The Pardu

The Pardu
Watchful eyes and ears feed the brain, thus nourishing the brain cells.

Sunday, July 17, 2011

Emotionalism and Lies

A few days have passed and the soliloquy continues from the RIGHT regarding President Obama's alleged lies about catastrophe if a debt ceiling/deficit deal is not reached. 

Sarah Palin  Twits about 'lies'. What a sad state of affairs that one who collects millions from her minions, resorts to such a mediocre media for delivering messages.  When she is not Twitting she sits with Mr. 'facilitation' interviewer Hannity for rambling diatribes that only she and her minions can understand. I suppose that Hannity understands but I suspect he uses his air-time with Palin counting his millions in the background of his brain.
I often wonder why people like Hannity do not ask Palin on what basis does she base her drivel. What economist does she consult?  Who on the HILL does she call for inside perspective?  Ultimately it would be nice if someone just asked if she makes up stuff.

Michelle Bachmann, the Rambling Wreck.  "Obama is trying to frighten you".  On what basis can she layout how the nation can pay debts 'off the interest', and 'they can use the taxes that we pay, pay-check to paycheck."

Joe Walsh, The Mouthpiece with a twist of racist, calls the President a liar but offers no real solutions or quotes any credible authority regarding his reason for labeling Obama a "Liar". But, of course, if one can declare the Obama's win in 2008 the fault of 'white guilt', I suppose one can redord any sort of cheap video and You Tube the work.

While the RIGHT is full of talking heads who claim failing to raise the debt ceiling is mere fantasy vs catastrophe, I have listed the most ridiculous and, sorry to go here, the least mental of the bunch.  Those who know better have shut-off the rhetoric and appear to be working on a solution.  Of course, I have little regard for their contribution to the solution as I am certain it will  benefit the nation's wealthy.  They are, however, working vs. continuing to spew ignorance in the form of financial collapse denial.  They offer such denials as consistently as they offer denials of Evolution.  Also, note that each of the mouthy-three are "Tea Party" People!!!!!

OK, so much for the inane and the babbling of the mouthy fools.  I have listed below exerts form an article posted on the HufftingPost website. You will notice that I have also posted the link for a more detailed review of the information.


U.S. Default Would Likely Cause Stocks, Bonds, Dollar To Collapse 

 A few exerts to contemplate while RIGHT-WING ignorance and obstructionist exudes.

Exerts start now.
NEW YORK -- Time is running out for Washington to raise the country's borrowing limit and avoid a default. Wall Street isn't panicking yet. But if the unthinkable happens, a default could strike financial markets like an earthquake......
What might markets look like after a default?
There's wide agreement among economists that a default would drive up borrowing costs for everybody. U.S. Treasury yields act like a floor for other lending rates, so raising them makes it more expensive for Americans to take out mortgages, for corporations to finance new spending and for local governments to borrow......
"If I were to draw a flow chart, it becomes so complex it's impossible to analyze the impact of a default," said Guy LaBas, chief fixed income strategist at Janney Montgomery Scott.....

When pressed, investors say the immediate aftermath could look like the financial crisis in September 2008. Stocks would lead the way down. In the month following Lehman Brothers' bankruptcy, for instance, the Standard & Poor's 500 index lost 28 percent......
A deeper fear is that a default could freeze the short-term lending markets that keep money moving throughout the global financial system. Treasury's and other government-backed debt are widely as used collateral for loans in these markets......
But the fallout from a U.S. default could be much worse.

"I don't even want to think of the ripple effects," Briggs said.
Indeed, most analysts agree that if the world's largest economy reneges on its debts, the consequences would be catastrophic....... 

 COMMENT: So who are you going to believe?

No comments :

Post a Comment