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Jack Lew Ominously Warns "The World Counts On The US To Be Responsible"
Forget about the headlines, the most concerning statement from the entire circus of Jack Lew's hearing was his comment that the world counts on the US to be responsible. It seems that boat sailed a long time ago. The following succinctly summarizes the key aspects of his testimony and the Q&A. As a reminder, Lew noted "Obama did negotiate," denied the chance of "prioritization," and warned that other nations appear ready (and somewhat excited) for the US to falter.
The End of the world...
- *LEW: DEBT-LIMIT INACTION THREATENS SOCIAL SECURITY PAYMENTS
- *LEW SAYS GOVT HAS NUMEROUS LARGE PAYMENTS SHORTLY AFTER OCT. 17
- *LEW SAYS BIGGEST RISK TO U.S. GROWTH IS 'MANUFACTURED CRISIS'
- *LEW SAYS DEFAULT COULD HURT VALUE DOLLAR, STOCKS COULD TUMBLE
- *LEW SEES 'IRREVOCABLE DAMAGE' FROM PRIORITIZING PAYMENTS
- *LEW SAYS NOT PAYING BILLS WOULD MEAN U.S. DEFAULT
- *LEW CITES 'UNNECESSARY BLOW' TO U.S. ECONOMY
Only so much we can do...
- *LEW SAYS EXTRAORDINARY MEASURES NOT `INFINITE'
- *LEW SAYS U.S. CAN'T WAIT TO LAST MINUTE ON DEBT LIMIT
- *LEW: NO ONE WANTS TO TEST WHAT HAPPENS IF DEFAULT LINE CROSSED
And the rest of the world is chomping at the bit to knock us down...
- *LEW SAYS 'THE WORLD COUNTS ON U.S.' TO BE RESPONSIBLE
- *LEW SAYS THERE'S A REASON WHY DOLLAR IS WORLD RESERVE CURRENCY
- *LEW: OTHER NATIONS WOULD LIKE FX BASKET AS DOLLAR ALTERNATIVE
- *LEW: IT'S IMPORTANT U.S. HOLDS ITS POSITION IN WORLD ECONOMY
Markets worried
- *LEW WARNS DEBT-LIMIT 'UNCERTAINTY' STARTING TO STRESS MARKETS
- *LEW SAYS MARKETS SHOWED 'UNEASE' IN PAST FEW DAYS
- *LEW CITES RISE IN SHORT-TERM TREASURY YIELDS
Real Economy worried
- *LEW SAYS 'WE ARE IN A BETTER PLACE' ON ECONOMY
- *LEW SAYS HIGHER INTEREST RATES FLOW THROUGH ECONOMY
- *LEW SAYS RETAILERS WORRIED ABOUT NOV., DEC. SALES PERIOD
- *LEW SAYS ECONOMY WOULD BENEFIT FROM LESS BRINKSMANSHIP
- *LEW WARNS OF POSSIBLE INABILITY TO PAY TROOPS, VETERANS
- *LEW SAYS SHUTDOWN BEGINNING TO HAVE ECONOMIC CONSEQUENCES
On Prioritization:
- *LEW SAYS PRIORITAZATION IS 'DEFAULT BY ANOTHER NAME'
- *LEW DOESN'T THINK THERE IS A WAY TO PICK AND CHOOSE ON PAYMENTS
- *LEW SAYS THERE'S NO GOOD SOLUTION IF DEBT LIMIT NOT RAISED
- *LEW SAYS 'OPTIONS ARE ALL BAD' IN PICKING WHAT PAYMENTS TO MAKE
On negotiating:
- *LEW SAYS OBAMA HAS NEGOTIATED
- *LEW SAYS LONGER THE DEBT CEILING EXTENSION, THE BETTER
- *LEW SAYS FISCAL TALKS HAVE TO BE A 'TWO-WAY STREET'
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The world is screwed
LEW SAYS
say it fast 100 times
Yeah, cuz nothin' says "responsible" quite like $17T in debt on the books. Then there's that unbooked stuff...
No, the world counts on cheap money.
Was Jack meaning to be funny? The US, responsible? And oh how they larfed.
..ok ill start...fuck you lew....
Phluck Lew!!!
Perhaps, but we are chilling champagne and counting down to the moment when we can put our DOW 15000 hats back on.
Should Old Acquaintance be forgot,
and never thought upon;
The flames of Love extinguished,
and fully past and gone:
Is thy sweet Heart now grown so cold,
that loving Breast of thine;
That thou canst never once reflect
On Auld lang syne
The subject of his presentation was supposed to be prioritization and a layout of details.
That did sound stupid when I first heard it. They must have figured out that it would help their cause to list debt service, Soc Sec, Medicare, DoD, in that order and most else gets hit hard.
Because that might just be approved of.
I count to the third finger - either direction Lew - and it say Fuck You.
Now showing in America!
Don't miss...
Jacob Joseph Lew and The Amazing Technicolor Dream Note
Super Star Donny Osmond, as Joseph, sings the smash hit...
With supporting cast...
Jacob Joseph Lew
and The Amazing Technicolor Dream Note
Winning awards the world over for pyrotechnics and costumes!
Don't miss this production!
Jew Lack-ey.
It's actually Jacob Lew.
Now now SheepDog-One,
We should have more confidence in Jack Lew, he is another one of those ubiquitous to finance and the media, extremely qualified, and highly motivated Jewish fellows, with the Nation's long-term best interests at heart, and by utilizing his high IQ and vastly superior knowledge and understanding of monetary policy and economics, he will guide us toward the truth, with peace and prosperity for all.
Gimmie all I want or the kid gets it. Simple extortion.
Obama, Reid and Lew all feel their standing on a position of strength. They expect the republicans to fold again.
They will keep crying until they get their candy.
Obama, Reid and Lew. Sounds like the law-firm from Hell.
Sue,Grabbitt, and Runne.
Blazing Saddles said it best:
http://www.youtube.com/watch?v=AjPBp6DOwgU
And most of the 'Murican public is dumb enough to fall for it.
These people are fucking children.
Wait, isn't that illegal?
The USA is to responsibility as Justin Bieber is to talent.
So... POMO is equivalent to AutoTune then?
Where's a good FLAMETHROWER when you need one?
Time to take a road trip to DC ...
Totally responsible! Certainly not deadbeats.
From the Obozo's mouth 2006:
“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."
I don't see the word, "People" in that cloud...or "Americans."
Am I missign something?
However, I think I see the very tiny letters, "KY" and "Screw them" near the bottom right but I have to get me magnifier spectacles out to see them.
All you 20 to 30's people better make a stand now or you won't even remember the good times you have now.
When you are in your 50's and 60's you wil be a sad lot.
I am not shitting you
You ARE kidding, right? they can't even READ YOUR POST. BWAHAHAHA(etc.)
*LEW SAYS THERE'S A REASON WHY DOLLAR IS WORLD RESERVE CURRENCY
Yeah. Military power and being OPEC's bitch.
*LEW: OTHER NATIONS WOULD LIKE FX BASKET AS DOLLAR ALTERNATIVE
Yeah and that would fuck with your PRINT BITCHEZ economic policy uh?
*LEW SAYS 'WE ARE IN A BETTER PLACE' ON ECONOMY
Bull!
*LEW SAYS PRIORITAZATION IS 'DEFAULT BY ANOTHER NAME'
Just like raising the debt ceiling is.
Lew says Keynesian deficit spending, inflation, and currency degradation is 'DEFAULT BY ANOTHER NAME'
Oh... Well. He didn't say that did he?
Who knew "My Way or the Highway" was a 2 way street.
We are the Roadkill Generation...........
Perhaps they'll upgrade to a Mobius band next? That way, they can track it alongside the swirlogram.
In other words the plan is to continue government expansion and debt. Bussiness in Washingto as usual.
Raise my credit limit so I can pay my bills. Does anyone see the irony.
It's worse than that. Raise my credit limit so I can go on spending and going deeper in debt, or raise my credit limit and add Obamacare so I can throw the printing press into hyperdrive.
Will the wheels never fall off this shit wagon?
Lew meet Triffin dilemma!
I'd prefer he met a Triffid dilemma,
Tiffin wallah? Babu, fetch me my tiffin sir, post-haste, channah masala, those crackers with the sesame seeds, and 3 drams of ganjah sir.
triffid was a giant walking carnivorous plant in the novel;Day of the Triffids.
Hence my referrence.
"Tiffin wallah?"
I wouldn't mind a "Tiffin dilemma" myself. Which one to choose, which one?
QUICK, LET US BORROW MORE MONIES NOW OR I CAN'T FIGURE OUT HOW TO PAY THE DEBT INTEREST!
Lewi says, I'm a sniveling little rat-faced git.
Bring back Geithner.
Lololol smoke! +1 for insanity and silliness! It was SOOO different with the Geether!
TIMMAY!
TIMMAY!
*LEW SAYS 'THE WORLD COUNTS ON U.S.' TO BE RESPONSIBLE
No, they don't. They count on the US to continue to be irresponsible, and also to keep droning brown people everywhere. That is what the US has demonstrated in the past, why would they expect anything else?
*LEW SAYS THERE'S A REASON WHY DOLLAR IS WORLD RESERVE CURRENCY
Yeah, it's called military power and the exercise of said power.
*LEW: IT'S IMPORTANT U.S. HOLDS ITS POSITION IN WORLD ECONOMY
To whom? Oh, right, to the elites, so they can continue to bleed the world dry.
Fuck you, Lew. Fuck you hard up your ass with an electrified dildo.
Jack was nimble, Jack was quick, Jack... off.
Andrew Dice Clay had a little rhyme about Lew some years ago:
"Jack be nimble
Jack be quick
Jack burnt off his fucking dick!"
I think we saw that demonstrated today as he just kept repeating the same tired lines and did not even attempt to answer the questions.
"The World Counts On The US To Be Responsible"
If we were responsible we would not be 16 Trillion in debt.
Financial theater.
Obama, Reid, Pelosi, Shumer and Lew are wolves waiting for the republicans to fold and submit to being eaten.
Dow up 180. That's worry right there.........
'Responsible' = 'print free money'
"LEW DOESN'T THINK THERE IS A WAY TO PICK AND CHOOSE ON PAYMENTS"
It is quite obvious that this animated turd has never experienced anything remotely resembling a shortage of funds. In other words, he lives in a bubble. It is high time we prick that bubble and subject him, and his peers, to a fresh dose of reality. These ass wipes really need to research history and take note of how their kind are dealt with when the SHTF. I can hardly wait.
Fuckin'-A, Bubba!
>>Counts On The US To Be Responsible"
Don't look now but that disappeared 60+ years ago.
Yeah, I rely on us to be responsible, too, but that doesn't necessarily mean it has ever happened in human memory...
Bohoo, the "world" needs Uncle Sam's credit card, keep that mickey maus money flowin' sez Jackie Lew
Oooh ooh Jackie Lew
You live your life from inside of a trading room
You tell the world that default is a drag
Oooh Jackie, what fun you will have
Being responsible = living within your means
NOT being responsible = going deeper and deeper into debt
Hmmm, which of those applies to the US???
If you can't decide you are a moron
Jack Lew =
"The World Counts On The US To Be Responsible"
... I feel like I'm in fucking twilight zone ...
"LEW SAYS PRIORITAZATION IS 'DEFAULT BY ANOTHER NAME'"
Prioritization is not default, unless debt obligations are not met.
This is another game of let's redefine a word.
Then Jew-Lew should be out promoting justice, savings, free markets, and the rule of law instead of horseshit and bullshit dripping with fraud and government extortion.
Want to fix the problems? Reward savers and thrift.
Fuck you, Lew.
We people demand moar debt and more money!
So we can buy shit we don't need!
"Jack Lew Ominously Warns 'The World Counts On The US To Be Responsible.'"
It cannot be a good sign that the Treasury Secretary is talking to himself in public.
Lying Lewie lies and cries and besides the world ain't that fucking stuuuuuuupid ["The World Counts On The US To Be Responsible"].....
"The World Counts On The US (Debt) To Be Responsible"
Since the world is addicted to Debt-Based FIAT Currency, I fail to see any validity in what Jack Lew / Lagarde / Bernanke/Yellen BIS / WB / Etc... have to say today-tomorrow-nextweek-nextmonth-next year!
So, this is a public admission that only debt-expansion can save the world now? They have lost control of the matrix.
We are truly fooked, are we not?
On a more positive note, Will Israel Assassinate Obama?
I don't see "Martial Law" in the word cloud.
Are we missing something here?
Of course picking which bills to pay is not ideal. But it's got to happen sometime, why then is now any worse than any other time?