Debt Ceiling

[billfred]

So I was watching my usual news this morning and they had Dick Gephardt on there - you old timers will know who he is.

He stated that there is actually a law that he got passed that the debt ceiling has to automatically be raised to cover the budget deficit when the budget for each year is passed.

That is why congress has not passed a budget in the last few years. Really - these are the people leading our country??

 

[pin]

So I was watching my usual news this morning and they had Dick Gephardt on there - you old timers will know who he is.

He stated that there is actually a law that he got passed that the debt ceiling has to automatically be raised to cover the budget deficit when the budget for each year is passed.

That is why congress has not passed a budget in the last few years. Really - these are the people leading our country??

Its unbelievable. Either all 535 members of congress are complete incompetent retards, or they are for whatever reason purposely tying to tank this country. Unless anyone else has a better idea why they do what they do.

 

[PICK3]

My stacks are dwindling

 

[ceo]

why is the dollar still so strong after printing and circulating so many more trillions?

why is the dow over 13,000?

 

[pin]

why is the dollar still so strong after printing and circulating so many more trillions?

why is the dow over 13,000?

 

[mrplunkey]

why is the dollar still so strong after printing and circulating so many more trillions?

why is the dow over 13,000?

The dollar's strength blows my mind. I truly don't understand that one, unless it's because the Euro, Yen, etc. etc. just suck even more. Maybe we're the tallest dwarf at the picnic.

The dow I understand. Those companies are globally diversified on both the sourcing and selling side. Plus, when the dollar tanks those guys will just raise prices. And those prices will rise faster than wages do, which will be Barry's true gift to the middle class -- at massive tax just for them in the form of inflation.

 

[billfred]

The dollar's strength blows my mind. I truly don't understand that one, unless it's because the Euro, Yen, etc. etc. just suck even more. Maybe we're the tallest dwarf at the picnic.

The dow I understand. Those companies are globally diversified on both the sourcing and selling side. Plus, when the dollar tanks those guys will just raise prices. And those prices will rise faster than wages do, which will be Barry's true gift to the middle class -- at massive tax just for them in the form of inflation.

or, when the dollar tanks, those guys earning in foreign sales or world commodities (oil) will just become more in dollar terms driving those stock prices higher.

 

[miplank]

who cares

 

[ceo]

The dollar's strength blows my mind. I truly don't understand that one, unless it's because the Euro, Yen, etc. etc. just suck even more. Maybe we're the tallest dwarf at the picnic.

The dow I understand. Those companies are globally diversified on both the sourcing and selling side. Plus, when the dollar tanks those guys will just raise prices. And those prices will rise faster than wages do, which will be Barry's true gift to the middle class -- at massive tax just for them in the form of inflation.

You really think the dollar will tank?

What happened 80 years ago again?

 

[javaguru]

You really think the dollar will tank?

What happened 80 years ago again?

1. We're the skinniest kid at fat camp.

2. It's the reserve currency in a fiat world.

However, at some point the fed has to relax policy which means interest rates will rise to pre 9/11 levels and interest will consume 80% of revenue or we become Weimer Germany. Either outcome leads to civil unrest unless some major technological development combined with government relaxation of regulation and entitlements allows 7%+ real GDP growth.

 

[pin]

Aliens are going to come and save us...

 

[mrplunkey]

You really think the dollar will tank?

What happened 80 years ago again?

I think it will eventually go. But there's no telling when.

I do think that when it starts to slip, it will fall incredibly fast though.

 

[javaguru]

The legacy of the Bretton Woods System is a distinct advantage for the dollar but fed policy can kill it.