The Mudcat Café TM
Thread #152363 Message #3563053
Posted By: Donuel
01-Oct-13 - 12:05 AM
Thread Name: BS: US Government shutdown
Subject: RE: BS: US Government shutdown
It has happened, not just the shut down but the credit default swap on the US treasury note that I POSTED under 'over active imagination thread.
TODAY the rate to insure the treasury note against collapse and default went from 160 to well over 1,200. Billionaires will be made from the accelerating bets that the note will fail. Nothing successfully fails as well as wall st. betting on failure. It picks up momentum as the fear of failure pushes failure farther and faster.
Yep our family is now without a paycheck. Despite what is being reported by FOX News that gov. employees will get a paid vacation the truth is that it is up to Congress to decide if we get paid or not.
As chief economist for a major gov. agency my wife's job included taking actions to insure a procedural shut down and answer questions of contractors, employees and directors.
My dad was a gov. employee as well. I remember him saying on pay day "THE EAGLE POOPED TODAY". The EAGLE is now officially constipated and may not poop for weeks since the debt ceiling extortion scheme by tea party reps, put in office with Koch Bros money, is only 2.2 weeks away.
the debt ceiling postponement plan is the truly serious and hideous crime that has been planned for 2 years.
Last time the US lost their AAA credit rating on the mere11th hour resolution of the threat to do nothing. To actually go past the 11th hour would increase the nation debt by more than the sequester fiasco saved because of higher interest rates for dead beats like the US. The numbers are not solid since no one knows how a runaway inflation would effect of cheap dollars would balance out the debt.
The debt by the way has now been lower than it has been for the last 30 years. FOX is forbidden from reporting that fact.
Anyway its been crazy but my prediction about credit default swaps cloaked in the secrecy of opaque hedge fund transactions is beyond crazy and runs the risk of revisiting the days of 2008 and too big to fail extortion of the US Treasury.
Obama could do what Lincoln did in the last civil war and dismiss Congress. What are they going to do. complain that it is unconstitutional? Too bad the Supreme Court is also shut down.
James Madison once wrote about the Tyranny of the minority. Now we know what 3o congressmen can do and actually inflict more damage on Congress and the country than the airliner that supposed to hit the Capitol on 9-11. That reminds me that the Rep Congressmen were heard tonight shouting "Lets ROLL like on 9-11" right before they began their vote to reject the Senate's clean CR bill.
On a less serious note, THIS JUST IN ;-)
Boehner says he is willing to table his defund Obama care amendment if Obama gives himself a vasectomy, by his own hand, on live TV!
not likely I know.
I see Ted Cruz waving his baton and conducting the singing tea party republicans in Congress in a rousing rendition of DIXIE and 'burnin down the house'.
The 30 tea party rebels who threaten to primary all squishy moderates and vowed to destroy and shut down the gov. by doing nothing still risk great injury by cutting off their noses to spite their face and shooting themselves in the foot and setting recreational fires in their bedrooms and jamming a sharp stick in their eye and tripping on their own bloody feet and falling face first, sans noses, in the mud.
Here's mud in your eye Republicans.