30 Responses to US debt default fears grow as UK becomes safest haven for bondholders

  1. Stephen says:

    The world is literally in a big, bottomless sinkhole

    Like

  2. Brian says:

    Gamblers Fair ~ The Great Satanic Casino ( America & world Money Markets )
    Get your $ paper chips now ( with no asset value ) printed with that NWO logo the Pyramid…666

    Remember All That Glitters ~ Is Not Gold…

    Like

  3. Gaur Nitai says:

    Dear Alvin,
    Please watch this. This is a monumental crisis.
    Must watch but highly disturbing…

    http://www.thefutureoffood.com/onlinevideo.html

    I have seen that you have been sharing truth and educating people, and so I kindly request you to also write a poetic snippet (as you always do 🙂 to describe what we are doing to our mother earth. These are all a few reasons why mother nature is going to hit the reset button very soon.
    Thank you very much.

    May God bless all the sincere people of this world.
    Hare Krishna

    Like

  4. Golfdad641 says:

    Roach Says Chinese Officials ‘Appalled’ by Impasse on Raising Debt Ceiling

    I would be watching this very closely…

    http://www.bloomberg.com/news/2011-07-28/roach-says-chinese-officials-appalled-by-impasse-on-raising-debt-ceiling.html

    Like

  5. luisport says:

    We really hope this debt ceiling issue is resolved soon, so that we can get back to focusing full-time on the ACTUAL economic crisis raging out there, which is in Europe.

    Just be aware that it’s happening… today.

    Italy — which should arguably be the world’s #1 sovereign worry, given its size and weakness — is getting smashed.

    The big FTSE MIB index is down about 1.9% today, with yields blowing out. (Bear in mind this comes after a 2.9% drop yesterday). Sans-debt ceiling, this would easily be the biggest economic story in the world.

    Read more: http://www.businessinsider.com/the-italian-smashage-is-getting-worse-2011-7#ixzz1TOnOpV3M

    Like

    • ole says:

      It’s my understanding that both the United States of America and United Kingdom are in worse financial shape than Greece itself.
      But what really tips the “relevance” scale towards the US is the fact that the dollar is the world’s reserve currency, so a US default would have a considerably worse effect on the global economy than a Euro collapse.

      If you were trying to say that the ongoing debate about raising the american debt ceiling is a soap opera and that they’ll find a way to avoid default (for now), then I would tend to agree.
      But people shouldn’t forget that the flames of the european crisis have been fanned by american rating agencies, precisely to take the public’s attention away from the very same issue threatening homeland.

      So in the end, we’re all in this mess together.

      Like

    • J.M says:

      Just because the EU economy is sick and in shambles doesn’t mean US economy is not far behind, in my view these entities are on a race to determine which one will fall first and the hardest. Either way if US falls, the EU will follow suit the very next day. Just look at all the layoffs occurring in the US http://theeconomiccollapseblog.com/archives/layoffs-layoffs-everywhere-you-look-there-are-layoffs

      Like

  6. Brian says:

    Luisport, I think you should redo your sums on world finances…
    America exceeds the European Union and world markets by far
    on population per capita dept and financing of America’s War machine…
    In supporting the American NATO /world drug trade…
    And never forget : You can run but you cannot hide from dept !
    Greed alsways has a way of finding you ~ Ask most any member of the house & senate

    Like

  7. Golfdad641 says:

    Looking for the Like Button, Great Post Luisport

    Like

  8. Golfdad641 says:

    Last Ditch Effort????
    Creditors make offer to Alabama county over debt
    http://news.yahoo.com/creditors-offer-alabama-county-over-debt-142052366.html

    Like

  9. Shawnta says:

    I believe we are being distracted for sure from something coming…

    Like

  10. luisport says:

    NEW YORK (CNNMoney) — The two calamity-avoiding debt ceiling measures under consideration in Congress have something in common.

    House Speaker John Boehner says his bill has $1.2 trillion in discretionary spending cuts over ten years. Senate Majority Leader Harry Reid says his bill has about the same level of such cuts.

    1138Print
    If either bill is adopted, the cuts would easily be some of the biggest in history.

    Here’s the problem: Nobody knows which federal programs are on the chopping block.

    The bills for the most part avoid targeting specific programs for cuts. Instead, they set spending caps that would limit growth over a ten-year period.

    But which hard choices will have to be made? Cuts to social programs? The Food and Drug Administration? Foreign aid?

    Those decisions would be put off until sometime in the future. For now, lawmakers would be agreeing to only a top-line number.

    That leaves everybody in the dark.

    “Because the whole process has been done in back rooms, the public has very little insight, and consequently, no voice in what’s going to be cut,” said Craig Jennings, the director of federal fiscal policy at OMB Watch, a group that monitors federal spending.

    Debt ceiling: Good going, guys
    The cuts — unprecedented in size — could pack a wallop.

    Federal safety net programs could be on the line, said Jennings. “It’s things like food inspections and the National Weather Service.”

    Grassroots groups and Washington lobbyists would normally fight to protect those funds, but the ambiguity has limited organized response.

    “If you don’t put out a certain menu of programs that are going to be reduced, the targets of those cuts will have less time to organize and mount a defense,” Jennings said.

    Spending caps could lead to “some really stupid allocation decisions,” said Norman Ornstein, a resident scholar at the conservative American Enterprise Institute. “You might cut in places where the long-term costs will be greater, and even do some things that endanger public safety.”

    0:00 / 2:57 Debt deal: Goodbye tax hikes for rich
    The lack of details might make it harder for Americans to understand the stakes, but it does make it easier to push the deal through Congress. The ambiguity seems to be part of the strategy — on both sides.

    “They don’t want to put pen to paper on that stuff, and I certainly don’t blame them,” said Bill Frenzel, a guest scholar at the Brookings Institution and a Republican who served 20 years in Congress.

    Press Secretary Jay Carney said as much on Tuesday when questioned by the White House press corps about a lack of detailed disclosures during talks with John Boehner.

    “[W]hen you put forward a position … on difficult issues … it becomes charged politically, and your chances of actually getting an agreement diminish significantly,” Carney said. “That’s how it works.”

    Elected Democrats have thus far been restrained in their criticism of the caps — underscoring the importance of raising the debt ceiling no matter how painful future cuts may be.

    And now it’s way too late for a drawn out fight over spending priorities.

    “It’s no way to govern, but it’s better than the alternative — a default,” Ornstein said.

    http://money.cnn.com/2011/07/27/news/economy/debt_ceiling_spending_cuts/index.htm?iid=Lead

    Like

  11. Rozee says:

    What happens to all of our IOUs that China is holding? Will China get a credit rating change because IOUs’ are worth less than face value or worthless?

    Like

  12. Rozee says:

    Thank you, Alvin, for providing the gift of knowledge. We joined a co-op. Losing my job last March has become a blessing. Am relying less on paper money. Namaste precious friend.

    Like

  13. goodbyemilkyway says:

    Genetic Armageddon:Humanity’s Greatest Threat

    This made me ill and….I don’t even know…

    * I heard of the glowing cats today on the radio*

    Like

  14. luisport says:

    Senate Majority Leader Harry Reid said he will move tonight to kill House Speaker John Boehner’s debt-ceiling plan, paving the way for Senate votes this weekend on a possible compromise to avert a potential U.S. default.

    Republican House leaders expressed optimism their measure would pass today. If it does, Reid, a Nevada Democrat, said he plans to bring Boehner’s legislation immediately to the floor and “it will be defeated” because it would set up another congressional fight over the debt limit within months.

    “No Democrat will vote for a short-term Band-Aid that would put our economy at risk and put the nation back in this untenable situation a few short months from now,” Reid said.

    That would allow Reid to accelerate negotiations among leaders on both sides to raise the nation’s $14.3 trillion debt limit ahead of an Aug. 2 deadline.

    The U.S. Treasury will give priority to making interest payments to holders of government bonds when due if lawmakers fail to raise the debt-ceiling, according to an administration official who requested anonymity because no announcement has been made. The Treasury has said about $90 billion in debt matures on Aug. 4 and more than $30 billion in interest comes due Aug. 15. Overall, more than $500 billion matures in August.

    Boehner, an Ohio Republican, defended his plan, calling it “a sincere, honest effort to end this crisis in a bipartisan way.”

    Votes This Weekend
    The Senate is likely to begin voting this weekend on an alternative proposal from Reid to raise the debt ceiling by the full $2.4 trillion President Barack Obama has requested, while cutting $2.2 trillion over a decade. Senate leaders are working privately to reach a compromise that could clear Congress by Aug. 2, the date the Treasury Department says the nation will breach its borrowing limit and run out of options for avoiding default.

    Senator Chuck Schumer of New York, the third-ranking Democrat, said Republicans should “sit down and negotiate.”

    “Throwing a hot potato over to us that won’t pass just delays things a day, and we are simply four days away from one of the worst financial catastrophes that could face this country,” he said.

    Boehner’s plan would provide an immediate $900 billion debt-ceiling boost, cut $915 billion in spending and tie a future borrowing increase to enactment of a deficit-slashing law late this year.

    Like

  15. August says:

    “The crumbling U.S. Economy is putting an extraordinary amount of financial stress on American families. For many Americans, ‘flat broke’ has become a permanent condition.
    Today, over half of all American families live paycheck to paycheck.
    Unemployment is rampant and those that do actually have jobs are finding that their wages are rising much more slowly than prices are.

    #1 Only 58 % of Americans have a job right now.

    #2 Only 56 % of Americans are currently covered by employer-provided health insurance.

    #3 The median yearly wage in the United States is $ 26,261.

    #4 The average American household is carrying $ 75,600 in debt.

    #5 Only the top 5 % of U.S. households have earned enough additional income to match the rise in housing costs -since 1975.

    #6 At this point, American families are approximately 7.7 trillion Dollars poorer than they were back in early 2007.

    #7 The poorest 50 % of all Americans now own just 2.5 % of all the wealth in the United States.

    #8 According to one study, approximately 21 % of all children in the United States were living below the poverty line in 2010.

    #9 Today, there are more than 44 million Americans on food stamps, and nearly half of them are children.

    #10 According to Newsweek, close to 20 % of all American men between the ages of 25 and 54 do not have a job -at the moment.

    … “

    Like

  16. Stephen says:

    Maybe the US intends to renege on its obligations, even if it costs the nation and the entire world. If the US views CHina as its nemesis, maybe the White House is playing an economic warfare, before the use of force. When bad comes to worse, a declaration of war is inevitable. I was saying in my earlier posts that the US already unveiled its ‘END TIMES’ aircraft. Of course, building such a costly aircraft has a purpose. It can house many people. The trillion-dollar fund by China to US is China’s Achilles heel. This is why China continuously and seriously warning the US to take this matter responsibly, and must not ‘play with fire’. It is a heavy phrase, and it signals the weakness of China because it is now trapped. When financial markets are in turmoil. the only rule by then is violence. Everything is in chaos. And as I have said, the lawmakers and Washington are participating in a play called ‘TRAGEDY’.

    Like

  17. Brian says:

    Hey Alvin, don’t know where to post this as your Excellent related post is long gone…?
    Spent an hour or two researching Comet Elenin again last night @#$%^&*()&!
    Im still not happy about this issue , uneasy should i say ~ im still looking over my shoulder ?
    Ive been flying planes for 28 years from airforce to comercial , been around the world …
    I visit plenty of related space and aironautical sites and im convinced something’s going down ?

    Example :- Why Has The Hubble Site Removed All Elenin Related Information If Elenin ” Is ” Just A Miniscule Little Ice Ball Comet- Theyve never missed tracking a local comet before …?!!

    You know as well as I do that the Devils best weapons are deceit & lies…?

    Like

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