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Post by Stealth on Jan 15, 2023 23:39:46 GMT 10
Yellen warns of U.S. default risk by early JuneWASHINGTON, Jan 13 (Reuters) - U.S. Treasury Secretary Janet Yellen said on Friday the United States will likely hit the $31.4 trillion statutory debt limit on Jan. 19, forcing the Treasury to launch extraordinary cash management measures that can likely prevent default until early June. "Once the limit is reached, Treasury will need to start taking certain extraordinary measures to prevent the United States from defaulting on its obligations," Yellen said in a letter to new Republican House of Representatives Speaker Kevin McCarthy and other congressional leaders. She urged the lawmakers to act quickly to raise the debt ceiling to "protect the full faith and credit" of the United States.
Alrighty folks. What's your take on this? There's massive amounts of distrust and lack of faith in Yellen for what seems to be very good reason. The thing that gets my hackles up is that ALL of the MSM and several smaller sources are reporting about this. My concern is that the reason there's big noise about it is because they know it's unavoidable and they're trying to give themselves the 'we tried to tell you, it's not our fault!' avenue. I feel like with only days until they hit their statutory debt limit they've known about this for many months but more likely a year or more. I suspect flagging it now means that they get to June and say "Yep, see, we told you so. Now struggle through it because that's your only option and no, there's no recovery plan". Six months out is a crazy convenient time for literally everyone to start reporting on it. Just far enough out that it won't trigger panic for the most part and just close enough that people will remember seeing articles about it in the media when the other shoe finally drops. It sounds like they're telling everyone that they're going to be defaulting in June and buckle up for the ride.
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frostbite
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Post by frostbite on Jan 16, 2023 4:12:51 GMT 10
Does that mean no more billions in aid for Ukraine?
I don’t care what happens to the USA, I only like one of them anyway (dirtdiva) and she’s well sorted to ride this thing out. Or she can move to my place , teach me how to garden and keep all my Vietnamese backpackers in line.
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norseman
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Post by norseman on Jan 16, 2023 4:52:14 GMT 10
Does that mean no more billions in aid for Ukraine? I don’t care what happens to the USA, I only like one of them anyway (dirtdiva) and she’s well sorted to ride this thing out. Or she can move to my place , teach me how to garden and keep all my Vietnamese backpackers in line. I like Stealth's take on all this and agree 100%, the elites are priming everyone with the "well we tried to warn you" bullshit. But I really don't give a faark anymore! Something bad happens in the US or UK our dollar goes down the plughole, something good happens in the US or UK our dollar still goes down the plughole! As a Neo-Third World Nation Oz has more in common with South Africa, Russia and Argentina these days, I'm prepping for that baseline level of existence and below, we might not be totally there yet but we are well down the path!
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frostbite
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Post by frostbite on Jan 16, 2023 5:00:35 GMT 10
Like you Norseman, all I care about is my children and grandchildren, and a small circle of good mates.
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norseman
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Post by norseman on Jan 16, 2023 5:36:13 GMT 10
Like you Norseman, all I care about is my children and grandchildren, and a small circle of good mates. I totally agree, at the end of the day you can only help influence and maintain a level of responsibility and care as a single individual, since the beginning of human time that's been a tribal, village or family / extended family level of co-operative existence! It's so fuggen energizing and refreshing when you discover this life lesson, it's powerful and at the same time dangerous as Big Brother and his Goon Squads view it as a serious threat to their control of our artificially created Local, State and Federal "Communities" it's so "Un-Australian", what the **** does that even mean these days?
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blueshoes
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Post by blueshoes on Jan 16, 2023 6:35:59 GMT 10
My take is, "that's not news" - ten bob says they'll argue about it for a few months, maybe have another govt shutdown, then just raise the debt ceiling anyway and kick the can down the road... till inflation gets them.
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malewithatail
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Post by malewithatail on Jan 16, 2023 6:43:23 GMT 10
As we have little money anyway, we are prepped for a economic collapse, and have been for many years !
Knowledge is the currency of the future, oh yes, and food/water.
Most household darksuckers are about 60 who.
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tactile
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Post by tactile on Jan 16, 2023 6:54:04 GMT 10
They raise the debt ceiling every year...and they control the world currency so they'll just "print" more. Nothing to see here...move along...
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malewithatail
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Post by malewithatail on Jan 16, 2023 11:19:10 GMT 10
People say I act like I don't care. Bad news, its not an act. The sooner it all falls apart, the sooner sanity can prevails and rebuilding starts.
When you reach the depth of about 50 feet, you are in total darkness. This is because the heavier dark sinks o the bottom of the lake and the lighter light floats on top.
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norseman
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Post by norseman on Jan 16, 2023 11:38:26 GMT 10
People say I act like I don't care. Bad news, its not an act. The sooner it all falls apart, the sooner sanity can prevails and rebuilding starts. When you reach the depth of about 50 feet, you are in total darkness. This is because the heavier dark sinks o the bottom of the lake and the lighter light floats on top. I've actually stated this very same opinion many times on various forums and websites over the years, my proviso always being the hope that something better will be built to replace the sh*t fight that is now starting to spiral downwards. Lately the Gooberment and their Goon Squads have taken a very dim view of this type of thinking and have labelled it "Accelerationist Ideology", they love to slap it on along with so called "Right Wing Extremist" even when they are not!
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Post by Stealth on Jan 16, 2023 12:05:42 GMT 10
I think the only reason it really bothers me is that you can only kick the can down the road so far... Has that road ended? Often we use that phrase as an open-ended time frame but every road ends eventually and I think we tend to forget that when we use the phrase.
The reason I'm seeing a stop sign is purely because they've given such specific time frames. Thursday, they hit the limit. June, they run out of levers to pull. They're telling us in no uncertain terms exactly when they expect to see the impacts and at the risk of panicking the population. If they wanted to avoid panic (and of course they would, a happy sheep is an oblivious sheep) they'd use mitigating terms like 'maybe', 'at some point' and 'perhaps'. There's a lot of firm certainty in Yellen's words and that's what triggers my 'they know what they're doing and the result they expect' response.
For those who're financially set up to weather storms with paid off properties and savings to rely on it's very easy to say "Oh well, not a me problem!". I suppose if I were in the same position I'd be disinclined to care all that much either. Then again, I'd still be worrying about my younger family who's financial position isn't as stable and could lose everything to a crash. Or older folks who're already only skimming by on their less than suitable pensions. We are none of us an island.
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malewithatail
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Post by malewithatail on Jan 16, 2023 12:35:34 GMT 10
"We are none of us an island."
But we will be. Do a mind think and truthfully look at what you have now and visualize how life would be without any more shops, power grid, petrol and so on.
How long would you survive. Its a mind game, no one else knows, your not competing with anyone, so be honest.
Our model of reality is founded on some basic assumptions based upon limitations of our biological sensory apparatus. The mechanical sensory apparatus we build tend to be modeled on our biological sensory apparatus and the BasicAssumptionsWhichMayBeWrong which we make based on those apparatus. In other words, reality might not be what we think it is.
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Post by Joey on Jan 16, 2023 18:58:25 GMT 10
The US is doomed one day or another. To show their corruption, the latest omnibus package they passed recently, gives each senator $2.5M ea to spend just on their own "home security" upgrades. You don't allow that much money to upgrade home security unless you are planning on making some radical political moves in the near future that would get the public in enough uproar to start attacking their homes.
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spatial
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Post by spatial on Jan 16, 2023 19:07:45 GMT 10
The US is doomed one day or another. To show their corruption, the latest omnibus package they passed recently, gives each senator $2.5M ea to spend just on their own "home security" upgrades. You don't allow that much money to upgrade home security unless you are planning on making some radical political moves in the near future that would get the public in enough uproar to start attacking their homes. Yes riots and pitchforks will be out soon. The scary thing is the longer it takes to fail, the bigger the fall is going to be........
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blueshoes
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Post by blueshoes on Jan 16, 2023 20:16:52 GMT 10
"We are none of us an island." But we will be. Do a mind think and truthfully look at what you have now and visualize how life would be without any more shops, power grid, petrol and so on. so this is off topic and all, and my millennial-ness is showing, but... is there a version of the Sims where you start off in a "normal" world and all the key infrastructure just fails and your Sim has to survive somehow? With all the implications of societal breakdown, no petrol, inflation, dysfunctional supply chains and not having a functional first-world with NGOs to rescue the Sims? Something tells me that might actually freak a few people out, and that might be a good thing It'd be an interesting excercise, anyway.
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tactile
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Post by tactile on Jan 16, 2023 20:41:25 GMT 10
so this is off topic and all, and my millennial-ness is showing, but... is there a version of the Sims where you start off in a "normal" world and all the key infrastructure just fails and your Sim has to survive somehow? With all the implications of societal breakdown, no petrol, inflation, dysfunctional supply chains and not having a functional first-world with NGOs to rescue the Sims? Something tells me that might actually freak a few people out, and that might be a good thing It'd be an interesting excercise, anyway. I guess you could also do the thought exercise and ask what if your collapse scenario is wrong? After all, there are people on here who have admitted they have been calling it their whole life and here we are...still waiting. What could of you done with your life (and perhaps your extended families life that you have been influencing) if it all stays together?
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Post by Stealth on Jan 16, 2023 20:47:20 GMT 10
so this is off topic and all, and my millennial-ness is showing, but... is there a version of the Sims where you start off in a "normal" world and all the key infrastructure just fails and your Sim has to survive somehow? With all the implications of societal breakdown, no petrol, inflation, dysfunctional supply chains and not having a functional first-world with NGOs to rescue the Sims? Something tells me that might actually freak a few people out, and that might be a good thing It'd be an interesting excercise, anyway. Hahaha I used to always murder my Sims in new and imaginative ways, so I can't imagine how that'd go down🤣. But sadly I don't think the message would get through. There's a very big difference between make-believe simulations where there's no real risk to the user. I think if you could do a first person VR version THAT might get a few cages rattled. But the reality is that most will go 'well that was a fun game, anyway off to the shop to buy some groceries' without making any connection to what they might experience themselves in a grid-down. Which is a bit sad because I think what you're describing is the most likely scenario of what's to come if the global economy collapses. It'll be everyone for themselves or their nearest and dearest. Which is why I'm firmly in the 'no one is an island' camp. Because we can only get so far alone no matter how good we think we are at being prepared. The universe doesn't care if you know thirty ways to tie knots. It'll give you a burst appendix to fix instead.
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frostbite
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Post by frostbite on Jan 17, 2023 4:08:32 GMT 10
some stuff about Sims, whatever that is. Maybe a computer game, but I don’t own a computer, just a tablet’ I guess you could also do the thought exercise and ask what if your collapse scenario is wrong? After all, there are people on here who have admitted they have been calling it their whole life and here we are...still waiting. What could of you done with your life (and perhaps your extended families life that you have been influencing) if it all stays together? Good one Tactile. Live for today, prepare for tomorrow. That’s why I haven’t bugged out to my retreat. We still live in good times, despite the best efforts of our useless leaders.
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Post by ausprep130 on Jan 17, 2023 6:44:26 GMT 10
I think the only reason it really bothers me is that you can only kick the can down the road so far... Has that road ended? Often we use that phrase as an open-ended time frame but every road ends eventually and I think we tend to forget that when we use the phrase. The reason I'm seeing a stop sign is purely because they've given such specific time frames. Thursday, they hit the limit. June, they run out of levers to pull. They're telling us in no uncertain terms exactly when they expect to see the impacts and at the risk of panicking the population. If they wanted to avoid panic (and of course they would, a happy sheep is an oblivious sheep) they'd use mitigating terms like 'maybe', 'at some point' and 'perhaps'. There's a lot of firm certainty in Yellen's words and that's what triggers my 'they know what they're doing and the result they expect' response. For those who're financially set up to weather storms with paid off properties and savings to rely on it's very easy to say "Oh well, not a me problem!". I suppose if I were in the same position I'd be disinclined to care all that much either. Then again, I'd still be worrying about my younger family who's financial position isn't as stable and could lose everything to a crash. Or older folks who're already only skimming by on their less than suitable pensions. We are none of us an island. I kind of agree about there being a limit to what people can take. Kind of like how far can you stretch a rubber band before it either breaks or snaps back in your face. There is a limit. However, the goal posts are constantly moving, and if the time frame is longer than a couple of generations, then in theory there is no limit because new generations fall in to line with the 'new world order' because they know no better. (Could be argued they are better educated or that they are dumbed down and brainwashed) Imagine trying to implement and enforce some of the rules and regulations we have around today to people from 1850's.
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malewithatail
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Post by malewithatail on Jan 17, 2023 7:26:30 GMT 10
"I guess you could also do the thought exercise and ask what if your collapse scenario is wrong? After all, there are people on here who have admitted they have been calling it their whole life and here we are...still waiting. What could of you done with your life (and perhaps your extended families life that you have been influencing) if it all stays together? "
Yes, true, but this is the lifestyle we have chosen, to be a bit independent of the system. And I have given some thought to what if we could see into the future, and nothing happens for the next 100 years, would we still be doing the same things ? Yes, its our lifestyle now, having a smaller footprint on the planet and being a bit more independent is a good way to be.
Yes, we do live in good times, perhaps the best period in history, but for how long ? And it also depends on the mode of collapse, economic, nuke etc.
Prior to turbines, it was much more difficult to get dark from the rivers and lakes to the oceans. The Indians recognized this and tried to solve the problem.
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