So, uh... About that debt ceiling.

[YALE]

WTF are we gonna do? Actually elect Ron Paul POTUS? Fuuuuuuuuuuuck!!!! Can we get some real spending cuts in this motherfucker? Can we end the Fed while we're at it?

[Denny]

Two options, bro... either raise it or default. No spending cuts will save shit at this point. On top of that, we will have QE 3 in June, even though it might be named and introduced into the economy differently.

[YALE]

Brutal.

[Denny]

Pick your poison

[347Mike]

My little brain may not be able to comprehend this but why don't they just shut off spending, make drastic cuts fix the problem and be done with it? You know, like what individual people and families have to do when they don't have money to pay their bills? What is there to think about? When I was younger and didn't have all the money to pay bills I had to eat cheap, live cheap, and spending was out of the question. Lifestyle change for sure. I understand it is not because of us, the people, that got us in this situation as much as it is the government, but I say do what needs to be done, make it hurt and get it the fuck over with. The current plan of sitting around fondling ourselves obviously isn't working. If I have to pay more taxes for a year or two for the greater good ie retirement for me and/or even my kid, then so be it, but do something.

This just seems like a very simple solution. If I have 0 dollars in the bank but have 3 credit cards with no balance, I am most likely going to find a way to make more money and not max my shit out and borrow money....

Just my two cents.

[Kurtie]

Bearers of bad news don't get re-elected and I'm pretty sure that most of these guys forgot what a real job entails.

[Broncojohnny]

My take:

They will extend the debt ceiling after some posturing from the Republicans about spending cuts. There will be some symbolic cuts that mean nothing just like when the budget was passed.

There won't be a QE3 program and the Fed will raise interest rates several times before the end of the year. This will bring the dollar off of its low point and crush the commodities market. It will be a good time to be in any inflation indexed investment.

[SMEGMA STENCH]

Two options, bro... either raise it or default. No spending cuts will save shit at this point. On top of that, we will have QE 3 in June, even though it might be named and introduced into the economy differently.

Can I get your version of what QE3 is? I am not sure I get the google version..

[jakesford]

My little brain may not be able to comprehend this but why don't they just shut off spending, make drastic cuts fix the problem and be done with it? You know, like what individual people and families have to do when they don't have money to pay their bills? What is there to think about? When I was younger and didn't have all the money to pay bills I had to eat cheap, live cheap, and spending was out of the question. Lifestyle change for sure. I understand it is not because of us, the people, that got us in this situation as much as it is the government, but I say do what needs to be done, make it hurt and get it the fuck over with. The current plan of sitting around fondling ourselves obviously isn't working. If I have to pay more taxes for a year or two for the greater good ie retirement for me and/or even my kid, then so be it, but do something.

This just seems like a very simple solution. If I have 0 dollars in the bank but have 3 credit cards with no balance, I am most likely going to find a way to make more money and not max my shit out and borrow money....

Just my two cents.

Unfortunately the federal budget doesn't work the same as a family's budget... Government spending increases GDP, you cut back budgets and thousands of government employees are now out of work and drawing unemployment benefits. Raising personal income taxes will further reduces spending and will lower GDP. The rich are already paying a majority of the income tax that the government collects, so how much further are we willing to push the wealthy? Marginal corporate tax rates are some of the highest in the world, the effective rate is a different issue, but many of these tax breaks are there to increase spending and reinvestment which are beneficial to growth.

We will eventually wipe out a majority of the debt with inflation, however this means that there will be a time in our future that will make the great depression look like a joke.

I definitely do not know what the answer is, and I know there are people that are a hell of lot smarter than me that are being paid to deal with this very issue.

[347Mike]

Unfortunately the federal budget doesn't work the same as a family's budget... Government spending increases GDP, you cut back budgets and thousands of government employees are now out of work and drawing unemployment benefits. Raising personal income taxes will further reduces spending and will lower GDP. The rich are already paying a majority of the income tax that the government collects, so how much further are we willing to push the wealthy? Marginal corporate tax rates are some of the highest in the world, the effective rate is a different issue, but many of these tax breaks are there to increase spending and reinvestment which are beneficial to growth.

We will eventually wipe out a majority of the debt with inflation, however this means that there will be a time in our future that will make the great depression look like a joke.

I definitely do not know what the answer is, and I know there are people that are a hell of lot smarter than me that are being paid to deal with this very issue.

Makes sense. When I mentioned spending though I wasn't implying to cut peoples pay, or initiate a furlough, just quit spending money on things we can temporarily do without.

[aggie97]

We will eventually wipe out a majority of the debt with inflation, however this means that there will be a time in our future that will make the great depression look like a joke.

This is an understatement!!!

[Denny]

Can I get your version of what QE3 is? I am not sure I get the google version..

If I knew for sure, I'd be busy moving something somewhere. I'll post up if my dumb ass figures it out, though.

[Denny]

My take:

They will extend the debt ceiling after some posturing from the Republicans about spending cuts. There will be some symbolic cuts that mean nothing just like when the budget was passed.

There won't be a QE3 program and the Fed will raise interest rates several times before the end of the year. This will bring the dollar off of its low point and crush the commodities market. It will be a good time to be in any inflation indexed investment.

What about commodities that ARE inflationary based?

[Slowhand]

Can I get your version of what QE3 is? I am not sure I get the google version..

The government presses a button and lots of monopoly money falls from the sky.

[Broncojohnny]

What about commodities that ARE inflationary based?

You are seeing the weak dollars talking in the commodity markets. Once the Fed raises rates that all starts to go away. If they raise rates tomorrow, watch what happens. I now don't think they will but it is possible.