Another brave, do-or-die moment from the democratic party.

[Chairman Risus]

But raising it won't make the problem worse eventually?

[Eve]

Possibly, but eventually isn't right now so it's less of a concern?

^ I have no idea if that's true, just seems to be the way this country rolls.

[Disco Pickle]

"my account was hacked" is the new "the dog ate my homework" for dumb asses who send out picks of their junk and get caught.

Not only is he an idiot for doing it, but doing it wrong, and then lying about it for a week and assuming anyone with even average intelligence would believe that story.

I don't see why the Dems would WANT to be associated with the guy after all of that.

[Disco Pickle]

Possibly, but eventually isn't right now so it's less of a concern?

^ I have no idea if that's true, just seems to be the way this country rolls.

that line of thought is precisely the cause of the problems, and will continue to be for the foreseeable future.

[Precious Moments Zalgo]

But raising it won't make the problem worse eventually?

Yes, eventually, but the US has painted itself into a corner and the problem is going to get worse no matter what they do.  Defaulting on the debt is probably the worst out of several bad options.

I think the debt ceiling will be raised.  The Republicans will agree to raise it in exchange for the Democrats agreeing to some token spending cuts, everyone will go home to their constituents and say, "We did our best.  Re-elect us so we can finish the job.", and the extend-and-pretend game will continue.

[Cramulus]

Wait, one's called Boehner and the other Weiner??? Those shapeshifting reptiles need to fucking grow up.

Don't forget Bush, former VP Dick and the infamous Santorum.

Weiner / Boehner 2012
★ ★ ★ "Going balls deep for America." ★ ★ ★
PAID ADVERTISEMENT BY 3RD GRADERS FOR A FUNNIER TOMORROW

"my account was hacked" is the new "the dog ate my homework

WELL SAID

[Eve]

Possibly, but eventually isn't right now so it's less of a concern?

^ I have no idea if that's true, just seems to be the way this country rolls.

that line of thought is precisely the cause of the problems, and will continue to be for the foreseeable future.

But it's worked so well in the past!    Same sad people making the same sad decisions. Occasionally with fancy new names.

[Cain]

Depends if you want the Financapocalypse now or later.

If the US defaults, everything goes to shit, NOW.  Seen Greece?  Imagine that in a country with severe ethnic tensions, a polity influenced towards violence and lots of small arms.

If the US raises its debt ceiling, it allows the international shell game of global political economy to continue.  Beijing and Frankfurt have too much invested in DC, right now, to want any status quo changes.  And they will fight tooth and nail to maintain things this way.  But if the US cannot legally borrow...

Of course it's only putting off the day of reckoning.  But are any of you prepared for the above scenario starting August 3rd?  Doubt it.

[BabylonHoruv]

But raising it won't make the problem worse eventually?

Not if we actually start paying down the debt.  If we default on it that's really really bad for our economy.  Raising the debt ceiling gives us the option to pay it off.  If we go on to default later, yes, that is worse than defaulting now.

[Cain]

But raising it won't make the problem worse eventually?

Not if we actually start paying down the debt. 

HAHAHAHAHAHA.

[The Good Reverend Roger]

But raising it won't make the problem worse eventually?

Not if we actually start paying down the debt. 

HAHAHAHAHAHA.

What he said. 

[Cain]

The thing is, if the US defaults now, it is fucked.  If it defaults later, it is fucked.   The only real difference is when you do want to be fucked?

In my case, always later.  I have a headache now.  No fucking for me.

[Triple Zero]

"my account was hacked" is the new "the dog ate my homework

WELL SAID

Everybody knows you should open your half-finished MS Word .doc file in Notepad, bash some random characters in the header and here and there halfway through, in order to corrupt it, save it and send that in. Buys you at least another two days after the deadline.

Triple Zero,
sometimes wished he was born a few years later

Of course it's only putting off the day of reckoning.  But are any of you prepared for the above scenario starting August 3rd?  Doubt it.

OFUK

But being prepared in what way, for what situation exactly? Like the "Crazy Prepared" survivalist thread fending off hordes of screaming savages? Or just having as much savings as possible, in the right sort of valuta that'll be actually still worth something?

[Cain]

But being prepared in what way, for what situation exactly? Like the "Crazy Prepared" survivalist thread fending off hordes of screaming savages? Or just having as much savings as possible, in the right sort of valuta that'll be actually still worth something?

The immediate consequences would be the cost of borrowing money will rise.  This will put a squeeze on the middle and lower classes.  Along with rises in food prices, you rapidly enter an equation where people will be struggling to pay for basic essentials.

The next step will be riots.  Maybe Egypt style, but probably closer to Syria in style, given US social fragmentation, acceptable discourses of violence and availability of weapons.

It's not a given the US will actually default, the more I think about it.  But the cost borrowing will rise, and the US will have to pay off debts, which will in effect lead to the same kind of structual readjustment beloved of the IMF.  Not that this is necessarily a good thing.  The former Chief Economist of the World Bank can take you through the steps.

[Chairman Risus]

The thing is, if the US defaults now, it is fucked.  If it defaults later, it is fucked.   The only real difference is when you do want to be fucked?

In my case, always later.  I have a headache now.  No fucking for me.

So, what sort of things should someone do to prepare for this inevitable fuckery?