Paul O'Neill: People Who Refuse To Raise The Debt Ceiling Are "Our Version Of Al-Qaeda Terrorists"

Tyler Durden's picture

The below Bloomberg TV interview with Paul O'Neill pretty much jumps the shark in Mutual Assured Destruction. Whenever someone says "people who are threatening not to pass the debt ceiling are our version of Al-Qaeda terrorists. Really. They're really putting our whole society at risk" it is obvious that the issue is beyond rational and has crept up into the demented extreme of demagogy. This one statement may have just doomed the whole debt hiking debate as nobody will cede to being perceived as not only a terrorist but, what is far worse, a weak terrorist by the general population.

From the interview:

On Treasury Secretary Geithner's engagement in the process surrounding the debt ceiling vote:

"I think the Treasury Secretary needs to be judged in his own context. I believe that administrations for the last 30 years have made a mistake, in this sense. There is now a set of practices that are employed that are effectively accounting engineering, to extend reaching the debt ceiling…How do we get from May to July by doing financial accounting tricks? I think it helps the Congress to avoid being responsible. I think that's a really bad idea."
 
"I wish Tim Geithner would say, when we reach the debt ceiling, we reach the debt ceiling, we are not going to do tricks down here…The Congress needs to be responsible and adult and take action on the deficit. The people who are threatening not to pass the debt ceiling are our version of Al-Qaeda terrorists. Really. They're really putting our whole society at risk by threatening to round up 50 percent of the members of the Congress, who are looney, who would put our credit at risk."
 
On Boehner wrapping in a conversation over the debt ceiling in the budget debate:
 
"I do [think Boehner is dangerous.]Because there's a chance, if you look at some of the things that people say, well, we still have enough money to pay the interest on our debt, that is beside the point. This is permitting us to pay the bills that we have already incurred."
 
"I do believe we have been broken political system that is capable of doing irresponsible things. This whole conversation is irresponsible."

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Dangertime's picture

I think one could argue that allowing the country to borrow so much is akin to financial terrorism.

swissaustrian's picture

Ron Paul calling for fiscal sanity = the new Bin Ladin

John McCain travelling to Libya to negotiate witch al-quaeda led "rebels" = promoting democracy

 

jerry_theking_lawler's picture

I predict in the future, the word 'terrorist' will be pulled out by anyone who wishes to attack a competing interest/ideal.

the true meaning will be lost to the masses as it will be used like water.

DOT's picture

I'll be first !

You sir, are a terrorist.

digalert's picture

DHS ALERT!

Paul O'neill is a double agent spy...he's talking out his ass!

Quantum Nucleonics's picture

Wow, what rock did they drag him out from underneath?  Arguably one of the worst Treasury Secretarys in recent memory, and that's setting the bar pretty low.

buzzsaw99's picture

what a disgusting pie hole.

JustPrintMoreDuh's picture

So as to avoid having this debate all over again next month, 

the new debt ceiling has been set at a rather large number raised to the power of a googolplex

Threeggg's picture

Gold/Silver just took a huge jump $1524.18 !

Where is methman ????/

Oh well, I guess we'll see him at the next expiry ! 

See you then Meth    ((0)-(0))

 

slewie the pi-rat's picture

yeah, but, they're going parabolic, so that's bad, right?  it's a headfake!  again!

dangertime will buy more puts, here, thankful he has more FRNs to lose from liquidating his "non-core" positions in physical Pms. 

then, in an hour, when gold is @ 1492 and Ag @ 42.19, he will cruise by in his new porsche and make us all feel like shit because we missed something.  again. 

bob_dabolina's picture

The comments on this thread are colorful and entertaining. There are quite a few gems here.

redpill's picture

Terrorists because they don't support the ponzi scheme?  Fuck you, sir.

 

Bartanist's picture

How do people get so twisted that they only look at the symptoms and not the causes.

Until there is a responsible government that addresses the causes, such as misallocation of resources, theft, fraud, murder, US government sponsored terrorism embezzlement and Ponzi scheming to support the life style and ego of useless parasites; they do not deserve one single penny. Everyone from the president, treasury, congress, through the state department, the pentagoons and lack of intelligence agencies should all be fired and we should start from scratch ... and not as part of a global government because that will simply be more fascism.

 

I am convinced that they constitution had it right and little manageable parts are more sustainable and better for people than an unwiedly groping and corrupt empire (is there any other kind?).

Re-Discovery's picture

Certainly won't win the surfing contest, but I jumped back on the Silver wave at about 11:45 and should have a pretty good ride.  I think big move up overnight, then some sideways down tomorrow then back on upward trend.  Someone got the "just before" release and started selling treasuries.  PMs moved just before noon.  Inflation trade people.  Get onboard!

DavidC's picture

He was contradicting himself.

"There is now a set of practices that are....effectively accounting engineering, to extend reaching the debt ceiling... think it helps the Congress to avoid being responsible. I think that's a really bad idea."

"I wish Tim Geithner would say, when we reach the debt ceiling, we reach the debt ceiling, we are not going to do tricks down here…The Congress needs to be responsible and adult and take action on the deficit".

And then says the following!
"The people who are threatening not to pass the debt ceiling are our version of Al-Qaeda terrorists. Really. They're really putting our whole society at risk by threatening to round up 50 percent of the members of the Congress, who are looney, who would put our credit at risk."

Make up your mind!

Although I do agree with
"I do believe we have a broken political system that is capable of doing irresponsible things. This whole conversation is irresponsible."

DavidC

Assetman's picture

Contradictory, indeed.

By its very action, increasing the debt ceiling encourages even more irresponsbile deficit spending.  If Congress were actually "responsible about doing something on the deficit", breaching the ceiling all these years would never have been an issue.

So... for whom is the term "financial terrorist" more descriptive? 

One who enslaves the population by allowing goverment to continue deficit spending and dig an even bigger debt hole by raising the debt ceiling... most likely by $trillions?

Or one who draws the line on deficit spending, and aggressively enforces spending discipline by keeping the debt ceiling intact? 

I mean, wasn't that why there was a debt ceiling created in the first place???

Methinks Paul O'Neill is either an idiot or a (debt) snake oil salesman.  While both descriptions may fit, neither rank too highly in my book.

OldTrooper's picture

You just need to translate from Goldmanese to English.  For example, the phrase "our whole society" translates to "my masters who harvest the lives' work of all this land".  The literal meaning of "Congress needs to be responsible" is "those asshats we gave positions to must follow their fucking orders or else".

When you translate the entire message it makes perfect sense.

Aristophanes's picture

The terms "terrorist" and "freedom fighter" are often used by differing crowds to describe the same person.  Are you a terrorist if you fight against politicians who are committing treason?

Whatta's picture

dang, you confuse me, but generally it depends on which side Wall Street/The FED has the President on at the time

aeonic's picture

I hope this guy gets AIDs and dies.

bob_dabolina's picture

I hope he gets cancer of the eyes and a hemorrhaging rectum

Aristophanes's picture

...perhaps at the same time because his head is so far up his own rectum.

slackrabbit's picture

man this is like Looney Tunes / Itchy and Scratchy.....therefore......all this while he suddenly looks  down and realises he has stepped off a cliff.

Muir's picture

-

I think we should all acquiesce and voluntarily become serfs or indentured servants.

Of course, unless you are in the top 1/10th% percentile, your children should also work in the garment trade or coal mines starting at around 9+-.

-

sbenard's picture

2011 growth rate of US debt - 12%

2011 growth rate of US economy - 2%

Who is the terrorist? The one who keeps our debt growing at the suicidal 6X the growth of the economy, or those who stop the suicide deathwish? I think the answer is obvious!

FranSix's picture

You mean, people refusing to raise the debt ceiling are hard up for sex?  Thanks, Dad!!  Thanks a lot!!

http://www.businessinsider.com/10-scientifically-proven-controversial-tr...

AN0NYM0US's picture

please don't pollute ZH with links to Henry Business Insider' piece of Huffington crap blog

Andrew_Jackson's picture

What a douchebag!  Yes, very irresponsible to authorize spending more money we do not have...

Weisbrot's picture

Time to take some responsibility while there is still something worth salvaging, Perhaps JFK was right is wanting to end the Fed.......................

kito's picture

stupid fucknut. its like a doctor telling a patient, its irresponsible of you to go on a diet now, because it will mean no more hot dogs and hamburgers for you, and i wouldnt want to see you emotionally distressed. lets wait till the massive coronary and the triple bypass in a few years

sbenard's picture

good analogy. I must remember that one! Thanks!

Rusty Shorts's picture

 - what? no more cigs and beer?

 

my god.

WallStreetClassAction.com's picture

Your analogies are as fitting as your upbringing. Sorry.

JLee2027's picture

What an ass O'Neill is. Pot kettle, black.

darteaus's picture

Yeah, right a$$hØle; save that bunk for the rubes.

It's the people who's spending requires a debt ceiling in the first place that are the terrorists.

The Alarmist's picture

If you go to the OED or Merriam Webster and look up the definition of "Contrarian Indicator," you will find a picture of Mr. O'Neill.  Now, if only the GOP leadership had the sense to embrace the concept of a contrarian indicator.

The only members of the GOP with Cajones are the women like Bachman.

 

baby_BLYTHE's picture

Sure wish she would start caring more about the Constitution she cites almost every speech. Civil liberty is the bedrock of a free society, a vote to EXTEND the Patriot Act is perhaps the largest FU one can give to the principel's of individual liberty!

jbt6561's picture

paul o'neill has always been prone to overreaction...i remember when he played outfiled for the Yankees, when he would strikeout he would always kick the watercooler.

carbonmutant's picture

After stealing my money the thief demanded my ATM codes.

"If you don't gimme what I want you're a terrorist."

 

slewie the pi-rat's picture

paul 0'.00???  jeeeeez!  where the fuk's paul volker when we need him?  oh, yeah.  prez milk dud kicked his heretical ass outa washington.

wait!  this just in from reuters (via the reuter rooter):  volker has been kidnapped!  those in charge of protecting the debasement of our currency have locked him in debasement of jpmorgue!  in blythe's new PM vault!  he is bound and gagged, and blythe has just decided against having the faux canadian mounties who guard her vault (she loves the uniforms and the smell of horse-shit in the morning) un-gag him so she could waterboard him by having "jeanpeeaire" hold his nose while she lifts her darling skirt and pisses in his mouth.  (she never wears panties on the final day of a contract).  so she just pisses on his shirt, instead.  can you believe he's wearing a jerry garcia tie?

oh, the humanity!

[think slewie has succomed to the news cycle bubble?] 

bong TFD!

A Lunatic's picture

I have a debt ceiling.......it's called a fucking paycheck.

Creed's picture

I have a debt ceiling.......it's called a fucking paycheck.

 

 

wins the thread!

Forgiven's picture

So now if you believe in small government and accountability to the taxpayers you are equated to Al Quaeda terrorists?!!!  This guy needs to be dragged into the streets and beaten with a cane pole.

Gimp's picture

New tactic to get everybody on board the ponzi scheme...

the name calling - your a racists crap ain't working anymore

new mantra...your a terrorist if you don't fall in line....

Is it 1933 in Munich or WTF?

Signed, an American and veteran (so I must be on the list)

element115's picture

Hey you stupid fucking dried up WASP mother fucker, why don't you try treating us like 'Al Qaeda?' You want a fucking civil war, you piece of shit? Most of us are tired of having our way of life destroyed by some fucking out of touch dinosaur. Fuck you and your privileged way of life. Just a few dollars more, right Paul. Fuck you and every other banker who doesn't know when to quit.

A whirlwind is coming, and you will all reap it.

WallStreetClassAction.com's picture

Actually shooting up a few stoopid rednecks does sound like a fun idea, actually. As stupid as many of you are, I can only imagine your stupidity on a battlefield. Fkn clowns.