T-Minus Two Months Until The $500 Billion Rolling Debt Ticking Timebomb Goes Off

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Fri, 07/01/2011 - 14:09 | 1419608 bernorange
bernorange's picture

Probably why Timmy wants to quit around that time.

Fri, 07/01/2011 - 14:17 | 1419626 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Raise the debt ceiling or bust!

Fri, 07/01/2011 - 14:32 | 1419677 SheepDog-One
SheepDog-One's picture

Bust the debt ceiling, or bust!

Fri, 07/01/2011 - 14:50 | 1419722 falak pema
falak pema's picture

oh, dolly! Good bye to all that!

Fri, 07/01/2011 - 15:16 | 1419830 JW n FL
JW n FL's picture

The Republican's! who I hate! are going to bring about Change we all can believe in! I hope Ya'll got your Guns! Ammo!! and Food!!! ready.. with fall back positions! The democrats and the republicans are going to destroy this Country so that it can be made over in a more Bank Friendly Format! LULZ!! Internet Switch is a comin boyz!

Fri, 07/01/2011 - 15:45 | 1419930 Pool Shark
Pool Shark's picture


Both parties have already destroyed the country.

All that's happening now is that the facade is being stripped away to reveal the horrible truth: we're bankrupt.


Fri, 07/01/2011 - 18:56 | 1420376 Michael
Michael's picture

Rolling over old national debt is like issuing new debt. It has all the trappings of issuing new debt except it doesn't increase the size of the national debt.

I thank God everyday for the complete and total economic collapse of the USA.
When we finally default, the rest of the world will cut us off from trade with them and we will get our manufacturing jobs back because we need replacement parts for our shit.
Default is a win win for the .

Fri, 07/01/2011 - 21:51 | 1420654 BigDuke6
BigDuke6's picture

I'm with you.

And if default really would do that to the usa then i think we can all safely say that an agreement will be reached where the politicos can save it up for another day with the can kicked down the road yet again.

It doen't feel right yet... these people are the lowest of the low, they'll keep kicking until the wheels are totally off for all to see.

Sat, 07/02/2011 - 00:39 | 1420812 Quixotic_Not
Quixotic_Not's picture

Since The Trend is firmly in place, the only question is whether the U$D will hold any value after default until Jan. 2012 and what currency will replace it?

¿Tienes plata gringo?

Sat, 07/02/2011 - 01:00 | 1420826 Oh regional Indian
Oh regional Indian's picture

Quix, I heard you Quixit in des-gust a few weeks ago. Didn't you? But this place is like crack eh? Keep coming back fro more.

And perhaps your question should be will the USD trade for anything of value. it hold's no value in and of itself.

My sign reading, batting a decent average as I type, says we will see major dislocations between tnow and July 15th, with July 16th as a key date.

In the light of what is to unfold, whether in the Nuclear Mid-west or freak heat for snow-melt, reality will trump all this nonsense soon. We need look no further than Fukushima and the rolling disaster signs in the US.

Our new normal, nothing like the old normal.



Sat, 07/02/2011 - 01:39 | 1420834 Quixotic_Not
Quixotic_Not's picture

Sorry, don't give two-bits about the opinion of some H1B wannabe...The rumours of my departure have been greatly exaggerated ;-)

Only concerned with hard asset value internally within the former USofA, not looking to purchase foreign trinkets or pathetic attempts at labour.

Since I moved my U$D holdings out of T-Direct, I'm sincerely hoping the dollar maintains par against 'MeriKan Ponzi housing schemes, but I'm starting to worry that the huddled masses will miss the opportunity to sell their inflated assets before 2012 Obamageddon...

Too bad none of former US patriots have a crystal ball!

P.S. Just curious, did you have your Indian piece of ass come to the US on a tourist visa - Like millions of other H1B temp visa slaves - and did you make her pop out a bambino so you and your lil' tribe could claim 'MeriKan "citizenship"?

If not, get with the scam!

New Yawk City is awash in anchor babies...

Sat, 07/02/2011 - 03:56 | 1420927 TruthInSunshine
TruthInSunshine's picture

Hmmm...I wonder if they will or won't raise the debt ceiling?

I'm really analyzing this. It's a profound issue with profound consequences and implication.

Will they or won't they?


/SARC/xQExTARPxTALFxMaiden LanexHilarity+∞²

Sat, 07/02/2011 - 12:22 | 1421221 TaxSlave
TaxSlave's picture

It's not what the debt BUYS that matters.

It's what the debt SELLS.



Sat, 07/02/2011 - 08:13 | 1421083 Oh regional Indian
Oh regional Indian's picture

Ahhhhhhhaaaaaaah! A liar AND an asshole.
Good luck mate!
I'm in India BTW.
You are welcome to your dystopia and your hate.

Sat, 07/02/2011 - 12:22 | 1421226 cosmictrainwreck
cosmictrainwreck's picture

the dude's in love with himself, that's all. which makes him a prick. aside from that, he does (on rare occasion) make pertinent comments

Sat, 07/02/2011 - 15:29 | 1421436 Oh regional Indian
Oh regional Indian's picture

*nods* clearly. And he does.


Sat, 07/02/2011 - 02:50 | 1420871 Michael
Michael's picture

I love Dr Ron Paul.

He says;

"The US defaulted on its national debt many times before. It wasn't the end of the world the last few times. We muddled through it. We can do it again." 

Sat, 07/02/2011 - 03:27 | 1420875 Michael
Michael's picture

So what if you wanted a monetary system that was different than the one we have now?

After the default we could try one that Ron Paul could describe. Imagine that, a President who could actually describe to the American people from his own mouth not reading a teleprompter, what a new monetary system we should use and be like, in great detail. What other man on the planet Earth could copy what Paul could actually do? 

No other person running for President in the country could do that.

Sat, 07/02/2011 - 03:43 | 1420895 Michael
Michael's picture

Dr Paul, he had a good life. He just wishes it could be there for his grand kids.

He knows his grand kids have another 75 years to go.

Sat, 07/02/2011 - 05:10 | 1421021 Michael
Michael's picture

I just got an idea for a new Youtube upload.

Tell me what you think?

Things That Should Not Be Said In Public! Dr. Who?


Sat, 07/02/2011 - 08:05 | 1421077 Zero Govt
Zero Govt's picture

Benny has an Ap for that: 'Print'

Sat, 07/02/2011 - 15:51 | 1421476 1inchRacker
1inchRacker's picture

to: JW n FL

"Obama LOVES us!!


Obama $656 Million LOBBY Dollars! http://bit.ly/Tu4v Obama Let the FED Print 1/2 a Trillion since Jan 1 2011 http://bit.ly/aBu9yF  "

I guess it's all Obama's fault, right? I mean, he didn't inherit a crappy situation or anything, did he ?

Fri, 07/01/2011 - 22:21 | 1420687 FlyPaper
FlyPaper's picture

Pool Shark +1 - both parties spent money we didn't have.   [Clinton's "balanced" budget was not balanced if they had not taken the excess from Social Security].

Fri, 07/01/2011 - 16:07 | 1420022 Gully Foyle
Gully Foyle's picture


Off the meds again

Fri, 07/01/2011 - 16:10 | 1420055 JW n FL
JW n FL's picture

what do you think is going to happen with the full faith of the American Dollar is called into serious question?


Unicorns shitting rainbow skittle turds everywhere?

Fri, 07/01/2011 - 16:23 | 1420091 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Don't you want to go where the rainbow ends?

Fri, 07/01/2011 - 16:30 | 1420106 Rodent Freikorps
Rodent Freikorps's picture


Too many leprechauns wanting to bum an American cigarette.

Fri, 07/01/2011 - 19:45 | 1420482 Dugald
Dugald's picture

Not forgetting....Got any Gum Chum!!!

Sat, 07/02/2011 - 08:28 | 1421086 Medea
Medea's picture

Pynchon sighting!

Sat, 07/02/2011 - 01:35 | 1420840 Printfaster
Printfaster's picture

The last Irishman that worked for me loved saying at the end of a meeting:  "I need to murder a fag".

Not very PC.  But very Irish.

Fri, 07/01/2011 - 19:00 | 1420406 topcallingtroll
topcallingtroll's picture

what I think will happen is a chance to rebuild a limited government with true individual liberty and personal responsibility for all.

Of course the next ten years or so might not be too pleasant, but you can't make an omelete without smashing a few eggs and blending them up, adding a little cream and bacon.  I always think a little bell and jalepeno pepper works great too.

Fri, 07/01/2011 - 21:24 | 1420627 JW n FL
JW n FL's picture

I was brought up to put Tabasco in.. with or without peppers.. give it a try.. Louisiana as well I have developed a taste for over the last 5 years of so?


I LOVE Breakfast!

Fri, 07/01/2011 - 19:24 | 1420451 oldman
oldman's picture

'full faith and credit" of the US Treasury, or Government, or how did that go on those old bond indentures?

I haven't seen one in a couple of decades----all digital now, no?

Does anyone know anything about what I can't remember?


Sat, 07/02/2011 - 02:15 | 1420860 dolly madison
dolly madison's picture

My prediction of what will happen unfortunately is they will raise the debt ceiling, and in the process of doing that the Reps will win at pushing for austerity.  The game is the Reps ask for austerity, the Dems fight, but lose.  They want us as cheap labor.  They want to make us all poor, so we will be desperate and cheap.

Sat, 07/02/2011 - 02:28 | 1420864 Quixotic_Not
Quixotic_Not's picture

You would be wrong!

'MeriKans, by continuing to vote for the (D) & (R) Duopoly, have volunteered themselves and their progeny to the new Fuedalism.

Sorry, but there's no one here to blame but We The Sheeple themselves...

The road to hell is paved with selfish fantasies.

Please, do try to keep up, and pull your head out of your arse before you suffocate!

Sat, 07/02/2011 - 11:52 | 1421195 legal eagle
legal eagle's picture

I see an increase in the aggregate supply of prostitutes.

Fri, 07/01/2011 - 14:33 | 1419694 Freebird
Freebird's picture

Not before time for an asset firesale & not talking Ukranian
hooker bitches in the Hamptons. Greek style. US Sell your gold
( Hahmmm ), sell Manhattan, sell everything possible until
there is a few trillion available to pay down the steaming

Fri, 07/01/2011 - 14:55 | 1419736 Dreadker
Dreadker's picture

Maybe the opening trailer for Modern Warfare 3 was actually a prophecy... Chinese submarines in New York harbor coming to collect whats owed to them lol

Sat, 07/02/2011 - 06:55 | 1421049 max2205
max2205's picture

When will TLT trade on the pink sheets?

Fri, 07/01/2011 - 17:19 | 1420239 malikai
malikai's picture

This premise, like that super bowl commercial is rediculous. If the US defaults on the debt, EVERYONE will drop treasuries, including the Chinese. What happens afterwards is anybody's guess, but it won't end with hoards of angry Chinese demanding payment due. But it might end with hoards of BMW drivers walking for a change.

Fri, 07/01/2011 - 22:53 | 1420731 CompassionateFascist
CompassionateFascist's picture

None of this apocalyptic stuff is going to happen...yet. First, both parties are posturing, playing to their constituencies, special interests, group entitlements. There'll be a deal, mid- to late-July, involving Xtrillions in "spending cuts" (over the next 10 years....), none of which will ever actually occur, and some token, nuisance increases in taxes and fees. That's all; oh, almost forget, Boner will have a good cry at the signing ceremony. Then back to the Universal Ponzi for maybe another 12 months. More important reason it's not going to happen...yet...is that I am still insufficiently stockpiled and weaponized.  

Sat, 07/02/2011 - 05:51 | 1421035 turds in the pu...
turds in the punchbowl's picture

walking sucks balls

Fri, 07/01/2011 - 15:03 | 1419766 Jonas Parker
Jonas Parker's picture

Somebody would BUY Manhattan??? Do they have to take Goldman Sachs, JP Morgan Chase, and Bof A too??? Can we throw in San Francisco and Nancy Pelosi???  Naw... nobody's that dumb!

Fri, 07/01/2011 - 18:16 | 1420335 FinalCollapse
FinalCollapse's picture

Buzz off from San Francisco. You can take Nancy though. 


Fri, 07/01/2011 - 15:17 | 1419833 zerozulu
zerozulu's picture

Total US assets are US$75.55 trillions dollars. Still long way to go.

Fri, 07/01/2011 - 15:21 | 1419853 lolmao500
lolmao500's picture

You think one night with Michelle Obama is worth that much?

Fri, 07/01/2011 - 17:31 | 1420275 GtownSLV
GtownSLV's picture

I could wash myself clean of that experience for $75T but not a penny less!

Fri, 07/01/2011 - 15:26 | 1419870 hannah
hannah's picture

mark-to-myth total us assets are us$75tril.....while actual value is what you can get for cash.....so who has $75tril in credit to buy our assets...oh wait...we sell the assets to ourselves...? right.....the 'we are the richest nation on earth' crap is wearing a little thin.....

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