Debt Ceiling

GoldCore's picture

Worlds Largest Debtor Ever Raises U.S. 'Debt Ceiling' ... Again





"The truth is, the debt ceiling doesn’t actually limit government spending. It’s a farce. Every time government debt gets close to the debt ceiling, Congress just raises it.”

 
Tyler Durden's picture

The Most Devious Liars In The Room





There were a few different stories coming out over the last few days that reveal the true nature of government and the apparatchiks who use disinformation, devious machinations, fraudulent accounting, and taxpayer money to cover up their criminality, lies, and the true state of the American economy. The use of government accounting tricks to obscure the truth about our dire financial straits is designed to keep the masses sedated and confused.

 
Tyler Durden's picture

162 Days Later, The Treasury Finally Updates The Total US Debt Number, And It Is...





8 months later, the US Treasury finally provided an update to the latest US debt number, and here it is: as of this moment, official US public debt is $18,492,091,120,833.99, or 102.5% of GDP.

 
Tyler Durden's picture

"Shocking And Incredible": IG Slams DOD For "Having No Knowledge" About $800 Million Program





By now most have heard of the infamous gas station in Sheberghan, northern Afghanistan which "cost" the U.S. Department of Defense nearly $43 million to "build."As it turns out this was nothing.  As the IG notes, somehow the Department of Defense lost all track and knowledge of a "reconstruction" program that amounted to a whopping $800 million...

 
Tyler Durden's picture

How The Fed Has Backed Itself Into A Corner





The Fed is weighing the negative consequences of a strong dollar on corporate profits vs. unleashing inflation on the electorate, pressuring long term interest rates. We will soon see which negative scenario they favor and why.

 
Tyler Durden's picture

The Power Of Fear & The Gullibility Of The Masses





It was 77 years ago this week that Orson Welles struck terror into the hearts of Americans with his live radio broadcast of the HG Wells classic War of the Worlds. What struck me while watching the PBS retrospective were the similarities between then and now. The gullibility of the masses, the power of fear, the overreaction by the media, busy bodies calling for the government to do something, and the effectiveness of propaganda are all commonalities between that Fourth Turning and today’s Fourth Turning.

 
Tyler Durden's picture

The Debate: GOP Candidates Elevated, CNBC Eviscerated





On Wednesday morning a new national poll revealed that 54% of Americans rate the economy as 'poor', but instead of focusing oin that, Becky Quick quizzed Marco Rubio about his 'lack of bookkeeping skills,' Carl Quintanilla posed questions about homosexuality and fantasy football, and the astonishingly incompetent John Harwood expressed doubt about Donald Trump's 'moral authority.' The interaction between the candidates and the CNBC moderators revealed the yawning gap between the bubble world at the intersection of Washington and Wall Street and the hard scrabble reality of economic stagnation and political alienation on main street America.

 
Tyler Durden's picture

GOP Debate III: The Battle Of Boulder Begins - Live Feed





It's that time again. From 'jolted' Jeb to 'cool' Carly and from 'calm' Carson to 'turmoiling' Trump, for some of the GOP presidential nominee candidates, tonight could be the last hoorah in a campaign that has seen apolitical entrants dominate the mainstream Washington muppets. Moderated by John "I never met a Republican I didn't like" Harwood, we are sure there will be some tension as the "general health of the economy" planned focus may morph into any and everything as the debate pushes beyond two hours. Please watch responsibly...

 
Tyler Durden's picture

Runaway Blimp "Has Been Secured" After Leaving 18,000 Without Power





The exciting, if brief, life in the wild by the untethered JLENS blimp has come to a crashing halt. Moments ago, Norad told AP reported that the blimp is "on the ground and secure."

 
Tyler Durden's picture

Good Riddance To Johnny Lawnchair: The Fastest Fold On The Potomac





There are few political hacks in Washington more deserving of everlasting ignominy than retiring speaker John Boehner. So here’s a vehement good riddance to the man who has single-handedly destroyed whatever pathetic semblance of fiscal responsibility that remained in Washington.

 
Tyler Durden's picture

Markets On Hold Awaiting The Fed's Non-Announcement As Central Banks Ramp Up Currency Wars





We would say today's main event is the culmination of the Fed's two-day meeting and the announcement slated for 2 pm this afternoon, however with the 90 economists polled by Bloomberg all expecting no rate hike, today's Fed decision also happens to be the least anticipated in years (which may be just the time for the Fed to prove it is not driven by market considerations and shock everybody, alas that will not happen). And considering how bad the economic data has gone in recent months, not to mention the recent easing, hints of easing, and outright return to currency war by other banks, the Fed is once again trapped and may not be able to hike in December or perhaps ever, now that the USD is again surging not due to its actions but due to what other central banks are doing.

 
Tyler Durden's picture

Why A Russian Default Is A Very Real Scenario In 2016





Who holds the majority of the debt that would be at risk in a Russian default? Not China.  Not Iran.  Not Syria.  No, it’s the exact same nations, and banks and funds within those nations, that are applying the sanctions against Russia. So, if Russia does default, what does it mean in terms of its political relationship with the West? Nothing. But what does it mean to its creditors? Everything... Simply put, if Putin believes that the benefits of a default outweigh the consequences to his country, he won’t hesitate to do it, no matter the international ruckus it might raise.

 
Tyler Durden's picture

Boehner On Debt Ceiling Deal: Process "Stinks" But Alternative Was Default





Today, as we previewed last week, we got just the deal we envisioned.  Which leaves us only with the soundbites, such as this one moments from from John Boehner.

BOEHNER SAYS AGREES WITH RYAN THAT PROCESS THAT PRODUCED BUDGET DEAL "STINKS"; BUT ALTERNATIVE WAS CLEAN DEBT CEILING HIKE OR DEFAULT

And as Boehner's last act, he now has the honor of telling the US public that its latest and greatest debt target has just been increased to just shy of $20 trillion.

 
Tyler Durden's picture

As China 'Buys Low' To Build SPR, Washington Forced To Sell Strategic Crude To Meet Budget





The signs of regime change are everywhere. From embarrassment by Russia's success in Syria to China's creation of its own 'World Bank' and SWIFT alternative, the trend of de-empirization are growing, but tonight's news that Washington will sell oil from its strategic reserve in order to meet budget constraints and avoid default (as China takes advantage of low prices to build its own reserves) is simply stunning in its analogy of the shifting world order.

 
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