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Demystifying the US debt ceiling: 5 things you should know

09.10.2013 07:40

As the US government is about to hit its so-called debt ceiling of $16.7 trillion on Oct. 17, the frightening prospect of the world’s biggest economy running out of cash is dominating headlines around the globe.

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Comments (35) Sort by: Highest rating Oldest first Newest first

 

Kevin 11.12.2013 20:49

Not sure I believe all this Mr jonathan ernst. Looks very much like US propaganda to me.

 

Sebastien 16.10.2013 02:17

Tony Blair 15.10.2013 15:28

Not one as yet has designed an economic model that suits human nature. When they do you might solve the problem.

  


We have The Venus Project. Search for "Paradise or Oblivion" on YouTube to watch its documentary. It is the only [realistic] solution I have seen so far.

 

Paul Milligan 15.10.2013 15:38

so basically speaking the banks of the world not the governments of the world, run and own the world we know it. this started openly in the first world war. if the us defaults it will be because the bankers want them too.

 

Tony Blair 15.10.2013 15:28

Not one as yet has designed an economic model that suits human nature. When they do you might solve the problem.

 

paul muadhib 13.10.2013 08:17

paul muadhib 13.10.2013 07:59

Us is entirely bankrupt, end of the story. It is now the new communist state

  


Wa s missing this: communist less the "idea" that there could be a common notion of welfare,fighting each other being the only religion ,organised by the already winner of course, all is entirely cheated!..this will end with the death of all less one, that really and honestly is the ultimate purpose of such behaviour,then when war is there, how can one be even surprised of its logical effect like unemployment,starvat ion,colonisation,des truction of cultures , tortures and all goodies.

 

paul muadhib 13.10.2013 07:59

Us is entirely bankrupt, end of the story. It is now the new communist state ,I know that because "Mao Tze Dong" stated: "the power belongs to the one with a gun". He should have added " and with the false money !!Yet what can a gun do against billions ? Nothing..as we see it and saw it in Syria with the great help of Russia.the key is there, we can decide to work together for the goodness of this planet and stop all competition, business and so on..there is nothing like voluntary working together...here lies the only intelligent and peaceful "power".

 

Donna Marie 13.10.2013 00:25

With Social Security the problem is that the government has borrowed from the funds . Again don't confuse Social Security with welfare . Welfare is for the poor that need assistants with food and housing . On every check every week we pay into the fund of Social Security . A lot of people will die before that fund is ever used .

 

Donna Marie 13.10.2013 00:19

social security (means-tested payments to the poor and unemployed), while 21 percent was spent on healthcare, again mostly for poor . WRONG Social Security isn't a fund for the poor ! It is a plan we pay into since we start working called FICA . When you retire or unable to work you receive a benefit amount equal to what you paid into . You are thinking of welfare which has nothing to do with SS .

 

Ronny Japutra 12.10.2013 21:03

If the US defaulted, then the world’s financial system “would start to freeze up,” Weafer says. “Banks would pull back from risk and lending. The US economy would slide towards recession and the global economy would quickly be affected.” A prolonged US default would lead to job losses everywhere and much tougher borrowing conditions for companies and individuals, he adds.


hmmm ... ... let's see ... ... NOTTT

 

Colin Shorey 11.10.2013 18:58

Are they using my money through the banks of UK

 

Freesaxon 11.10.2013 15:27

Good article !
I see most posters have the topic well covered.
Seems we are heading to Wall Street 2.
Bank & Zionist Usery payback time

 

Gary Hicks 11.10.2013 05:59

Tyer Kent's remarks are part of an old category: the socialism of fools. Of course, if you're not a socialist, you're innocent of that category. That only eaves the question of the need or usefulness of anti-semitism.

 

Excited about Boring 11.10.2013 03:03

Rick Lee 09.10.2013 22:39


Jews would lend to Jews at 0% but charge others. Muslims would lend to Muslims at 0% but charge others.

  

Islam forbids usury. Period. You're not supposed to lend money to ANYONE & make profit out of it. It's the Old Testament that prescribes the Jews to charge %%% on their money to everyone in the world, BUT A JEW.
I don't know what info resources you rely on, bc you've been GROSSLY MISINFORMED!!!

 

Santiago Ramírez 10.10.2013 23:22

Paper Money is a fiction. A Bill Note is nothing but a reference of a real value. Read Goethes' Faust. Reality will remain real whatever bankers do. Knowledge, Work, Intelligence and Feelings will always be real assets of human beings. Think rustic to protect your hard work achievements. i.e. a good piece of fertile land with a fresh water source will always be a good reference of good value. Big plasmas will always be stupid purchases. It's all about common sense
Advise yourself, imagine your a cat in the streets in a dark night, what would be good for the cat would be good to yourself. But yes we are not like cats.

 

I Am Edward Snowden 10.10.2013 22:51

Peter 10.10.2013 19:06


  



Not true China has already started backing their money just incase of a US Default. Was annouced on the news a day ago. But other countries might yes.

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