Barack Obama, our next President

"The road ahead will be long. Our climb will be steep," Obama cautioned. Young and charismatic but with little experience on the national level, Obama smashed through racial barriers and easily defeated ... Full Story
WAKE UP USA

Lillington, NC

#997630 Oct 8, 2013
Michael Snyder

October 8, 2013

A U.S. debt default would cause stocks to crash, would cause bonds to crash, would cause interest rates to soar wildly out of control, would cause a massive credit crunch, and would cause a derivatives panic that would be absolutely unprecedented. And that would just be for starters. But don’t just take my word for it. These are the things that top financial experts all over the planet are saying will happen if there is an extended U.S. debt default.
Because they are so close together, the “government shutdown” and the “debt ceiling deadline” are being confused by many Americans.
As I wrote about the other day, the “partial government shutdown” that we are experiencing right now is pretty much a non-event. Yeah, some national parks are shut down and some federal workers will have their checks delayed, but it is not the end of the world. In fact, only about 17 percent of the federal government is actually shut down at the moment. This “shutdown” could continue for many more weeks and it would not affect the global economy too much.
On the other hand, if the debt ceiling deadline (approximately October 17th) passes without an agreement that would be extremely dangerous.
And if the U.S. government is eventually forced to start delaying interest payments on U.S. debt (which could potentially happen as soon as November), that would be absolutely catastrophic.
Once again, just don’t take my word for it. The following are 12 very ominous warnings about what a U.S. debt default would mean for the global economy…
#1 Gerald Epstein, a professor of economics at the University of Massachusetts Amherst:“If the US does default, that will make the Lehman Brothers bankruptcy look like a cakewalk”
#2 Tim Bitsberger, a former Treasury official under President George W. Bush:“If we miss an interest payment, that would blow Lehman out of the water”
#3 Peter Tchir, founder of New York-based TF Market Advisors:“Once the system starts to break down related to settlement and payments, then liquidity disappears, as we saw after Lehman”
#4 Bill Isaac, chairman of Cincinnati-based Fifth Third Bancorp:“We can’t even imagine all the things that might happen, just like Henry Paulson couldn’t imagine all the bad things that might happen if he let Lehman go down”
#5 Jim Grant, founder of Grant’s Interest Rate Observer:“Financial markets are all confidence-based. If that confidence is shaken, you have disaster.”
#6 Richard Bove, VP of research at Rafferty Capital Markets:“If they seriously default on the debt, what we’re really talking about is a depression”
#7 Chinese vice finance minister Zhu Guangyao:“The U.S. is clearly aware of China’s concerns about the financial stalemate [in Washington] and China’s request for the US to ensure the safety of Chinese investments.”
#8 The U.S. Treasury Department:“A default would be unprecedented and has the potential to be catastrophic: credit markets could freeze, the value of the dollar could plummet, U.S. interest rates could skyrocket, the negative spillovers could reverberate around the world, and there might be a financial crisis and recession that could echo the events of 2008 or worse”
#9 Goldman Sachs:“We estimate that the fiscal pull-back would amount to 9pc of GDP. If this were allowed to occur, it could lead to a rapid downturn in economic activity if not reversed quickly”
#10 Simon Johnson, former chief economist for the IMF:“It would be insane to default, but it’s no longer a zero-percent probability”
#11 Warren Buffett about the potential of a debt default:“It should be like nuclear bombs, basically too horrible to use”
#12 Bloomberg:“Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.”
TheIndependentMa jority

Somerset, KY

#997631 Oct 8, 2013
DBWriter wrote:
<quoted text>
They could have nabbed him on his way to the grocery store. He wasn't in hiding. This is just another case where Obama needs a diversion and something to help promote the charade that he is fighting against terrorists and not having terrorists in the White House every day.
This terrorist was completely out of the loop. You can assume he's been retired for 15 years. The Al Qaeda leadership today has completely changed from when he was in the loop. There is no information of value we can get from him.
Send him to Kenya where they can hang him.
Wait...wait...in duh spirit of rights fer UNcivilized terrorist-send 'em all to Gitmo-gib 'em dey trials via technerlology, THEN send 'em back to they own nations fer hanging (or whatever the customary dark age, uncivilized procedure is).
TheIndependentMa jority

Somerset, KY

#997632 Oct 8, 2013
RealDave wrote:
<quoted text>
It is really stupid to be a registered Independent in a state with closed elections.
In regions heavily favored by Republicans or Democrats, the election is over with the primary.
Poor Duh A Vey, has yet to figure out that the stupid, no brainer part is the jackboot licking in herd pack lemming lines of "closed" primaries.

Truly Independent US citizen voters scoff at the patheticness of partisan bobbleheadness.

Duhmmy.
TheIndependentMa jority

Somerset, KY

#997633 Oct 8, 2013
DBWriter wrote:
<quoted text>
How about Harry Reid put those funding bills from the House on the Senate floor for a vote and let's get the government operating again.
The Democrats are holding the government hostage demanding ransom be paid to their Marxist welfare programs.
That really is the truth, bless your heart DB.
sonicfilter

Indianapolis, IN

#997634 Oct 8, 2013
Whatever wrote:
<quoted text>
LOL, I have a blog called "We Progressives"
What is in a name, it doesn't deceive.
yeah, like 'Tea Party'.
TheIndependentMa jority

Somerset, KY

#997635 Oct 8, 2013
RealDave wrote:
<quoted text>
No subsidy outside the exchanges.
If your compensation package get slashed, that is between you & your employer. Companies always had that option.
Shouldn't be ANY MOUNDS of givverment red tape subsidies at all DUHmmy...just an insert MARKET of affordable percentile PAYment rate plans for those who would choose to do so.

Stupid flkn' pack of mindless, beaurocraTIC, babbling marxist commie wankers.

“fairtax.org”

Since: Dec 08

gauley bridge wv

#997636 Oct 8, 2013
A drop of oil in a bath tub full of water.

NEW ORLEANS (AP)— For weeks after BP's massive 2010 oil spill in the Gulf of Mexico, people across the globe were captivated by a live video feed from underwater cameras that showed the company's blown-out well belching plumes of black crude into the water.

On Monday, more than three years later, clips from the spill cam were projected on a screen in a New Orleans courtroom while lawyers for BP and the federal government quarreled over how much oil gushed out of BP's Macondo well during the 87-day crisis. The images helped some of the scientists calculate how much oil polluted the Gulf.

Determining how much oil spilled is a multibillion-dollar question for U.S. District Judge Carl Barbier, who is presiding over the trial involving the deadly Deepwater Horizon rig explosion and the nation's worst offshore oil spill. The judge ultimately could decide how much more money BP owes for its role in the disaster.

Government experts estimate 4.2 million barrels, or 176 million gallons, spilled into the Gulf. BP has urged Barbier to use an estimate of 2.45 million barrels, or nearly 103 million gallons, in calculating any Clean Water Act penalties. Both sides agree that 810,000 barrels, or 34 million gallons, escaped the well but were captured before the crude could pollute the Gulf.

Under the Clean Water Act, a polluter can be forced to pay a maximum of either $1,100 or $4,300 per barrel of spilled oil. The higher maximum applies if the company is found grossly negligent, as the government argues BP should be. But penalties can be assessed at amounts lower than those caps.

Using the government's figures, a maximum penalty if the company is found grossly negligent could total $18 billion. Using the company's figures, that maximum penalty would be around $10.5 billion.

“Constitutionalis t”

Since: Dec 10

Spring, TX

#997637 Oct 8, 2013
RealDave wrote:
<quoted text>
If I get that condition, I am insured & will pay for it.
You could slip in the kitchen& break your spine. Or does your alternative health believes rule that out too.
I work for one of the largest oil companies in the world. We have what is called a "cadillac plan" by Obama.
This morning I learned that the top-level managers of the company, the President, CEO, COO and CFO, are discussing a plan to completely eliminate the health insurance benefit given to employees because of ObamaKare.
Speaking as someone who worked their entire life to get into one of those "cadillac plans", I want that Marxist welfare program to disappear. I don't care what it takes to make it disappear. Just make it disappear. I don't care how it happens. Just make it happen.
TheIndependentMa jority

Somerset, KY

#997638 Oct 8, 2013
RealDave wrote:
<quoted text>
You left out "At this time we think" " Subject to change as information comes in"
Dumbass.
Translate, lying out one side of mouths (about thinking-hahahaha lol), while trying to cover the truth with the dribble flowing out of the other.

Duhmmy.
TheIndependentMa jority

Somerset, KY

#997640 Oct 8, 2013
sonicfilter wrote:
<quoted text>
yeah, like 'Tea Party'.
Don't be touching OUR years of contributions-democRAT parasite.
sonicfilter

Indianapolis, IN

#997641 Oct 8, 2013
Megyn Kelly To Cruz:'What's It Like To Be The Most Hated Man In America?'

"All right, so now answer the question," Kelly said.

"Look, I think there have been more than a few Democrats who are throwing rocks my direction and to quote the Bard,'Methinks she doth protest too much,'" Cruz said.

"They are throwing every insult they can but the reality is most Americans don't care about politicians bickering," he continued. "They're looking for people to solve the problems. What we need to do right now is what the House of Represenatives are doing. The House of Representatives is passing bills to fund vital priorities of government and unfortunately President Obama and the Senate Democrats are refusing to negotiate. They're refusing to pass bills."

In fact, the Senate did pass a continuing resolution to fund the government but that bill did not undermine the Affordable Care Act, a sticking point for Cruz and other tea partiers. House Speaker John Boehner (R-OH) insists that the Senate bill could not pass the lower chamber, despite media reports to the contrary.

http://talkingpointsmemo.com/livewire/megyn-k...

'We'll act like we're funding everything(so we can lie to the voters and tell them we're doing SOMETHING!) if you give us everything we want which we know you'll never do!'

sorry GOP, you lost the election. you get nothing. figure out how to win an election, quit your crying, and let the government get back to doing what it does just fine without any help from you.

“Constitutionalis t”

Since: Dec 10

Spring, TX

#997642 Oct 8, 2013
flack wrote:
A drop of oil in a bath tub full of water.
NEW ORLEANS (AP)— For weeks after BP's massive 2010 oil spill in the Gulf of Mexico, people across the globe were captivated by a live video feed from underwater cameras that showed the company's blown-out well belching plumes of black crude into the water.
On Monday, more than three years later, clips from the spill cam were projected on a screen in a New Orleans courtroom while lawyers for BP and the federal government quarreled over how much oil gushed out of BP's Macondo well during the 87-day crisis. The images helped some of the scientists calculate how much oil polluted the Gulf.
Determining how much oil spilled is a multibillion-dollar question for U.S. District Judge Carl Barbier, who is presiding over the trial involving the deadly Deepwater Horizon rig explosion and the nation's worst offshore oil spill. The judge ultimately could decide how much more money BP owes for its role in the disaster.
Government experts estimate 4.2 million barrels, or 176 million gallons, spilled into the Gulf. BP has urged Barbier to use an estimate of 2.45 million barrels, or nearly 103 million gallons, in calculating any Clean Water Act penalties. Both sides agree that 810,000 barrels, or 34 million gallons, escaped the well but were captured before the crude could pollute the Gulf.
Under the Clean Water Act, a polluter can be forced to pay a maximum of either $1,100 or $4,300 per barrel of spilled oil. The higher maximum applies if the company is found grossly negligent, as the government argues BP should be. But penalties can be assessed at amounts lower than those caps.
Using the government's figures, a maximum penalty if the company is found grossly negligent could total $18 billion. Using the company's figures, that maximum penalty would be around $10.5 billion.
What part of it is the government liability because they obstructed all the normal actions that would control the well and prevent BP from re-entering the well to execute normal blowout control procedures?
That well should have been controlled in three weeks or less. My estimate was two weeks. Some of my fellow experts have said as little as 10 days, and others say as long as 3 weeks. I have not heard any well control expert give any estimate of longer than 3 weeks.
Why did the government not allow the normal well control procedures to be executed?
Is this related to Obama waiting until the oil to cover some beach, which never happened, so he could do a photo op, and the entire country got tired of Obama waiting for his photo op opportunity and had to rush down to the scene to make it look like he was actually involved?
sonicfilter

Indianapolis, IN

#997643 Oct 8, 2013
DBWriter wrote:
<quoted text>
I work for one of the largest oil companies in the world. We have what is called a "cadillac plan" by Obama.
This morning I learned that the top-level managers of the company, the President, CEO, COO and CFO, are discussing a plan to completely eliminate the health insurance benefit given to employees because of ObamaKare.
Speaking as someone who worked their entire life to get into one of those "cadillac plans", I want that Marxist welfare program to disappear. I don't care what it takes to make it disappear. Just make it disappear. I don't care how it happens. Just make it happen.
i seriously doubt you 'learned' it.

more like you 'found' it on a right wing conspiracy theory site that sent you an 'ALERT!'.

i bet you nutjobs live for that shit.'Refresh, refresh, refresh, oh God please a new alert!'
sonicfilter

Indianapolis, IN

#997644 Oct 8, 2013
TheIndependentMajority wrote:
<quoted text>
Don't be touching OUR years of contributions-democRAT parasite.
contributions? wha?

if you live in a redstate i'd like some of mine back. beyond that you probably shouldn't mention the train wreck.

“Constitutionalis t”

Since: Dec 10

Spring, TX

#997645 Oct 8, 2013
RealDave wrote:
<quoted text>
No subsidy outside the exchanges.
If your compensation package get slashed, that is between you & your employer. Companies always had that option.
The companies didn't change. The only change was that Marxist welfare program ObamaKare.
Everything was fine until ObamaKare.
Now, after ObamaKare, those same companies that didn't change before ObamaKare are eliminating the health care benefit.

By the way, those health care benefits will be taxed, thanks to ObamaKare. Every person who receives a health insurance benefit from their company will pay more taxes with no increase in income.

Get rid of this Marxist welfare garbage. I don't care what needs to be done to get rid of it. Just get rid of it.

“Constitutionalis t”

Since: Dec 10

Spring, TX

#997646 Oct 8, 2013
sonicfilter wrote:
<quoted text>
i seriously doubt you 'learned' it.
more like you 'found' it on a right wing conspiracy theory site that sent you an 'ALERT!'.
i bet you nutjobs live for that shit.'Refresh, refresh, refresh, oh God please a new alert!'
To repeat:

I work for one of the largest oil companies in the world. We have what is called a "cadillac plan" by Obama.
This morning I learned that the top-level managers of the company, the President, CEO, COO and CFO, are discussing a plan to completely eliminate the health insurance benefit given to employees because of ObamaKare.
Speaking as someone who worked their entire life to get into one of those "cadillac plans", I want that Marxist welfare program to disappear. I don't care what it takes to make it disappear. Just make it disappear. I don't care how it happens. Just make it happen.
sonicfilter

Indianapolis, IN

#997647 Oct 8, 2013
$10 Million Donation Will Reopen Shuttered Head Start Programs

http://talkingpointsmemo.com/livewire/10-mill...

so Congressional millionaires.....

'But we're trying fool the people into thinking we're doing something! So why shouldn't I get paid!?'
sonicfilter

Indianapolis, IN

#997648 Oct 8, 2013
The GOP’s Ongoing Absurd Predicament

Republicans are stuck with insurgents that want the impossible and leaders that don’t know what’s going on in their own party, and together they have created a situation in which all of them appear to have no idea what they’re doing. No wonder one recent poll found Republicans trailing by 9 points on the generic House ballot.

http://www.theamericanconservative.com/lariso...
sonicfilter

Indianapolis, IN

#997649 Oct 8, 2013
DBWriter wrote:
<quoted text>
To repeat:
I work for one of the largest oil companies in the world. We have what is called a "cadillac plan" by Obama.
This morning I learned that the top-level managers of the company, the President, CEO, COO and CFO, are discussing a plan to completely eliminate the health insurance benefit given to employees because of ObamaKare.
Speaking as someone who worked their entire life to get into one of those "cadillac plans", I want that Marxist welfare program to disappear. I don't care what it takes to make it disappear. Just make it disappear. I don't care how it happens. Just make it happen.
pure BS. probably a right wing email that will show up on the fact checking sites with a big red FALSE all over it.

“Constitutionalis t”

Since: Dec 10

Spring, TX

#997650 Oct 8, 2013
RealDave wrote:
<quoted text>
You left out "At this time we think" " Subject to change as information comes in"
Dumbass.
And for two weeks Obama repeated that lie. The president of Libya was telling the world it was an Al Qaeda attack on the US, and Obama continues to lie and blame it on some spontaneous demonstration that obviously never happened... well, obvious to anyone who watched the real-tiem video, like the White House.
It was discovered by the president of Libya that it was an Al Qaeda attack that was planned before the video even existed, and Obama continues to lie.

Why do you wonder why the world thinks Obama and the entire country here is fullofshit? Do you think it's because it's obvious to the entire world that Obama and this entire administration are pathological liars and you can't believe anything that comes out of their mouths?

Why does Baghdad Bob have more credibility in the world than Jay Carney?

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