Archive for default

Default Apocalypse

Posted in uncategorized with tags , , , , on October 18, 2013 by andelino

Default Apocalypse 00A Survival Guide To The Debt Ceiling Default Apocalypse

America may be on the verge of a default on its national debt.

There is no “good” reason for this default which could easily be “avoided” by the “insane lunatics” in Washington DC.

So what should we do, in the meantime, to prepare ourselves?

It’s a good question!

Right now, U.S. Treasury bonds are an important benchmark in the global economy.

Trillions of dollars of transactions depend on the security of these bonds.

The very definition of financial risk in much of the world is predicated on the notion that America will never, ever default on its debt.

Experts expect major bank failures, a collapse of various normally safe mutual funds and general chaos if the U.S. defaults.

At home, we would see an immediate government shutdown on steroids, as services go offline and the Treasury Department attempts to juggle the chainsaws as best it can to postpone the most dire effects of a default scenario.

President Barack Obama has a few “weird” options he can exercise as well.

A slew of legal scholars believe Obama can unilaterally raise the debt ceiling based upon the 14th Amendment of the Constitution, which states that “the validity of the public debt … shall not be questioned.”

Fans of quirky monetary tricks note that the president could also mint a trillion-dollar platinum coin, deposit it at the Federal Reserve, and keep the lights on indefinitely.

Obama, has, in the past, rejected both of these ideas, but if the debt ceiling calamity looks inevitable, he may have to revisit them.

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Nevertheless, the hour of debt ceiling darkness is drawing near.

Soon the government runs out of extraordinary measures and the state will begin failing to make good on its obligations.

Absent a congressional debt ceiling hike or Obama debt ceiling magic, the U.S. will be missing bond payments by the end of the month, plunging the world into turmoil and chaos.

How will you survive this new world order?

Well, you probably won’t.

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But here’s how to give yourself a “fighting” chance.

First, allow yourself to panic: Panic is inevitable, so just get on with it as quickly as possible. Let it wash over you. Cleanse yourself in its heat. Let the panic burn away all thoughts of the luxuries you once savored as a member of 21st century human civilization. Allow the fear to clarify things for you. Allow yourself to be reborn, as a person capable of things you wouldn’t have ordinarily thought yourself to be capable of. Bloody things. Once past your now outdated moral and ethical considerations, you are ready to begin.

You will probably want to heavily arm yourself: Those that already have done so will have a huge leg up in this department, so act fast and acquire sufficient armaments, and be prepared to use them. Alternatively, you can seek out the toughest, most heavily armed person you know and pledge your servitude to that person. You will want to make a very simple, very cogent case about what you have to offer this person in exchange for protection. Bear in mind that if you are a “political blogger,” there is probably no place for you in this new society. You should ask for the end to come quickly and painlessly.

If you work at a Medieval Times restaurant, you already have a bit of an advantage in navigating what our new feudal society is going to be like. And sadly, those weird Cross fit people are probably going to rise in the ranks fairly quickly.

Acquire the means to start fires as quickly as possible: Mankind has been taking its ability to just start fires at will for granted. After the default apocalypse, it’s going to get very hard. You should probably spend a sizable amount of your time over the next few weeks learning how to set fires without our modern means of doing so. Barring that, stockpile as many fire-starting implements as you can.

Cigarettes are a better hedge against the dollar than gold: Have you been buying gold? Wow, that was a big mistake! You are not really going to be able to buy anything with a commodity devoid of practical utility. It’s possible you might be able to trade gold for your life, if you are up against a particularly stupid warlord distracted by shiny objects. The new medium of exchange in the default apocalypse will probably look a lot like the one currently used in prisons, so consider cigarettes default swaps.

Carve a hole in the bottom of your mattress: Staying rested is essential and sleeping on the pile of cigarettes you horde before the crash can be rough. Smokes aren’t as comfy as a tempurpedic pillows, but they’re easy to hide from roving bandits when stuffed with care into a dug-out crater under your mattress.

Find a sturdy, non-rusty garbage can: You will probably need this to start fires in. Also, you can roll your junk around inside it.

Train and befriend a wolf: They will prove to be helpful companions and able watchdogs when society turns on itself. And chances are, an enormous amount of societal status will accrue to someone who can command the wolves at will.

Train and befriend a carrier pigeon: This is how you will “GChat” after the default crisis.

Befriend Liam Neeson if you can: Speaking of wolves, did you know that 80 percent of the movie “Into The Grey,” starring Liam Neeson, is actually just found footage from his real life, spent surviving arctic conditions and killing wolves with his bare hands? It’s true. Pledging your servitude to Neeson would be a really good move right now, especially if you find yourself having to face down the “Wolf Lord” clan for survival.

Get as many canned goods as possible: Food supplies won’t be immediately depleted. But they can’t be trusted. With food inspectors already furloughed and international trade likely to slow, expect a disruption in your normal diet. And prepare for the inevitable hunger pains. You’ll want to avoid tuna fish, because no one is coming to treat you for the mercury poisoning you develop after you’ve eaten a bunch of not-checked-by-food-inspectors tins of tuna. Also, while beans are hearty, you probably don’t want to stumble into your life in this new society with a reputation for flatulence.

Do you know how to farm anything? See, this is one of those skills with which you can bargain for protection. It wouldn’t be a bad idea to know how to hunt, either. Or to field dress a wild animal. Fishing is also a worthwhile skill to have. Basically, you’ll be spending your life growing and gathering food for your clan, so it would help if you actually enjoyed doing this stuff, too.

Buy survival seeds: As the Survival Seed Bank website notes, you can plant a “full acre crisis garden!” But you’d better do this within the protective barriers that your post-default liege erects to protect his holdings.

Buy fake survival seeds: You can give these to the guy who will try and steal your survivor seeds.

What to do about books? This is a judgment call. You probably won’t have much time to read that new Dave Eggers book, and carrying around a bunch of non-essential stuff is a no-go. Still it would be useful to help keep Western Civilization alive in some fashion. And everyone knows that Liam Neeson likes a good night read while being tucked into bed. Perhaps you can convince your liege to erect his fortifications around a library? You can argue that the library contains useful guides to basic latrine engineering and animal husbandry. Plus, in a pinch, you can burn the Twilight series — and any other “tween paranormal romance” novels — for warmth.

Duct tape is helpful: Seriously, duct tape is one of mankind’s most amazing creations, with more uses than you can even fathom. Stock up right this minute, if only to wrap around your hands for use as an alternative to the gloves that will be stolen from you.

Make sure you have a good pair of shoes: You’ll be moving around a lot, so make sure your shoes are sturdy and comfortable and solid in all sorts of extreme conditions. Think in terms of a good pair of Carhartt work boots — kick those Kenneth Coles to the curb. This is the post-default hells cape, not a fashion show.

Finally, leave that acoustic guitar at home: No one wants to hear your singer-songwriter bullshit right now.

Enjoy the “Default Apocalypse!”

Default Apocalypse 01

16 Ways Default Will Totally Screw Americans

 

Debt Default

Posted in uncategorized with tags , , , , on October 17, 2013 by andelino

Debt Default 00Obama’s “Debt Default” is on his shoulders while we shoulder his impeachable offenses.

Apparently the president thinks he can furlough reality when talking about the debt limit.

To suggest that raising the debt limit doesn’t incur more debt is laughably absurd.

The very reason why you raise the debt limit is so that you can incur more debt.

Otherwise what’s the point?

It’s also shameful to see him scaremongering the markets with his talk of default.

There is no way we can default if we follow the Constitution.

The Fourteenth Amendment, Section 4, requires that we service our debt first.

We currently collect more than enough tax revenue to service our debt if we do that first.

However, we don’t have enough money to continue to finance our ever-growing federal government deficit.

Our $17 trillion dollar national debt has increased over 50% since Obama took office.

That’s why President Obama wants to increase the debt limit.

He doesn’t want to make the tough decisions to rein in government spending.

So, he’s scaremongering the markets about default, just as he tries to scaremonger our senior citizens about their Social Security, which, by the way, is funded by the Social Security Trust Fund and is solvent through 2038.

It’s time for the president to be honest with the American people for a change.

Defaulting on our national debt is an impeachable offense, and any attempt by President Obama to unilaterally raise the debt limit without Congress is also an impeachable offense.

A default would also be a shameful lack of leadership, just as mindlessly increasing our debt without trying to rein in spending is a betrayal of our children and grandchildren who will be stuck with the bill.

This article was cross-posted at Sarah Palin’s Facebook page.

America’s Debt Limit Explained

President Barack Obama is demanding a $1.1 trillion “ransom” or else he will not allow the debt ceiling to be raised.

That’s the effective offer on the table from the president and Senate Democrats.

They have now refused to pass a “clean” short-term debt ceiling hike unless Republicans agree to reverse the “sequester” spending cuts in the 2011 Budget Control Act that were enacted–at Obama’s suggestion–to end the last debt ceiling crisis.

The president, who has invited congressional leaders to conduct talks at the White House Monday afternoon, still continues to insist that he “will not pay a ransom for Congress reopening the government and raising the debt limit.”

Yet he and his party are the ones insisting on a “ransom,” now that Republicans appear to be in the mood to compromise after opinion poll results last week showed them losing politically in the showdown.

Sen. Dick Durbin (D-IL) has claimed that the sequester dispute means that Democrats and Republicans are only $70 billion apart in budget negotiations.

That is a “blatant” lie, as the total value of the sequester over ten years is $1.1 trillion.

Democrats do not want a reprieve for one year–they want the entire sequester canceled so that they can continue spending on such priorities as the annual cowboy poetry festival in Nevada.

President Obama asked the press to “imagine if a Democratic Congress threatened to crash the global economy unless a Republican president agreed to gun background checks or immigration reform.”

Now the White House and a Democrat-controlled Senate are threatening exactly that–unless Republicans agree to fork over $1.1 trillion, paid for with new revenues (i.e. taxes) on the American people.

Ransom, indeed.

Political Panic Button

Poor, Dylan Ratigan. He thinks Obama wants to stop the financial bloodletting.

Isn’t he cute when he fakes anger?

Lean forward Dylan, and enjoy “Next Tuesday” while you still can.

It’s all the fault of that troublesome, tiresome, annoying Congress.

It will be so much easier to spend us into oblivion when Obama also  assumes the role of “Appropriator-in-Chief.”

Debt Default 01

Default Would Be “A Pure Act Of Idiocy”

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