Tag Archives: debt ceiling

Denial in the Face of Default – commentary

US-Congress

US-Congress

Denial in the Face of Default

William Boardman, Nation of Change – Op-Ed : Published: Tuesday 15 October 2013

Why is surrender so often the President’s first option?

Debt Ceiling? What Debt Ceiling? That’s a unicorn in Congress’s garden!
For all the talk about the United States approaching a catastrophic Debt Ceiling and subsequent unprecedented but exceptional default that would have unpredictable but probably dire impact on pretty much everybody, one thing you don’t hear much is that There is No Debt Ceiling.   Continue reading

US Republicans using weapons of mass financial destruction- Sir Ronald Sanders

US Republicans using weapons of mass financial destruction

The impact of the government shutdown on the US economy, which is still the world’s largest economy, will be felt worldwide says Sir Ronald Sanders.

By Sir Ronald Sanders 

Sir Ronald Sanders

Sir Ronald Sanders

 Caribbean360 News – Barbados, Thursday October 3, 2013 – There will be a lot of rubbish in Washington over the next few days.  And, that rubbish is not only the garbage that is steadily piling up in the nation’s capital because of the government’s shut down.  It is also the quality of the Republican Party’s argument for refusing to pass a Budget that would allow the federal government to provide goods and services to the public.

While the Republicans have obstructed Budgets before – notably in late 1995 and early 1996 when Bill Clinton was President – there is more than a little racism toward this first non-White American President by the right wing Tea Party element even though they have not dared to say so.    Continue reading

Overdose: The Next Financial Crisis – video

Overdose: The Next Financial Crisis

With the US raising their debt ceiling, are we in a global bail-out bubble that will eventually burst? This doc offers a fresh insight into the greatest economic crisis of our age: the one still awaiting us.

The financial storm that has rocked the world began brewing in the US when congress pushed the idea of home ownership for all, propping up those who couldn’t make the down payments. When it all went wrong the government promised the biggest financial stimulus packages in history and gargantuan bailouts. But what crazed logic is that: propping up debt with more debt? “They’re giving alcohol to a drunk: it just sets him up for a bigger hangover.”

Follow us on Facebook (http://goo.gl/YRw42) or Twitter (http://www.twitter.com/journeymanvod)