AAA

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http://www.telegraph.co.uk/finance/finan...ting-money.html
 Quote:
"The Oxford-educated Mr Fisher, an outspoken free-marketer and believer in the Schumpeterian process of "creative destruction", has been running a fervent campaign to alert Americans to the "very big hole" in unfunded pension and health-care liabilities built up by a careless political class over the years. "We at the Dallas Fed believe the total is over $99 trillion," he said in February. "This situation is of your own creation. When you berate your representatives or senators or presidents for the mess we are in, you are really berating yourself. You elect them," he said. His warning comes amid growing fears that America could lose its AAA sovereign rating."
 
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With the debt we have and the unfunded liabilities why is our rating still AAA? You would think that it would already have been lowered.
 
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The scariest thing about this is 90% of the American public either 1) doesn't care, or 2) more likely is clueless to our economic reality. I helped my mom move her stuff out of her schoolroom yesterday (she's a kindergarten teacher). The school is being closed because of budget shortfalls. Another teacher, in passing by the room, mentioned how sad it was the school is closing. I remarked that it's a symptom of the larger economy/country as a whole. She looked perplexed, so I went into a bit more detail - such as the accrual basis federal budget deficit being greater then world GDP. She looked back as if I had tried explaining how the space shuttle works. Just "duuuuuuuuuuuuuuuuuuuuuh". People just don't give a [censored]. Next month is the furthest into the future that most people fathom.
 
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Here's the ultimate question: WHAT DO WE (us tax paying average Joes) DO? Elections no longer matter. At what point do we take matters into our own hands? (digitalsniper will love that) People have done it throughout history.
 
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 Quote:
Mr. Fisher acknowledges that events in the financial markets last year required some unusual Fed action in the commercial lending market. But he says the longer-term debt, particularly the Treasurys, is making investors nervous. The looming challenge, he says, is to reassure markets that the Fed is not going to be "the handmaiden" to fiscal profligacy. "I think the trick here is to assist the functioning of the private markets without signaling in any way, shape or form that the Federal Reserve will be party to monetizing fiscal largess, deficits or the stimulus program." The very fact that a Fed regional bank president has to raise this issue is not very comforting. It conjures up images of Argentina. And as Mr. Fisher explains, he's not the only one worrying about it. He has just returned from a trip to China, where "senior officials of the Chinese government grill[ed] me about whether or not we are going to monetize the actions of our legislature." He adds, "I must have been asked about that a hundred times in China."
http://online.wsj.com/article/SB124303024230548323.html A ploy indeed. And other countries are catching on.
 

JHZR2

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 Originally Posted By: Drew99GT
 Originally Posted By: JHZR2
We have already defaulted just not in so many words. It is all a ploy.
Bernanke, hard at work.
Let's not forget that it is folks on both sides and all varieties that have induced the printing press to work overtime.
 

JHZR2

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Whoops, missed that one. My thoughts exactly. Who represents us when all seem to want to have the presses on?
 

buster

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Exactly, both sides and all varieties. It's sooo out of control at this point.
 
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Its the same with the stimulus checks. I would tell people that it was borrowed money and not a good thing. They would look at me like I was from Mars and mumble that the check should have been bigger.
 
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 Originally Posted By: Drew99GT
Here's the ultimate question: WHAT DO WE (us tax paying average Joes) DO? Elections no longer matter. At what point do we take matters into our own hands? (digitalsniper will love that) People have done it throughout history.
I'm waiting for the stress and frustration to rock a few things. I really cannot blame anyone for some things I expect to happen. You cannot expect to rob so many people of so much and have them remain civilly obedient.
 
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 Originally Posted By: JHZR2
Whoops, missed that one. My thoughts exactly. Who represents us when all seem to want to have the presses on?
No one has represented us beyond pacifying us into inaction. They floated the scam just long enough to make the impact irreversible. Didn't you sense the urgency in getting past some point of no return? "If we can keep them busy for a few more months, their fates will be cast in stone". Dark ..yes ..but for all intents and purposes ..100% true.
 
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 Originally Posted By: Gary Allan
 Originally Posted By: JHZR2
Whoops, missed that one. My thoughts exactly. Who represents us when all seem to want to have the presses on?
No one has represented us beyond pacifying us into inaction. They floated the scam just long enough to make the impact irreversible. Didn't you sense the urgency in getting past some point of no return? "If we can keep them busy for a few more months, their fates will be cast in stone". Dark ..yes ..but for all intents and purposes ..100% true.
Gee whillikers, and here I thought the government had the general publics best interests in mind in all their decision making!?!? It makes me pause when China holds so much power in our relationship. I think that they are now the dominant partner and want to make sure we don't screw THEM up with all our shenanigans...
 
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 Quote:
Gee whillikers, and here I thought the government had the general publics best interests in mind in all their decision making!?!?
Well, they may be acting in our best interest. I'm sure that our entrance into WWII was in our best interest too. It didn't stop Daddywarbucks from getting fat in the process. It's the same thing now. I think brokering off a big chunk of the American Dream over to China was (probably) in our best interest ..and there was good old re-imaged Daddywarbucks there to skim the cream off the top. The biggest crime, imo, is the lack of being informed why you're expected to take this bone for our own good. Again, the profiteers should be tried and executed. Mob rule would allow this ..which is why they buffer themselves under the protection of the republic representative shield.
 
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 Quote:
Again, the profiteers should be tried and executed. Mob rule would allow this ..which is why they buffer themselves under the protection of the republic representative shield.
Worked real well in Russia circa 1917... And the whole French Revolution thing... This appears to be Gary's final solution to inequity.
 
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(TDT employed) So, you WANT the government shield to allow taking the people's wealth??? This appears to be Tempest's final solution for establishing a feudal or aristocratic form of rule. Worked real well in Russia circa 1917 And the whole French Revolution thing...with the "let them eat cake" deal
 
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