Charting The Treasury's Delusions: Tim Geithner's Latest Projections For US Public Debt

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Wed, 06/09/2010 - 13:19 | 403599 carbonmutant
carbonmutant's picture

"Hey, Work with me on this..." -TG

Wed, 06/09/2010 - 13:41 | 403689 BlackBeard
BlackBeard's picture

Yeah... sure...whatever the fuck Timmy.

Wed, 06/09/2010 - 13:45 | 403704 Assetman
Assetman's picture

Well, at least Timmy is consistent.


But consistent.

Wed, 06/09/2010 - 14:06 | 403781 Cognitive Dissonance
Cognitive Dissonance's picture

That is until the maniac(s) explode and we're all showered with a mix of human brains and fiat currency.

I just can't get over the idea that some of these people actually believe what they're saying. The beauty of insanity is that it's perfect in form and function. It's self sustaining and ignores all contrary evidence to it's continued existence.

Wed, 06/09/2010 - 23:24 | 405187 carbonmutant
carbonmutant's picture

Damn, that sounds like religion...

Wed, 06/09/2010 - 13:16 | 403606 Cognitive Dissonance
Cognitive Dissonance's picture

All I see are Olympic ski jumps as far as the eye can see.

This won't end well, but it most definitely will end somewhere somehow.

BTW I end my day with 30 minutes of fiction reading before turning out the light. Looks like I have a few weeks worth here.

Wed, 06/09/2010 - 13:18 | 403617 CoopDeluxe
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I believe this could be classified under sci-fi too under the Dewey decimal system.

Wed, 06/09/2010 - 13:26 | 403642 Howard_Beale
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Unfortunately, it's the Special Olympic ski jump for quadriplegics. Right there with the blind hurdle racers. Yeah, I know, I'm deranged. 

Wed, 06/09/2010 - 13:30 | 403656 Cognitive Dissonance
Cognitive Dissonance's picture

I simply MUST remember not to be eating or drinking anything when I read your posts. You're dangerous to my health. :>)

Wed, 06/09/2010 - 14:22 | 403836 LeBalance
LeBalance's picture

Heimlich Defib!

Wed, 06/09/2010 - 14:58 | 403970 Double down
Double down's picture

Wholeheartedly agree.  That is what avatars are for.

Wed, 06/09/2010 - 13:40 | 403684 knukles
knukles's picture

Mayhaps a revised job description for Sec Treas.  Qualifications Must Include Competency.

Wed, 06/09/2010 - 14:28 | 403859 LeBalance
LeBalance's picture

"What we have here is a failure to communicate, some men you just can't reach.  So you get what we have here today.  Now I don't like this anymore than you men."

What we have here is an N-dimensional Event Horizon.  All dimensions are being carefully orchestrated for maximum Wile E. Coyote effect.

Remember how in some Coyote events, he would hit the ground and that would be the end of the segment, but in others there would be a see saw, a rolling rock, a swinging log, a truck from a painted tunnel?  N-dimensional.  It's a party!

Wed, 06/09/2010 - 13:15 | 403607 The Rogue Trader
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Thank you...awesome and sobbering

Wed, 06/09/2010 - 13:19 | 403608 DosZap
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Tyler, here are some more FUN FACTS from Casey.

Scroll down...............This where we're AT, and where we have been......

Wed, 06/09/2010 - 13:16 | 403609 RobotTrader
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As if all that debt really matters?

10-yrs. just went flying off the shelves, 300% oversubscribed, at 40-year low rates.

I'm sure Bernanke is not the least bit worried.

As we lurch from crisis to crisis, the bid for Treasuries will be permanently sustained.

Just more "Wash, Rinse, Repeat"....


Wed, 06/09/2010 - 13:22 | 403634 Sudden Debt
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Do what every American does. Stop paying the bills and go on a Ipad buying spree with the available cash!


Wed, 06/09/2010 - 14:30 | 403867 LeBalance
LeBalance's picture

max kewl

Wed, 06/09/2010 - 14:31 | 403869 trav7777
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The State and FBI are contemplating the best way to "approach" Wikileaks to prevent disclosure??!!?!

WTF...they really don't know, do they?

They'll have to approach with lead at high speed or threaten to kill his family.

Wed, 06/09/2010 - 14:43 | 403904 Rusty Shorts
Rusty Shorts's picture

HAAAAHAHAHAAAAAA, this is just too good.


“If he really had access to these cables, we've got a terrible situation on our hands," said an American diplomat. "We're still trying to figure out what he had access to. A lot of my colleagues overseas are sweating this out, given what those cables may contain.”


- I can see them now, sitting around in a think tank, wringing their do we do now, shut down the internets??

Wed, 06/09/2010 - 15:13 | 404026 seventree
seventree's picture

From the New Yorker:

No Secrets: Julian Assange’s mission for total transparency.

The most mutually hostile governments in the world agree on the sanctity of state secrets. I wonder how long this can go on.

Wed, 06/09/2010 - 16:27 | 404305 Rick64
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All staff who deal with sources are accredited journalists. All submissions establish a journalist-source relationship. Online submissions are routed via Sweden and Belgium which have first rate journalist-source shield laws. In Sweden, not only does the law provide protection against any official inquiry into journalists’ sources, but it allows a source whose identity has been revealed without permission to initiate criminal prosecutions against an unfaithful journalist who has breached his or her promise of confidentiality.


Wed, 06/09/2010 - 13:17 | 403614 Rick64
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Geithner can't even do his own taxes right and he is doing projections on the U.S. budget?

Wed, 06/09/2010 - 13:19 | 403622 carbonmutant
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Wed, 06/09/2010 - 13:20 | 403627 Sudden Debt
Sudden Debt's picture

+1000 :)

Wed, 06/09/2010 - 13:22 | 403632 cowdiddly
cowdiddly's picture

+1000 He lied on that to.

Wed, 06/09/2010 - 13:29 | 403653 Anonymouse
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It's ok.  He used Turbo Tax to model the revenues in this report

Wed, 06/09/2010 - 14:33 | 403874 TheGoodDoctor
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+34,000! Isn't that what he owed? I can't believe they believe this shit themselves.

Wed, 06/09/2010 - 13:19 | 403621 jkruffin
jkruffin's picture

It's doable, if they crash the DOW to 1000 and pile everyone into treasuries for 5 yrs while the market goes nowhere the whole time.  But Benny Boy keeps pumping stocks, so something has to give.

Wed, 06/09/2010 - 13:26 | 403643 centerline
centerline's picture

Bread and circuses. Perhaps the stock market is just a circus. Dumb money and 'puters doing a big BB circle jerk around the toilet drain. Dead cat bounce. .... just thinking. sort of. maybe.

Wed, 06/09/2010 - 13:31 | 403660 Howard_Beale
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Let's see...(rounded) Dow 12,200 to 9750. S&P 1220 to 1040. Yeah, he's pumping away.

When you all get over your whiplash from the March 09 to April 2010 BMR, you will once again realize that market forces are bigger than the Fed, or any central bank.

Wed, 06/09/2010 - 16:12 | 404253 Ragnar D
Ragnar D's picture

Well hey, you can't blame them for racing as fast as they can to get government larger than the market.

They did it in Chicago (Detroit, Newark, Baltimore, Philly, New Orleans), so now they're taking that model nationwide.


Once Fedzilla payrolls exceed those of private industry (or S&P capitalization is lower than government's budget, whichever), they'll finally have that sweet sweet Control over everything.

Wed, 06/09/2010 - 13:19 | 403623 homersimpson
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Timmy before he wrote up the report:

Wed, 06/09/2010 - 13:27 | 403647 Cognitive Dissonance
Cognitive Dissonance's picture

"Your f**king up the rotation. Puff puff, give. Puff puff give."

Wed, 06/09/2010 - 15:01 | 403984 Winston Smith 2009
Winston Smith 2009's picture

No, he watched this and incorrectly thought the answer was "no":

Wed, 06/09/2010 - 13:19 | 403624 Sudden Debt
Sudden Debt's picture

In my country Belgium they wonder why to do a austerity programm and not just spend more because they also think that in 2015 all will be well.

2015 seems to be the magic year :)

Wed, 06/09/2010 - 13:28 | 403649 centerline
centerline's picture

That Mayan 2012 thing is spooky though.

Wed, 06/09/2010 - 13:28 | 403651 What_Me_Worry
What_Me_Worry's picture

Yes, every country must be pointing to the US and saying "but they get to pretend!"

If America jumped off a bridge, would you do it too?  Apparently, the answer that most foreign governments/citizens would give right now would be "yes, point me to that bridge".

Wed, 06/09/2010 - 14:35 | 403879 LeBalance
LeBalance's picture

Ummmm.....Identity issue: the Owners are on one team and the peons are on the other team.  There is no EU or US, just peons and owners.  Changes how one's thoughts are framed.

Wed, 06/09/2010 - 16:16 | 404264 Ragnar D
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Hang on a second.  How can the Euro-Peons be mimicking us, if all we've been doing the past couple years is copying their stagnant model?

It's like trying to follow someone from in front of them.

Wed, 06/09/2010 - 18:08 | 404558 baserunr
baserunr's picture

Hence the term "Circle-Jerk". Or circle the jerks, or watch the circling jerks, or something like that.....

Wed, 06/09/2010 - 13:43 | 403695 knukles
knukles's picture

Early Pre-Mesastoic Calculation Technology.

God I love the Product of Syllogistic Logic Based Upon Flawed Assumptions 

Wed, 06/09/2010 - 13:21 | 403628 DosZap
DosZap's picture

And as another member posted, Bernake doesn't understand WHY the flight to Gold............

How about doing that, and changing your underwear, after this.

Wed, 06/09/2010 - 14:13 | 403808 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

In context, he doesn't understand why the price is going up WHEN HE IS SELLING SO MUCH OF IT.  "Greenie told me that all I had to do to hold the price down was to sell gold.  Shiet!"

Note to BS, when you are not actually moving the gold, and it is only a notation on a ledger, no body gives a rats ass.

Wed, 06/09/2010 - 13:23 | 403636 contrabandista13
contrabandista13's picture

the devil is always in the assumptions....

Wed, 06/09/2010 - 13:25 | 403639 MarketTruth
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Timmy used the newest version of Turbo Treasury and all the numbers worked out fine.

Wed, 06/09/2010 - 13:26 | 403640 Rick64
Rick64's picture

When have these motherfuckers ever got any of their projections right? This is a pacifier for America to suck on until they do their next projections and nobody will question them about the these projections. On and on and on.

Wed, 06/09/2010 - 13:26 | 403641 101 years and c...
101 years and counting's picture

Clearly ZH is falling into the hopium camp.  1.5% GDP growth going forward looks very rosy to me.

Wed, 06/09/2010 - 14:00 | 403693 akak
akak's picture

That was my thought exactly.

Just with the government's laughably downward manipulations of the CPI, they can arbitrarily define reported GDP upward as far as they find convenient.  REAL GDP is already negative, and has been for most of the last decade.  And that doesn't even go into the insanity of ADDING governmental spending (borrowing) into GDP, when in fact it should be subtracted!

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