come eighty percent food and fuel increase.
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I CAN’T WAIT for a default !!
I mean, I really really can’t !! 😐
For once, Americans will be *forced* to live within their means !! No more National Weather Service, funding for stooopid national parks, or monument tours… Not to mention some other ‘essential’ services.
No more Tax Refunds. Maybe they’ll even be suspending Social Security payments for a while !!
This ^ may not be a bad thing. The Challenges and Desparation will bring out the resourceful side of some Americans, like we haven’t seen in years !!
Hopefully, I won’t get robbed by some starving elderly folk, after their Social Security benefits go on vacation for a while, and their Dividend returns from their stock holdings go away, in the Wally Street nosedive that will follow. If they were too lazy to save enough money for retirement, then they should suffer !!
I’m also waiting to see how this affects the States, as well as the Federal gov’t.
My own home state of IL. is going broke – I wonder how the lack of any Federal funding from D.C. is going to affect services here, and in other states.
Maybe we’ll have to sell our homes, because we won’t be able to afford the property or local taxes anymore. But, it’s not like we can afford to keep our homes, anyways. We will have to start living within our means, even if a cardboard box is all one can afford.
Not to mention, I’m sure this will trickle down to local and state services as well. No more money for snowplows in winter, or for road repairs….. Streetlights can also be shut down, to save electricity.
Maybe the Post Office will have to be Privatized. <- No more Junk Mail, since it will not be 'cost-effective' anymore !!!
We can go back to the 1930's, when life was simpler, and we didn't rely so much on modern Technology.
We just can't afford it !!
– Nick
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Hi NickKo,
Very well said. I just love your idea. And I totally agree with you.
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As much as i know and agree with what you are saying i think that going back to the 30’s is not what will happen. Tear gas and police state will be the future not the 30’s careful what you wish for.
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Sosume, you’ve said it in a nutshell. Look at the future we’ve left for our children, childrens children and ondeep into the future. It makes me sad and angry at the same time when so many raised their voices to warn the population of what was happening, only to be made fun of and shamed for their watchfullness.
I wish you and yours safehaven in the coming years.
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Ditto
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I am under the impression that if we default not only will interest rates rise and the alleged ecomomic recovery will stall but we could also face hyper-inflation on all goods sold? That could mean a loaf of bread or a gallon of milk could cost three times what it does now?
I wonder what exactly will happen?
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This is like watching the movie after reading the book!
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Disgusting greedy fools! It is sickening to watch these puppets perform. It is time for the people of this country to demand better from our elected officals. We work way to hard and pay them way to much for this nonsense.
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Yes – we can only “avoid” the problem for so long. They are just stalling- delaying the enevitable. They could be stalling for a reason – what are they preparing for? This cerainly looks to me like the proberbial primrose path. The for a look at the impending cliff, just look at the graphs of oil extraction, the industrial revolution, the growth population, and so on. The higher the rise, the sharper the fall. Hang on to the Light and each other– this ride is about to get very scary.
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When the “end” comes, none of this will matter anyway.
Blessings to all.
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It’s like watching the Great Rome empire collapse. America overextended itself and is collapsing. We are indeed in end times.
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http://latimesblogs.latimes.com/lanow/2011/06/new-state-of-south-california.html
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Sorry, but the US will never default because they have a steady income from taxes. Even though there’s a deficit the debts will ALWAYS be paid with revenue from taxes. There’ll just be no money for entitlement programs like Medicare, Social Security and Pensions. They’ll always be enough money to pay the debts and the defence budget. Everything else can and will be sacrificed. The talk of a default is a smokescreen. Hopefully when the US government gives its citizens NOTHING and spends everything on debt and bombs the populace will wake up.
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One scare like this and we default. walstreet will make sure of it you speak of things as if all else stays the same and it wont. if this happens the dollar will be trash. wall street controls your money not the gvmt.
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this is by far the best thing i’ve read in ages, i split my ribs laughing at the truth of this 🙂
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Sigh, people assume that social security and medicare “take the place of” family support for elders – No – My dad (who died a year ago) was fortunate because I was there for him, but I’m not married, have no children, and if social security and medicare fail (and I’ve paid into them for 40 years or more), then does that mean I have to live under a bridge without any medical care? The problem (as I see it) is that people are looking for a black and white answer (which doesn’t affect their pocketbook) – IMHO, this would not be the way Christ would look at it. Yes, we all have to be responsible for ourselves, as best as possible. But – at what point do we say “I am not my brother’s keeper” (old testament) to supporting our brethern (new testament) –
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It’s time to pay the piper! We, the American people are to blame for this. We continue to put unqualified, dishonest and GREEDY people into office because they are nice looking or they are charismatic, or they promise to give us “things” or they promise “change,” We can blame the politicians all we want, but for being what? Politicians???!!! The true statesmen died with our forefathers and we have been dying a slow death ever since. We are a selfish, self-centered, apathetic and arrogant people. AND to top it off, we have kicked God out of our country, the most blessed nation on the earth, and we can’t figure out where we went wrong. We have squandered the blessings bestowed on us and now it’s time to pay the piper. God will not come to our rescue this time. We are going to turn into a third world country and anarchy will rule. Believers, it’s past time to get on your knees and pray that God will protect His own because we are going to need His protection now. I am a watchman on the wall and judgment is at hand.
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GOSH, I was thinking the same thing as you are. God is going to allow a lot in regards to this. I don’t know what I am going to do without my social security payments. I will surely end up on skid row somewhere. It’s sad, but you are so right. I pray everyday, I feel god is waning, he is fed up. Too much for him, he’s god, he is the saddest. I feel like maybe this is the end. I’ve been thinking about it for months. I may just check myself.
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What people don’t realize is that…unless the UST can roll its debt not on a monthly but now weekly basis in greater and greater amounts, the interest rate doesn’t matter. All it takes is one semi-failed auction and it’s game over as hundreds of billions in bills become payable.” Enter the always forgotten maturing debt argument. And as a just released presentation by the Bipartisan Policy Center titled “Debt Limit Analysis” reminds us, aside from the actual deficit funding math, which is that in August there is a $134.3 billion cash shortfall that has to be funded with debt, there is a far greater risk. Or, put numerically, 467.4 billion risks. This is the amount of debt that matures through August 31, and has to be rolled over or the US is bankrupt… in every sense of the word. Once again, America’s politicians and media get broadsided by the definition of gross versus net. Because, in reality, the inability to issue more debt post August 3 means a halt to all new debt issuance. Which, unfortunately because it means Geithner’s scaremongering is actually correct, would imply the end for the debt ponzi.
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Well stated Chris…
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“Behind the ostensible government sits enthroned an invisible government owing no allegiance and acknowledging no responsibility to the people.”
— Theodore Roosevelt (April 19, 1906) (Theodore Roosevelt: An Autobiography, 1913, p. 594)
“T]here is a power somewhere so organized, so subtle, so watchful, so interlocked, so pervasive that they better not speak above their breath when they speak in condemnation of it.”
— Woodrow Wilson (The New Freedom, Woodrow Wilson, 1921, p. 14)
The real rulers in Washington are invisible and exercise power from behind the scenes.”
— U.S. Supreme Court Justice Felix Frankfurter (1939-1962) (The Fraud of The Fraud: Have You Been Taken For A Ride?, Jose M. Paulino, 2008, p. 40)
http://www.disinfo.com/tag/one-world-government/
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This video claims the military and FEMA are on the move in the US. Maybe they are preparing for the riots and unrest that would surely follow any economic collapse;
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Minnesota state FAILED to reach a compromise on budget…
St. Paul, Minn. —
The blind are losing reading services. A help line for the elderly has gone silent. And poor families are scrambling after the state stopped child care subsidies.
Hours after a political impasse forced a widespread government shutdown, Minnesota’s most vulnerable residents and about 22,000 laid-off state employees began feeling the effects on Friday. With no immediate end in sight to a dispute over taxes and spending, political leaders spent the day blaming each other for their failure to pass a budget that solves the state’s $5 billion deficit.
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/07/01/MN0G1K5H4A.DTL
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OFF TOPIC URGENT!!! BILLINGS, Mont., Jul 02, 2011 (BUSINESS WIRE) — ExxonMobil Pipeline Company issued the following statement concerning a crude release into the Yellowstone River in Montana:
“Early on the morning of July 2, we discovered an undetermined amount of crude oil was released into the Yellowstone River from an ExxonMobil Pipeline Company (EMPCo) pipeline. EMPCo deeply regrets this release and is working hard with local emergency authorities to mitigate the impacts of this release on the surrounding communities and to the environment.
The release originated from a 12″ crude pipeline operated by EMPCo that runs from Silver Tip, MT to Billings, MT. The pipeline has been shutdown and the segment where the release occurred has been isolated. All appropriate state and federal authorities have been alerted.
At this early stage, we have no information on the cause of the incident, and we are working to determine the amount of oil released. ExxonMobil has activated its North American Regional Response Team to assist in the clean up efforts. A claims number 1-888-382-0043 has also been established to assist individuals who might have been impacted by this event.
We recognize the seriousness of this incident and are working hard to address it. Our principal focus is on protecting the safety and health of the public and our employees. We will, of course, also begin a thorough investigation of the cause of this unfortunate event. We will provide additional information as it becomes available.”
2:30pAP: Oil spill prompts evacuations in Montana
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Officials in Yellowstone County say a break in an Exxon oil pipeline early Saturday morning in the Billings area caused an unknown amount of oil to leak into the Yellowstone River prompting temporary evacuations for about a 15 mile stretch of the waterway in south-central Montana. Yellowstone County Disaster and Emergency Services Director Duane Winslow says the leak has been stopped and that the oil slick is moving downstream. Officials did not say what caused the leak reported at about 2 a.m. or give an estimate on how much oil leaked. Yellowstone County Commissioner Bill Kennedy tells the Billings Gazette that the city’s water treatment plant has not been damaged. Exxon officials say a response team is being sent to Billings. http://hisz.rsoe.hu/alertmap/woalert_read.php?edis=ED-20110702-31383-USA
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In my work I see many people who are living off others under the guise of disability. Elsewhere, we see gross, gross fraud in the administration of entitlement programs, like medicare and especially medicaid. But to blame Social Security, the promise to the people for their working years, and to steal what is their’s for other purpose, government and politician salaries and bennies, for example, will throw us into a third world situation rapidly. What I do not hearing anyone address is the massive, massive dollars going for defense, and items we call defense but are nothing more than cushions for warmongers. Think of what it costs to fund Area 51, for example, and wars around the world today. Take care of our elderly and our truly medicare people who already paid into it, but cut fraud and defense adn we’ll have more than enough to stay out of debt, and still defend ourselves.
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I don’t care if people like it or not. All fiat currencies die an ugly death. The travesty in history is that they don’t take central banks down into the Pit, with them. It just proves my point. Some injustices are not resolved in this world. We are one day closer to that final resolution.
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Goodbye America as a global super power, or will the ruling classes offer you a new currency once the dollar is collapsed?
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I wouldn’t worry too much about countries with massive debt as the governments know they will never have to pay it back its all about theatrics , conning populations and keeping the peace for as long as they need to. The world Governments already have their underground cities organised and prepared. They have the Svaalsbard seed vault and their knowledge of what is coming that we the general populations have little idea of. We the foodeaters, the serfs that work and pay taxes are not important in their scheme of things. They care not about us! But they forget there is a God and his retribution will be swift and fair.
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