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Treasury Math: #Winning

Tyler Durden's picture





 

We have a quick question for the Treasury Secretary: according to today's DTS, as of close yesterday, the Treasury had $14.274 trillion in debt subject to the ceiling of $14.294 trillion, or a $20 billion "buffer." To the best of our knowledge there were no redemptions today, and certainly none in the non-Bill pipeline this week. So, uh, how exactly did Tim Geithner auction off $32 billion today? (and plans to auction off another $40 billion tomorrow and Thursday)

 


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Tue, 05/10/2011 - 16:36 | Link to Comment tmosley
tmosley's picture

They created a new "bad nation", and moved all the excess debt over to it.

Edit: Just found out the name--Bernankylvania.

Tue, 05/10/2011 - 16:40 | Link to Comment nkktwotwozero
nkktwotwozero's picture

Bad Nation! Bad Nation! Look what you did to this Balance Sheet!

--

Brawndo! They've got electrolytes!

Tue, 05/10/2011 - 16:40 | Link to Comment kushmere
kushmere's picture

Bad Nation makes Lord Inglip angry!

Tue, 05/10/2011 - 20:44 | Link to Comment dlmaniac
dlmaniac's picture

Perhaps we should stop marking to market when it comes to national debt.

Tue, 05/10/2011 - 21:04 | Link to Comment Mactheknife
Mactheknife's picture

Its that damn accounting software..probably made by those Turbo Tax people.

Tue, 05/10/2011 - 21:08 | Link to Comment Fish Gone Bad
Fish Gone Bad's picture

What is truly surprising is how this is actually not making the news.  To make comparisons to nazi sympathizers is a bit much, but what the heck, I might as well do it.  When bad shit is happening, and people in the media do not speak out, then they too are part of the problem.  Wow, just like the people who turned a blind eye to all the peoples carted off to camps in WWII.

Tue, 05/10/2011 - 22:35 | Link to Comment nkktwotwozero
nkktwotwozero's picture

Shit dawg. Westboro Baptist aint got sh'eet on Lord Inglip's ability to troll.

Let's Troll!

--

man, things sure have changed in a year

Tue, 05/10/2011 - 16:44 | Link to Comment Mad Max
Mad Max's picture

It's what plants crave!

Tue, 05/10/2011 - 17:04 | Link to Comment dexter_morgan
dexter_morgan's picture

...lots of tards out there livin kick-ass lives.......

Tue, 05/10/2011 - 18:39 | Link to Comment John Wilmot
John Wilmot's picture

My wife used to be a tard, now she's an airline pilot

Tue, 05/10/2011 - 21:02 | Link to Comment nkktwotwozero
nkktwotwozero's picture

Haulin'Ass Gettin'paid!

--

THAT'S WHAT I'M TALKIN' ABOUT!

http://www.catherineomega.com/wp-content/uploads/2009/07/idiocracy_money.jpg

Tue, 05/10/2011 - 17:16 | Link to Comment SheepDog-One
SheepDog-One's picture

Now I know everyones feelins are all upset about this starvation and shit, but I got a PLAN I got this 'Not Me' guy to fix everything, in 2 weeks!

Tue, 05/10/2011 - 19:15 | Link to Comment Cui Bono
Cui Bono's picture

'Baitin'

Tue, 05/10/2011 - 20:55 | Link to Comment nkktwotwozero
nkktwotwozero's picture

Sit'yo' monkey ass down!

--

Brought to you by Carl's Junior. Fuck you! I'm eating!

Wed, 05/11/2011 - 01:33 | Link to Comment bobafett164
bobafett164's picture

I always figured Idiocracy type stupid people would be at least 2 generations away. I look at things now and when I finish laughing/crying I realize that all you people on here talk funny...

Comin' up next on The Violence Channel: An all-new "Ow, My Balls!"
-----

If anyone needs me I'll be in the corner buying metals and stabbing myself in the face

Tue, 05/10/2011 - 16:42 | Link to Comment oogs66
oogs66's picture

The new math is all about rounding and estimating.  So in the new math the debt ceiling is 14.5 trillion because its close to the actual number, but easier to remember, and honestly, if we rounded to nearest trillion, that would only be 14.5 trillion, and 15 trillion seemed a bit far fetched.  At least until July.  So with our approximate debt limit of 14.5 trillion, and current borrowing of approximately 14 trillion (rounding to nearest trillion works best for actual debt) we have plenty of room. 

Tue, 05/10/2011 - 16:50 | Link to Comment nope-1004
Tue, 05/10/2011 - 17:19 | Link to Comment Paul Bogdanich
Paul Bogdanich's picture

They are simply chosing to ignore the law as in their thought process it does not apply to them anyway.  They make the laws they need and do as they please.  The sad part is that neither of the other two branches of government will do a damn thing about it.  It's sad to see our whole constitutional structure totally subverted by campaign finance.  At least the Germans had a Fuhrerprinzip so everyone knew the rule of law was a farce.  "His word is above all written law."  That's the way these guys behave and what they believe. 

Tue, 05/10/2011 - 18:38 | Link to Comment John Wilmot
John Wilmot's picture

Birds of a feather..

Tue, 05/10/2011 - 19:15 | Link to Comment magpie
magpie's picture

Oh if this was approaching the "Führerprinzip" or the ancient Roman principate, TPTB could easily find a way to ignore the debt ceiling and loan the President money directly.

Tue, 05/10/2011 - 17:37 | Link to Comment Weisbrot
Weisbrot's picture

he will never get charged with any wrong doing

if ever questioned by the lame stream media, he will come up with some b.s. juggling act

dont forget the opposite of progress is congress

lets all have some audacity to hope that the change in congressional leadership is change we can rely on and believe in...... time will tell

Tue, 05/10/2011 - 18:29 | Link to Comment whstlblwr
whstlblwr's picture

Congressman Cooper's, Fixing Congress, available now Boston Review:

http://www.bostonreview.net/BR36.3/ndf_jim_cooper_fixing_congress.php

"I see a Congress that is willfully blind to our nation’s worst problems. For example, the true national debt is many times higher than most published figures suggest, much closer to $50 trillion than $15 trillion."

Tue, 05/10/2011 - 18:28 | Link to Comment DriveByLurker
DriveByLurker's picture

Taking your idea to its logical end...

14.294 rounds up to 14.5

14.5 rounds up to 15

15 rounds up to 2 x 10^13, which gives enough limit for another 3-4 years of print-and-borrow.

Brilliant work!  There will be a little something extra in your check this week, probably a Presidential Medal of Freedom. 

 

Tue, 05/10/2011 - 19:44 | Link to Comment chemystical
chemystical's picture

Not to give Timmy any help, but technically speaking, 14.5 rounds down to 14.  A 5 doesn't always round up or down; it rounds to the even number. 

Otherwise your figures will be artificially biased to the high side.  It's a math geek thing.  Also IUPAC rounding rules.

Pedantic mode <OFF>  

Yes, a feckless Congress will either ignore the transgression (if factual) or will take the opportunity to give us more distracting politcal theatre.

Tue, 05/10/2011 - 19:24 | Link to Comment onealpha
onealpha's picture

“Contrary to common misperception, the debt limit has never served as a constraint on future spending, nor would refusing to increase the debt limit reduce the obligations the country has incurred,” he wrote in his letter.
..... The measures include a suspension of a Treasury program that helps state and local governments manage their debts, and borrowing money from a pension fund from federal workers. The Treasury also could tap an emergency program used to deal with foreign financial crises.

http://www.aarp.org/politics-society/government-elections/news-05-2011/debt_ceiling_deadline_now_aug_2.html

 

Wed, 05/11/2011 - 07:12 | Link to Comment rufusbird
rufusbird's picture

There may be a little hidden gem in the balance sheet. A "not shown" figure.  All the income made from writing endless put options....

Tue, 05/10/2011 - 16:43 | Link to Comment Mae Kadoodie
Mae Kadoodie's picture

Bernankistan--is nice, no?

Tue, 05/10/2011 - 16:51 | Link to Comment tmosley
tmosley's picture

No, Bernankylvania is populated with zombies of various descriptions, ghouls, and vampire squid.

Bernankistan already exists, it's where the Fed is chartered, and they carry out terrorist operations against the US and the peoples of the world.

Tue, 05/10/2011 - 17:04 | Link to Comment magpie
magpie's picture

Central Committee of Bernankylvania announces production quota of Debt Target achieved by 150 %. Inflation Rationing to be suspended, Comrades.

Tue, 05/10/2011 - 19:18 | Link to Comment Cui Bono
Cui Bono's picture

I'm holding out for

BerNanking

Tue, 05/10/2011 - 17:08 | Link to Comment willien1derland
willien1derland's picture

Outstanding! Bad Nation...tmosley, thought experiment if everyone in the Good Nation maxed out their credit cards right now & passed it to the 'Bad Nation' would it make a sound? - great post!

Tue, 05/10/2011 - 17:13 | Link to Comment BlackholeDivestment
BlackholeDivestment's picture

...that was funny, ''bad nation''

+QE infinity

Tue, 05/10/2011 - 17:24 | Link to Comment Weisbrot
Weisbrot's picture

Tue, 05/10/2011 - 17:27 | Link to Comment centerline
centerline's picture

Now who would junk that?  Post of the day in my opinion.

Tue, 05/10/2011 - 17:28 | Link to Comment zeroman
zeroman's picture

A NEW BAD NATION. HAHAHA. THAT IS HILARIOUS!! IF THEY CAN GET GENERAL MOTORS OUT OF BANKRUPTCY, THEY CAN PLAY WITH THEIR OWN SINCE THEY RIGHT THE RULES.

Tue, 05/10/2011 - 17:31 | Link to Comment Greater Fool
Greater Fool's picture

Actually, they're just following the new and **improved** method of accounting for debt: Debt Value Adjustment. Like Credit Value Adjustment, which discounts the values of assets based on the likelihood of the counterparty defaulting, Debt Value Adjustment allows you to discount your own debts using the same likelihood. So, since the Treasury has a non-zero probability of default, the actual present value of the debt is still below the limit.

Okay, I'm making that up. Treasury doesn't do this. But some companies do; pension plans in continental Europe are in effect required to do this by valuing liabilities using AA financial curves. (Makes those sovereign bonds look great...for a while....)

I love the idea that the value of my liabilities shrink, on a per-dollar basis, the worse my credit is. I think this has serious potential for sovereign and personal finance.

Tue, 05/10/2011 - 17:54 | Link to Comment donis
donis's picture

california?

Tue, 05/10/2011 - 18:58 | Link to Comment Calculated_Risk
Calculated_Risk's picture

I believe that would be "Legacy Nation".

Tue, 05/10/2011 - 16:37 | Link to Comment FOC 1183
FOC 1183's picture

he's using Turbo Tax

Tue, 05/10/2011 - 17:10 | Link to Comment Alex Kintner
Alex Kintner's picture

+2 Turbo Timmah. He'll just claim he didn't know how the software works.

Tue, 05/10/2011 - 16:38 | Link to Comment SheepDog-One
SheepDog-One's picture

Im sorry, your answer was '3' characters long and a maximum of '2' are allowed....please feel free to try Captcha at a later time.

Tue, 05/10/2011 - 16:40 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

i was told there would be no math............

Tue, 05/10/2011 - 16:35 | Link to Comment JimBobOMG
JimBobOMG's picture

Shenanigans!

Tue, 05/10/2011 - 17:19 | Link to Comment augie
augie's picture

i swear to God, I'll pistol whip the next guy who says shenanigans. Imagine how much our country could acomplish if we didn't watch all these stupid movies and memorize qoutes from them. I must have seen idiocracy 200 times.

 

This math works the same way the CPI and consumer price index ex food/energy can be the same number (3.1) in (4th quarter i believe) 2012.

 

HOw Ith Tat Pothible?

Tue, 05/10/2011 - 17:19 | Link to Comment SheepDog-One
SheepDog-One's picture

Hey dont be so mad, lotsa 'tards out there livin kick-ass lives!

Tue, 05/10/2011 - 17:42 | Link to Comment augie
augie's picture

you mean, from the toliet?

Tue, 05/10/2011 - 19:23 | Link to Comment Cui Bono
Cui Bono's picture

Hey Math Man, what's the name of that restaurant you like with all the goofy shit on the walls and the mozzarella sticks?

Tue, 05/10/2011 - 16:35 | Link to Comment tecno242
tecno242's picture

They started Treasury Account II, that has zero debt and a new 14 trillion limit.

We're good to go.

Tue, 05/10/2011 - 17:28 | Link to Comment Rainman
Rainman's picture

......and the TA II can lease out gold & silver to the ETFs......the National Parks can be leased to a private toll operator....there are endless panic cash generating schemes. It's the Chicago way.

Tue, 05/10/2011 - 16:35 | Link to Comment oogs66
oogs66's picture

Jeethner would now like to honor all the reporters who don't question him about this little detail with a participation award.  Its not about winning or losing, just about participating and feeling good and having fun.  Its what made America great....  Really....Seriously

Tue, 05/10/2011 - 16:36 | Link to Comment Xibalba
Xibalba's picture

turbotax

Tue, 05/10/2011 - 16:40 | Link to Comment nmewn
nmewn's picture

Its PFM.

Tue, 05/10/2011 - 16:37 | Link to Comment doomandbloom
doomandbloom's picture

you worry too much Tyler...trust them...they know what they are doing...

Tue, 05/10/2011 - 16:39 | Link to Comment MonsterZero
MonsterZero's picture

Umm anyone who would enforce this would also not get paid if they did.

Tue, 05/10/2011 - 16:42 | Link to Comment trav7777
trav7777's picture

they just forgot to add it to the total...happens

Tue, 05/10/2011 - 17:29 | Link to Comment SheepDog-One
SheepDog-One's picture

Happens to me all the time with my liquor store tab!

Tue, 05/10/2011 - 16:44 | Link to Comment Sancho Ponzi
Sancho Ponzi's picture

The Department of Treasury is using a new method of accounting. It's called 'Mark-to-Madoff'.

Tue, 05/10/2011 - 16:43 | Link to Comment Logans_Run
Logans_Run's picture

Debt limit...we don't need no stinking debt limit!

Tue, 05/10/2011 - 16:52 | Link to Comment Sudden Debt
Sudden Debt's picture

It's like à speed limit. You can't... You shouldn't.... But damn it's fun to pass it!!!

And it only sucks if you get caught doing it....

Tue, 05/10/2011 - 16:44 | Link to Comment NotApplicable
NotApplicable's picture

It's all in the footnote?

3/The current balance includes $5,000 million outstanding for securities issued to raise cash for the temporary Supplementary Financing Program (www.treas.gov/press/releases/hp1144.htm)

BTW, don't look for the release, as it isn't there.

Tue, 05/10/2011 - 16:44 | Link to Comment css1971
css1971's picture

Just do what the banks do. Keep it off the books.

 

Problem just went away. See!

 

Tue, 05/10/2011 - 16:54 | Link to Comment Sudden Debt
Sudden Debt's picture

Don't give economic advice like this away for free!

And your blowing THE surprise....

Tue, 05/10/2011 - 16:41 | Link to Comment Misean
Misean's picture

How cute! Some people still think laws matter! The laws are for the little people, not the movers and shakers, silly!

Tue, 05/10/2011 - 16:56 | Link to Comment Manthong
Manthong's picture

Debt Leemeets? Debt Leemeets?  We don't need no steenking debt leemeets!

Tue, 05/10/2011 - 16:42 | Link to Comment Translational Lift
Translational Lift's picture

What.....Me Worry???  The laws and Constitution are only for suckers!!

T. G.   B. B.

Tue, 05/10/2011 - 20:37 | Link to Comment thatthingcanfly
thatthingcanfly's picture

My shitter can outrun your snake.

Tue, 05/10/2011 - 16:45 | Link to Comment Paralympic Equity
Paralympic Equity's picture

That is just what I was asking myself, how did they manage that?

As I recall they have a buffer, but it is regarding the government running for some time after the limit is hit, there is no buffer on the debt if there are no redemptions to reduce it.

 

Are they pricing it in CAD?

Tue, 05/10/2011 - 16:43 | Link to Comment firstdivision
firstdivision's picture

To the Treasury the debt limit is calculated as x/0 

Tue, 05/10/2011 - 16:43 | Link to Comment Mad Max
Mad Max's picture

#tiger blood

#adonis accounting

#Turbo Tax

Tue, 05/10/2011 - 16:43 | Link to Comment tajitj
tajitj's picture

He called me up today, I fronted him a few hundred billion bills.

Tue, 05/10/2011 - 16:56 | Link to Comment hambone
hambone's picture

Tyler,

it's their world and we are just living in it (their money, our liability...their bonus, our bailout).

Rules are what they say they are and subject to re-ruling if said rule is deemed unfavorable...and de-ruling if again found favorable.

The sooner we all accept we live someplace very un-American, the better we'll all be...(shhhh, just take the pill and soon you will be assimilated and the pain will be numbed).

Tue, 05/10/2011 - 17:01 | Link to Comment dexter_morgan
dexter_morgan's picture

good 'ol soma

Tue, 05/10/2011 - 16:43 | Link to Comment Franken_Stein
Franken_Stein's picture

 

SITE is a US military-industrial complex front and has been caught red-handed releasing fake Al-Qaeda tapes on numerous occasions.

The SITE organization is nothing more than a contractor for the U.S. government, receiving some $500,000 a year annually from Uncle Sam, the majority of which is paid for by U.S. taxpayers. The group was founded by Rita Katz, the daughter of an executed Israeli spy. Katz has worked closely with the Department of Justice, Department of the Treasury, and the Department of Homeland Security.

 

http://www.prisonplanet.com/us-government-contractor-claims-al-qaeda-has...

 

Oh, oh.

This is more than heinous.

New Yorkites will have to ask their Jewish neighbours some serious questions now.

 

Tue, 05/10/2011 - 17:01 | Link to Comment Franken_Stein
Franken_Stein's picture

Who's the coward junking me ?

Show your face, or are you not man enough ?

 

Btw, it's not me who wrote this.

I'm just citing.

 

Tue, 05/10/2011 - 17:04 | Link to Comment Tortfeasor
Tortfeasor's picture

On topic or GTFO.

 

Tue, 05/10/2011 - 17:05 | Link to Comment SheepDog-One
SheepDog-One's picture

If you ever say 'Jew' you'll get furiously junked.

Tue, 05/10/2011 - 17:20 | Link to Comment Franken_Stein
Franken_Stein's picture

 

Baruch haba.

Ma shlomxa ? Shlomi tov.

Eifo ha'sherutim ?

 

Ani gar bi New York.

Ze makom yafe.

Metzuyan !

 

Ulai ata medaberet ktzat ivrit ?

 

A-hahahahaha !!!

 

Tue, 05/10/2011 - 18:45 | Link to Comment Abitdodgie
Abitdodgie's picture

Jew

Tue, 05/10/2011 - 16:44 | Link to Comment treemagnet
treemagnet's picture

Lies will set you free.....

Tue, 05/10/2011 - 16:44 | Link to Comment topcallingtroll
topcallingtroll's picture

Surely someone can come up with timmah's email.

Post it and we can ask him.

Tue, 05/10/2011 - 17:18 | Link to Comment Alex Kintner
Alex Kintner's picture

Tel (202) 622-2000 , ask for the guy who looks like Robert Stack. Operators are standing by.

Tue, 05/10/2011 - 17:45 | Link to Comment NotApplicable
Tue, 05/10/2011 - 21:16 | Link to Comment Gyro Gearloose
Gyro Gearloose's picture

Done,....He said they found it under the cushions.   Also said something about having a hell of a lot more furniture so everythings going to be just fine.

Tue, 05/10/2011 - 21:23 | Link to Comment Gyro Gearloose
Gyro Gearloose's picture

Dup.

Tue, 05/10/2011 - 16:44 | Link to Comment Hondo
Hondo's picture

The people in Washington are idiots but the bigger idiots are the ones that keep electing them...year after year in order to fleece their or their neighbors pockets.

Tue, 05/10/2011 - 16:45 | Link to Comment MarketTruth
MarketTruth's picture

Debt is limitless/infinite when you are dealing with a FIAT currency. Just ask Zimbabwe.

Got physical gold and silver?

Tue, 05/10/2011 - 16:46 | Link to Comment jkruffin
jkruffin's picture

The reason? And it is shameful to say such, but the reason is, because anyone who matters doesn't give a f**k.  That is the problem with our government and regulators. They know the American people are too stupid to realize any of it until it has already imploded and cost them everything.

Tue, 05/10/2011 - 16:57 | Link to Comment dexter_morgan
dexter_morgan's picture

bingo!

Tue, 05/10/2011 - 17:00 | Link to Comment Chump
Chump's picture

But seriously, how can they just breach the ceiling at will?  Usually they at least make up some tale or find some footnote or some such bullshit.

Is there an explanation at all, or is Treasury just waving the middle finger since their fear-mongering didn't work?

Tue, 05/10/2011 - 17:06 | Link to Comment SheepDog-One
SheepDog-One's picture

And the ones who do realize it, they just call fringe kook conspiracy nutters.

Tue, 05/10/2011 - 18:53 | Link to Comment BlackholeDivestment
BlackholeDivestment's picture

It's more than they don't give a shit, they are actually so corrupt(ed) they are blind (Ron Paul is not blind) and therefore delusional. This means we are all exposed and unsecured. Chairsatan's BTFD Cup and RTN etc... gains, that require an offensive call to defend the security industry and their punked out bitchez, must be starved to death. Just ask Private Joker if Cowboy's life http://www.youtube.com/watch?v=PmILOL55xP0 was worth the new Communist Great Wal Mart of China's cheap price in Disneyland. http://www.youtube.com/watch?v=MfaD3s6QNDU

Tue, 05/10/2011 - 19:21 | Link to Comment francis_sawyer
francis_sawyer's picture

Look... By the time your empire reaches the COMMODUS phase of empirical rule, this is about the best you get...

Hell... We may not even be there yet (as I imagine 'Commodus' himself would have been on DWTS by now... Obama on 'The View' cuts very close though)...

 

Tue, 05/10/2011 - 16:46 | Link to Comment Long-John-Silver
Long-John-Silver's picture

These are not the debt limits we are looking for. Move along, move along.

Tue, 05/10/2011 - 17:25 | Link to Comment Alex Kintner
Alex Kintner's picture

Bring me Solo and the Wookiee. They will all suffer for this outrage.

Wed, 05/11/2011 - 08:27 | Link to Comment pupton
pupton's picture

Perhaps you feel you are being treated unfairly?

Tue, 05/10/2011 - 16:46 | Link to Comment Construct
Construct's picture

It is a global economy and the USD is still the world reserve currency. Credit need to expand exponentially if the system is to last otherwise imminent collapse. This is the nature of the system. So yes they need to raise the debt ceiling by at least 10 Trillion USD in order to cater to the 'Global' 'Middle Class'.

Tue, 05/10/2011 - 16:49 | Link to Comment rockraider3
rockraider3's picture

Winning, for sure.  Suckas!  Buying this garbage...  Including the Fed, who will swap spit with the PD's within a few weeks. 

Tue, 05/10/2011 - 16:51 | Link to Comment InconvenientCou...
InconvenientCounterParty's picture

Madoff is indignant.

Tue, 05/10/2011 - 16:56 | Link to Comment Construct
Construct's picture

I still just can not understand why he is in Jail.

Tue, 05/10/2011 - 17:09 | Link to Comment jkruffin
jkruffin's picture

Madoff was the fall guy for the ultimate plan that you see taking place the past two years. Don't you think Bernanke saw what he got away with for so long, and decided he could do it too without recourse, since he was in charge of the money machine?

When this crap crumbles, it is going to be very ugly. Everyone knows it, and they are just trying to pad their pockets with whatever they can right now.

Tue, 05/10/2011 - 16:53 | Link to Comment Dr. No
Dr. No's picture

They want to exceed the debt limit.  This is opportunity to put Boehner in a box for good.  let him spew on about cutting trillions.  This is a game of chicken, and the party which talks about cutting entitlement spending will loose 2012.  Hey, i dont like it either but that is the way washington works.

Tue, 05/10/2011 - 17:22 | Link to Comment fuu
fuu's picture

No matter who is elected in 2012 we all lose.

Tue, 05/10/2011 - 17:40 | Link to Comment FreeNewEnergy
FreeNewEnergy's picture

Who really believes they can keep this shit going for another 18 months?

Show of hands, please.

1-2- Timmah! You know that is not your hand. Please pull up your pants, young man!

Tue, 05/10/2011 - 18:38 | Link to Comment JLee2027
JLee2027's picture

Who really believes they can keep this shit going for another 18 months?

True. 

Political Parties should be outlawed. 

Tue, 05/10/2011 - 20:16 | Link to Comment unununium
unununium's picture

Lol where is your site, sign me up.

Tue, 05/10/2011 - 18:48 | Link to Comment John Wilmot
John Wilmot's picture

I'm starting to think the adminstration will raise the debt ceiling by executive order, national emergency you know...would set a fine precedent and another nail in the constitutional coffin. Would give the GOP more ammo for 2012, which I'm sure at this point is the plan - left hand puppet getting hot, take out of fire and insert right hand puppet.

Though, shocker for now, Ron Paul leading the GOP field.

Wed, 05/11/2011 - 00:23 | Link to Comment baby_BLYTHE
baby_BLYTHE's picture

Agreed about the EO.

Your also correct about Ron Paul :). It really is amazing to see after all tees years

Tue, 05/10/2011 - 16:53 | Link to Comment Traianus Augustus
Traianus Augustus's picture

I am sorry but the number you have reached (ceiling of $14.294 trillion) is based on the old system of "mark to market" debt ceiling accounting and we are clearly using the "mark to model" debt ceiling version. 

After all as most elitists would agree "Accounting is more of an art than a science"!!!

Tue, 05/10/2011 - 16:57 | Link to Comment jelyfish
jelyfish's picture

"We always like to avoid confrontation, whenever possible. Problem is solved from your end." -Office Space

Tue, 05/10/2011 - 17:00 | Link to Comment JW n FL
JW n FL's picture

@SpeakerBoehner @GOPLeader @WaysMeansCmte Debt Ceiling BLOWN by the Federal Reserve http://j.mp/mtKEOR FED says Fuck the Republicans!

 

 

That was my tweet to all the blue names above! Gotta Love the Twitter BITCHEZ!!!

Tue, 05/10/2011 - 17:01 | Link to Comment topcallingtroll
topcallingtroll's picture

I'M TOO OLD SCHOOL TO TWEET, TWIT.

HOW ABOUT A PHONE NUMBER OR AN EMAIL?

"HELLO BOEHNER, IS YOUR REFRIGERATOR RUNNING?"

Tue, 05/10/2011 - 17:02 | Link to Comment SheepDog-One
SheepDog-One's picture

Cool.

Tue, 05/10/2011 - 17:05 | Link to Comment tecno242
tecno242's picture

it was actually by the Treasury not FED.. but whatever.. YEAH!

Tue, 05/10/2011 - 17:00 | Link to Comment plocequ1
plocequ1's picture

Math.  Heres my math. PCLN + Bidu+ AAPL= $$$$$$$$

Tue, 05/10/2011 - 17:00 | Link to Comment topcallingtroll
topcallingtroll's picture

WHAT A BORING DAY.
NO VOLATILITY. NO RIOTS.
THIS SUCKS.

Tue, 05/10/2011 - 17:01 | Link to Comment boiltherich
boiltherich's picture

What impresses me is that he is demanding a rise in the ceiling of more than 2 trillion above the current limit, and assuming that the current model of the Fed buying all of it via primary dealer shills that rake off a cool 10% or so per transaction on top of the utterly inevitable QE 3 and 4, and the probability that that limit will be breached by the end of next year, well my goodness, I will finally get to be a millionaire even as I qualify for food stamps.  Barack Mugabe, 4 more years!

Tue, 05/10/2011 - 17:17 | Link to Comment Seasmoke
Seasmoke's picture

it is true what they say, be careful what you wish for

Tue, 05/10/2011 - 17:02 | Link to Comment buzzsaw99
buzzsaw99's picture

Hope Bonds bitchez!

Tue, 05/10/2011 - 17:03 | Link to Comment Agent P
Agent P's picture

Settlement Date, Bitchez!

(someone had to say it)

Tue, 05/10/2011 - 17:13 | Link to Comment willien1derland
willien1derland's picture

+10 - Nice delivery on the 'Bitchez' post

Tue, 05/10/2011 - 17:00 | Link to Comment Stuck on Zero
Stuck on Zero's picture

It's simple really.  A few key clicks, hit enter, and confirm.  Done.

Tue, 05/10/2011 - 17:05 | Link to Comment topcallingtroll
topcallingtroll's picture

I AM SO BORED!

CAN'T WE CRANK CALL THE FED OR SOMEBODY?

Tue, 05/10/2011 - 17:12 | Link to Comment tmosley
tmosley's picture

Let's get that guy with Blythe's phone number back in here.

Tue, 05/10/2011 - 19:25 | Link to Comment francis_sawyer
francis_sawyer's picture

Anybody got 'METH MAN's' number???

We could call him and ask him if he has Prince Albert in a Can... (& if that can can be dug out of the ground for $5)...

 

Tue, 05/10/2011 - 17:09 | Link to Comment boiltherich
boiltherich's picture

What slays me is the bitching on the hill from the house GOP, they control the purse strings per the constitution, so why they are whining about spending is just remarkable, it's insane.  They over spend by trillions and then bitch about the debt!  But then again wasn't it that famous republican BushCo who said that the constitution was nothing but a goddamned piece of paper? 

Tue, 05/10/2011 - 18:14 | Link to Comment Everybodys All ...
Everybodys All American's picture

The guy over spending is the Obama administration. I can't get on board with blaming the GOP on this one ... Obama didn't even submit a budget. As far as the constitution neither party appear to know what it's used for at this stage.

Tue, 05/10/2011 - 18:35 | Link to Comment JW n FL
JW n FL's picture

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

Tue, 05/10/2011 - 17:10 | Link to Comment jkruffin
jkruffin's picture

Too bad our Senators don't understand what a Constitution is anymore, otherwise Bernanke and Giethner would be shot by firing squad for Treason.

Tue, 05/10/2011 - 17:39 | Link to Comment Clycntct
Clycntct's picture

Was it Soupy Sales?  that used to say and if not him me,

Yayyyyyyyyy.

Tue, 05/10/2011 - 17:08 | Link to Comment somethingelse
somethingelse's picture

 

if the debt ceiling is breached but no one in the MSM reports on it...is the debt ceiling really breached?

Tue, 05/10/2011 - 17:17 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

Much more important to report the latest Obama poll or Arnold getting a divorce 24/7.

Tue, 05/10/2011 - 17:36 | Link to Comment Alex Kintner
Alex Kintner's picture

Ahnold to Maria: "You're terminated bitch." Man that was cold.

Tue, 05/10/2011 - 17:53 | Link to Comment NotApplicable
NotApplicable's picture

Now that he's survived being the Governator, he no longer needs the "credibility" of being part of the Kennedy clan.

In ten years, I expect him to be running the world via the UN.

Tue, 05/10/2011 - 18:18 | Link to Comment Alex Kintner
Alex Kintner's picture

Yeah the timing is too convenient to the end of his term.  I guess it was amicable so "C'est la vie".

Tue, 05/10/2011 - 17:10 | Link to Comment Firing Pin
Firing Pin's picture

Who dare question the Fed? Your ip address has been recorded...you will shortly be audited, margins raised on any stocks/futures you own, and you'll be forced to wear the scarlet letter "F."

 

Tue, 05/10/2011 - 17:10 | Link to Comment I am a Man I am...
I am a Man I am Forty's picture

this is a "you'd rather me owe it to you than fuck you out of it" sort of thing

Tue, 05/10/2011 - 17:28 | Link to Comment willien1derland
willien1derland's picture

Wow, that is one of my favorite Emily Dickenson quotes...always brings a tear to my eye...ohh the angst-

Tue, 05/10/2011 - 17:13 | Link to Comment bob_dabolina
bob_dabolina's picture

o/t:

uhhhhh...

 

“Very, Very Serious”: Unit No. 4 leaning, in danger of falling — Gov’t confirms stabilization efforts underway (PHOTO & VIDEO)

http://enenews.com/very-very-serious-reactor-no-4-leaning-in-danger-of-falling-govt-confirms-stabilization-efforts-underway-video

 

Tue, 05/10/2011 - 17:16 | Link to Comment Byte Me
Byte Me's picture

#Cheating

The new normal for financial deiforms since -- forever. But we can't cheat, oh no, that would be against peon-law.

This only ends one of 2 ways: either society / civilization goes to hell in a cheating handbasket; or the financial "elite" is exterminated as vermin. As long as 'fines' are seen as 'cost of doing business' by these arsewipes -- I can't see any other alternatives.

Tue, 05/10/2011 - 17:20 | Link to Comment magpie
magpie's picture

This might only need an E.O.

After the OBL capping, it might make the GWB nostalgia complete.

Tue, 05/10/2011 - 17:21 | Link to Comment AldoHux_IV
AldoHux_IV's picture

Math? Where we're going we don't need math.

Tue, 05/10/2011 - 17:23 | Link to Comment willien1derland
willien1derland's picture

We outsourced are math activities to India & Asia -

Tue, 05/10/2011 - 17:30 | Link to Comment centerline
centerline's picture

We don't need no stinkin math!

Tue, 05/10/2011 - 22:08 | Link to Comment Uncle Sugar
Uncle Sugar's picture

And "are" grammar too.

Tue, 05/10/2011 - 17:23 | Link to Comment willien1derland
willien1derland's picture

The is a country of laws*...Everyone is subject to the law* & there are NO EXCEPTIONS*. Any misconduct* that contravenes any laws* will be prosecuted* to the full extent of the law*. Fiscal propriety* & staunch attention to the Federal Government's fiduciary responsibility* to taxpayers is the hallmark of our Federal system...Signed, Georgios A. Papandreou...ummm no perhaps, Edna Kenny....no, no, no...Jose Socrates...no, damn it...Barack Obama...wow tis a fairly long list!

 

*Does not apply for any Federal Government employee, PIIGS, TBTF bank, and/or K Street Lobbyist

 

Tue, 05/10/2011 - 19:00 | Link to Comment Rainman
Rainman's picture

......* correct. all exempt under emergency powers.

Tue, 05/10/2011 - 17:33 | Link to Comment jkruffin
jkruffin's picture

When you hear the term "Jobless Recovery" what goes through your mind? Does your BS detector go off? It should.

Tue, 05/10/2011 - 19:32 | Link to Comment francis_sawyer
francis_sawyer's picture

Jobless Recovery???

It's more like the 'RECOVERYLESS RECOVERY'...

 

Tue, 05/10/2011 - 17:31 | Link to Comment max2205
max2205's picture

Ahhh, because the losers in Congress DON'T FUCKING CARE.
Over and out.

Tue, 05/10/2011 - 17:34 | Link to Comment 6 String
6 String's picture

So we're 10 billion above the limit as of this afternoon. But no worries, we'll be able to add another 40 billion tommorrow anyway. Which of course means:

TWJCTR

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