Saturday, July 16, 2011

Jay Lacklen: Courting economic disaster

Jay Lacklen

The fast approaching Congressional Debt Ceiling deadline is playing out as a slow motion train wreck, one that has perhaps a fair chance of becoming a full blown economic train wreck.

While there is blame on both political parties, I am again aghast at the current methods of the Republican Party I spent 30 years within.

Using the debt ceiling increase as a political hostage is profoundly irresponsible. While Republicans control only one House of Congress, they demand they be able to completely dictate the conditions of the debate. Ordinarily you need a voting majority to do this. By holding this debt vote hostage, they seek to extort their desires instead of winning them in a vote. One Republican Senator, Rand Paul of Kentucky, has threatened to filibuster any vote to raise the ceiling so it will fail.

More Here..


  1. Default (no money for you)....


  3. last check..the House controls origination of spending bills. They DO have the authority to do EXACTLY what is being done. Of course you dont like it...youre a liberal loser.

    Soon, spending questions will be taken off the table when the US isnt the world reserve currency or unless we are 100% energy sufficient.

    The former is likely to happen before the latter. Inthe former scenario oil will be priced out of reach. Think things are expensive now?

    cut government spending and taxes AND defense spending. maybe with the extra money some risk takers will want to start businesses and employ people.

  4. Er , this is politics right?

  5. Lets crash it and FORCE them to make the proper cuts...It will only be worse if we keep kicking the can down the road.

    Ever wonder what would happen in the future if the dollar crashes and troops couldn't get home?

    When the USSR fell it just collapsed...Leaving millions of Russians floundered all over the place...Can any of you imagined what would happen with all the troops and families stuck all over 120+ countries in 1000+ bases around the world?

    This crash will help downsize...Hopefully trim the fat...Otherwise we're f*cked.

  6. 3:43,

    the only problem is the jobs they want to create are completely worthless. We do not need anymore cashiers, cars or car salesmen, janitors, waitresses, teachers, cops, soldiers, secretaries, home builders or houses, toy stores, hair dressers... pretty much most of what "job growth" would sadly mean.

    We can't start recovering until those things which stand as obstacles within the US are eliminated; the dollar, debt and credit system, banks, Wallstreet, Hollywood, Howard Stern type entertainment, the Department of Education, drug dealers, the state taking the place of fathers in the household thanks to pop culture slaughtering MANhood and the self esteem of girls, and perhaps reset the government.

    Obviously nothing like that will ever happen. Steadily everything will keep getting more expensive as our fiat currency is wasted. People will keep getting dumber, riots and disasters will be norm, and everyones frustration will get hotter as more people attempt to sway the collective mind to their will and blame this and that.

    Americans are largely satisfied as long as their television still works. When, if, (hopefully) shit hits the fan we will be able to employ people based on their actual skills and abilities.

    The fake capitalism we use is not capitalism, in capitalism products and services should sell for what they are actually worth. This nation (and world) is flooded with scams and con artists who control the masses with mere advertisements.

    Other examples would be how employers are often dumber than their employees, or certain teenagers are far more intelligent than their burnout counterparts but are still given the same tasks for the same pay.

    Older workers (anybody over 30) who need hours are not given these hours but are maxed at 40 per week if they're lucky. And even the managers have to go through endless paper work in hiring or firing someone.

    But really, we have far too many retail stores in this country and a shortage of manufacturing. All our fruits and vegetables seem to come from South America too. Could you imagine a similar scenario playing out with our food like 5:15 mentions about soldiers? We would probably have few sources of vitamins! (Not that Americans take vitamins to begin with...)

  7. 5:15 U R RIGHT ON!!!!

  8. Blue smoke and mirrors

    I absolutly guarantee you the debt ceiling will
    be raised



    Next important issue ?

  9. Banking elite families run banking. Banking and corps run our fascist gov. We are 50x more a fascist government than Italy in the 40s.

    We are the most deluded and deceived populace in human history. We are done.

  10. Earlier generations were so much better than us.

    We are great glorified parasites.

    Girls were girls and men were men. Mister we could use a man like Herbert Hoover again.

  11. Exactly, 7:54. The charade will continue until the economy inevitably collapses. Events like this are just harbingers.

  12. “Ever wonder what would happen in the future if the dollar crashes and troops couldn't get home?
    Asks 5.15

    So we can ponder the sad fate of USA troops abandoned in the wilds of tribal Afghanistan the deserts of Libya etc.etc

    The War Department now called Defence ,the empire , is sacred , so lets rally round and pass the budget to support our boys is it seems , the latest patriotic scare threat to support money printing of Empire bailout money !

    The War Department now called Defence ,the military backed empire , is sacred , so lets rally round and pass the budget to support our boys is it seems , the latest patriotic scare threat to support money printing of Empire bailout money !

    “Can any of you imagined what would happen with all the troops and families stuck all over 120+ countries in 1000+ bases around the world?”

    Yes the costly list of wars and empire bases for wars against the poor third world is huge.

    Perhaps The fate of Zenophon and ancient greek mercenaries after losing their paymaster?

    “The mercenaries, known as the Ten Thousand, found themselves without leadership far from the sea, deep in hostile territory near the heart of Mesopotamia. They elected new leaders, including Xenophon himself, and fought their way north through hostile Persians and Medes to Trapezus on the coast of the Black Sea. They then made their way westward back to Greece.

    Wake up !
    You Patriotic flag-waver on old Dildo -flagpole wanker man!!

    In case you have not noticed the dollar value is already crashing in a sea of past printed /digitaly created money debts.

    Deficit spending ,paying for wars and the military industrial complex to support the dollar hegemony empire system and Ponzi economics banksters bankrupted the US government with bailouts.

    The government guaranteed Freddie and Fredie housing bubble is popping and more money printing /deficit spending only more quickly destroys the value of the dollar itself ,as the US Treasury in a scam with the privately owned profit Central bank, is increasingly forced to buy up its own money debt paper.

    That will not end well as the Ponzi party dies .
    But, If you are really concerned about the welfare of lost and abandoned troops left without their fare home , its time to bring them home NOW before the dollar completely crashes .
    Not later when it is to late.

    But, if you trust in the dollar and patriotically believe in the need for empire printing of even more counterfeit money for endless war costs CIA and troops ,buy some Treasury …AKA war/ victory… bonds. Put your own money where your mouth is to support the troops and collect some dividends paid in increasingly devalued fiat dollars if you wish.. but please spare us the ‘patriotic support the poor troops’ scare mongering as an excuse for counterfeiting more money for endless spending on wars.

  13. No shit. If the collapse here meant we couldn't continue to kill and oppress millions around the globe that would be nice. Too bad we didn't expire before the hundreds of thousands of Iraqi women and children had to die gruesome deaths.

  14. 2:00 and 2:14...Read again...I want it to crash so we're forced to cut and bring them home...If it does crash it will happen in parts meaning that things will have to shrink and shrink...As it gets bad in the US troops will have to be brought back as all that Iraq/Afghanistan BS becomes secondary to riots and loss of control here.

    Basically in order for the US to get back on track you have to jolt the system...Too many parasites and idiots thinking we can continue how we are...Sometimes an ass kicking is what people need to change and reflect.

  15. We're BORROWING 40 % of every dollar we spend. Wrap your brain around that; the interest payments alone are eating up a huge portion of our revenues; so they want MORE "revenues" from higher taxes so they can spend more, more, more. We've got to pay the piper; the dance is over. It's time to stop spending. The EPA alone is responsible for huge waste; there is plenty to cut. But reforming the tax code to end loopholes ALSO means ending the mortgage deduction. The truth is, no one is gonna like what's coming. But it IS coming, whether we like it or not. We can no longer afford to feed the leviathan:

    "For 50 years, the federal government has grown at a sickening rate. Whether Republicans or Democrats run the White House, Washington’s establishment always gets its way — bigger budgets, bigger deficits and higher taxes.

    In 1980, the annual budget was $590.9 billion. By the beginning of the next decade, the yearly budget was $1.253 trillion. In 2000, the budget was up to $1.789 trillion in annual outlays, and by 2010, it was up to $3.456 trillion.

    After a decade of Obama’s budgets, the CBO projects our annual budget will explode to $5.451 trillion in 2020."

  16. Again: Federal Debt cannot grow faster than GDP on an intermediate and long term basis. But it has. This is the cause of the problem. Keynes argued for deficit spending during recessions, but for increased taxes and reduced spending during growth, thereby acting as a counter-cyclical force and drawing down the debt to prevent the exponential runaway. Our government has continually done the first, ignored the second, and backed itself into a corner. The mathematics in the spreadsheet from yesterday are now asserting themselves, and we do not have ten years, and may not have five, to solve this problem. We must solve the problem now, but there is no political will on either side of the aisle to do so.

    Brace for impact folks.

  17. A brief history of Obama's fiscal record:

  18. If you don't try to fix this problem when the debt ceiling is reached then WHEN??? This is the only time there is any leverage. The problem is a spending problem not a revenue problem. So spending MUST be cut. In the past congress has promised to to cut spending if we allowed them to increase taxes at the same time and all we ever got were the tax increase. The increase in the debt ceiling MUST be held hostage. Our existence and our future are at stake.

  19. If not now, then when? This has to be fixed and now is as good a time as any, maybe better.

  20. I have to laugh at the sheeple comments about what 'we' should do.

    "We" have ZERO say on what is done.

    "We" are not free.

    "We" do not live in a democracy or Republic. We live in an Oligarchy.

    The elite euro banking dynasties decide, not the lowly sheeple. So, stop saying we should do this or we should do that. It is very ignorant and vain.

  21. 3:11 Oh really? What should WE do - stay home and lock ourselves in the closet? Fuck you and your Oligarchy; seems to me some brave souls that founded this country were sheeple and faced the very same oppression.
    What comes around, goes around and NOTHING stays on top forever NOTHING ! The meek will inherit the earth and their time -----------

    She's acomin' - so you sit in your closet and bemoan those nasty Rothchilds and Bilderbergers
    meanwhile, we are letting our little squeeky
    voices be heard the best way we can - at least we're doing something - which is more than I can say for you

  22. yeah but "they" under paid, unemployed poor, will still have their cell phones ( and the bills) still have their HBO/shotime (and the bill) still have their DSL or High speed cable ISP ( and bill) still line up for those new Iphones/Ipads (and the bill)

    and don't tell me cell phones are "cheap" they always require adding more min weather you use them or not and in time can add up ( more bills) a "cheap" cell peoples phone would be a cell phone with NO expering min, and you only add min when you run out, NO time limits period.

    I remember seeing a line around the block in one of them states FL I think of people waiting to get the chance to buy a 1 bed 1 bath condo for 350K, man more of those poor I guess.

    its always a pain to see the same talking headfs on those financial shows still making their 7 figure incomes talking all this "how bad the economy" is shit, and the metal heads that talk about shinning their shinny yellow and white metal hord. must be some poor people

    when I see EVERY body scrapping bark off trees than I'll know its bad for EvERY body

  23. the more we solve debt problems by taking on more debt..the better we'll work-when it works...besides-we can just nuke someone and take what we want, we america, never fall. have actually heard that from average joe, asked them-u serious, nuke someone even?-their answer, yes.

    heard they stopped reinvesting the ESF..interesting.
    see the yen is rising again, something to watch, a harbinger? G7 stepped in to weaken it few months ago, short life span actions have now a day's.
    if defaults start in greece, may expect others in line, UK and US eventually, how much time will the opening be to extract any cash from bank before window of time is closed or daily withdraw restrictions are implaced for some months? revaluation and exchange some day? would such be something new, something unheard of?
    even more interesting is given what can be seen and happened, and happening worldwide and historically, many believe one way about the course, and others another. always belief. depending on ours we'll act accordingly.

  24. 4:42, a slave but too deluded to know it. The only course of action now is take care of #1. The country is lost and because of what it has turned into it isn't worth saving anyway.

  25. perhaps it is not worth saving and the country is lost because a debt crisis was created by individualist americans taking care of #1
    especialy banksters working the system?

    You intend in the future to continue more of ther same .
    Stuff social values an look after number #1 in the american way and tradition?


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