Comments on: What if we held an auction and no one came?

By: elraphbo

elraphbo — Wed, 20 Apr 2011 16:55:22 +0000

nevermind

By: elraphbo

elraphbo — Wed, 20 Apr 2011 16:52:07 +0000

The AP story is now a ghost, gone, white-washed….WTF!

By: Hot Air » Blog Archive » US speeding towards financial crash

Hot Air » Blog Archive » US speeding towards financial crash — Wed, 13 May 2009 16:19:32 +0000

[...] we will have to pay higher interest rates on our bonds in order to attract investors. This has already started to happen even with the top rating, but a markdown will force the issue. That will make our debt service [...]

By: Generational Theft: Continued | Radio Vice Online

Generational Theft: Continued | Radio Vice Online — Mon, 11 May 2009 17:55:31 +0000

[...] Government only recourse then is to borrow, but as we have seen … Treasury auctions, where a government borrows, are going wanting, forcing the government to discount their offerings, [...]

By: College Prof

College Prof — Mon, 11 May 2009 01:04:33 +0000

Late to this thread; sorry if someone else has brought this up. We may have to do what Warren Buffett suggested and devalue the dollar in order to pay the debt. However, we will then need a wheelbarrow full of cash to pay for a loaf of bread. Misery index on steroids, anyone?

By: Dr. ZhivBlago

Dr. ZhivBlago — Sun, 10 May 2009 05:48:28 +0000

If the economy should be recover that is good…for our country economically. Bad for other reasons as Obummer will get the credit along with the other Socialists and then we’re looking at not just 8 years of unicorns and rainbows, but also more time and virtual carte blanche from the grazing sheep bleating occasionally to pollsters to enact restrictive, anti-American policies.

Just nosed around the Media Matters site…they, of course, are blaming President Bush and are attacking Hannity for bringing up these long-term spending repercussions.

What I wonder is, how bad exactly do things have to get before they get a clue? Never I suppose.

By: darwin-t

darwin-t — Sun, 10 May 2009 01:09:18 +0000

I sent this article to a bunch of people, got one reply back so far, from the president of my local – NALC – National Association of Letter Carriers.

At 08:23 PM 5/9/2009 -0400, you wrote:
Darwin,
We will be paying for W’s mess for the rest of our lives.
Danny

I can only imagine his reaction to the reply I sent him.

By: aikidoka

aikidoka — Sat, 09 May 2009 16:05:23 +0000

I’m finally in the position to buy house by the end of this year and the potential for doom and gloom only increases thanks to Obamabi, Democraps and RINOs. Great time to be alive!

By: GeneSmith

GeneSmith — Sat, 09 May 2009 14:44:16 +0000

Yup. Though I’m more optimistic. If this is the direction things stay in, Obama will get his reckoning in 2012 because then he’ll have a record — rather than rhetoric — to run on.
Rational Thought on May 8, 2009 at 11:12 AM
No matter who we run or what 0bama’s record is, the LSM will unite behind him, baying about how it was all Bush’s fault and The Sainted 0bama had not a chance but did what he could. The sheeple will have Barry stay on. By then, though, he’ll be President of 0bamaLand and we’ll be safe and secure in Free America…

By: Is it safe to invest in stocks ? - Page 4 - US Message Board - Political Discussion Forum

Sat, 09 May 2009 04:12:05 +0000

[...] Hot Air

By: jeanie

jeanie — Sat, 09 May 2009 03:58:49 +0000

Do you think Sotherby’s or some other house would accept Obama for auction complete with wife, kiddies, dog, Emmanuel and Axelrod? Nice package deal for the right buyer. I would personally offer to pay all the fees involved at either end of the deal.

By: Instapundit » Blog Archive » ED MORRISSEY: What if we held an auction and no one came?…

Sat, 09 May 2009 02:36:38 +0000

[...] ED MORRISSEY: What if we held an auction and no one came? [...]

By: popularpeoplesfront

popularpeoplesfront — Fri, 08 May 2009 23:13:28 +0000

You should have read this last year.. he spells it all out. The American people didn't listen. Now it's going to get interesting. btw.. the people making the decisions that impact the future of the dollar are NOT Democrats or Republicans - they're bankers.

By: CaveatEmpty

CaveatEmpty — Fri, 08 May 2009 22:21:22 +0000

So .. Treasury has to up the bribe to attract buyers, for 30 year notes…
You know damn well that’s just another ‘promise’ that, when the bill comes due, Barry & Bawney’s grandson will ‘re-calculate’ .. and smack with a 200% tax rate.

By: Sheep Dog

Sheep Dog — Fri, 08 May 2009 21:58:34 +0000

I wonder how many of us on this site committed a thought crime after reading this post by Ed. I know I did.

By: SkinnerVic

SkinnerVic — Fri, 08 May 2009 21:31:14 +0000

A dollar implosion would be a free fall into a chasm the world has never seen before.

progressoverpeace on May 8, 2009 at 3:38 PM

Precisely why devaluation wins in terms of a option over a hyperinflationary spiral hands down.

I personally think this what they have planned all along, especially when they keep fluffing Paul Volcker’s advice.

By: Greg Toombs

Greg Toombs — Fri, 08 May 2009 20:28:08 +0000

One of two things will have to occur to resolve the situation. Either the federal government will have to massively cut its spending in order to service all that debt at the higher interest rates now demanded, or it will have to pass massive new taxes in order to generate enough revenue to accomplish it. Which do you think Obama is likely to try?

Both. But he'll like raising taxes more.

By: EMD

EMD — Fri, 08 May 2009 20:26:19 +0000

This guy couldn’t sell tea bags in China.

By: progressoverpeace

progressoverpeace — Fri, 08 May 2009 19:38:36 +0000

It would greatly weaken the dollar against other currencies. Think Zimbabwe circa now or Germany circa 1934 for an extreme example of where this can lead in economic terms. This, in fact, is the worst of the three scenarios.

Theophile on May 8, 2009 at 3:06 PM

Actually, it would be far worse. All of the previous monetary implosions have taken place in the context of larger, stable currencies continuing around them – to lean on. If the dollar goes, there’s nothing else. The other currencies (and economies) piggy-back off of the US. A dollar implosion would be a free fall into a chasm the world has never seen before.

By: Theophile

Theophile — Fri, 08 May 2009 19:06:37 +0000

You forgot a third option: The government can simply start to print more money to finance it’s heart-stopping level of deficit spending. This would create a rate of inflation that would damage savings, the economy and consumer confidence. It would greatly weaken the dollar against other currencies. Think Zimbabwe circa now or Germany circa 1934 for an extreme example of where this can lead in economic terms. This, in fact, is the worst of the three scenarios.

By: True_King

True_King — Fri, 08 May 2009 19:00:59 +0000

One of two things will have to occur to resolve the situation. Either the federal government will have to massively cut its spending in order to service all that debt at the higher interest rates now demanded, or it will have to pass massive new taxes in order to generate enough revenue to accomplish it. Which do you think Obama is likely to try?

Or they will have to introduce a new currency. Preferably either geographical (NAU) or global. Or they could just let the pre-planned economic collapse happen.

These are very exciting times.

By: Fighton03

Fighton03 — Fri, 08 May 2009 18:57:08 +0000

Ed, TexasDan on May 8, 2009 at 10:39 AM is right – Devaluation is the third option that needs to get attention because it’s mathematically the only way out. Obama’s not going to do either of your options; forced devaluation porks everyone instantly yet solves part of the problem. The part it doesn’t solve is the torches and pitchforks of the people you just screwed, not to mention the people holding T’s.

SkinnerVic on May 8, 2009 at 2:17 PM

ummm….can you say China? yeah, they’ll like watching their holdings go poof.

By: SkinnerVic

SkinnerVic — Fri, 08 May 2009 18:17:11 +0000

Ed, TexasDan on May 8, 2009 at 10:39 AM is right – Devaluation is the third option that needs to get attention because it’s mathematically the only way out. Obama’s not going to do either of your options; forced devaluation porks everyone instantly yet solves part of the problem. The part it doesn’t solve is the torches and pitchforks of the people you just screwed, not to mention the people holding T’s.

By: MarkTheGreat

MarkTheGreat — Fri, 08 May 2009 17:37:05 +0000

Expect the Democrats to try and sneak through a bill that ends the automatic indexing of Social Security and the income tax rates.

By: jarodea

jarodea — Fri, 08 May 2009 17:19:23 +0000

Or a third possibility: Print enough money to cover the deficits, and create the Weimar Republic of America. Better go out and pump up the tire on my wheelbarrow.

Steve Z on May 8, 2009 at 10:50 AM

There’s a 4th option. Make all companies, starting with TARP recipients, buy treasuires. They can call it a “Obama Munificence Donation”. Any company that owns treasuries gains Obama’s “munificence” (ie, he will only control CEO hiring and pay, until he decides to change the deal), those that do not gain Obama’s “benign correction” (ie, he can control every decision made, like whether to buy treauries). This is until Obama gets bored with partial control and just wants to take over every company like his great buddy Chavez.