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1 aagcobb  Sun, Sep 29, 2013 7:14:40am

Since it appears that they will shut down the government Tuesday, that will hopefully give us enough time for public pressure to force a deal, averting a debt default.

2 Skip Intro  Sun, Sep 29, 2013 8:27:06am

The government shutdown will cause a hiccup in the financial world. Everybody who owns equities is going to get bruised.

A default, or the increasing likelihood that the Terrorist Party will cause one, will result in a massive wave of selling, hurting everyone in the country who has a retirement account or other equity investment.

This would be nothing less than a full attack on the integrity of the U.S., and if anyone other than Congress was planning on doing it, they’d be hauled off to a dark cell at Guantanamo.

3 sagehen  Sun, Sep 29, 2013 9:24:56am

Maybe the Wall Streeters will pour a ton of money into supporting anti-Tea Party, anti-Koch primary candidates in the reddest of red districts. Surely they can find a local in each place who’d be susceptible the sorts of incentives they could offer…

Which won’t do us any good at all until next year, by which time the damage will have been done, but at least it’s something.

4 Romantic Heretic  Sun, Sep 29, 2013 9:29:43am

Not gonna happen. The teahadis hate Wall Street as much as they hate Washington DC. And as I’ve pointed out the teahadis intentions are revolutionary. They want the country to burn.

In the relationship between Wall Street and the teahadis I wonder which one was the ‘useful idiot?’

5 Dr Lizardo  Sun, Sep 29, 2013 10:45:18am

re: #4 Romantic Heretic

Not gonna happen. The teahadis hate Wall Street as much as they hate Washington DC. And as I’ve pointed out the teahadis intentions are revolutionary. They want the country to burn.

In the relationship between Wall Street and the teahadis I wonder which one was the ‘useful idiot?’

I agree with you; the Teahadis want the country to burn down - it’s one of their driving goals.

6 CuriousLurker  Sun, Sep 29, 2013 3:51:19pm

You forgot to link to the source article. I assume it’s this one:
huffingtonpost.com

7 Dr Lizardo  Sun, Sep 29, 2013 4:39:03pm

re: #6 CuriousLurker

You forgot to link to the source article. I assume it’s this one:
huffingtonpost.com

Thanks.

8 Achilles Tang  Sun, Sep 29, 2013 5:51:42pm

I have a question for the legal literates here.

Do I correctly recall that the president has the constitutional authority to raise the debt ceiling if required?

9 BishopX  Sun, Sep 29, 2013 7:02:44pm

re: #8 Achilles Tang

This is kinda like the war powers issue. There’s a legal argument to be made (based on the 14th amendment) that he does, but it’s not codified anywhere and has never been argued before a court.

10 Achilles Tang  Mon, Sep 30, 2013 8:19:57am

re: #9 BishopX

Thanks, but has the war powers issue ever been argued in a court?

Seems to me that if the GOP forced a default and he did so, then they would have to go to court to have the country default, and the Supreme Court would have to rule for or against default.

11 Skip Intro  Mon, Sep 30, 2013 9:10:23am

re: #10 Achilles Tang

Thanks, but has the war powers issue ever been argued in a court?

Seems to me that if the GOP forced a default and he did so, then they would have to go to court to have the country default, and the Supreme Court would have to rule for or against default.

Scalia/Thomas have already written their opinions in favor of it.


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