The coming Global Economic Collapse

[TexasTiger 12,949]

When these reckless Republicans control the House. Planned Investigations? Mostly a waste of time & money. The real kicker? Skyrocketing interest payments on our $31T existing debt. Financial disaster in the making. This may wreck the global economy. They’re willing to collapse our economy to cut Medicare & Social Security.

https://www.washingtonpost.com/opinions/2022/10/18/gop-debt-ceiling-plan-financial-crisis-recession/

[autigeremt 6,643]

Bipartisan destruction of the United States. 

[Cardin Drake 1,834]

We are in a no win situation no matter who is in control thanks to lots of reckless spending over the last 20 years by both parties. I mean, the asswipes won't even pass a budget anymore. They just pass a CR and everyone continues spending what they like.   The fed is raising interests rates to control inflation but we can't afford the higher interest expense without significantly raising the deficit, which also causes more inflation.  Thanks republicans and democrats. How about handing the checkbook over to somebody more fiscally responsible, like a pack of drunken sailors.

[homersapien 11,388]

On 10/19/2022 at 11:36 PM, autigeremt said:

Bipartisan destruction of the United States. 

There's nothing "bipartisan" about this.  Read the link.

[autigeremt 6,643]

2 minutes ago, homersapien said:

There's nothing "bipartisan" about this.  Read the link.

The hell there isn't! The debt alone is a bipartisan time bomb....not to mention every other issue this country is facing. Own it! 

[TexasTiger 12,949]

Just now, autigeremt said:

The hell there isn't! The debt alone is a bipartisan time bomb....not to mention every other issue this country is facing. Own it! 

Debt is bipartisan, although if you look at its explosion over 40 years you see it clearly tied to Republican President’s tax cuts, mostly for the well off. If you read this particular article, though, the issue it presents is threatening default. That’s on Republicans. 

[homersapien 11,388]

6 minutes ago, autigeremt said:

The hell there isn't! The debt alone is a bipartisan time bomb....not to mention every other issue this country is facing. Own it! 

So you think destroying the position of the U.S. dollar as the world's reserve currency in one fell swoop (by not increasing the debt ceiling) is going to address the problem?

This is what Republicans are proposing to do.

 

Edited October 24, 2022 by homersapien

[Cardin Drake 1,834]

The Republicans are posturing in an act of political theater in an attempt to portray themselves as fiscal conservatives. When they are done play acting, both parties will continue spending as if it never happened.  Nobody's going to default.  Zero hedge has a nice article summing up the current situation today: "There Is Too Much Debt In The World, So They Must Inflate It Away, Which They Will. That's The Only Thing You Need To Know"

[aubiefifty 16,807]

funny you guys mention this and the repubs want to continue trumps 3.1 trillion to the rich again. and they also appear to be wanting to cut social security as well. not sure if it will cut those benefits for those not getting a check yet and grandfathering in the folks that have been on it a while.

[autigeremt 6,643]

1 hour ago, homersapien said:

So you think destroying the position of the U.S. dollar as the world's reserve currency in one fell swoop (by not increasing the debt ceiling) is going to address the problem?

This is what Republicans are proposing to do.

 

I think it's all a bunch of BS. More of the same....political theater. Amazing how our country is run in DC while main street continues to comb our way through life with increasing prices and economic malaise. 

[icanthearyou 4,463]

Don't tax and spend is just not a good idea in the long run.

Narrowing the economy was never a good idea.

The destruction of organized labor was/is a disaster.

Creating a communist rival in China was never a good idea.

The de-industrialization of America was never a good idea.

[homersapien 11,388]

18 hours ago, autigeremt said:

I think it's all a bunch of BS. More of the same....political theater. Amazing how our country is run in DC while main street continues to comb our way through life with increasing prices and economic malaise. 

Trust me.  If the U.S. demonstrates to the rest of the world we are willing to renege on our debts, Main Street will feel the effects.

 

[pensacolatiger 313]

On 10/19/2022 at 3:42 PM, TexasTiger said:

When these reckless Republicans control the House. Planned Investigations? Mostly a waste of time & money. The real kicker? Skyrocketing interest payments on our $31T existing debt. Financial disaster in the making. This may wreck the global economy. They’re willing to collapse our economy to cut Medicare & Social Security.

https://www.washingtonpost.com/opinions/2022/10/18/gop-debt-ceiling-plan-financial-crisis-recession/

I’m neck deep in what’s happening on Wall Street right now.  I typically lean to the right, but I can tell you for a fact the biggest villains in the economic situation are on both sides of the aisle.  I give you guys slot of crap about the left, but there are some nefarious mofos involved right now.

right now there is a much bigger risk to us and it’s the continuous counterfeit shorting that’s killing everyone’s investments, 2,200 companies to be precise.  Hedge funds and banks got greedy and are on the verge of global collapse from doubling down too often on negative bets.  We’ve never seen the kind of collapse that’s going down in the next two months, when the dollar fails it won’t even be news compared to what’s about to happen 

[Cardin Drake 1,834]

5 hours ago, pensacolatiger said:

I’m neck deep in what’s happening on Wall Street right now.  I typically lean to the right, but I can tell you for a fact the biggest villains in the economic situation are on both sides of the aisle.  I give you guys slot of crap about the left, but there are some nefarious mofos involved right now.

right now there is a much bigger risk to us and it’s the continuous counterfeit shorting that’s killing everyone’s investments, 2,200 companies to be precise.  Hedge funds and banks got greedy and are on the verge of global collapse from doubling down too often on negative bets.  We’ve never seen the kind of collapse that’s going down in the next two months, when the dollar fails it won’t even be news compared to what’s about to happen 

Tell us more...

[pensacolatiger 313]

13 hours ago, Cardin Drake said:

Tell us more...

I’ll try giving the short version.  When COVID was kicking off, the FED printed a mess of money and was giving it away for almost nothing.  The intent was to keep the market up by providing banks and hedgefunds with it.

The problem was, these banks and hf’s figured out they could use the money to place “bets” on the market souring (buying puts).  Over the last two years, things have gone downhill (covid, inflation, supply, wars, etc) so when these bad actors saw an excuse, they kept betting on the market getting worse.  And when they ran out of shares to short, they created counterfeit shares to further drive the market down and continue their money making spree.

The problem is when you create a counterfeit share (which is illegal), you eventually have to buy a real share to “close it” and not get fined by the SEC.  If these bad actors continued this behavior with businesses that would eventually go bust, they’d never have to close and profit on the business demise.  A group of investors have identified this behavior and stepped in to prop up these struggling businesses and hold the bad actors accountable.  
 

Now, the market is showing signs of trying to recover, but the bad actors are so oveeleveraged they can’t cover what they owe.  5 major hf’s and 2 banks have/are collapsing and more are coming.  The SEC and DOJ know what’s happening but aren’t stepping in because they don’t want to be seen intervening in the middle of a collapse.  
 

I’m part of the investor group propping up these companies.  I’ve been up ridiculous amounts, down ridiculous amounts, and have no idea if I’ll win.  But if we do win, we get to kill a demonic force in the market and the money will just be a sweet bonus

[arein0 967]

11 hours ago, pensacolatiger said:

I’ll try giving the short version.  When COVID was kicking off, the FED printed a mess of money and was giving it away for almost nothing.  The intent was to keep the market up by providing banks and hedgefunds with it.

The problem was, these banks and hf’s figured out they could use the money to place “bets” on the market souring (buying puts).  Over the last two years, things have gone downhill (covid, inflation, supply, wars, etc) so when these bad actors saw an excuse, they kept betting on the market getting worse.  And when they ran out of shares to short, they created counterfeit shares to further drive the market down and continue their money making spree.

The problem is when you create a counterfeit share (which is illegal), you eventually have to buy a real share to “close it” and not get fined by the SEC.  If these bad actors continued this behavior with businesses that would eventually go bust, they’d never have to close and profit on the business demise.  A group of investors have identified this behavior and stepped in to prop up these struggling businesses and hold the bad actors accountable.  
 

Now, the market is showing signs of trying to recover, but the bad actors are so oveeleveraged they can’t cover what they owe.  5 major hf’s and 2 banks have/are collapsing and more are coming.  The SEC and DOJ know what’s happening but aren’t stepping in because they don’t want to be seen intervening in the middle of a collapse.  
 

I’m part of the investor group propping up these companies.  I’ve been up ridiculous amounts, down ridiculous amounts, and have no idea if I’ll win.  But if we do win, we get to kill a demonic force in the market and the money will just be a sweet bonus

Please tell me you're not part of WSB

[pensacolatiger 313]

I do have some overlap with some of their bets

[CoffeeTiger 5,133]

12 hours ago, arein0 said:

Please tell me you're not part of WSB

He's balls deep in Gamestop options as we speak. 

[autigeremt 6,643]

On 10/25/2022 at 10:58 AM, homersapien said:

Trust me.  If the U.S. demonstrates to the rest of the world we are willing to renege on our debts, Main Street will feel the effects.

 

No doubt about it but...don't tell me it's one parties fault. They both have blood on their hands and it's not even up for discussion unless you are a partisan ideolog. Our political leadership has put us in a huge bind. 

[homersapien 11,388]

33 minutes ago, autigeremt said:

No doubt about it but...don't tell me it's one parties fault. They both have blood on their hands and it's not even up for discussion unless you are a partisan ideolog. Our political leadership has put us in a huge bind. 

You don't need to be a partisan ideologue to simply accept what McCarthy is telling us what he intends to do as speaker:

https://www.washingtonpost.com/politics/2022/10/18/mccarthy-gop-medicare-social-security/

GOP to use debt limit to force spending cuts, McCarthy says

House Minority Leader Kevin McCarthy (R-Calif.) said that if Republicans win control of the House the GOP will use raising the debt limit as leverage to force spending cuts — which could include cuts to Medicare and Social Security — and limit additional funding to Ukraine.

--------------------

And keep in mind the debt limit concerns spending that congress has already committed to.

This is no different from a suicide bomber blackmailing the country with the threat of killing us all.  (And there's only one person - or party - donning the explosive vest.)

Your right that both parties are perhaps equally responsible for our fiscal condition, but threatening to blow everything up is not the way to improve the situation.

IMO, it would be far better to compromise on a combination of spending cuts and increasing taxes than to blow up the country.  That's assuming we really must do something about it.

(At least if McCarthy gets his way, the political backlash in 2024 will be severe.  Cuts to SS and Medicare - along with further tax cuts for the wealthy and corporations - will perhaps finally burst the myth that Republican policies are actually populist.)

Edited October 27, 2022 by homersapien

[pensacolatiger 313]

21 hours ago, CoffeeTiger said:

He's balls deep in Gamestop options as we speak. 

No gme, but I do think it will pop.  100M shares shorted appeared out of thin air last night as CS was getting gutted

[CoffeeTiger 5,133]

17 minutes ago, pensacolatiger said:

No gme, but I do think it will pop.  100M shares shorted appeared out of thin air last night as CS was getting gutted

Yeah, I'm sure GME is old news at this point. I haven't paid attention to WSB in some time

[pensacolatiger 313]

10 minutes ago, CoffeeTiger said:

Yeah, I'm sure GME is old news at this point. I haven't paid attention to WSB in some time

As of last night, a lot of people are watching very closely