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Who Said It?

Tyler Durden's picture





 

It really never gets old...

Date: March 16, 2006

Place: Senate Floor

Speech:

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.

 

Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion.That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.

 

Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.

 

And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.

 

Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.

Fast forward to today, when the same senator, now president, is openly threatening with using a veto to impose his will on raising the debt ceiling over that of what, at least according to the Congress, is still the majority of Americans.

So much changes in 6 years indeed...

 


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Wed, 12/05/2012 - 12:29 | Link to Comment Manthong
Manthong's picture

B O

Wed, 12/05/2012 - 12:29 | Link to Comment Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Pee Yew !

Wed, 12/05/2012 - 12:35 | Link to Comment TruthInSunshine
TruthInSunshine's picture

  Forward!*  

*An additional 7.5 trillion USD of debt in the last 5 years and 10 trillion USD of debt since that passionate speech was given.

 

Wed, 12/05/2012 - 12:48 | Link to Comment prains
prains's picture

The debt ceiling is not going down anytime soon even if you slash and tax everything, it's still not enough to cover the costs ergo....debt ceiling must go up. This is not one mans fault or just leadership, look in the mirror you are just as much to blame for the system you partake in.

 

silence is tacit agreement, how many of you were silent about the phony war in Iraq that cost you trillions in stolen and looted money by Rumsfeld/Cheney Corp. I would say all because you let it happen. Real change first takes overcoming the force of inertia, nothing happens until then.

Wed, 12/05/2012 - 12:52 | Link to Comment AlaricBalth
AlaricBalth's picture

 

 

The fact that we are here (AGAIN) today to debate (AD NAUSEUM) raising America’s debt limit is a sign of (MY) leadership failureIt is a sign that the U.S. Government (STILL) can’t pay its own bills. It is a sign that we now (CONTINUE TO) depend on ongoing financial assistance from (THE FEDERAL RESERVE, WHO WILL CONTINUE TO PRINT E-DOLLARS UNTIL THE CURRENCY IS DESTROYED) to finance our Government’s reckless fiscal policies.

 

Fixed it for him.

 

 

 

 

 

 

 

 

 

Wed, 12/05/2012 - 13:02 | Link to Comment Richard Chesler
Richard Chesler's picture

Banksters' puppets don't really count as "leaders".

Wed, 12/05/2012 - 13:51 | Link to Comment cranky-old-geezer
cranky-old-geezer's picture

 

 

Yep, just like the bankster puppet Bernanke who said in 2002 we must keep USD printing low to maintain its value. 

That was back when the money supply was aorund $2 trillion. 

Now it's $10 trillion, and he's printing $250 billion a month, $3 trillion a year ...that they admit, no telling how much more they don't admit.

It wouldn't surprise me if USD money supply is $50 trillion now, $40 trilllion of it "off balance sheet".

The real cliff is currency collapse, not debt.  Printing trillions of dollars every year  to fund hemorrhaging debt will prevent default.   We'll see hyperinflation and currency collapse instead.

Rating agencies don't consider currency printing and debasement in making their ratings.  They don't give credit ratings to central banks.   It would be meaningless since CBs can print currency at will.  

They just look at ability to service debt.  When the govt and central bank are joined at the hip, servicing debt is no problem, just print more currency, so the govt gets AAA rating.   

Yes, you can have AAA rating right up to the day the currency collapses and the debt is worthless.

America is Zimbabwe 2.0

Wed, 12/05/2012 - 14:04 | Link to Comment economics9698
economics9698's picture

NWA in the WH.

Wed, 12/05/2012 - 14:56 | Link to Comment MillionDollarBogus_
MillionDollarBogus_'s picture

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. (Reagan raised it 18 times over 8 years.  He also raised taxes 7 of those 8 years)

It is a sign that the U.S. Government can’t pay its own bills. (this is nothing new)

It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. (you neglected to mention that Bernanke is forced to buy treasury debt.  His 1st priority is to keep debt interest rates as close to zero as possible.  His 2nd priority is to make sure there is a line of buyers, auction after auction)

Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion.That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. (yawn...)

And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion. (more yawn...)

 

Wed, 12/05/2012 - 15:11 | Link to Comment redpill
redpill's picture

They better not get rid of the ceiling, these petty debates over it make for great drinking games.

Wed, 12/05/2012 - 15:35 | Link to Comment ArkansasAngie
ArkansasAngie's picture

It's just another cold day in hades.

Wed, 12/05/2012 - 14:57 | Link to Comment Popo
Popo's picture

The problem is that in the USA there *is no party of fiscal conservatism*.   The Republicans and the Democrats are both debt-creating, fiscally irresponsible parties.  

If the Republicans were really interested in cutting spending the solution is very simple:   Just stop debating and go home.    Because letting the country go 'over the cliff' is the ultimate way to cut spending instantly.  

This morning on WSJ Live there was a Republican hack saying "Yeah, but if we do that then we'll be the bad guys".   But wait, Mr. Republican cheesedick, doesn't that make you a populist Democrat?   If both parties are beholden to the same group of "We'll be mad if we don't get our free shit" voters, then what are these things we call "parties" again? 

 

Wed, 12/05/2012 - 15:06 | Link to Comment Tsunami Wave
Tsunami Wave's picture

Democrats = Tax and Spend

Republicans = Borrow and Spend

Both Parties = Print money and Spend

 

Any questions?

Wed, 12/05/2012 - 14:50 | Link to Comment Winston Churchill
Winston Churchill's picture

Quite so.As in those RMBS bonds;AAA to ZZZ in a month.

The question is ; How long will the rest of the world put up with the

US exporting inflation to them via endless money printing ?

The Arab Spring was way more about food inflation than freedom,

however the MSM mis characterises it.

Wed, 12/05/2012 - 12:59 | Link to Comment Dr. No
Dr. No's picture

The debt ceiling is not going down

 

I dont think anyone has even broached the idea of reducing the Debt Ceiling but a tip-of-the-hat to you for exceeding expectations.

Wed, 12/05/2012 - 13:10 | Link to Comment TruthInSunshine
TruthInSunshine's picture

In KronyKomradeKapitalist Amerika, Debt Ceiling goes down on you!

Wed, 12/05/2012 - 14:02 | Link to Comment forwardho
forwardho's picture

I can't believe you were juncked.

To not speak... screams volumes.

To not stand... is to lay down your rights.

To do nothing even though you see... is to accept responsibility.

Action or inaction both carry consequences.

Wed, 12/05/2012 - 14:11 | Link to Comment venturen
venturen's picture

Prains...how many people realizes that Clinton dismantling the CIA in 1990's would have repercussions?

Wed, 12/05/2012 - 14:36 | Link to Comment Missiondweller
Missiondweller's picture

"silence is tacit agreement"

 

Yes, but when the Tea Party spoke out they were called racist and hate mongers weren't they?

Who's responsible for that?

 

 

Wed, 12/05/2012 - 14:48 | Link to Comment A Lunatic
A Lunatic's picture

Sticks and stones, bitchez. Borrow a set of balls if you have to, but do something, anything, that moves forward in any direction other than the status quo............

Wed, 12/05/2012 - 15:01 | Link to Comment GernB
GernB's picture

At this point, I think we are passed the point of having a choice in what happens. Either we choose to be responsible or markets will force us to be responsible. This is what is happening en Europe. They keep trying to find ways to avoid living within their means, but they are running out of road down which to kick that can. When the do run out of road, markets will price their debt as junk and, unable to borrow, they will be forced to live within their means, declare bankruptcy, or destroy their currency.

Wed, 12/05/2012 - 12:42 | Link to Comment Zer0head
Zer0head's picture

With the US government facing its worst budget crisis in a generation and the whole nation in a tizzy over how to reduce the $16tr (£10tr) national debt, the Obamas have decided to lead from the front this holiday season – by ordering a mere 54 Chrstmas trees.

 

http://www.guardian.co.uk/world/2012/dec/03/michelle-obama-white-house-c...

 

I'm actually Christmas trees are even permitted

Wed, 12/05/2012 - 21:58 | Link to Comment tsx500
tsx500's picture

^shocked

Wed, 12/05/2012 - 12:43 | Link to Comment fonestar
fonestar's picture

Forward to:

 

Obamaville, GENERAL DELIVERY (second blue coleman tent near latrine).

Wed, 12/05/2012 - 14:12 | Link to Comment bagehot99
bagehot99's picture

The key to success is sincerity. If you can fake that, you've got it made.

Never, ever listen to what Obama says. It is meaningless. Watch what he does. He is a disciplined radical, who says what is neccessary to move the revolution forward.

His words are verbal confetti.

Wed, 12/05/2012 - 14:35 | Link to Comment Keyser
Keyser's picture

Can't we all just get along and rise above!!! If I hea one more slogan, I think I'm going to puke. 

 

Wed, 12/05/2012 - 14:55 | Link to Comment Winston Churchill
Winston Churchill's picture

Appropos.Scum, and puke rise above.

Wed, 12/05/2012 - 12:33 | Link to Comment Unprepared
Unprepared's picture

Yeah? But his index was pointing to the horizon when he said "The buck stops here".

Wed, 12/05/2012 - 12:41 | Link to Comment Abiotic Oil
Abiotic Oil's picture

Frank Marshall Davis Jr.

Wed, 12/05/2012 - 12:47 | Link to Comment Chupacabra-322
Chupacabra-322's picture

News Flash:

Hello!  We're already broke ass broke and over the cliff about to spalt.  Not to mention the DEPRESSION we're in. 

Wed, 12/05/2012 - 13:00 | Link to Comment Grinder74
Grinder74's picture

BUCK FARACK

Wed, 12/05/2012 - 13:51 | Link to Comment Clayton Bigsby
Clayton Bigsby's picture

Fuck you Obama...

Wed, 12/05/2012 - 14:00 | Link to Comment sbenard
sbenard's picture

But things are different this time. After all, he's now the Dictator of Debt!

Wed, 12/05/2012 - 14:20 | Link to Comment Falkor
Falkor's picture

IS there a video of this speech?

Wed, 12/05/2012 - 14:56 | Link to Comment Bawneee Fwank
Bawneee Fwank's picture

Congressional Record 109th Congress Pages S2237-S2238

http://thomas.loc.gov/cgi-bin/query/F?r109:1:./temp/~r109aw0PtY:e8114:

I could not find any video.

Wed, 12/05/2012 - 22:00 | Link to Comment tsx500
tsx500's picture

imagine that !

Wed, 12/05/2012 - 15:05 | Link to Comment wagthetails
wagthetails's picture

How truly awesome would it be if some senator walked up to the podium and read this speech, word for word.  No intro, no commentary....just start reading.  then drop the mic and walk out. 

Wed, 12/05/2012 - 22:04 | Link to Comment tsx500
tsx500's picture

I've got a boehner just thinkin' about that !

That would make my year.

Wed, 12/05/2012 - 14:56 | Link to Comment RmcAZ
RmcAZ's picture

"Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities."

As soon as he became President, he figured out that he didn't have to take one dollar from HERE and put it THERE. He figured out that he can work with Bernanke and print dollars, so he can have a dollar here AND there. Simple really.

Wed, 12/05/2012 - 12:29 | Link to Comment Cursive
Cursive's picture

The O'Bammer!

Wed, 12/05/2012 - 12:32 | Link to Comment Hippocratic Oaf
Hippocratic Oaf's picture

It's out of control.

No turning back.

Wed, 12/05/2012 - 12:30 | Link to Comment Dr. Engali
Dr. Engali's picture

The crimminal dictator wanna be Obummer.

Wed, 12/05/2012 - 12:35 | Link to Comment fonzannoon
fonzannoon's picture

Speaking of who said it.....Whoever said this please come out and claim some credit for the most accurate post (my opinion) in the history of ZH. It never gets old. Sorry I did not save your screen name with it.

"Hope you didn't put much money on that bet, Dawg. These fuckers are going to print hard enough to wake the dead. They'll print like mo'fos, print like mad men, print like fly pimps. Print until their eyes bleed. They will print via the swaps, via bank bailouts and mergers, via fixed Treasury yields, via real honest-to-God negative interest rates, via loans to banks on no collateral, via payroll tax reductions, and in the end via actual fiat paper instruments which they might very well drop in bails from actual mutherfucking helicopters. They will not give two figs what anyone thinks. Here is why. Because this is the Goddamned end of it my friend. There is no accounting beyond this point. There will be no history of it. No one to take notes of rates of exchange, or of the graft and violence, nobody to worry about the deficit or the GDP or the national debt of any nation large or small under the blazing Goddamned sun. End. Of. It. Does anyone bitch about how Rome totally debased their coinage at the end? Hell no. But whoever did it had enough to hand and grabbed some land with a nice vineyard and sat back and waited for the Middle Ages to start 700 years further on. And that's what a singularity is about. Anything that passes through is striped of all meaning. Nothing we think is important now will remain so beyond the event horizon. Nobody will remember, nobody will write about it, nobody will be held to any standard. Ever for evar. So yeah, they'll print like the mad crazed terrorists they are. Because they have nothing to lose, and maybe something to gain. Maybe a dollar. Maybe a day. Maybe a slim chance to escape with some of the loot. Whatever the fuck advantage they see in it, for themselves and their elite crap wanking buddies, they will full-on-full-time-fucking do it to advantage. Watch for it, Dawg. It's totally on this time, on like Donkey Kong. And when the dust is settled in a generation hence it's going to have become another unbelievable episode among the ages of men."

Wed, 12/05/2012 - 12:40 | Link to Comment Dr. Engali
Dr. Engali's picture

I was just thinking about that post  a few days ago. I almost mentioned something to you but got caught up with work or something else ridiculous like that.

Wed, 12/05/2012 - 12:44 | Link to Comment fonzannoon
fonzannoon's picture

I am almost waiting for gravity to cease right now. They are actually trying to bend the laws of physics, and succeeding. Precious metals should be up massively and the dollar should be spiraling off to confetti. This is fascinating.

Oh yeah, GS sees growth next year, i forgot. My bad.

Wed, 12/05/2012 - 12:48 | Link to Comment CH1
CH1's picture

I am almost waiting for gravity to cease right now.

The suspension of reality continues. It is almost sickening to behold.

Wed, 12/05/2012 - 12:57 | Link to Comment stormsailor
stormsailor's picture

precious metals are not up, because no /dx currency is tied to them.  and the price can be manipulated by an entity that has a trading account balance to infinity.

Wed, 12/05/2012 - 13:22 | Link to Comment jimmyjames
jimmyjames's picture

precious metals are not up, because no /dx currency is tied to them.

************

What kind of stupid comment is that?

When the price of wheat goes up-is it because some currency is tied to it?

Wed, 12/05/2012 - 17:20 | Link to Comment Crabshacker
Crabshacker's picture

I thought it was because snap and ebt were  tied to it..

Wed, 12/05/2012 - 15:41 | Link to Comment prodigious_idea
prodigious_idea's picture

But how long can PMs be manipulated?  Shouldn't prices drop hyperinflation?  And where does the hyperinflation phase fit into the (imminent?) currency collapse event?  If PM prices collapse during the hyperinflation phase, isn't that the time to go all-in?  Otherwise, what's the optimal all-in point?

Wed, 12/05/2012 - 16:11 | Link to Comment SilverRhino
SilverRhino's picture

When China has acquired enough of the shiny stuff and they have enough weapons to beat off the US Navy, they will announce a new currency (non-redeemable for fiat) and then ultra fuck the USA.   

Sucks but its coming. 

Wed, 12/05/2012 - 13:55 | Link to Comment eclectic syncretist
eclectic syncretist's picture

The Fed was created to print, and print it will continue to do until such time as it no longer exists. 

Wed, 12/05/2012 - 16:54 | Link to Comment Cathartes Aura
Cathartes Aura's picture

the Fed prints, and the IRS collects - there's your corporate nationstate model.

pedal to the metal.

Wed, 12/05/2012 - 12:46 | Link to Comment dolph9
dolph9's picture

Yeah, this is what is meant by "deficits don't matter."  Espoused by both Cheney and Krugman, lest you think it's limited to one political side or another.

They don't matter because, well, nothing matters.  Nothing is sustainable.  The goal is to grab as much wealth as you can before you "retire" and then leave the next generation as the bagholders (should they choose to accept it).

Wed, 12/05/2012 - 12:51 | Link to Comment Eumaeus
Eumaeus's picture

The author was (apparently) cougar_w.

http://www.zerohedge.com/news/guest-post-big-print-coming

 

Wed, 12/05/2012 - 13:09 | Link to Comment XitSam
XitSam's picture

Yes. Direct link to comment.

Stupid serial junker.

Wed, 12/05/2012 - 13:31 | Link to Comment Debt-Penitent
Debt-Penitent's picture

An amazing, heartfelt comment.   More people should be so pissed, but they aren't. 

 

Apathy reigns.

Wed, 12/05/2012 - 13:25 | Link to Comment Bay of Pigs
Bay of Pigs's picture

Yeah, he was referring to Sheep Dog One's comment that they (FED) wouldn't print.

Cougar has obviously been proven correct on that. 

 

Wed, 12/05/2012 - 13:30 | Link to Comment fonzannoon
fonzannoon's picture

Thanks guys, looks like that was Couger.

Wed, 12/05/2012 - 14:39 | Link to Comment cougar_w
cougar_w's picture

Yop, that was me.

Thanks for keeping the flame alive. I don't bother keeping track anymore, it comes out all in a rush and is gone as quickly. Someday I'll be just another one of the refugees plodding along in that long line that leads to the promised land.

~ coog

Wed, 12/05/2012 - 15:26 | Link to Comment Bay of Pigs
Bay of Pigs's picture

+1

LOL. and jangling a few coins...

Wed, 12/05/2012 - 12:52 | Link to Comment CH1
CH1's picture

That WAS epic.

Does anyone know who originally posted that?

Wed, 12/05/2012 - 13:33 | Link to Comment resurger
resurger's picture

yeah! +1 to cougar_w & Fonza & ZH

Wed, 12/05/2012 - 14:07 | Link to Comment CH1
CH1's picture

Thanks!

Multiple plusses to cougar!

Wed, 12/05/2012 - 14:14 | Link to Comment forwardho
forwardho's picture

fonz, That was an awsome post. Frustration bleeding from every point made.

Wed, 12/05/2012 - 14:17 | Link to Comment fonzannoon
fonzannoon's picture

It was all Couger.

Wed, 12/05/2012 - 14:32 | Link to Comment Brit_Abroad
Brit_Abroad's picture

Hi Fonz

If I could give you a Trillion green ups for this I would.

Thanks for putting it all into perspective

Wed, 12/05/2012 - 14:34 | Link to Comment fonzannoon
fonzannoon's picture

Lol, I cut and pasted it and saved it. That was about it. Thank CougerW and the poster above who was able to identify him.

Wed, 12/05/2012 - 14:59 | Link to Comment Lin S
Lin S's picture

Never saw this before but man oh MAN, what a ROCKIN' quote!!!

Thanks for (re-)posting it...

 

Wed, 12/05/2012 - 15:05 | Link to Comment TheSettler
TheSettler's picture

Here is a classic that I copied and saved years ago from by chindit13
on Tue, 02/16/2010 - 19:49
#233288

 

 

While violence may not be the answer, the only other seeming alternative is quiet acceptance. That acceptance comes in the form of blogging and commenting and voting, which in the end are merely a form of catharsis.
I enjoy this site for its intellectual stimulation and I am continually impressed with the energy and passion Tyler et al bring to it. What they are doing is astonishing, but in the end I cannot help but think it is the equivalent of a grad student working feverishly on his or her doctoral thesis.
Two years into this financial debacle and the only thing that has changed is that the ones most responsible and closest to the problem have benefitted the most; in fact many have done far better than they would have had we not had this crisis. Bankers have been well paid for messing up, and have been allowed to keep everything they "earned" that actually turned out to have been false profits.
Punished have been the savers and the debt free, or at least the financially responsible. Rewarded have been the spendthrifts, the heavily indebted, the incompetent, the corrupt, and those who threw gas on the fire.
How many arrests have we seen? Is there not a single act that should at least merit a real investigation, save for some Russian immigrant's purloining of source code that "has the potential to manipulate markets in an unfair way", but which is supposedly the legal property of a firm We the People are required to save at any and all cost?
New regulation was gutted and emasculated, all at the behest of lobbyists. Accounting rules have been altered so as to make accounting meaningless other than to be used as a means to hide, rather than reveal truths. Senior government officials have blocked the release of pertinent shareholder information and have altered the pecking order in the bankruptcy laws that used to be at the heart of the capitalist system. An accountable-to-no-one Central Bank has taken on untold burdens for the US Taxpayer that not even this supposed democracy's elected officials are privy to know, much less the citizens. Efforts to uncover what we will be taxed to pay for---directly or via orchestrated inflation---are forever held up in the courts. Records relating to the most significant taxpayer bill to date have been marked "Secret for Reasons of National Security" and locked away until 2018.
Democracy is the answer? As in 99% of the American people being against TARP? There is far more chance of real democracy on American Idol.
Have any rules been changed in a way to obviate the possibility of a similar debacle recurring in the future? Is "the System" safer or less safe than it was in 2006? The fact is that anything that might have immunized the system in any way from the disease that afflicted it has been carefully and painstakingly removed, so that in all future instances---WHEN they occur---the burden will again fall on the innocent. We have almost constitutionalized Too Big to Fail and Moral Hazard. We have certainly funded it.
We have come as close to Taxation without Representation as we were in 1775, yet we are told to work within a system that has most assuredly failed us and is far too broken to offer a real solution.
So we write. We blog. We call attention to a sleeping SEC and FINRA and Justice Department. We call and write our Congresspeople, just as some of us did BEFORE the collapse. We are ignored now as we were ignored then. I'll make a bet and say we will be ignored tomorrow, too, no matter how many great articles we write, no matter how loud a second rate cable TV station allows us to scream, no matter how often we protest, and no matter whom we choose to vote for.
We live in a system fine tuned to ignore us, but which allows us an outlet or two from which we can let off steam. We are patronized by those who have the audacity to say they are doing things we could not possibly understand but which are for our own good, because the system---whose system?---was just so close to collapse.
We are treated as children and fools. And we are fools if we think that anything we do can make this system change. Our vote is a drug that is useless, because the cancer has metasticized beyond the point of cure.
Like many here I will not go quietly into the night. I will not go down without a battle. I will vote for anyone who has not been a part of this charade, and demand to know the leanings of anyone seeking office who wants my vote. I will (have) pull my wealth away from those who abused the trust of the people and who used my money only to enrich themselves. I will not suffer the fools who have bought the party line and are naive enough to believe our elected officials are working in the interests of the majority.
In the end, though, I hold out little hope. If there is a real solution, other than passion and energy, I have not found it.
Today in Athens maybe someone thought they found another solution. Probably there are people within the US who will try the same solution. I do not condone it, but I understand the frustration. I feel it myself from time to time. I fear that whatever self restraint I may possess---and I do not know how deep it goes---may not be possessed by all of my fellow citizens.
There is a breaking point, and we may well be there. Those who caused the problem and those who have benefitted from the inequitable solution are just as blind and deaf and self-serving as they were in 2002-2007, yet I fear they may have remained so a day too long.
Those who have control and authority have very little time left to act. They have very little time left to show contrition, to share the burden, to make the system more fair, to make the system more transparent and accountable, and to make the system less vulnerable to a repeat. Or they can continue to obstruct, to hide, to transfer wealth from the innocent to the guilty and/or powerful, and loot all they want believing they can get away a day ahead of the coming maelstrom. Maybe this small and violent act today is a clarion call. Maybe it is a harbinger of things to come.
Whatever it is, it is ignored at EVERYONE's peril.

Wed, 12/05/2012 - 15:34 | Link to Comment Dr. Engali
Dr. Engali's picture

Great post thanks for saving it.

Wed, 12/05/2012 - 15:20 | Link to Comment Common_Cents22
Common_Cents22's picture

It's true, the host has been bled to death by the blood suckers.   At some point you'd think the blood suckers would want to keep the host alive, but there is nobody in charge, its every man for himself grabbing what he can with no accountability or retribution,  See Jon Corzine.

Get some while you can.   There will be no justice in the current system, just Darwinian punching of the reset button.  When it comes, it will be hard and fast.  

 

similar to the story about the scorpion needing to get across the river, catching a ride w/ the frog.   Stings the frog half way across, as they both drown, when asked why, the scorpion says its just my nature.

 

 

Wed, 12/05/2012 - 20:52 | Link to Comment Clycntct
Clycntct's picture

And I thought he was gonna say I can't swim.

Wed, 12/05/2012 - 14:14 | Link to Comment NoDebt
NoDebt's picture

The criminal dictator Obummer.

Removed the "wanna be" part and fixed it for ya.

And since they know now know they got this thing covered they can gloat a little by blatantly doing exactly what they railed against just a few years ago.  That's Obama LAUGHING at all of us while he shoves it in.  Reminds me of the lyrics....

"They stick it in your face and let you smell what they consider wrong.  That's why I say 'hey man, nice shot.'"

Wed, 12/05/2012 - 12:30 | Link to Comment kliguy38
kliguy38's picture

Say it aint soooo O.

Wed, 12/05/2012 - 13:02 | Link to Comment Grinder74
Grinder74's picture

Long live the Dark Side!

BUCK FARACK

Wed, 12/05/2012 - 12:30 | Link to Comment Tsunami Wave
Tsunami Wave's picture

Barry Choomwagon didn't say that.. someone else gave him help along the way!

Wed, 12/05/2012 - 12:41 | Link to Comment TBT or not TBT
TBT or not TBT's picture

Barry didn't build that.

Wed, 12/05/2012 - 12:49 | Link to Comment CH1
CH1's picture

Barry Choomwagon didn't say that.. someone else gave him help along the way!

Yup, it was the teleprompter.

They don't call him TOTUS for nothing.

Wed, 12/05/2012 - 12:34 | Link to Comment Mike Cowan
Mike Cowan's picture

Hard too believe it's the same man . . . well not really. It's only words . . . 

Wed, 12/05/2012 - 12:53 | Link to Comment SelfGov
SelfGov's picture

"Words are wind."

Wed, 12/05/2012 - 12:30 | Link to Comment FL_Conservative
FL_Conservative's picture

The same dirt bag that wants to eliminate the cap on national debt for good.  What's a little hypocrisy amongst friends?

Wed, 12/05/2012 - 12:37 | Link to Comment caconhma
caconhma's picture

Who cares about eliminating the cap on national debt for good. These all numbers are bogus anyhow.

Runaway spending will continue until a runaway inflation will stop it.

Wed, 12/05/2012 - 12:30 | Link to Comment fonzannoon
fonzannoon's picture

damn flip flopper

Wed, 12/05/2012 - 12:32 | Link to Comment darteaus
darteaus's picture

Barry Soetoro['s teleprompter]

Wed, 12/05/2012 - 12:32 | Link to Comment lolmao500
lolmao500's picture

Yeah but the republicans alone crashed the economy! Obama is fixing it!

/this is what Obamabots believe

Wed, 12/05/2012 - 12:43 | Link to Comment Tsunami Wave
Tsunami Wave's picture

I used to go out there, and correct person by person everyone I knew (people in their mid 20s) who really believed that nonsense.  Then I realized that was basically impossible to convince everyone since those people are so indoctrinated... so now I have given up :\  We are so freaking screwed.. it's just unbelievable and sad.

Wed, 12/05/2012 - 12:54 | Link to Comment Radical Marijuana
Radical Marijuana's picture

I am forced by FACTS to totally agree, Tsunami Wave!

Wed, 12/05/2012 - 19:22 | Link to Comment Lednbrass
Lednbrass's picture

Sad indeed, the best hope for the future is that the whole mess crashes and burns and most of those you mention burn with it.

Wed, 12/05/2012 - 12:32 | Link to Comment Lost Wages
Lost Wages's picture

To be a politician, you say what the people want to hear, then do as the puppetmaster desires. All hail CFR. All hail Rockefeller. Thank Odin for rulers who are willing to assrape their mules to provide Globalist snakes with a Rich Man utopia.

Wed, 12/05/2012 - 12:33 | Link to Comment stinkhammer
stinkhammer's picture

Barry, suck a dick for a line of coke, Sorteoro

Wed, 12/05/2012 - 13:05 | Link to Comment lakecity55
lakecity55's picture

+50

Wed, 12/05/2012 - 12:33 | Link to Comment john_connor
john_connor's picture

BO was "reset" by the Adjustment Bureau.  The Chairman has a plan that must be followed.

Wed, 12/05/2012 - 12:32 | Link to Comment Shizzmoney
Shizzmoney's picture

Obama flip-flopping on debt.  Hannity flip-flopping on the Patriot Act last night.

We really do need to set this shit on fire.

Wed, 12/05/2012 - 12:33 | Link to Comment cougar_w
cougar_w's picture

Well he said it was a leadership failure. So now he's going to fix it himself in King-ly fashion.

Democracy wasn't really working very well anyway.

Wed, 12/05/2012 - 13:39 | Link to Comment Karlus
Karlus's picture

It is a leadership failure when he blamed Bush. It's America is poised to take off if Repubs surrender, now.

 

The actual facts are unimportant. Its the spin & soundbites that win polls & elections.

Wed, 12/05/2012 - 12:33 | Link to Comment Motorhead
Motorhead's picture

What a fucking fascist.

Wed, 12/05/2012 - 12:33 | Link to Comment azzhatter
azzhatter's picture

Little Tin Horn Dictator Obama can blow me

Wed, 12/05/2012 - 12:33 | Link to Comment Bastiat009
Bastiat009's picture

Every single news organization in the country (and outside) should run this as the main headline story until Obama is forced to resign.

Wed, 12/05/2012 - 12:41 | Link to Comment surf0766
surf0766's picture

Let's send it to Al, Rachel and Lawrence . They will show it for sure !

Wed, 12/05/2012 - 12:44 | Link to Comment azzhatter
azzhatter's picture

His supporters don't even care, they would blow him on TV if they had the chance. It's like Hitler and the brownshirts. They are so ignorant they will let him destroy the country

Wed, 12/05/2012 - 12:52 | Link to Comment 79
79's picture

Ahh Mr Godwin, I've been expecting you...

Wed, 12/05/2012 - 12:34 | Link to Comment Richard Head
Richard Head's picture

That quote appeared on a teleprompter for certain.

Wed, 12/05/2012 - 12:34 | Link to Comment Madcow
Madcow's picture

send everyone an invoice for $100K -

if you can't pay - you're executed on live TV - 

that's what the USG would really love to do - why not just get right to it?

better a violent adjustment to reality than 30 years of increasingly brutal "thin the herd" policies authored by bankers

Wed, 12/05/2012 - 12:34 | Link to Comment rqb1
rqb1's picture

its different when your in charge, or at least playing the part

Wed, 12/05/2012 - 12:37 | Link to Comment Jason T
Jason T's picture

Interest payments will be $5.889 Trillion over the next 10 years.. that's if interest rates don't soar.  

 

Tis why we get a jubilee 2016ish

Wed, 12/05/2012 - 12:45 | Link to Comment tickhound
tickhound's picture

BamaSlim wasn't privy to the real agenda back then. 

Wed, 12/05/2012 - 12:38 | Link to Comment Yen Cross
Yen Cross's picture

 They put the telepromptor away and Europe closes then the Dow ramps over 50 points! What a joke...

Wed, 12/05/2012 - 12:38 | Link to Comment Inthemix96
Inthemix96's picture

The bamster strikes back.

BITCHEZ..

Wed, 12/05/2012 - 12:39 | Link to Comment TheMayor
Wed, 12/05/2012 - 13:49 | Link to Comment NeedtoSecede
NeedtoSecede's picture

Who the fuck would give you a red arrow for your post Mr. Mayor?  Which also begs the question who is the fucking statist troll who is giving down arrows throughout these comments?  Show yourself troll and tell us what your endgame is.  We really are a pretty open-minded bunch here at ZeroHedge and would welcome your wisdom.  Is that you Krugman?  Or is that you Beryankme?  Miserable statist fucks...

Wed, 12/05/2012 - 13:55 | Link to Comment forwardho
forwardho's picture

Out the troll! Out the troll! Que the torches and pitchforks.

Wed, 12/05/2012 - 12:39 | Link to Comment LongSoupLine
LongSoupLine's picture

You wanted a Chicago politician in the fucking WH, you got it America.

Fuck all the stupid full retard fucks who continue to vote for the best personality and gift giver, and not for who really cares about our country...Ron Paul.

Wed, 12/05/2012 - 13:23 | Link to Comment WarPony
WarPony's picture

In reality, it's likely "puppet on" or die trying to make a real honest to goodness difference.  Planned implosions take time.

Wed, 12/05/2012 - 12:41 | Link to Comment SeanJKerrigan
SeanJKerrigan's picture

Angelo Errichetti, former mayor of Camden, NJ:

"It looked like the Vietcong had bombed us to get even. The pride of Camden was now a rat-infested skeleton of yesterday, a visible obscenity of urban decay. The years of neglect, slumlord exploitation, tenant abuse, government bungling, indecisive and short-sighted policy had transformed the city’s housing, business, and industrial stock into a ravaged, rat-infested cancer on a sick, old industrial city."

Wed, 12/05/2012 - 12:45 | Link to Comment azzhatter
azzhatter's picture

Welcome to Obama's america

Wed, 12/05/2012 - 13:57 | Link to Comment NeedtoSecede
NeedtoSecede's picture

See also Detroit, DC, Baltimore, LA, Memphis, New Orleans and Chicago (Nice murder rate Chi-town!).  All like third-world slums and give us a look into our future.  We are screwed.

Bring on your red arrows libtard statist trolls!

Wed, 12/05/2012 - 14:17 | Link to Comment MeBizarro
MeBizarro's picture

That quote was made in '78.  Please get something more relevant. 

Wed, 12/05/2012 - 18:19 | Link to Comment SeanJKerrigan
SeanJKerrigan's picture

Never said it was recent -- but what prose!

Wed, 12/05/2012 - 12:43 | Link to Comment Everybodys All ...
Everybodys All American's picture

It's amazing to me how many people think Obama is the answer to our country's ills.

Wed, 12/05/2012 - 13:22 | Link to Comment caconhma
caconhma's picture

THere is another proof that "regular people" are stupid and deserve to lick ass to their masters.

Boy, I am losing any respect for the majority of human race.

Wed, 12/05/2012 - 17:02 | Link to Comment Cathartes Aura
Cathartes Aura's picture

then it's all working as intended. . .

Wed, 12/05/2012 - 12:42 | Link to Comment gamera9
gamera9's picture

Memory loss associated with marijuana use is caused by the drug’s interference with the brain’s natural protein synthesis machinery.

 

Wed, 12/05/2012 - 12:44 | Link to Comment HD
HD's picture

I don't remember that...

Wed, 12/05/2012 - 12:51 | Link to Comment TomGa
TomGa's picture

Question is, which of his early handlers wrote it for him?  Obummer just repeats what he's given.

Wed, 12/05/2012 - 12:43 | Link to Comment pods
pods's picture

It would be nice if Anon hacked the Tprompter and had him say this again on his "Sideshow BO" comedy tour.

pods

Wed, 12/05/2012 - 13:12 | Link to Comment Tsunami Wave
Tsunami Wave's picture

Anon... or AnAnon?

 

"U.S. Citizenism is responsible for enslaving the negroes too long, for acting like terrorists to the people in the middle east, and for spending too much money overall and being consumerists. But hey after all, they were the ones that pioneered it.

Makes me laugh!

Signed: An American."

--Crowd seems very confused at this point

Wed, 12/05/2012 - 12:44 | Link to Comment Gunga
Gunga's picture

The people are not responsible for the onerous debt incurred by corrupt politicians at the behest of criminal bankers. Renege on all public debt.
No more tax dollars to pay interest to the Federal Reserve to provide us our own countries currency.

Wed, 12/05/2012 - 13:38 | Link to Comment therearetoomany...
therearetoomanyidiots's picture

Oh yes we are...try not paying...point of a gun

Wed, 12/05/2012 - 12:52 | Link to Comment robertocarlos
robertocarlos's picture

Sounds like something Ronnie would have said. Then he'd have done the opposite. Of course you'd have to substitute the number 8.5 trillion with the number 800 billion for this to be true.

Wed, 12/05/2012 - 12:46 | Link to Comment Lendo
Lendo's picture

You can't make this shit up..

Wed, 12/05/2012 - 12:47 | Link to Comment azzhatter
azzhatter's picture

People don't realize they have the power to stop it right now. Just don't participate, buy nothing except neccessities, don't pay the tributes to Ozero. What are they going to do, put everyone in jail? The people can stop it now if they had the will

Wed, 12/05/2012 - 13:50 | Link to Comment forwardho
forwardho's picture

And when the musics over... What... turn out the lights?

Wed, 12/05/2012 - 15:53 | Link to Comment prodigious_idea
prodigious_idea's picture

What you may be failing to realize is that the benefits that accrue to the elitists also trickle down the socio-economic ladder.  Think of money managers, 5-star restaurant staff, bank employees, luxury car dealers, and all the rest of the employees of industries that get the crumbs off the table.  People don't always vote/act in their best long-term interest.

Wed, 12/05/2012 - 12:47 | Link to Comment HD
HD's picture

Fucking algos. Every damn time on nothing. It'd be hilarious if it wasn't so sad.

Wed, 12/05/2012 - 12:49 | Link to Comment gdiamond22
gdiamond22's picture

"Money with them (Government) is nothing but trash when it is to come out of the people. But is is the one great thing for which most of them are striving, and many of them sacrifice honor, integrity, and justice to obtain it"

David Crockett

Wed, 12/05/2012 - 12:49 | Link to Comment Inthemix96
Inthemix96's picture

In all honesty, does the bamster instill confidence in any of you bitchez?

The fucker cannot string two coherent sentences together without the famous telepromter.  Its nearly as bad as having a used matress salesman as the commander of commanders.  The stupid fucker probably has as much idea he is the president as I have of being a snowstorm.  Bonafide fucking idiot is what the bamster is, nothing more, nothing less.  He reminds me of a darker coloured nick clegg.

About as much use as a chocolate fire guard.

Wed, 12/05/2012 - 12:58 | Link to Comment Dr. Engali
Dr. Engali's picture

There are probably two bamster believers on this site who live and breath off of every word he says. How do I know? Because there are two serial junkers who will never show themselves, cowards that they are,but they will junk every negative Obummer comment. Other than that I would guess most people here would rather be drug across three miles of broken glass than listen to him.

Wed, 12/05/2012 - 13:49 | Link to Comment forwardho
forwardho's picture

Give the good Dr  an Amen!

Wed, 12/05/2012 - 15:21 | Link to Comment Everybodys All ...
Everybodys All American's picture

I've seen plenty defend him Doc especially on the week-end topics when you get all types here. Fiscally no one defends him all that much because most people on this sight have figured it all out. That's why they are usually here to begin with,but on social issues you will find many going to the mat with him and that is why he got reelected in my view.

Wed, 12/05/2012 - 22:34 | Link to Comment tsx500
tsx500's picture

I'd rather lick the scum from between the toes of a Nigerian marathon runner.

Wed, 12/05/2012 - 13:02 | Link to Comment lakecity55
lakecity55's picture

I guess if you were a Bolshevik you would be pretty confident.

He was, after all, strongly endorsed by the CPUSA.

If you are an American, you are probably wondering when you, your friends, or your family will begin to disappear in the dark of night.

Wed, 12/05/2012 - 12:52 | Link to Comment Dr. Venkman
Dr. Venkman's picture

Things have changed. We have moved to the wholesale printing of money. Nothing to see here. Move along. Something like that.

Wed, 12/05/2012 - 12:52 | Link to Comment SheepDog-One
SheepDog-One's picture

Aaaand DOW spikes +100 on nothingness...hell I'm just goin to drink and take a nap.

Wed, 12/05/2012 - 12:53 | Link to Comment Agent P
Agent P's picture

That was Senator Obama...totally different than President Obama.  Like when your wife/current girlfriend finds out how many women you slept with before you met her...honey, that was the old me, this is the new me.

Wed, 12/05/2012 - 12:57 | Link to Comment rob2360
rob2360's picture

"Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities."

So last decade thinking. If the FED owns all the bonds who does the US govt pay interest to? The FED, who simply pass it back to the US govt. Cost of debt service - NIL, whatever the interest rate. Looking forward to the quadrillion dollar debt coming soon. And it won't cost a penny.

Wed, 12/05/2012 - 13:16 | Link to Comment WarPony
WarPony's picture

Not quite.  For them to "accept" the monopoly on printing FRNs, the FED required a COST-PLUS contract and a GUARANTEED 6% built in profit.

Wed, 12/05/2012 - 15:05 | Link to Comment chubbar
chubbar's picture

That's like saying the guy handing out buckets of sand from the middle of the sahara is somehow concerned he is going to get 6% back. They are never going to be audited, they can print themselves up as much as they want and they will print up as much as the gov't wants, so who cares that they get back 6% (Which I think was capped at 3% back in the early 70's IIRC). The only problem for folks like us is that the gov't is using this as an excuse to steal more money from us via taxes. That just makes it harder for the average joe (who is paying attention) to get organized for the aftermath of our currency collapsing, the additional taxes won't make a difference at all to the final outcome.

Wed, 12/05/2012 - 12:59 | Link to Comment lakecity55
lakecity55's picture

homo fuckstick

 

Wed, 12/05/2012 - 12:59 | Link to Comment robertocarlos
robertocarlos's picture

A twenty fold increase in 30 years. It's like APPL stock.

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