Those fuckers! Fiscal Cliff Rolled Back!

[Lethn]

Those can kicking masters have done it, now it looks like the world is going to be in for one hell of a recession, perhaps a depression.

http://www.guardian.co.uk/world/2012/dec/31/fiscal-cliff-congress-deadline-live

For once I agree with the daft reporters, these politicians really are masters at kicking the can down the road? How the hell do they do it and get away with it so easily? Pop goes the bubble!

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[benjamindees]

America, you have now gone over the fiscal cliff. Do not pass go, do not collect $200. All retweets are now considered endorsements. The price of milk is now $170 a litre – yes, a litre, because everything is now METRIC.

I can live with this.

[ImNotHerb]

How the hell do they do it and get away with it so easily?

Simple. They have a "job" that only comes up for "review" once every two, four, or six years (for Congress, President, and Senate, respectively) and their accountability is limited to either being retained or not according to how the great swarming mass of people vote. If they fail the "review", they simply move into a cushy lobbyist or corporate position, and if they pass, they continue feathering their nest for another 2, 4, or 6 years.

The system is the scam of the millennium, and such results are anything but "unexpected".

[benjamindees]

Speaking of economics and cliffs, this seems relevant:

benjamindees 3 years ago

"If it were unprofitable to drive off that cliff, we will be able to stop before we get there."

*jams accelerator*

*jumps out of car*

[TheButterZone]

Can't US.gov just declare bankruptcy already, shut down and liquidate to pay back everyone already?

[Lethn]

Can't US.gov just declare bankruptcy already, shut down and liquidate to pay back everyone already?

That would mean admitting that they were wrong, which no mainstream politician ever seems to be able to do.

[KWH]

How the hell do they do it and get away with it so easily?

Simple. They have a "job" that only comes up for "review" once every two, four, or six years (for Congress, President, and Senate, respectively) and their accountability is limited to either being retained or not according to how the great swarming mass of people vote. If they fail the "review", they simply move into a cushy lobbyist or corporate position, and if they pass, they continue feathering their nest for another 2, 4, or 6 years.

The system is the scam of the millennium, and such results are anything but "unexpected".

This. We need term limits and knowledgeable voters. I know, too much to ask for.

[laughingbear]

Can't US.gov just declare bankruptcy already, shut down and liquidate to pay back everyone already?

You dont understand the monetary system.  It is not possible to pay everyone back.  ALL of our money, 100% of it, every single dollar in existence, was loaned to us, with interest.  If we paid back every dollar ever loaned to us, how would we pay back the interest?

[creativex]

Looks like just more of the same garbage from the one party US system. Loot the "rich", pilfer the bodies of the dead, give some scraps to the lazy and ignore everything inconvenient. The rich will shelter their funds or leave as ever and the poor and lazy will give back all they've been given and more through the inflation tax. The ruling class will pat themselves on the back, give themselves a raise and in a couple months we'll rinse and repeat.

[dotcom]

You expected a different result? Anyway, this is good news. Anything they might have done would have only delayed this moment, which is inevitable. At least now something real is going to happen -- there will be actual deficit reduction, government spending will be reduced, and people will start paying more of the cost their government entitlements.

>You expected a different result?

I did honestly, I thought they would pass some half-ass measure allowing us to limp on a little further whilst saving them face. However, just because that's what I expected doesn't mean I'm surprised by this result either.

[KWH]

You expected a different result? Anyway, this is good news. Anything they might have done would have only delayed this moment, which is inevitable. At least now something real is going to happen -- there will be actual deficit reduction, government spending will be reduced, and people will start paying more of the cost their government entitlements.

>You expected a different result?

I did honestly, I thought they would pass some half-ass measure allowing us to limp on a little further whilst saving them face. However, just because that's what I expected doesn't mean I'm surprised by this result either.

It has to pass the House next. I am hopeful that some of this garbage will be stripped and rewritten but hope springs eternal.
$1 in cuts per $41 in tax increases??

[myrkul]

How the hell do they do it and get away with it so easily?

Simple. They have a "job" that only comes up for "review" once every two, four, or six years (for Congress, President, and Senate, respectively) and their accountability is limited to either being retained or not according to how the great swarming mass of people vote. If they fail the "review", they simply move into a cushy lobbyist or corporate position, and if they pass, they continue feathering their nest for another 2, 4, or 6 years.

The system is the scam of the millennium, and such results are anything but "unexpected".

This. We need term limits and knowledgeable voters. I know, too much to ask for.

The incentives are all wrong. Every voter knows that their vote, individually, means next to nothing. Since their decision is practically meaningless, there's no incentive to make sure that decision is well-informed.

[dotcom]

How the hell do they do it and get away with it so easily?

Simple. They have a "job" that only comes up for "review" once every two, four, or six years (for Congress, President, and Senate, respectively) and their accountability is limited to either being retained or not according to how the great swarming mass of people vote. If they fail the "review", they simply move into a cushy lobbyist or corporate position, and if they pass, they continue feathering their nest for another 2, 4, or 6 years.

The system is the scam of the millennium, and such results are anything but "unexpected".

This. We need term limits and knowledgeable voters. I know, too much to ask for.

The incentives are all wrong. Every voter knows that their vote, individually, means next to nothing. Since their decision is practically meaningless, there's no incentive to make sure that decision is well-informed.

This, and there's enough misinformation spread by the various media organizations that voters can just sort of pick one and adopt their opinions from it. Which allows them to appear like they're informed and politically active, while saving them from doing any actual research themselves.

[Dalkore]

Can't US.gov just declare bankruptcy already, shut down and liquidate to pay back everyone already?

You dont understand the monetary system.  It is not possible to pay everyone back.  ALL of our money, 100% of it, every single dollar in existence, was loaned to us, with interest.  If we paid back every dollar ever loaned to us, how would we pay back the interest?

Yep, this highlights the major flaw in our monetary system.  The problem that  [P < P + I] (P = Principle I = Interest) - this is the math of a debt based monetary system.

[myrkul]

Can't US.gov just declare bankruptcy already, shut down and liquidate to pay back everyone already?

You dont understand the monetary system.  It is not possible to pay everyone back.  ALL of our money, 100% of it, every single dollar in existence, was loaned to us, with interest.  If we paid back every dollar ever loaned to us, how would we pay back the interest?

Yep, this highlights the major flaw in our monetary system.  The problem that  [P < P + I] (P = Principle I = Interest) - this is the math of a debt based monetary system.

That said, bankruptcy is probably the best option. Just shutter everything, sell off the assets, and tell whoever doesn't get paid back to go pound sand.

[Dalkore]

Can't US.gov just declare bankruptcy already, shut down and liquidate to pay back everyone already?

You dont understand the monetary system.  It is not possible to pay everyone back.  ALL of our money, 100% of it, every single dollar in existence, was loaned to us, with interest.  If we paid back every dollar ever loaned to us, how would we pay back the interest?

Yep, this highlights the major flaw in our monetary system.  The problem that  [P < P + I] (P = Principle I = Interest) - this is the math of a debt based monetary system.

That said, bankruptcy is probably the best option. Just shutter everything, sell off the assets, and tell whoever doesn't get paid back to go pound sand.

I agree, we are too far gone at this point.  We need to reset the system and flush all the bad debt out of the markets.

[creativex]

...and when the system is reset faith in the USD will be destroyed...enter AMERO!

[BCB]

As long as the USD is the World Currency the FED will just keep printing it.

And as long as the media shoves microphones and cameras in politicians faces they will bask in the warm glow of the kleig lights as they blame the other party for all the woes of the american economy.

Meanwhile this is all playing out according to the Council on Foreign Relations plan.

The US economy will eventually collapse.  The Eurozone will eventually collapse.  

Then the CFR will finally have a world currency with which they can dictate world policy.

[myrkul]

Then the CFR will finally have a world currency with which they can dictate world policy.

Bitcoin?

[creativex]

As long as the USD is the World Currency the FED will just keep printing it.

And as long as the media shoves microphones and cameras in politicians faces they will bask in the warm glow of the kleig lights as they blame the other party for all the woes of the american economy.

Meanwhile this is all playing out according to the Council on Foreign Relations plan.

The US economy will eventually collapse.  The Eurozone will eventually collapse.  

Then the CFR will finally have a world currency with which they can dictate world policy.

Agreed. Just gotta get those pesky guns out of our hands. It's so much easier to oppress an unarmed peoples.

Then the CFR will finally have a world currency with which they can dictate world policy.

Bitcoin?

How about some nice SDRs?