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Quote Of The Day From Leon Panetta
Pretty much sums up not only the present and future of US budget cuts, but everything else about the US:
- PANETTA SAYS NO IDEA `WHAT THE HELL IS GOING TO HAPPEN' ON CUTS
He added the following:
- PANETTA SAYS SEQUESTRATION CUTS `SERIOUSLY THREATEN' STRATEGY
- PANETTA SAYS `MOST IMMEDIATE THREAT' IS FISCAL UNCERTAINTY
And in other news:
- DEPUTY SECRETARY CARTER AUTHORIZES STEPS TO REDUCE SPENDING
- CARTER SAYS DEFENSE OFFICIALS CAN DISMISS TEMPORARY HIRES
Don't worry Leon: nothing will happen on cuts, because there will be no cuts, as reducing the US deficit will mean the Fed has to monetize less Treasurys, which means less reserves are created, which means the Primary Dealers have less dry powder to buy 3x beta stocks and less IG9 or 19 collateral, which means less "wealth effect", which means the 1% status quo is unhappy.
And the status quo can never be unhappy.
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Did we register/confiscate his guns already? If so, who cares? Oh wait...
Haven't seen this posted on ZH:
http://www.sec.gov/news/press/2013/2013-3.htm
The rats are certainly in panic mode.
Something huge and smelly about to finally hit the fan.
It will be a buying opportunity if you're right... but I wouldn't hold my breath.
A (defective, vastly overpriced) F-35 Joint Strike Fighter in every garage!
Maybe Boeing can give them some pointers from Dreamliner. The ultimate bullish market indicator would be if a Dreamliner crashed into a a F-35's from sucking a drone into an engine. USA, USA, USA!
The F-35 will be allowed in every garage, however they will be limited in the number of missiles they may carry, and there will be a department set up to administrate the licensing of guided missiles.
As long as they don't get wet. Or is that the B-1 or B-2? Or all the above?
I think your talking about Hillary Clintons "box"
"The rats are certainly in panic mode.
Something huge and smelly about to finally hit the fan."
Gore sold his stake in CurrentTV to the very people the station was against, and got filthy richer:
http://www.washingtontimes.com/blog/watercooler/2013/jan/10/al-gore-now-...
Tony Blair took out a monster HELOC:
http://www.dailymail.co.uk/news/article-2204154/Tony-Blair-takes-4-2m-lo...
Are they cashing out and getting ready to run?
This is just the pink slip orchestra tuning the instruments.
Just wait. Main Opus is coming up with poor old Lew conducting.
Did they fit a whole orchestra on the top deck of the Titanic? I always thought it was a smaller ensemble.
...this will go down as well as the Hindenburg. I'm sure they'll all fit.
I'm with CPL & the Hindenburg. The Titanic did not make its own iceberg
Oh, and the key word from Panetta's lips is "hell"
The best way to sum up Obama's economic policies and how to deal with them is... nobody has any fuckin' clue!
Panetta, a member of his own cabinet proves the point!
Did we register/confiscate his guns Drones already? If so, who cares? Oh wait...
There fixed it for ya :)
Apparently, california is "magically" fixed.
http://www.cnbc.com/id/100370444
Just the same, can I see the numbers and the underlying assets?
This should stem the flow of all those smart rich folks leaving for greener pastures. CA budget was based on projected Facebook earnings, lol.
It appears to be getting serious, and if we pull out our trusty tyrant manual we see the following little gem of wisdom from another broke corner of the earth.
When it becomes serious, you have to lie. - Jean-Claude Juncker
Saw the U-Haul quotes in a twitter post. The price ratio between San Francisco and Austin was 3:1. 1500 bucks to Austin from SF and 500 bucks from Austin to SF. This means Austin is a 'pit'. Trucks are not productive in pits, so they cost more to take there (these are places where lots of people are moving).
TD (or other interested party) try contacting Amerco (Uhaul Traffic Department specifically) in Phoenix to see if they will share the pit & desert locations presently throughout the US Canada and Alaska for additional insight into this phenomenon. This can be incorporated into our data sets under the Uhaul metropolitan index. There could be a score from 1-10 for each metro area for example.
If I ran I private equity shop investing in residential rental properties (as some are doing) I would use this index to figure out where to direct my investments.
You see, the areas trying to grow the pie offer low taxes and light touch regulation for responsible folks, and capital seeks out these areas. And highly regulated, unionized, corrupt locales become less attractive to honest capital. Same as it ever was.
PANETTA SAYS SEQUESTRATION CUTS `SERIOUSLY THREATEN' STRATEGY
Exactly which strategy is this Mr Director of the CIA? The one where you kill children in countries we arent suppose or the one where you snort coke with the Sinaloa cartel?
Jesus, I thought everything was fixed
just wait till they lower the "military age" target males to 11. Yemen will love us, want to be just like us, and gladly give us their resources. It makes me proud just to say it.
DaveyJones said:
With such brave displays of valor in (virtual) combat, how could it be otherwise?
"A global force for good."
http://www.youtube.com/watch?v=h3wtUCPWmeI
They tried "a global force for greed" but it fared poor in the study groups. At least this tape proves we recruit white, black and green people and save babies.
Well, he is SECDEF, and not CIA Director, though he did hold that position in the past.
The strategy to which he alludes is the National Defense Strategy which is supported by, primarily, DOD.
Secretary Panetta is, in fact, leaving DOD, just as Clinton, Geithner, and a half dozen other big players are leaving the administration. This is not unusual at the beginning of the second term of a President, but it seems somewhat ominous because at the same time as they leave circumstances they created are such that it appears we are on the verge of a genuine, SHTF sort of TEOTWAWKI.
In other news, the algo closing ramp has arrived on schedule.
Fiscal uncertainty? Has this idiot looked at the stock market? What the hell is he worried about?
And they called the Bush administration inept.
Keep that attitude up Leon and there will be even more confusion over who will replace you.
Could be part of his strategy.
Cuts are for pussies... What we need are things like more laws to influence growth in our Prison Industrial Complex and in the Lawyers and Paralegals needed to prosecute them.
SOLUTIONS bitchez SOLUTIONS
Rope?
Hey Tyler,
Non sequitor, Can you post a chart of new user growth? You must be setting the world on fire I see so many new names in the last 6 months. Which in and of itself would be a sign...
Probably fascists from the varous 3 letter agencies of the state.
There are only 30 people who actually comment, the different usernames are for the voices.
I'd comment more but all the good quotes are taken early. Don't you people have jobs?
Working for GOVT as snitchez,,,,,,
He should just put the DOD budget right into the Russel 2,000 and not worry about the cuts!
Hell, he'll have it all back plus some by the closing bell. You have to 'put money to work'.
What a dumb ass!
Whatchabitchinabout? I'm sure Lew the Jew has our futures all mapped out. Just remember, candy is dandy, but hollow points are forever.
"Cuts" ...now that's funny. Just print some more Bennny.
Cuts? Maybe get a blister on yo little finger. Maybe get a blister on yo thumb.
That ain't workin'.
Maybe get hair on your knuckles, too.
We have a new permanent enemy for the Long War, "Fiscal Uncertainty"
Panetta will be replaced by that torturing fascist Brennan. Man is that guy scary. He ran the CIA torture and rendition program. Obomba wanted to make him head of CIA in 2009, but they thought it wouldn't look too good at the time, all that waterboarding and electric shocks etc etc. So they put him in charge of America's centerpiece war crime, the Drone Program. Obomba seriously ramped it up from Bush's levels; and supposedly enjoys replaying the strike videos personally. I wonder if he snorts with pleasure as he watches body parts from nearby 5-year olds fly around. Brennan was in charge of somehow coming up with a "legal" basis for pre-crime extrajudicial murder; but Obomba blocked the public from learning what that "legal" basis is. But they hate us for our freedoms...
I don't know what's scarier: Brennan; the man who appointed him; or the people who elected that guy. Bloodthirsty fascist country-destroyers all
Panetta will be replaced by Chuck the schmuck Hagel. Fill in for General P. will be replaced by Brennan.
Ron Paul was the last person I'll vote for in my lifetime. I refuse to legitimize the fascist police state we've become.
Thanks for the correction. Musical chairs for the fascisti, same effect.
Look ZH readers, Panetta is SECDEF, not CIA Director. He WAS CIA Director. He is now SECDEF.
I think they want the cuts so they can then fund their own personal civil military, one just as strong as our current military.
Now where'd you get that silly idea, surf?
Would you accept aliens?
'Cuts'? Yea sure hold your breath.
The only cuts will be prime rib and slices of government cheese...or maybe while holding your breath...cut the cheese!!
Can the sequester cuts be made up with secret dope money by moving more?
pods
Leon, let me toss you a few clues about the future of federal government finances (I have a crystal ball, neener neener neener):
1) Neither R's nor D's posess any financial acumen, and will default to talking points consolidated onto (1) 8 1/2 x 11 piece of paper (single sided) to form their "positions" about 9 days prior to outright default.
2) Sternly worded statements will be made.
3) Unaffectionate terms will be used to describe "the other side." You know, the crazy ones.
4) A proposal to reduce the rate of spending will emerge
5) Hand flailing.
6) Cave in, approve, manufacture another quadrillion tons of unfunded future obligations.
7) Wait 3 to 5 months. Repeat.
Wow!
That's more effort than all of TARP!
and they might even suggest documents longer than three pages (even though 3 is a lucky (and holy) number)
Leon is not informed? Hard to believe out of the most versatile multitaskers ever to put on a government hat. Ask Leon to be Chief of Staff? No problemo. How about CIA. No problemo. Defense? No problemo. Swimming instructor? Okie Dokie.
Just don’t ask me any budget questions.
Panutta should have just left it at "I have no idea what's going on I just suck on Obama's cock like everyone else"
like everyone else.....in the DoD
of course all the others too, but emphasis on DoD
The fiscal cliff tax portion of things was a lousy $60 Billion in FY 2013 and no more than that each year forever.
The deficit is $1.2T.
The Sequester is to save about $120 B in spending. It won't. Even if it happened, it won't. $120B is enough to empty cubicles and when you do that, two things happen. 1) you lose the income tax they were paying and 2) You pay their unemployment benefits. So call it another $60B, and that's not counting the multiplier effects of those DoD office workers not going to lunch outside the base gate and providing the sandwich shop some revenue (on which to pay taxes).
So that $1.2 - .06 then is also - 0.04 and you have $1.1T, assuming the more general GDP reduction from this cut doesn't trim tax revs even more.
THERE IS NO ANSWER TO THIS OTHER THAN GOV'T DECLARATION OF NEW NUMBERS. Money can be redefined at will. Gold transactions can be taxed if they are ever significant.
Only oil and food calories can't be decreed.
Funny how that 60 billion got lapped up in upcoming Sandy appropriations. Fuck, not even 1 day passed and future presidential candidate Chris Christie (if he doesn't die of a heart attack) and his buddy "It's All The Muzzie's Fault" Peter King were gnashing and wailing like female first graders.
In the face of the evident "New Realities" maybe it's time to change your moniker to something more appropriate - may I tentatively suggest inserting "wildly" in the appropriate location?
Considering for a moment that the general public do NOT have access to accurate information, rather their information feeds are at least slightly "massaged" to provide a more palatable Worldview, I suspect (and I note so do many others), that Global financial / markets collapse would be up amongst the "very best outcomes" for our present situation'
Looking back at history - the most probable outcome would be the one similar situations have led to in the past.
Outcomes running from 1914 - 1918, and from 1935 - 1945
"This time it will be different". Dead right there - because this time a LOT of the players are nuclear armed, and it only takes one player to kick the ball for the game to start in earnest.
The US FedGov is officially the Joker in the Dark Knight:
"You wanna know how I got these scars?"
"Trying to cut the Federal budget?"
"Yep."
Take heart, no matter what happens or what they do or don't do in the big W, the socialists, rich elitists, and Wall Street insiders will make out perfectly well.
Its OK Leon. You might have to lay off some friends at 100% pay for life. I know, the paperwork will require a new agency.
Cuts in the military will be exceeded by other govt. spending so there will be no good news on either the deficit or the debt. There was a popular song with a lyric of "on the eve of destruction" that seems to fit.