TYT: 2 Debt Ceiling Options - Which Is Worse?

[ejbr]

Run time: 04:21 https://www.youtube.com/watch?v=ZuekVufDBNc   Posted on YouTube: July 26, 2011 By YouTube Member: TheYoungTurks Views on YouTube: 5568   Posted on DU: July 26, 2011 By DU Member: ejbr Views on DU: 1653

 

[izquierdista]

1. There is no bottom

I know people here don't like to do business with Republicans, but if you are ever charged with a crime, you better have one for a lawyer and hope the prosecutor is a Democrat.

[rhett o rick]

2. r&k

[Lorien]

3. K & R. nt

[Prana69]

4. unfreakingbelievable. n/t

[grahamhgreen]

5. Too right, Cenk! This is why they will not allow Cenk or Keith on MSNBC.

[midnight]

6. I second the professors tweet...

[arundhatiroyfan]

7. k&r.

[pansypoo53219]

8. doesn't help when the gnews media cheers on the rite

and the teahadists won.

let the ricking rich get guillotines fior fuck sake. i want EISENHOWER tax rates NOW!

[JDPriestly]

9. I wish that Cenk and his trusty research team would look into whether

this 2008 article in Der Spiegel was accurate and, if so, to what, if any, extent our current rush to cut spending is due to IMF pressure.

Another problem for Mr. Dollar is that it will be several months before his actions take effect. Officials with the International Monetary Fund (IMF) have informed Bernanke about a plan that would have been unheard-of in the past: a general examination of the US financial system. The IMF's board of directors has ruled that a so-called Financial Sector Assessment Program (FSAP) is to be carried out in the United States. It is nothing less than an X-ray of the entire US financial system.

As part of the assessment, the Fed, the Securities and Exchange Commission (SEC), the major investment banks, mortgage banks and hedge funds will be asked to hand over confidential documents to the IMF team. They will be required to answer the questions they are asked during interviews. Their databases will be subjected to so-called stress tests -- worst-case scenarios designed to simulate the broader effects of failures of other major financial institutions or a continuing decline of the dollar.

. . . .
For seven years, US President George W. Bush refused to allow the IMF to conduct its assessment. Even now, he has only given the IMF board his consent under one important condition. The review can begin in Bush's last year in office, but it may not be completed until he has left the White House. This is bad news for the Fed chairman.

When the final report on the risks of the US financial system is released in 2010 -- and it is likely to cause a stir internationally -- only one of the people in positions of responsibility today will still be in office: Ben Bernanke.

http://www.spiegel.de/international/world/0,1518,562291...

Are we really being somehow ordered (or whatever the IMF does) by the IF to pay this debt, and if so, is the whole theater between the president and Congress just a charade with a predetermined outcome -- drastic cuts in money we spend not just on social programs but also on infrastructure including education?

And did Bush know there was a serious problem for many of the years of his presidency?

Is the Spiegel article incorrect?

Does this put the whole situation involving Strauss-Kahn in a slightly different light? Did our government want a conservative in charge of the IMF, a conservative who had worked for an American law firm and might have more sympathy for the American situation?

And is what is going on in D.C. just an attempt to fool us into thinking that we are still living in a country with at least a slightly democratic government, that we have not totally surrendered our sovereignty and government by the people to international agencies?

I'm genuinely asking questions and I'm hoping that my ideas are just totally absurd. I hope I'm really, really wrong.

But I can't help but question.

[civilisation]

10. YES! #fuckyouwashington

This is the classic crisis/response BS that we keep getting jammed down our throats. Manufactured crisis (banking system eating self), then suggestions of over the top results (gun to head of normal people), followed by further over the top solutions (these so called plans),. in the end we are handed the exact situation that was desired by those that manufactured the crisis in the first place,. the Banksters just can not get enough,. they do not know the meaning of the word. The system they have built is a ponzi pyramid scam and this is not even up for debate,. oh no we MUST just cut back on programs of social uplift,. while giving more and more to the disgustingly wealthy.

Does this make an logic scene? How about an examination of the current monetary system at the root of all this? A system that sees Banksters creating money out of thin air, whenever people (or our government on our behalf) borrows said money, and ALSO collecting interest for their private enrichment for doing this keystroke money creation. The government (or any of us individuals) needs not borrow money from private cash cartels,. there are a plethora of other less corrupted systems of money creation and usage we should be trying. This is what should be debated now,. not how much do we give up to the private wealth whores,. who contribute nothing of value,. they only take take take.

Nothing changes if you change nothing.