Obama Speaks On Debt... Again

Tyler Durden's picture

It must be one of those days when America needs some more scaremongering. Sure enough...

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GetZeeGold's picture


It's all talk comrades.

When do I get to use the jet?

 Grow your own peas Karl.....these are mine.


nope-1004's picture

Change we'll all bereave in.

White House press conference only occur for:

1)  Invasion of another country.

2)  Need more debt to pay debt.

Gotta love those nice government men, looking out for our best interests.


Ethics Gradient's picture

All nice government men around the world seem to be wearing a constant visage of fear at the moment.

duffelpud's picture

Great interviews with such thoughtful, intuitive individuals.

hedgeless_horseman's picture


"All the people that were here first really ended up at the end 'cause they couldn't run fast enough."

TV parsing algos push NKE down $0.78 on the news.

Mactheknife's picture

This man doesn't want to be the leader of the free world who inspires individuals to go out and do great things.  He wants to be and is the leader of a gang who wants to control every aspect of American life and the American economy just like any good street gang. He does this under the guise that "we are the government and we are here to help". The other party or "gang" is willing to give every job in this country away and give everything else to the military industrial complex in order to obtain funding to get re-elected. Both "gangs" bow to the will of the banks who own the Federal Reserve.

" The government that is big enough to give you everything you want is strong enough to take everything you have." 

TaxSlave's picture

Translation of Obamaspeak:

"We own you.  We own everything you earn.  We own your employer.  We own the world.  We are done incurring debt on your ass because we own your offspring for at least the next seven generations to pay it off.  At this point the only reason for increasing the debt beyond the impossible to pay point is to get even more people dependent on it.  Now accept your responsibility to pay it off, shut up and hold still, this is gonna hurt.  When the dollar crashes you will cry and beg for us to do something.  We will.  We will rule over you with a gun and a whip, to make sure this debt is serviced no matter what."

Conax's picture

Well put.

Remember, slavery isn't bad as long as you are the one holding the whip.

The mack-daddy thinks he will.

TaxSlave's picture

Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it.


malikai's picture

Why is it that practically every time one of these plutocrats speaks into the camera, oil, silver, and gold soar? This must be that "confidence" thing they're always talking about.

tiger7905's picture

Jim Sinclair see's $1764 as a milestone gold price where confidence is lost and says significant resistance will exist here. http://goldandsilverlinings.com/?p=1449

foofoojin's picture

I'm thinking $1776, it's got a nice ring too it.

Long-John-Silver's picture

$1781 is when the revolution starts.

Diogenes's picture

I discovered gold at $1492.


DavidC's picture

Nice one LJS! Made me smile!


SoNH80's picture

It's because, somewhere in Hong Kong, in a tasteful penthouse on a hilltop, a small man wearing a bowtie watches them on TV and exclaims, in Cantonese, WTF????- and calls his PM broker again.....

theMAXILOPEZpsycho's picture

Fuck me silly! So many missed opportunities! Don't need to buy physical for these occasions; just but some down on margin then cash out later that evening and have a bottle of good red wine..

Please, can we start alerts on ZH: bernak, speaks tomorrow - long silver and gold!

HungrySeagull's picture

I don't dare buy on margin.

I don't care for Obama's TV appearences. I used to when Osama was killed and right done properly.

I don't play on the Internet for any other reason than to mine it for actionable news.

I do like what I have done so far with PM's Profit territory is sweet.

theMAXILOPEZpsycho's picture

Me neither up until now...

I'd say if the PMs do get a good knock down in August, then would be the time to buy on margin (also stack physical as well)

taxpayer102's picture

Posted on www.dagongcredit.com 14 July 2011 :

Dagong Global Credit Rating Co., Ltd. (hereinafter referred to as “Dagong”) initially assigned the United States sovereign credit a rating of AA in July 2010. On November 3, 2010, the U.S. Federal Reserve announced the QE2 monetary policy, which aimed at stimulating the U.S. economy through issuing an excessive amount of U.S. dollars. Dagong saw this action as a sign of the collapse of the U.S. government’s ability to repay its debt and the drastic decline of its intention to repay, and therefore downgraded the U.S.’ credit rating to A+/negative on November 9, 2010. This surveillance research confirmed the opinion that the U.S. government’s actual ability to repay its debt would tend to continuously decline, as Dagong stated in the last rating report. Therefore, Dagong puts both local and foreign currency sovereign credit rating of the United States on the Negative Watch List for the following reasons:
1. The U.S. ideas and policies on state-management and economy, which violate the development patterns of credit economic society, will result in a long-term recession of its economy. The national policy of expanding the social credit demand to satisfy the capital expansion and consumption demand that the U.S. government has adopted for a long time as well as the mismatched development of the financial industry makes them the origin of the bubble economy and credit crisis; the industrial hallowing-out deprives the country of the wealth creation capability that supports its huge amount of debts; the global strategy becomes the driving force for increasingly additional debts; under its long-standing deficit policy, the federal government keeps increasing its debt ceiling; that it is difficult for the U.S. to repay its gigantic debts via self-created wealth causes the U.S. to resort to abnormal means to export debts. Though the Obama administration has realized the fore-said problems and begun to reform the economic growth model and cut the government deficit, yet the current political regime, long-standing economic features and the fact of insufficient financial resources will make it difficult for the reform to be effective in the short to medium term. The continuous economic recession in the U.S. triggered by the government’s insufficient economic management capability has shaken the economic basis of its national solvency...

Calculated_Risk's picture

Because they are natures polygraph test..

Cognitive Dissonance's picture

Mr. T says "Quit the Jibber Jabber fool. Just watch the price of Gold."

caerus's picture

"I pity the fool who don't buy gold! Uuuuuggghhh!"

Cognitive Dissonance's picture

Gold, the only lie detector that actually works. And the great thing is we don't need to hook it up to the liar for it to work.

Gold, it's what's for real.

Problem Is's picture

CD: You really miss reruns of the A-Team... don't you?

Cognitive Dissonance's picture

Hulu.com fool.

Though the standard definition episodes are hard on these old eyes. But there's something about the no nonsense Mr. T that just brings the Gold fool out in me. :)


Shell Game's picture

"Gold, the only lie detector that works."

I like that.  Trouble is it's only allowed to hint at the truth, a gun has been at its family's head for years..

HungrySeagull's picture

Mr T. The Gold Choked English Language street-jive butchering strongman of a TV show that was created to amuse the masses suffering withdrawl symptoms from watching Bronson.

pods's picture

Mr. O says "Eat your peas, bitchez!"


augie's picture

I'm proud to be Maladjusted...and i never inted to adjust myself to economic conditions that will take necessities from the many to give luxuries to the few"


context maybe different, but the truth remains the same. The state is the enemy. 

Libertarian777's picture

Well he spoke the truth for about 2min.
We had 2 wars that weren't paid for (he leaves out Libya, which he started, which also isn't paid for), Medicare prescription drug benefit, stimulus (which contrary to his view was NOT required). He then goes on to say we must tax more to pay for this spending.

At no time has he said we should stop the spending.
He also left out the bank bailouts. Not mentioning that you taxpayers must pay for those GS, MS, JPM and AIG bonuses.

Keep the change Owebama. I use to think Bush was bad, Owebama makes Bush look fiscally prudent.

The debt talks are down to $1.4trillion in cuts. Even if we cut that much this year we'd STILL have a $200bn deficit. Yet they arguing about cuts over 10 years.

PY-129-20's picture

Since 1978 the debt ceiling was raised 51 times. Under Bush jr. it was raised 10 times.

Shell Game's picture

The evidence of our singular paradigm disguised as two parties is pretty hard to ignore. Yet is continually by the herd. fubar.

TexasAggie's picture

According to the Congressional Research Service (4/29/2008). As of that date, the debt ceiling had been raised 5 times under Pres Bush (2002, 2003, 2005, 2006, and 2007). It was probably raised in 2008, but on 1/20/2009, your lover boy took over and has been exceeding Pres Bush in accumulating more debt in 2.5 ys that Pres Bush did in 8 (including a recession from clinton) the 9/11 attack.

So do more research next time.

thunderchief's picture

What do all you morons want in the White House?  Harry Potter?  It's all your fault.  He's just there to tell you how bad you, your friends, family and ancesters have F*&cked the whole thing up.  Get a life and live with it losers.

HungrySeagull's picture

Fuck off thunderchief, it is OUR White House and WE get to have a say who does what, when and how in America's House. I should junk you too but rather hold off.

fallout11's picture

You have to admit, where we are today is a product of a long road and a lot of bad decisions. It certainly did not happen overnight.

cosmictrainwreck's picture

"lies, damned lies and statistics" year after year after year, yes

RingToneDeaf's picture

The Grifter extraordinaire,  da great telepromptor reader telling lies?

Sirly you Jest.

He is worse, much worse. Vote Obammy 2012, get the Party started.


snowball777's picture

Oil companies, corporate jet owners....

What about GE, Barry?

What about GS, Barry?

What about GM, Barry?

TheTmfreak's picture

Those are working class americans..... Wait.. working class...... uhm.. chinese?

HungrySeagull's picture

The Chinese Resturant has always been a combination of Intake, stepping stone and training center for life in the USA for anyone coming out of China's Village via San Fran. They have been doing it since the railroads were built.

Dolar in a vortex's picture

Wouldn't you think a reporter would have the guts to ask that?