Will the U.S raise the Debt ceiling to 20T like Japan?

Lovey80 said:
hawkeye said:
Lovey80 said:
This whole sharade is the biggest load of bollocks in financial history. Just the fact that the US has a rating anything other than junk is a farce in itself. Obviously the rating agencies think it is ok to rate the USA in a different manner to say Greece.
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Maybe it is because the agencies are under the jurisdiction of the US govt.
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Of course. They think they'll lose credibility or something (like AAA sub-prime was credible).
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I was thinking they might realise they will raise the ire of the govt if they were to do so. After all, the US govt is like a tiger trapped in a corner. It might be trapped but it'll still bite your head off if you piss it off.
 
From what I can tell by net news is they're not going to allow the ceiling to be raised...... at all.....No deals to be done on the ceiling.......... I think this is great news, lets see the U.S man up and start paying some bills in the new year..
 
I'll believe it when they default which is what 4-6 weeks away? Until then it's all political huff and puff for the media
 
Well it looks like this new years eve is going to be something special this year.....Net news is plastered with articles about the present limit being hit on the 31st....Thats only two days away........I cannot wait to see this showdown!!!
 
That's just the limit they will breach on the 31st. They have reserves they can tap for about another 4-6 weeks before default. By all means, I'd like to see them crash and burn too, but we've all become accustomed to the last minute saves politicans pull from their ass to keep the ponzi dream alive
 
O.k so now they have two months until Feb 28....... What will they do then? What tricks can they pull for this one?
 
It seems to me that the whole world is awaiting the decisions being made on Feb 28th.... The U.S really is an important game player.... Will Obama get his way or will the Republicans rule this around???
 
Bullion Baron said:
TheEnd said:
O.k so now they have two months until Feb 28....... What will they do then? What tricks can they pull for this one?
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They will politcise the event until the eleventh hour and then raise it again like they have on every previous occasion.
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Meaning another round of kicking the can and ignoring problems.

Maybe when these issues are covered on the news, they can talk about the issues while showing film of kids with their fingers in their ears saying "ner ner ner ner ner" to drown out things they don't like to hear.
 
I think the event itself helps distract people from the real problem of too much government spending. They'll be back and forth arguments in the media from democrats blaming the GOP if their is no deal made and vice versa, different politicial and economical commentators will have their their say and how big the impact of the US defalting will have the domestic economy and the global economy to the point where the markets will force a deal which really doesn't address anything but can-kicking. You may see a small amount of government spending cut from non-essential services and defencing spending cuts that affect the administrative side so both sides can claim a win. Unless the tea-partiers want to really throw the toys out of the pram, I can'r see them not reaching a deal but it will come at the 11th hour again.
 
The whole thing is a media / politics circle jerk. They will run around screaming about a "crisis" then just vote to raise the debt ceiling at the last minute anyway. Then shares will pump and a few days later fall back down. Then later there will be a new "crisis". And round and round we go.

TBH I could barely stand the main stream news (I know, I know) around the time of the "fiscal cliff". This "debt ceiling" issue will be the same thing all over again. It's like some strange hybrid of reality TV, news, and "economics for dummies".

It's crisis after crisis until finally the brave politicians come riding in on their fiscal horses and bestow the serfs with their grand solution (which they never would have agreed to, but shit we have to fix ALL THE CRISISES).

More of the same, it will continue and continue until it can't. People's problem is they have been trained by Hollywood and the media to think that bad things happen straight away and there will be big black clouds out the window, burning oil drums in the street, etc. Then when bad news is announced and there are none of these things visible out the window, they think "oh, silly doomers! Everything is cool here" and go back to their business.

This shit is playing out sloooooowly but surely.
 
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