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Intentional default?

02 Aug

Dems Favor Federal Bailout of Detroit

But Majority of Public Opposed

IF these scoundrels get their way, I know of one town (at least) that will intentionally default of some Federal Government loans.  These were 40 year notes (originally), with 10 years time left on them.  Payments are being made, and will continue to be made.  However, should Detroit receive a bailout for their mis-deeds, criminal activities, and malfeasance, this town will not be making further payments. 

That said, this is just one small American town.  It will most certainly have to get in the line of intentional defaults, which will certainly spread like cancer or pandemic.  No doubt thousands of cities, towns, and counties that are making their payments, as agreed, will do the same.   Many of those are in worse shape than the town of which I refer.  There are hundreds (perhaps thousands) of such places that are already on the verge of their own bankruptcy. 

This is one of the unintended consequences we have not considered, that could very well shut down the entire Federal government.  I seriously doubt that TPTwB has thought this out either.  For without these (massive) payments, our Federal Government will not long stand. 

The Federal Reserve is printing 85 billion dollars per month now, doing its QE.  They cannot add another 100 billion to that number and expect to stand for more than a couple of months.  Not that they would even try to be so bold.  If the Federal Government passes this bailout and the other grant recipients decide to default like Detroit, the system will breakdown inside of two months. 

They have probably never planned something this into their balance sheet.  Or have they?

Benjamin Franklin, when once asked what he thought the English government would do about a particular subject.  Whether we could yet hope for a resolution to the coming storm, he said,

“…given the choice between doing what is right and doing what is not right , His Majesty’s government will take the latter course every time.” 

The same can be said about the “System” we have today.  Therefore, we can expect the Federal Government, under the auspices of the Kenyan, to bail out the failed City of Detroit.  How the rest of the country will respond remains to be seen.

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20 Comments

Posted by on August 2, 2013 in Uncategorized

 

20 responses to “Intentional default?

  1. Dannyboy53

    August 2, 2013 at 5:56 pm

    These “bankruptcy” schemes are just that in my opinion, deliberate waste, fraud, excess spending, etc in order to overburden the system and cause a collapse. Bankruptcy is just a nice name for money laundering in these cases.

     
    • The Soffitrat

      August 2, 2013 at 7:46 pm

      Yes, but if municipalities and Counties determine that it is not in their best interests or that they should not have to honor contract that Detroit didn’t have to honor, then the system collapses. On the People’s timing, not the Government’s. Not the Kenyan’s. Not the Dems. They aren’t quite ready yet, and an early collapse could collapse their whole plan!

       
      • Dannyboy53

        August 2, 2013 at 10:45 pm

        Yes Soffitrat I agree, this could, if they don’t play their cards right it seems, backfire on a lot of them. Some could stand to lose the personal wealth they have stolen or cheated hard working taxpayers out of theirs over the years. But I can see LOTS of cities going bankrupt at some point in the future. When it starts I believe it will be like dominoes falling and that will be at least one sign of the end of our economy.

        With a total collapse what will the communist do? Start selling off all the oil & natural gas reserves in the world market that they have been hoarding in this country for the past several decades? Communism is parasitic by nature, they have to generate income in some fashion in order to survive.

         
        • The Soffitrat

          August 3, 2013 at 1:21 pm

          Take the USDA, for example. One wouldn’t know it, but that agency is a major player in making “Grants” to Municipalities. You know? New Sewer plant? New Streets? New Water Lines? Well, with these so-called “Grants”, come matching notes. Your local politicians only see the “Grant” word. They only focus on the “Free Money” part. Then, they go out (and over the years) build schools, parks, pools, blah, blah, blah. They stack on so many “Grants” (each carrying an associated Bank Note) that the Municipality can’t possibly pay them, without raising taxes, writing parking tickets, etc., etc., etc.

          Citizens don’t like that. But then, they (themselves) are the one’s who permitted this to happen to themselves. I laugh when I hear them bitch. Because, I know they like their shit to go away when they hit the toilet.

          Now, if the Feds bail out Detroit? All re-payment bets are off. They just gave every debtor a rational, justifiable, way out!

           
  2. Dannyboy53

    August 3, 2013 at 5:36 pm

    What an iconic statement! “…they like their shit to go away when they hit the toilet.” We need a toilet handle on Washington District of Criminals!!! You’re right Soffitrat, people want things to work in their neighborhood and they don’t think about or care about what it cost them. It seems as though they think this is the “government’s” money being used and the governments’ pockets are deep. It’s as though they are living under the protection of a “sugar daddy” that can and will fix everything and provide whatever they need/want for FREE!

     
    • The Soffitrat

      August 3, 2013 at 8:04 pm

      Our problems begin right at home. With our local governments. They aren’t run that much different than the national level. It is, after all, a training ground. It’s where good Americans learn how to be thieving scum. Believe it or not, the people’s biggest problem is that they DON’T think. The apathetic zombies deserve what they get. AND they aren’t going to like what they are about to get. Perhaps our only hope is for something like this to take place. It was not put in place by any well-thought-out scheming. It is truly a fluke. But this fluke might be what it takes to finally get the ball of collapse rolling. It gives a new meaning to the phrase of, “Being too smart. By half…”.

       
      • Dannyboy53

        August 3, 2013 at 9:05 pm

        Exactly. Some STILL think this intrusion of our Constitutional way of life can be defeated at the polls, I find this incredible! It ain’t gonna happen in a hundred years. The usurpers will not allow it, by hook or crook those attempts will be stopped, we’ve already seen evidence of that. The only method that I see that has a (extremely remote) possibility of a peaceful solution is for all the states to declare the regime defunct…null and void, and begin operating as they (states) were intended to by our Founders.

        I see no signs of that happening, on the scale it needs to happen, anytime soon.

         
        • The Soffitrat

          August 3, 2013 at 9:26 pm

          Fully, one third of our “States” are in agreement with the Feds. These are the blue states, who lost their grip on reality years ago. They are all but Communist already. Have been for years. Detroit is but one example of what their preference offers them in the way of a future. Yet, they continue to hold fast to their misguided belief that (somehow) Communism is good. In the face of history such as in the Ukraine, they continue to believe in that which they know nothing. All, based (most likely) on the mere statement by an agendized professor, an illiterate High School teacher, or some other uneducated, pot-smoking friend.

          Meanwhile, towns, cities, and counties (among other entities) have “granted” themselves into the poor house. Almost all of them run budget deficits and many are already dead. Some know it, some do not.

           
  3. Dannyboy53

    August 3, 2013 at 10:37 pm

    You’re right, that’s the reason I said it probably will not happen…it needs to but won’t! The regime dangles a sack full of money in front of their cash-strapped faces and they jump like frogs. They feel they have no other choice, because they’re broke, but if they stopped sending money to the Dist. of Criminals they would have all they needed.

    Go figure!

     
  4. Jamie

    August 4, 2013 at 11:00 am

    Danny I think will crash mainly because of math. The elites think they can suspend the laws of math, eonomics and people looking after their own self interest, but they can’t!
    Why is a 70% consumer economy not recoverying? Because people are broke and up to their eyeballs in debt. Using the house as a “piggy bank” no longer works to keep the spending going.
    Housing will not boom again nationally simply because of demographics. The boomers want to downsize and the Millenials already have a house worth of debt with Student loans, Sub-prime car loans and credit card debt. Plus every generation after the Boomers is just smaller population wise.
    But the PTBs can’t be troubled by something as mundane as “Cause and Effect”.

     
    • Dannyboy53

      August 4, 2013 at 11:36 am

      I think you are right Jamie, our country is being beat down with their bogus math/numbers. My wife and I quit trying to make our five daughters understand this. They fully understand that our country is going down the toilet and who is behind it all. They just aren’t getting it from an economic standpoint! Personally Mary and I do not like credit, we think it is a bad thing in today’s world and do not have credit cards. Our kids are struggling with credit cards…it’s convenient!

       
      • The Soffitrat

        August 4, 2013 at 1:07 pm

        Danny. Your daughters are ‘normal’ in today’s insane world. They will default just like everyone else. Will there be anyone to collect? That is the big question. If there is, they will lose everything and become slaves in the land that our fathers conquered. If there is not, we are all in deep shit. But at least our so-called leaders, and bureaucrats (the one’s responsible) will not be suffering along with us.

         
        • Dannyboy53

          August 4, 2013 at 3:34 pm

          My daughters are “maddeningly” normal (?) in that respect! We stay out of their business unless they ask for advice but when they ask for it I pull no punches. They always start off with “how do you do that?” but then never follow the advice they asked for!

          They will learn one way or another.

           
      • Jamie

        August 4, 2013 at 1:07 pm

        I agree on the credit cards. I haven’t had a cc in over five years and I got an 715 credit rating when I did my refi. I always was told I had to have credit cards to build a credit rating but it is a lie! I just paid my bills on time, got a small 2 year loan for my used mini-van from the Credit Union that I paid off early and I’m taking out a small two year loan for the stove and will pay it off early. I’m getting a lot better Fixed rate of interest on the loan from the credit union than I can get from any credit card and the Credit card company can’t change the rules of the contract on me.

        It seems very few people consider the COST to borrow money. All they seem to look at is the monthly payment never the interest.

         
        • The Soffitrat

          August 4, 2013 at 1:09 pm

          But you make too much sense. You moron… 😀

           
        • Dannyboy53

          August 4, 2013 at 3:27 pm

          EXACTLY Jamie! The cost they are paying to borrow is one thing I try to get them to understand. Mary and I have paid off our mortgage, we have no debt so it is easy for us to say if we can’t pay cash for something we will do without it. Many people do not have that option, most notably younger people that are just starting out! It’s just that they must, as you demonstrate, use caution and good sense when applying for loans.

          For example, as much as possible make extra payments each month to be applied to the principal of a loan, it’s surprising how much this will save in interest over a period of time by shortening the duration of the loan. Mary and I have been willing to sacrifice what we wanted back THEN to get what we have NOW!

          My daughters would rather live for NOW, spending their disposable income on cars, guns, horses, etc, and struggling with payments and living expenses. I find that amazing!

           
  5. Jamie

    August 4, 2013 at 4:52 pm

    Dannyboy: I’m sorry to say I was just like your kids until I got disabled. I found out I was just renting all those toys. When I couldn’t make the payments the stuff all went back and I found out I didn’t own anything!
    My parents saved my bacon so I didn’t lose the house or my car but everything else I was making payments on was gone! I think my Dad was a little bit stunned when I didn’t ask him for help with the wood stove and installation. He has gotten used to the kids asking to be bailed out or loans that turn into gifts. I don’t think he will believe me untill the stove is intalled.All us kids are in are in our mid to late 40’s about time we growup and take care of ourselves!

    rat: I know that’s why I’m probably on several of the PTBs list cause I won’t play the game.

     
    • Dannyboy53

      August 4, 2013 at 7:28 pm

      Everybody needs a little help now and then and there is no shame in asking for or accepting it! Mary and I have been in some tight spots through the years and if not for her mom or some friends I honestly don’t know what we would have done. Well, just picked up the pieces and continued to march, that’s about all one can do! It ain’t how many times one is down that counts, it’s how many times you get back up.

      From what I have gleaned from reading your posts the past month or so you have done very well for yourself. As or being on the lists of the PTB…keep sticking your finger in their eye buddy.

      It isn’t as daring as walking a tightrope but it’s still a helluva hoot!

       
  6. The Soffitrat

    August 4, 2013 at 4:53 pm

    That is why we are morons. In today’s world, only the sane seem insane.

     
  7. Dannyboy53

    August 16, 2013 at 10:27 am

    More on cities in the U.S. going bankrupt. I believe there is more to this than simply bailing out cities for mismanaged finances. This looks like some nightmare out of the “Sustainable Development” program right out of the Agenda 21. More land grabbing and “diversity” crap meaning (I believe) they intend to force people to shift locations between the country to cities and suburban areas thus concentrating them for easier control.

    List of bankrupt major cities in the U.S.:

    – City of Detroit – Mayor David Bing is a Democrat

    – City of San Bernardino, CA – Mayor Patrick Morris is a Democrat

    – Town of Mammoth Lakes, CA – Mayor Jo Bacon is a Democrat

    – City of Stockton, CA – Mayor Ann Johnston is a Democrat

    – Jefferson County, AL – Mayor William Bell is a Democrat

    – City of Harrisburg, PA – Mayor Linda D. Thompson is a Democrat

    – City of Central Falls, RI – Mayor James Diossa is a Democrat

    – Boise County, ID – Mayor David Bieter is a Democrat

    If TPTB are monitoring this post I’ll save them the trouble of having to find out later. I am NOT moving into any city, God has yet to create the man or entity that can/will make me leave MY property. I WILL use WHATEVER force is necessary to live out my life on this property, if that is cut short…so be it. The nerve of these arrogant snakes usurping our country that think I will comply with their communist ideals is going to cause the bloodshed of a lot of innocent people.

    Not that I give a big fat sewer rats’ gluteus maximus at this point in time. Damn the articles of the Hague convention, (which we are not bound to as individuals anyway) I ask no quarter and none will be given.

    Now I’m really pissed off.

     

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