Sequestration could break the U.S economy.?

:lol: You're shi**ing me!
Reduction of
- US$55 billion on defence
- US$27 billion on nondiscretionary

Yep. That'll put a HUGE dent in the $1.1 trillion dollar deficit. The economy is turtled if they cut by such a massive amount :lol:
 
bordsilver said:
:lol: You're shi**ing me!
Reduction of
- US$55 billion on defence
- US$27 billion on nondiscretionary

Yep. That'll put a HUGE dent in the $1.1 trillion dollar deficit. The economy is turtled if they cut by such a massive amount :lol:
Click to expand...



Very interesting times.

Have not seen it posted.
Someone will let me know if it has.

http://www.zerohedge.com/news/2013-02-25/chart-everyone-concerned-about

Its the second chart that I find the most interesting especially the comment.

6512_zzz.jpg


"The last few times that VIX has seen such a 4-day low-to-high risk-flare were extremely significant events..."




Cheers markcoinoz
 
bordsilver said:
:lol: You're shi**ing me!
Reduction of
- US$55 billion on defence
- US$27 billion on nondiscretionary

Yep. That'll put a HUGE dent in the $1.1 trillion dollar deficit. The economy is turtled if they cut by such a massive amount :lol:
Click to expand...

You need a sarcasm smiley BS :lol:

SEN. RAND PAUL (R-KENTUCKY): If we can't cut this little bit about and this really is a cut in the rate of increase, I worry will we ever move forward? Are we destined for bankruptcy in this country if we can't cut the rate of growth? Because that's what we're talking about. Over ten years, the $1.2 trillion in "cuts" actually allows the budget to grow over 10 years.
Click to expand...

http://www.realclearpolitics.com/vi..._federal_workers_cut_foreign_aid__travel.html

[youtube]http://www.youtube.com/watch?v=exrFOQyFsHU[/youtube]
 
Yep, sarcasm smiley required. Yesterday I actually sprayed my tea when I saw what a pitiful, irrelevant thing it was but was portrayed as the end of the world.

On the up side at least the (miniscule) sequester is going to "hit" the bits that Congress can't easily touch. :/

The cost of the sequester, if allowed to unfold in full, could be devastating, in human and economic terms.
Click to expand...
:lol:
 
It may be a drop in the ocean, but that money is paying for tangible things in the economy like jobs. If less is being spent on defense, what's the first thing to go in cost cuts? The government can't afford to stop the gravy train.
 
Henry Wartooth said:
It may be a drop in the ocean, but that money is paying for tangible things in the economy like jobs. If less is being spent on defense, what's the first thing to go in cost cuts? The government can't afford to stop the gravy train.
Click to expand...

Exactly. Lots of ordinary people making their living from that money. Military and all it's subsidiaries is a huge part of the economy. Many big companies have arisen to provide for the military and there are lots of jobs there.

There isn't really much, in a political sense, that the government can cut. That's why it's just going to keep running until a major crisis hits and all these things along the way are mere sideshows to the big event.

EDIT: I look forward to the day because I think ultimately that the US Government going broke will be a good thing for the world as a whole in the long-term. Even though it will cause short-term distress to many people. That institution creates far more harm than good. It's got to go.
 
^ God damn, the rhetoric and bulldust is tedious isn't it? They definitely have no respect for the average American and think they are complete dumb arses.
 
Good i hope it happens. i can't stand obama... all he does is blame things on everyone else, which is what's going to happen if this does happen.. He says "congress won't work with me." The only way to work with obummer is if you agree to every single thing he wants.. He's a monarch. He recently just let 1000+- illegal immigrants, waiting to be deported, go from jail before anyone is even sure if these spending cuts are going to happen. Funny thing is that the illegals had to swear they'd come back to be deported if the sequester doesn't go through LOOOOOOOL. Obummer makes this out as if this sequester is the end of the world. It's not. I'm not for things hurting the economy but if it's best in the long run then it's good to hurt us now than have things impact us in a more severe way further down the road
 
Well at least there are finally getting things done about all their troubles even if it is just some small changes...... I read it will cost 750,000 jobs in total they're saying. Thats alot of jobs!
 
TheEnd said:
Well at least there are finally some things getting done about all their troubles even if it is just some small changes...... I read it will cost 750,000 jobs in total they're saying.
Click to expand...
750k this year. I wonder how many it will cost next year if things get worse with the other problems we have.
 
bordsilver said:
:lol: You're shi**ing me!
Reduction of
- US$55 billion on defence
- US$27 billion on nondiscretionary

Yep. That'll put a HUGE dent in the $1.1 trillion dollar deficit. The economy is turtled if they cut by such a massive amount :lol:
Click to expand...

Military Power is the only defence of the USD. During the height of the Iraqi liberation the cost was reported to be $1.5 Billion per day. You could look at that as a wise investment, after all, now they have first dibs on all that black gold. Proving that if you have the power/patriotism & the willingness to fight to keep it, then you can keep printing the fiat. Rome lost the will to do the same 800 years back & the result is history.
 
So when will we start seeing some changes in the worlds economy due to all these spending cuts? Or is it just a drop in the ocean on the larger scale of things?
 
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