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

Watch The Senate Tax Vote Live

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Mon, 12/13/2010 - 16:10 | 802406 Sudden Debt
Sudden Debt's picture

I wonder if they will be able to top Obama's 7 lies in 2 minutes record :)


Mon, 12/13/2010 - 16:18 | 802432 hedgeless_horseman
hedgeless_horseman's picture

I don't know about the most, but I still like to remember his first as POTUS:

January 21, 2009

"Transparency and the rule of law will be the touchstones of this presidency," Obama said.


Mon, 12/13/2010 - 16:22 | 802463 Sudden Debt
Sudden Debt's picture

my father always said: to see the truth, you have to want to see the truth.

Most people don't want to see it. So for 99% of the population, he has never lied.

Mon, 12/13/2010 - 16:28 | 802488 Cognitive Dissonance
Cognitive Dissonance's picture

Well, actually many people recognize the lies. But it's rationalized away as "normal" lies or even "little" lies. Rarely do people remain in simplistic and outright denial. There are often many twists and hoops to jump through in order to stay in denial.

Even when they say Obama hasn't lied, they're just saying this for public consumption or to deflect the rabid maniacs on the other side of the aisle. In the privacy of their homes, they admit to some lies. But Obama was forced to lie or he do so to save other more worthy programs etc. The reasons are endless and easily manufactured.

Mon, 12/13/2010 - 16:32 | 802503 Bring the Gold
Bring the Gold's picture

Yep, and thus far it's been a continuation of the rule of law and transparency we saw under bush. So what are the alternatives to R and D again?!?! >:X

Mon, 12/13/2010 - 16:43 | 802539 DoChenRollingBearing
DoChenRollingBearing's picture

CogDis!  See brand new post by Jim Quinn just put by the Tylers.

It´s all about the lies...

Mon, 12/13/2010 - 16:32 | 802506 SWCroaker
SWCroaker's picture

If you tell a lie but no one cares, it isn't a lie?   Were you part of Clinton's legal counsel?

Mon, 12/13/2010 - 16:49 | 802565 Uncle Remus
Uncle Remus's picture

Depends on what the definition of "isn't" isn't.

Mon, 12/13/2010 - 16:51 | 802569 SheepDog-One
SheepDog-One's picture

Nah the Bungler is looking at a mid 30's approval rating, he never had near 99% of the public on his best day.

Mon, 12/13/2010 - 16:44 | 802545 theXman
theXman's picture

As long as USD is still the world reserve currency, printing money is always the easiest way out, hence there will never be a serious effort to reduce the deficit.

We will get our payback in vengeance the day USD loses the reserve currency status. Expect 20% lower in living standard instantly and oil price close to $300 and gold around 5000.

Obama was not the "Change" candidate. There could never be one as long as the American people want to perpetuate the comfortable consumption-beyond-our-means easy life style. 

Mon, 12/13/2010 - 16:12 | 802410 LongSoupLine
LongSoupLine's picture

Like watching a train wreck in slow motion...and we're the passengers.

Mon, 12/13/2010 - 23:37 | 803647 StychoKiller
StychoKiller's picture

I'd rather watch Real pr0n than this make-believe garbage!

Mon, 12/13/2010 - 16:12 | 802414 TruthInSunshine
TruthInSunshine's picture

Will the DOW get tanked by the Giant Squid 770 points, for all the sheeple to see in big red digits on CNBsC, like when 'the world will end tommorrow if you don't write a blank TARP check' legislation failed the first go 'round?

Mon, 12/13/2010 - 16:19 | 802443 the not so migh...
the not so mighty maximiza's picture

We need more Bush cuts! Shave baby!

Mon, 12/13/2010 - 16:25 | 802474 Sudden Debt
Sudden Debt's picture

I've got a better plan!

For every million dollar you have, the state will match that and give you another million for free!

and for those who don't have a million, they get a extra tax of 50% on what they make to pay for it.


Mon, 12/13/2010 - 16:19 | 802445 bugs_
bugs_'s picture

They'll vote against it before they vote for it

Mon, 12/13/2010 - 16:29 | 802491 Sudden Debt
Sudden Debt's picture

I don't know. It depends on how much money the lobbyists are spending on that democratic vote.

There might as well have been a delay in the bank money transfers.

So many things could influence the outcome.

Mon, 12/13/2010 - 16:20 | 802453 Mentaliusanything
Mentaliusanything's picture

Oh Goody - I wondered why being debt free made me poor.

I shall hear from the experts - "How more debt makes you wealthy and makes Unicorns shit gold skittles"

Followed by the speach

"The only thing keeping us poor is the lack of finance" 

eddukation - brung it on brover


Mon, 12/13/2010 - 16:23 | 802470 gloomboomdoom
gloomboomdoom's picture

debt/deficits don't matter when you can print the world's reserve currency.

Bless Obama, Bernanke and Geither (soon to be remembered as saviors of the US Economy).

People will keep dooming right on out through 2012, but by then should be proven incorrect to the level there comments will be ignored and forgotten.

Stocks are cheap, folks.

Pass the extensions with renewed unemployment extensions (since we are printing money anyways)

Mon, 12/13/2010 - 16:26 | 802477 HelluvaEngineer
HelluvaEngineer's picture

I know you're a troll, but if we can just print money like magic, why not just eliminate taxes entirely?

Mon, 12/13/2010 - 16:37 | 802521 Rick64
Rick64's picture

Excellent plan and it would stimulate the economy too.

Mon, 12/13/2010 - 16:54 | 802577 SheepDog-One
SheepDog-One's picture

Right, if they can print money at will, then they can abolish all taxes as well.

Mon, 12/13/2010 - 23:40 | 803655 StychoKiller
StychoKiller's picture

Either that, or raise the minimum wage rate to $100,000/hour -- we ALL win! </sarc>

Mon, 12/13/2010 - 16:25 | 802472 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Who the fuck cares.  Dollar done.  Empire done.

Mon, 12/13/2010 - 16:28 | 802483 gloomboomdoom
gloomboomdoom's picture

nope. Dollar is holding up extremlly well even before QE. The world isn't worried about the dollar. Who is going to come collect on US debt?

Japan debt-to-GDP 200%...5% UE

US debt-to-GDP 90%... 9.8% UE

Half of Europe and Japan will need to default before the "Free Market" comes to collapses the US

Mon, 12/13/2010 - 16:34 | 802514 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Shut the fuck up troll.

Mon, 12/13/2010 - 16:46 | 802552 Rick64
Rick64's picture


Mon, 12/13/2010 - 16:59 | 802597 sagerxx
sagerxx's picture

"Half of Europe and Japan will need to default before the "Free Market" comes to collapses the US"


Ai-ight -- so I'll mark the US down for "collapses" in about 9-10 months.  

You are a *most* helpful troll!

Viva -- Sager

Mon, 12/13/2010 - 23:41 | 803660 StychoKiller
StychoKiller's picture

All it takes, is one domino to bring down this house-of-cards -- checkmate!

Mon, 12/13/2010 - 16:27 | 802479 Rick64
Rick64's picture

Some other good news : Ukraine is opening Chernobyl to tourists.  Jesus I've been waiting a long time for this.  Disney world for the poor.


Mon, 12/13/2010 - 16:31 | 802499 Uncle Remus
Uncle Remus's picture

Well, the margins on the glow-in-the-dark swag will be great for the economy.

Mon, 12/13/2010 - 16:27 | 802482 redpill
redpill's picture

Seizing less of the peoples' property is not spending.  They need to cut spending, though.

Mon, 12/13/2010 - 16:31 | 802498 samseau
samseau's picture

Even if they increased taxes, they would just compensate with more spending.

Mon, 12/13/2010 - 16:40 | 802530 Bring the Gold
Bring the Gold's picture

And even if they cut spending we'd still be fucked due to the debt. Ain't life grand?

Mon, 12/13/2010 - 16:29 | 802489 colonial
colonial's picture

a sham or a mockery of a sham...Where is the Tea Party? 

We're watching son of TARP. 

This may well be the last time the House and Senate will vote to spend money we don't have.  But if it works it will re-elect Obama. 

Mon, 12/13/2010 - 16:31 | 802501 Sudden Debt
Sudden Debt's picture

they couldn't come.

Somebody send them over 5 nympho escorts and it looks like they will be a few hours to late.

Mon, 12/13/2010 - 16:33 | 802507 gloomboomdoom
gloomboomdoom's picture

but ZH tells me the US has been bankrupt since- at the very least- 1971!

It's working! It's working!

Ben has no reason to let off the gas. I believe him when he says "No Double-DIP" and that rates can and will be raised in 15 mins.

He admits he didn't see the Housing bubble. But now he is acting like a Saint and looking out for the US. Bless his heart. What u going to do about it folks?

Congress can stop him anytime they want!

Mon, 12/13/2010 - 16:44 | 802541 traderjoe
traderjoe's picture

The US government declared BK in 1933. Look it up, Troll. 

Mon, 12/13/2010 - 16:54 | 802578 CrashisOptimistic
CrashisOptimistic's picture

Congress has no control over an independent central bank other than confirmation of governors and chairman.  That's why it is kept independent.

Oil has been $90 in two of the last three years.  This hasn't happened before.  

Unemployment has been over 9% for the last 19 months, and it's rising.

More particularly, if things were doing well, why is there a QE2?

There is a deficit over over $1 trillion and no plan in place to get under $1 trillion in the next year.  This will add to 15+ trillion debt -- which at just 5% would be 750 billion in annual interest.  That's more than we pay to defend the country.  DoD, including overseas contingent operations is < $750B/yr.  How will this be paid?  Ever?

House prices are down 40% from their high and falling, and this represents the bulk of Americans' net worth.  When is this coming back?

What's going well?  The stock market is up, measured in dollars.  Earnings are up, measured in dollars, for companies with sales overseas.  What else is up?  And please, be sure the definition of up is provided in comparison to 2007, in real terms, and in terms of population growth since then.


Mon, 12/13/2010 - 16:55 | 802582 SheepDog-One
SheepDog-One's picture

Shut the fuck up, troll.

Mon, 12/13/2010 - 16:59 | 802593 gloomboomdoom
gloomboomdoom's picture

Mike Pence (Republican) is ready to pass a bill to remove the FED's mandate for Full Employment (along with the renewal of the FED charter).

Once this passes, interest rates will rise and the doom will be completely behind us.

Mon, 12/13/2010 - 17:03 | 802609 SheepDog-One
SheepDog-One's picture

Shut the fuck up, babbling troll.

Mon, 12/13/2010 - 18:20 | 802827 merehuman
merehuman's picture

is this your way of replacing "gold bitches"



Mon, 12/13/2010 - 23:44 | 803669 StychoKiller
StychoKiller's picture

Newly-elected Representatives and Senators DO NOT get seated until sometime in January -- didn't learn much in American History, did you?

Mon, 12/13/2010 - 16:30 | 802493 Mad Mad Woman
Mad Mad Woman's picture

I don't want to watch it. Washington makes me sick at this point. Fuck them all.

Mon, 12/13/2010 - 16:33 | 802511 Sudden Debt
Sudden Debt's picture

it's a good way to cure yourself when you feel constipated.

Mon, 12/13/2010 - 16:55 | 802554 DoChenRollingBearing
DoChenRollingBearing's picture

LOL Belgium!  + 100

But Mad is right.

We are so screwed.  It matters not whether Europe goes down the toilet before we do or not.  Same destination for us all.

Mon, 12/13/2010 - 17:02 | 802601 Sudden Debt
Sudden Debt's picture




Mon, 12/13/2010 - 17:09 | 802630 DoChenRollingBearing
DoChenRollingBearing's picture

If you are right, that I means it will hurt a bit less for me when I land on you!

Oh, but then the next one will land on me...




Mon, 12/13/2010 - 16:43 | 802540 Uncle Remus
Uncle Remus's picture

Fuck 'em all, fuck 'em all
The longs and the shorts and the gall
Fuck all the banksters and lobbyist ones
Fuck all the elitists and their blinking sons
For we're saying "Fuck you!" to them all
As back to their estates they crawl

You'll get no satisfaction without taking some action
So cheer up my lads hang'em all

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