Debt Ceiling Deal - How Things Just Got Worse

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#1 Wed, Oct 16, 2013 - 7:01pm
Joined: Oct 19, 2011

Debt Ceiling Deal - How Things Just Got Worse

All over but the crying on the debt ceiling and government shutdown showdown, and there are two prevaling conventional wisdoms, both of which are wrong:

1. The Republicans and Tea Party in particular "lost" because they picked a fight they couldn't win from the start, and they have done damage to their "brand." This is the MSM view.

2. At least the Tea Party did something. The Republican Party has utterly failed to stop the march toward socialism over the past 50 years in this country and the Tea Party is at least trying to stop it. Brit Hume proposed this today.

No one will remember this fight when it matters, or where it matters. No politician will lose their seat over this. The Tea Party candidates are safe in their dark red districts, and whomever the Rs nominate will not come from that wing of the party anyway. George W. Bush didn't suffer in 2000 from Newt Gingrich's similar antics.

It is also not correct to say that this exercise didn't do damage - it certainly did - to the prospect of actual controls on spending. Obama now has virtually no incentive to negotiate a budget deal, because a second shutdown is not realistic. The Tea Party tactics ensured two things: (1) we will keep spending in the near term; and (2) we will keep spending until we run out of money.

Edited by: Subotai on Nov 8, 2014 - 5:01am
Tue, Oct 22, 2013 - 3:05pm
Joined: Jun 14, 2011

RE: Run Out of Money

Subotai, we are already out of money. We will keep spending till the economy collapses. The economy will collapse when Bernanke or his heirs or assigns stand in front of a microphone and says, "Taper!"


Tue, Oct 22, 2013 - 3:15pm
Horseshoe Bay, TX
Joined: Jun 14, 2011

Panama Banks


We don't know if this is significant or not.

The HSBC bank of Panama announced from Friday October 25th at 5pm until Monday October 28th at 8am,

HSBC branches, HSBC Insurance and Financomer will not provide service to the public,

this being the last operation of the bank in Panama.

According to HSBC, their commitment is to make the transition to Banistmo a transparent process for the

general public, this is why they timely reported about certain actions to be performed by the bank.

Online banking will be disabled from October 25th at 10pm until Sunday October 27th in the morning.

"Beginning on Monday October 28th, Banistmo will continue to service HSBC channels, the

conditions of their products and services and the relationship they currently have with the bank,"

according to an HSBC statement.(Mi Diario)

Hope all is well, G.

Oct 22, 2013