DEBT DEAL MADE: Default Averted Ending Government Shutdown !!

S

Silver2012

New Member
It looks like a debt deal has been made to postpone the effect of running out of free money and defaulting on the U.S. obligations. Here's my take on the so-called "deal." The contents of this deal are discussed in the video below. The deal will fund the government until 15 January and lift the debt ceiling until 7 February. It will force both sides into a formal budget conference in an attempt to reach a longer-term deal by 13 December.

[youtube]http://www.youtube.com/watch?v=cgq6TPb_aHo[/youtube]

All they really did was postpone any true solutions until December. Will any true solutions ever come or will the can continue to be kicked further and further down the road?
 
Kicking%2Bthe%2Bcan.png

who wooda thunk it
 
No way. You don't normally downgrade your own rating.
It's AAA+++ just keep buying our bonds, they're super safe!
 
The words 'Credit Rating' for the US should be changed... I mean, shouldn't you have credit in order to rate it.


IMO they have lost it all in the shenanigans of these last few weeks.
 
Interesting little article posted in the MSM (saw a reference to it on news.com.au).

Basically, a Silicon Valley capital venturist (Chamath Palihapitiya) is saying that the US gov shutdown was a great thing, markets by their nature value meaningful productivity, governments are not meaningful nor are they productive and the functional value of governments is NIL.

Now, of course the journo reporting this has painted Palihapitiya and his like as pushing a message that goes beyond Libertarianism and those in favour of small governments, they are selfish profiteers promoting anarchy and heartlessness. But what would the journo know? Squat all I suggest.

The message from Palihapitiya? Probably that free market capitalism is the honest way to determine what is value and that the best way for humans to satisfy their needs and wants is through free market capitalism - governments only screw up that process.

The Government Shutdown Has Revealed Silicon Valley's Dysfunction Fetish

Chamath Palihapitiya is not a dumb or heartless man. A former Facebook employee, venture-capitalist multimillionaire, and owner of the Golden State Warriors, he's gotten into Silicon Valley's inner circle as a prominent backer, for instance, of FWD.us, Mark Zuckerberg's political lobbying group, and he's spent a lot of his social and financial capital pushing for good causes in areas like health care. He's clearly not someone who takes the suffering of others lightly.

So it's surprising that in an interview last week, Palihapitiya revealed that he is entirely emblematic of Silicon Valley's extreme myopia when it comes to the political system, and dismissive of those who suffer when the system grinds to a halt.
Click to expand...

Read more here, the video linked in the story is also a fascinating insight into the mindset and philosophy of a young, successful tech head entrepreneur - not exactly a field I'm familiar with :lol: Highly recommended (if you can put up with the plugs every so often).

http://nymag.com/daily/intelligencer/2013/10/silicon-valleys-dysfunction-fetish.html

To Kevin Roose (the journo), I'd suggest a short course in Austrian Economics, followed by a month off to read Ayn Rand's "Atlas Shrugged" and then a paid subscription to SilverStackers. That will help open your mind.
 
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