US gubmint shutdown + default + subprime sequel?

[Vladimir]

I find it very hard to believe our Congress could be that irresponsible.

The problem is that they have been for a very long time, and it was the President who stormed out of the most recent negotiations.

I haven't read your article yet but I assume it's alarmist. Truth is that we have plenty of money to cover our discretionary expenses (social security, debt interest, medicare) so the resulting cuts would be discretionary (this always means military).

Read it.

Thought so; a lawyer from NOVA offering more opinion than news. Yes, there will be pain, which is why I hope all parties involved come to an acceptable solution.

[gaelic cowboy]

I not too sure what the problem is really here Obama says 3-1 cut to taxes and thats usually the way most people like it despite what they tell the news.

Do the Rep people really want to push this when there is a solution on the table, crashing the government is hardly likely to endear them to voters.

[Lemur]

I haven't read your article yet but I assume it's alarmist. [...] Thought so; a lawyer from NOVA offering more opinion than news.

Yeah, the blogger is a lawyer, not sure how that disqualifies him from looking at numbers. Didn't see any reference to NOVA; are you talking about the PBS show or something else?

Furthermore, the bulk of bullet points were cross-referenced from here. Frum is what conservatives used to be, and I rarely find him to be alarmist or hyperbolic.

[TinCow]

Didn't see any reference to NOVA; are you talking about the PBS show or something else?

I believe he's referring to Northern Virginia, which is known as NoVa in the DC area. It is the most prosperous of the three DC areas (the other two being DC proper and southern Maryland). If that is what he is referring to, he is using it as a disparaging term to indicate that the writer is the equivalent of a 'Washington elite' who is (1) a Democrat, (2) overpaid, and (3) so highly educated he's become stupid.

[drone]

I believe he's referring to Northern Virginia, which is known as NoVa in the DC area. It is the most prosperous of the three DC areas (the other two being DC proper and southern Maryland). If that is what he is referring to, he is using it as a disparaging term to indicate that the writer is the equivalent of a 'Washington elite' who is (1) a Democrat, (2) overpaid, and (3) so highly educated he's become stupid.

I thought the overpaid Democrat Washington elites lived in Montgomery County, MD. Virginia (even NoVa) is too red-state for them.

[TinCow]

I thought the overpaid Democrat Washington elites lived in Montgomery County, MD. Virginia (even NoVa) is too red-state for them.

Too Red State? Virginia went for Obama in 2008, and both of its sitting Senators are Democrats. VA has been a swing-state for the last 10 years, largely due to NoVa and the peninsula.

[drone]

Too Red State? Virginia went for Obama in 2008, and both of its sitting Senators are Democrats. VA has been a swing-state for the last 10 years, largely due to NoVa and the peninsula.

Everything is relative. VA is more of an old-school Southern conservative-type state, the reason we have Democrats as Senators is because the GOP put forth idiots (Allen/ Gilmore) against them. And our Dems could never be mistaken for those pinkos from Maryland!

[Vladimir]

I not too sure what the problem is really here Obama says 3-1 cut to taxes and thats usually the way most people like it despite what they tell the news.

Do the Rep people really want to push this when there is a solution on the table, crashing the government is hardly likely to endear them to voters.

"Read my lips. No new taxes." Similar promises have been made and the cuts never happened. That is the danger here. It looks like one side is willing to deal but it's quicker to raise taxes so the other side doesn't have to follow through with cuts.

Yeah, the blogger is a lawyer, not sure how that disqualifies him from looking at numbers. Didn't see any reference to NOVA; are you talking about the PBS show or something else?

Furthermore, the bulk of bullet points were cross-referenced from here. Frum is what conservatives used to be, and I rarely find him to be alarmist or hyperbolic.

Sorry Lemur; making a reference to Northern Virginia. It's that he's echoing the party line and is trying to set a certain mood.

[Centurion1]

I believe he's referring to Northern Virginia, which is known as NoVa in the DC area. It is the most prosperous of the three DC areas (the other two being DC proper and southern Maryland). If that is what he is referring to, he is using it as a disparaging term to indicate that the writer is the equivalent of a 'Washington elite' who is (1) a Democrat, (2) overpaid, and (3) so highly educated he's become stupid.

Hey I live in Southern Maryland and we are one of the few red voting areas of Maryland. We are wealthy simply because of the military. It is a flying navy town and because it is a majority of flyers you know that there are alot of officers who are decntly paid and also because so many test projects are conducted on that base you have tons of engineers. You also have well paid contractors and plenty of lawyers. This creates the nucleus that allows other wealthy social supports like doctors and luxury businesses. As someone else stated when the government makes quick cuts the first thing it does (rather stupidly especially when in a war) is cut the military. People don't realize that war makes this country quite a bit of money and provides a hell of a lot of jobs both unskilled and skilled. If the base shut down where I lived (while unlikely its the most important testing base on the east coast) the entire county would just die and dry up. And that is thousands of high paing jobs as well as low paying millions upon millions of dollars.

also we arent part of the DC area

[Strike For The South]

Good books always come out during these sorts of times

So there's that

[InsaneApache]

If the US goes tits up it;s nucular.

[Greyblades]

...Why? How does depression = nuclear war

[Major Robert Dump]

Hey I live in Southern Maryland and we are one of the few red voting areas of Maryland. We are wealthy simply because of the military. It is a flying navy town and because it is a majority of flyers you know that there are alot of officers who are decntly paid and also because so many test projects are conducted on that base you have tons of engineers. You also have well paid contractors and plenty of lawyers. This creates the nucleus that allows other wealthy social supports like doctors and luxury businesses. As someone else stated when the government makes quick cuts the first thing it does (rather stupidly especially when in a war) is cut the military. People don't realize that war makes this country quite a bit of money and provides a hell of a lot of jobs both unskilled and skilled. If the base shut down where I lived (while unlikely its the most important testing base on the east coast) the entire county would just die and dry up. And that is thousands of high paing jobs as well as low paying millions upon millions of dollars.

also we arent part of the DC area

The problem with this is that it is all reliant on the government. It has no application to normal business and commerce, because it is neither.

[rory_20_uk]

If the US goes tits up it;s nucular.

Think it through. Suddenly the world's reserve currency is worthless. Why trust the Euro, pound or yen? Best keep liquid assets... erm. What exactly? And who is going to sell it?

If one relatively small institution can cause market paralysis, the biggst one in the world going belly up with uterly destroy the world as we know it.

[Vladimir]

Think it through. Suddenly the world's reserve currency is worthless. Why trust the Euro, pound or yen? Best keep liquid assets... erm. What exactly? And who is going to sell it?

If one relatively small institution can cause market paralysis, the biggst one in the world going belly up with uterly destroy the world as we know it.

That's an excellent point because as of now, no one, not even China, is in a position to take the dollar's place. I'm sure they'll smarten up though.