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US Avoids Technical Default By Three Days

Tyler Durden's picture





 

On December 24, the Senate passed a vote by a razor thin margin (with not a vote to spare) to raise the Federal debt ceiling from $12,104 billion to $12,394 billion. The actual debt ceiling increase took effect on December 28. And as the chart below shows, the Treasury's cash flow projections were spot on: 3 days later, and the debt subject to limit surged to $12,254, a jump of over $200 billion in 2 days, and a whopping $150 billion over the old debt ceiling. Three days is all the buffer the administration's reckless spending spree has afforded this country to avoid bankruptcy. Had one more Democratic vote dissented from the stopgap measure, the US would now be in technical default. There is just $140 billion left before the revised debt ceiling is breached. We hope for the country's sake that Bill refunding in January is massive, because as we already pointed out, on January 7th we expect another ~$130 of new Treasuries to be announced for auction by January 15th. And then there are two more weeks in January... Which is why the Treasury better be using that TARP money to pay down all it can, because if the general population understands how close this nation was to the fiscal brink, many more answers may be demanded out of the ruling party as to how it could allow things to get so out of hand.

 


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Tue, 01/05/2010 - 20:38 | Link to Comment bugs_
bugs_'s picture

Maybe someday.

Wed, 01/06/2010 - 10:04 | Link to Comment Cursive
Cursive's picture

As the old CCR song goes, "Someday never comes...."

Seriously, though, I am hopeful we'll get this thing back on track.

Tue, 01/05/2010 - 20:40 | Link to Comment phaesed
phaesed's picture

Marla had pointed out several weeks before the vote that we were in fact over the $12T ceiling.

Tue, 01/05/2010 - 20:41 | Link to Comment Tyler Durden
Tyler Durden's picture

That was on total debt outstanding (blue line), not debt subject to limit (green line).

Tue, 01/05/2010 - 21:11 | Link to Comment phaesed
phaesed's picture

Ahhh, ty... I tend to think of debt as debt, nothing more, nothing less :)

Tue, 01/05/2010 - 20:48 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

As Maxwell Smart would always say, while holding two fingers close together.... "Missed it by that much."

Tue, 01/05/2010 - 21:00 | Link to Comment deadhead
deadhead's picture

Golf clap, CD!

That one brought back memories to this old fart!

Tue, 01/05/2010 - 21:11 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I still have a "thing" for 99. She's burned into my memory banks, or what's left of them. It's hard to believe Barbara Feldon is nearly 78.

Move along everyone else. It's just two old farts strolling down memory lane.

http://www.imdb.com/name/nm0271156/

Tue, 01/05/2010 - 21:31 | Link to Comment Argos
Argos's picture

I vote for "I dream of Genie" Barbara Eden! Dibs.

Tue, 01/05/2010 - 21:34 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

A real beauty in her time and still a very fine looking woman at 76.

http://www.imdb.com/media/rm265914368/nm0001174

Tue, 01/05/2010 - 23:27 | Link to Comment phaesed
phaesed's picture

A truly beautiful woman can be beautiful at any age :) Hell, look at Morgan Fairchild or Dolly Parton

Wed, 01/06/2010 - 00:53 | Link to Comment BobPaulson
BobPaulson's picture

ew.

Wed, 01/06/2010 - 01:53 | Link to Comment phaesed
phaesed's picture

lolol.

Sat, 01/09/2010 - 18:22 | Link to Comment dnarby
dnarby's picture

ggmilfs

Tue, 01/05/2010 - 21:39 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Double post.

Tue, 01/05/2010 - 21:54 | Link to Comment Miles Kendig
Miles Kendig's picture

Donna Reed! 

Tue, 01/05/2010 - 22:04 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Just read and responded to your QE 2.0 post.

Tweaker time it is. That is now part of my ZH vocabulary and I'll try to use it daily. Thanks Miles for furthering my education. :>))

Wed, 01/06/2010 - 07:56 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

It's A Wonderful Wife.

 

Tue, 01/05/2010 - 23:35 | Link to Comment ShankyS
ShankyS's picture

Barbara Eden ruled - but the question of Mary Ann or Ginger must be posed to the ZH old fart community.

Wed, 01/06/2010 - 03:19 | Link to Comment faustian bargain
faustian bargain's picture

dude. Mary Ann and Ginger.

Wed, 01/06/2010 - 08:29 | Link to Comment BoeingSpaceliner797
BoeingSpaceliner797's picture

"Lobster or cracked crab?"  "Can't we have both?"

Tue, 01/05/2010 - 20:48 | Link to Comment Scooby Dooby Doo
Scooby Dooby Doo's picture

Ceiling schmealing. What's a few billion between uber debtors.

Tue, 01/05/2010 - 20:48 | Link to Comment john_connor
john_connor's picture

They'll make it by $1 next month and no one will care. 

Tue, 01/05/2010 - 20:53 | Link to Comment faustian bargain
faustian bargain's picture

1. the herd doesn't care much about this.

2. passage of the raised debt ceiling was a formality. If it hadn't passed, all that would mean is the accountants would have to work a little overtime to cook the books some more.

Tue, 01/05/2010 - 21:17 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Agreed on both points. The proof of the book cooking is the moon shot it did after the ceiling was raised. Steam has a tendency to do that when the pressure is released. You just know money was moved around and bills were left unpaid.

I'll even wager a small bet that some patriotic defense contractors called to let the government know they wouldn't mind being paid a little late if it meant they would get a "late payment" from the government as compensation for suffering a few days.

Tue, 01/05/2010 - 21:27 | Link to Comment Anonymouse
Anonymouse's picture

Agree.  Frankly, the debt limit is just a political game so that the party out of power can complain about the party in power.  It has no practical effect.  Robert Rubin proved that (when was that, 1995?).  If memory serves, we were over the debt limit for about 3 weeks, but Treasury shenanigans papered over it.

Don't get me wrong. The US is close to the brink, but not because of the debt limit.  It's like when Bugs Bunny draws a line "I da'st you to step over that line". --next line -- "Well, you'll never step over this one." --new line--, etc. until Elmer Fudd steps over the last line and falls off a cliff.  Actually, rather prescient now that I think about it.

Tue, 01/05/2010 - 21:31 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

LOL,

I just made a Maxwell Smart quip above. It's truly remarkable how cartoons and prime time TV from any era applies so well to modern day life.

Insanity any way you slice it.

Tue, 01/05/2010 - 23:07 | Link to Comment Anonymous
Wed, 01/06/2010 - 00:34 | Link to Comment dark pools of soros
dark pools of soros's picture

maybe we will just get a higher denomination to play with soon..  the $1,000 bill..  who would be on it??  Ben?  Obama? ahh yes..  Greenspan of course.  It'll even sound cool..   give me some Greenspans...

Wed, 01/06/2010 - 08:34 | Link to Comment BoeingSpaceliner797
BoeingSpaceliner797's picture

How 'bout just revive the $10,000 bill (traitor to US Salmon P. Chase on that one) and/or the $100,000 bill (traitor Woodrow Wilson on that one)?

Wed, 01/06/2010 - 01:18 | Link to Comment Anonymous
Tue, 07/12/2011 - 01:14 | Link to Comment stedlarhope
stedlarhope's picture

You'll only get about 0.94 of our aussie units now.

Tue, 01/05/2010 - 23:12 | Link to Comment SilverIsKing
SilverIsKing's picture

They trample over the constitution without blinking an eye.  Debt limit?  What's that?

Wed, 01/06/2010 - 01:23 | Link to Comment Anonymous
Thu, 01/07/2010 - 05:22 | Link to Comment Anonymous
Wed, 01/06/2010 - 18:19 | Link to Comment omi
Tue, 01/05/2010 - 22:21 | Link to Comment Anonymous
Thu, 01/07/2010 - 11:33 | Link to Comment Anonymous
Tue, 01/05/2010 - 21:03 | Link to Comment Anonymous
Tue, 01/05/2010 - 21:06 | Link to Comment chet
chet's picture

They're going to have to raise it every couple of weeks at this rate.  If they couldn't raise it by a significant level in the dead of night over the holidays, what makes them think they'll get the votes now we're in the election year?

Tue, 01/05/2010 - 21:20 | Link to Comment MarkD
MarkD's picture

To infinity and beyond.........Quick, get Dick to explain to us once again how deficits don't matter.

Does this mean those with mortgages won't get their principle reduced? Darn.

I hardly doubt we will be living within our means anytime soon.......what will we cut? 

Once Americans are givin the choice between cutting or borrowing, they will take the borrowing and demand the ceiling be raised.

What will we cut when the economy and most Americans are dependent on gov spending.

Wed, 01/06/2010 - 01:27 | Link to Comment dark pools of soros
dark pools of soros's picture

schools of course..  they can just dumbify the exams to make it look like everyone passes ..  we are going to outsource the jobs anyway

Wed, 01/06/2010 - 01:29 | Link to Comment Anonymous
Tue, 01/05/2010 - 21:22 | Link to Comment Anonymous
Tue, 01/05/2010 - 23:08 | Link to Comment Im-Not-Dumb-Im-...
Im-Not-Dumb-Im-Bernake's picture

Agreed!

What? Are the Chinese going to put the whole nation in debtor's prison? 

Wed, 01/06/2010 - 01:30 | Link to Comment dark pools of soros
dark pools of soros's picture

worse... they can change all our keyboards and road signs to Mandarin!!!

Wed, 01/06/2010 - 01:52 | Link to Comment faustian bargain
faustian bargain's picture

might not be so far fetched...how much US real estate do they own by now? And they've got a pro sports team too. We might just end up paying them rent to live in our houses.

Wed, 01/06/2010 - 09:52 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

I remember hearing similar comments about Japan 20 years ago, though the circumstances are now completely different. Or are they?

Tue, 01/05/2010 - 21:24 | Link to Comment Charles Mackay
Charles Mackay's picture

It looks like the debt limit won't stand beyond February 15, based upon recent deficit spending trends.  That is assuming, of course, that blank checks will not be written by Fannie & Freddie for a few more months to cover their losses and/or asset (mortgage) purchases.

Tue, 01/05/2010 - 21:30 | Link to Comment 10044
10044's picture

don't worry, they'll raise the ceiling, like I said before:

What's the point of having the fcking ceiling if they keep raising it?? why have it at all, bunch of fcking morons.

Only Ron Paul understands what's going on.

Thu, 01/07/2010 - 05:25 | Link to Comment Anonymous
Tue, 01/05/2010 - 23:56 | Link to Comment Orly
Orly's picture

This is where it gets hairy.

The Fed will start to use Fannie and Freddie, with their now-explicit backstop from the US government (erasing even the slightest doubt...) as a financial sieve.

"Money" will be pumped throughout the economy with the new Federated Feedback Loop: the Fed unloads its excess MBS and associated baggage into the GSEs as bottomless pit; the banks are now saturated with real government cash (courtesy of some dude named "Joe Sixpack"...) that they can now lend out to talented and industrious second-generation Americans who are developing the next big thing.  Sounds bubblicious.

 

Like all the relics in the US government archive- just like in Indiana Jones- the Fed will stow away the debt in large crates never to be seen again.

The GSEs are now government entities that hold trillions of dollars in our collective "wealth" and it seems that while we were watching the best season of American Idol ever, the government wound up owning a large chunk of half the single-family homes in the nation.

Slick.

The author of the piece talks of the nick-of-time, the so-close call, within three days.  Well, I submit that economics may be more of a science than we like to admit.  I mean, how many times- again a la Indiana Jones- how many times can we pull ourselves from the ultimate brink of disaster just before we teeter over the edge.

 

All of this stuff is starting to seem like a really bad off-Broadway production of a Rogers and Hammerstein musical in some backwater town in southern West Virginia.  Overly loud and deliberately confusing, we say to ourselves, "Man, there's no way they can be this bad."

Now the underwear bomber and the revelation that the Obama Admisnistration is looking for "rogue elements" inside the intelligence community who may have helped our would-be martyr slip past security in five international locations with all those red flags flying, all I can do is just shake my head.

"Rogue elements."  Please.

Really, really bad script all around.

Wed, 01/06/2010 - 01:35 | Link to Comment dark pools of soros
dark pools of soros's picture

if they dont believe the first lie, keep telling bigger ones until they do

Wed, 01/06/2010 - 01:57 | Link to Comment faustian bargain
faustian bargain's picture

Just like Lucy and Ethel used to do.

Wed, 01/06/2010 - 08:00 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

"ooooohhhhhhh Looooooooooooo-ceeeeeeeeeeeeeee"

-Babaloo

Tue, 01/05/2010 - 21:25 | Link to Comment Anonymous
Tue, 01/05/2010 - 22:47 | Link to Comment MichaelC
MichaelC's picture

No that is not correct. Although the Outstanding Debt was $8,190 Billion on the 26th Jan 2006, the debt subject to limit was $8,126 Billion. They get to do add backs like "unamortized discount" etc that total $64 B.     

Tue, 01/05/2010 - 21:32 | Link to Comment Anonymous
Wed, 01/06/2010 - 00:55 | Link to Comment BobPaulson
BobPaulson's picture

their

Wed, 01/06/2010 - 08:04 | Link to Comment Anonymous
Wed, 01/06/2010 - 00:59 | Link to Comment Yophat
Yophat's picture

Amen!

Wed, 01/06/2010 - 06:24 | Link to Comment Anton LaVey
Anton LaVey's picture

Owe, not 'oue'.

And 'problem', not 'problm'. Please.

Tue, 01/05/2010 - 21:48 | Link to Comment MsCreant
MsCreant's picture

If their lips are moving, they are lying. This is a narrative, a story, that's it. There is no system, only chaos. The narratives (debt ceilings, treasuries, repos, stock purchases) are all simulacra, a truth to hide from us that there is no truth. Look at the BLS...look at the balance sheets...let's vote on this.

The big bang has already taken place. Entropy is a bitch.  I'm pulling Gs and getting vertigo all at the same time.

The only reason there is order, is people believe in order. We act on things based on the meanings that they have for us.

The debt ceiling is a glaring crack in the cosmic egg and a device used to maintain order. If there ever was a system, it is broken beyond patches, props, and repairs. We keep trying to read tealeaves in the tea cup, when we all know the truth. Between theft, pride, and incompetence, we will NEVER get a look at a set of books that would give us the answers we crave. 

The so called system is blown to hell and that is what they are hiding.

Tue, 01/05/2010 - 21:56 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

You go girl.

Tue, 01/05/2010 - 22:00 | Link to Comment Anonymouse
Anonymouse's picture

You sound like Morpheus.  I was reading your post and kept hearing Laurence Fishburne in my head.

Tue, 01/05/2010 - 22:05 | Link to Comment Miles Kendig
Miles Kendig's picture

MsCreant, welcome to the reality that our nation is subsisting on tweaker time.  Yes indeed, political party or any other grouping matters not a wit when all that remains is the flail. A never ending moment in time wherein everyone gets to appreciate what life with a never satisfied three thrust bust entails.  I see that you have your wagging pinky finger salute all warmed up further enhancing my faith in you.

Wed, 01/06/2010 - 01:47 | Link to Comment dark pools of soros
dark pools of soros's picture

isnt there always a chance for a military coup that foils even best laid government ransacking?   not saying if that would be good or bad, just sayin

Tue, 01/05/2010 - 22:29 | Link to Comment TumblingDice
TumblingDice's picture

It is like agent smith not accepting his destruction...so now we have to watch the two bad Matrix movies to see what happens.

Tue, 01/05/2010 - 22:30 | Link to Comment fuu
fuu's picture

bravo

Tue, 01/05/2010 - 22:33 | Link to Comment Lndmvr
Lndmvr's picture

Sorry but reminded me of the old saying, " Only sailors get blown offshore "

Tue, 01/05/2010 - 21:49 | Link to Comment mule65
mule65's picture

Simple - repeal the debt ceiling.

Tue, 01/05/2010 - 22:03 | Link to Comment Anonymous
Wed, 01/06/2010 - 08:05 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

What you describe sounds much more like the "review" standard. I thought the rules as to an audit essentially require the auditor to exercise some level of professional judgment as to what needs to be investigated, as a form of due diligence, to validate the numbers.  I'd have to dig into the rules to find this but I'm pretty sure E&Y and other Big 4s don't get off that easy.  Heck Arthur Andersen would still be around if that were the applicable standard.

Wed, 01/06/2010 - 00:46 | Link to Comment Anonymous
Wed, 01/06/2010 - 00:57 | Link to Comment Yophat
Yophat's picture

Credit line for the states' unemployment borrowing for January is $7.5 billion....

http://yophat.blogspot.com/

Wed, 01/06/2010 - 01:19 | Link to Comment Anonymous
Wed, 01/06/2010 - 02:06 | Link to Comment Anonymous
Wed, 01/06/2010 - 03:45 | Link to Comment hambone
hambone's picture

I'm in the phonebook! I've found my special purpose!  Just like Navin Johnson in the Jerk I'm now somebody as well - no longer just "anonymous".  Get ready to be able to identify where some of the stupiderrr remarks on ZH come from. 

Ok, so, national debt has gone from 100% of GDP post WWII to 30%'ish by '70's and now ramping back up to 100% this year or next year.  So what?  Rising debt to GDP is supposed to incent higher treasury yields due to greater risk.  However, over the past thirty years as national debt has ramped, rates have fallen.  WTF?  Maybe, to cite our previous VP, deficits do not matter because current generations will hand future generations the means to pay off the debt or some such sheeeit.  Still, though I'm not a fan of the man, why aren't rates backing up with any concern over mounting deficits and the apparent decreasing risk premium as debt escalates.  Anyone?  Ready (and eagerly awaiting) to be biatch slapped for lower the bar here on ZH.  Cheers.

Wed, 01/06/2010 - 10:25 | Link to Comment Anonymous
Wed, 01/06/2010 - 03:55 | Link to Comment TraderV
TraderV's picture

No doubt Turbo will seek infinity as the next debt ceiling. Nothing to see here ...

Wed, 01/06/2010 - 03:56 | Link to Comment TraderV
TraderV's picture

Actually I mean't infinity+1.

Wed, 01/06/2010 - 04:41 | Link to Comment Handle with care
Handle with care's picture

Think of it this way, the higher that debt rises the more of your future work will be just to pay interest to the people that hold it.

 

So your future and that of your children and grandchildren seems to be to work in indentured servitude having most of the results of your labors seized by the government and given to a small group of elite superrich and the Chinese and Japanese governments.

I'd like to claim this as an original insight, but Thomas Jefferson said it first and better, "I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered."

 

Wed, 01/06/2010 - 05:47 | Link to Comment Silver_Bullet
Silver_Bullet's picture

The House of Morgan has been gasping from one crisis to the next since Aug 15th 1971.  There has been some sort of crisis almost every year since then and things are accelerating.  it is like the quickening on Highlander.  Helicopter Ben will grow hair, and then the hair will stand up.  Then all the windows blow out in the Fed and Lorenzo Lamas is confirmed Fed Chairman.  Booya  :p

Wed, 01/06/2010 - 14:11 | Link to Comment Shameful
Shameful's picture

Okay you got me, this sounds awesome!  But will there be a Gathering of Central Bankers and Currencies in some place like NYC where they will do battle?  "There can be only one!" 

Wed, 01/06/2010 - 08:06 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

Get ready for the next shoe in the form of "positive" employment numbers, courtesy of some sort of seasonal adjustment by the BLS.

Wed, 01/06/2010 - 11:58 | Link to Comment Cyan Lite
Cyan Lite's picture

People also are forgetting that the Census Dept is hiring 1.5 million Americans.  Those numbers will get reported this week...

Wed, 01/06/2010 - 10:02 | Link to Comment Anonymous
Wed, 01/06/2010 - 14:47 | Link to Comment Anonymous
Wed, 01/06/2010 - 14:55 | Link to Comment Anonymous
Wed, 01/06/2010 - 16:19 | Link to Comment Yophat
Yophat's picture

LOL Already happened 2000-2007....now its time for the bounce back!

 

Its a game of transfer the assets....flood the market with debt (printed money with zero cost) then watch inflation take off....drop in the value of the dollar as more dollars hit the streets.....then watch deflation take hold and the value of the dollar increase as interest and debt defaults sweep the streets.....then foreclose and take ownership of all the assets with printed money again.

 

Example - California is trying to sell off all their buildings for short-term cash but will sign 20 year lease agreements.  From owner to renter!  What was that line from Thomas Jefferson about the people waking up penniless in the land their forefathers conquered....

Wed, 01/06/2010 - 15:48 | Link to Comment Anonymous
Wed, 01/06/2010 - 16:32 | Link to Comment Anonymous
Wed, 01/06/2010 - 21:45 | Link to Comment Yophat
Yophat's picture

The buy gold recommendation was awesome in 2000....the lock your doors recommendation is awesome for 2011!

Thu, 01/07/2010 - 02:05 | Link to Comment Sirreal
Sirreal's picture

I am new here so I don't know if anyone has ever suggested that: we try the FED for their crimes, take their stuff "asset forfiture due to fraud" and dismiss their claims of our indebtedness.  After all, they have stolen, are guilty and have made bogus claims that we owe them.  It works for me.  Screw the FED/NWO punk-ass demons

Thu, 01/07/2010 - 11:01 | Link to Comment Anonymous
Sat, 02/19/2011 - 03:21 | Link to Comment shawnlee
shawnlee's picture

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Wed, 02/23/2011 - 00:57 | Link to Comment shawnlee
shawnlee's picture

I am new here so I don't know if anyone has ever suggested that: we try the FED for their crimes, take their stuff "asset forfiture due to fraud" and dismiss their claims of our indebtedness. After all, they have stolen, are guilty and have made bogus claims that we owe them. It works for me. Screw the FED/NWO punk-ass demons!

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Tue, 03/22/2011 - 00:51 | Link to Comment shawnlee
shawnlee's picture

Shell games: the jump in the debt was about equal to last fall's drop in the supplementary financing program; the sterilized funding has probably just been reinstated, to allow the Fed to devote its QE to purposes other than helping the Treasury avoid the debt ceiling.columbus mortgage loans - charlotte mortgage loans - business services - florida real estate - seattle homes for sale - new york mortgage loans - baltimore investment property

Wed, 04/20/2011 - 05:05 | Link to Comment shawnlee
shawnlee's picture

I am new here so I don't know if anyone has ever suggested that: we try the FED for their crimes, take their stuff "asset forfiture due to fraud" and dismiss their claims of our indebtedness. After all, they have stolen, are guilty and have made bogus claims that we owe them. It works for me. Screw the FED/NWO punk-ass demons!testking - a+ practice exam - ase practice exam - ccda practice exam - ccent practice exam - ccia practice exam - ccie practice exam - ccip practice exam - ccna practice exam - ccna security practice exam

Mon, 04/25/2011 - 06:59 | Link to Comment george22
george22's picture

I am new here so I don't know if anyone has ever suggested that: we try the FED for their crimes, take their stuff "asset forfiture due to fraud" and dismiss their claims of our indebtedness. After all, they have stolen, are guilty and have made bogus claims that we owe them. It works for me. Screw the FED/NWO punk-ass demonO2 Sensor - Power Steering Conversion Kit - Power Steering Gearbox - Steering Pump

Sun, 05/22/2011 - 23:40 | Link to Comment kummar
kummar's picture

I am new here so I don't know if anyone has ever suggested that: we try the FED for their crimes, take their stuff "asset forfiture due to fraud" and dismiss their claims of our indebtedness. After all, they have stolen, are guilty and have made bogus claims that we owe them. It works for me. Screw the FED/NWO punk-ass demonpass4sure 000-108 \ pass4sure 000-115 \ pass4sure 000-118 \ pass4sure 000-119 \ pass4sure 000-151 \ pass4sure 000-152 \ pass4sure 000-153 \ pass4sure 000-533 \ pass4sure 000-977 \ pass4sure 000-978

Mon, 05/30/2011 - 05:05 | Link to Comment kummar
kummar's picture

January 7th we expect another ~$130 of new Treasuries to be announced for auction by January 15th. And then there are two more weeks in January... Which is why the Treasury better be using that TARP money to pay down all it can, because if the general population understands how close this nation was to the fiscal brink, many more answers may be demanded out of the ruling party as to how it could allow things to get so out of hand. 642-437 \ 640-721 \ FCNSP \ 000-115 \ 70-643 \ 640-461 \ 70-448 \ 70-450 \ 70-682 \ 650-195 \ 1Y0-A15 \ 70-686

Mon, 05/30/2011 - 08:14 | Link to Comment Anonymouse
Anonymouse's picture

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Sun, 06/05/2011 - 08:23 | Link to Comment sun1
sun1's picture

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Tue, 06/14/2011 - 02:56 | Link to Comment kummar
kummar's picture

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Thu, 07/07/2011 - 01:48 | Link to Comment newdeals2
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Tue, 07/12/2011 - 00:21 | Link to Comment newdeals2
newdeals2's picture

jump in the debt was about equal to last fall's drop in the supplementary financing program; the sterilized funding has probably just been reinstated, to allow the Fed to devote its QE to purposes other than helping the Treasury avoid the debt ceiling passforsure \ pass4sure ccna \ pass4sure security+ \ ccnp \ pass4sure cissp \ pass4sure a+ \ pass4sure ccda \ pass4sure network+ \ pass4sure ccie \ pass4sure itil

Tue, 07/26/2011 - 01:07 | Link to Comment newdeals2
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Tue, 07/26/2011 - 13:46 | Link to Comment david9821
david9821's picture

I'd like to claim this as an original insight, but Thomas Jefferson said it first and better, "I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered." arsenal shirts | chelsea shirts | liverpool shirts | manchester united shirts

Tue, 08/16/2011 - 00:19 | Link to Comment newdeals2
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For once, some actually good insight from a CNBC guest. Philip Manduca, Head of Investment of the ECU Group, discusses Greece and the very severe implications of what the final outcome will look like. "Trichet said the Greeks are crooks, and they've been lying about the numbers. There is a deeply embedded corruption within the Eurozone. Combined with the endemic European socialism and there is just no way you are going to get spending cuts and tax raises and maintain a GDP Pass4sure 642-067 | Pass4sure 1z0-051 | Pass4sure 310-065 | Pass4sure 642-504 | Pass4sure 642-655 | Pass4sure 650-195 | Pass4sure HP0-P14 | 642-874 | Pass4sure 642-971 | Pass4sure 310-200 | Pass4sure 642-533 | Pass4sure 642-611 | Pass4sure 642-691 |

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