So, uh... About that debt ceiling.

[Slowhand]

No. pm coming.

Shoot that explanation my way if you don't mind.

[YALE]

No. pm coming.

Can I get an opinion via pm? I promise not to post it.

[slow99]

It would probably be beyond my comprehension anyway.

No. pm coming.

[Denny]

Ha... I don't even know if I want to try and explain this one here!

It would probably be beyond my comprehension anyway.

[AnthonyS]

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?

All good ponzi schemes eventually come to an end. Madoff sits in jail, but Congress still draws a paycheck. You figure that one out, and you'll be king someday.

[slow99]

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

Ha... I don't even know if I want to try and explain this one here!

[slow99]

Or stop paying old people. Those are basically your two choices. I'm not happy with anything unless their is a balanced budget amendment included. If there isn't, we will be in this same boat again 30 years from now because government bankrupts everything it touches.

Yep, the first mention of cutting SS and Medicare and the AARP will make the unions seem generous. Old people vote.

[exlude]

I think its time america pays its debt and to pay it off sooner then later means raising taxes.

The problem I see with this is that, without very careful legislation, we will see the taxes raise and, with their new spending power, the taxes will never go back down.

[Broncojohnny]

I think its time america pays its debt and to pay it off sooner then later means raising taxes.

Or stop paying old people. Those are basically your two choices. I'm not happy with anything unless their is a balanced budget amendment included. If there isn't, we will be in this same boat again 30 years from now because government bankrupts everything it touches.

[Broncojohnny]

don't bonds take a tubble when interest goes up?

The price of existing bonds will go down. The time to buy bonds is when rates are high as hell. You don't just collect the interest, you wait for rates to go down and then unload them at a premium to their face value.

[jyro]

That still won't work unless they cut back on spending

I think its time america pays its debt and to pay it off sooner then later means raising taxes.

Good luck getting that to happen.

[jyro]

and out of bond funds?

My take:There won't be a QE3 program and the Fed will raise interest rates several times before the end of the year.

don't bonds take a tubble when interest goes up?

[Cannonball996]

I think its time america pays its debt and to pay it off sooner then later means raising taxes.

[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.

[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.