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Total US Debt Now Officially Above The Ceiling

Tyler Durden's picture


A quick look at today's just released total debt to the penny from the Treasury may crimp the artificial smile of even such die hard administration sycophants as Moodys. Why: because the total debt, as we predicted when we observed last week's 30 Year auction, is now at $14,305,336,580,992.11. This is a problem because as anyone who rails against the broken US fiscal apparatus should be able to tell you, the debt ceiling is $14.294 trillion. In other words we have now officially breached the debt ceiling by $11 billion. So why has the US not filed a notice of default yet? Because the actual debt that matters for legal purposes is the debt "subject to the limit", which is $52 billion less than the total debt primarily due to $10 billion held at the Federal Financing Bank, and $41 billion in unamortized discount: a number which fluctuates in time depending on how much over or under par bonds are issued, but which ultimately will be zero at maturity of all debt (haha). In other words, as of today, the US Treasury has dry powder for just another $41 billion in issuance, or just over your average 5 Year auction. This can be seen best on the following chart from the Treasury where the total debt line has just passed the limit.

So what does this mean for near term issuance? Also per the Treasury, there is a total of $55 billion in debt paydown in the next week primarily in bill redemptions, offset by $14 billion in issuance in the last week of April. The problem is that this week also happens to be a major tax refund week. We anticipate that tax refunds will likely total between $20 -25 billion net over tax revenues. Which means there will be a net cash need of about $75 billion. As we ended Thursday at about $30 billion, Friday's cash balance (released at 4pm by the FMS) could be very critical to determine if the Treasury will be forced to come up with some emergency form of 11th hour cash raise. It also means that the debt ceiling clock is ticking ever louder. The Treasury will have capacity for one more full weekly auction, to be completed in the first week of May, and then it is game over.

Update: cash as of Friday was $58 billion. With $55 billion in cash out this week and who knows how much of refund funding, it could get mightly close...


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Mon, 04/18/2011 - 15:52 | 1181548 BrobamaReds
BrobamaReds's picture

Bob Pissani is the worst.

Mon, 04/18/2011 - 15:54 | 1181552 Debtless
Debtless's picture

Worse than Krudlow? Or Liesman? That's quite an ugly contest.

Mon, 04/18/2011 - 17:18 | 1181836 Dental Floss Tycoon
Dental Floss Tycoon's picture

Worse than Morgan Stanley defaulting on 3.3 billion loan.

"A Morgan Stanley property fund failed to make $3.3 billion in debt payments by a deadline on Friday, handing over the keys to a central Tokyo office building to Blackstone (BX.N) and other investors, the largest repayment failure of its kind inJapan."

Geiger counter readings too high?

Mon, 04/18/2011 - 18:09 | 1181960 oh_bama
oh_bama's picture
  • BTFD!!
Mon, 04/18/2011 - 18:11 | 1181971 redpill
redpill's picture

And pretty soon there will start to be an "OR ELSE" attached.

Mon, 04/18/2011 - 18:27 | 1182023 johngaltfla
johngaltfla's picture

Wait a minute. Turbo Timmy said a black hole would open up near Darlington, SC and start sucking all of the United States into it giving the land back to the Indians if we did not get this taken care of before Easter. So are people and towns vanishing in the Carolinas or was the earthquake near Bermuda just a warning shot?

Mon, 04/18/2011 - 22:56 | 1182694 hayduke33
hayduke33's picture

The hole actually opened up in the sky, and quite a bit of the eastern carolinas was sucked up thru it. People vanished, but apparently no towns. 

Mon, 04/18/2011 - 21:12 | 1182437 Xibalba
Xibalba's picture

Are YOU on the terror watchlist?

Mon, 04/18/2011 - 22:16 | 1182587 astartes09
astartes09's picture

According to the TSA, "maybe".

Tue, 04/19/2011 - 02:09 | 1183068 StychoKiller
StychoKiller's picture

We can neither confirm nor deny that "Redpill" is on any of our watch lists -- TSA, FBI, NSA, DEA, DIA, etc...(ad infinitum!) :>D

Thu, 04/21/2011 - 00:44 | 1191290 MontgomeryScott
MontgomeryScott's picture

I caught this story a couple of days ago, about 'Chase Manhattan' evacuationg Tokyo, and defaulting on their leases.

Seems that one of the alternet sites I frequent had a link to this Rueters story!

Some of these evil news sites , enemies of the State ALL, even link to 'Tyler Durden', and THIS site!

The EVIL 'A.J.' has a link to Zero Hedge, and THIS STORY!


Gee whiz! You would think that the posters on 'Zero Hedge' also are frequent visitors to certain sites that discuss Sodium Floride, genetically modified foods, stratospheric geoengineering, the High Altitude Auroral Research Project, the PNAC documents, The FED conspiracy, the Georgia Guidestones, 'Project 21', The report From Iron Mountain, or the craziest of all, the 'Loose Change' blogumentaries!

As far as 'geiger counter' readings, there is this guy named Arnie Gunderson, posting on VIMEO, from the 'Fairewinds Institute', who discusses the Fukushima, Dai-ichi 'TEPCO' thing.

Here is a really OLD link, that I sent out about 9 April 2011:

Blackstone is SO 20th century!

How about CERBERUS?

Mon, 04/18/2011 - 15:58 | 1181574 Id fight Gandhi
Id fight Gandhi's picture

Money honey is. They're high fiving each other cuz it's well off the low.

Mon, 04/18/2011 - 16:03 | 1181587 SheepDog-One
SheepDog-One's picture

Whats well off the low?

Mon, 04/18/2011 - 16:20 | 1181673 Cdad
Cdad's picture


Well off the after you puke and you lift your head off of the side of the bowl....which comes right before you fall asleep with your head on the cool tile floor.

But who cares?  Brent Wilsey doesn't care.  Fucking debt ceiling violation party at Dog's house!  Woot!  Get long gnomes!


Mon, 04/18/2011 - 16:38 | 1181722 Larry Darrell
Larry Darrell's picture

"party at Dog's house!"


I was actually thinking that we should be celebrating this with a party.

Tyler, this article would feel more complete if Banzai7 put us up a pic of Turbo Timmy poppin' champagne.  Maybe we can celebrate proper when the actual debt subject to the limit hits our current target. 

We can count it down like it's done for new years.

Mon, 04/18/2011 - 16:54 | 1181769 TruthInSunshine
TruthInSunshine's picture

Guys, please do me a favor -


If I doze off, don't let me miss the revolution IF Americans ever wake up to the simple fact that they have a private bank that loans their government money, to which they have to pay interest.

99.99999999999999999% of Americans fail to understand this very basic yet totally illogical fact and crime committed against them.

I'm hoping at least 3% ultimately catch up.

Mon, 04/18/2011 - 17:00 | 1181792 redpill
redpill's picture

One of these days shit is gonna start to get a bit nuts, and a whole lot of television-fixated fast food addicts are going to have some intellectual catching up to do.

Mon, 04/18/2011 - 17:10 | 1181815 NotApplicable
NotApplicable's picture

Which they'll do by staying glued to cable-news networks.


Mon, 04/18/2011 - 20:44 | 1182357 Hephasteus
Hephasteus's picture

Informercials and infotainment.

Mon, 04/18/2011 - 17:17 | 1181834 naughtius maximus
naughtius maximus's picture

Intellectual? Nah they'll just blame the jews or the gays or whatever convenient scape goat this week. Maybe they'll blame the "liberals" whatever the hell that means.

Anyone but anyone but the TBTF banker parasites.

Mon, 04/18/2011 - 23:56 | 1182874 uraniuman
uraniuman's picture

 Liberal - those who are generous with other people's money

Tue, 04/19/2011 - 00:09 | 1182887 TruthInSunshine
TruthInSunshine's picture

"Socialism (including Bernanke-Geithner-Paulson TBTF Corporate/Financial Socialism, of the Squid-enrichening variety) is awesome for those who just want to party, until you run out of other peoples' money."

Paraphrasing Margaret Thatcher

Tue, 04/19/2011 - 00:43 | 1182942 blunderdog
blunderdog's picture

Simple definitions are much better than learning the history.  Meanings change, so just cut to the chase, right?

But if that's really supposed to serve as a definition, it has to include guys like Reagan and Dubya, right?  Yes, of course, obviously FDR and Obama and JFK and Johnson, yes yes.  But if it's really just about spending other people's money, we need to include those other guys too.

I've heard a lot of criticism of Dubya, even a bit of criticism of Reagan, but I admit I haven't heard too many folks call either of them "liberal."

(There must be a way to make the definition only apply to people you don't like...)

Tue, 04/19/2011 - 02:10 | 1183070 StychoKiller
StychoKiller's picture

Label them all "fscksticks" and be done with it!

Tue, 04/19/2011 - 00:12 | 1182891 Al Gorerhythm
Al Gorerhythm's picture

Gold and silver investors (hoarders). The word has been used to describe the UT purchase in one headline that I saw, somewhere. This trend will not be your friend.

Mon, 04/18/2011 - 23:56 | 1182833 Shocker
Shocker's picture

Oh you are so correct. People are so out of it, they don't even know what is going on. Right now we have like 10 serious problems, something has to give


Mon, 04/18/2011 - 17:14 | 1181824 d_senti
d_senti's picture

It's depressing that less than 0.00000000311 Americans understand this stuff. :)

Mon, 04/18/2011 - 20:34 | 1182331 rich_wicks
rich_wicks's picture

don't let me miss the revolution IF Americans ever wake up to the simple fact that they have a private bank that loans their government money

Don't worry, they never will.

All that happens is some jerk on television or some public official will simply say that's a lie, and dumb Americans will believe it.  It's as simple as that.

If people stop watching television and actively start believing that public officials are what they are, complete incompents mixed with total liars, then maybe the general populace will start to realize the Federal Reserve is just a private a bank with Federal as part of it's name.

Mon, 04/18/2011 - 22:56 | 1182707 toxic8
toxic8's picture

DING DING DING, you sir, are a winner

Mon, 04/18/2011 - 17:07 | 1181814 High Plains Drifter
High Plains Drifter's picture

.like after you puke and you lift your head off of the side of the bowl....which comes right before you fall asleep with your head on the cool tile floor.

sounds like a straight tequila night.......oh boy those hurt real bad......

Mon, 04/18/2011 - 16:07 | 1181618 fbrothers
fbrothers's picture

Without a doubt. He is actually goofy. His only talent is for working on infomercial channels.

Mon, 04/18/2011 - 18:09 | 1181959 jus_lite_reading
jus_lite_reading's picture

The man's name is LIESMAN.

A billion here.... a billion there. Whos counting?

Mon, 04/18/2011 - 20:41 | 1182345 Buck Johnson
Buck Johnson's picture

Pisani is a yes man, he was pushed from the anchor desk to the floor and has been trying to keep his job.  Yes boss everythings okay boss, he knows which sides his bread is buttered on.

Mon, 04/18/2011 - 16:00 | 1181557 HamyWanger
HamyWanger's picture

Debt used to matter, but it was a long time ago.

Now is the time of hope, change and transcendance. Nothing matters anymore. Everything is beautiful, good and tasty. 

Nerdy libertarians should embrace life instead of always bitching about debt, deficits, inflation, silver manipulation, work, blah blah blah. Light some weed and get some fun. 

Mon, 04/18/2011 - 16:02 | 1181588 Cocomaan
Cocomaan's picture

This is one nerdy libertarian who enjoys his greens. Lighting up makes me want to buy PMs.

Mon, 04/18/2011 - 16:08 | 1181611 lemonobrien
lemonobrien's picture

funniest thing I read today. I live in san fran, libertarian, love the green, love the gold, love the silver.

Mon, 04/18/2011 - 17:09 | 1181811 Teamtc321
Teamtc321's picture

Hope, Hope and Change!!! Yes we can!!!

Mon, 04/18/2011 - 16:14 | 1181635 Spastica Rex
Spastica Rex's picture

Do you not even try to sound like Harry anymore? Shame.

Mon, 04/18/2011 - 16:15 | 1181648 redpill
redpill's picture

I haven't seen Harry in awhile, does he still come around?  If not, well then Hamy just might as well go balls to the wall.  It is kind of funny seeing folks responding to him that aren't aware of the schtick.

Mon, 04/18/2011 - 16:22 | 1181666 Spastica Rex
Spastica Rex's picture

It's been a long time since I've seen him, too. The ersatz Harry parody was more entertaining when there was a Harry. But oh well: what the hell.

Mon, 04/18/2011 - 17:10 | 1181808 HarryWanqer
HarryWanqer's picture

It's less entertaining because everyone has finally surrendered and joined the equity bull ride.

Mon, 04/18/2011 - 23:50 | 1182859 Calmyourself
Calmyourself's picture

Oh, not quite everyone, are you entertained?

Mon, 04/18/2011 - 16:22 | 1181669 Irwin Fletcher
Irwin Fletcher's picture

Seems like he promised to stop posting at gold $1450, and actually stopped around $1400. Maybe I'm thinking of someone else.

Mon, 04/18/2011 - 16:23 | 1181683 redpill
redpill's picture

haha now I have this stuck in my head:

Mon, 04/18/2011 - 16:35 | 1181713 aheady
aheady's picture

Yeah well thanks for getting this stuck in my head:

Mon, 04/18/2011 - 17:05 | 1181806 whatsinaname
whatsinaname's picture

And Hamy is stuck to his Potty along with his buddies Harry & Botty.

Mon, 04/18/2011 - 15:57 | 1181558 Racer
Racer's picture

When a limit is skirted with so closely you know the person/country is broke and can't pay

Mon, 04/18/2011 - 16:08 | 1181612 Dr. Richard Head
Dr. Richard Head's picture

When I hit this point in my unsecured debt, I had to restructure.  Strategic default is the new black bitchez!

Mon, 04/18/2011 - 15:58 | 1181560 Robslob
Robslob's picture

US Debt Clock says 14.236 Trillion

Mon, 04/18/2011 - 16:14 | 1181634 LMAO
LMAO's picture

They prolly threw some Daylight Saving Time into the mix, shaving off a couple of billions.

It's all about creative accounting these days.


Mon, 04/18/2011 - 16:23 | 1181675 tickhound
tickhound's picture

green shoot

Mon, 04/18/2011 - 16:31 | 1181698 DoChenRollingBearing
DoChenRollingBearing's picture

Agreed.  Definitely bullish.

For gold!

Mon, 04/18/2011 - 17:19 | 1181837 Dr. Porkchop
Dr. Porkchop's picture

bull shoot!

Mon, 04/18/2011 - 15:57 | 1181562 redpill
redpill's picture

If there is one thing I have faith in, it's their ability to fudge the numbers as long as necessary to make this "not a problem."

Although it would be refreshing to see this issue just be dealt with suddenly and immediately with a big Fukushima-sized default bomb dropped onto the Keynesian ponzi fatcake and explode it all over the solar system with gooey bits of Krugman entrails sticking to the rings of Saturn.

Mon, 04/18/2011 - 16:05 | 1181607 Misean
Misean's picture


Nicely put.

Mon, 04/18/2011 - 16:52 | 1181768 JFK.4PREZ
JFK.4PREZ's picture

+1.   I was hoping for a public stoning of krugman.   but instead of stones - spears and throwing stars created out of our credit cards.  

Mon, 04/18/2011 - 15:59 | 1181564 NewThor
NewThor's picture

Nuclear Sky is the limit, bitchez!

Mon, 04/18/2011 - 16:00 | 1181565 mynhair
mynhair's picture

Party!  Crack 'em if you got 'em!  This is a historic event, and sends chills running up my leg.

Mon, 04/18/2011 - 15:59 | 1181567 treemagnet
treemagnet's picture

The only thing that matters is the cost of that debt and until "they" (relatives of "them") demand more reward for the risk, this shit just don't matter.  But when they finally do....

Mon, 04/18/2011 - 15:58 | 1181572 NotApplicable
NotApplicable's picture

I expect to see a lot more debt no longer subject to the limit.

And I expect they will balk on paying out tax refunds, as to really shake up the herd in order to create a "mandate" for change.

Mon, 04/18/2011 - 16:07 | 1181621 chet
chet's picture

It's an interesting idea.  Pretend that refunds are in jeopardy in order to rush the GOP into raising the debt ceiling without a fuss.

Mon, 04/18/2011 - 16:41 | 1181727 Larry Darrell
Larry Darrell's picture

The GOP has no desire to not raise the debt ceiling.  They just posture for their half of the sheeple.

Mon, 04/18/2011 - 16:54 | 1181776 Dr. No
Dr. No's picture

You are on to something.  They could start to offer different tiered debt.  Each with its own rating.  AAA, will be paid back no matter what.  BBB Most likely paid back.  CCC, not likely to be paid back but will try, DDDD will only be paid back if we can balance the budget.

Mon, 04/18/2011 - 15:59 | 1181573 Cognitive Dissonance
Cognitive Dissonance's picture

<updated for 2011>

A hundred Billion here, a hundred Billion there and before you know it you're talking real money.

Mon, 04/18/2011 - 15:59 | 1181576 gangland
gangland's picture

Rick Masters, old school.



Mon, 04/18/2011 - 16:43 | 1181739 doggings
doggings's picture

this was written just when the limit was last raised

Billions are so 2009, its all about Trillions now

how quickly time passes when your having fun BTFD. 

Mon, 04/18/2011 - 16:01 | 1181579 RobotTrader
RobotTrader's picture

Stock investors are now jubilant.

They brought the indexes back from the crash zone.

Maniacal buying of AAPL, NFLX, etc. into the bell.

However, the most ebullient investors celebrating the debt ceiling breach were LULU investors.

New world record lifetime highs.


Mon, 04/18/2011 - 16:07 | 1181589 HamyWanger
HamyWanger's picture

Robot, dude, I made a killing last week on some stocks you recommended me. 

Still high on retail, NFLX and of course LULU. 

Lunatic goldbugs want to kill me out of jealousy. 

Mon, 04/18/2011 - 16:17 | 1181647 Robot Traders Mom
Robot Traders Mom's picture

Lunatic goldbugs think you are fucking tool, just like your parents do.

Mon, 04/18/2011 - 16:22 | 1181670 taraxias
taraxias's picture

It helps to know his father married his first cousin.

Mon, 04/18/2011 - 16:33 | 1181701 tmosley
tmosley's picture

He married her after his father died, and gave birth to Spalding.

Mon, 04/18/2011 - 21:58 | 1182552 Cui Bono
Cui Bono's picture

Sooooo, you're saying he's a Rothschild?
hmmmm, that makes a lot of sense come to think of it....

Mon, 04/18/2011 - 16:21 | 1181674 SheepDog-One
SheepDog-One's picture

Robo polishes his porpoise while gloating over other peoples stocks, his stock JOM is down 10%, and 'lunatic gold bugs' are up 100% while the real stock market buying power adjusted is stuck in 1990's. 

But mom, your son says hes saving 1 months worth of his food budget $10 a day to buy 1 share of Apple. Its all good.

Mon, 04/18/2011 - 16:16 | 1181652 Arius
Arius's picture

same here...bought low sold so simple...

Mon, 04/18/2011 - 16:05 | 1181594 SheepDog-One
SheepDog-One's picture

Well you should buy 1 share of Apple then Robo, but watch out! That 1 share purchase would = your entire month of $10 daily food budget.

Mon, 04/18/2011 - 16:04 | 1181599 lieutenantjohnchard
lieutenantjohnchard's picture

you still lost money today so keep posting to avoid looking at the old P/L. jpm, hd, mo and vz all down.

btw: can you eat relative performance?

Mon, 04/18/2011 - 16:22 | 1181665 Ransom
Ransom's picture

nom nom nom

Mon, 04/18/2011 - 16:13 | 1181640 Spastica Rex
Spastica Rex's picture

Charts, or STFU.



Mon, 04/18/2011 - 16:15 | 1181651 SheepDog-One
SheepDog-One's picture

Well Robo cant post the chart of the only stock he owns, JPM, since its down 10% since he bought it. But hes now working on scraping together 1 months worth of his food budget for 1 share of Apple, or so he says.

Mon, 04/18/2011 - 16:22 | 1181681 Spastica Rex
Spastica Rex's picture


Mon, 04/18/2011 - 16:20 | 1181659 Hard1
Hard1's picture

But the cherry on top of the cake today is US 5yr Credit Default Swap trading marginally tighter!!!!!!. Maybe due to the market pricing the cheapest-to-deliver option of the seller of protection, now that we will see a default for a "technicallity" or maybe just too much drugs in wall street to handle reality anymore.

Mon, 04/18/2011 - 16:51 | 1181765 Infinite QE
Infinite QE's picture

Robot's back from the annual Short the Bottom, Buy the Top conference where he was a keynote speaker.

Mon, 04/18/2011 - 18:15 | 1181980 SheepDog-One
SheepDog-One's picture

*golf chortle*

Mon, 04/18/2011 - 23:10 | 1182756 TIMMAYYY
TIMMAYYY's picture


Mon, 04/18/2011 - 16:01 | 1181580 MyKillK
MyKillK's picture

We're just in time for one of those sharp jumps upwards too...


I thought they were saying the debt ceiling would be breached "as early as" May 16th? It looks like to me it's going to be earlier than that.

Mon, 04/18/2011 - 16:03 | 1181582 bob_dabolina
bob_dabolina's picture

"Like I'm going to believe you're not going to cum in my mouth"

Famous last words of Tim Geithner plagarized from Lynn Tilton.

Mon, 04/18/2011 - 16:03 | 1181595 mynhair
mynhair's picture

Who's Lynn Tilton?  And do you have her number?

Mon, 04/18/2011 - 16:08 | 1181600 bob_dabolina
bob_dabolina's picture

She's this lady that allows you to take shots off of her saddle bags.

Mon, 04/18/2011 - 16:17 | 1181656 blunderdog
blunderdog's picture

That sounds like a joke.  A woman with those teeth, it would be way too scary to cum.

Mon, 04/18/2011 - 16:02 | 1181583 James
Mon, 04/18/2011 - 16:32 | 1181700 SheepDog-One
SheepDog-One's picture

Yes! And no one will be warned one morning when it happens!

Mon, 04/18/2011 - 16:44 | 1181742 JLee2027
JLee2027's picture

There is word on the street that Secretary of the Treasury, Timothy Geithner, has approved plans for the International Monetary Fund (IMF) to absorb the Federal Reserve System with an eye to the IMF becoming a global central bank. A “basket of currencies” (which includes the Chinese renmenbi/yuan) is to be created to replace the dollar as the international currency of trade. Plans are for “the basket” to become America’s new currency.

You would need 2/3rds Senate approval and a Presidental signature to approve such a thing. While Obama may sign, the Senate would never approve it.

I'd say, go right ahead and try it w/o approval. That's one way to guarantee Obama will be out of Office before 2013.

Mon, 04/18/2011 - 16:51 | 1181761 SheepDog-One
SheepDog-One's picture

Of course the puppets in the senate would approve it! Hell they approve everything that got us to this point, in fact its already a done deal. 

Mon, 04/18/2011 - 18:19 | 1181998 NotApplicable
NotApplicable's picture

All the puppets need is this magic cloak known as political cover.

In other words, TPTB will stop propping up the facade, everything comes crashing down, causing the sheeple to cry out for relief. Since the Fed will be impotent as the "lender/borrower of last resort," the IMF will be pitched (by Maggie Thatcher's 'TINA') as the only viable solution.

Mon, 04/18/2011 - 20:10 | 1182263 Waterman Jim
Waterman Jim's picture

Only in a crashed market will the "worldo" be accepted.


Tue, 04/19/2011 - 01:05 | 1182978 Hephasteus
Hephasteus's picture

Funny thing though. BRICKs anouncement yesterday either strangely and unrevealingly supports this statement or directly refutes it. Depending on just how full of shit it is.

Tue, 04/19/2011 - 00:54 | 1182961 Al Gorerhythm
Al Gorerhythm's picture

Wasn't a revolution fought over this?


Mon, 04/18/2011 - 16:01 | 1181585 Joe Davola
Joe Davola's picture

I sent in my 1st quarter estimated, that's gotta offset a microsecond's worth of spending.

Mon, 04/18/2011 - 18:36 | 1182050 Withdrawn Sanction
Withdrawn Sanction's picture

Sorry, but your ES pmt was spent in 1991.  Thanks for the advance though.

Mon, 04/18/2011 - 16:04 | 1181590 Dejean Splicer
Dejean Splicer's picture

"So what does this mean for near term issuance?"


We need a few good congress members to plea for relief from the god awful ceiling that is destroying the great American Recovery.

Then we need the members of the protagonist troupe to throw their hands in the air, bang their fists on the table, and shout at the top of their lungs "There will be no raising the debt ceiling".

Late one Friday night the ceiling will be lifted.

What's your price of admission?

~D'jean Splicer

Mon, 04/18/2011 - 16:21 | 1181661 Arius
Arius's picture

"We need a few good congress members"


....i admire your optimism..good luck w/ that tough though...

Tue, 04/19/2011 - 01:30 | 1182969 Al Gorerhythm
Al Gorerhythm's picture

What's your price of admission?

Your liberty, ........... followed by your sovereignty.

Mon, 04/18/2011 - 16:04 | 1181592 TooBearish
TooBearish's picture

There is no inflation, and soon there will be no debt ceiling nor a tax base.

Mon, 04/18/2011 - 16:46 | 1181751 doggings
doggings's picture

+ several trillion

Mon, 04/18/2011 - 16:05 | 1181593 RobotTrader
RobotTrader's picture

I told you guys that the debt ceiling did not matter.

Look at the 475% bid/cover ratio on the T-Bills today, and panic buying of U.S. Treasuries across the curve.

Even the lousy Muni-bonds were up today.

Mon, 04/18/2011 - 16:12 | 1181604 SheepDog-One
SheepDog-One's picture

Wont be tomorrow though. So anyway did you scrape together a months worth of your food budget for 1 share of Apple yet?

BTW your after hours gloating over whatever you find that went up wont detract from your own abysmal trading record...hows that JPM you bought down over 10% since?

Mon, 04/18/2011 - 16:11 | 1181625 lieutenantjohnchard
lieutenantjohnchard's picture

you also told us the middle east problem would go away - 2 months ago. you also told us the silver and gold rally was over. you also told us oil was collapsing at $90. you've told us so much that pointing out how wrong you are is not even a challenge.

keep posting. your P&L still is red.

Mon, 04/18/2011 - 16:25 | 1181689 taraxias
taraxias's picture

I don't know why you guys bother with this fucktard.

Mon, 04/18/2011 - 16:41 | 1181724 Robot Traders Mom
Robot Traders Mom's picture

Because it is funny to let him know he is just as much of a tool online as he is in person. Fucking little nerd.

Mon, 04/18/2011 - 21:38 | 1182507 Hephasteus
Hephasteus's picture

It's like those playdoh toys. The shit runs out his ass and you just keep popping it back into his mouth and turning the crank.

It's the playdough megafuck robofactory.

Mon, 04/18/2011 - 16:27 | 1181693 tickhound
tickhound's picture

naw... he's doing fine. He put up a pie-chart and some graphs that prove it.

Mon, 04/18/2011 - 16:28 | 1181697 disabledvet
disabledvet's picture

"you're gonna pay Robot Trader.  MARK MY WORDS!  YOU'RE GONNA PAY!"

Mon, 04/18/2011 - 16:03 | 1181597 Dr. No
Dr. No's picture

The real debt limit is achieved when no one buys the debt.  The $14.3T is just a hastely drawn line in the sand.  You know, so politicians can say, "Even though i dont agree with this bloated budget, Im voting for it, but will vote for a budget limit, which will limit gov spending [insert years] down the road, this way you will think i am fiscally responsible".

Mon, 04/18/2011 - 16:06 | 1181615 SheepDog-One
SheepDog-One's picture

Who is the 'you' who will be fooled, the avg american retard who couldnt describe a bond, much less ever actually buy one?

Mon, 04/18/2011 - 16:05 | 1181601 John McCloy
John McCloy's picture

Checks and Balances are overrated. Who needs them when we have a fascist corpratocracy plutocracy that knows all the answers.

Constitution meet dustbin.

Mon, 04/18/2011 - 16:51 | 1181764 JLee2027
JLee2027's picture

Don't be so pessimistic. It's not over by a long shot. Thieves can only survive as long as the money flow does. And the river is running dry...

Mon, 04/18/2011 - 21:34 | 1182497 Vendetta
Vendetta's picture

usually bad things start happening to politicians when they stop paying their military people ... oh .. and paying massive amounts to a corporation isn't the same thing as paying the military folks.

Mon, 04/18/2011 - 16:07 | 1181606 Mad Max
Mad Max's picture

I heard that the US's sovereign debt rating just got Upgrayedd'd to AAAA, or a "double dose of AA".  Seems appropriate with the pesky debt ceiling issue.

Mon, 04/18/2011 - 16:07 | 1181609 Bay of Pigs
Bay of Pigs's picture

When the debt ceiling is lifted (and it will be), gold will soar past $1500 like a hot knife through butter. 

Blue Sky Bitchez.

Tue, 04/19/2011 - 02:47 | 1183110 saulysw
saulysw's picture

Hey old man - I thought you'd still be suffering a hangover?

Mon, 04/18/2011 - 16:08 | 1181610 Long-John-Silver
Long-John-Silver's picture

Gold and Silver have completely recovered from this mornings raid.


Hay boys and girls, can you say 'Epic Fail'?

Mon, 04/18/2011 - 16:07 | 1181619 SheepDog-One
SheepDog-One's picture

Epic Fail.

Mon, 04/18/2011 - 16:15 | 1181638 Long-John-Silver
Long-John-Silver's picture

Very Good! Have a cookie.

Mon, 04/18/2011 - 16:20 | 1181667 narapoiddyslexia
narapoiddyslexia's picture

The raid succeeded, though, in neutralizing the news out of S&P. Whoever executed the raid had some leading info, maybe?

Mon, 04/18/2011 - 16:53 | 1181773 JLee2027
JLee2027's picture

Yes. But no longer do they hold back the price. Only the rate of increase.

Mon, 04/18/2011 - 16:06 | 1181614 gordengeko
gordengeko's picture

I think we here at zh are stuck in one of those 3D pictures. I'm expecting rodney piper to come busting in the fed soon looking for some bubblegum.

Mon, 04/18/2011 - 16:12 | 1181629 mynhair
mynhair's picture

Roddy, you nutmeg.  Rowdy Roddy Piper.

Mon, 04/18/2011 - 16:16 | 1181644 andybev01
andybev01's picture

Roddy, not Rodney; one of the best socio-politico B movies ever.

Mon, 04/18/2011 - 18:11 | 1181972 gordengeko
gordengeko's picture

LOL, yeah roddy.  That flick never gets old.

Mon, 04/18/2011 - 16:10 | 1181617 Joe Davola
Joe Davola's picture

It's so obvious - just roll over all the debt into debt that's not subject to the limit!


Any congresscritter/aide stealing this idea - make sure to name the omnibus bill after me.

Mon, 04/18/2011 - 16:07 | 1181620 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

POTUS 2010 Income Tax Return is out.

.......We wanna see Turbo Timmy's Tax return......

Mon, 04/18/2011 - 16:13 | 1181641 mynhair
mynhair's picture

As soon as TaxCheat figures out where to send it.....

Mon, 04/18/2011 - 16:12 | 1181627 Seasmoke
Seasmoke's picture

the walls are closing in (or the ceiling and the floor)

Mon, 04/18/2011 - 16:10 | 1181628 Misean
Misean's picture

We're at a point where rounding errors matter, and yet the materially the rounding is irrelevant.


Tue, 04/19/2011 - 02:52 | 1183114 saulysw
saulysw's picture

Why did someone flag this as junk? It's true....

Mon, 04/18/2011 - 16:13 | 1181630 Crummy
Crummy's picture

In other news, Santa seeks approval for a larger magic sack.

Mon, 04/18/2011 - 16:11 | 1181632 macholatte
macholatte's picture

Maybe they'll issue savings bonds instead of tax refunds. California gave out IOU's and nothing bad happened. With the right level of bullshit from the MSM propaganda machine people could be conned into thinking it was a really good idea and that Obummer really is a genius.

Here you go.....

Anything that we can do to raise personal savings is very much in the interest of this country.
Alan Greenspan

Mon, 04/18/2011 - 16:46 | 1181750 cxl9
cxl9's picture

No. Start issuing tax refunds on Visa debit cards. This will slow the rate of redemption versus a straight refund check (which gets cashed and deposited all at once). Plus people will have to spend in order to redeem, which will mean additional tax revenue. Maybe strong arm the merchants too and capture some of the discount. Lots of room for additional rip-offs and scams here. Why should people get their tax money back, anyway? It's not like it's really their money after all.

Mon, 04/18/2011 - 17:10 | 1181821 Klaus Daimler
Klaus Daimler's picture

Yeesh.  Too likely for comfort.  Coming soon to a mailbox near you...

Mon, 04/18/2011 - 20:14 | 1182273 Waterman Jim
Waterman Jim's picture


like f-ing At&t

Mon, 04/18/2011 - 16:14 | 1181642 tekhneek
tekhneek's picture


Mon, 04/18/2011 - 16:14 | 1181645 nah
nah's picture

why cant we just take some kids to afghanistan and have their heads chopped off to honor the god trillion... surely he will forgive us and provide healthcare again

Mon, 04/18/2011 - 16:15 | 1181646 slackrabbit
slackrabbit's picture

now thats  leadership!

Mon, 04/18/2011 - 16:16 | 1181653 Bastiat
Bastiat's picture

We don't need Congress to declare war anymore, I guess, so now we don't need 'em to raise the debt limit either. 

Mon, 04/18/2011 - 16:47 | 1181753 Horatio Beanblower
Horatio Beanblower's picture

The Bastiat Collection from -

Mon, 04/18/2011 - 16:17 | 1181654 AC_Doctor
AC_Doctor's picture

SDR ingredients are being intermingled with and are in the final stages right before baking...

Mon, 04/18/2011 - 16:25 | 1181688 SheepDog-One
SheepDog-One's picture

EXACTLY right, while all the techno-wizards have baked in 'all is well debt ceiling raise and QE to infinity', the real story is we're about to get the anal raping of SDR currency...Id guess .05 cents on the dollar max. Enjoy. And no one will ever see it coming until 1 morning markets are closed and that is the headline.

Mon, 04/18/2011 - 20:13 | 1182283 Waterman Jim
Waterman Jim's picture

You talkin' worldo good buddy?

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