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July 21st, 2011 at 11:40 am
Of course. Bernanke will do what he did last year … announce that the fed will buy all this bad paper in some obscure journal, so that his former employers at Goldmann Sachs can buy them all up and sell them back to us at top dollar.
They make a bundle, and the fed gets to print more zimbabwe dollars.
July 21st, 2011 at 12:39 pm
I was astonished to read in that article that it is PRESUMED that the gummint will just print the checks anyway, knowing that they are bad. That’s a crime, both at the Federal and at the State level. Should I come into possession of one of those checks, I would march down to my police HQ, make a complaint, and dog that complaint to the District Attorney for a warrant of arrest of who’s-ever signature is on it.
I would hope that whoever else receives a bad check from the Government would do the same. Somewhere in this vast US of A, there are one or two Judges with the courage to interpret the law fairly, and hold the Government to the same standards of law that we mere citizens are held. Or, put another way, maybe there are Judges with enough ‘nads to issue opinions that no bad-check case may ever sully their courtroom again, since the law is unequally applied, it may not be applied at all.
July 21st, 2011 at 4:20 pm
Meanwhile, the Eurozone Socialist Bankers just announced that Greece is getting ANOTHER Bailout, to the tune of $155 BiLLION, some of which is coming from the IMF, which gets half their Money from the Treasury, which is Broke and in Debt. So what school of Economic Policy teaches you that one can take non-existent money from an empty safe and lend that bag of Vacuum to another Entity and claim it’s “Fiscally Responsible?”
Go ahead, pull the other one, it’s got bells on it.
July 21st, 2011 at 4:24 pm
Congress is going to fall on its sword out of guilt because it screwed up and overspent? They’re professional overspenders, incredibly arrogant, and perfectly capable of taking care of themselves at your expense. None of them are going to run for re-election after putting the country into default, and they are going to run for re-election.
They might go down to the wire, drama queens and con artists that they are, and then pat themselves on the back for what great heroes they were for saving the country from default.
They are the scum that got us into this mess to begin with. Remember that on re-election day.
July 21st, 2011 at 4:37 pm
Won’t happen. The stupid party will fold. So says the Speaker of the House.
Not that anyone who has been paying attention is even a little surprised by this.