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Author Topic: Default on the debt? What about the bondholders?  (Read 1972 times)

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Offline CC27

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Default on the debt? What about the bondholders?
« on: January 03, 2011, 08:22:39 AM »
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Joanne98 Donating Member (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list    Mon Jan-03-11 09:03 AM
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Default on the debt? What about the bondholders?
   

Michele Bachmann wants to default on the debt. Does this mean she thinks the bondholders should take a haircut? WOW! I actually AGREE with Michele Bachmann. I can't believe it. I mAy even go sign her "Don't raise the debt limit" petition!

Oh the irony! If we default on the debt that means the bondholders don't get paid. And all because the Republicans want to give the RICH ANOTHER TAX CUT! And who are these rich people? Well they're BONDHOLDERS for the most part! So Michele Bachmann wants to screw bondhonders so she can give bondholders a tax cut!

Do you think she knows that? LOL

I don't think they've thought this through. There are actually good arguments for defaulting on the debt. Here's a few.......

Since the end of World War 2 the United States has been spending trillions of dollars to keep the world safe for CAPITALISM! The American taxpayer has been forced to pay for EVERYBODY's security so they can go around this world SCREWING PEOPLE without getting killed by angry victims!

According to the warmongers, we saved Western Europe from the horror of communism by spending trillions of dollars in the cold war.

Then we spread the glories of globalization, at the point of a gun, by spending trillions of dollars on the military policeman USA USA USA! Keeping the world safe for CAPITALISM.

Gee, when you think about it, a lot of our debt holders are rich people in Europe who wouldn't even have any money at ALL if it wasn't for US spending trillions of dollars to make sure the Russians didn't ROB THEIR ASSES! The very same bondholders who NOW, that the world is in trouble, are REFUSING TO TAKE A HAIRCUT! They are refusing to sacrifice one little tiny penny to help out! HOW UNGRATEFUL OF THEM!

And China? Would China even have any money to loan us if we haven't GIVEN THEM ALL OUR JOBS! How generous of us! And NOW they want paid? Shouldn't we charge them a JOB TRANSFER FEE or something?

If you think about it. The bondholders wouldn't have any money or even be alive if we haven't spent trillions of dollars protecting their asses! Which we spent by ourselves without ANY help from them. And NOW they want PAID? I say we send them a BILL FOR SECURITY SERVICES!

Western Europe.. YOUR BONDHOLDERS OWE US...FIVE TRILLIONS DOLLARS!
The cold war cost about 10 trillion so we'll split the bill. That's only fair! I mean you'd probably be DEAD or in a GULAG if it wasn't for us!

And China? How much is 10 million jobs worth? That's got to be worth about 2 trillion. I mean it's a permanent transfer of wealth and will keep generating income for decades. Without OUR JOBS your people would revolt and tear down the great Chinese miracle and the "Princes" would have to WORK for a living! SHUDDER!

And how about Saudi Arabia. All the money WE spent keeping the Persian Gulf open, so the Royals could keep the oil flowing. How much is that worth? I couple of trillion at least!

So here's the BILL....

Europe 5 trillion
China 2 trillion
Saudis 2 trillion
-------------------
9 trillion dollars

That will work.

I don't think the Republicans have thought this through. This is a GREAT ****ing idea!

We can pay off the debt with the BONDHOLDER's money. WHOA! Michele Bachmann's a genius!

I LOVE this idea! LET'S DO IT!

Huh? Anybody else know what she is talking about?  :mental:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x108474
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Offline ReaganForRushmore

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Re: Default on the debt? What about the bondholders?
« Reply #1 on: January 03, 2011, 08:28:25 AM »
A flashback from the new years.
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Offline thundley4

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Re: Default on the debt? What about the bondholders?
« Reply #2 on: January 03, 2011, 08:49:07 AM »
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Default on the debt? What about the bondholders?

DUmmies didn't give a rat's ass about the bond holders and others that were owed money by GM when Obeywon took them over.
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Offline JohnnyReb

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Re: Default on the debt? What about the bondholders?
« Reply #3 on: January 03, 2011, 09:01:35 AM »
Quote from: thundley4 on January 03, 2011, 08:49:07 AM
DUmmies didn't give a rat's ass about the bond holders and others that were owed money by GM when Obeywon took them over.

Yeah, but this time they need to blame it on republicans.
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Offline jukin

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Re: Default on the debt? What about the bondholders?
« Reply #4 on: January 03, 2011, 09:41:36 AM »
Ask the Chrysler and GM bond holders about that.
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Offline Celtic Rose

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Re: Default on the debt? What about the bondholders?
« Reply #5 on: January 03, 2011, 11:14:42 AM »
The only even slightly related news item I can find only mentions that Bachmann opposes raising the debt ceiling and borrowing even more money.  It appears that DUmmy made the jump from not borrowing more money to not paying debts all by themselves, unless somebody has more information on what she has said. 

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"Stop spending money that you do not have," said Republican Congresswoman Michele Bachmann of Minnesota on CBS' Face The Nation program, noting America's trillion-dollar federal deficit and the runaway U.S. national debt. 

Link
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Offline true_blood

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Re: Default on the debt? What about the bondholders?
« Reply #6 on: January 03, 2011, 11:26:23 AM »
Here, the primitive Joanne has it all figured out. ::) ::) :whatever:
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Joanne98  Donating Member  (1000+ posts)    Mon Jan-03-11 09:29 AM
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7. If they don't like it they can ship some of our jobs back. Then our people could work again and pay taxes so we could raise the money to pay them back. sounds fair to me.
I wonder why jobs are going overseas DUmmie? Is it because the corporate tax is overwhelming to begin with? Wow, you people just don't get it.
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Offline DefiantSix

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Re: Default on the debt? What about the bondholders?
« Reply #7 on: January 03, 2011, 11:27:46 AM »
Quote from: Celtic Rose on January 03, 2011, 11:14:42 AM
The only even slightly related news item I can find only mentions that Bachmann opposes raising the debt ceiling and borrowing even more money.  It appears that DUmmy made the jump from not borrowing more money to not paying debts all by themselves, unless somebody has more information on what she has said. 

Link

Being as how the only source for this tidbit - thus far - is the DUmp Monkey(s) in question, the probability that they just pulled this convenient little "factoid" out of their colons - much like they do for the majority of their most deeply cherished memes - is significant, and certainly not dismissible.
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Offline GOBUCKS

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Re: Default on the debt? What about the bondholders?
« Reply #8 on: January 03, 2011, 12:08:41 PM »
Refusing to raise the debt ceiling and forcing default on the good faith and credit of the United States is a hare-brained idea that DUmmies would love, since it would mortally wound America.
No one with half a brain will support the idea, beyond lip service to stay connected with a tiny sliver of their backers at home. We are more likely to see Kucinich installed as chairman of the UFO caucus.
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Offline jukin

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Re: Default on the debt? What about the bondholders?
« Reply #9 on: January 03, 2011, 05:40:17 PM »
If you owe a million dollars you have a problem. If you owe $14 trillion dollars your creditors have a problem.
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When you are the beneficiary of someone’s kindness and generosity, it produces a sense of gratitude and community.

When you are the beneficiary of a policy that steals from someone and gives it to you in return for your vote, it produces a sense of entitlement and dependency.

Offline zeitgeist

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Re: Default on the debt? What about the bondholders?
« Reply #10 on: January 03, 2011, 06:23:39 PM »
And this was in my morning fish wrap:


http://www.wsbt.com/business/ct-biz-1229-gail-municipal-bonds-20101229,0,4219593.column

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Investors are panicky about losing their money in municipal bonds and have been calling their financial advisers for assurances since a recent "60 Minutes" TV show predicted massive bond defaults by local governments over the next 12 months.

"When people hear 'defaults,' they imagine bankruptcy like a Madoff event, with their money gone," said Lewis Altfest, a New York financial adviser who's been getting some of those nervous calls. "It's difficult for individuals psychologically because they think of bonds as their safe area, their no-worry zone."

{snip}



Trustifarians like Pittstain could be in real trouble when the munis go bust trying to pay unsustainable public pension costs.  Lots of folk took a bath on GM / Chrysler bonds. More may be getting in line with munis.



“No tree grows to the sky”

The pension bubble is the new Gorilla in the room.
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Offline jukin

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Re: Default on the debt? What about the bondholders?
« Reply #11 on: January 03, 2011, 07:50:51 PM »
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Trustifarians like Pittstain could be in real trouble when the munis go bust trying to pay unsustainable public pension costs.  Lots of folk took a bath on GM / Chrysler bonds. More may be getting in line with munis.

BINGO!

All of the old leftist money is in muni bonds to assure the least amount of tax liability.
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When you are the beneficiary of someone’s kindness and generosity, it produces a sense of gratitude and community.

When you are the beneficiary of a policy that steals from someone and gives it to you in return for your vote, it produces a sense of entitlement and dependency.

Offline zeitgeist

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Re: Default on the debt? What about the bondholders?
« Reply #12 on: January 04, 2011, 07:06:29 PM »
Quote from: jukin on January 03, 2011, 07:50:51 PM
BINGO!

All of the old leftist money is in muni bonds to assure the least amount of tax liability.

Whhhhhhat? I thought it was because they were so much more socially responsible.  :thatsright:

And around here they also have large investments in real estate which will suffer from increasing taxes to fund the Cadillac Public Pensioners. 

First the get killed in the market, then get their throat slit in Munis, then get gutted with higher taxes, and are finally hung out to dry with a redistribution of their 401k's.  Trustifarians.  A dying breed.

How will CalPig and her ilk buy those silk scarves to hide the Adam's apple? :fuelfire:
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