• BullionStar
    05/30/2016 - 21:24
    The US Gold Market is best known as the home of gold futures trading on the COMEX in New York. The COMEX has a literal monopoly on gold futures trading volumes worldwide, but very little physical...

Guest Post: Fuck The Deficit (Or Will The Deficit End Up Fucking Us?)

Tyler Durden's picture




 
0
Your rating: None
 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 08/05/2010 - 19:09 | 505926 Monkey Craig
Monkey Craig's picture

people will wake up about the deficit when 60% of their paycheck goes to taxes, interest rates are double digits, or the paycheck won't even buy a lunch or pack of cigarettes

Thu, 08/05/2010 - 19:37 | 505970 Boilermaker
Boilermaker's picture

You just described Europe.

Thu, 08/05/2010 - 22:07 | 506252 Guillermo
Guillermo's picture

Europeans get health care, good schools, good vacations and state support for their taxes. We get bombs with which to kill muslims for Israel.

 

 

Thu, 08/05/2010 - 23:03 | 506389 TBT or not TBT
TBT or not TBT's picture

Europeons get to wait in lines, get their kids programmed in state schools, get forced to have a lot of free time and "vacation"...time essentially..in exchange for the very little income available after a million taxes on everything they do and want.   They're so depressed and repressed that they're not even having kids, which is causing the gigantic welfare states over there to collapse in slow motion.  The motion will speed up quickly, as it has repeatedly in European history.

Thu, 08/05/2010 - 23:04 | 506391 TBT or not TBT
TBT or not TBT's picture

EUO bitchez!      (and not TBT just yet)

Fri, 08/06/2010 - 08:35 | 506772 Zina
Zina's picture

Europeans are much happier with life than Americans.

Wanna proof?

We don't see crazy europeans shooting room-mates and co-workers every month, as we see in the US...

And we don't see crowds of europeans trying to emigrate to the US.

Life in Europe is much better than in the US. If I had to leave Brasil and choose to live in the US or in Europe, I obviously would go to Europe.

Fri, 08/06/2010 - 10:17 | 507102 cmalbatros
cmalbatros's picture

+1 , europeans live longer than Americans - for now - less stress due to "Free" medical & Higher education & a much better Social safety net.

Fri, 08/06/2010 - 18:31 | 508218 Quantum Nucleonics
Quantum Nucleonics's picture

Longer lifespans in Europe have less to do with socialized health care (survival rates for cancer in Europe are signficantly lower than in the US, for example) and far more to do with demographics and diet.

Fri, 08/06/2010 - 11:26 | 507343 Edmon Plume
Edmon Plume's picture

That's proof?  You should be unhappy for the sole reason that you aren't even coherent.

You can keep your fat dumb and happy lives.  I'll cling bitterly to my guns.  Betcha the Greeks are starting to rethink this whole happiness thing.  In time, you will too.

Yes, please stay out of the USA.  We don't need any more teat sucking entitlement victims.

Fri, 08/06/2010 - 20:59 | 508381 SWRichmond
SWRichmond's picture

I'll cling bitterly to my guns.  Betcha the Greeks are starting to rethink this whole happiness thing.  In time, you will too.

I share this idea.  Welfarism doesn't work; eventually, everyone figures out that hard work is for suckers, and no one works anymore. 

Sat, 08/07/2010 - 01:46 | 508641 Guillermo
Guillermo's picture

It's an either/or. Either we pay taxes for bombs OR we pay taxes for benefits. I would rather my taxes benefit me and the city/state/country I live in than the cash be used for a fucking horrid degenerate empire.

Sat, 08/07/2010 - 06:50 | 508720 SWRichmond
SWRichmond's picture

False choice.  I don't want to do either.

Sun, 08/08/2010 - 00:50 | 509338 Guillermo
Guillermo's picture

What you want doesn't matter.

Fri, 08/06/2010 - 00:09 | 506477 Arkadaba
Arkadaba's picture

Give me a break. U.S. education is a joke. I'll never forget meeting one person who had a Master's in the same field as I did- and I wasn't sure how she got out of high school let alone got a Masters.  Yeah she was Catholic so I'm sure she will reproduce. 

Fri, 08/06/2010 - 08:24 | 506765 -Michelle-
-Michelle-'s picture

Did you also obtain your degree from the US educational system?

Fri, 08/06/2010 - 11:52 | 507416 Edmon Plume
Edmon Plume's picture

True, a degree is no longer proof of mastery of any subject, except for perhaps math or engineering.  I'm seeing some trending toward skills-based employment, rather than degreed employment.  Employers are weary of not being able to trust the broken education system, and are responding in kind.  There are still a great many holdouts to the old "bachelor's degree required" theme.

Europe is losing the demographics war, and the US isn't far behind.  I wouldn't sneer at reproduction - it is a country's saving.  Unless you think that a citizenry doesn't need citizens.  The Catholics and Protestants were right about the carnage wrought by the birth control/sexual freedom/abortion/no-fault-divorce movements in the 1960s and beyond.

Fri, 08/06/2010 - 00:51 | 506518 BobWatNorCal
BobWatNorCal's picture

Even Euros in the US don't have kids. It's kind of creepy.

Fri, 08/06/2010 - 01:00 | 506529 Guillermo
Guillermo's picture

Who can afford them? Between taxes and inflation a family with more than one kid requires an income that very few people have. It is only going to get worse.

Thu, 08/05/2010 - 23:57 | 506461 lolmaster
lolmaster's picture

You're welcome to move to Cuba or Saudi Arabia

Fri, 08/06/2010 - 01:12 | 506538 Fred C Dobbs
Fred C Dobbs's picture

No you're not.  One cannot immigrate to just any country.  

Fri, 08/06/2010 - 05:59 | 506646 breezer1
breezer1's picture

i emailed the cuban consulate once asking about immigration and business regs and recieved no response after several times.

Fri, 08/06/2010 - 08:05 | 506734 israhole
israhole's picture

How true, we get more wars for Israel, and all the enemies that come with it.  

Fri, 08/06/2010 - 08:53 | 506823 Max Hunter
Max Hunter's picture

Come on now.. You can't tell me you don't get that deep down clean feeling for hating Muslims and brown people like we are conditioned to..

Besides, Israel is our best friend. They would do anything for us..  They are a beacon of democracy.. It's all good.. Go back to sleep..

Thu, 08/05/2010 - 22:03 | 506270 B9K9
B9K9's picture

Overall, a nice analysis. Nothing new to any regular ZH readers, but it still conveniently summarizes all the key points.

The only thing I would quibble over is that there should at least be a nod to the notion that our current policy initiatives were never implemented (nor are being maintained & potentially ramped up) with any sincere intent.

Ultimately, regardless of the current crisis, there are a number of large-scale domestic macro trends that really would have confounded any established status quo. Among these are ongoing demographic changes, resource depletion, de-industrialization & debt accumulation.

So faced with these underlying facts, would someone with both awareness & power set up a purposeful fail, or would they merely humor & go along with academics who proposed these farcical policies in order to loot & strip any last remaining asset values?

(I guess a potential third option is that certain members of the power-elite might actually hope & believe - guffaw - that any of these actions might actually succeed.)

I guess that's up to the historians to argue over. For those of us living in the here & now, about the only thing one can count on is this mofo is not gonna last very much longer. Benny, Bammy, Timmy & the cabal of hench people are shit out of time.

If extensive Congressional hearings don't bring Barry down after Nov, team Petraeus might take matters into their own hands. Either way, as many others have noted, the USA we grew up with & have always known, as if it was some kind of natural absolute like the sun rising each day, is done, over, kaput, all pau.

Fri, 08/06/2010 - 01:00 | 506531 DoChenRollingBearing
DoChenRollingBearing's picture

+ $1.4 trillion to the author and to you B9K9.

There appears to be no way out of the box.  It is either hyperinflate or default.  Hyperinflation seems to be the solution most go for.

Congressional hearings to bring Barry down.  Only if the 'R's win big.  Even so, I doubt there is the will among almost any politician to resolve all of this.

Woe will be upon us.  Prepare...

Fri, 08/06/2010 - 08:22 | 506762 MeTarzanUjane
MeTarzanUjane's picture

Maybe, but Tyler does not need to resort to such vulgarity to drive home the facts. Catchy titles are a ZH staple and normally set the tone. I hope they institute a policy regarding such or soon each title will be descriptive of all things excretionatory.

Fri, 08/06/2010 - 11:33 | 507356 defender
defender's picture

And I thought that I was conservative.  If you look at the top of the page you will notice that it says "guest post".  That means that the title and body are both from another author.  But outside of that, if you think that these phrases aren't common language, you must not watch any TV, or go to any grocery stores.  I think you need to get out more.

Fri, 08/06/2010 - 13:54 | 507702 MeTarzanUjane
MeTarzanUjane's picture

TRUST me Defender, Tyler & Co have the final right of refusal and can therefore edit and or influence editors.

Meaning; ZH blesses every article posted.

I rest my case.

(Your sphere of influence is TV and the grocery store? You may want to look in the mirror, council.)

Sat, 08/07/2010 - 08:53 | 508758 MaximumPig
MaximumPig's picture

Bring Barry down and replace him with what?  A military receivership run by Petraeus?  Is he a follower of Austrian school?  Otherwise, if it's just another Republicrat, we'll be having more of the same.  Sure, you could point to a couple of Republicans here and there who follow Austrian school thinking, but what chance do you think someone like that has in the mainstream Republican party?  Paging Ron Paul . . .

Thu, 08/05/2010 - 21:28 | 506218 Hedge Jobs
Hedge Jobs's picture

all this useless bitching and moaning, has any noticed the H&S reversal pattern that has formed in the DOW over the last 6 months?

shorters have all capitulated (we dont have any more down days they all say!the market only ever goes up! boo hoo!)as they got carted out thanks to the FED. Well if this isnt a right shoulder at 10700 i dont know what is. Even the most basic algo would be able to recognise this, and so would humans if they stopped complaining and actually started paying attention.

likes like a pretty good set up to go short now on technicals, sentiment and definatelty fundamentals although i realise these dont matter much anymore.

time to put the shorts back on bitchez!

 

 

 

 

Thu, 08/05/2010 - 21:33 | 506227 goldfish1
goldfish1's picture

yeah yea, technicals schmechnicals...it's the guy(s) behind the curtains running the numbers so don't get overly confident or bet against the house.  

Thu, 08/05/2010 - 21:53 | 506263 Hedge Jobs
Hedge Jobs's picture

Thanks for tip GF1, But i closed out my shorts and went long at the start of July (check post history if you dont beleive me) and this looks like a very low risk time to go short again. You certainly wouldn't be going long here.

So how do make money for yourself and clients in this market then? Or are you just another one of the many armchair spectators who likes to pass comment but has no skin in the game?

Thu, 08/05/2010 - 23:17 | 506411 Panafrican Funk...
Panafrican Funktron Robot's picture

Yeah I'm looking at late August through early October as being the period when the shorts accelerate.  Now's the time to get in while it's still relatively cheap.  700's might actually turn out to be right on lol.

Thu, 08/05/2010 - 23:23 | 506418 dark pools of soros
dark pools of soros's picture

make money for your clients???  you surely aren't doing god's work

Fri, 08/06/2010 - 01:02 | 506534 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1   !!!

Thu, 08/05/2010 - 22:29 | 506335 Blano
Blano's picture

The DOW had one of these last summer too, and it failed miserably.

Right or wrong, I believe this one will fail too.

Failed patterns is the name of the game these days.

Thu, 08/05/2010 - 22:42 | 506358 Hedge Jobs
Hedge Jobs's picture

Blano / GF1 you are exactly the sort of sentiment indicators i am looking for and are typical of beaten up bearish investors everywhere.

There is no H&S last summer except in your imagination. They form over months not weeks. Please dont tell me you went short the market last summer at 8000 points? you did didnt you! GF1 was probably right there with you.

Fri, 08/06/2010 - 08:22 | 506763 Shocker
Shocker's picture

We are going to pay dearly for all this reckless spending.

Thu, 08/05/2010 - 23:05 | 506395 Jasper M
Jasper M's picture

Dear boy, some of us with long time horizons, never took them off.

Fri, 08/06/2010 - 00:13 | 506480 Hedge Jobs
Hedge Jobs's picture

good move JM!

The FED has done its job wiping out all the nasty shorters and ramping the market enough to get them through the bad GDP number last week and the bad NFP number tonight.If they keep ramping the market they are going to make it too obvious and the game will be up. people are already starting to ask questions.

They wont care if the market drops back to 10,000. they will probably be the ones that sell it down there,close out their longs and replenish cash so they can add support lowed down becuase they know they will need to.

either play the game or sit on the sidelines Bitchez! Im going short.

Fri, 08/06/2010 - 01:21 | 506544 whatsinaname
whatsinaname's picture

gave up trying.

 

Fri, 08/06/2010 - 07:54 | 506718 realtick
realtick's picture

I disagree - look at this

http://i35.tinypic.com/ztjgnt.jpg

You're all mixed up like pasta primavera
Why'd you throw that chair at Geraldo Rivera
Cause one man's ceiling is another man's floor

 

Fri, 08/06/2010 - 08:30 | 506767 MeTarzanUjane
MeTarzanUjane's picture

QE2 will be the juice to send this thing into overdrive. The shorts will get creamed again. Cream corn for errbody.

Thu, 08/05/2010 - 19:13 | 505936 DosZap
DosZap's picture

Obama planning on a 800 Billion dollar bailout without Congressional Approval?.

Go here................if you haven't already.

http://jsmineset.com/category/jimsmailbox/

Thu, 08/05/2010 - 20:52 | 506148 Mr Lennon Hendrix
Mr Lennon Hendrix's picture
Forget Instarefi: Here Comes Instaloanforgiveness:

http://www.zerohedge.com/article/forget-instarefi-here-comes-instaloanfo...

Thu, 08/05/2010 - 22:30 | 506341 Blano
Blano's picture

ZH's cohorts at Calculated Risk are debunking this story.

Fri, 08/06/2010 - 08:37 | 506773 MeTarzanUjane
MeTarzanUjane's picture

My money is on the zero's. Free haircuts sponsored by The Demon Barber of Liberty Street.

Fri, 08/06/2010 - 00:15 | 506485 Moneygrove
Moneygrove's picture

End bush tax cuts now !!!!!!!!!!! why do we need more jobs ?? didn`t bush tax cuts make all the jobs we need ? lol !!!!!!

Thu, 08/05/2010 - 19:16 | 505938 walküre
walküre's picture

The author's name is Gonzola "Lira"

A great name when you want to debate the coming hyper inflation.

Lira was Italy's infamous chewing gum of a currency.

When I spent time in Italy during their currency crisis, it was always an exciting visit at the markets. One day I paid 1000 Lira for the water melon, next day it was 2000 and after that it went up to 3000. I never held any Liras overnight. Just had my hard Deutsch Mark and exchanged one day at a time. One day my 100 Deutsche Mark gave me 100,000 Lira, next day I got 200,000 and so on ... It was fun!

Thu, 08/05/2010 - 20:07 | 506049 Oracle of Kypseli
Oracle of Kypseli's picture

Same thing happened with the Israeli Lira in the 70's (before switching to the Shekel). Supermarkets had 4 people repricing everything every night. Israelis will buy gold chains food and other assets that retained value as soon as they got paid. They were even buying hard liquor. All the paycheck was spent that day.

Do NOT follow this link or you will be banned from the site!