• 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...

"No Easy Off-Ramps" - Compare And Contrast

Tyler Durden's picture




 

"I will veto any effort to get rid of the automatic spending cuts... No easy off-ramps on this one. We need to keep the pressure up to compromise. Not turn off the pressure. Only way the spending cuts will not take place is if congress gets back to work and agrees on a balanced plan to reduce the deficit by at least $1.2 trillion. That is what they need to do. That’s the job they promise to do"

- Barack Obama, November 21, 2011

 

Fast forward to....

With our economy poised to continue to strengthen this year, the President will make clear that we can’t see another self-inflicted wound from Washington. The President will urge Congress to come together and act to ensure these devastating cuts to defense and job-creating programs don’t take effect.

- White House statement, February 5, 2013

.... and

"The threat of massive automatic cuts have already started to affect business decisions.  Deep indiscriminate cuts to things like education and training, energy and national security, will cost us jobs and it will slow down our recovery.... It’s not the right thing to do for the economy, it’s not the right thing for folks who are out there still looking for work. And the good news is this doesn’t have to happen.... [Congress] should at least pass a smaller package of spending cuts and tax reforms that would delay the economically damaging effects of the sequester for a few more months until Congress finds a way to replace these cuts with a smarter solution.

- Barack Obama, February 5, 2013

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Fri, 02/08/2013 - 14:51 | 3226565 Flakmeister
Flakmeister's picture

Kubuki theatre...

Fri, 02/08/2013 - 14:54 | 3226573 TruthInSunshine
TruthInSunshine's picture

-

 

"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. … Increasing America’s debt weakens us domestically and internationally. Leadership means that the buck stops here. Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."

 

Senator Barack Obama (D-IL)

March 16, 2006

Official National Debt at that time: 8 trillion USD

Fri, 02/08/2013 - 14:57 | 3226582 bigdumbnugly
bigdumbnugly's picture

 

"I will veto any effort to get rid of the automatic spending cuts...  

change that to 'automatic weapons' and he's starting down the right path at least

Fri, 02/08/2013 - 15:18 | 3226675 Dr. Engali
Dr. Engali's picture

Speaking of automatic weapons:

 

http://www.infowars.com/california-announces-semiauto-confiscation-plan/

 

Sorry all you Californians....they want you loading your guns one bullet at a time.

Fri, 02/08/2013 - 15:28 | 3226714 fonzannoon
fonzannoon's picture

That is just nuts. Their poor cops don't stand a chance with those muskets against the bad guys who don't turn their weapons in.

sarc/broken/permanently/on

Fri, 02/08/2013 - 19:47 | 3227584 trav777
trav777's picture

Congress is gonna say yeah nigga pleeze, wtfever. 

YOUR TURN bitch.  This guy is goin lame duck quicker than any 2nd termer ever....he didn't even have the fuckin balls to do the gun control thing; gave it to biden and they came up with JACK SHIT.

Obama is a do nothing person with a do nothing affirmative action queen show up and take applause life.  I don't blame him for bein a chump and makin all the paper he can make.  The fault is those who voted for him.

the US needs to partition...there's just no common ground to be had.  Bama and the Detroiters are just like the ZIM chick at a low level; she was just HONEST.  Clap hands for the white man for all the shit he built, now WE are gonna ENJOY IT.

Sat, 02/09/2013 - 00:33 | 3228207 jeff montanye
jeff montanye's picture

he was also going to have the most transparent administration in history and close down gitmo.

Sat, 02/09/2013 - 01:10 | 3228237 All Risk No Reward
All Risk No Reward's picture

TIS,

1. Criiminally blow the world's largest credit bubble on the top of unpayable Debt Money Tyranny - the whole point is to bankrupt the host and bring it into gang bankster receivorship.

2. Once the exponential debt growth peaks, loot the country blind (their bailout is our unpayable debt) and offload trillions in debt onto the tax payer - the Fed is just keeping it warm in that black box for a while.

3. Once the collapse appears imminent, disarm your victims of the weapons that can do the most damage to the establishment types.  The people won't be happy when they realize there are CONSEQUENCES AND REPERCUSSIONS for being a member of the chumptocracy.

...And here we are.  They aren't worried about saving 50-400 lives a year.  They could care less.  They've false flagged and murdered so many people they have to enjoy it by now.  They give trillions to the banksters to bid up food prices and starve 100s of millions of children, no doubt murdering millions a year.  They steal children and then CPS jacks the children up on pharmaceuticals that brain damage them.  They promote the infanticide (the government can murder your child when you can't afford to support him/her like in Greece) and nobody says a word.  For the gullible that don't believe it...

http://jme.bmj.com/content/early/2012/03/01/medethics-2011-100411.full

Journal

Of

Medical

"Ethics"

...pimping baby murder.

China's two child murder policy is a feature to these people, not a bug.

“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. The one aim of these financiers is world control by the creation of inextinguishable debt.”
~Henry Ford

“This Act establishes the most gigantic trust on earth.…When the President signs this Act, the invisible government by the Money Power, proven to exist by the Money Trust Investigation, will be legalized.…The money power overawes the legislative and executive forces of the Nation and of the States. I have seen these forces exerted during the different stages of this bill.…” (Congressman Charles A. Lindbergh, referring to the act which established the Federal Reserve. Congressional Record, Vol. 51, p. 1446. December 22, 1913.)

“The new law will create inflation whenever the trusts want inflation. From now on depressions will be scientifically created.” (Congressman Charles A. Lindbergh, after the passage of the Federal Reserve act 1913.)

“Under the Federal Reserve Act, panics are scientifically created. The present panic is the first scientific one, worked out as we figure a mathematical equation.” (Congressman Charles A. Lindbergh, The Economic Pinch, 1921.)

“The new law will create inflation whenever the trusts want inflation. It may not do so immediately, but the trusts want a period of inflation, because all the stocks they hold have gone down... Now, if the trusts can get another period of inflation, they figure they can unload the stocks on the people at high prices during the excitement and then bring on a panic and but them back at low prices.…The people may not know it immediately, but the day of reckoning is only a few years removed.” (Congressman Charles A. Lindbergh, referring to the Federal Reserve act, Congressman Lindbergh stated this a few years prior to the stock market crash in 1929 which ushered in the Great Depression Congressional Record, Vol. 51, p. 1446. December 22, 1913.)

Debt Money Tyranny

http://www.keepandshare.com/doc/4768883/debtmoneytyranny-6-1-pdf-60k?tr=77

Fri, 02/08/2013 - 15:38 | 3226732 AlaricBalth
AlaricBalth's picture

 

I look forward to his State of the Union Speech:

"My fellow Americans, from the discussions I have had with Congressional and other banking leaders, I have concluded that because of the failure of my ability to lead this nation, and my complete disregard to the oath of office, in which I swore to defend and protect the Constitution,  I no longer have the support of the Congress that I would consider necessary to back the very difficult decisions and carry out the duties of this office in the way the interests of the Nation would require.

I have never been a quitter. To leave office before my term is completed is abhorrent to every instinct in my body. But as President, I must put the interest of America first. America needs a full-time President, not one who takes a extended vacation every chance he gets, particularly at this time with the daunting economic problems we face at home and my lack of respect from abroad.

To continue to fight through the next few years would almost totally absorb the time and attention of both the President and the Congress in a period when our entire focus should be on the great issues of peace abroad and prosperity, without the need for Federal Reserve intervention, at home. Personally, I would rather be playing golf and toking on some choom.

Therefore, I shall resign the Presidency effective at noon tomorrow. Vice President Biden, God help us, will be sworn in as President at that hour in the Oval Office".

 

Fri, 02/08/2013 - 18:22 | 3227385 TBT or not TBT
TBT or not TBT's picture

Don't recall, does Boehner get to be veep at that point?

Sat, 02/09/2013 - 14:18 | 3228865 nofluer
nofluer's picture

No. Bone-er gets to be Speaker of the House while Biden picks a new VP subject to the advice and consent of the Democrap Senate. The only way Bone-er gets to be pres is if both the Pers and the VP get offed or die of foot-in-mouth disease (or something) before a new VP is selected and approved by the Senate.

Sat, 02/09/2013 - 06:08 | 3228371 SeattleBruce
SeattleBruce's picture

Great punchline: "Personally, I would rather be playing golf and toking on some choom."

Fri, 02/08/2013 - 15:57 | 3226825 nightshiftsucks
nightshiftsucks's picture

Well I guess I know how I die.I will never give up my weapons.If the politicians want my legally purchased weapons then they can come and get them.

Fri, 02/08/2013 - 20:47 | 3227753 Things that go bump
Things that go bump's picture

So sorry, the politicians will not be coming to disarm you. They will send the military.  

Fri, 02/08/2013 - 15:58 | 3226834 nightshiftsucks
nightshiftsucks's picture

Well I guess I know how I die.I will never give up my weapons.If the politicians want my legally purchased weapons then they can come and get them.

Fri, 02/08/2013 - 16:58 | 3227120 nightshiftsucks
nightshiftsucks's picture

Wow Doc,why did you post that ? You just ruined my day.I actually just got back from the gun store to fill out paper work for an overpriced AR I just bought.Not sure what I would do,leave the state or start a malitia,but whatever I do I wont take it like a sheep.

Fri, 02/08/2013 - 19:53 | 3227602 trav777
trav777's picture

i guess it never occurred to you that you might have to USE those things?

You know who your enemies are.

You've concluded there is no common ground.

You're armed...therefore?

You're gonna exactly take it like a fuckin sheep.  The only people who feel empowered to ACT when they feel affront are those who look like the LAPD killer.

you're not entitled to do shit, you fuckin racist.  go sit in the corner and ruminate on the privilege you have and the debt you owe.

Fri, 02/08/2013 - 18:20 | 3227367 TBT or not TBT
TBT or not TBT's picture

Sure, statist control freaks would like to beat reality over the head with sheaves of paper.   The compliance rate for anything like the hopefully overheated infowars site is claiming to be in the works would be poor, and a Supreme Court smackdown not long in the works.   All semi auto would include of course the 1911 pistol, which is a "militia" qualified weapon since well before the NFA was enacted all the way through the Vietnam war.   What they think a revolver does is anyone's guess.   This doesn't concern TBT personally as my house is protected by claymore mines, which is a different, federal issue.

Fri, 02/08/2013 - 14:57 | 3226588 Spaceman Spiff
Spaceman Spiff's picture

Not Kubuki....More like a Donkey Show and we aren't in the audience or the Donkey...

Fri, 02/08/2013 - 15:13 | 3226660 Shitters_Full
Shitters_Full's picture

This is bukkake theater...and we're getting creamed again...and again...

Fri, 02/08/2013 - 15:19 | 3226680 Spaceman Spiff
Spaceman Spiff's picture

If we lose anymore jobs it will be "two tax payers, 1 cup..."

Fri, 02/08/2013 - 14:57 | 3226594 insanelysane
insanelysane's picture

This president has shown time and time again that words meaning nothing to him.  He will say anything.  His latest inauguration speach was just a series of key words strung together.  It was nonsensical.

Fri, 02/08/2013 - 15:00 | 3226604 TBT or not TBT
TBT or not TBT's picture

Spending faster destroys the republic faster, and that is the kind of thing he swore on hi father's grave to do, get revenge on and humiliate the western and "colonial" powers.

Fri, 02/08/2013 - 15:21 | 3226687 cossack55
cossack55's picture

He does not have to do anything to destroy the little that is left of this former Republic. 

Fri, 02/08/2013 - 18:19 | 3227373 TBT or not TBT
TBT or not TBT's picture

He gets ONE Supreme Court justice, just one, and it's potentially over in writing soon after that.    Look at the Obamacare decision and you might think that already happened, but it is not so clear.   Roberts reminded everyone of the extremely tyrannical nature of the income tax amendment.   The Constitution ends where the IRS begins, so to speak.

Fri, 02/08/2013 - 21:21 | 3227831 earleflorida
earleflorida's picture

+1001... yeah!

Fri, 02/08/2013 - 15:10 | 3226650 eclectic syncretist
eclectic syncretist's picture

The flip-flopping indecision reveals that he's got nothing.  No plan exists other than carry on under the immoral counterfeiting model we now have.  Pretty sad for a guy who's eloquence seemed to proclaim him as a person of historic vision.

Fri, 02/08/2013 - 15:56 | 3226814 marathonman
marathonman's picture

Yeah, he looked really convincing reading that teleprompter.

Fri, 02/08/2013 - 15:45 | 3226771 bagehot99
bagehot99's picture

Of course. He says whatever is necessary to sustain The Cause, at any given time. And if we have to be at war with Eastasia tomorrow, instead of Eurasia, then that's OK. That's how it works, and if you disagree you're a wrecker and a lunatic. 

Don't listen to what he says, watch what he does - and try to enjoy the spectacle of the Team Blue Media tying themselves in knots explaining how pouring water on someone's face is a moral outrage, but assassinating US citizens without due process is perfectly sensible.

Then buy some ore ammunition.

Fri, 02/08/2013 - 15:53 | 3226806 chubbar
chubbar's picture

Yeah, A million people showed up that monday and only 2 had to call in sick.

Sat, 02/09/2013 - 06:14 | 3228373 SeattleBruce
SeattleBruce's picture

"His latest inauguration speach was just a series of key words strung together.  It was nonsensical."

That's what happens when you're even bad at reading a teleprompter.

Fri, 02/08/2013 - 16:04 | 3226716 Banksters
Banksters's picture

Obama is a narcissistic sociopath.   

 

Keep your eyes on that fucker, AT ALL TIMES.

Fri, 02/08/2013 - 15:34 | 3226730 Eireann go Brach
Eireann go Brach's picture

At least 8 out of 10 people do not like Obama and actually despise him, so how did he get voted in as president with 50% of the votes ask my friends in Europe? Welcome to Govt accounting in Amerika!

 

 

 

Fri, 02/08/2013 - 20:00 | 3227622 trav777
trav777's picture

I'll tell you how, because white people are pussies.

Dickless, spineless pussies.  Might as well be fucking women. 

So afraid of a label that they ran out the first time trying to PROVE that they weren't one so they voted for this guy.  To absolve the STAIN from their everlasting souls and shit.  But it didn't work...the label is still chasing them.  So a lot said fuckit I'm DOUBLE DOG DEFINITELY "not one" if I voted for this black man TWICE, right?  And so they did it.

And that's the bottom line; they really are that mindfucked.  The powers lead them around like pets.  May as well size your asses up for a collar and a leash, bitchez.

Can you FATHOM a colored version of Amy Biehl's father?  He sacrificed his OWN DAUGHTER to this.  She was his absolution from the stain of ancestral guilt.  He came to RSA and shook the hands of the fucking savages that killed his little girl, who herself was an anti-apartheid activist.  How much MORE fucking far gone can you GET than this?

this motherfucker was a californian; he had nothing whatsoever to do with ANY OF IT and yet he was willing to give his daughter's blood to excise this.  Now, I'm SURE he goes to all his liberal parties and proudly brags, "i'm DEFINITELY not one, my daughter was murdered by blacks and I shook their hands."  And I bet his liberal friends clap like seals over it and secretly wish that either they or their loved ones could be similarly murdered so that they too could be exonerated from this label.

Fri, 02/08/2013 - 21:28 | 3227849 earleflorida
earleflorida's picture

it's time! time, for 'affirmative action' regarding illegal immigrants-- simply put, 'calif`majority-dreamin'!

 

Sat, 02/09/2013 - 06:26 | 3228375 SeattleBruce
SeattleBruce's picture

First of all, about 42.5% didn't vote, and of the just under 6 in 10 that did vote, he got more votes.  And then add this to the mix:

http://www.nationalreview.com/corner/340174/voter-fraud-never-happens-ke...

Not that it matters.

Fri, 02/08/2013 - 21:54 | 3227915 Buck Johnson
Buck Johnson's picture

Big time, big time.  He said one thing and a year later comes out and do a 180 and blames the republicans for something he wanted.

Fri, 02/08/2013 - 14:52 | 3226567 ZippyBananaPants
ZippyBananaPants's picture

So?  

 

Hey what is going with Jersey Shore? are they back on the air? is the chick still preggers?

Fri, 02/08/2013 - 17:17 | 3227202 Panafrican Funk...
Panafrican Funktron Robot's picture

They migrated to West Virginia, apparently. 

http://en.wikipedia.org/wiki/Buckwild_(TV_series)

Fri, 02/08/2013 - 14:54 | 3226575 Catullus
Catullus's picture

Because all those highly talented, highly efficient government workers simply won't accept lower pay or few resources.

It'll have devastating effect on the economy ... Of Northern Virginia and Southern Maryland!!!!!

Fri, 02/08/2013 - 14:55 | 3226577 Spaceman Spiff
Spaceman Spiff's picture

Our politicians learned that they never have to endure the negative ramifications of a recession if they just goose government spending.  It's GDP MATH!

 

God we need a better measure for private sector business health...

Fri, 02/08/2013 - 14:55 | 3226583 Bam_Man
Bam_Man's picture

Pretty hard for anyone to be "serious" about spending cuts when the Central Bank is enabling the deficit spending to the tune of $85 Billion a month ad infinitum.

Fri, 02/08/2013 - 15:19 | 3226676 oddjob
oddjob's picture

nice deflection. purchasing toxic mortgage bonds from Zombie TBTF banks is criminal fraud. Calling it deficit spending is doublespeak.

Fri, 02/08/2013 - 17:22 | 3227218 Panafrican Funk...
Panafrican Funktron Robot's picture

I would suggest that buying Treasuries is also fraudulent.  

Fri, 02/08/2013 - 14:57 | 3226592 Ivanovich
Ivanovich's picture

The Embarrassment-in-Chief.

Fri, 02/08/2013 - 14:56 | 3226593 John Law Lives
John Law Lives's picture

T-O-T-A-L  C-H-I-C-K-E-N-S-H-I-T.

Does any politician have the GUTS to make meaningful spending cuts in an attempt to get deficit spending under control?

FUBAR to the MOON.

Fri, 02/08/2013 - 14:59 | 3226599 Dr. Engali
Dr. Engali's picture

Let them spend I say. The more they raise the debt ceiling the higher gold will eventually follow. Spend it all while we can then default , because we are past the point of no return.

Fri, 02/08/2013 - 15:00 | 3226602 MFLTucson
MFLTucson's picture

So he is a fuckin liar, that is not news!

Fri, 02/08/2013 - 15:00 | 3226605 TrustWho
TrustWho's picture

OMG, President Obama speaks with forked tongue, but he cares about YOU!

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