The road to a US default

#12 Bloomberg: “Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.”

A U.S. debt default could be the trigger for the “nightmare scenario” that so many people have been writing about in recent years. In fact, it could greatly accelerate the timetable for the inevitable economic collapse that is coming. A recent Yahoo article described some of the things that we would likely see in the event of an extended U.S. debt default…

A default would upend money markets, destroy bond funds, slam the brakes on lending, cause interest rates to spiral, make our banks insolvent, and deal a blow to our foreign trading partners and creditors around the globe; all of which would throw the U.S. and the world into economic disarray.
And of course stocks would crash big time. Deutsche Bank’s David Bianco believes that if the U.S. government starts missing interest payments on U.S. Treasury bonds, we could see the S&P 500 go down to 850 by the end of the year.

There would be almost immediate panic among ordinary Americans as well. In fact, it is being reported that some banks are already stuffing their ATM machines will extra cash just in case…

With just 10 days left to raise the debt ceiling and congressional Republicans threatening to force the government to default on its obligations, banks are taking some dramatic steps to prepare for the economic chaos that would result should the brinkmanship continue.

The Financial Times reports that one major U.S. bank has started stuffing its automatic teller machines with extra cash in preparation for a possible bank run from panicked depositors. The New York Times reports that another bank is weighing a plan to advance funds to customers who rely on Social Security and other government payments that could stop in the event of a default.
Let’s hope that cooler heads will prevail and that a U.S. debt default will be avoided.

Unfortunately, it appears that the Democrats are absolutely determined not to be moved from their current position a single inch. They have decided to refuse to negotiate and demand that the Republicans give them every single thing that they want.

And who can really blame them for adopting that strategy? After all, it has certainly worked in the past. Whenever Democrats have stood united and have refused to give a single inch, the Republicans have always freaked out and caved in eventually.

Will this time be any different?

The funny thing is that once upon a time, Barack Obama was adamantly against any increase in the debt limit. The following comes courtesy of Zero Hedge…

Follow The Money

what-a-us-default-will-mean-for-small-businesses

http://www.canberratimes.com.au/business/world-business/the-road-to-a-us-default-20131009-2v6ze.html

Nobody knows exactly when America would default on its bills if Congress fails to raise a cap on government borrowing. But the recent past gives a pretty good idea of how a default could unfold.

Even the Treasury Department can’t know how much tax revenue will come in each day after October 17, when it expects to hit its $US16.7 trillion ($17.7 trillion) debt ceiling. Nor can officials anticipate exact costs, such as how many people will apply for jobless benefits that week.

Yet we can infer how quickly the government might run out of cash by looking at the equivalent of the Treasury’s daily bank statements from that same period a year ago.

What follows is a timeline that shows what a default might look like, based on daily Treasury statements from October and November of 2012.

October 17

The Treasury Department exhausts all available tools to stay…

View original post 1,229 more words

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21 Responses to The road to a US default

  1. Denise says:

    The thing is – even if “the debt ceiling is raised” – whatever the EFF that means, in reality, we are going to collapse NPO MATTER WHAT. The Hebes created “money: out of thin air. People know this. The Average Goy is LEARNING. Not merely clueless Americans – but all sorts of Global Goy. No matter how viciously the Talmudist try to surpress reality – reality IS reality.

    It’s all smoke and mirrors. They don’t have enough of either anymore, to sustain their scams, and keep the mass hypnosis going. Even is they try to kill off billions – it won’t work. They will create unprecedented horror – but once it’s done – it’s DONE,

    And so are they.

    Whatever comes after will end them for good.

    • mindweapon says:

      Denise,

      Isn’t it nice how we can all feel the hate together? I love your attitude toward this whole thing! You are the only WN I know who is actually more cheerful and optimstic than I am!

      • I wish I shared your optimism but the though of a huge percentage of White people suffering and dying doesn’t make me happy. Some of those people will probably be people I care deeply about. It might be me or a parent or child. Ya, not happy about it.

      • Denise says:

        Sorry about the chronic typos. I am so busy these days, and I am doing hit and run stuff online.

        Cheerful? Ummm…I dunno if that’s the correct way to describe the way I feel.
        I think being dour, and miserable is not helpful. Period. I have my moments of sheer, mind boggled horror at the peril of our Race. However – it’s Autumn. It’s BEAUTIFUL. The world is still BEAUITIFUL. Any bad thing can happen to any-one, as the normal course of events. We still must live our lives, and try to make the best of our lives. We OWE it to ourselves, our loves ones, and our Race.

        I went to a fun local event tonight. All White folks. I met folks I have not met before, and just began talking and socializing. I nice married lady, about my age, stopped in with her hubby and son. I was there with my hubby, who knows EVERY-ONE. She was a wee boozed up, form wine at dinner, and was very chatty. That’s the nice thing about women – we’ll talk to each other at the drop of a hat. Anyway – we began talking about all sorts of things. She was talking about her kids. He daughter just graduated High School. Even though the hubby has a VERY good job – no one is secure, and the lady began talking about her daughter and son’s future. She’s worried. We began talking aobut all sorts of things, in the Changing Economy.

        One thing led to another.

        I got into a HUGE discussion with her, and her teenaged son. He was soaking in every word I said. The kid is obviously SUPER bright. We began talking about Obamacare, and what it’s going to do – crush the economy.. I told them that it’s all about Communism. I did NOT get into an overtly Racial discussion…but I did give the boy some tips on what to research. The Mom, like most women, wants everything to be “nice”. Thing is – her kids matter more than anything to her. As it should be. So the well being of her kids will come first and last, when the crunch comes. The family is very posh. Very tight family. They wil ltake care of each other. The Dad knows the score – but again – Nice White People don’t want to be “negative”. When they finally comprehend what’s happened to Nice White World – they will DEAL. They will learn. They will get on board. The Posh Ones, like this family, are on a high Racial Learning Curve – but they will learn, or die.

        They left early, cause the boy will to be reading Scripture in Church tomorrow (I’m a Christian – and I know who to work my crowd). They wanted to go home and get in some practice. When they left – I began chatting with some more backwoods, working class types. Then the conversation got really real. I was a bit boozed up, and expansive, shall we say.

        Woo BOY!

        Let’s just say that lots of Whites GET it – and they will know EXACTLY how to handle themselves when Ragna begins to really rock!!!

        One of the guys told me that he knew something works was going to happen, after 9/11 – and it did. “We got Obama. He’s worse than 9/11!”. These guys are completely hi to Racial reality. I believe in my Volk.

        So – I am realistically optimistic. I think our Racial Peril is DREADFUL – but we need to stop whining, and sulking, and moaning, and have some FUN with the End of Civilization as We Know It.

        We will fight, or perish. And if we live -the White Out Group Altruism Gene will be GONE forever. The hardiest and savviest will make it through. We will lose the genetic flotsam

        The one guy hugged me, when I began to use WN terminology. But my fondest part of the evening was the light I saw in the boy’s intelligent, searching face. I know I’ve sent him on a very interesting path. He’s our future. And he, and all our other Beautiful Bright White Children are WHY we MUST keep that White Flame alive.

      • mindweapon says:

        Denise,

        You are so lucky that you are able to truth your neighbors. It makes for great stories doesn’t it? Be write down and print out your encounters with your neighbors — they will become historical documents if you do.

        The Jewish Communist civil rights movement naturally failed to fulfill it’s false promises that black empowerment would not hurt whites, and now white are fighting for our very lives. All the rhetoric that is applied to the JC CR movement ironically is more applicable to us in reality.

        We are the scapegoats. We are the analogs to the Jews in Nazi Germany.

        I wonder how effective it would be to use this as a rhetorical device. It’s certainly true, but would it be too demoralizing, or would it be that wake up call that people need? JC’s will certainly scoff at the notion, but their scoffing is losing its polemic impact.

      • Thanks Denise. I’ve had nights like this and I live for them.

        It is what it is, so I make the best of it.

  2. WhiteGenY says:

    There is still a lot of plunder present in the current system. What’s stopping a intelligent MW from finding a way to get as much loot as they can for themselves? I guarantee a lot of public sector “workers” are doing that right now.

    • mindweapon says:

      As Rothschild said, “the time to make money is when there is blood in the streets.” I have 10 shares of DOG, which is an ETF that bets on the Dow going down. I should get a few more. The funny thing is that oil will probably go down too, because of demand destruction, so I’d be short oil.

      • StukaPilot says:

        Bloomberg bunk, all aimed at getting the debt limit raised. Which the Universal JewParty will do, after the usual theatrics. Interest on current debt is c. $300-400 billion/year. Real tax revenues are c. $2.3-2.4 trillion. W/o raising the debt limit, ZOG can pay current interest and still have c. $2 trillion of real money to fund the welfare/warfare state. What the Demoncrats/Repukes are actually arguing about is how much additional debtbux to allocate to each stateist end. Actual default will only come when interest rates rise toward 10%, or the dollar itself collapses. I’d guesstimate we still have a few months to mentally and physically weapon up.

      • mindweapon says:

        So on the one hand its bunk, but on the other hand the shit will collapse in a few months?

        You funny guy!

    • Denise says:

      Get EVERYTHING you can get your greedy little hands on. Stop being “nice”. WE have already paid for everything, anyways. Why sweat and toil to feed and breed our Racial competitors. Get EVERYTHING you can.

  3. Pingback: Peter Schiff | The West’s Darkest Hour

  4. Oh and I predict that the Fauxpublicans will cave. This has all been for show.

  5. MOISHE (NOT) says:

    I AM OPTIMISTIC TOO – BELEIVE OR NOT, I SEE A LIGHT AT THE END OF A VERY DARK, NASTY TUNNEL – BUT OUR GENEAOLOGY WILL WIN OUT – THE RAT-PEOPLE ARE ABANDONING THE J.USS AMERICA WITH RUTHLESSNESS – THEY SEE EURASIA AS THE NEXT STOPPING POINT TO ROB, STEAL, AND DESTROY – BUT I THINK THE ASIANS ARE MORE IN-GROUPISH THAN US WHITES AND THE YIDS WILL HAVE A HARD TIME INFILTRATING THE ASIAN HIVE-MIND. I WOULDNT WANT TO BE A JEW FOR ANYTHING IN THE WORLD THOUGH – DESPITE THEIR HUBRIS, ARROGANCE AND THEFT OF EVERYTHING THEY CAN GET THEIR NASTY LITTLE PAWS ONTO – THEY ARE GOING TO PAY BIG-TIME KARMA FOR WHAT THEY HAVE DONE – THEY KNOW IT – IT GNAWS AWAY AT THEIR INSIDES – I WOULDNT WANT TO HAVE THAT MIND-SET FOR ALL THE MONEY IN THE WORLD – THEY ARE REALLY ARE A CURSED BUNCH. BUT ON THE FLIP SIDE – I BELEIVE THAT HATE CAN SOMETIMES SINK TO THEIR LEVEL OF CONSCIOUSNESS – WHEN I WORKED IN PALESTINE AT THE CHECKPOINTS TRYING TO GET ‘ISRAELI’ SOLDIERS TO MODERATE THEIR BEHAVIOUR WITH PALESTINIANS (I WAS IN THE ISM) – THE BEST WAY TO DEAL WITH THOSE DEMONIC BASTARDS WAS NOT TO MEET HATE WITH HATE – WE IGNORED THEM AS MUCH AS POSSIBLE – AND USED HUMOUR TO DEFEAT THEM – THEY ARE REALLY INSECURE FUCKERS AND I PITIED THEM BECAUSE I KNOW THAT THEY ARE TORTURED SOULS – AND THEY WILL GET THEIR CUMMUPPANCE MY AMERICAN BROS AND SISTERS ON THIS WEB – I AM TRULLY SORRY FOR WHAT THEY ARE DOING TO THE ONCE WONDERFUL UNITED STATES OF AMERICA – BUT PEOPLE LIKE US ON THIS SITE – MAKE THE JEWS SHIT THEIR PANTS! – SOME OF US HAVE LEFT THE PLANTATION – AND WE AINT GOING BACK!!!

  6. mark says:

    Quoting from the article:
    #12 Bloomberg: “Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.” A U.S. debt default could be the trigger for the “nightmare scenario” that so many people have been writing about in recent years. In fact, it could greatly accelerate the timetable for the inevitable economic collapse that is coming.

    In other words, it would greatly accelerate the process and timetable of White racial salvation and create the social, political and on-the-ground tactical conditions that would permit White men to get rid of their enemies. Bring it on!

    • mindweapon says:

      Exactly! Look at the comments about EBT cards down in Mass. I can’t believe Fitchburg has a bunch of Hispanics now! WTF?

      Liberals say Whties must pander to Hispanics and Blacks because they breed more voters than we do, because of their EBT and other benefits that we don’t get. Breeding lots of neglected chilluns on welfare who will grow up and do the same doesn’t make for a sustainable country.

      All we really need up north here is for the welfare classes to not get heating oil or electricity. They get cold enough, they will pack their shit and head Due South. If some misguided whites take them in, they’ll win their very own darwin awards. But word will get around, and people who can’t heat their dwellings without Uncle Sam’s help will not be able to remain up here.

  7. meh says:

    http://michaelgraham.com/reports-from-listeners-that-ebt-system-shutdown-has-hit-massachusetts/

    Reports From Listeners That EBT System Shutdown Has Hit Massachusetts–Updates From Fitchburg, Methuen And Even Maine!
    Posted on 10/12/2013

    ma ebt card

    If you haven’t heard, the same government-approve, taxpayer-contracted super-geniuses who will be in charge of your healthcare have crashed the EBT system.

    People in Ohio, Michigan and 15 other states found themselves unable to use their food stamp debit-style cards on Saturday, after a routine check by vendor Xerox Corp. resulted in a system failure.

    The electronic benefits system experienced a temporary shutdown during a routine test of Xerox back-up systems, company spokeswoman Jennifer Wasmer said Saturday.

    Media reports indicate it’s hit Massachusetts:

    Scattered outages across the nation are preventing some stores here in western Massachusetts from accepting SNAP EBT cards.

    22News has gotten reports from many viewers saying that they’ve been unable to use their EBT cards at stores for purchases, and even at some ATMs.

    Similar reports are coming in from around the country:

    ebt down walmart georgia

    Just got this note from one of my listeners:

    Hi Michael Thought you might want to know, the EBT system at Walmart just went down, shoppers are pissed. Walking out the door leaving behind their over filled carts…Lol Walpole Walmart

    And this:

    FYI, The Market Basket in Chelsea just announced their food stamp system is down! People are screaming. Got a Tweet from a cousin there. Apocalypse Now – In Chelsea! Lol…

    And this one from Methuen, MA:

    Just came from grocery store and there are signs in spanish and english everywhere from coming into the store, deli, frozen foods you name it that you cannot use EBT/Food Stamp cards because phone lines are down. The front of the store was jammed and deli counter full (Red Socks game tonight?) and after announcement in spanish and english store emptied out and parking lot.

    They were telling people ATM machine in front of store….Michael, the Republicans will get the blame!

    UPDATE! MORE REPORTS COMING IN!

    I work at CVS and the system is down. I had a woman have me try both her ebt cards at the register before she believed me.

    –Toni in Brighton

    Michael,

    EBT is down at Market Basket in Fitchburg. Announced in English and Spanish. I was wondering why the parking lot was filled with people just hanging out, waiting I guess. I had the store all to myself 🙂 –Kristen

    Hi Michael;

    Displaced Bostonian here – wanted to let you know that the EBT website, here in Maine, is down too. – Linda

    Michael,

    I was at the market basket in Brockton when it was announced. The poor manager was telling people “its the system” and “yelling isn’t gonna help.” There were abandoned carriages all over the store. It was great I couldn’t help laughing but I did feel bad for the high school kids at the registrar who were getting screamed and insulted and threatened for something that was not their fault. –Paul

    It looks like my Methuen listener may be onto something:

    @SpeakerBoehner Please help us. Now we can’t us our food stamps. Is the government trying to starves those in need?

    — Ms_Realitygirl (@MsHairChic) October 12, 2013

    If you’ve had an encounter with a rejected EBT user or been in a store where the system is down, please email me Michael@michaelgraham.com with your “on-the-scene” report.

    Of course, we know one business that won’t be affected. Our friend–and EBT reform leader–Andrea Taber at Ever So Humble Pies!

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