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North American Energy Partners Inc. Message Board

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  • mjff mjff Jul 19, 2011 12:26 PM Flag

    The Dollar

    I for one want to get the pain over with. Rip the bandaid off already. I refuse to invest in anything right now because it is obvious that what is going on is unsustainable and will implode eventually. You want to know why employment is not improving? Because the guys like me see it coming and we aren't going to hire or invest in business expansion until the storm passes. Delaying the storm is not helping anybody but the geezers who will die and succeed in skipping out on their portion of the tab in the meantime. In the end it will just be that much worse for the rest of us.

    Raising the debt ceiling = kicking the can down the road. Eventually we will reach the point where nobody will lend to us either, and that point may be a lot sooner than anybody thinks, especially if the ratings agencies start downgrading US sovereign debt. I have no reason to think they won't when the plan that gets passed by Congress to raise the debt ceiling includes inadequate backend loaded cuts as it almost certainly will. I'm going to laugh when bond yields soar and the government can't even pay the interest on the debt, and the media is running around wondering why it happened when Congress raised the debt ceiling to avoid exactly that. We live in a country populated by way too many idiots.

 
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