wow sure is a lot more excitement about this than I expected.
Why isn't anyone commenting about how they just about bought Earl Blumenauer's vote with this silliness? Why no outrage that this worthless bill turned into a barrel of pork?
I think it's a bit premature to be excited. We're looking at a possible default of government bonds, and even currency collapse in the next two years. I think we're led by a bunch of traitors! They voted to reward the jerks who got us to this point by getting out of control with the over-the-counter derivatives markets since 1999. With only 10% of banks reporting, credit default swaps are something like $55 trillion (just under the annual GDP of the entire planet -- and only 10% volunteered this info!). The system is so intertwined with itself, according to the BIS the total derivatives notional value is > 1.2 quadrillion. Our awesome responsible government will be spending 1 trillion more than it has next year. Not even considering all the entitlements the government is on the hook for (ss and medicare), we're in increasingly bad shape. All the money they've pumped into the system will eventually be felt, and then people will be comparing it to Weimar after WWI.
Who knows if japan and china will continue to subsidize these idiots through their purchasing of bonds? I promise, they will get together with russia and S.A. and create their own gold-pegged currency basket, and then the repo-man cometh!!