America Will Default
No
HEAD: Bill Gross: Without A Gigantic Reform Of Entitlements, America Will Default
By Joe Weisenthal |
PIMCO boss Bill Gross has been warning against Treasuries for awhile, and recently he abandoned them completely.
In his latest investment outlook, he warns that America will default, thanks to trillions in entitlement obligations:
...the only way out of the dilemma, absent very large entitlement cuts, is to default in one (or a combination) of four ways:
1) outright via contractual abrogation – surely unthinkable,
2) surreptitiously via accelerating and unexpectedly higher inflation – likely but not significant in its impact,
3) deceptively via a declining dollar – currently taking place right in front of our noses,
4) stealthily via policy rates and Treasury yields far below historical levels – paying savers less on their money and hoping
they won’t complain.
+++++++++++
VOX POPULI FROM THE SITE
The question is, when will America cut entitlements? Maybe never.
-----------------
When will you stop voting for politicians who voted for TARP?
---------------
Of course, it's the entitlements that are the problem, not the special interest subsidies, tax breaks, and defense spending.
"A nation trying to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the
handle."--Winston Churchill
"From a purely economic standpoint, it makes no sense to tax corporations at all, because only people pay taxes, not legal
entities." -Richard Rahn
"Politicians will always spend every penny of tax raised and whatever else they can get away with."-Milton Friedman
"A fine is a tax on doing something bad, a tax is a fine on doing good."-- Author Unknown
11-02-10: One step back from the abyss of Obama-ism
No surrender!
Dionysus
Lamont Cranston
> FROM BUSINESS INSIDER
>
> HEAD: Bill Gross: Without A Gigantic Reform Of Entitlements, America Will Default
> By Joe Weisenthal
America can't default, Twinkie racist dumbfuck Denis. America operates
under a fiat monetary system. It has the capacity to spend in its own
currency, the same currency that it issues. So, American can *never*
run out of money.
Stay stupid, prick.
ray
<chine.bleu-10BBA...@62-183-169-81.bb.dnainternet.fi>,
China Blue Meanies <chine...@yahoo.com> wrote:
> In article <sim8p6pc1mhgc3t8n...@4ax.com>, No
> Surr...@never.net
> wrote:
>
> > HEAD: Bill Gross: Without A Gigantic Reform Of Entitlements, America Will
> > Default
>
> Is the F-35 considerred an entitlement?
No, but it's considered a pittance in comparison to the kind of spending
going on.
--
Barock Insane Obama: The greatest joke America ever played on itself.
Nickname unavailable
wrote:
gross knows full well we cannot default. what gross is up to, is he
is trying to raise interests rates, then he will jump in and buy
treasuries again. this is not his first attempt to get rates raised.
No
**************
...the only way out of the dilemma, absent very large entitlement cuts, is to default in one (or a combination) of four ways:
1) outright via contractual abrogation – surely unthinkable,
2) surreptitiously via accelerating and unexpectedly higher inflation – likely but not significant in its impact,
3) deceptively via a declining dollar – currently taking place right in front of our noses,
4) stealthily via policy rates and Treasury yields far below historical levels – paying savers less on their money and hoping
they won’t complain.
Dionysus
ray
<chine.bleu-DA83A...@news.eternal-september.org>,
China Blue Meanies <chine...@yahoo.com> wrote:
> In article <in2qh...@news3.newsguy.com>, ray <xxxr...@aol.com> wrote:
>
> > In article
> > <chine.bleu-10BBA...@62-183-169-81.bb.dnainternet.fi>,
> > China Blue Meanies <chine...@yahoo.com> wrote:
> >
> > > In article <sim8p6pc1mhgc3t8n...@4ax.com>, No
> > > Surr...@never.net
> > > wrote:
> > >
> > > > HEAD: Bill Gross: Without A Gigantic Reform Of Entitlements, America
> > > > Will
> > > > Default
> > >
> > > Is the F-35 considerred an entitlement?
> >
> > No, but it's considered a pittance in comparison to the kind of spending
> > going on.
>
> So you're saying we spend more on cowboy poetry than useless fighters.
It's a combination of many things, and yes, stupid shit like cowboy
poetry. Add that to the Hussein list for the study of Chinese
prostitutes, turtle tunnels, teaching Africans how to clean their dicks
and trains to nowhere.
The damn shame is our founders never expected this "you wash my back and
I'll wash yours" out of our representatives. This is why they limited
what our representatives were allowed to spend money on.
You can buy the nicest most friendliest dog in the city. After you've
had that dog for a while, give him his first meaty bone, and then try to
take it away from him ten minutes later. That dog will turn from
friendly to protective and you will most likely get bit.
This is not only animal nature, but human nature as well. Democrats
understand this. So now the Republicans want to take away that bone.
Trust me, I live in Ohio, and I see all kinds of people writing Facebook
on how awful it is that Kasich is doing his best to restrain government
unions to save our state. Everybody writes what they think union people
deserve, but not one was able to tell me where that money is supposed to
come from.
ray
<chine.bleu-2770A...@news.eternal-september.org>,
China Blue Meanies <chine...@yahoo.com> wrote:
> In article <in34p...@news3.newsguy.com>, ray <xxxr...@aol.com> wrote:
>
> > The damn shame is our founders never expected this "you wash my back and
> > I'll wash yours" out of our representatives. This is why they limited
> > what our representatives were allowed to spend money on.
>
> Since defence appropriations are limitted to two years, you argue that a
> trillion dollars for a mere useless fighters is a piitance. However they put
> no
> time limitations on appropriations for post roads, so interstate rail funding
> is
> always an illegal waste of money.
Not really. Not if it's solely for the advancement of our society.
It's another thing if you are doing so only for the purpose of providing
jobs to your constituency base. Again...... backscratching.
Lamont Cranston
> On Thu, 31 Mar 2011 13:49:24 -0700, Lamont Cranston<Lamont....@FogYourMind.com> wrote:
>
>> On 3/31/2011 3:47 AM, No Surr...@never.net wrote:
>>> FROM BUSINESS INSIDER
>>>
>>> HEAD: Bill Gross: Without A Gigantic Reform Of Entitlements, America Will Default
>>> By Joe Weisenthal
>>
>> America can't default, Twinkie racist dumbfuck Denis. America operates
>> under a fiat monetary system. It has the capacity to spend in its own
>> currency, the same currency that it issues. So, American can *never*
>> run out of money.
>>
>> Stay stupid, prick.
> **************
> ...the only way out of the dilemma
...is to print more money, my dumbass, uneducated turd.
No
>In article <in34p...@news3.newsguy.com>, ray <xxxr...@aol.com> wrote:
>
>> The damn shame is our founders never expected this "you wash my back and
>> I'll wash yours" out of our representatives. This is why they limited
>> what our representatives were allowed to spend money on.
>
>Since defence appropriations are limitted to two years, you argue that a
>trillion dollars for a mere useless fighters is a piitance. However they put no
>time limitations on appropriations for post roads, so interstate rail funding is
>always an illegal waste of money.
*************
Sweet Jay-sus (In the words of my sainted Irish grandmother), No Nuts, will you please learn grammar and syntax before you
try to corresponmd with us grownups! Not only is your pseudo-philosophy nonsensical, so is your manner of expressing it.
Grow up, grow a set, and go watch a football game.
Dionysus
No
**********
Then you get to use a wheelbarrow to transport the bills you need to buy a loaf of bread, Young Vulgarian. Think Weimar
Republic, 1932!!!
Dionysus
Clave
"ByeStander" <ByeSt...@home.com> wrote in message
news:m0edp6pdvadflorfh...@4ax.com...
<...>
> Obama is making the poor, poorer, faster than any other President
> since Jimmy Carter.
How, exactly, is he doing that?
Stan de SD
> "ByeStander" <ByeStan...@home.com> wrote in message
One way is double-digit unemployment. Another way is an energy policy
that pushes the price of gasoline and electricity up.
A third way might be the inflation that would result if the feds
monetarize the debt by increasing the money supply without a
commensurate increase in productivity.
Once again, real life proves that the zero-sum economic mindset of the
left is seriously flawed...
Clave
"Stan de SD" <stan...@gmail.com> wrote in message
news:8290f45b-b6f3-40e8...@k10g2000prh.googlegroups.com...
> On Apr 1, 9:58 pm, "Clave" <claviusdespamm...@cablespeed.com> wrote:
>> "ByeStander" <ByeStan...@home.com> wrote in message
>>
>> news:m0edp6pdvadflorfh...@4ax.com...
>>
>> <...>
>>
>> > Obama is making the poor, poorer, faster than any other President
>> > since Jimmy Carter.
>>
>> How, exactly, is he doing that?
>
> One way is double-digit unemployment.
How did he do that?
> Another way is an energy policy
> that pushes the price of gasoline and electricity up.
Explain how that happens.
> A third way might be...
Not interested in your paranoid fantasies, Stan. The things you think are
facts are questionable enough.
Jim
Beam Me Up Scotty
> "Stan de SD" <stan...@gmail.com> wrote in message
> news:8290f45b-b6f3-40e8...@k10g2000prh.googlegroups.com...
>> On Apr 1, 9:58 pm, "Clave" <claviusdespamm...@cablespeed.com> wrote:
>>> "ByeStander" <ByeStan...@home.com> wrote in message
>>>
>>> news:m0edp6pdvadflorfh...@4ax.com...
>>>
>>> <...>
>>>
>>>> Obama is making the poor, poorer, faster than any other President
>>>> since Jimmy Carter.
>>>
>>> How, exactly, is he doing that?
>>
>> One way is double-digit unemployment.
>
> How did he do that?
the inflation of food and energy.
Clave
"Beam Me Up Scotty" <Then-Destro...@Blackhole.NebulaX.com> wrote in
message news:4D96E181...@Blackhole.NebulaX.com...
<...>
>>>>> Obama is making the poor, poorer, faster than any other President
>>>>> since Jimmy Carter.
>>>>
>>>> How, exactly, is he doing that?
>>>
>>> One way is double-digit unemployment.
>>
>> How did he do that?
>
> the inflation of food and energy.
He did that? How do you suppose he did that?
Jim
Beam Me Up Scotty
Borrowing and spending.... NOT drilling for OIL, allowing the Alcohol
subsidy to continue. Cash for clunkers, appliances, Houses...
Redistributing jobs and money and health care and more.....
Clave
> On 4/2/2011 4:46 AM, Clave wrote:
>> "Beam Me Up Scotty" <Then-Destro...@Blackhole.NebulaX.com> wrote
>> in
>> message news:4D96E181...@Blackhole.NebulaX.com...
>>
>> <...>
>>
>>>>>>> Obama is making the poor, poorer, faster than any other President
>>>>>>> since Jimmy Carter.
>>>>>>
>>>>>> How, exactly, is he doing that?
<...>
> Borrowing and spending.... NOT drilling for OIL, allowing the Alcohol
> subsidy to continue. Cash for clunkers, appliances, Houses...
>
> Redistributing jobs and money and health care and more.....
You think he has that kind of power?
MY GOD, what kind of idiot are you?
"The best America has, sir."
-- anon
Jim
ray
More???? You want more??? No problem. One of his first decisions upon
invading the White House was to increase taxes on tobacco users which is
about 20% of our population. In my state, that caused cigarettes prices
to double. Next he decided that he was going to take care of a large
part of his constituency base--the irresponsible. So he passed
legislation that forbid credit card companies from making money off of
those who didn't pay their bills on time, and that forced those
companies to recoup that money on their good responsible customers
(Republicans) with increased interest rates and balance transfer fees.
Who wants to use a credit card these days?
Prior to that, he passed Commie Care which taxed health insurance
companies leaving them with no choice but to increase premiums to cover
that loss. As we know, employers are the largest health care providers,
and many working Americans faced increased employee contributions or
didn't see an increase in pay the last couple of years.
So credit card users, tobacco users, and anybody who gets healthcare
insurance from their employer all took a huge loss. And then this
big-eared dope can't figure out why the economy is stuck in neutral.
Worse than that, his supporters can't figure it out either. Instead,
they make some ignorant comment about corporations.
No
**************
And there's a flurry of triple right crosses to the face of another ham-and-egger, glass-jawed, lefty (whew, great word
imagry, eh!)
"Don't make me look bad." --Braack, The Magic Mulatto Dude, "Steaming Pile of…"
"The big difference here and in '94 was, you've got me." --Braack, The Magic Mulatto Dude, "Steaming Pile Of..."
"They don't call Obama "Lord of The Flees" for nothing. He's merely leading the Democrats by example."--Author Unknown
"There are no such thing as shovel-ready projects." -Braaack, The Magic Mulatto Dude, "Steaming Pile Of..."
"Two things are infinite: the universe and human stupidity; and I'm not sure about the the universe." --Albert Einstein
Beam Me Up Scotty
> "Beam Me Up Scotty" <Then-Destro...@Blackhole.NebulaX.com> wrote in
> message news:4D96E7A2...@Blackhole.NebulaX.com...
>> On 4/2/2011 4:46 AM, Clave wrote:
>>> "Beam Me Up Scotty" <Then-Destro...@Blackhole.NebulaX.com> wrote
>>> in
>>> message news:4D96E181...@Blackhole.NebulaX.com...
>>>
>>> <...>
>>>
>>>>>>>> Obama is making the poor, poorer, faster than any other President
>>>>>>>> since Jimmy Carter.
>>>>>>>
>>>>>>> How, exactly, is he doing that?
>
> <...>
>
>> Borrowing and spending.... NOT drilling for OIL, allowing the Alcohol
>> subsidy to continue. Cash for clunkers, appliances, Houses...
>>
>> Redistributing jobs and money and health care and more.....
>
> You think he has that kind of power?
>
> MY GOD, what kind of idiot are you?
>
> "The best America has, sir."
> -- anon
>
> Jim
>
>
>
No
**************
"Obama has now fired more cruise missiles than all other Nobel Peace prize winners combined." -Author unknown
What's another name for fearmongering, incompetent nincompoop? Why, Braaack, The Magic Mulatto Dude, "Steaming Pile Of…", of
course. He'll soon by listed as such in dictionaries and thesauri everywhere.
Why would anyone support The Magic Mulatto Dude, that "boy in a man's job"?
I predict "My God, what did we do" voter regret, and The Magic Mulatto Dude's bony ass being kicked out
in 2012...if he survives.
It's fun watching the implosion.
No Surrender!
Dionysus
Lamont Cranston
> On Thu, 31 Mar 2011 13:49:24 -0700, Lamont Cranston
> <Lamont....@FogYourMind.com> wrote:
>
>
> Unlike states, huh?
I said nothing about states, did I?
>
> Life is so easy when one can never run out of money with no
> consequences?
>
>
> Obama is making the poor, poorer, faster than any other President
> since Jimmy Carter.
Simply a lie. Obama is pulling American out of the cesspool that Bush
left it in.
Clave
Despite your prolonged pants-peeing, he didn't need it.
--
Well, shit, you confused me. More than normal
-- Beldin
Jerry Okamura
"Lamont Cranston" wrote in message news:in2pcd$qrj$1...@news.datemas.de...
On 3/31/2011 3:47 AM, No Surr...@never.net wrote:
> FROM BUSINESS INSIDER
>
> HEAD: Bill Gross: Without A Gigantic Reform Of Entitlements, America Will
> Default
> By Joe Weisenthal
America can't default, Twinkie racist dumbfuck Denis. America operates
under a fiat monetary system. It has the capacity to spend in its own
currency, the same currency that it issues. So, American can *never*
run out of money.
Stay stupid, prick.
Dream on
Beam Me Up Scotty
> On Sat, 02 Apr 2011 15:59:08 -0700, Lamont Cranston
> <Lamont....@FogYourMind.com> wrote:
>
>> On 4/1/2011 10:50 PM, ByeStander wrote:
>>> On Thu, 31 Mar 2011 13:49:24 -0700, Lamont Cranston
>>> <Lamont....@FogYourMind.com> wrote:
>>>
>>>> ... So, American can *never* run out of money.
>>>
>>> Unlike states, huh?
>>
>> I said nothing about states, did I?
>>
>>>
>>> Life is so easy when one can never run out of money with no
>>> consequences?
>>>
>>>
>>> Obama is making the poor, poorer, faster than any other President
>>> since Jimmy Carter.
>>
>> Simply a lie. Obama is pulling American out of the cesspool that Bush
>> left it in.
Obama is just moving us into a different cesspool.....
Beam Me Up Scotty
Clave
Obama had the endorsement of the UN Security Council, which provided the
legal authorization.
Bush was nowhere *near* getting the UNSC behind him.
I understand your desperation to pretend the two situations were remotely
similar, but they aren't.
Jim
Beam Me Up Scotty
The constitution doesn't require any UN authorization.... the
Constitution requires the Congress' authorization.
So the correct chain of command is the U.S. Constitution then treaties
and laws and there is the laws like the one that congress made
unconstitutionally that allows the President to go to war in case of
threat of eminent attack. The "War Powers Act" would need to be a
constitutional amendment to actually take power away from congress and
apply that power to the Executive branch.
You can't change *the constitutions balance of powers* with a federal
law, it takes an amendment to the constitution.
Beam Me Up Scotty
The constitution doesn't require any UN authorization.... the
Constitution requires the Congress' authorization.
So the correct chain of command is the U.S. Constitution then Federal
treaties and laws and those are the laws like the one that congress made
unconstitutionally that allows the President to go to war in case of
threat of eminent attack. The "War Powers Act" would need to be a
constitutional amendment to actually take power away from congress and
apply that constitutional power to the Executive branch.
Being that a "TREATY" can't supersede the constitution, that means that
no matter what the U.N. approves or NOT it's NOT binding over and above
the constitution and the constitution says CONGRESS decides to go or NOT
go to war. That is NOT negotiable and that means the UN can authorize
or NOT authorize and the congress has no legal imparitive to consider
what the U.N. says. The decision is not and can NOT be transfered to
the U.N. without an amendment to the constitution that transfers the
power and that may not be an option given the 10th amendment that does
NOT recognize the U.N. and it says all powers NOT given to the Federal
government, belong to the States or the people, so given that no powers
can be authorized to any other government like the U.N. I think you are
SHIT OUT OF LUCK.