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Debt Ceiling Brinkmanship

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September 30th, 2021 at 1:50:22 PM permalink
OnceDear
Member since: Nov 21, 2017
Threads: 11
Posts: 1509
Quote: rxwine


LOL.
I'm using this to encourage me to educate myself in US affairs.
September 30th, 2021 at 1:58:45 PM permalink
OnceDear
Member since: Nov 21, 2017
Threads: 11
Posts: 1509
Quote: OnceDear
Mike, and Mission......
Would you guys each care to take a $10 even money wager* that an assortment of Mainstream media don't call it with a headline.
For Clarity, I'm wagering that they will
September 30th, 2021 at 2:08:48 PM permalink
Mission146
Administrator
Member since: Oct 24, 2012
Threads: 23
Posts: 4147
Quote: Evenbob
Dollar Tree announced yesterday that by the end of the year
they're raising the price in all their stores to $1.25. Experts
are saying this is a huge deal because it will cause retailers
everywhere to raise their prices and really kick inflation into
high gear.


That's been in the works for awhile. You can only make the quantities so small and it really doesn't save that much on packaging, especially when you have to recalibrate all the machines to handle the smaller quantities.
"War is the remedy that our enemies have chosen..let us give them all they want." William T. Sherman
September 30th, 2021 at 2:11:13 PM permalink
Mission146
Administrator
Member since: Oct 24, 2012
Threads: 23
Posts: 4147
Quote: OnceDear
For Clarity, I'm wagering that they will


I'm going to pass on betting anything to do with media sensationalism and overhype. I am willing to bet $10 that Social Security payments will not be interrupted, if you want to narrow it down to something specific.
"War is the remedy that our enemies have chosen..let us give them all they want." William T. Sherman
September 30th, 2021 at 2:43:44 PM permalink
OnceDear
Member since: Nov 21, 2017
Threads: 11
Posts: 1509
Quote: Mission146
That's been in the works for awhile. You can only make the quantities so small and it really doesn't save that much on packaging, especially when you have to recalibrate all the machines to handle the smaller quantities.
Our UK equivalent 'PoundLand' first introduced £2 and £5 specials, which are now half the store. We had an equal size chain of 99p stores. They just went bust.
September 30th, 2021 at 2:46:07 PM permalink
OnceDear
Member since: Nov 21, 2017
Threads: 11
Posts: 1509
Quote: Mission146
I'm going to pass on betting anything to do with media sensationalism and overhype. I am willing to bet $10 that Social Security payments will not be interrupted, if you want to narrow it down to something specific.
Well, if you can designate one authoratitive arbiter, we might still be on. What about a speech by Biden or Schumer lamenting the default? Or Moodys doing a downgrade because they count it as default?
September 30th, 2021 at 3:06:45 PM permalink
AZDuffman
Member since: Oct 24, 2012
Threads: 135
Posts: 18204
Quote: OnceDear
Mike, and Mission......
I understand that there is a distinction between a government shutdown where federal salaries get deferred and federal entities shut their doors and a full fledged Debt Default. I also understand that shutdowns happen all the time, but that the US defaulting on its debts has never happened (Came close in 2008).

It seems that the ceiling is a bit elastic and that the admin/treasury might attempt to postpone some payments 'to itself' for a while. If there's a 'never before' event there, that would strike me as Default for the first time ever. It might be failure to pay interest on bonds that are actually held by the treasury itself, giving preference to bonds held by other nations or entities. Further, I expect that the administration might execute extraordinary measures to kick either can down the road. Do I understand more or less correctly?


Not to be "that guy" but there is also the point that a missed payment might not technically be a "default." Corporate bond payments are paid late from time to time, but are not in "default" for some time. If they miss a payment by days there will be all kinds of word games.
The President is a fink.
September 30th, 2021 at 3:19:43 PM permalink
Mission146
Administrator
Member since: Oct 24, 2012
Threads: 23
Posts: 4147
Quote: OnceDear
Well, if you can designate one authoratitive arbiter, we might still be on. What about a speech by Biden or Schumer lamenting the default? Or Moodys doing a downgrade because they count it as default?


I consider all of those things somewhat likely due to sensationalism. We'll have something to bet upon another time!
"War is the remedy that our enemies have chosen..let us give them all they want." William T. Sherman
October 1st, 2021 at 1:11:56 AM permalink
Evenbob
Member since: Oct 24, 2012
Threads: 146
Posts: 25011
Oops! Policy called off all voting on Thursday night because she would have lost. What a shame. The American people realize the Beijing Joe crime family Administration is a total sham and embarrassment.
If you take a risk, you may lose. If you never take a risk, you will always lose.
October 1st, 2021 at 1:52:55 PM permalink
OnceDear
Member since: Nov 21, 2017
Threads: 11
Posts: 1509
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