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US Treasury Burns $90 Billion In Cash In Under Two Weeks

Tyler Durden's picture

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Thu, 07/14/2011 - 16:22 | 1457376 ffart
ffart's picture

Catastrophic things will happen if they don't get their next dose of heroin.

Thu, 07/14/2011 - 16:53 | 1457528 malikai
malikai's picture

Treasury> Spare some change?

Me> Fuck off, parasite. Get a job.

Treasury> I just need money for a bus.

Me> Sorry. Get a job.

Thu, 07/14/2011 - 18:34 | 1457821 flacon
flacon's picture

If the date is July 22nd, then why are all the politicians talking about August 2nd? Can someone let me know? Thanks!

Thu, 07/14/2011 - 19:10 | 1457908 Cassandra Syndrome
Cassandra Syndrome's picture

Red Tape. They need agreement on the Debt Ceiling by 22nd July at the latest, so that it has time to be officially legislated and prepared and ready for Darth Obama's signature by August 2nd.

Thu, 07/14/2011 - 19:20 | 1457936 flacon
flacon's picture

Thank you. 

Thu, 07/14/2011 - 21:24 | 1458192 Harb
Harb's picture

You mean Oh Blama's Bday party on the 3rd

Thu, 07/14/2011 - 20:56 | 1458122 V in PA
V in PA's picture

Just one fix. I promise it's the last one!!


Thu, 07/14/2011 - 16:22 | 1457378 Robslob
Robslob's picture

They just bought Google with it...up 10% (53 points AH)....



Thu, 07/14/2011 - 16:25 | 1457387 mynhair
mynhair's picture

GOOG chopped heads, so buy!

Thu, 07/14/2011 - 16:23 | 1457381 Clueless Economist
Clueless Economist's picture

Looks prudent to me.  Why didn't they blow through 2 or 3 times as much.  Just think of the jobs created or saved!

Thu, 07/14/2011 - 21:40 | 1457637 TruthInSunshine
TruthInSunshine's picture

Dr. Krugman,

Would GOOGLE's CEO be wise to offshore more jobs to India, which has lower wages, but an english speaking and technically proficient labor force, especially in the IT sector?

What would John Maynard Keynes have said about this possibility, its consequences to both the U.S. and India, and to tax revenues and government expenditures?

Finally, which locale would Keynesianism hold out as the ideal place, given comparative advantages, to build a massive, 5 million square foot shovel factory, to equip the Keynesian Model worker of the future, for his/her shovel ready job?

My best guess is either in Guangdong Province, China, or Indonesia.


Thank you for your response.

Thu, 07/14/2011 - 16:24 | 1457385 mynhair
mynhair's picture

Never let children play with matches.

Thu, 07/14/2011 - 16:25 | 1457389 JW n FL
JW n FL's picture

Austerity for the Rich!


and "We the People" are the back stop and the form of payment in the event of a default! PLUS! "We the People" will pay 6% to the Federal Reserve for the Loan!


Wake Up!


When the Federal Reserve Loans Money to the United States of America! "We the People" pay / carry the interest!

Thu, 07/14/2011 - 18:11 | 1457764 flacon
flacon's picture

There is nothing wrong with being rich - it's HOW you got rich (by stealing, or did you get rich honestly) - and some of the richest people in the world are still up to their eyeballs in debt - remember when Donald Trump filed for bankruptcy a few years ago? 

Thu, 07/14/2011 - 21:56 | 1458236 ThirdCoastSurfer
ThirdCoastSurfer's picture

You're right, there is nothing wrong with being rich. 

I would however like to have someone who is rich and is Howard Beale mad over repeal of the Bush tax cuts to submit to an analysis of what they pay in taxes as compared to an analysis of the cost of the government services they use. 

It's a little hard to define what I mean, but I'm cynical enough to suggest that the madder you are, the more you are hiding. Besides, surely the rich (and I really mean business owners and their employees/staff/families) do things like fly more than average, so the cost of TSA and even airports should be considered. The rich travel overseas so the cost of protecting them, they own larger properties, drive more and live farther away so the cost of extended infrastructure should be factored in. I know there are other taxes that offset some of this, but on balance it would just be interesting to see the big picture and how it all is really distributed because figures don't lie but liars figure and the truth doesn't matter as much as perception and finding the proper spin to promote your cause.     

Thu, 07/14/2011 - 22:25 | 1458285 JW n FL
JW n FL's picture

Do you have a couple Global Expresses?

Do you have a super yacht with a sister?

Do you have trusts that hedge against each other? on and off shore?


Do you know that $20 Million net worth and under is considered middle class?


well, I think we have cleared up what is the difference is.

Thu, 07/14/2011 - 18:49 | 1457869 sun tzu
sun tzu's picture

First you need to define the rich. In California, anyone with over $46,000 of taxable income is in the highest tax bracket aka the "rich"

Thu, 07/14/2011 - 17:06 | 1457394 Sudden Debt
Sudden Debt's picture

Maybe they upgrade from Ipad 1 to 2 for every government employee?

I've heard the IPAD1 can't run the US AUSTERITY APP.

whatever. What's 90 billion in a trillion dollar world?


Did anybody see the Google revenue?

Revenue of 7,85$ per share this Q with a pricetarget of 600$?



Revenue soared 36 percent to $6.92 billion from $5.09 billion a year ago.

Analysts expected Google to earn $7.85 a share on revenue of $6.55 billion, according to Thomson Reuters.

Net income increased 36 percent to $2.51 million, or $7.68 a share.

Google shares have a had a rocky week after a downgrade by Morgan Stanley, which cut its price target on the stock to $600 from $645.


This is how the 2000 tech bubble looked like and ended:


But this time will be different off course... of course...


Thu, 07/14/2011 - 17:25 | 1457652 TruthInSunshine
TruthInSunshine's picture

What's really interesting is that there non-GAAP earnings "crushed" estimates, while their GAAP eps came in at....

....tada!!!  Estimates.

Thu, 07/14/2011 - 16:27 | 1457395 SokPOTUS
SokPOTUS's picture

Bah.  Cash is trash.  Timmay knows what Ben's been up to...

Thu, 07/14/2011 - 16:27 | 1457396 WallStreetClass...
WallStreetClassAction.com's picture

Dude, these are not linear. Look at the opening balance at the beginning of the year. Stop posting junk, please?

Thu, 07/14/2011 - 16:27 | 1457400 mynhair
mynhair's picture

"what if..."

Little TaxCheat gets a bridge loan from JPM?

If the Morgue will do it for CA, they'll do it for any bankrupt entity.

Thu, 07/14/2011 - 22:29 | 1458293 JW n FL
JW n FL's picture

what is the Bridge Attached too?


JPM may be looking at some very nice Un-Emcumbered Property on the beach on down town? but I doubt that Cali got a freebie from JP.. because JP had the loan sold before it wrote the contract.

Thu, 07/14/2011 - 16:28 | 1457405 Helena Bonham-Carter
Helena Bonham-Carter's picture

For our losses the exchequer is too poor; for th' effusion of our blood, the muster of its kingdom too faint a number; and for our disgrace, even Obama kneeling at our feet but a weak and worthless satisfaction.

Thu, 07/14/2011 - 16:46 | 1457489 slewie the pi-rat
slewie the pi-rat's picture

nice to seeya spending more time @ the fight club set!

whatever, you do, don't scream with prez0 kneeling at yer feet like that.  think what could happen!  oh!  the humanity!  LOL!

Helena Bonham Carter Remembers Peeing Herself During Harry Potter | Movieline

Thu, 07/14/2011 - 16:28 | 1457406 Hondo
Hondo's picture

They're out of control and need to be taken off the track to cool down for awhile.

Thu, 07/14/2011 - 16:32 | 1457415 mynhair
mynhair's picture

"Put down" would be a more appropriate racing term.

Thu, 07/14/2011 - 17:24 | 1457642 CH1
CH1's picture

Uh... yeah, but they don't want to, and they employ all the armed men.

Thu, 07/14/2011 - 18:08 | 1457757 Max Hunter
Max Hunter's picture

Exactly!!.. Like sex with Kobe or Ben Toothlessburger.. you can try to say no.. but.. .. but.. it's gonna happen..

Thu, 07/14/2011 - 16:29 | 1457408 Tense INDIAN
Tense INDIAN's picture

indian IT  index n nifty updates::



Thu, 07/14/2011 - 16:33 | 1457418 mynhair
mynhair's picture

Dang, didn't know those redskins had a market.  What's the listing for Firewater?

Thu, 07/14/2011 - 16:36 | 1457433 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

$90b used to be a lot of money... sadly, it wasn't too long ago.

Still the citizenry sit idle by, they will literally put up with anything. Proven 100%.

Thu, 07/14/2011 - 16:41 | 1457467 NotApplicable
NotApplicable's picture

Well, a dollar used to be money.

Thu, 07/14/2011 - 16:43 | 1457475 Sudden Debt
Sudden Debt's picture

Gold also used to be money... now it's only a tradition

Thu, 07/14/2011 - 16:42 | 1457469 Sudden Debt
Sudden Debt's picture

I only need to work about 100.000 years for that money.

If only if I where able to keep my luxery expenses like morgage, food and clothing at zero....

so make that 150.000 years give or take...

Thu, 07/14/2011 - 16:38 | 1457447 HungrySeagull
HungrySeagull's picture

If I had 90 Billion, there is no way I can spend all that in two weeks. Hell I might just use most of it to keep my county solvent and take care of the people in my area. They would spend it better than I ever can.

With that said, I might indulge in a small jet and learn how to fly it.

Thu, 07/14/2011 - 16:45 | 1457483 Sudden Debt
Sudden Debt's picture

It's only 300$ per inmate, I mean American, I mean person who lives in America.


Thu, 07/14/2011 - 16:48 | 1457497 mynhair
mynhair's picture

Lightweight.  Buy a shuttle and get the flock out of Dodge with $90 bil.

Of course then the IRS would start their own space program.

Thu, 07/14/2011 - 16:44 | 1457481 Cognitive Dissonance
Cognitive Dissonance's picture

US Treasury Burns $90 Billion In Cash In Under Two Weeks

This has got to be a Freudian slip.....right Tyler? Because they only burned cash in Wiemar Germany and recently in Zimbabwe.

Say it ain't so Tyler, say it ain't so.

Thu, 07/14/2011 - 16:50 | 1457513 mynhair
mynhair's picture

Didn't you get your $2 in the mail for the AIDS survey?

Thu, 07/14/2011 - 16:47 | 1457493 Piranhanoia
Piranhanoia's picture

They had to bail out Vulgaria, Moronica and Sylvania. They have blackmail on so many folks claiming to be born in this country.

Thu, 07/14/2011 - 21:04 | 1458140 V in PA
V in PA's picture

and  Jackoffinstan.

Thu, 07/14/2011 - 16:48 | 1457496 bugs_
bugs_'s picture

the train seems to go faster as it approaches the end of the tracks

Thu, 07/14/2011 - 17:07 | 1457584 Jimminy Christmas
Jimminy Christmas's picture


Thu, 07/14/2011 - 16:48 | 1457500 r101958
r101958's picture

90 billion = over $600 for every working person in the U.S.>>>in two weeks

Thu, 07/14/2011 - 16:52 | 1457525 Sudden Debt
Sudden Debt's picture

I don't think they spend it on working people :)


Thu, 07/14/2011 - 17:12 | 1457599 fuu
fuu's picture

Well, working girls maybe.

Thu, 07/14/2011 - 16:49 | 1457505 papaswamp
papaswamp's picture

$90 Billion or 5x's the projected revenue ($2 Trillion over 10 yrs) amount of possible revenue gained from taxing the 'wealthy' per month.

Thu, 07/14/2011 - 16:54 | 1457506 adr
adr's picture

You know if you told investors at the top of the last bubble that corporations like Lulu, Netflix, Autozone, Chipotle, and Priceline would be trading at the levels they are now, they would have said you were insane.

Can you imagine in 2007 saying, "Hey I think Priceline is a $500 stock."

Ever see the movie Fail Safe? I think a couple guys want to drop the bomb just to see what will happen. This market has inflated to a 100 Megaton warhead aimed straight at the heart of America.

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