US debt ceiling.

[the_bob_delusion]

can someone explain it to me in simple terms. I'm really dense when it comes to global economy.

[kopenhagen5]

But, secret societies move in silent ways.

Greater unthought of scenarios are played like pawns for the greater good. Unrealized by the majority.

[poddster]

Greater good???

Dont think so, more like for personal gain as borne out by history since time immemorial

[kopenhagen5]

Keeping in mind the gradual intellectual upturn in the past 150 years.

Appreciate the basic human instincts, however the cleverness I think has surpassed in such a way, furture protection supercedes individual life, at least amongst certain decision makers.

[poddster]

Instead if intellectual up turn there is a down turn in collective awareness which could be seen as an intellectual upturn

[viewmont1071]

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@am*3 wrote:

Crikey you don't expect any country to have no debt do you (or very little debt)?

If the Govt spends money on infrastructure that can stimulate the economy.. more employment, more building materials etc bought.. how can they pay for that if not by borrowing?

As this thread is about US debt ceiling.. I guess we should actually stick with  discussing the US economy.

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Brunei owes nobody

List of countries by external debt below

http://en.wikipedia.org/wiki/List_of_countries_by_external_debt

What is the fiscally responsible thing to do in the scenario below if you are one of the countries on the top of the list ie USA

 your credit card is maxxed out but you want to finish renovating your house. Presently you can only meet the minimum monthly

payment on the CC hence the maxxed out bit

..........so...........

.....do you just seek a limit increase on your present card or seek another card provider who will lend you money

.......or do you ......

find the money elsewhere by...wait for it... selling something, working an extra job or rehashing your budget and learning to do

without rather than trying to 'keep up with the Jone's next door ???......

Do you notice that the countries on the bottom of the list with the least debt are amongs the "richest" and the "poorest" Nations

intermingled?

Yet all the countries at the top of the list with the most external debt are all perceived as "rich" economies

[icyfroth]

Here's what yesterday's CEC media release says about it:

"The biggest derivatives gamblers on Wall Street continue to threaten that all Holy Hell will be unleashed if the U.S. Congress fails to extend the debt ceiling, and guarantee the banks their due. Jamie Dimon, the boss of one of the world’s biggest derivatives banks, JPMorgan Chase, warned that a U.S. default “would ripple across the global economy in ways you couldn’t possibly understand.” The world’s biggest bond trader Pimco’s El-Erian swore that it “could cause a crisis that dwarfs the bankruptcy of Lehman Brothers in 2008. You will freeze the system.”

Click Here To Read Entire Article

[spotweldersfriend]

The bill will get passed and next year they'll have to lift the ceiling yet again.

[poddster]

Typical !!!

The moneylenders are warning that all hell will break loose while they rub their hands together and check their future profits

[icyfroth]

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@**freethinker_bob** wrote:

can someone explain it to me in simple terms. I'm really dense when it comes to global economy.

---

Here you go:

[jimmy*part4]

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@kopenhagen5 wrote:

But, secret societies move in silent ways.

Greater unthought of scenarios are played like pawns for the greater good. Unrealized by the majority.

---

No doubt. Some of them are senators and congressmen (or just in there pocket). Decisions they make cause fluxuations in the stock market that "they" bet on when they are the ones causing these fluxuations. They have knowledge beforehand and make money whether the stock goes up OR down.

If any of us were to do it we'd be charged with insider trading, which is not illegal for congressmen.

Am*3, it might seem off topic but they are connected. I'm sure the people behind the scenes causing the debt crisis is contemplating how to profit from it. I can assume their counterparts in other countries know who "they" are and have warned them to not let the deadline go by.

I would think that call by their Chinese counterparts wouldn't be exactly nice about warning them about playing with their profits.

I'd bet on today a deal being reached (if it hasn't already been reached). 3 months from now it come up again, but taxes start to roll in by then.