Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Post-Crash Index-Moderated -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (27071)	6/26/2011 6:57:05 PM
From: Les H	1 Recommendation Read Replies (1) \| Respond to of 119360

This whole thing is staged abd scripted. Everyone knew nothing would happen until O is involved and has to share in the responsibility for the outcome.

To: bentway who wrote (27071)	6/26/2011 6:58:00 PM
From: ggersh	Read Replies (1) \| Respond to of 119360

Another crisis to take advantage of, what can go wrong?

To: bentway who wrote (27071)	6/26/2011 7:36:16 PM
From: bustersmith	Respond to of 119360

>> Couple that with the (R)'s blocking raising the debt ceiling and you've got a short-term potential catastrophe.<< Why in the world would you make a statement like that I wonder. Borrowing and spending the GOP way >> Like a drunk swearing off hooch for the hundredth time, Republicans are now trying to show they are serious about controlling the deficit by saying they won't raise the debt ceiling unless they get through some of their cost-saving projects, like privatizing Medicare. Meanwhile, they want revenue increases "off the table," even though, at 14.8% of GDP, revenues are at their lowest level in 60 years. And the budget passed by the Republican-controlled House further cuts taxes on the wealthy, a fact it glosses over with optimistic growth forecasts. Raising the debt ceiling isn't, as the GOP tries to say, Congress giving itself permission to continue excessive spending: It's something that's necessary to pay for past congressional decisions on taxes and spending, and those decisions were made primarily when Republicans were in charge. No one wants to have to raise the debt ceiling. But not doing so could lead to at least a temporary default on our debt, which would force up interest rates for everyone and add more than a trillion dollars to the cost of servicing the federal government's debt. Moreover, a default could seize up our private financial system in a manner similar to the Lehman Bros. collapse. Do the Republican holdouts really want that? If so, they might want to take a hard look at the streets of Athens.<< latimes.com