on June 23, 2011 by ZooKeeper in Uncategorized, Comments (2)
Breaking, Joe Biden Led Budget Talks Have Just Broken Down
Well here goes the economy folks. If the debt ceiling is not dealt with, most people do not realize the impact it will have. We have already borrowed the money being debated. If the US were to default on debt, it would make Lehman Brothers look like small bump. Every nation that is holding US treasuries will freak the hell out. Our borrowing costs will skyrocket like is currently being experienced in Greece.
Despite what any tea party people say, if we default, you can kiss the already crappy economy goodbye. I agree that we need to get our budget under control and painful cuts are coming, but defaulting on debt is no option.
The debt ceiling talks, led by Joe Biden, have broken down and this very bad news for the markets. We will see how this develops.
sunny
June 23, 2011 @ 7:37 pm
Your right most people don’t understand.I’m one of those people.Does that mean that China can foreclose on us a take our land?
JPMartin
June 23, 2011 @ 9:41 pm
Well indeed you are wrong. The corporation of America has been bankrupt now for nearly 100 years. This will not change and it is why we have gone into this wizard of oz money system backed by indefinite slavery of the masses. You own nothing, the government of America owns everything.
Time to understand that you are on the wrong side of the fence here. There is no salvaging the system because it was designed to fail, entrapping millions upon millions of innocent souls, to burn among the flames of regret and agony.
GLTU in these trying times.