This page has been archived and commenting is disabled.

Theatrical Vote To Raise Debt Ceiling By $2.4 Trillion Begins; Does Not Pass

Tyler Durden's picture




 

Update: As expected, debt ceiling does not pass.  Final roll call:

  • Nay (Republicans 236, Democrats 82), total: 318
  • Yea (Republicans 0, Democrats 97), total: 97
  • Not Voting (Republicans 3; Democrats 6); 9

As we reported first today, any minute now the Congress will pretend to vote on HR1954, a clean debt ceiling increase of $2.4 trillion to $16.7 trillion. This will not pass. Why Congress is doing this bullshit, and why the US debt ceiling is now nothing but a farce, is a question voters should ask themselves next time they vote for their representatives. Watch the tragicomedy live at C-Span below.

 

 

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Tue, 05/31/2011 - 19:04 | 1326921 jal
jal's picture

It's the best show in town.

Tue, 05/31/2011 - 22:54 | 1327454 DaveyJones
DaveyJones's picture

If you like really dark comedies

Wed, 06/01/2011 - 00:36 | 1327644 AR15AU
AR15AU's picture

How is this bad? This is a necessary step to change the status quo.  Lets wait and see who switches from "No" to "Yes" and then by all means... call them out...

Wed, 06/01/2011 - 02:27 | 1327714 Michael
Michael's picture

Sons of bitches. I need those congress critters to raise the debt ceiling to as high as possible. I want the complete and total economic collapse of the USA to be absolutely spectacular. I want it to be an epic failure of biblical proportions.

It's not like anyone is assuming the American people can ever possibly pay for the national debt at this point. It's a mathematical certainty the US will have a complete and total economic collapse, so why not make the failure as epic as possible?

The dot-com and the housing busts weren't shit, I need an epic catastrophic financial failure for my fix. Please.

Wed, 06/01/2011 - 04:05 | 1327768 Janestool
Janestool's picture

While your at it....put on a coat and run the air conditioner in the winter...donate money from your excess fund to Exxon and the other oil majors...and promote the use of isotope soap so we can get on with it....oh, play mail box baseball as often as you can...but instead of targeting mail boxes--target solar panels....

Wed, 06/01/2011 - 04:24 | 1327795 Michael
Michael's picture

THE FEDERAL RESERVE IS THE ROOT OF ALL EVIL!

WHY IS THIS NOT THE #1 BUMPER STICKER IN AMERICA?

WHY IS THIS NOT ZERO HEDGE'S MOTTO?

Wed, 06/01/2011 - 09:49 | 1328231 Imminent Crucible
Imminent Crucible's picture

Sorry, Michael. The Fed is not the root of all evil. That honor belongs to the corrupt desire of the human heart to live at someone else's expense, to have others sweat and struggle so that you can live in comfort off their toils--see Blankfein, Lloyd.

Without this evil inclination, the Fed could accomplish none of its thefts. Congress would be unrecognizable. We would be living within our means and militaries would be small and idle, since war is primarily about stealing the wealth of other nations.

The actual practical result of having to switch from living high on Fed credit to living low on what you actually produce will be jarring enough that you will not be celebrating the event. Public roads with crater-size potholes, empty store shelves, stunningly high prices and social chaos everywhere you look. Yeah, quite a party.

I've been to Haiti twice, and it's not a vacation on Ka'anapali.

Wed, 06/01/2011 - 05:24 | 1327826 New World Chaos
New World Chaos's picture

The longer they keep reality bottled up, the more spectacular the collapse when reality inevitably explodes into the wild.  The more spectacular the collapse, the more burning federal institutions, heads on sticks, and horror stories for the grandkids.  Ultimately, the more spectacular the collapse, the more freedom for the grandkids.  I'm with you.

Wed, 06/01/2011 - 10:35 | 1328476 DaveyJones
DaveyJones's picture

you guessed it, I'm skipping to the last act. The Cliff Note version

Tue, 05/31/2011 - 23:05 | 1327489 camoes
Wed, 06/01/2011 - 00:33 | 1327640 TwoShortPlanks
TwoShortPlanks's picture

LAMO!!!!!!

TRy this one..."None shall pass!"

http://www.youtube.com/watch?v=dhRUe-gz690

Tue, 05/31/2011 - 19:04 | 1326923 Yen Cross
Yen Cross's picture

Finnaly! Mis spel intended!

    It will pass the house. Worthless people will  run away from the press!

   DO NOT RAISE the debt ceiling!!!

Tue, 05/31/2011 - 19:05 | 1326926 Island_Dweller
Island_Dweller's picture

And the lone Republican is?

Tue, 05/31/2011 - 19:27 | 1326994 mynhair
mynhair's picture

I_D, he got slapped into going NV.

Tue, 05/31/2011 - 19:06 | 1326930 A_MacLaren
A_MacLaren's picture

Crashed and burned like an asteroid entering the atmosphere

Tue, 05/31/2011 - 19:10 | 1326935 LRC Fan
LRC Fan's picture

I added some more USO puts today.  Any chance the market could drop similarly to the 2008 "omg TARP might not pass" fall?  Or is all this just going to push stocks ever higher and oil/silver/gold to the moon? 

I think we're due for a margin increase on crude.  Come on CME, get on it so I can cash in!  Volatility is too high!!

Tue, 05/31/2011 - 19:50 | 1327044 Id fight Gandhi
Id fight Gandhi's picture

Nope everything is bullish.

When the fed puts the teats away next month maybe...

Tue, 05/31/2011 - 19:07 | 1326937 nah
nah's picture

we should really liquidate and restructure the banks then try to run the nation regardless of tax crybaby camp... maybe embezlement shouldnt be easy

Tue, 05/31/2011 - 19:11 | 1326939 bob_dabolina
bob_dabolina's picture

Voting needs to be changed. 

-If you can stay on your parents healthcare plan 'till 26; 26 should be the legal age to vote. 

-If you don't have at least a minimum wage job....you don't get to vote yourself gifts from the public treasury. 

This is how it should be. 

Tue, 05/31/2011 - 19:14 | 1326951 LRC Fan
LRC Fan's picture

This post is an epic, epic fail. 

I'm not against voting in theory, as long as I'm able to opt out and not suffer the consequences of other people's decisions.  So go ahead and vote for Bush or Obama but don't make me use your fiat money or don't force me to use your schools/roads/police etc etc.  But that would lead to actually paying for what you use, or having others help you out via charity, which we cannot have here in America. 

Tue, 05/31/2011 - 19:52 | 1327034 bob_dabolina
bob_dabolina's picture

I'm not sure what angle you're coming from. 

Tue, 05/31/2011 - 21:35 | 1327274 LasVegasDave
LasVegasDave's picture

Sounds like another bitter objectivist.

love the ideas.  hate the followers.

 

 

Tue, 05/31/2011 - 23:12 | 1327502 Hephasteus
Hephasteus's picture

Yes bitter people shouldn't be allowed to complain about what works for other people. They should just be legally allowed to slaughter the parents that mistakenly bore them and shoot the cops who come to punish them for not fitting in.

Oh but they shouldn't be allowed to live outside the system. Cause they have to fit in but any attempt to fit in results in cruelty.

You are the weakest mindfuck.

Tue, 05/31/2011 - 22:26 | 1327396 ColonelCooper
ColonelCooper's picture

Your post and Bob's are an apples to grapefruit comparison.  One can argue about the nature of a society, but you are asking to opt out of society completely.  I challenge you to try. It is virtually impossible today.  Either you are a big talker and have little experience, or you are genuine, and unfortunate: born a couple of hundred years too late.

I am all for your ideal.  We just have a couple billion too many people on the face of the Earth to pull it off.  You answer that problem, and I'll help you raise walls on your cabin.

Tue, 05/31/2011 - 21:02 | 1327212 blunderdog
blunderdog's picture

That's silly.  The voters don't have anything to do with the crimes of our government.  The country's run by a few thousand rich folks.

You could give the vote to household pets and not a damn thing would change.  That's the beauty of every decision being phrased/made/executed by fewer than 1000 corrupt "representatives."

Tue, 05/31/2011 - 21:37 | 1327255 bob_dabolina
bob_dabolina's picture

Citizens whom don't pay taxes are pets. 

That's why they shouldn't have a vote.

If you don't pay taxes....you should NOT have a right to vote.

If you are collecting welfare with NO job...you should NOT have the right to vote.

What gives you the right to vote entitlements with other peoples money if you have no money to put up yourself? 

Tue, 05/31/2011 - 21:41 | 1327271 downwiththebanks
downwiththebanks's picture

Everyone pays sales tax, Banker-Gangster.

If you rob people blind with lies and brigandage, do you deserve a right to vote?

What about the Capitalist ratfuckers responsible for the Depression?  Should they be allowed to vote?

Tue, 05/31/2011 - 21:49 | 1327297 bob_dabolina
bob_dabolina's picture

If you don't pay income tax, you should not be eligible to vote. 

Period.

Tue, 05/31/2011 - 21:50 | 1327301 downwiththebanks
downwiththebanks's picture

If you don't pay turnover tax on derivatives, you should be shot.

Tue, 05/31/2011 - 21:50 | 1327302 Dr. No
Dr. No's picture

Since I dont vote, can I not pay taxes?

Tue, 05/31/2011 - 21:53 | 1327308 bob_dabolina
bob_dabolina's picture

If you pay income tax, and don't vote, I'll tell you what you can do....

Shut the fuck up.

Tue, 05/31/2011 - 21:56 | 1327317 Dr. No
Dr. No's picture

Your goal should be the elimination of taxes, not controlling votes for people who pay.  Treat the disease not the symptom.  Another thing, I believe in free speech (as well as other rights) regardless of how much i pay in taxes.

Tue, 05/31/2011 - 22:03 | 1327327 bob_dabolina
bob_dabolina's picture

I'm not even going to entertain this comment.

Tue, 05/31/2011 - 22:01 | 1327330 Dr. No
Dr. No's picture

Thats because you do not challenge yourself with thought.

Tue, 05/31/2011 - 22:03 | 1327337 bob_dabolina
bob_dabolina's picture

I don't want to insult you. Don't put me in that position.

Tue, 05/31/2011 - 22:05 | 1327339 Dr. No
Dr. No's picture

This country existed longer without income tax than with it.  So your argument about not having the ability to vote if you do not pay income tax does not make sense.

Tue, 05/31/2011 - 22:10 | 1327352 bob_dabolina
bob_dabolina's picture

During that time period how much welfare did we have? 

How many wars were we involved in? 

Tue, 05/31/2011 - 22:15 | 1327368 Dr. No
Dr. No's picture

Once again, the symptoms of the desease.  Cut the tax rather than worry about who votes.

Tue, 05/31/2011 - 22:30 | 1327391 bob_dabolina
bob_dabolina's picture

Are you a fucking idiot? 

If you have more people leaching from the system than contributing to it, it's going to fail. 

That's precisely what we have RIGHT NOW. 

Why should anyone work if the government promises us all food/clothing/shelter? 

Where is the need to do it yourself? When everyone gets on that paige, than who builds the shelter, produces the food, and manufactures the clothes?

I'll give you the last word. I'm done with this argument. 

Tue, 05/31/2011 - 22:32 | 1327402 ColonelCooper
ColonelCooper's picture

Bob, you're both right.  The difference is that he's amputating what you're cauterizing. 

Tue, 05/31/2011 - 22:47 | 1327442 bob_dabolina
bob_dabolina's picture

I hear ya. But....

If you can vote yourself gifts from the public treasury in perpetuity than there is no incentive not to. If you pay taxes than you are obviously more attune to making prudent descions. 

I just don't see how a vote paying $100,000 a year in taxes is equivalent to a vote collecting welfare receiving an equal vote is just or equal in descsion making.

Tue, 05/31/2011 - 23:01 | 1327470 Dr. No
Dr. No's picture

I actually believe voting should be based upon iq. Neither of will have our way.

Wed, 06/01/2011 - 08:06 | 1327937 BillyBoy22
BillyBoy22's picture

This argument implies that voting matters.  It doesnt

Wed, 06/01/2011 - 10:19 | 1328368 cranky-old-geezer
cranky-old-geezer's picture

 

 

 

 

 

 

 

 

 

Nobody fucking cares what you think moron.

And dammit I hate comments crowding up against the right margin like this.

Tue, 05/31/2011 - 22:47 | 1327437 GreenSideUp
GreenSideUp's picture

Your goal should be the elimination of taxes

 

Word!

Tue, 05/31/2011 - 21:36 | 1327276 blunderdog
blunderdog's picture

You really don't get it.  The people you love to hate DON'T vote themselves entitlements.  That's not how our government works.  The folks you want to prevent from voting don't vote in the first place, and if they did, most of them would be dumb enough to vote for the same guy you prefer.

http://www.rall.com/rallblog/comics/2010-10-11.jpg

Wake up.

Tue, 05/31/2011 - 21:48 | 1327296 bob_dabolina
bob_dabolina's picture

If you don't pay income tax you shouldn't have a vote. 

Period. 

Tue, 05/31/2011 - 22:09 | 1327347 knowless
knowless's picture

no man who contributes to society should pay an income tax.

Tue, 05/31/2011 - 22:11 | 1327357 blunderdog
blunderdog's picture

Oookay.  You're a moron.

Tue, 05/31/2011 - 22:32 | 1327406 bob_dabolina
bob_dabolina's picture

What's the dollar doing? 

How does the world look at us? 

....and you're calling me a moron? 

Ok....let's continue on your path. It appears to be the path towards prosperity. With 1 in 6 on food stamps your plan is working pretty well.

 

Tue, 05/31/2011 - 23:08 | 1327497 blunderdog
blunderdog's picture

I was just trying to keep it in simple declarative sentences, because that appears to be the limit of your ability to communicate.

But don't worry: when you get to be king, you can fix everything.

(Moron.)

Tue, 05/31/2011 - 22:11 | 1327345 knowless
knowless's picture

you assume that all poor take or are eligible for benefits which surpass the wealthy. this is demonstrably untrue. your argument is similarly valid for the wealthy who gain benefits through lobbying efforts, you argue that the wealthy who get free money are deserving while the poor are not; straw, neither are.

 

you think the bankers deserve to rob the (re)public?

Tue, 05/31/2011 - 22:40 | 1327420 bob_dabolina
bob_dabolina's picture

you argue that the wealthy who get free money are deserving while the poor are not

When did I ever even give an inkling toward that thought? 

Please. Point it out to me.

Tue, 05/31/2011 - 23:07 | 1327500 knowless
knowless's picture

you stated that in a system bought and sold, that those who were disenfranchised should have no voice.

 

the answer is simple, massive layoffs around election day.

Tue, 05/31/2011 - 22:14 | 1327361 Chuck Walla
Chuck Walla's picture

Don't be hatin' on the Democrats.

Wed, 06/01/2011 - 00:41 | 1327646 RockyRacoon
RockyRacoon's picture

April 10, 2009

Representation without Taxation

By Alan Aronoff

With the trillions in spending by the new Administration for the federal budget, and bailouts, our new President has two problems to solve:
  • 1. He needs to keep and expand his support base, some quarters of which are uneasy with the magnitude of the spending.
  • 2. He needs to raise a lot of money in taxes to pay for his initiatives.
The way this administration will address these problems will create winners and losers in new tax policy.

President Obama has already stated that income tax increases would not affect those making less than $250,000. This is called ‘economic justice\' which requires the government, as the arbiter of fairness, to determine how the national wealth should be allocated. Income tax return data shows that removing the Bush tax cuts is not enough to pay for the higher level of government spending as called for in the Administration\'s budget. The future for tax revenue based on raising taxes on the wealthiest Americans can be seen in the results of California\'s tax structure -the most progressive income tax scheme in the country.

In calendar year 2004, California income taxes collected were $36B. Of that $36B, 14,850 tax filers paid $8.22B or 23% of the personal income tax collected in 2004. Consider the following two observations:

  • 1. 2004 was good year economically, and many high income Californians generated much of their income from exercising stock options and stock sales.
  • 2. 14,000 is a small number compared to the 35M people living in the state. If half of these wealthiest Californians moved out of state, California would face additional and significant tax shortfall.

As a voting block, the wealthiest 1% is not significant. Many of the wealthiest 1% of Americans are not opposed to bigger government because their wealth was inherited (e.g. Ted Kennedy), or they can afford to pay the taxes -- or at least afford to pay for tax avoidance with no detriment to their standard of living. In 2006, 41% of Americans paid no income taxes according to the Tax Foundation. These include low income tax filers, many of whom benefit from the Earned Income Tax Credit which provides a "refundable tax credit" (a check from the Treasury, not a write-off) for dependents of low income wage earners. 41% of Americans is a significant segment of the American voting public. According to the AFL-CIO website, 26% of American voters are union members and the AFL-CIO was strongly supporting Barack Obama for president. Unions that will especially benefit from Obama\'s spending plans include 1.4 million members of AFSCME, American Federation of State, County and Municipal Employees, over 1 million members of the United Auto Workers, and the 1.4 million members of the American Federation of Teachers.

These beneficiaries will vote for increasing government since they benefit directly. By creating more beneficiaries of big government, Obama can create a sustainable majority voting block who will vote to raise other people\'s taxes.

During 2006, Tax Foundation economists estimate that roughly 43.4 million tax returns, representing 91 million individuals, will face a zero or negative tax liability. That\'s out of a total of 136 million federal tax returns that will be filed. Adding to this figure the 15 million households and individuals who file no tax return at all, roughly 121 million Americans-or 41 percent of the U.S. population-will be completely outside the federal income tax system in 2006.
 - Source:
Tax Foundation
If you think that the forthcoming changes in tax law will only affect wealthiest, you are mistaken. To generate significant increases in tax revenue, the middle class must be hit -- and hard.

When beneficiaries of government policy do not sufficiently overlap the payers of those benefits, we have a governing system of representation without taxation. This type of system is not sustainable long term, but history suggests it may persist for some time under the pretext of ‘economic justice\' unless soundly rejected by the American people.                          
http://www.americanthinker.com/2009/04/representation_without_taxatio.ht...

Wed, 06/01/2011 - 00:06 | 1327567 AwlDone
AwlDone's picture

As an individual living in a broke, welfare-state where we elected a previously proven failure as our governor, voters have way too much to do with the crimes of our government.  An ignorant majority is easily swayed by prophets who promise "beer and wine".  Look, we have an ungodly number sucking from the teats of the hand-out gods and when faced with the decision to 1) vote for someone who will cut them off from that milk supply to address the root of the problem or 2) vote for someone who will keep-it-a-flowin'... who do you think the're a gonna choose?  Yup, Yup ...Milk, it does a dying body good!  

We may or may not actually have the ability to choose.  I would like to see what would happen if the majority was actually free-market loving and gainfully employed...but those you speak of have molded a majority who are now willing slaves and drunk on hand-outs. 

Wed, 06/01/2011 - 00:16 | 1327610 blunderdog
blunderdog's picture

Voters are given the choice between a smack upside the head and a kick in the shin.  The system works precisely because the difference between left-hand puppet and right-hand puppet has no effect on anyone's life.

If you want to blame voters for what's wrong in the USA, there's probably not enough common ground for an intelligent conversation.  Our best bet is just to forget about the two pre-ordained choices and write in votes for Mickey Mouse while we work for a better future ON OUR OWN.

Was it demand for freebies that got Clinton elected?  And demand for freebies that got Dubya elected?  Probably so. 

It's quite obvious the difference both elections made.

(Anyway, there are still dictatorships and monarchies out there where voters aren't allowed to interfere with the proper management of government.  If you don't trust your countrymen, you can always go live somewhere where the public doesn't even get to enjoy the same level of ILLUSION of influence.)

Wed, 06/01/2011 - 01:13 | 1327671 AwlDone
AwlDone's picture

"That's silly.  The voters dont have anything to do with the crimes of our government." 

You misunderstood the intent and I may have communicated poorly.  I was taking the other side of the coin you laid out.  Responsibility is at least shared... not equally, I most readily agree.  But do you really think the majority is "educated" or understands the lack of difference between the parties?  

I have lived and worked on foreign soil.  You?   I live here by choice and vote.  No, I do not trust many of my countrymen.  Too many are too ignorant to trust.    

"ILLUSION of influence."  Agreed, but it is a sliding scale with a greater degree of illusion as you move away from local politics.

 

 

Wed, 06/01/2011 - 02:25 | 1327713 blunderdog
blunderdog's picture

I have a good deal of faith in my countrymen, but none in the current government structure, which has become almost totally resistant any form of influence from myself and my neighbors.

The good news is, most of us don't need the Federal government, and don't have to worry about it.

It's the "educated" who are the most effectively blinded to the corruption of the existing system, not the unwashed.  Ask the average high-school dropout if either party represents his interests, and I'll bet $10 he says no.  Ask the average college graduate, and he'll give you a half-dozen reasons why he prefers this team or that.

It all comes down to the question I closed with.  Would you choose societal structures which are open to common influence, or do you prefer the hand of the wise and benevolent minority?

I don't trust anyone who wields any power.  So I'll do what I can to resist any form of authority whatsoever.  My neighbor may be an untrustworthy bastard, but from where I stand, I can keep an eye on him.  Try that with Congress or the CEO of a major bank.

You say your don't trust your countrymen to vote, but guess what: those same idiots are currently getting ELECTED. 

The cause of the "problem" isn't really that tough to figure out.

Wed, 06/01/2011 - 04:10 | 1327781 Janestool
Janestool's picture

many of the voters are as corrupt and culpable as the ones they elected...neither are educated....

Tue, 05/31/2011 - 21:03 | 1327220 Dr. No
Dr. No's picture

Why stop there? "one man one vote" is the surest way to average mediocrity.

Tue, 05/31/2011 - 21:11 | 1327235 nmewn
nmewn's picture

Actually, I think there's some merit here.

If you are a ward of the state (meaning, receiving food stamps, rent vouchers, ceo, board member or employee working for a company getting a subsidation from the state etc.) you don't get a vote to increase your living standards at the expense of everyone else.

Tangled up in blues ;-)

Tue, 05/31/2011 - 23:02 | 1327490 DaveyJones
DaveyJones's picture

Tangled up in red. Or maybe purple

Wed, 06/01/2011 - 06:33 | 1327856 nmewn
nmewn's picture

;-)

Well, they seem to be in the red now with everyone thinking they are royalty (purple).

Rocky (above) posts an excellent article laying out the lie that has been presented for public consumption, in fact, a political campaign was just run on it. And no, I don't make 250k.

We are going to have to stop the class warfare/entitlement/favored constituency game and look at things how they really are. 

The government is dead ass broke.

This is a function of government spending more than it takes in. Spending is the problem, not revenue. If government decides to take more from the productive to give to the unproductive it decreases the willingness of the produtive to be as productive. For them it is a pay cut.

It is no more fair to have FNM & FRE executives (two thouroughly bankrupt entities under the protection of government) making millions per year than it is to have low & some middle wage earners contributing nothing. But the first pol who stands up and says this simple truth is dead meat...low & middle would never vote to increase their own taxes.

So the looting continues at both extremes.

Tue, 05/31/2011 - 19:07 | 1326940 Yen Cross
Yen Cross's picture

 The CAN has been kicked long enough!!! GET a JOB!!!

Tue, 05/31/2011 - 19:48 | 1327046 Id fight Gandhi
Id fight Gandhi's picture

But the truth is, there is no can

Tue, 05/31/2011 - 21:10 | 1327218 downwiththebanks
downwiththebanks's picture

Nor are there jobs.  We're witnessing global capitalism choking on its own vomit.

Tue, 05/31/2011 - 22:18 | 1327367 Chuck Walla
Chuck Walla's picture

What capitalism?  The one where the government bails everyone out?

Tue, 05/31/2011 - 22:45 | 1327431 downwiththebanks
downwiththebanks's picture

Yep - that's what government is for.  That's one big reason why the world's rulers find it so damn useful.  

Tue, 05/31/2011 - 22:20 | 1327377 cxl9
cxl9's picture

You're retarded. There are plenty of jobs -- for people willing to do them. Part of the problem is that government assistance makes it relatively less attractive to work for a living. Anyway, stop waiting for the government or the private business you hate to create jobs, and go make one for yourself. It's not complicated. Find a niche, serve it, prosper. Or die in a gutter for all I care. And I agree with the sentiment that if you don't pay taxes, you shouldn't have a vote. (And, no, sales taxes on your SNAP benefits purchases does not count as paying taxes).

Tue, 05/31/2011 - 22:48 | 1327448 downwiththebanks
downwiththebanks's picture

More Banker-Gangster rhetoric:  beat on the poor to cover up for your crimes.  All you've done for 5 centuries is poison the planet and judge others by standards established by slave-trading brigands!

Good job with that - hell of a world you've created.

Perhaps I'll go build landfills:  god only knows your hideous economic system produces more than enough need for 'em.

Wed, 06/01/2011 - 07:42 | 1327901 General Decline
General Decline's picture

Capitalism?  Where?  Lemme see! Lemme see!

Tue, 05/31/2011 - 19:12 | 1326947 Rainman
Rainman's picture

How the hell do they expect to run this big hungry dog with only a $ 14.3 T credit line ??

Tue, 05/31/2011 - 19:30 | 1327005 Yen Cross
Yen Cross's picture

 RAINMAN! Will you deny the fact, THAT you employ people?

Tue, 05/31/2011 - 19:09 | 1326949 Conrad Murray
Conrad Murray's picture

SHOW US YOUR PIPS!

Tue, 05/31/2011 - 19:13 | 1326950 Eireann go Brach
Eireann go Brach's picture

Reminds me of a day at the zoo and watching the monkeys jumping around throwing their own shit at each other!

Tue, 05/31/2011 - 19:24 | 1326993 Rodent Freikorps
Rodent Freikorps's picture

Since the Irish seem to have a genetic disposition to shoot themselves in the head, who gives a fuck what you think?

Tue, 05/31/2011 - 21:09 | 1327232 Eally Ucked
Eally Ucked's picture

Take a look The Ass Sniffer is at his work again.

Tue, 05/31/2011 - 19:36 | 1327018 Yen Cross
Yen Cross's picture

Potatoes for Dinner as usual? How about those Irish bond spreads?

Tue, 05/31/2011 - 21:08 | 1327230 downwiththebanks
downwiththebanks's picture

What a perfect description!  When you go after the Banker-Gangsters, the NaziRat gets all uppity.

Tue, 05/31/2011 - 23:11 | 1327501 DaveyJones
DaveyJones's picture

Don't insult our cousins

Tue, 05/31/2011 - 19:24 | 1326955 ebworthen
ebworthen's picture

 

The Repubs and Dems will take the grand stage again to posture and vent their soliloquoys.

There will be invokations of vets, seniors, blind immigrant refuges, left handed dyslexic watch wearers without left arms and of course - the children.

There will be serious back room discussions about posture rotation - in and out of austerity versus entitlements - so the voters will be so confused by election time they won't be able to remember who to vote for (or against). 

After an exhausting night of equivocation and sophistry it will be titties and beer time at the Captiol Club (or male pages "buffing desks" for the ladies).

 

Tue, 05/31/2011 - 22:02 | 1327332 tom a taxpayer
tom a taxpayer's picture

Hilarious! Thanks for the high-level commentary/satire.

Wed, 06/01/2011 - 07:37 | 1327883 ebworthen
ebworthen's picture

Thank you, and you're welcome :-)

Tue, 05/31/2011 - 19:13 | 1326958 mfoste1
mfoste1's picture

look at the dollar get hammered!

Tue, 05/31/2011 - 19:13 | 1326959 LRC Fan
LRC Fan's picture

Yeah the dxy just fell off a cliff

Tue, 05/31/2011 - 19:18 | 1326975 mfoste1
mfoste1's picture

im thinking of shorting $ tokyo open, geeze i havent said that in a while

Tue, 05/31/2011 - 19:35 | 1327012 Yen Cross
Yen Cross's picture

 Junior learn to read a chart. The DXY is bouncing!

Tue, 05/31/2011 - 19:19 | 1326964 Cheesy Bastard
Tue, 05/31/2011 - 19:17 | 1326974 alien-IQ
alien-IQ's picture

"a question voters should ask themselves next time they vote for their representatives"

LOL!!!!!!! the illusionary assumption that your vote counts!!! Priceless!

Tue, 05/31/2011 - 19:33 | 1327006 Burticus
Burticus's picture

What, you gotta problem with electronic votes "counted" in secret by computers run by the ruling parasite class and their minion enforcers and public serpents bent on preserving power?!  Conspiracy theorist!

Tue, 05/31/2011 - 19:34 | 1327020 Yen Cross
Yen Cross's picture

+1) sarc off

Tue, 05/31/2011 - 19:21 | 1326986 f16hoser
f16hoser's picture

Quick,ask them how much Gold we actually have here in the new Police State (USA). We're all curious.......

Tue, 05/31/2011 - 19:43 | 1327016 DavidPierre
DavidPierre's picture

This article made the rounds this morning. It seems so way out there, yet it was also sent  by a very conservative European gold executive, who doesn’t circulate sensational news like this. His comment was "interesting" …

...........................................................

Russia Says IMF Chief Jailed For Discovering All US Gold Is Gone

EU Times

on May 31st, 2011

A new report prepared for Prime Minister Putin by the Federal Security Service (FSB) says that former International Monetary Fund (IMF) Chief Dominique Strauss-Kahn was charged and jailed in the US for sex crimes on May 14th after his discovery that all of the gold held in the United States Bullion Depository located at Fort Knox was ‘missing and/or unaccounted’ for.

According to this FSB secret report, Strauss-Kahn had become "increasingly concerned" earlier this month after the United States began "stalling" its pledged delivery to the IMF of 191.3 tons of gold agreed to under the Second Amendment of the Articles of Agreement signed by the Executive Board in April 1978 that were to be sold to fund what are called Special Drawing Rights (SDRs) as an alternative to what are called reserve currencies.

This FSB report further states that upon Strauss-Kahn raising his concerns with American government officials close to President Obama he was ‘contacted’ by ‘rogue elements’ within the Central Intelligence Agency (CIA) who provided him ‘firm evidence’ that all of the gold reported to be held by the US ‘was gone’.

Upon Strauss-Kahn receiving the CIA evidence, this report continues, he made immediate arrangements to leave the US for Paris, but when contacted by agents working for France’s General Directorate for External Security (DGSE) that American authorities were seeking his capture he fled to New York City’s JFK airport following these agents directive not to take his cell-phone because US police could track his exact location.

Once Strauss-Kahn was safely boarded on an Air France flight to Paris, however, this FSB report says he made a ‘fatal mistake’ by calling the hotel from a phone on the plane and asking them to forwarded the cell-phone he had been told to leave behind to his French residence, after which US agents were able to track and apprehend him.

Within the past fortnight, this report continues, Strauss-Kahn reached out to his close friend and top Egyptian banker Mahmoud Abdel Salam Omar to retrieve from the US the evidence given to him by the CIA. Omar, however, and exactly like Strauss-Kahn before him, was charged yesterday by the US with a sex crime against a luxury hotel maid, a charge the FSB labels as ‘beyond belief’ due to Omar being 74-years-old and a devout Muslim.

In an astounding move puzzling many in Moscow, Putin after reading this secret FSB report today ordered posted to the Kremlin’s official website a defense of Strauss-Khan becoming the first world leader to state that the former IMF chief was a victim of a US conspiracy 

 Putin further stated, "It’s hard for me to evaluate the hidden political motives but I cannot believe that it looks the way it was initially introduced. It doesn’t sit right in my head."

Interesting to note about all of these events is that one of the United States top Congressman, and 2012 Presidential candidate, Ron Paul [photo bottom left] has long stated his belief that the US government has lied about its gold reserves held at Fort Knox. So concerned had Congressman Paul become about the US government and the Federal Reserve hiding the truth about American gold reserves he put forward a bill in late 2010 to force an audit of them, but which was subsequently defeated by Obama regime forces.

When directly asked by reporters if he believed there was no gold in Fort Knox or the Federal Reserve, Congressman Paul gave the incredible reply, "I think it is a possibility".

Also interesting to note is that barely 3 days after the arrest of Strauss-Kahn, Congressman Paul made a new call for the US to sell its gold reserves by stating, "Given the high price it is now, and the tremendous debt problem we now have, by all means, sell at the peak".

Bizarre reports emanating from the US for years, however, suggest there is no gold to sell, and as we can read as posted in 2009 on the ViewZone.Com news site:

"In October of 2009 the Chinese received a shipment of gold bars. Gold is regularly exchanges between countries to pay debts and to settle the so-called balance of trade. Most gold is exchanged and stored in vaults under the supervision of a special organization based in London, the London Bullion Market Association (or LBMA). When the shipment was received, the Chinese government asked that special tests be performed to guarantee the purity and weight of the gold bars. In this test, four small holed are drilled into the gold bars and the metal is then analyzed.

Officials were shocked to learn that the bars were fake. They contained cores of tungsten with only a outer coating of real gold. What’s more, these gold bars, containing serial numbers for tracking, originated in the US and had been stored in Fort Knox for years. There were reportedly between 5,600 to 5,700 bars, weighing 400 oz. each, in the shipment!"

To the final fate of Strauss-Kahn it is not in our knowing, but new reports coming from the United States show his determination not to go down without a fight as he has hired what is described as a ‘crack team’ of former CIA spies, private investigators and media advisers to defend him.

To the practical effects on the global economy should it be proved that the US, indeed, has been lying about its gold reserves, Russia’s Central Bank yesterday ordered the interest rate raised from 0.25 to 3.5 percent and Putin ordered the export ban on wheat and grain crops lifted by July 1st in a move designed to fill the Motherlands coffers with money that normally would have flowed to the US.

The American peoples ability to know the truth of these things, and as always, has been shouted out by their propaganda media organs leaving them in danger of not being prepared for the horrific economic collapse of their nation now believed will much sooner than later.

Tue, 05/31/2011 - 20:10 | 1327098 zaknick
zaknick's picture

AmeriKKKa, AmeriKKKa the banksters shat on thee!

LMAO !!!

It's true; your hidden-in-plain-sight "government" took "their" (according to them) gold a long time ago. They also stole the Lily gold from post-WW2 Germany and Yamashita's gold in the Phillipines. They "laundered" (made LBMA good delivery ready) through "Barrick Gold" a Rothschild/Mossad/Meyer Lansky/Bronfman gang fascist front and now a company with real mines.

Ye have no gold AmeriKKKlansmen!

Ye be truly phooked! No FRN, no oil and the Pigmen living it up in their newly bought Greek isles!

Your American Dream funded their Empire, fools!

Tue, 05/31/2011 - 20:38 | 1327167 Dr Zaius
Dr Zaius's picture

Hmmm, didn't the UK sell off about 50% of their gold reserves in the '90s?

Could the US have been twice as dumb?

Tue, 05/31/2011 - 21:21 | 1327245 Dr. No
Dr. No's picture

I encourage governments sell their gold holdings, including the USA. Governments own the gold to keep it out of the hands of citizens so as there is no choice but to use the fiat. Sell the gold!

Tue, 05/31/2011 - 20:52 | 1327194 nmewn
nmewn's picture

I'd take anything Putin says with a boulder of salt...the weight is probably there, but at 10-14ct.

Wed, 06/01/2011 - 00:13 | 1327602 DaveyJones
DaveyJones's picture

As usual good point. It gets so complicated when liars talk about liars

Wed, 06/01/2011 - 18:13 | 1330551 nmewn
Tue, 05/31/2011 - 22:36 | 1327416 ColonelCooper
ColonelCooper's picture

When Paul was agreeing with the idea of selling off gold, you KNEW he was just stirring the can of worms. 

Tue, 05/31/2011 - 20:27 | 1327051 Greenhead
Greenhead's picture

We don't have any.  It was all sold to the FED a long time ago.

http://www.lewrockwell.com/north/north888.html

Tue, 05/31/2011 - 19:25 | 1326988 mynhair
mynhair's picture

Wiener should keep his tweets to himself.

Tue, 05/31/2011 - 19:39 | 1327028 Yen Cross
Yen Cross's picture

 Not every one is as smart as you. Thanks for the enlightenment!!

Tue, 05/31/2011 - 19:22 | 1326989 ParaZite
ParaZite's picture

Debt ceiling will be raised by the planned crash coming in July. Money.Cnn.com had an article up last week telling the elites next move... http://money.cnn.com/2011/05/26/news/economy/orszag_debt_ceiling/index.htm

Orszag predicted that, perhaps as early as July, financial markets will start to seriously worry about the United States' ability to pay its debts. He predicted the cost of making loans would jump between a quarter to half percentage point before congressional leaders get serious and reach a deal.

Then you have the 5 dollar gas projection in July. It seems to me shit is going to hit the fan in July... No one wants to be known as the guy who put the hole in the boat, but every one of these assholes will pretend they are saving us from financial collapse when they pass QE3 in Mid July. 

Just my humble opinion... but I see new signs of this planned crash / intervention in the news every day. 

Tue, 05/31/2011 - 19:59 | 1327064 kito
kito's picture

very doubtful anyone will worry about the u.s. paying their debts. show me the bond market even beginning to itch and maybe we can consider it.

Tue, 05/31/2011 - 19:23 | 1326991 Burticus
Burticus's picture

Quit watching reruns of the Elephant 'n Jackass puppet show.

Fire the ruling party, no D, no R, no prisoners, no exceptions, fire 'em all!

Tue, 05/31/2011 - 19:26 | 1326998 ParaZite
ParaZite's picture

Fire them? LOL

I'd prefer a good ole fashioned public execution for treason by hanging or disembowelment myself. We could do it pay per view and put that money towards the debt!

Tue, 05/31/2011 - 19:40 | 1327027 Yen Cross
Yen Cross's picture

 Your posts keep getting better and better!

Wed, 06/01/2011 - 07:40 | 1327898 Ace Ventura
Ace Ventura's picture

Wait a second, not so fast. Before we hang-em, they need to run through one of those 'Wipeout' or 'Ninja Warrior' obstacle courses....multiple times, with each stage progressively more challenging.

Bawney Fwank and crew wiping out repeatedly and plunging into a pit of muck. Comedy gold.

As for the hanging, how about we put these vermin into general population at max-security prisons for a few years before we stretch-em?

Tue, 05/31/2011 - 19:32 | 1327003 swissinv
Tue, 05/31/2011 - 19:36 | 1327024 Yen Cross
Yen Cross's picture

 I caught the Egyptian EX-dignitary. sorry for the spelling. Who cares?

Tue, 05/31/2011 - 19:43 | 1327036 High Plains Drifter
High Plains Drifter's picture

here comes someone yelling at them...........you guys need to pass this or there is going to be riots in the streets........

Tue, 05/31/2011 - 19:48 | 1327041 camoes
camoes's picture

Kabuki theater bitchez

Tue, 05/31/2011 - 19:51 | 1327045 Racer
Racer's picture

Does not pass go... market goes up

Does pass go.........market goes up

Tue, 05/31/2011 - 19:48 | 1327048 zaknick
zaknick's picture

Yes!!! Yes!!! Cut those useless eaters off! Who the he'll do they think they are to demand funny money printing for food stamps etc and endanger our KKK Empire? Oh my, look at all those nigger babies!! Heil Hitler! No!! Kill the useless eaters! They will not help in #WINNING the future!

Uphold that Potemkin Village for those 10% "connected" to the "Fed". Push, slaves, push!!

Tue, 05/31/2011 - 19:54 | 1327053 buzzsaw99
buzzsaw99's picture

kabuki

Tue, 05/31/2011 - 20:47 | 1327185 nmewn
nmewn's picture

theater.

Tue, 05/31/2011 - 19:58 | 1327061 Reese Bobby
Reese Bobby's picture

Maxine Waters probably has this whole deficit problem figured out...

Tue, 05/31/2011 - 21:08 | 1327223 downwiththebanks
downwiththebanks's picture

She certainly understands the world better than Ron "John Birch Society" Paul.

Tue, 05/31/2011 - 21:38 | 1327282 topcallingtroll
topcallingtroll's picture

He was being sarcastic, dear.

Tue, 05/31/2011 - 22:41 | 1327424 ColonelCooper
ColonelCooper's picture

I junked you. Not for hacking on Paul, but for admiring Waters.

Tue, 05/31/2011 - 22:54 | 1327455 downwiththebanks
downwiththebanks's picture

My support for her is conditional.

She did good work when Uncle Sam decided to kidnap Haiti's president a few years ago, and she raised hell when the story broke in the 1980s about Uncle Sam making BANK shipping crack into the ghettos.

That said, she's still owned.

Wed, 06/01/2011 - 02:16 | 1327707 BlackholeDivestment
BlackholeDivestment's picture

http://www.youtube.com/watch?v=3sKpzmojjfU

...naaa, she fits right in with that portion of blindness brought about through ''what Black People went through in America'', combined with the strong delusion of socialism. That blindness well represents the 95% Black Vote, if I recall, Hussein of Babylon got. It is a pathetic revelation but, in her case, that stupidity and ignorance saved her from suffering ''Sudden Suicide Syndrom'' or an ''accident''. If she really followed through and pulled her head out of her ''ASS'', she would not be a Freddy Mac Daddy etc... sellout in-line with that liar Barney http://www.youtube.com/watch?v=TBHrQVdNKZU ''Frankly My Dear, I Don't Give A Damn'' but, she might well have ended up like Commerce Secretary Ron Brown. ( go to 01:18) http://www.youtube.com/watch?v=8HYStaILsUw&feature=related

Tue, 05/31/2011 - 19:58 | 1327069 mynhair
mynhair's picture

It's hard to outlive your pet.

It's a shame to outlive your children.

It's a tragedy to outlive your country.

Tue, 05/31/2011 - 20:01 | 1327075 monopoly
monopoly's picture

I think I am going to be sick. Anyone see any grown ups in the picture yet?

Tue, 05/31/2011 - 20:05 | 1327077 Quinvarius
Quinvarius's picture

I bet they think the dollar will rise on news that we won't be servicing our debt instead of crater.  Ponzi 101:  Don't pull the plug.

Tue, 05/31/2011 - 20:11 | 1327092 NERVEAGENTVX
NERVEAGENTVX's picture

Why would they worry about racking up national debt when they know that it will be paid back in seriously devalued FRN's. Leaving jane/joe sixpack holding the bag of course.

Tue, 05/31/2011 - 20:14 | 1327108 Conchy Joe
Conchy Joe's picture

Wow - did they even go to this much effort to try to act like they were creating a budget for the past 3 years?

As least they went through the motions - not creating a budget is failing to do your job at all. Should all be fired without retirement pay.

Tue, 05/31/2011 - 20:15 | 1327110 RobotTrader
RobotTrader's picture

Wow, 1300 on ES futures now a distant dream, probably won't see that number again for several months, maybe even the rest of the year.

Tue, 05/31/2011 - 20:28 | 1327142 bob_dabolina
bob_dabolina's picture

That's good as the higher the ES goes the higher the unemployment rate rises. 

Tue, 05/31/2011 - 21:55 | 1327314 mfoste1
mfoste1's picture

+1

Tue, 05/31/2011 - 20:32 | 1327144 The Axe
The Axe's picture

I take the other side of that trade for a beer.

Tue, 05/31/2011 - 20:26 | 1327135 Segestan
Segestan's picture

 The -team- of government has now dissolved into every man, every women for themselves,  in small pockets of organization, all vying for position , survival . No one wants to take the blame, they know blame will be capitalized to the fullest by the oppostion. We will face a crisis, and the cries of the people will give them the unity they need, .

Tue, 05/31/2011 - 20:40 | 1327170 trillion_dollar...
trillion_dollar_deficit's picture

Werent we supposed to be plunged into a sucking vortex of black holes if the debt ceiling wasnt raised? its still sunny where Im at.

Tue, 05/31/2011 - 20:48 | 1327187 brianbbad
brianbbad's picture

You know a situation is effed up when Tyler resorts to describing Congress's actions as "doing this bullshit." (Normally his poetic prowess is more acute than that.)

Tue, 05/31/2011 - 20:56 | 1327204 Yes_Questions
Yes_Questions's picture

Its a description of the smell of American "democracy" inaction.

Wed, 06/01/2011 - 00:32 | 1327635 DaveyJones
DaveyJones's picture

Pissed poets rarely rhyme when they see the bullshit every time

Wed, 06/01/2011 - 00:59 | 1327664 RockyRacoon
RockyRacoon's picture

It was a rare moment that I have taken the time to savor.

Tue, 05/31/2011 - 20:54 | 1327189 Fix It Again Timmy
Fix It Again Timmy's picture

Yeah, this is going to turn out just perfect - just like invading Russia in the wintertime - piece of cake...

Tue, 05/31/2011 - 20:55 | 1327200 Yes_Questions
Yes_Questions's picture

Piece of pie.

Meat pie.

Re-heated in the microwave.

Tue, 05/31/2011 - 20:55 | 1327192 Hulk
Hulk's picture

60 comments, 61 new comments. Hmm...

Tue, 05/31/2011 - 20:58 | 1327202 Dr. No
Dr. No's picture

Many of those no votes are from spineless cowards who, knowing it would not pass, voted no to gain political leverage. Which means the bill will pass after a couple of concessions and grandstanding. The give away? 60 no votes from deems.

Tue, 05/31/2011 - 21:16 | 1327244 mynhair
mynhair's picture

Left, right doesn't matter.

Get over your own damn selves.

Wed, 06/01/2011 - 01:01 | 1327665 RockyRacoon
RockyRacoon's picture

Well now.  That's refreshing coming from the "lib" hater.  Congratulations.

Tue, 05/31/2011 - 21:20 | 1327248 M.B. Drapier
M.B. Drapier's picture

Does not pass; does not collect $2.4 trillion. Try the veal!

Tue, 05/31/2011 - 21:35 | 1327273 topcallingtroll
topcallingtroll's picture

Tea Party.

I have faith in you.
You arent there to be career politicians.
Force a default and end big government forever.

Tue, 05/31/2011 - 21:40 | 1327277 downwiththebanks
downwiththebanks's picture

Signed "Koch Industries" (who never use government largesse)

Tue, 05/31/2011 - 21:46 | 1327292 topcallingtroll
topcallingtroll's picture

I am against all welfare and so is the tea party. They knocked off almost every republican running in the primary who voted for bank bailouts.

Several republicans " retired" rather than face a tea party candidate.

You should be pleased with the core tea party philosophy, individual liberty, personal responsibility.

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