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Member since: Fri Sep 17, 2004, 03:59 PM
Number of posts: 46,688

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Banks Stuff ATMs With Extra Cash In Fear Of Debt Ceiling Breach

Source: Think Progress

Banks Stuff ATMs With Extra Cash In Fear Of Debt Ceiling Breach

With just 10 days left to raise the debt ceiling and congressional Republicans threatening to force the government to default on its obligations, banks are taking some dramatic steps to prepare for the economic chaos that would result should the brinkmanship continue.

The Financial Times reports that one major U.S. bank has started stuffing its automatic teller machines with extra cash in preparation for a possible bank run from panicked depositors. The New York Times reports that another bank is weighing a plan to advance funds to customers who rely on Social Security and other government payments that could stop in the event of a default.

The FT said the moves are part of “a ‘playbook’ used in August 2011 when the government last came close to breaching the debt ceiling.” The 2011 debt ceiling episode produced serious economic harm, costing the country a million jobs and a knock on its credit rating. Despite the GOP’s stated goal of reducing spending and protecting taxpayer money, their 2011 debt ceiling hostage-taking added $19 billion in borrowing costs.

As banks dusted off their 2011 debt ceiling playbooks last week, the list of major economists sounding loud alarms about the consequences of a default was growing longer. Christine Lagarde, who heads the International Monetary Fund, said last week that failing to raise the debt ceiling “could very seriously damage not only the U.S. economy but the entire global economy,” and called a hike to the nation’s credit limit “mission-critical.” Mark Zandi, chief economist for Moody’s and a former adviser to Sen. John McCain’s (R-AZ) presidential campaign, warned that failing to raise the debt limit would bring a “very, very severe recession with no obvious way out.” The Treasury Department said the recession wrought by a default would be at least as bad as the 2008 crisis and possibly worse.

Read more: http://thinkprogress.org/economy/2013/10/07/2740301/banks-stuff-atms-debt-ceiling/

The Tea Party Plantation

if you're part of the 1%, life has never been better

if you're not part of the 1%, you're a jealous whining taker

REMINDER: If you need to be negotiated out of destroying the economy, you want to destroy the economy.

Follow the $$$:
The billionaires -- the Koch brothers and Rupert Murdoch -- want no taxes and no regulations. They're financing this hayride, and they're doing a good deal of the planning. Brother Cruz just hopped onboard because it allows him unlimited self-aggrandizement and lots and lots of time on-camera.


tidbits i found, here and there...
peace, kp

CBS Host To GOP: You Can't Shut Down The Gov't Every Time You Don't Get Your Way

MON OCT 07, 2013 AT 09:23 AM PDT
CBS Host To GOP: You Can't Shut Down The Gov't Every Time You Don't Get Your Way
by Heavy Mettle

In a measure of just how far beyond the pale the GOP has gotten themselves into with the government shutdown fiasco (not the least of the results being dissension among their ranks and indecision about what they're now fighting for, as well as desperately looking for a face-saving way out), the host of CBS's Sunday talk show, Face the Nation has demolished Sen. John Cornyn's 'argument' for the shutdown.

Cornyn's contention is the notion as he puts it, that 'there should be a negotiation', however host Bob Schieffer dismantled that line of reasoning, by asking why not use normal legislative procedures, such as, you know, passing some laws.

You can't do that, you can't say I won't fund the government unless I get the one thing that I want"

Isn't there something wrong with saying 'I won't fund the government unless I get my personal wish list?

Nope. Not if you're today's GOP.


“shitting on Obama’s carpet and calling him a poor housekeeper.”

Intelligence and rational decisions are a threat to the country's continued moranic behavior. Got it?

I once watched a reality show on the BBC (on vacation) where they took a single street in the suburbs of London and cut off ALL government services, and returned the tax money in exchange. In about 2 weeks these people were FREAKING OUT about how to get rid of garbage, clean up graffiti, pay for an elderly man’s nurse care, help poor neighbor’s with their rent, light the streets at night, etc. I would like to repeat that exercise with most of the red states. Or at least send everyone a “bill” showing what they get for their taxes.


Homer: You know, Mr. Burns, you're the richest guy I know. Way richer than Lenny.

Mr. Burns: Oh, yes. But I'd trade it all for a little more.

A political crisis - by Tom Tomorrow - "Obama Made Us Do It"

Three buttons, one image, same GOP lie on healthcare throughout the century!

David M. Perry @Lollardfish

Three buttons, one image, same GOP lie on healthcare throughout the century! By John Sherrfius.

4:38 AM - 7 Oct 2013


9-year old boy sneaks onto plane, flies to Las Vegas

- 9 year old is smarter than airport security, gets on plane to Las Vegas. In this case, what happens in Vegas, definitely doesn’t stay there.

FULL REPORT: 9-year-old sneaks onto plane at Minneapolis-St, Paul airport (KARE 11)

Pat Hogan, spokesperson for the Minneapolis-St. Paul International Airport (MSP), confirmed the incident to KARE, but says it wasn't the result of an airport shortcoming.

"At this point, this is a Delta and TSA issue," Hogan tells KARE. "This is a rare incident."

MSP officials say they've reviewed security footage and at this point do not believe he was carrying a boarding pass.


Tell me again how "religion is a good thing in society."

4 Saudi men accused of dancing naked sentenced to prison, lashes
By Mohammed Tawfeeq, CNN
updated 11:10 AM EDT, Sun October 6, 2013

Three men sentenced to between 3-7 years and 500 to 1,200 lashes

One man received the harshest sentence -- 2,000 lashes and 10 years

A video of the men dancing was posted to social media, but has been removed

(CNN) -- Four Saudi men accused of dancing naked on the roof of a car and posting a video of the incident online have been sentenced to as many as 2,000 lashes and up to 10 years in prison, and fined thousands of dollars, a newspaper reported this week.

A criminal court in Buraidah, Saudi Arabia, handed down the verdict on Wednesday, according to the newspaper al-Sharq.
Three of the men were sentenced to three to seven years in prison and 500 to 1,200 lashes, and one man received the harshest sentence -- 10 years and 2,000 lashes.

The fines came to 50,000 Saudi riyals ($13,000), the newspaper reported.


Wingnut Corn

Wingnut Corn

by digby

And to think, all he had to do to keep it open would have been to allow 20 million people to continue to go without health insurance:

But wait. There's a mistake there. John Aravosis helpfully fixed it for them:


Pride? GOP Rep: 'Pride' Is Why Republicans Won't Budge On Government Shutdown

“Republicans have to realize how many significant gains we’ve made over the last three years, and we have, not only in cutting spending but in really turning the tide on other things," Ross told The New York Times. "We can’t lose all that when there’s no connection now between the shutdown and the funding of Obamacare."

"I think now it’s a lot about pride," he added.

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