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Boehner Says We Are "On The Path To Default", "It Is Time For Us To Stand And Fight"

Tyler Durden's picture




 

Despite the late Friday market optimism that the government shutdown, and more importantly debt ceiling impasse, may both be coming to an end as more republicans appeared ready to pass a "clean" continuing resolution, it was only fitting that a few hours after Bank of America said an "agreement is almost impossible as long as Obamacare is on the table", that the House speaker Boehner, who appeared on ABC with George Stephanopolous' This Week earlier today, escalated matters once again making any near term resolution virtually impossible.

That this happens on day 6 of the government shutdown (and with neither chamber of Congress set to meet until Monday evening, an eight day or longer shutdown is virtually inevitable) is bad. That this is happening with 11 days left until the debt ceiling X-Date is worse, especially since the republicans have made it clear they will now look to roll the debt ceiling negotiation into the government shutdown debate, both of which are driven fundamentally by the republicans' opposition to Obamacare. Furthermore, with the halfway reopening of the government following the recall of furloughed Pentagon civilian employees, the government's cash will run out that much faster.

Ironically, the fight to defund Obamacare came in earlier than many had expected. As Politico notes, Boehner had expected that the Obamacare fight would come during the next vote to raise the debt ceiling, “but, you know, working with my members, they decided, let's do it now," he said. "And the fact is, this fight was going to come, one way or another. We’re in the fight. We don't want to shut the government down. We’ve passed bills to pay the troops. We passed bills to make sure the federal employees know that they're going to be paid throughout this.... You've never seen a more dedicated group of people who are thoroughly concerned about the future of our country," he said of House Republicans.

"It is time for us to stand and fight." Boehner added.

Below is the excerpt which contains Boehner's admission that he may have changed his mind on a stern resolve to not let the US default:

Boehner also appeared to back off of private assurances he’s offered colleagues that the nation would not default on its debt. Treasury Secretary Jack Lew has said the nation will run out of ways to continue to pay all of its bills Oct. 17, making an increase in the debt limit an urgent priority.

 

Boehner said repeatedly that he does not intend to have the nation default on its debt. But he declined to guarantee that he’d bring a debt-limit bill to the floor of the House without concessions from Democrats.

 

Asked by Stephanopoulos whether that no negotiations means the country will default on its debt, Boehner responded: “That’s the path we’re on. Listen, the president canceled his trip to Asia. I assumed, well, maybe he wants to have a conversation. I decided to stay here in Washington this weekend. He knows what my phone number is. All he has to do is call.”

About not having enough votes to pass a clean CR in the House, despite evidence that this may no longer be the case as ever more Tea-Partiers flip:

Some 21 House Republicans have said publicly that they’re willing to
support a “clean” measure to extend all government funding without other
conditions attached, according to ABC News’ count. That’s apparently
enough, when added to Democratic votes, to pass a bill out of the House.

 

But the speaker disputed that notion: “There are not the votes in the house to pass a clean CR.”

 

“The nation’s credit is at risk because of the administration’s refusal to sit down and have a conversation,” he said. “The votes are not in the House to pass a clean debt limit. And the president is risking default by not having a conversation with us…. We’re not going down that path. It is time to deal with America’s problems. How can you raise the debt limit and do nothing about the underlying problem? ”

Just like to Obama it is all the republicans' fault, so the vice versa is obviously true:

Boehner acknowledged that the showdown over government funding, aimed at scaling back the Obama health care law, isn’t a fight that he chose. He also appeared to confirm that, in conversations with Senate Majority Leader Harry Reid, he had previously sought to ensure full government funding, only to be convinced to take a different course after consulting with his fellow House Republicans.

 

“I and my members decided that the threat of Obamacare and what was happening was so important that it was time for us to take a stand. And we took a stand,” he said. “I thought the fight would be over the debt ceiling. But you know, working with my members, they decided, well, let’s do it now. And the fact is, this fight was going to come, one way or the other. We’re in the fight.”

Finally, and as always, the bottom line is the simple revenue vs spending issue:

Boehner suggested that he’d like negotiations with the president to include entitlement reform. But he ruled out including new tax revenues as part of a deal.

 

“The president got … $650 billion of new revenues on January the 1st. He got his revenues. Now, it’s time to talk about the spending problem,” he said. “Very simple. We’re not raising taxes.”

Which, as the Supreme Court found, is just what Obamacare is.

In conclusion:

STEPHANOPOULOS: So bottom line, you're saying this is your absolute position. If the president continues to refuse to negotiate over the debt limit, if Democrats refuse to continue to negotiate over the government shutdown, the government is going to remain closed and the United States is going to default? 

BOEHNER: The president -- the president, his refusal to talk, is resulting in a possible default on our debt. All he has to do is pick up the phone. This is the most reasonable thing in the world. I think the American people understand, why wouldn't they talk to each other? I'm ready to talk. I've been ready to talk.

STEPHANOPOULOS: When is this going to end?

BOEHNER: If I knew, I would tell you.

The full transcript of Boehner's speech can be found here, and the video of this morning's interview is below.

 

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Sun, 10/06/2013 - 13:09 | 4027756 wisehiney
wisehiney's picture

Nope, plenty dry powder. Let 'em spike!

Sun, 10/06/2013 - 12:59 | 4027727 bugs_
bugs_'s picture

Don't you enjoy this democrat republican war of the roses?  I'm trying to not get excited this time but whoa!!

Sun, 10/06/2013 - 12:58 | 4027728 OwnSilverPlayMusic
OwnSilverPlayMusic's picture

I've got a screen capture from Sept 22 2011 (about 6-7 weeks after the last debt ceiling cluster fuck) Dow 10600 Nasdaq 2160 SP 1110 Gold 1760 Silver 40...Damn that was a good day.  It's a shame the economy got so much better!

Sun, 10/06/2013 - 13:34 | 4027822 Non Passaran
Non Passaran's picture

Good ole times!

Sun, 10/06/2013 - 13:02 | 4027729 Zer0head
Zer0head's picture

NO

he did not grow a pair

in fact he never had a pair (that's the irony of his name)

there is something called the discharge petition that the democrats  put in motion on Friday PM and if it works it will end the shutdown

it needs 218 signatures and there are more than enough Rhinos to achieve that http://thehill.com/video/house/326675-dems-plan-discharge-petition-to-fo...

 

so the answer is that Boehner by talking tough can keep his speakership knowing that thru a procedural "glitch" the shutdown has a good chance of ending

he's giving the teaparty the sleeves off of his vest

Sun, 10/06/2013 - 15:44 | 4028134 I Write Code
I Write Code's picture

Even without that the consensus on "This Week" was that both sides WANT to go to the edge of default, then they'll pass yet another 12-week CR and do the dirty whatever in that timeframe.

So, no discharge yet, because that's no fun.

Anyway, it sounds like a medical condition.

The Tea Party, by being earnest and knowing wtf they are talking about, seems to have finally moved the RINOs into action, whether they understand it or not, and I suppose they don't.

The government (sic) under the Obamanation is already broken, I see no particular downside in the shutdown or default that isn't coming at us already anyhow.

Sun, 10/06/2013 - 12:58 | 4027730 DOGGONE
DOGGONE's picture

Just look at our track records. We have our heads up our asses, and don't know it.
The Public Be Suckered, here:
http://patrick.net/forum/?p=1223928

Sun, 10/06/2013 - 15:47 | 4028145 I Write Code
I Write Code's picture

If that's a new Olympic track event, we'll win gold in the heads up our asses, but there's a lot of competition out there.

Sun, 10/06/2013 - 12:58 | 4027732 Handful of Dust
Handful of Dust's picture

It's shut down?! I didn't notice.

Sun, 10/06/2013 - 13:04 | 4027735 Seize Mars
Seize Mars's picture

The "shut down" was a fraud because various government departments just decided to re-open unilaterally anyways. So the various departments in question (DoD, etc) don't really need congressional oversight to get funding. Right or wrong, that's the situation we're in.

Now I am supposed to believe that without a financing agreement that the Treasury will default? Like they won't just do some "financial engineering" and act unilaterally? Yeah, right. The Federal Reserve is the private consortium that has been the enabler of delusional empire building for 100 years, and their mandate of "help the lowlives stay in power" will somehow take a holiday?

Mr. Boehner, Mr. Stephanopolis, sell your fake left-right bullshit to someone else. I'm not buying it.

As the DoD un-shutdown prooves - beyond any shadow - congress (and the White House) are irrelevant.

Sun, 10/06/2013 - 14:00 | 4027897 Bay of Pigs
Bay of Pigs's picture

+1. Sums it up perfectly.

Sun, 10/06/2013 - 16:44 | 4028269 jerry_theking_lawler
jerry_theking_lawler's picture

there is no default option....we have 'revenues' that outmatch 'mandatory' spending....just .gov will be paying debt and SS and a few other mandatory programs....all would be cut, but there is no need of default. That is just .gov speak to do what it wants, or else.

Sun, 10/06/2013 - 13:00 | 4027737 MFLTucson
MFLTucson's picture

Yes Mr. Snuffleupagus  the man that you and the rest of the media helped to take over America is getting ready to have us default on our debt.  Great Job!

Sun, 10/06/2013 - 13:10 | 4027763 maskone909
maskone909's picture

Hahahahha

Sun, 10/06/2013 - 13:38 | 4027831 Mike in GA
Mike in GA's picture

The media has become the Propaganda Ministry and as such have chosen sides in the revolution.  Choose your targets wisely.

Sun, 10/06/2013 - 13:01 | 4027739 Duc888
Duc888's picture

Go ahead.  Default. Fedgov could use a 70% haircut.

Sun, 10/06/2013 - 17:28 | 4028372 The Navigator
The Navigator's picture

90% haircut more to my liking ;->

Sun, 10/06/2013 - 13:02 | 4027744 djsmps
djsmps's picture

Pardon me if I don't want to watch George Stephanopolis.

Sun, 10/06/2013 - 13:03 | 4027748 Reptil
Reptil's picture

Gold smackdown in 3, 2, 1, ...

Sun, 10/06/2013 - 13:04 | 4027751 LawsofPhysics
LawsofPhysics's picture

He's about 40 years too late.  Roll the motherfucking guillotines and execute every last one on K-street and inside the beltway.

Sun, 10/06/2013 - 13:06 | 4027752 10mm
10mm's picture

Default, we all default.

Sun, 10/06/2013 - 13:06 | 4027753 William.M.Tweed
William.M.Tweed's picture

Boehner concludes the interview proposing that congress and the President should be locked in a room with this song http://youtu.be/pt8VYOfr8To blasting on an endless loop until they reach an agreement

 

The appearance of the law must be upheld, Especially when it's being broken

Sun, 10/06/2013 - 13:09 | 4027755 maskone909
maskone909's picture

Hell yeah if this doesnt take the s&p through the 200dma i dont know what will!! Ive been trying to short this bitch for ever now looks like we are set o go

Sun, 10/06/2013 - 13:08 | 4027759 poseidon
poseidon's picture

Oh shit - rally on Monday for sure now.

Gold is going to get slammed again.

Sun, 10/06/2013 - 13:28 | 4027762 worbsid
worbsid's picture

If I were Boehner, I would cut through the BS and put a clean CR to a full house vote.  He can't have every news media saying "A clean CR would pass the House if Boehner would put it to a vote." then OTOH Boehner saying the votes are not there.  One or the other is wrong (lying) and so IMHO it is time to put up or shut up.  Debt ceiling is something else and certainly Obamacare is something else also.     

Sun, 10/06/2013 - 13:55 | 4027882 CrashisOptimistic
CrashisOptimistic's picture

A possible solution is for Obama to acknowledge the difficulties in the exchange rollout and announce that a 1 year delay is forced on him by the reality that the rollout just isn't ready.

The 1 year delay would give the House what it wants and problem solved -- provided they don't bust the Sequester.

Sun, 10/06/2013 - 17:57 | 4028463 Geruda
Geruda's picture

Stupid.  If not having a full time battle with stupids to be having implement of the law but instead  using energies  in  cooperation with inteliigences there would be less problems we are having.  Republicans like many other advances made by their opposition are having proof they can make any good plan go bad if they are being stupid enough.  

Sun, 10/06/2013 - 19:43 | 4028743 Encroaching Darkness
Encroaching Darkness's picture

You trying to imitate Boris? Try harder.

"proof they can make any good plan go bad"  You think ObamaCare is a GOOD plan? Turning your doctor into a slave / spy for the government? Rationing healthcare by bureaucrats without accountability? Government takeover of x% of the economy, in addition to the parts they're already mismanaging?

"instead  using energies  in  cooperation with inteliigences" Instead of being obedient yes-men to the White House, Senate Majority and DNC? Where do you find any "intelligences" in that lot?

Massive fail. Go back to sleep, Geruda, no value added in that comment of yours.

Sun, 10/06/2013 - 13:12 | 4027766 surf0766
surf0766's picture

The ceiling will be raised. Just like they will never ever tapper. The only problem now is that an increase in the debt ceiling will be another downgrade.. Opposite to what the taking heads think

Sun, 10/06/2013 - 13:13 | 4027767 10mm
10mm's picture

DHS Insider (Rosebud) called this one. So far it has legs.

Sun, 10/06/2013 - 13:14 | 4027768 dogmete
dogmete's picture

Here are two things we know to be true:

We ain't gonna default.

Boehner has a fake tan.

Sun, 10/06/2013 - 13:17 | 4027778 Seize Mars
Seize Mars's picture

"We?"

They default every time they engage in QE, idiot.

Instruction:

1) Take out a bank loan.

2) Send them 90 cents on the dollar.

3) Watch what happens.

It's called "default." Paying back with dollars that have smaller purchasing power is default. They default continuously.

Sun, 10/06/2013 - 13:39 | 4027839 maskone909
maskone909's picture

Hey hey hey now after all he did acknowledge the tan. Btw your both wrong! Its not a default until the creditors come calling.

Sun, 10/06/2013 - 14:14 | 4027925 10mm
10mm's picture

.90 cents on the dollar, your generous. Fuckin .10 cents.

Sun, 10/06/2013 - 17:09 | 4028320 dogmete
dogmete's picture

Hm, never heard that "called" default. Ron Paul calls it a hidden tax, but I'd call it a rip off of anyone who owns dollars.

 

That said, Seize Mars dude, if you're expecting any sort of "event" on the 17th you're going to be disappointed, that was my point. This is just another media show that will amount to ZILTCH.

Sun, 10/06/2013 - 13:13 | 4027770 dojufitz
dojufitz's picture

Did he ask if the dollar could be devalued against the Gold the US has - to make the joint solvent?

Sun, 10/06/2013 - 13:15 | 4027771 tuttisaluti
tuttisaluti's picture

Lock them all in one room, then lock the bath rooms and don't open until they come to a agreement....

Sun, 10/06/2013 - 13:15 | 4027775 surf0766
surf0766's picture

That always results in the progressive agenda fucking everyone

 

Sun, 10/06/2013 - 14:50 | 4028003 Clever Name
Clever Name's picture

And thats different from any other situation how exactly?

Sun, 10/06/2013 - 16:30 | 4028246 Millivanilli
Millivanilli's picture

Not a solution since  politicians can live indefinitely with their heads up their asses.

Sun, 10/06/2013 - 17:34 | 4028382 The Navigator
The Navigator's picture

"Lock them all in one room, then lock the bath rooms and don't open"

EVER

Then, do the same with the other 2 branches.

Sun, 10/06/2013 - 13:13 | 4027772 alfbell
alfbell's picture

 

 

The only thing we need is our military (to defend us, not for imperialism) and to keep the country's infrastructure in shape (interstates, bridges, tunnels, etc.). You can shut down the rest of the government. We don't need it. The states can all take care of themselves. And they'll get rid of The Fed as well.

Sun, 10/06/2013 - 13:56 | 4027884 Meat Hammer
Meat Hammer's picture

We don't need an active military, we need reservists in the form of everyday people who will pull out their rifles, dust off the aircraft carriers and tanks, and defend their country when and only when we are attacked.  

In the meantime, keep the radar on but shut the rest down.  I don't go hunting for burglars in my neighborhood, but when one decides to jeopardize the safety of my family, he'll wish he hadn't.

Sun, 10/06/2013 - 15:00 | 4028024 Peachfuzz
Peachfuzz's picture

Judging from that brainy supply contagion article I read earlier, I'd say we just need a 7 day trucker strike to solve this one. Support the Truckers!!!

Sun, 10/06/2013 - 15:26 | 4028083 chemystical
chemystical's picture

after the truckers call off the strike will Uncle Fed give them backpay and unemployment benefits (and expect them to repay the unemployment benefits if they receive backpay, but with a toothless mechanism to enforce that repayment?)

what a fustercluck in DC: 

  • paid vacations for hundreds of thousands of workers whose lack of utility becomes more apparent with every passing day
  • bailouts for the above workers because 'they had no part in causing the shutdown and do not deserve to be punished for it'.  (paraphrased from dozens of congresspersons who uttered it with a straight face).  might as well bail out all the private sector workers who've been displaced due to their workplaces expatriating.  Oh wait, 99 weeks; i forgot.  At least they paid into an unemployment system
  • a non-existent debt ceiling.  if the issuance of more debt is rubberstamped every time Uncle needs to spend beyond its needs, then why bother having the legislation in the first place?  Is it there solely to keep them from overspending too quickly and so wealth can be looted slowly and "quietly"?  (thinks of replacing 'like a drunken sailor' with 'like a traitorous piece of shit')
Sun, 10/06/2013 - 13:15 | 4027773 UP4Liberty
UP4Liberty's picture

The longer the government is shut down, the less damage it can do to us.

Sun, 10/06/2013 - 17:51 | 4028444 Geruda
Geruda's picture

Stupid.  The longer you are not having food, the less shyt you produce.  Then you die.  Stupid.

Sun, 10/06/2013 - 19:24 | 4028695 BidnessMan
BidnessMan's picture

True if you are a moron with only 3 days of food in the fridge....  

This is like the two guys and the bear. Don't have to outrun the bear - just have to outrun you.  The average person - if they think at all - thinks grocery store food supply chain logistics comes from God, and has not seen a grocery store 12 hours before a Hurricane landfall.  

Expect the average ZH'er can make it past at least two missed EBT card recharge cycles, and will be hunkered down 100+ miles out of harm's way when inner cities explode to start the Great Reset.  A month or two later those boating accident recovery dives will be very useful.

Sun, 10/06/2013 - 13:17 | 4027779 tradewithdave
tradewithdave's picture

You didn't build that path we're on.

Sun, 10/06/2013 - 13:16 | 4027780 JR
JR's picture

This is the time; it is the people versus the bankers.

Exactly like Pat Buchanan puts it: “If national polls are to be believed, those House Republicans are doing exactly what America wants. A majority of Americans oppose a government shutdown. And a majority oppose Obamacare.

“Who, then, is preventing the government from being funded? Harry Reid and Barack Obama. Neither will accept any continuing resolution that does not contain Obamacare. Both will shut down this city rather than accept CR.”

Jack Lew is carrying the talk show torch, not for the nation he represents as Secretary of the Treasury, but as the hand-picked Goldman Sachs representative for the private owners of the Federal Reserve Bank. It is not the people who are worried about a default. It is the crooked bankers.

And the maddening, disrespectful, belligerent lies and charges coming from the President of the United States have caused what he least needed: the Republicans have dug in and they are going to beat him. You can hear it in Boehner’s voice.

Sun, 10/06/2013 - 13:43 | 4027844 Mike in GA
Mike in GA's picture

And Jack Lew was Obama's chief of staff just a few months ago. No bias there. 

Sun, 10/06/2013 - 14:17 | 4027926 DoChenRollingBearing
DoChenRollingBearing's picture

Your comments have been superb, JR.

Sun, 10/06/2013 - 20:55 | 4028960 lakecity55
lakecity55's picture

+1!!!

Sun, 10/06/2013 - 21:51 | 4029111 butchtrucks
butchtrucks's picture

 

.. the Republicans have dug in and they are going to beat him. You can hear it in Boehner’s voice.

LOL.  I hear the voice of an alcoholic buckling under the pressure.

Wed, 10/16/2013 - 17:37 | 4062436 WallowaMountainMan
WallowaMountainMan's picture

oops....never mind

Wed, 10/16/2013 - 17:40 | 4062456 WallowaMountainMan
WallowaMountainMan's picture

posting placement is all fowled up...sorry for the repeats..

Tue, 12/03/2013 - 11:52 | 4210124 WallowaMountainMan
WallowaMountainMan's picture

"the Republicans have dug in and they are going to beat him. You can hear it in Boehner’s voice."

 

how did that forecast work out for you there, jr ?

 

:)

Sun, 10/06/2013 - 13:19 | 4027783 NoelConfidence
NoelConfidence's picture

ahem... what you mean "our debt"?

Sun, 10/06/2013 - 13:20 | 4027787 Seasmoke
Seasmoke's picture

Perhaps Boehner has been the greatest poker player of all this time. Fold fold fold and then All In Trap. It's not like he is up against an intelligent opponent. 

Sun, 10/06/2013 - 14:18 | 4027933 DoChenRollingBearing
DoChenRollingBearing's picture

Interesting idea, + 1

Sun, 10/06/2013 - 13:20 | 4027789 I am Jobe
I am Jobe's picture

SHUT THE FUCK DOWN

IRS

FEMA

TSA
DHS

NSA
CIA

BLS

State DEPT

DOT

Education

and countless more. Fuck this shit no more fucking handout period. Pay the SS to the folks who have paid into and shut the fucker down.,  

Sun, 10/06/2013 - 13:57 | 4027889 tsuki
tsuki's picture

You forgot the War Department. 

Sun, 10/06/2013 - 13:22 | 4027793 Fix It Again Timmy
Fix It Again Timmy's picture

The One thing I am absolutely sure of is that the system is falling apart and cannot be fixed; we all know where things go when they absolutely, positively, beyond any shadow of a doubt, CANNOT be fixed.....

Sun, 10/06/2013 - 13:21 | 4027796 Al Capowned
Al Capowned's picture

Got to have a bit of pantomine to pretend that the debt ceiling wont be hiked, just like the pantomine over the tapering, the end result will be the same , I am guessing debt celing of 18.3 to 18.8 trillion.

Sun, 10/06/2013 - 14:53 | 4028009 Clever Name
Clever Name's picture

18, 50, 100, whats the difference? Oh right, we would miss this show once a year.

Sun, 10/06/2013 - 13:27 | 4027803 Winston Smith 2009
Winston Smith 2009's picture

Boehner Says We Are "On The Path To Default"

Oh, BS.  Eventually if we continue the general path we're on, but not near-term due to this budgetary battle.  Even David Stockman points out there are all kinds of games that can be played to prevent default... for now.

Sun, 10/06/2013 - 14:02 | 4027899 Buckaroo Banzai
Buckaroo Banzai's picture

"Default" means you can't pay the interest on your debt. We have more than enough tax cash flow to do that.

Sun, 10/06/2013 - 18:47 | 4028600 HardlyZero
HardlyZero's picture

There may not be "default" but there will be massive cuts in spending.

If negotiated the spending cuts might be more civilized and controlled.

If we hit the limits, then the cuts will be brutal and terrible.

Either way the spending ($700B deficit this year) must come down !

Major rubicon just ahead.

Sun, 10/06/2013 - 22:05 | 4029167 Paveway IV
Paveway IV's picture

How's that working out so far for those Greek guys?

Sun, 10/06/2013 - 16:47 | 4028273 jerry_theking_lawler
jerry_theking_lawler's picture

but he is on the right 'path'...the default will come when we run up even more debt and then the interest rates rise (or God forbid, skyrocket)....it would not take much of a rise and BAM, we would go into 'Default'....because we will not be able to afford debt payments along with .gov.

Sun, 10/06/2013 - 13:27 | 4027805 alfbell
alfbell's picture

 

 

The bankers run the show and will get exactly what they want, despite the collateral damage. They will eventually do themselves in, but that may take awhile. We the people could do them in immediately if we all understood what was going on and acted in concert to protest by... stopped paying on our debts... stopped taking out loans, financing cars, etc.... stopped using credit cards... went to the banks and requested our cash in deposit... stopped paying our taxes, etc. etc.

Sun, 10/06/2013 - 17:52 | 4028452 Encroaching Darkness
Encroaching Darkness's picture

" went to the banks and requested our cash in deposit."

Been doing this for a while now. Every Friday, go in and take $1000 out. Sometimes I hold it as cash (risky), sometimes buy silver / gold, sometimes supplies, but not leaving it in the bank any more than necessary to pay operating expenses (to those still foolish enough to accept FRNs to pay off debt).

Since "they" have decided that the FDIC is empty / unsustainable, and now deposits make you an unsecured creditor of the bank, there's no real interest being paid on deposits and chaos is growing, why keep money in a bank? Put it somewhere in YOUR control, not the bank's; they do not have your best interests in mind.

Paying off the credit cards, paying down the mortgage, not buying crap just to buy bright shiny objects that entertain (I'm not REALLY a magpie at heart). My cars are both over ten years old now, no car payments. My house note is at 4.5%, paying it down in useless FRNs makes sense. We'll see about taxes next year, the show might be over by April.

Keep your eyes open, keep stacking, keep it up. "They" will collapse before we will.

Sun, 10/06/2013 - 13:32 | 4027818 XRAYD
XRAYD's picture

It's time for a pay-per-view "conversation" on TV with Bohener and Obama. 11 rounds!

Sun, 10/06/2013 - 13:32 | 4027819 TrustWho
TrustWho's picture

This clusterfuch of a government must be worth a positive 100 S&P points on Monday.
Print More Daddy Bernanke!!!!!!

Sun, 10/06/2013 - 13:37 | 4027833 andrewp111
andrewp111's picture

Obozo wants a default. That is why Obozo is so giddy and happy. He is encouraging a big stock and bond crash that would allow him to declare an emergency, outlaw the Republican Party, lock up its House members, and hold managed special elections.

Sun, 10/06/2013 - 13:46 | 4027865 Uncle Remus
Uncle Remus's picture

That's a shitstorm that really hasn't been thought through very well. Mind you, they think they've thoroughly thought it through.

Sun, 10/06/2013 - 13:57 | 4027881 wisehiney
wisehiney's picture

Looks like both teams want that old - let it default, let the chips fall where they may - deal. If that happens there will be many formerly restrained, nothing left to lose, angry folks, going hunting. oBUMMER weasel may want to rethink.

Sun, 10/06/2013 - 14:20 | 4027934 dexter_morgan
dexter_morgan's picture

Sadly, you are probably closer to reality than you really think........

Sun, 10/06/2013 - 13:42 | 4027845 q99x2
q99x2's picture

Bring on the default. Remove the parasite. Bankrupt the TBTF and imprison Blankfein, Dimon and Bernanke.

This would be a good time. The CIA, NSA, DHS and FEMA aren't fully prepared to kill us on behalf of the central banks yet.

Sun, 10/06/2013 - 13:46 | 4027856 Uncle Remus
Uncle Remus's picture

WTF is Bonehead doing talking to that weasil Stephanopolous anyway?

Sun, 10/06/2013 - 15:25 | 4027967 akak
akak's picture

God I can't stand that smug, pro-nanny-state bastard Stuffalottapus.

Sun, 10/06/2013 - 20:50 | 4028950 lakecity55
lakecity55's picture

Hey, he's Bath House' #2 man when Reg is outta town!

Sun, 10/06/2013 - 13:45 | 4027858 Michelle
Michelle's picture

WE'RE GOING TO DEFAULT? Isn't that statement a bit late? Didn't the default happen when we went off the gold standard? Maybe we should call it "a highly dilutive repayment plan via the printing press."

Sun, 10/06/2013 - 13:46 | 4027860 traderjoe100
traderjoe100's picture

omg! i LOVE this guy!

 

Sun, 10/06/2013 - 13:46 | 4027861 Dr. Bonzo
Dr. Bonzo's picture

Shit... for a second I thought he was gonna grow a pair and actually say, "We're on the path to Default... it's time for us to stand and admit we're broke and declare a default...."

Hahahahahahaha.... sorry, moment of silliness.

 

 

Sun, 10/06/2013 - 13:52 | 4027876 GoldIsMoney
GoldIsMoney's picture

I disagree, you are not on the path you are bankrupt. But still most do not believe in that yet. Anyway I never have seen any suggestion on how to avoid the final break down. The debts are there and they  are raising faster then ever. So from where should the change come?

Sun, 10/06/2013 - 13:55 | 4027886 GrinandBearit
GrinandBearit's picture

The math is indisputable.  There is NO way out of this.

It MUST collapse.

 

Sun, 10/06/2013 - 13:57 | 4027888 dark_matter
dark_matter's picture

A nation defaults on its debt slowly, then all at once.

Sun, 10/06/2013 - 14:54 | 4028013 Clever Name
Clever Name's picture

Fed steps in and writes off all US government debt.

Problem solved!

Sun, 10/06/2013 - 13:56 | 4027879 alfbell
alfbell's picture

 

 

The new normal now, what has become standard policy, and what will continue on until the whole system collapses, is... QE; welfare; unusual, irregular and illegal monetary and fiscal policies; war mongering; bread and circuses; government corruption and theft on all levels federal, state and municipal; a complete disconnect from reality and truth. Eventually they'll all be hammered by REALITY (the true laws of economics, sociology, production, exchange, wealth and prosperity) and the house of card will come tumbling down.

Gulp! Gonna be very disruptive and very messy.

Sun, 10/06/2013 - 14:06 | 4027907 f16hoser
f16hoser's picture

Boner does have a nut. Soon we'll see if he has two.... Obama's Temper Tantrums are absolutely hilarious! Obama is a Gay Little Weasel. He probably got Bitch-Slapped everyday in grade school. Back in Kenya that is.

Sun, 10/06/2013 - 15:09 | 4028042 Orly
Orly's picture

Wrong!

He was in Indonesia when he was in grade school.

:/

Sun, 10/06/2013 - 15:09 | 4028046 Uncle Remus
Uncle Remus's picture

Meh....semantics.

Sun, 10/06/2013 - 14:08 | 4027909 JFKFC
JFKFC's picture

The shutdown and the showdown will both end the day that JPM releases it's earnings. The news of one of the shittiest Q's in JPM's history will be overshadowed by BTFATH because everything is resolved in Washington.
Wait for it. If no deal by Thursday's 3:30 ramp, I'll be going long SPX for Friday.

Sun, 10/06/2013 - 14:16 | 4027928 Downtoolong
Downtoolong's picture

Hello S&P, Moody’s, Fitch, anybody home?

This should be good enough for at least a two-step downgrade tomorrow, don’t you think?

Come on, why not? You know it will be fun and funny watching Bernanke try to print his way out of that.

QE $Trillion per month and DOW 50,000, here we come.

Sun, 10/06/2013 - 14:17 | 4027932 world_debt_slave
world_debt_slave's picture

I'll believe when I see it, talk is cheap.

Sun, 10/06/2013 - 14:21 | 4027937 Gadfly
Gadfly's picture

The Reign of Morons is upon us.

http://www.esquire.com/blogs/politics/Shutdown_Blues

Sun, 10/06/2013 - 14:22 | 4027939 Atomizer
Atomizer's picture

Looks like there is some serf resistance to this nanny state approach in caring for slaves from sucking tit to grave ideologies.

Sun, 10/06/2013 - 14:24 | 4027943 Atomizer
Atomizer's picture

The think tanks predicted everyone would run in open arms.

/lol

Sun, 10/06/2013 - 14:34 | 4027971 Debt Slave
Debt Slave's picture

It's hard to believe that this isn't all theatrics. But we know what Obongocare is and is going to be, so I will be sending a message of encouragement to Mr. Boehner and my representative, for what ever it may be worth. If they don't hear from us they will think we don't give a damn and cave into the marxists.

It is important that people realize that ALL democrats are marxist bolsheviks, and marxism is the worst plague ever unleashed upon mankind.

Sun, 10/06/2013 - 14:50 | 4028004 Atomizer
Atomizer's picture

Mr. Boehner will cave. We're at the word game stage.

Sun, 10/06/2013 - 15:38 | 4028126 hootowl
hootowl's picture

......Except for the murderous militant political ideology masquerading as a religion............Muscumery/Islam.

Sun, 10/06/2013 - 17:45 | 4028435 Geruda
Geruda's picture

You should be having carefulness because encouragement from stupids can be discouragement.

Sun, 10/06/2013 - 14:36 | 4027977 dexter_morgan
dexter_morgan's picture

Is Boner serious about this? I hope he is......but I have a hard time trusting this guy unless he's been playing 'rope-a-dope' the last couple of years.........

Sun, 10/06/2013 - 15:40 | 4028127 Zer0head
Zer0head's picture

is Boner serious??

 

he's an effing caveman coward who will only lead the charge when he knows the enemy is about to get neutroned and that is exactly what happening.

he's gambling that the dem petition (a  procedural loophole that is below the radar) that was introduced on Friday, something that would end the shutdown, is going to pass

so with that in his hip pocket he's able to present himself as the reborn leader of the tea party comfortable in the knowledge that the shutdown and likely debt ceiling is solved

Sun, 10/06/2013 - 14:38 | 4027978 Miss Expectations
Miss Expectations's picture

It occurs to me that absent all the "glitches" on most of the Obamacare Federal AND State exchanges, many many more millions of Americans would know the price that they are going to have to pay for healthcare....AND FREAK OUT. They rarely get to the point on the exchanges where they can review the plans and costs.  How hard would it be to keep the glitches alive until Obamacare gets funded?  I think that millions of Americans are being kept in the dark intentionally.  NOT one exchange is functioning well.  Must ask why.

Sun, 10/06/2013 - 14:43 | 4027991 dexter_morgan
dexter_morgan's picture

Waddaya saying - our gubmit would mislead its citizens?

Sun, 10/06/2013 - 15:05 | 4028031 involuntarilybirthed
involuntarilybirthed's picture

it would be misleading us toward leading us to those that are misleading us and exposing their misleading efforts.

Sun, 10/06/2013 - 14:58 | 4028017 involuntarilybirthed
involuntarilybirthed's picture

Agree the Repub should let it continue on the bet that it will expose the clusterfuck.

or

are the Republicans really trying to protect us from its destructive chaos?

Sun, 10/06/2013 - 15:36 | 4028115 hootowl
hootowl's picture

Great point Miss.  Another great deception.  If the sign-up websites were functioning correctly, there would be a huge explosion of disgust and anger at what the American people have yet to discover about this OvomitCare boondoggle.

There is a lot more to be angry about than just the cost of the insurance and the debasement of medical care.  There are lost liberties, loss of privacy, and the incredible imposition of fines and imprisonment on those who conscienciously object and will not comply with the tyrannical thuggery that will be excreted from 16,000 new jack-booted, armed, psychopathic storm troopers that will be fielded from the fetid, diseased, bowels of the IRS.

Sun, 10/06/2013 - 17:45 | 4028417 Geruda
Geruda's picture

The angries the Americans should be having is because the stupids in congress were having us to be buying medical insurance through private companies who are taking very much of our health care monies for their own selfs.   The republicans would not be having us to be a single care provider system which would be having the cost of the health care system to be much cheaper.   The stupids in congress were having the law to be making sure many peoples who are not health care peoples would be getting much money to be intermediate agents.   It is like the way Americans are paying 9 big banks very much monies to be printing monies for the government when the government could be printing the monies their ownself. Almost all Americans are too stupid to be knowing these things and many people on ZH are the stupidest Americans of all because they are not seeing how little powers any but the banks are having and even if Mitt Romney was being the president the Americans would be having bad screwings even more bad, like when the President who was cheney was making things be his way.

Sun, 10/06/2013 - 19:49 | 4028770 Encroaching Darkness
Encroaching Darkness's picture

An illiterate, overpaid Government troll on furlough pay. Find someone stupid enough to believe you, and ask them to pay your salary. I'm tired of supporting your nonsense already.

Sun, 10/06/2013 - 17:33 | 4028370 Geruda
Geruda's picture

If the republockans are having as many energies to be having a better system as they are having to be destroying a law they are too stupid to be stopping we would be having a better system.   The stupids are only trying to be having a self-fulfilling by sabotaging what they are not having the intelligences to be making better.   The pictures I am seeing of Cruz are making me be having sick feeling in my stomach.   He is being like a man who is at a door having a vacuum sucker who will not be leaving even when I am shutting my door.  Why do Americans have liking for so many stupids?  Because THEY are stupid is the answer i am thinking.

Sun, 10/06/2013 - 19:08 | 4028651 NemoDeNovo
NemoDeNovo's picture

You are either an Idiot, Illeterate or 9 years old........

Sun, 10/06/2013 - 21:14 | 4029009 akak
akak's picture

You overlook the very real possibility that he is all three.

Sun, 10/06/2013 - 21:03 | 4028979 hoos bin pharteen
hoos bin pharteen's picture

Ananonymous' evil twin?

Sun, 10/06/2013 - 21:17 | 4029014 akak
akak's picture

Yes.

They are both joined at the citizenism.

Make me laugh.

Sun, 10/06/2013 - 14:38 | 4027979 lasvegaspersona
lasvegaspersona's picture

inevitable 

No one dares say the word. We should be preparing the population. But that would mean admitting all kinds of unpleasant truths and no one is brave enough even though some know.

Sun, 10/06/2013 - 14:48 | 4027999 chemystical
chemystical's picture

 

 

I'm a scientist and not an economist, however:

  Hitler said, “For every mark issued, we required the equivalent of a mark’s     worth of work done, or goods produced.”

...sounds like something the thin-air fiat creators and distributors would fear (and go to war against).

 

Sun, 10/06/2013 - 14:49 | 4028006 W74
W74's picture

Default would be a dream come true.  At this point I only support chaos in the markets and banking system.

Maybe I really am one of the anarchists Harry Reid keeps talking about ("We need more control!!!!").  I need to be put under wraps and spanked by the government paddle.

Sun, 10/06/2013 - 15:01 | 4028025 Cman5000
Cman5000's picture

I have a feeling they way let it burn no one will remember John Boehner name but they will remember Obama if this goes under. We either have a orderly default or we have a disorderly default, collapse and depression. Stay tunned ?

Sun, 10/06/2013 - 15:10 | 4028035 dexter_morgan
dexter_morgan's picture

Strategery

http://buchanan.org/blog/sadistic-strategy-obama-reid-5923

"Undeniably, Republicans have voted to defund Obamacare, to suspend it for one year, and to reform it. But in each of these three votes, the House also voted to fund the entire government.

Why, then, is the government shut down? Because Harry Reid and Barack Obama have issued an edict: Either Obamacare is fully funded and untouched in the continuing resolution, or we kill the CR, shut down the government, and blame you."

Sun, 10/06/2013 - 18:20 | 4028038 akarc
akarc's picture

Boner is Cantors Pussy. Cantor is the appropriately named Koch brothers pussy. Obamas colors were shown when he named Jeffery Immelt job czar.  This nothing more than corporate warfare and we are the canon fodder.  The true enemy is rarely found while seeking confirmation bias.  

It is the the total voting age population of the U.S. going back years that is responsible for this mess. 

Sun, 10/06/2013 - 15:10 | 4028045 involuntarilybirthed
involuntarilybirthed's picture

Moar Obama legacy:  glitches

Sun, 10/06/2013 - 15:15 | 4028056 involuntarilybirthed
involuntarilybirthed's picture

I don't know about the rest of you but I'm going straight cash dollars before they print new ones that are worthless.

Sun, 10/06/2013 - 17:22 | 4028358 putaipan
putaipan's picture

yeah. that's what worries me ..... a month ago those new 100's were still experiencing 'technical difficulties' .... now all the sudden they are good to go. and i really don't understand why nobody seems to be making the connection.

Sun, 10/06/2013 - 17:24 | 4028365 Keyser
Keyser's picture

I'm sitting in cash, just waiting to go short when the market tanks this week. 

 

 

Sun, 10/06/2013 - 15:18 | 4028069 syntaxterror
syntaxterror's picture

C'mon motherfuckers! Spend yourselves outta debt! Works every time! Spend, borrow, spend, borrow, and spend more!!!

Sun, 10/06/2013 - 15:19 | 4028071 mrdenis
mrdenis's picture

the wrong guy burned himself to death............

Sun, 10/06/2013 - 15:29 | 4028096 akak
akak's picture

Yes, Boner definitely has the better tan.

It's the inevitable result of daily face-to-face meetings with Lucifer.

Sun, 10/06/2013 - 16:36 | 4028258 Escapeclaws
Escapeclaws's picture

With a root canal and a straw hat, he'd be all set!

Sun, 10/06/2013 - 15:31 | 4028108 dexter_morgan
dexter_morgan's picture

2 big problems we have in this country. We have many, but fixing these 2 would go a long way to changing things if it's not too late already.

1 - constitutional amendment to force congress to abide by all laws they pass. When the fuck did it become acceptable to exempt themselves anyways?

2 - a curious and inquisitive press that doesn't just publish talking points from party headquaretes. No idea how to fix that one though.

How do achieve an unbiased media? Don't really know, but do know what we have generally isn't.

 

Sun, 10/06/2013 - 15:51 | 4028154 Zer0head
Zer0head's picture

I would like to think #2 would do it but there is a greater sickeness that afflicts America

the people of walmart

 

Sun, 10/06/2013 - 17:33 | 4028388 Tegrat
Tegrat's picture

How about an amendment that says that the prezident must follow the constiution to the letter or be publicly stoned to death?

 

 

Sun, 10/06/2013 - 15:52 | 4028153 lolmao500
lolmao500's picture

Yeah right. Boner is a lying scumbag. He will cave.

Sun, 10/06/2013 - 15:56 | 4028160 GoldRetriever
GoldRetriever's picture

Boehner brings a whole new meaning to the word TANtric.

Boehner and his ilk- on both sides - have been slowing fucking the American people with no pleasurable ending in sight!

 

Sun, 10/06/2013 - 15:57 | 4028170 pcrs
pcrs's picture

Like he ever cared when he was spending the money of the tax slaves and their unborn.

Sun, 10/06/2013 - 16:00 | 4028176 theprofromdover
theprofromdover's picture

Well Boner, you could start by cancelling all the pork deals from the past 5 years.

Sun, 10/06/2013 - 16:06 | 4028189 LawyerScum
LawyerScum's picture

Just listening to these scumbags makes me feel dirty and in need of a shower.

Sun, 10/06/2013 - 17:17 | 4028342 Geruda
Geruda's picture

The words you are having about the stupids who are talking here on ZH is the same as I am having in my head.  I am having many agreement with the words you are saying.  Many stupids are making me be feeling dirty and having a need to be taking a shower too.

Sun, 10/06/2013 - 21:24 | 4029024 akak
akak's picture

Forget the shower, you third-world barbarian --- go wash your dung hand instead.  That's BEFORE you return to your streetside chapati stand.

Sun, 10/06/2013 - 16:09 | 4028194 Yen Cross
Yen Cross's picture

  Bloomturd still has this article listed as a top headline from Friday. And people wonder why no one trusts the MSM.

  U.S. Stocks Rise as Optimism Grows Over Ending Impasse - Bloomberg

 

Sun, 10/06/2013 - 16:09 | 4028198 earleflorida
earleflorida's picture

'The Raping of the Political`lie, Irradiated 90%!'

Classic... 'Constructive Ambiguity', where one's (GOP/or) ways are correct and the other('s [Dem's/or]) is totally wrong... when, in reality they never part their ageless symbioses existence too outsmart indifference, honing statutory libertanian ( lowest sperm-count per semen 'cubic' denominator?) paranoia, this raping of thine proletariat !?!

Who benefits:    Homour... indeed,  yes/no???  Bloody`Period!!!

Ref:  "Obama Ducks Out of Asia (ASEAN) Trip and Planned Meeting with Putin (Bali- Syria/Iran)"  10/5/13       http://larouchepac.com/node/28424

Ps.  the best thing for the 90% now, is for this country to go into a massive default and loose our hegemony status, that ironically only has helped the 1%-5% progressively, with the other 5% riding the governments largess since 1913, period!     jmo  

thankyou,   Tyler 

Sun, 10/06/2013 - 16:13 | 4028207 geewhiz
geewhiz's picture

What to make of this complex Sherlock Holmes drama that the world economy has become.

Could it be that instructions from the ruling shadows say its time to dramatically and suddenly trim their own government beast, stop printing and save their fiat money product (how could they ever want to trade that for hard free market money), purchase assets at bargain prices when multiple asset bubbles burst after the credit contraction, and then see those assets rise in their hands as the economy really recovers. They understand the imperative of freeish markets to wealth creation. How are they to get wealth to transfer if the livestock doesn't produce it? Our job is to be slaves who think we are free and so create wealth, their job is to manipulate our perceptions and transfer the wealth we create to themselves.

Sun, 10/06/2013 - 16:31 | 4028242 lindaamick
lindaamick's picture

Personally I am thinking this might be theater (we all know Dems and Repubs agree on everything important like war, bowing to corporations and the rich, insider trading, eliminating SS and medicare etc) to hide the fact that the Obamacare websites are not working AT ALL. 

You can try accessing the federal marketplace day or night and the system is always "Unavailable". 

 

Sun, 10/06/2013 - 16:35 | 4028252 AgShaman
AgShaman's picture

"We republicanz must negotiate with the democrats"
Left right left right left right left right.
All you serfs please remain calm and enjoy the paradigm constructed to ensure your perpetual state of slavery

Sun, 10/06/2013 - 16:34 | 4028254 Oquities
Oquities's picture

we have been "ON THE PATH TO DEFAULT" since 1913!

Sun, 10/06/2013 - 16:38 | 4028260 Road Hazard
Road Hazard's picture

Man, this place never ceases to amaze me. You folks on here spend alllllllllll year bitching about the joke of a government we have and how you can't wait for the USD to collapse. Now that we're "on the verge" of that actually happening (ahhahahahaha, yeah right), you all run like scared little children crying for you mom with quotes like, "why is obummer being a hard ass"...."it's pathetic that politicians will let our credit rating slip"....."boner needs to grow a spine", etc., etc. For the morons out there, let me get out my crystal ball and tell you how it ends. In the 11th hour, minutes before midnight, a deal WILL be struck so everyone can save face. With slogans from both sides of the puppet theater like, "We put aside our differences and did what's right for the country"....."We can't let countries around the world think we're not capable of balancing our budget" and on and on. Everyone on here will then go back to bitching about what a sham our economy is and had we need to end the fed, default on our debt etc., etc. Newsflash idiots...... ALL politicians are fucking pieces of shit and are just playing their parts with big talk and no action. It's all part of the play. When are you fuck'tards on here gonna figure that out? This is no blaming one side or the other.......they're the same fucking party! They all represent god's chosen people and their strings pulled by the banking cabal. You're such sheep.

 

Sun, 10/06/2013 - 16:58 | 4028296 geewhiz
geewhiz's picture

Baaahh ; )

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