Bob Theil Fails to see Crisis in Debt Ceiling Crisis

LCG apologist Bob Theil appears to have no understanding of why the debt ceiling crisis is a crisis. Obama Says He is Trying to Avert ‘Armageddon’.

Since the USA seems intent upon increasing debt (as the current ‘crisis’ has to do with RAISING the DEBT ceiling AGAIN), this will continue to insure that the USA is the most indebted nation in the history of humankind....

Right now, the USA crisis is that it wants and hopes to increase debt and borrow more from its foreign creditors, yet its leaders believe that not increasing debt will be a greater calamity.

I am amazed that he is so apathetic about this issue.

If the US gets more debt that is fine because those willing to invest in US bonds are willing to buy them, the US government meets its financial obligations, and these matters will be dealt with later in the future.

If the debt ceiling is not raised...

No. Wait. I don't even want to imagine what would happen if that occurred.

The reason why not raising the debt ceiling is a problem is that it would force the US to not pay their debts.

The entire world economy is based around the belief that you can trust the US dollar. You invest in a US bond and it will be paid back to you. You can't be too sure about any other thing you invest in, but you can trust the US bond.

If the debt ceiling is not raised then the US bond, something in which people all over the world have invested in, rich people, poor people, Americans, others, some who are reading this, all their holdings in US debt become unreliable. None of them can be sure that they will be paid back. The US Treasury will not be able to pay the necessary financial obligations of the US.

I recall hearing President Obama saying that Social Security checks will not be made, Soldiers will not be paid, if the US Treasury is unable to meet its financial obligations because Congress did not raise the debt ceiling.

And it cannot but be recalled that back in 2008 when just one major Wall Street bank went bankrupt it caused the entire world economy to freeze, have a heart attack, and brought the world economy to the precipice of another Great Depression.

Far more people are invested in US bonds than was the case with Lehman Brothers.

A lot of people fear that if the debt ceiling is not raised, thus forcing the US government to not pay their debts, we will have another Lehman moment which will freeze the entire financial world.

This is the crisis that Bob Theil pretends that this is not a real crisis. He even puts brackets around the word crisis as though it is not a real crisis. It is a real crisis.

All of that will be avoided if Congress simply raises the debt ceiling.

Somehow Bob Theil seems to think that the US government shirking its responsibilities to its debtors, and causing soldiers to not be paid, Social Security checks to not be paid, etc, and possibly creating another Lehman Brothers moment is less of a problem then for the US government to honor its obligations.

PCG, Behold The People of Free Libya

Recently, citing "a report from two French think tanks", PCG has been trying to slur the Libyan rebels as Islamic fundamentalists. The report, as presented by PCG, have even charged that Al Qaeda is the main force of the armed resistance against Gaddafi.

The al Qaeda-affiliated Libyan Islamic Fighting Group is the “main pillar of the armed insurrection,” the report says.

If you believe that please make the time to watch this video.


How can PCG tell us those vast multitudes are Al Qaeda? Or Islamic fundamentalists?

They are simply people struggling to gain basic human rights consistently denied them during the 42 year tyranny of Colonel Gaddafi.

Gaddafi has had a terrible impact upon the world. Bombing the cafe in Berlin, bombing the plane over Lockerbie, contributing to the terrible wars in Sierra Leone, Liberia and Darfur.

The sooner he goes the better.

PCG Blind to EU's Current Divisions

PCG just posted the following tweet:

Herbert Armstrong, July 22, 1984: a global financial crisis could "suddenly [trigger] European nations to UNITE as A NEW WORLD POWER"

It needs to be stated that the current financial crisis in the European Union is actually dividing the EU.

I am sure the Greeks are very angry at other nations for imposing the current austerity measures. The Germans are bitter over having to bailout Greece. Here is one example from the German newspaper Der Spiegel:

Given that Germany is shouldering risk to the tune of hundreds of billions for a life-threatening euro crisis, it may seem absurd that Berlin is perceived abroad as 'euro Nazis' rather than as a benevolent leader. ... Germany is in the impossible situation of having ponied up hundreds of billions of euros but is nevertheless being pilloried. Some Greek newspapers refer to Germans as "euro Nazis," and not as a benevolent leading power.

How is this situation supposed to unify Europeans together and become a militarily unstoppable empire?

This simple fact needs to be stated.

PCG Slur Libyan Rebels as Al Qaeda

I was just reading PCG's Week in Review. In it PCG continue their shameful denigration of the brave persons seeking change in the Arab world.

Here they accuse the Libyan rebels of being Al Quaeda.

A new report by two French think tanks indicates that the West is on the side of Islamic terrorists in the war against Muammar Qadhafi in Libya. The report concludes that jihadists have played a predominant role in the eastern Libyan rebellion, and that “true democrats” represent only a minority in the rebellion....

Here's PCG's opinion on what arming the Libyan rebels means.

The al Qaeda-affiliated Libyan Islamic Fighting Group is the “main pillar of the armed insurrection,” the report says....Trumpet editor in chief Gerald Flurry pointed out on May 5 that “NATO is considering arming the rebels. That’s practically handing Libya over to the radical Islamic camp!”

Please watch this TV report, Libya responds to Bin Laden death. It is an report in which Libyan freedom fighters speak about Osama bin Laden upon the occasion of his death. The ones in this report are unsympathetic towards him, state that he was a terrorist who murdered innocent people, destroyed public property, and had his terrorism rebound back to him. They also note that the Gaddafi dictatorship often accused suspected opponents of having links to Al Qaeda.

I cannot help but believe that the real reason PCG has taken such a negative view of the Arab Awakening is that the PCG leadership fear that their eternally abused flock might try imitating the protesters who have shaken the Arab world to its core.

As for Libya as far as I am concerned the sooner Gaddafi is overthrown the better. I hope he is removed as soon as possible.

Below is the relevant section in full. Note how shamefully there is no concern here over the literally thousands of peaceful protesters who were murdered by Gaddafi's shoot-to-kill thugs.

A new report by two French think tanks indicates that the West is on the side of Islamic terrorists in the war against Muammar Qadhafi in Libya. The report concludes that jihadists have played a predominant role in the eastern Libyan rebellion, and that “true democrats” represent only a minority in the rebellion. It also found that the justifications given for Western military intervention in Libya were largely based on media exaggerations and “outright disinformation.” The two organizations sent a six-member expert mission to Libya at the end of March to evaluate the situation and consult with representatives on both sides of the conflict. The report reveals that the Libyan National Transitional Council (NTC) is comprised of four factions: “true democrats,” which are a minority; partisans of a restoration of the monarchy that was overthrown by Qadhafi in 1969; Islamic extremists seeking the establishment of an Islamic state; and former figures in the Qadhafi regime who defected for opportunistic or other reasons. Many of the monarchists are also Islamists. The president of the NTC is a “traditionalist” who is “supported by the Islamists,” according to the authors of the report. The al Qaeda-affiliated Libyan Islamic Fighting Group is the “main pillar of the armed insurrection,” the report says. “Thus the military coalition under NATO leadership is supporting a rebellion that includes Islamic terrorists,” the authors write. “No one can deny that the Libyan rebels who are today supported by Washington were only yesterday jihadists killing American GIs in Iraq.” Trumpet editor in chief Gerald Flurry pointed out on May 5 that “NATO is considering arming the rebels. That’s practically handing Libya over to the radical Islamic camp!” It appears the current military campaign in Libya may well facilitate that country falling to Islamists and into the Iranian orbit—an outcome prophesied by the Prophet Daniel.