Saturday, July 9, 2011

Default?

  • Pat Buchanan says that "the establishment that is resorting to extortion, saying, in effect, to the House GOP: Give us the new taxes we demand, or Obama will veto the debt ceiling and we will all blame you for the default" — An Establishment in Panic.

  • "A great default is behind us," says Gary North; "The public is unaware of this" — On the Road to Government Default. "If you read this report, you will no longer be unaware of it."

  • "As Gary North has noted, the great 21st century default of the U.S. government has already started," explains Karen Kwiatkowski, "with the raiding of federal pension funds to stay solvent a few months ago" — Metaphors for a Post-Federal America.

  • "They’ve raised the ceiling 93 times since they first imposed a debt ceiling 94 years ago," reminds Bill Bonner, suggesting "they’ll continue borrowing and spending until the nation goes broke" — Imperial Suicide.
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    8 Comments:

    Blogger Scott said...

    Don't worry, they won't default on any of the money they've promised to pay for military spending.

    11:40 AM  
    Blogger The Western Confucian said...

    Of course not. On some things, there is bipartisan agreement.

    12:01 AM  
    OpenID danightman said...

    The post-Federal era sounds more like a centralized Ampirium than the distributed republic of our Founders.

    1:04 AM  
    Blogger Scott said...

    With all the reports of gloom and doom coming out of the States, are you sure you want to go back?

    9:49 PM  
    Blogger The Western Confucian said...

    I do at times have my doubts. We'll leave most of our savings here.

    10:02 PM  
    Blogger love the girls said...

    Since you're coming back to work for the government, you look financially safe enough to me.

    As they write over on Lew Rockwell, it all comes down to coercion and guns, and being on the side who has them.

    Which now that I think about, is perhaps why virtually everyone over there does work for the government, they know better than most which is the winning side. And that's far safer to make bold pronouncements against the man while in his service doing his bidding.

    10:32 PM  
    Blogger The Western Confucian said...

    I'll be working for a private university.

    6:16 AM  
    Blogger love the girls said...

    Well, in that case, "with all the reports of gloom and doom coming out of the States, are you sure you want to go back?"

    9:39 AM  

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