• Steve H. Hanke
    05/04/2016 - 08:00
    Authored by Steve H. Hanke of The Johns Hopkins University. Follow him on Twitter @Steve_Hanke. A few weeks ago, the Monetary Authority of Singapore (MAS) sprang a surprise. It announced that a...

Today's Economic Data Docket - New Home Sales, $35 Billion In 2 Year Bonds To Be Issued Despite Breached Debt Ceiling

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Tue, 05/24/2011 - 08:08 | 1304504 I am a Man I am...
I am a Man I am Forty's picture

debt ceiling schmebt ceiling

Tue, 05/24/2011 - 08:38 | 1304562 bonddude
bonddude's picture

If you never intended on paying it back is it really debt?

So when some crooks who bust out 15 banks including IndyMac with the help of lavishly paid

banksters, like the ones at Sonoma Valley Bank, who's gonna notice? They just TBTF 'em or

take 'em over and fuck 1300 local shareholders who only became such to get "free" checking.

Well, this story is slowly getting its wings and Sunday the Santa Rosa Press Democrat will

land another blow.


Tue, 05/24/2011 - 09:18 | 1304682 Urban Roman
Urban Roman's picture

Too many "air quotes".

Tue, 05/24/2011 - 09:20 | 1304685 Weisbrot
Weisbrot's picture

when priorities are mal aligned you cant get a good result let alone a desired one




that assumes ones intentions are actually for the good of the masses and not just the asses






Tue, 05/24/2011 - 08:12 | 1304505 the not so migh...
the not so mighty maximiza's picture

Debt Ceiling is just a technicality, for now.

Tue, 05/24/2011 - 08:14 | 1304510 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

It's Brian NutSack. When referencing these scum can we please use the correct terminology, is it too much to ask!?

And i sh*t you not, my CAPTCHA question was just:

18 times (-37)

No such thing as coincidences!

Tue, 05/24/2011 - 08:20 | 1304515 KlausK
KlausK's picture


Beware of the evil nutsack!

Tue, 05/24/2011 - 08:40 | 1304558 The Profit Prophet
The Profit Prophet's picture

Correction....Brian NutSackLicker.

T.E.I.N. everyone!

Tue, 05/24/2011 - 08:18 | 1304512 lizzy36
lizzy36's picture

Debt target exceeded....goldman upgrade to conviction buy.

Hahahahah.....they are still building new home sales.

Tue, 05/24/2011 - 08:34 | 1304544 coppertop
coppertop's picture

Hello old friend

Tue, 05/24/2011 - 08:15 | 1304514 writingsonthewall
writingsonthewall's picture

The only way is up.

Tue, 05/24/2011 - 08:21 | 1304523 the not so migh...
the not so mighty maximiza's picture

Tim is issuing debt that was not voted for by the Congress.  He is plundering pensions and doing spreadsheet gimmicks.  He is breaking the law and Sack is an accomplice.  We need an army of constitutional lawyers to rip some new assholes.  Tim does not have power of the purse.  

Tue, 05/24/2011 - 08:37 | 1304561 Translational Lift
Translational Lift's picture

Laws....What Laws??  Laws are only for fkn sheep!!

Tue, 05/24/2011 - 09:17 | 1304663 LawsofPhysics
LawsofPhysics's picture

Exactly, what laws?  My father was one of the attorneys that prosecuted bank leadership during the savings and loan crisis.  I remember the death threats he got.  He was a vietnam vet (100% disabled) that decided in the early 70's that the only way to affect change was to act and since he had been almost killed during his service, the government funded his law school education (rightfully so, we call this the "hard luck lottery"). Men with this kind of metal don't exist anymore (perhaps they have all been bought along with the politicians?).

Tue, 05/24/2011 - 12:17 | 1305426 catch edge ghost
catch edge ghost's picture


carry on.

Tue, 05/24/2011 - 13:04 | 1305644 Boxed Merlot
Boxed Merlot's picture

He was a vietnam vet (100% disabled)...Men with this kind of metal don't exist anymore (perhaps they have all been bought along with the politicians?).

Could be medal as well.

Our politicians don't understand the proper use of metal as in PMs, or Timmy would be punching out proper coinage redeemable in non interest bearing US notes instead of the new currency he's found access to. He should stay on the reservation as use what tools he's authorized to use, namely the mints and department of engraving.

If repayment of debt in frn denominated fiat is the legal requirement, then so be it, let it float in the market with US legal tender so it will find it's just value - nil.

Tue, 05/24/2011 - 08:24 | 1304528 Robslob
Robslob's picture

Constitutional Lawyers...funny

Tue, 05/24/2011 - 08:27 | 1304532 the not so migh...
the not so mighty maximiza's picture

i thought it was good for a laugh

Tue, 05/24/2011 - 08:33 | 1304551 Sean7k
Sean7k's picture

The beauty of this device, this central bank totalitarian socialism, is we no longer have to isolate hyperinflation to a single republic (Weimar), we can now enjoy the effects of currency fluctuations all over the globe. 

By deftly moving zone to zone, one can take advantage of every currency movement. Of course, you really have safety net if you are a TBTF bank, with a discount window of free credits to pay for your favorite ride.

Kind of a Bankster Disneyland, with all the global citizens watching from outside the fence. Too poor to afford the admission ticket or lacking the influence of being a government official. 

Thankfully, there is top notch security to maintain the cordon of velvet lies, bread and circuses to distract the public, violence and death for the recalcitant. 

"if you stand by the river long enough, you will see the body of your enemy floating by". I hope we have the wisdom to stand by the river and understand all that it entails.



Tue, 05/24/2011 - 21:13 | 1307441 TrueStrengthTur...
TrueStrengthTurnsTheCheek's picture

+1 probably the best short explanation/metaphor I've seen to describe our current global situation.

Tue, 05/24/2011 - 08:37 | 1304553 What_Me_Worry
What_Me_Worry's picture

There should be plenty of pension funds out there to "borrow" from.  I don't see why the US will ever have to raise the debt ceiling.

I think the only reason the US hasn't "borrowed" funds from 401k/IRAs is because WS won't let them.

Tue, 05/24/2011 - 08:55 | 1304611 spanish inquisition
spanish inquisition's picture

No need for authorization anymore, I am sure it's covered under the Patriot act or some other rights stripping bill. It's all about "national security" now.....

Tue, 05/24/2011 - 09:34 | 1304705 Spigot
Spigot's picture

So, let me get this straight, the Federal Government - which already, since RR in the 1980's, "borrows" every single dime set asside for things like SS trust funds, retirement accounts, pledging "Bonds" as they siphon off the cash to fund operations - is perportedly "dipping into retirement funds" to fund its debt ceiling breaching spending...

Are they borrowing their own bonds and selling them to the FED, or WHAT???

This is worse than the fevered, delusional dreams of a little girl named Alice...

Tue, 05/24/2011 - 11:00 | 1305008 Translational Lift
Translational Lift's picture

Nifty...Huh!!  It's like the whole Gubmnt is on crack!!

Tue, 05/24/2011 - 13:53 | 1305875 Herbert_guthrie
Herbert_guthrie's picture

The government is not on crack.
They are under direct orders.

Wed, 05/25/2011 - 00:00 | 1307876 PulauHantu29
PulauHantu29's picture

Print Baby, Print!

Wed, 05/25/2011 - 02:39 | 1308083 tony bonn
tony bonn's picture

tim geithner is a liar and tax cheat....his ostensible boss is a liar and birth certificate cheat....why would anyone expect either of the liars to obey the law? the law is for the little people....



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